Business Archives

1Feb

By Muhammad Dastageer ShamsNo Comments

Business, Pakistan

Gold prices crossed 2 lac per tola

The gold prices have crossed the milestone of 2 lac Pakistani rupees per tola in Pakistan. This created a buzz in the jewelry industry and amongst gold traders. This is the first time that gold prices have reached this level in the country. Moreover, the news has caught the attention of investors and the public alike. Gold has always been a popular commodity in Pakistan. Moreover, people often turn to it as a safe haven for their investments. There are many factors that are contributing to this rise in Gold prices to 2 lac per tola. These include factors such as global economic uncertainty, the devaluation of the Pakistani rupee, and increased demand from China and India. According to market analysts, the increase in gold prices is likely to continue. This will make it an attractive...

Riko Diq would be life-Saving for Pakistan’s economy

16Dec

By Muhammad Dastageer Shams2 Comments

Business, Pakistan

Riko Diq would be life-Saving for Pakistan’s economy

Riko Diq is a planned mining operation that has the capacity to save Pakistan Economy. The Balochistan province will profit economically from US$32.7 billion. This will happen over a 47-year mine's life from the Reko Diq reconstruction project. Cailleteau Pierre is a financial advisor for Lazard Freres SAS and White & Case Law firm. He recently presented his analysis to the Pakistan judges. In his presentation to a five-judge bench, he said that the province of Balochistan would benefit from direct taxes and spending, dividends, and other financial gains. The province will receive $14.1 billion in net equity flows from participation through GoB SPV. Moreover, the province will also gain an additional $7.6 billion in free carried interest. Apart from that at least $14 billion in royalt...

Standard Chartered Bank honored as Forbes’ World’s Best Employer list for another year

13Dec

By Muhammad Dastageer ShamsNo Comments

Business

Standard Chartered Bank honored as Forbes’ World’s Best Employer list for another year

Forbes has just honored Standard Chartered Bank as the World’s Best Employer for another year. Standard Chartered bank is a worldwide provision of banking and financial services. The bank offers financial services in over 50 countries all across the world. These 50 countries employ over 80,000 employees in a single year. These countries include India, the USA, Canada, Pakistan, and many others to name. Every year, Forbes announces the best employer of the year. Forbes evaluates this honor by various aspects of any company. Each year, Forbes analyzes the performance and employee satisfaction level. Forbes also keeps an eye out for gender equality in the workplace as well. Last year, Forbes announced that Standard Chartered Bank was one of the best employers in the world. However, ...

Pakistan repay $1 billion international Sukuk bonds

8Dec

By Muhammad Dastageer Shams1 Comment

Business

Pakistan repay $1 billion international Sukuk bonds

The State Bank of Pakistan (SBP) announced that it would repay $1 billion in international Sukuk (Islamic bonds) on December 2. The State Bank made the announcement on Friday. The Pakistan bank is all set to repay the international amount three days before the due date of maturity. Although the state bank had already paid $1.8 billion in full for the current month alone against foreign obligations. SBP Governor Jameel Ahmed briefed a few analysts after the Monetary Policy announcement. He said that the nation has been making regular payments to foreign creditors. Moreover, he said that he is confident that there would be no obstacles to the repayment of the nation's foreign debt. An attendee senior analyst said that the earlier payment may be in the processing for clearance of the ...

“Earn to give” FTX crypto company got bankrupt, the Biggest crypto scam fraud in history

17Nov

By Muhammad Dastageer ShamsNo Comments

Business

“Earn to give” FTX crypto company got bankrupt, the Biggest crypto scam fraud in history

FTX crypto company is going to file for bankruptcy. According to reports the FTX crypto trading company “Earn to give” is out of business after the resignation of its CEO. The CEO, Sam Bankman-Fried resigned recently due to the company’s recent losses. The company is now initiating bankruptcy applications in the United States. The shutting down of this company has resulted in the most significant scam fraud case in crypt trading history. According to reports, millions have lost money invested within this company. The company made the announcement of shutting down through its Twitter handle. The company was in the process of selling its shares out to other crypto trading platforms. Major crypto platforms such as Binance were in process of acquiring this company. However, Binance w...