Energy Sector Remains Largest Bank Defaulter
|

Energy Sector Remains Largest Bank Defaulter

During the calendar year 2021, banks nonperforming loans (NPLs) increased 3.8% (Rs31 billion) and Pakistan’s energy sector again continued to remain the largest defaulter in the repayments of loans to banks. In its latest Financial Stability Review of 2021 the State Bank of Pakistan (SBP) reported, “Sector-wise analysis indicates that the rise in overall NPLs…

Fear Of “Recession” Causes Fall of WTI Crude By 5%
|

Fear Of “Recession” Causes Fall of WTI Crude By 5%

As crude has soared in recent months due to tight supplies of crude caused by Russian invasion of Ukraine will not be enough to meet the demand from reopening of world economies, particularly China as it opens up after a month-long lockdowns. On Wednesday oil prices plunged more than five percent which has made traders…

Rupee Sees Sharp Recovery by Rs 4.7 Against Dollar in Interbank Market
|

Rupee Sees Sharp Recovery by Rs 4.7 Against Dollar in Interbank Market

A day after finance minister Miftah Ismail’s announcement of the agreement of $2.3 billion loan from Chinese banks consortium, the Pakistani rupee showed a sharp recovery by Rs4.7 on Thursday morning in the interbank market. According to the State Bank of Pakistan, the US Dollar closed at Rs207.23 in the interbank market while the previous…

Pakistani Logistics Startup Rider Raises 3.1m by YC-Baked
|

Pakistani Logistics Startup Rider Raises 3.1m by YC-Baked

Y Combinator logistics startup Rider has raised $3.1million from YC Demo Day as it pursues to upgrade the logistics space in Pakistan and create next day delivery service just like Amazon.  Apart from YC, investors including i2i Ventures, Flexport, Soma Capital and Rebel Fund also joined in the financing round. Global founders Capital, Fatima Gobi…

PayFast by APPS partners with Visa through Cybersource to become first Fintech in Pakistan
|

PayFast by APPS partners with Visa through Cybersource to become first Fintech in Pakistan

PayFast by APPS (“PayFast”) is pleased to turn into the first fintech in Pakistan to cooperate with worldwide installments pioneer Visa through Cybersource. Through this collaboration Cybersource is offering its powerful and dynamic computerized installment arrangement suite to PayFast. It incorporates E-business checkout, computerized vendor stage, Fraud Management, and SoftPOS. This drive clears the way…

Miftah Claims of IMF Agreement Within 2-3 Days
|

Miftah Claims of IMF Agreement Within 2-3 Days

On Monday, Federal Minister for Revenue and Finance Miftah Ismail being hopeful claimed that the stalled International Monetary Fund’s (IMF) Extended Fund Facility (EFF) would be revived within a day or two. After a meeting held by Senate Standing Committee on Finance the finance minister declared that “I am very hopeful that the IMF programmed…

Netizens call out the ‘privatization” and destruction of Karachi’s Frere Hall’s beauty as “class disparity”
|

Netizens call out the ‘privatization” and destruction of Karachi’s Frere Hall’s beauty as “class disparity”

Netizens are not happy with the undergoing construction of Frere Hall, known for being an unbarred space open for all, that is reportedly going to fence the gardens and will no longer be available for common public. Frere Hall means different things to different people. It has been a picnic spot for many, a Sunday…

Pakistan’s First Ultra-Rapid EV Charging Station Launched
|

Pakistan’s First Ultra-Rapid EV Charging Station Launched

Two of top-ranking German companies, Audi in collaboration with Siemens launched Pakistan’s first and only ultra-rapid charging DC station at the Libra CNG station, which is now also known as Libra Charging Hub, in Saddar Karachi. Equipped with Siemens’ SICHARGE D series chargers, the super-fast EV charging station will be capable of charging at speeds…

‘Ms Marvel’ starring Samina Ahmed as Kamala Khan’s Nani
|

‘Ms Marvel’ starring Samina Ahmed as Kamala Khan’s Nani

Fans are excited for Pakistani-Muslim superhero in a Marvel series. The miniseries ‘Ms Marvel’ stars several Pakistani hotshots such as, Nimra Bucha, FawadKhan, Mehwish Hayat and Samina Ahmed and fans are eagerly waiting to find out what character their favourite actors are playing in this series.  There had been glimpses of Ahmed and Bucha in…

Bushra Ansari’s rendition of ‘Dubai Janay Walay’ takes netizens down the memory lane
|

Bushra Ansari’s rendition of ‘Dubai Janay Walay’ takes netizens down the memory lane

Who can forget the groundbreaking comedy show 50/50? Fifty Fifty was a satirical show released in 1978 that starred Zeba Shehnaz, Moin Akhtar, Durdana Butt, Ansari, Sakhi Kamal, Ashraf Khan, Iqbal Ansari, Adil Wadia, Ismail Tara, Asma Abbas, Javed Sheikh, Umer Shareef and Majid Jehnagir. The show was written by Anwar Maqsood and directed by…

Modi Bulldozes Democracy and Degrades Human Rights
|

Modi Bulldozes Democracy and Degrades Human Rights

All credit goes to sleeping international community, who with their deafening silence watch the spectacle of Indian Muslim localities being crushed down by bulldozers and impose punishments on professed rioters. While the long-celebrated democracy fumbles under the concrete rumble and the long arm of heavy machinery making its way ruthlessly in the chambers of alleged…