The State Bank of Pakistan (SBP) has granted pilot operations approval to HugoBank, a Karachi-based digital retail bank. Under this pilot approval, HugoBank will be able to test its products, banking systems, and operational readiness with a limited number of customers in a real-world environment, read a statement released on Wednesday. The purpose of this phase is to ensure that security me
Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry announced on Wednesday a unified transhipment incentive package offering major concessions at Karachi Port and Port Qasim to cut cargo handling costs and attract regional shipping traffic. The package, jointly introduced by the Karachi Port Trust (KPT), Port Qasim Authority (PQA) and their container terminal operators, include
Pakistan’s exports made a strong start in the first month fiscal year 2026-27, with total exports rising 10 percent to USD 2.96 billion in July 2026 from USD 2.69 billion in the same month last year, according to the Pakistan Textile Exporters Association (PTEA). Sharing the figures on X, the PTEA described the performance as “a healthy start and one worth building on,” noting that the textile
Pakistan has reportedly requested China to refinance a USD 1.3 billion commercial loan, with the funds expected to be received later this month once the terms and conditions are finalised. According to the sources, discussions with Chinese authorities are underway to expedite the refinancing process. The inflow is expected to provide timely support to Pakistan’s foreign exchange reserves.
Gold rose for a third straight session on Wednesday, hitting a one-month peakon a softer dollar and lower oil prices, while investors awaited U.S. jobs data for clues on the interest-rate outlook. Spot gold climbed 2.4% to $4,175.53 per ounce by 0640 GMT, its highest since July 7. U.S. gold futures rose 2% to $4,235.30. The U.S. dollar traded subdued, making greenback-priced metals more attr