Pakistan News

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  • Work inspired by impressions of locations showcased

    The contributing artists, Mamoona Riaz and Farrukh Adnan, shared artwork that was mutually inspired by impressions of spaces and locations...

    “This exhibition presents multi-layered, exquisitely crafted pieces inspired by fragments, memories and impressions of locations that have impacted these two artists...

  • Hostage locations difficult to track and may be getting harder

    WASHINGTON: The US drone strike that accidentally killed two hostages in Pakistan exposes intelligence shortfalls that former and current US officials say appear to be growing more frequent as militants expand their safe havens and as Washington gathers less on-the-ground human intelligence...

    Obtaining timely intelligence on hostages has always been difficult, especially in volatile regions where the United States has limited access and...
  • Lists of LG constituencies being displayed at 231 locations

    KARACHI: The process of delimitation of constituencies of union committees, union councils and wards for holding the upcoming local government elections has been completed and currently the lists of proposed constituencies in the 29 districts of Sindh are on display at 231 designated centres and locations, it emerged on Monday...

  • Bank Alfalah declared best bank for 2017

    KARACHI: Bank Alfalah received the Best Bank Award for 2017 for demonstrating “the most significant contribution to national development and the most effective management of its resources, including its employees, clients, franchise community and financials”...

    United Bank received the same award last year...

  • India central bank says linking national ID number to bank accounts mandatory

    MUMBAI: India’s central bank on Saturday dismissed media reports that it was not necessary to link national identity card numbers, known as Aadhar numbers, to bank accounts...

    “The Reserve Bank clarifies that, in applicable cases, linkage of Aadhaar number to bank account is mandatory under the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2017,” it said in a statement...

  • Summit Bank eyes Burj Bank for Islamic banking entry

    KARACHI: Summit Bank has received approval from the State Bank of Pakistan (SBP) to conduct due diligence on Burj Bank, it said in a stock exchange filing, in the latest bid for the unlisted lender, which is seeking to boost capital through a stake sale...

    The acquisition of a majority shareholding in Burj Bank would fit the long term strategy of Summit Bank, which is planning to convert its operations to conform to Islamic principles...

  • Withholding tax slows down bank deposit growth: State Bank

    KARACHI: Withholding tax (WHT) on financial transactions is acting against the goal of achieving financial depth, a State Bank of Pakistan’s (SBP) report said on Friday, highlighting that for the first time since 2009-10 the monetary expansion came more from currency in circulation than the bank deposit growth...

    The campaign could not sustain despite the fact that the business community, particularly retailers and medium-sized...

  • Bahrain's Bank Alkhair gets nod to sell stake in Pakistan's Burj Bank

    Bahrain-based Bank Alkhair said on Wednesday it had received approval from the State Bank of Pakistan to sell its stake in Pakistan's Burj Bank to a subsidiary of Bahrain's Al Baraka Banking Group...

    Al Baraka, one of the Gulf's top Islamic banks, had said in September that its Pakistani unit, Al Baraka Pakistan, would merge with Burj Bank to create an institution with assets totalling more than $1...

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