Business Archives - Page 22 of 35

State Bank of Pakistan explains How to open “Asaan Mobile Account”

27Sep

By Muhammad Dastageer Shams2 Comments

Business

State Bank of Pakistan explains How to open “Asaan Mobile Account”

State Bank of Pakistan has introduced a new type of bank account as the “Asaan Mobile Account”. The word “Asaan” means easy and the account holds the basic features of any usual bank account. This new Bank account type is created for people who cannot open up standard accounts in any bank in Pakistan. As we know, opening a bank account in any Bank requires proof of employment or proof of source of income. However, the Asaan Mobile Account does not require any such proof and allows anyone to open up a bank account for transactions. The account only requires a mobile number to set up. Asaan Mobile Account (AMA) will serve as a platform for low-income individuals. Moreover, the program is undertaken by the State Bank of Pakistan as well as the Pakistan Telecommunication Authority (PTA). T...

Despite foreign aid, USD hits highest against PKR

24Sep

By Muhammad Dastageer ShamsNo Comments

Business

Despite foreign aid, USD hits highest against PKR

The Pakistani Rupee PKR has witnessed its worst performance in history. PKR fell for the 13th continuous time against the USD on Tuesday. USD reached a record highest price of about 239.71 in the international foreign exchange market. This is the worst condition of the Pakistani Rupee since the beginning of the currency. Pakistan has been under the many hits of high rates of the United States Dollar price. But this is the worst performance so far. International Monetary Fund (IMF) has approved a loan of about 1.2 billion USD. Experts were confident that PKR will have better value. After the recent disasters caused in Pakistan due to Floods, the world has responded positively to the government’s request for help. It is estimated that at least a half billion USD has been received by Paki...

Fiverr announced a few hours shut down on Sept 18 for maintenance

17Sep

By Muhammad Dastageer ShamsNo Comments

Business

Fiverr announced a few hours shut down on Sept 18 for maintenance

Fiverr announced a shutdown on September 18. Fiverr is the world's most renounced and visited website. It won't be a false statement that most of the world's online services trading happens on this platform alone. Many people who work online prefer Fiverr over all the other platforms due to its features. However, the world's best also has to take a rest sometime. To be the best Administration at Fiverr ensures that their website remains smooth and efficient as always. However, This is not possible without proper maintenance. Fiverr has recently announced that it would go under a temporary shutdown on 18 September. The news came in like a shock to the daily users as this does not happen quite often. It is very rare for a website of this magnitude to go through a major maintenance ...

Pakistan receive $1B as investment from Saudi Arabia

30Aug

By Muhammad Dastageer Shams3 Comments

Business, Latest

Pakistan receive $1B as investment from Saudi Arabia

Earlier this week, Saudi state TV reported that Saudi Arabia will invest $1 billion in Pakistan. The country's economy will be supported by the Saudi government, according to state TV. During a phone call with Pakistani counterpart Bilawal Bhutto-Zardari, Saudi Arabia's Foreign Minister Prince Faisal bin Farhan informed him of the decision. May God protect King Salman bin Abdulaziz Al Saud, Custodian of the Two Holy Mosques. The brotherly Republic of Pakistan will receive an investment of one billion dollars from him. It confirms the Kingdom's support for the economy of the Republic of Pakistan and its brotherly people. Pakistan is facing an economic crisis and a balance of payments crisis due to a decline in foreign reserves of $7.8 billion. It barely covers a month's worth of i...

19Aug

By Azmat ShabbirNo Comments

Business

PKR Recovery against USD

According to the State Bank of Pakistan (SBP), the local currency gained rupees 1.5 or 0.71 percent to close at PKR 213.98 against USD. Pak rupees, which recovered by four percent last week continue to rise on Monday as well. Saad Bin Naseer, director of Metis Global, said the local currency rise as USD is flowing into the country, adding that more inflows expected. He added the exporters who were keeping their dollars abroad, we're also bringing them to Pakistan quickly as the greenback was depreciating rapidly. Naseer said there was "pressure" as exporters were approaching the government and other institutions to push for stabilization of the exchange rate as they were facing losses. "But this will always happen. The best suggestion is to convert the dollar into rupees on the d...