Trends - Remittances - Business Recorder

Remittances

Think out-of-box FDI (II)

While there is a need to rethink FDI policy and invigorate and charge up IPAs’ role – as highlighted last in ...

Published 22 Jan, 2021 07:35am

C/A surplus streak ends

KARACHI: Pakistan’s current account posted a $ 662 million deficit in December 2020 after surpluses for five...

Published 21 Jan, 2021 04:23am

BR Research

Think out-of-box FDI

As SBP puts it in its latest quarterly report, the ripple effect (decline in FDI from the pandemic) was not felt as...

Published 20 Jan, 2021 07:30am

Pakistan

IT exports remittances surge 38.16 percent

Export remittances comprising computer and call center services have surged to US $648.940 million during July-November of FY 2020-21.

Published 19 Jan, 2021 07:02pm

Business & Finance

Remittances from Overseas Pakistan projected to hit $28bn this year

“Interestingly, the government’s full year target is $21 billion while the central bank expects remittance inflows ranging between $24 billion to $26 billion. The current run rate indicates that inflows may hit $28.4 billion,” said Aslam.

Published 18 Jan, 2021 10:38am

BR Research

Remittance growth: ephemeral or sustainable?

Remittances sent home by overseas Pakistanis rose 25 percent in 1HFY21; that’s the highest first half growth since...

Published 11 Jan, 2021 07:25am

PM praises overseas Pakistanis for record Dec remittances

ISLAMABAD: Prime Minister Imran Khan on Friday thanking the Overseas Pakistanis for yet another record-breaking ...

Published 09 Jan, 2021 02:47am

H1 workers’ remittances post 25pc growth

KARACHI: Inflows of workers' remittances maintained a strong momentum and posted a healthy growth of some 25 percent...

Published 09 Jan, 2021 02:47am

Pakistan

Qureshi emphasises importance of ‘economic diplomacy’

ISLAMABAD: Foreign Minister Shah Mahmood Qureshi Wednesday asked Pakistan’s envoys based in African countries to...

Published 07 Jan, 2021 03:15am

Business & Finance

Explainer! How did Pakistan’s Remittances continue to grow despite COVID-19?

The central bank said that it has also significantly revised its forecast for remittances for CY20, from an initial projection of a 23 percent decline to a growth of 9 percent.

Published 06 Jan, 2021 11:45am

BR Research

Remittance narratives

The central bank’s recently launched survey of overseas Pakistanis to assess recent trends and prospects for...

Published 06 Jan, 2021 07:30am

Business & Finance

PM thanks Overseas Pakistanis as amount remitted in Roshan Digital Account crosses $200 million

I want to thank our great asset, Overseas Pakistanis. MashaAllah funds sent by them through Roshan Digital Accounts created by SBP crossed $200 mn yesterday," PM tweeted.
Roshan Digital Account provides innovative banking solutions for millions of non-resident Pakistanis (NRPs).

Updated 24 Dec, 2020 10:10am

Business & Finance

Bukhari applauds Overseas Pakistanis as remittance boom continues

“Thanks to Overseas Pakistanis remittances boom continues too,” said Bukhari in a tweet post.

Published 23 Dec, 2020 11:40am

Business & Finance

Remittance resurgence a tonic but no cure for sickly emerging economies including Pakistan

Such countries have led a surprise recovery in remittances in the second half of 2020, as the slowdown in flows amid the pandemic proved less severe than initially feared.

Published 22 Dec, 2020 12:46pm

Business & Finance

Pakistan to receive $1.5 billion from China to repay Saudi Arabia debt

In 2018, Saudi Arabia agreed to give Pakistan $3 billion in foreign currency support for a year and a further loan worth up to $3 billion in deferred payments for oil imports to help stave off a current account crisis.
Out of $2 billion, Pakistan is now set to return the $1 billion to Saudi Arabia.

Updated 14 Dec, 2020 10:59am

Business & Finance

Need to sustain strong Remittances flow to get ‘true economic independence’: Asad

The minister in a tweet post on Friday said that strong remittance flows are significantly helping with Pakistan’s external account.

Published 11 Dec, 2020 12:11pm

Business & Finance

Trend Continues; Remittances from Overseas Pakistanis remain above $2bn

In aggregate, remittances rose to an unprecedented $11.8 billion during Jul-Nov FY21, 26.9pc higher than the same period last year.

Updated 11 Dec, 2020 11:43am

Business & Finance

Pakistan’s Remittances remain over $2bn for Fifth consecutive month

The SBP informed that a large part of Year on Year increase in October 2020 was sourced from Saudi Arabia (30 percent), United States (16 percent) and United Kingdom (14.6 percent).

