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Fitch downgrades Pakistan to ‘CCC-’

KARACHI: Fitch Ratings has downgraded Pakistan’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to “CCC-” from “CCC+”, statement from agency said. Downgrade reflects further sharp deterioration in external liqu...

Gerry’s organises soft launch of SIA

Karachi: Singapore Airlines (SIA), flag carrier of Republic of Singapore appointed Gerry’s International as its General Sales Agent (GSA) in Pakistan. Announcement was made at an event held here attended by industry professionals, representativ...

Dreamworld, Destination, PBBC, ICCIA hold event on Blue Economy

Karachi: Dreamworld Resort in collaboration with Destination Projects Pvt. Ltd, Pakistan Britain Business Council (PBBC) and Islamic Chamber of Commerce, Industry and Agriculture (ICCIA) organised business networking event. It will engage business co...

Pakistani workers’ remittances fall to 31-month low: SBP

Karachi: Remittances sent home by overseas Pakistani workers fell to over two-year-low as dollar cap imposed to stabilise rupee against dollar by government earlier. It prompted illegal transfers through hundi, hawala and other channels. Data release...

Petrol crisis to hit Pakistan by mid-Feb, refineries warn

KARACHI: Refineries warned of looming petrol crisis by mid-February if government fails to resolve payments issues of imported raw materials and additives needed by sector. Delay in payments of raw materials and additives as well as dollar shortage h...

Flynas launches electronic service of ‘stopover visa’

KARACHI: flynas Saudi air carrier and leading low-cost airline in Middle East announced that its passengers can apply for an electronic Stopover Visa through its website. ‘Stopover Visa’ is issued after purchasing airline ticket and valid...

KSE-100 Index falls over 725pts

Karachi: Negative sentiments prevailed at Pakistan Stock Exchange (PSX), as benchmark KSE-100 Index fell over 700 points as Pakistan and International Monetary Fund failed to reach staff level agreement for next tranche of loan. By the end of day, KS...

Companies pause operations as economic conditions worsen

Karachi: Deteriorating economic conditions in country continued to bite industries, with several companies announcing they would be halting operations. Khalid Siraj Textile Mills Limited announced that its management has decided to shut mill operatio...

Domestic unit gains value against dollar in interbank

Karachi: Rupee registered gains against dollar appreciating 0.46 percent in inter-bank market during trading even as expectations that deal would be finalised with IMF to revive its bailout programme fell flat. As per State Bank of Pakistan currency...

Mastercard, Network Int’l launch new AI fraud-prevention solution

Karachi: Mastercard announced that it is partnering with Network International, leading enabler of digital commerce across Middle East and Africa to address fraud, declines and chargebacks in order to reduce costs and risk for acquirers. Through part...

NC Big Stories

Wahaj Ali, Ahmed Jehanzeb & 'Kabli Pulao' Shine at 23rd LUX Style Awards

Karachi, (May 5) The 23rd LUX Style Awards celebrated Pakistan’s top talent across fashion, film, music, and television. Ahmed Jehanzeb’s Tera Mera Hai Pyar emerged as the most streamed song and earned him Singer of the Year, while Wahaj...

UAE to work closely with Pakistan for maintaining regional peace

ISLAMABAD: Ambassador of UAE Hamad Obaid Ibrahim Salem Al-Zaabi, called on the Prime Minister Muhammad Shehbaz Sharif at the Prime Minister House yesterday. During the meeting, the Prime Minister conveyed his warm wishes to His Highness Sheikh Moham...

Army top brass warns of ‘sure, decisive’ response, if India attempts to impose war

RAWALPINDI: The army’s top brass yesterday warned India of a “sure and decisive” response should it attempt to impose war, as relations deteriorated between Islamabad and New Delhi amid rising tensions after last week’s attack...

“Dr. Asim Hussain leads the charge: District Central says no to illegal constructions”

KARACHI: Dr. Asim Hussain, a senior leader of the Pakistan Peoples’ Party, has spearheaded a robust drive in District Central to eliminate illegal constructions. His initiative has brought together stakeholders from various political parties, l...
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