Italian businesses are waking up to Pakistan’s potential: envoy

By Kazim Alam KARACHI: Statistics released by the national data-collecting agency paint an unflattering picture of exports, which came down 9 per cent annually between 2013-14 and 2015-16. In particular, textile exports that constitute about three-fifths of the total registered negative growth in July-March despite preferential market access to the European Union, largest foreign consumer … Continue reading Italian businesses are waking up to Pakistan’s potential: envoy

Martin Dow in talks to buy French biotech firm

By Kazim Alam KARACHI: Martin Dow Ltd Chairman Jawed Akhai said on Friday the pharmaceutical company is looking into the possibility of acquiring a biotech company in France. It will be Martin Dow’s third acquisition in France if the ongoing negotiations bear fruit, Mr Akhai said while speaking at the third annual general meeting (AGM) … Continue reading Martin Dow in talks to buy French biotech firm

Wathra stresses credit parity across regions

By Kazim Alam KARACHI: State Bank of Pakistan (SBP) Governor Ashraf Mahmood Wathra said on Monday the criterion for Pakistan Banking Awards 2017 should include the geographical distribution of banks’ loans and deposits to promote financial inclusion. Speaking at the launch of the second edition of Pakistan Banking Awards at the Institute of Bankers Pakistan … Continue reading Wathra stresses credit parity across regions

Data centre to tackle money laundering, terror financing

By Kazim Alam KARACHI: The State Bank of Pakistan on Friday inaugurated a high-tech data centre which will help the Financial Monitoring Unit (FMU) in tracking down money laundering and terrorism financing. The FMU is the financial intelligence unit of the finance ministry tasked with fighting money laundering and terror financing. Established with the financial … Continue reading Data centre to tackle money laundering, terror financing

CDNS profit-collection system draws mixed response

By Kazim Alam KARACHI: Thanks to a recent change in the profit distribution mechanism, widows and pensioners do not have to line up outside 485 offices of Central Directorate of National Savings (CDNS) across the country to collect their monthly returns. All they have to do is take profit coupons and withdrawal slips of CDNS-run … Continue reading CDNS profit-collection system draws mixed response

The journey of a ‘fugitive’ from Wall Street to Khayaban-e-Shahbaz

By Kazim Alam KARACHI: From a government primary school in Karachi’s Sharafabad neighbourhood to the centre stage of high finance on Wall Street, the journey of self-styled investment guru Mir Mohammad Alikhan was unusual. But far more unusual has been his journey back from New York to Karachi. After founding a full-service investment bank in early … Continue reading The journey of a ‘fugitive’ from Wall Street to Khayaban-e-Shahbaz