Gold hit a record high on Monday as growing optimism that the Federal Reserve will cut US interest rates in the new year has dented the dollar in recent weeks. The precious metal, seen as a safe haven investment, reached an all-time pinnacle at $2,135.39 an ounce. Profit-taking later set in, leaving it to trade at $2,043.80. Elsewhere, bitcoin briefly traded above $42,000 to reach a 20-month
CodeNinja, a technology solutions provider, has secured an investment of $1.6 million from sAi Venture Capital, a Lahore-based technology venture investor, and its strategic partners Plutus21 Capital and affiliates. “With this investment, we’ve merged our natural advantages in the technology sector with venture principals. CodeNinja’s ability to partner with global enterprise clients and doing
Policy rankings of five leading commercial banks show the lenders have low policy commitments to climate change, human rights, gender equality and labour rights while none discloses policies on nature and tax when lending money to firms. Speaking at the launch of a report “Benchmarking the sustainability policies of banks in Pakistan” by Fair Finance Pakistan on Monday, Senator Farhatullah Ba
The Senate Standing Committee on Commerce has decided to postpone a proposed legislation that would prohibit the export of unprocessed salt in a move to bolster domestic value addition. The committee headed by Senator Zeeshan Khanzada has directed that all relevant parties provide constructive recommendations to promote value-added exports. A private bill was moved proposing a ban on the expor
The private sector’s contribution to the economy, if bank borrowing is taken as an indicator, has come down drastically over the last 18 months. Data recently issued by the State Bank of Pakistan (SBP) reveal that the sector was unable to stage a meaningful recovery during the first four months (July-October) of FY24. The data show a repeat of FY23 when the private sector’s borrowing from ba