Pakistan Telecommunication Company Limited (PTCL), the parent company of U Microfinance Bank Limited (U Bank), has approved a capital injection of Rs 15 billion (approximately USD53 million) into the Bank, one of the largest equity injection transactions in the industry. The capital injection is intended to support U Bank’s sustained growth trajectory and the development of its digital banking
Precious metals kick-started the New Year on a strong note on Friday, resuming their rally after unprecedented gains in 2025, as geopolitical tensions and hopes of lower interest rates this year kept safe-haven demand intact. Spot gold climbed 1.3% to $4,372.02 per ounce as of 0357 GMT, after hitting a record high of $4,549.71 on December 26. It fell to a two-week low on Wednesday. US gold f
Oil prices edged up on the first day of trade in 2026, after last year posting their biggest annual loss since 2020, as Ukrainian drones targeted Russian oil facilities and a US blockade pressured Venezuela’s exports. Brent crude futures climbed 35 cents on Friday to $61.20 a barrel by 0409 GMT, while US West Texas Intermediate crude was at $57.76 a barrel, up 34 cents. Russia and Ukraine ha
The Pakistani rupee strengthened against the US dollar, appreciating 0.08% during the opening minutes of trading in the inter-bank market on Friday. At 9:50am, the local currency was hovering at 279.90, a gain of Re0.22 against the greenback. On Wednesday, the local unit closed at 280.12. The market was closed on Thursday on account of a bank holiday. Globally, the US dollar made a feeble
The federal government has called for a further tightening of tax enforcement and accelerated efforts to broaden the tax base, as Finance Minister Senator Muhammad Aurangzeb urged the Federal Board of Revenue (FBR) to intensify compliance measures and expand the tax net. According to a statement released on Friday, Aurangzeb has lauded the FBR field formations for achieving the highest tax coll