KARACHI: The Central Directorate of National Savings has revised down the profit rate on various certificates, including Regular Income Certificates, following a 200 basis point reduction in the central bank’s policy rate. The government of Pakistan lowered the profit rates on various certificates, including the Regular Income Certificates (RICs) launched in 1993 and designed to […]
ISLAMABAD: The National Savings, also known as Qaumi Bachat Bank, has introduced Special Savings Certificates, aimed at small and medium investors, offering a unique opportunity to earn bi-annual returns over a three-year tenure. The investors deposit their money in Qaumi Bachat Bank will receive profits at the end of every six months. The government last […]
KARACHI: Multinational companies (MNCs) operating in Pakistan repatriated profits and dividends worth $139 million to their headquarters abroad in July 2024, which reflected a slowdown in outflows after remaining at significantly elevated levels due to the clearance of backlog of the previous fiscal year. Despite normalisation, the repatriation of profits and dividends surged 64.5-fold compared […]
ISLAMABAD: The State Bank of Pakistan’s surplus profit has exceeded Rs. 972 billion in the financial year 2024, marking an increase of Rs. 601 billion from the previous year, ARY News reported. According to documents from the Ministry of Finance, the State Bank’s surplus profit was Rs. 371 billion in the financial year 2023. The […]
KARACHI: In a move to provide maximum benefit to the long term investors, the Government of Pakistan launched the Defence Savings Certificates (DSCs) decades ago. However, recently, the National Savings or Qaumi Bachat Bank announced updated profit rate of various investment certificates, incuding DSCs, after the budget 2024-25 in May. The profit rate on Defence […]
Ivorian rice farmer Francois Kasse Yao has struggled to make ends meet with only one harvest per year before he planted a new variety, resistant to unpredictable weather conditions capable of producing larger yields. The grain, introduced as a part of a programme designed to increase output of the regional staple food and cut dependence […]
Shell reported second-quarter profit of $6.3 billion, a drop of 19% from the previous three months as refining margins and oil and gas trading weakened, though still beating analysts’ forecasts. The results were lifted by strong performances in the oil and gas production and retail marketing businesses and the profit was nearly 25% higher than […]
Mastercard’s second-quarter profit beat expectations as customers kept up spending heavily using its cards, sending shares of the payments giant nearly 3% higher before the open on Wednesday. A tight labor market has ensured job security for customers, allowing them to make purchases without restraint even as the U.S. Federal Reserve keeps monetary policy tight. […]
Kraft Heinz slashed its organic sales forecast for 2024 on Wednesday, signaling subdued demand for its branded snacks and Lunchables meal kits, but its shares rose about 4% in early trading as the Jell-O maker maintained its profit expectations. Packaged food companies such as Kraft Heinz and Mondelez are facing consumer pushback after double-digit price […]
KARACHI: Pakistan let foreign companies working in the country repatriate profits and dividends of $2.21 billion, a six-year high, to their headquarters abroad in the prior fiscal year that ended on June 30, 2024. With this significant outflow of profits and dividends, the entire backlog accumulated over the past two years has been cleared. According […]