Trends - Remittances - Business Recorder

Remittances

What led to ‘abnormal increase’ in remittances from Saudi Arabia? Expert answers

No cash transaction took place through Hajj/Umrah movement owing to a limited Hajj this year and ban on Umrah in place amid COVID-19, which pushed people towards using formal channels.

Updated 17 Aug, 2020 03:11pm

Markets

Pakistan's remittances hit 'highest ever' of $2.76bn in July

As per details, the remittances showed 12.2 percent increase over June 2020 and 36.5pc increase over July 2019.

Published 17 Aug, 2020 10:58am

BR Research

GIDC judgement: More questions

The GIDC verdict is here. The apex court has dismissed all petitions and appeals, which were clubbed together, to...

Published 17 Aug, 2020 09:42am

Business & Finance

GIDC may have adverse impact on industries, apprehends PCMA chief

KARACHI: Ahmed Chinoy, Chairman of Pakistan Cloth Merchants Association (PCMA) said the textile industries and other...

Published 16 Aug, 2020 02:18am

Supreme Court issues detailed verdict of GIDC case

Justice Faisal Arab of the Supreme Court wrote a detailed decision of 78 pages. The decision was written by a majority of 2-1.

Published 13 Aug, 2020 03:39pm

Markets

GIDC Case: Supreme Court orders companies to pay Rs 417 billion

The panel rejected the petitions in a 2-1 verdict, ordering the companies to pay the Gas Infrastructure Development Cess.

Updated 17 Aug, 2020 12:48pm

Monitoring of remittances through NITB: SBP gives go ahead for setting up of int'l payment gateway

ISLAMABAD: The State Bank of Pakistan (SBP) has reportedly given go ahead for establishment of international payment...

Updated 13 Aug, 2020 03:32am

Markets

SC to announce its reserved judgment on GIDC tomorrow

ISLAMABAD: The Supreme Court will announce its reserved judgment on Gas Infrastructure Development Cess (GIDC)...

Published 12 Aug, 2020 02:58am

Business & Finance

$5 billion target set for export remittances through IT in next 3 years

ISLAMABAD: The government has set a target of $5 billion for export remittances through information technology and...

Published 11 Aug, 2020 03:08am

Business & Finance

Bank Alfalah, TerraPay partners to offer remittance payment service in Pakistan

Through this partnership, overseas Pakistanis will be able to use TerraPay’s partners’ network to instantly deposit money to any bank account in Pakistan.

Published 06 Aug, 2020 12:47pm

Business & Finance

Bank Alfalah and TerraPay to launch home remittance service

KARACHI: Bank Alfalah and TerraPay, a global payments infrastructure company, have announced a partnership for...

Published 06 Aug, 2020 02:56am

Households, small businesses: Decline in remittances to imply significant hardships: IMF

ISLAMABAD: The decline in remittances for economies such as Pakistan, where remittance inflows represented more than...

Published 05 Aug, 2020 03:00am

Business & Finance

ADB sees pandemic slashing 2020 global remittances by over $100bn

MANILA: Remittances across the world could decline by $108.6 billion this year as job losses mount and employers ...

Updated 04 Aug, 2020 03:08am

Markets

Baseline remittances: Pakistan can see 26.8pc decline: ADB

ISLAMABAD: Pakistan could see a decline of 26.8 percent from baseline remittances under the worst-case scenario, ...

Updated 04 Aug, 2020 03:26am

Business & Finance

Pakistan’s BOP position to improve on back of low trade deficit, remittances; Study

The report was of the view that as the number of daily new cases and deaths are falling, the country is likely to remain open, lowering the odds of a domestic supply disruption.

Published 03 Aug, 2020 12:29pm

Business & Finance

COVID-19 to hit hard Pakistan’s remittance inflows: ADB

“The COVID-19 pandemic is expected to hit remittances hard in Asia and the Pacific. In 2019, 6 of the 10 largest remittance recipients globally were from this region—India, the People’s Republic of China (PRC), the Philippines, Pakistan, Bangladesh, and Vietnam,” said ADB in its report.

Published 03 Aug, 2020 10:36am

Business & Finance

ADB sees pandemic slashing 2020 global remittances by over $100 billion

Money sent to Asia, where about a third of migrant workers worldwide come from, could fall by $54.3 billion, or about a fifth of baseline remittances, the Manila-based lender said in the report released on Monday.