Published 12 Nov, 2020 10:39am

Markets

Covid-19 crisis: WB projects 9 percent growth in remittances

ISLAMABAD: The World Bank (WB) has projected nine percent growth in remittances for Pakistan totaling about $24...

Published 01 Nov, 2020 02:50am

Markets

GIDC judgment: SC tells govt to inform about initiation of gas projects

ISLAMABAD: The Supreme Court on Thursday directed the federal government to inform by 2nd November what concrete...

Published 30 Oct, 2020 02:54am

Markets

Remittance flows to fall 14pc by 2021 as migration falls: WB

LONDON: The amount of money migrant workers send home is expected to fall 14% by 2021 compared with levels before ...

Published 30 Oct, 2020 02:54am

Markets

GIDC review petitions: SC cannot make ruling on matters pending before high courts: counsel

ISLAMABAD: Makhdoom Ali Khan, counsel for industrial and commercial entities, said the Sindh High Court (SHC) in 377...

Published 29 Oct, 2020 02:53am

Markets

SBP brings new mechanism on disinvestment proceeds remittance

The new mechanism also incorporates feedback received from investors and other stakeholders, said SBP release.

Published 27 Oct, 2020 06:58pm

Markets

Disinvestment proceeds: SBP further streamlines process of remittance

KARACHI: In order to further streamline the process of remittance of disinvestment proceeds, the State Bank of...

Published 27 Oct, 2020 02:59am

CCoE directs PD to utilize GIDC as per SC directives

ISLAMABAD: The Cabinet Committee on Energy (CCoE) has directed the Petroleum Division to utilize GIDC as per...

Published 25 Oct, 2020 02:25am

Markets

FY 2020-21 Q1: IT, ITeS export remittances surge to $379.251 million

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

Published 24 Oct, 2020 02:41am

Pakistan's C/A post surplus for third successive month on back of remittance & exports

The SBP was of the view that continued buoyancy in remittances (up 9 percent m/m) and a broad-based rebound in exports (up 29pc m/m) drove the current account surplus in September.

Updated 21 Oct, 2020 04:49pm

BR Research

Gainers
Losers
Leaders

Stock	Price
First Punjab Mod. / Jan 26 First Punjab Modaraba(FPJM)	2.70 ▲ 0.20 (14.89%)
Ghani Auto Ind. / Jan 26 Ghani Automobile Industries Limited(GAIL)	6.80 ▲ 0.69 (13.33%)
Habib Ins. / Jan 26 Habib Insurance Company Limited(HICL)	8.50 ▲ 0.69 (13.18%)
Bawany Air / Jan 26 Bawany Air Products Limited(BAPL)	22.38 ▲ 1.89 (11.34%)
Unicap Mod. / Jan 26 Unicap Modaraba(UCAPM)	1.10 ▼ -0.01 (10.00%)
Hi-Tech Lubricants / Jan 26 Hi-Tech Lubricants Limited(HTL)	60.28 ▲ 7.55 (9.66%)
Pak Datacom Ltd / Jan 26 Pak Datacom Limited(PAKD)	113.50 ▲ 4.58 (9.03%)
Fazal Cloth / Jan 26 Fazal Cloth Mills Limited(FZCM)	229.68 ▲ 30.92 (7.50%)
Dewan Sugar / Jan 26 Dewan Sugar Mills Limited(DWSM)	3.03 ▼ -0.10 (6.32%)
B.R.R. Mod. / Jan 26 B.R.R. Guardian Modaraba(BRR)	14.00 ▲ 0.46 (5.98%)

Stock	Price
Hala Enterpries / Jan 26 Hala Enterprises Limited(HAEL)	10.81 ▼ 0.97 (-11.76%)
Saritow Sp. / Jan 26 Saritow Spinning Mills Limited(SSML)	9.90 ▼ 0.86 (-11.61%)
Grays Leas. / Jan 26 Grays Leasing Limited(GRYL)	5.17 ▼ 0.69 (-10.86%)
PICIC Insurance / Jan 26 PICIC Insurance Limited(PIL)	1.38 ▼ 0.11 (-9.80%)
First Pak Modaraba / Jan 26 First Pak Modaraba(PAKMI)	2.12 ▼ 0.27 (-9.40%)
First Prud Mod. / Jan 26 First Prudential Modaraba(PMI)	2.10 ▼ 0.35 (-8.70%)
Altern Energy / Jan 26 Altern Energy Limited(ALTN)	27.25 ▼ 1.75 (-8.40%)
Summit Bank / Jan 26 Summit Bank Limited(SMBL)	1.83 ▼ 0.14 (-8.04%)
Saudi Pak Leas. / Jan 26 Saudi Pak Leasing Company Limited(SPLC)	1.74 ▼ 0.25 (-7.94%)
Khurshid Spinng / Jan 26 Khurshid Spinning Mills Limited(KHSM)	19.86 ▼ 0.00 (-7.46%)

