Daily Archives: December 21, 2021

Rupee Breaks Another All-Time Low Record Against the US Dollar

Although it is a redundant movement, the Pakistani Rupee (PKR) slid to a new all-time low against the US Dollar (USD) and depreciated by one paisa against the greenback in the interbank market today. It hit an intra-day low of

Thar Coal Rail Track Project Attracts €170 Million in Foreign Direct Investment

Railway Constructions Pakistan Limited (RAILCOP) has signed a memorandum of understanding (MoU) with M/s Al Furqan Holdings Private Ltd and BIL Pakistan (Pvt.) Ltd for the construction of a new 105-kilometer rail track in Thar Coal.The project, linking...

Small Businesses Get a Boost Thanks to New Bill

The recent amendments carried out through the Companies Amendment Bill, 2021 would significantly promote start-ups, business innovation, entrepreneurship and improve the general business climate in the country.Significant amendments include the additio...

UAE Company Wants to Acquire Samba Bank

Gulf Islamic Investments LLC, a UAE-based Company, has also shown its interest in acquiring shares of Samba Bank being one of the partners of Fatima Fertilizer Limited in the potential deal.According to the stock filing, Fatima Fertilizer Group, which ...

SBP Aasan Finance Scheme Will Be A Game Changer: Reza Baqir

State Bank of Pakistan (SBP) Governor Reza Baqir on Tuesday said that SBP Aasan Finance Scheme (SAAF) will be a game-changer in enhancing access to finance for small and medium enterprises (SMEs) as it addresses the long outstanding challenge of

Pakistani-Led Overjet Raises $42.5 Million Investment

Overjet, a Pakistani Led startup, has raised $42.5 million in a Series B funding round led by General Catalyst and New York-based venture capital firm, Insight Partners. Other investors in the round included Crosslink Capital and the MIT-affiliated E14...

ADB to Assist Pakistan to Overcome Gas Shortage Issues

The Asian Development Bank will help develop a system to bridge Pakistan’s gas shortage and finance its needs, ProPakistani has learned on good authority.The ADB has recently approved and started working on the gas systems of Pakistan with a special

Agri-Supply Chain Startup Raises $2.5 Million in Pre-seed Funding

Jiye Technologies, a Pakistan-based agri-supply chain platform, has raised $2.5 million in a pre-seed funding round led by numerous investors and venture firms.According to the startup’s official press release, the round saw participation from Rabeel W...