Published 03 Aug, 2020 10:10am

Low remittances to exacerbate external positions: Moody's

ISLAMABAD: Lower remittances will exacerbate Pakistan's already weak external positions, says Moody's Investor...

Updated 28 Jul, 2020 03:52am

Technology

FY2019-2020: IT, ITeS export remittances surge by 23.71 percent

ISLAMABAD: The Information Telecommunication (IT) and IT enabled Services (ITeS) export remittances comprising...

Published 25 Jul, 2020 02:49am

Markets

SBP recognizes JS Bank role in driving home remittance

During the year, JS Bank recorded more than 1 million transactions with total remittance value standing at $738mn against $685mn recorded last year, showing an increase of over 7.7 percent.

Published 22 Jul, 2020 03:09pm

Markets

Workers' remittances to remain high

ARTICLE: The World Bank's estimates that $ 109 billion will be wiped out due to Covid-19, which is almost 1/5th ...

Published 18 Jul, 2020 02:47am

Markets

Rise in home remittances

EDITORIAL: Remittances rose to a historical high of 23.1 billion dollars in fiscal year 2019-20 with the June 2020...

Published 16 Jul, 2020 02:38am

Remittances hit historic high of $23.121bn

KARACHI: Pakistan has received all-time high over $23 billion home remittances inflows during the last fiscal year...

Updated 14 Jul, 2020 03:26am

Business & Finance

Pakistan receives 'record high' remittances in June

On a cumulative basis, workers’ remittances increased to another “historic high level’ of $23,120.7 million during FY20, witnessing a growth of 6.4pc over $ 21,739.4mn during FY19.

Published 13 Jul, 2020 03:29pm

Technology

IT, ITeS export remittances grow 20.75 percent in 11 months

ISLAMABAD: The Information Telecommunication (IT) and IT-enabled Services (ITeS) export remittances comprising...

Published 07 Jul, 2020 02:54am

Business & Finance

Transfast partners with HBL to facilitate Pakistani expatriates

As per details, the remittance facility between Transfast and HBL is now available to the Pakistani expatriates globally.

Published 24 Jun, 2020 11:09am

Business & Finance

Transfast partners with HBL for global remittances

KARACHI: Transfast, a leading cross-border payments service provider with presence in over 140 countries, has...

Published 24 Jun, 2020 03:13am

Millions of Pakistanis to get unemployed due to COVID-19, warns finance ministry

The ministry informed that the country’ s GDP growth prior to the outbreak of COVID pandemic the pandemic was expected to be 3.24pc, which has reduced to a negative 0.4pc during the ongoing fiscal year.

Published 05 Jun, 2020 02:24pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 31	278.42
USD PKR Interbank Buying / May 31	278.22
USD to Japanese Yen / May 31	157.31
USD to Swiss Franc / May 31	0.90
Pound Sterling to USD / May 31	1.27
Euro to USD / May 31	1.08

Stock	Volume
S&P 500 / May 31	5277.51
India Sensex / May 31	73961.31
Tokyo Nikkei / May 31	38487.90
Nasdaq / May 31	16735.02
Hang Seng / May 31	18079.61
FTSE 100 / May 31	8275.38
Dow Jones / May 31	38686.32
Germany DAX 30 / May 31	18497.94

Item	Value
Crude Oil USD/Barrel / May 31	76.99
Karachi Cotton PKR/37.32 KG / May 31	19935
Gold 10 Grams PKR / May 31	207219
Gold Spot USD/Ounce / May 31	2327.33
Cotton US¢/pound / May 31	75.11
Petrol/Litre / Jun 2	268.36

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Jun 2 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Jun 2 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Jun 2 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Jun 2 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Jun 2 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Jun 2 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Jun 2 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Jun 2 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Jun 2 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Jun 2 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Jun 2 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Jun 2 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Jun 2 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Jun 2 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Jun 2 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Jun 2 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Jun 2 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Jun 2 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Jun 2 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Jun 2 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Jun 2 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Jun 2 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Jun 2 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Jun 2 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Jun 2 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Jun 2 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Jun 2 Telecard Limited(TELE)	12,358,668 ▲ 0.00

Markets →

Calculate your monthly liability in FY24

Remittances

Most Popular