Stock	Volume
TRG Pak. / Jan 26 TRG Pakistan Limited(TRG)	29,686,000 ▼ 8.01
K-Electric Ltd / Jan 26 K-Electric Limited(KEL)	25,544,000 ▼ 0.11
Invest Cap. Bank / Jan 26 Invest Capital Investment Bank Limited(ICIBL)	17,052,500 ▼ 0.87
Unity Foods / Jan 26 Unity Foods Limited(UNITY)	16,920,978 ▼ 1.02
Fauji Foods / Jan 26 Fauji Foods Limited(FFL)	15,931,500 ▼ 0.35
Fauji Fert. Bin / Jan 26 Fauji Fertilizer Bin Qasim Limited(FFBL)	12,716,500 ▼ 1.75
Pak Int.Bulk Ter / Jan 26 Pakistan International Bulk Terminal Limited(PIBTL)	10,876,500 ▼ 0.31
Hum Network / Jan 26 Hum Network Limited(HUMNL)	10,747,500 ▼ 0.17
Aisha Steel / Jan 26 Aisha Steel Mills Limited(ASL)	9,137,500 ▼ 1.32
Jahangir Sid. Co. / Jan 26 Jahangir Siddiqui & Co. Ltd.(JSCL)	8,165,000 ▼ 0.75

Markets →

Forex
World
Econ

Currency	Rate
USD PKR Interbank Selling / Jan 26	160.85
USD PKR Interbank Buying / Jan 26	160.75
USD to Japanese Yen / Jan 26	103.78
USD to Swiss Franc / Jan 26	0.89
Pound Sterling to USD / Jan 26	1.37
Euro to USD / Jan 26	1.21

Stock	Volume
S&P 500 / Jan 26	3842.69
India Sensex / Jan 26	48347.59
Tokyo Nikkei / Jan 26	28822.29
Nasdaq / Jan 26	13577.42
Hang Seng / Jan 26	30159.01
FTSE 100 / Jan 26	6638.85
Dow Jones / Jan 26	30870.85
Germany DAX 30 / Jan 26	13643.95
France CAC40 / Jan 26	5472.36

Indicator	Value
UK LIBOR % / Jan 26	0.09

Remittances

Think out-of-box FDI (II)

C/A surplus streak ends

Think out-of-box FDI

IT exports remittances surge 38.16 percent

Remittances from Overseas Pakistan projected to hit $28bn this year

Remittance growth: ephemeral or sustainable?

PM praises overseas Pakistanis for record Dec remittances

H1 workers’ remittances post 25pc growth

Qureshi emphasises importance of ‘economic diplomacy’

Explainer! How did Pakistan’s Remittances continue to grow despite COVID-19?

Remittance narratives

PM thanks Overseas Pakistanis as amount remitted in Roshan Digital Account crosses $200 million

Bukhari applauds Overseas Pakistanis as remittance boom continues

Remittance resurgence a tonic but no cure for sickly emerging economies including Pakistan

Pakistan to receive $1.5 billion from China to repay Saudi Arabia debt

Need to sustain strong Remittances flow to get ‘true economic independence’: Asad

Trend Continues; Remittances from Overseas Pakistanis remain above $2bn

Pakistan’s Remittances remain over $2bn for Fifth consecutive month

Covid-19 crisis: WB projects 9 percent growth in remittances

GIDC judgment: SC tells govt to inform about initiation of gas projects

Remittance flows to fall 14pc by 2021 as migration falls: WB

GIDC review petitions: SC cannot make ruling on matters pending before high courts: counsel

SBP brings new mechanism on disinvestment proceeds remittance

Disinvestment proceeds: SBP further streamlines process of remittance

CCoE directs PD to utilize GIDC as per SC directives

FY 2020-21 Q1: IT, ITeS export remittances surge to $379.251 million

Pakistan's C/A post surplus for third successive month on back of remittance & exports

Remittances exceeding expectations

Remittances show encouraging growth: PM

Remittances top $2bn for fourth month

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