Workers’ remittances increase 9% to $2.284 billion in September

KARACHI: Workers’ remittances increased by 9% MoM to $2.284 billion in Sep-2020, as against $2.095 billion in Aug-2020. Compared to the same month last year, remittances registered a rise of 31% (Sep-2019: $1.740 billion). This was the fourth consecutive month of remittances crossing the $2 billion mark. On MoM basis,… Continue reading

Deutsche Familienversicherung plans strategic cooperation with VPV Versicherungen in life insurance

FRANKFURT: Deutsche Familienversicherung plans to offer product concepts including life insurance components in the future. This requires a life insurer as risk carrier. Deutsche Familienversicherung and VPV Versicherungen (VPV) have agreed that VPV will assume this role. Last year, VPV had entered the Insurtech from Frankfurt as a shareholder during… Continue reading

Porta Communications and SEC Global evaluate all-share merger of the two companies

LONDON: The Boards of Porta Communications Plc and SEC Global have entered into discussions concerning a potential all-share merger of the two companies. The Potential Merger would create a strategic communications company of scale with offices in key markets across the UK, Europe, the Middle East, APAC and South America…. Continue reading

Global home healthcare market to reach USD 414.68 billion by 2023

PUNE, INDIA: (GLOBE NEWSWIRE) — Global Home Healthcare Market is estimated to garner a valuation of USD 4,14,681.2 million during the forecast period (2017-2023), Market Research Future reveals in its latest report. The market is anticipated to scale at a healthy CAGR of 8.1% over the assessment period (2017-2023). A… Continue reading

Banco Santander to invest over €20 billion in digital and technology over the next 4 years

MADRID: At its Investor Day in London, Banco Santander presented its strategic plan for the medium term to drive growth and increase profitability by accelerating digitalisation, improving operational performance and continuing to improve capital allocation. Banco Santander will invest over €20 billion in digital and technology over the next four… Continue reading

Qatar Islamic Bank completes successful issuance of USD 750 million Sukuk

DOHA, QATAR: Qatar Islamic Bank (QIB), rated A1/A-/A (all stable) by Moody’s/Standard & Poor’s/Fitch, successfully priced a US$ 750 million 5-year Sukuk at par with a profit rate of 3.982% (equivalent to a credit spread of 150bps over US$ Mid-Swaps), a notice issued to Qatar Stock Exchange noted.[the_ad id=”31605″]The Qatar… Continue reading

Home textile showrooms, warehouses recommended at Port Antwerp to tap European market

KARACHI: The Commercial Section, Embassy of Belgium, has recommended opening showrooms and warehouses for home textiles at Port Antwerp in Brussels, which is the second largest port in Europe and generates massive economic activity for inland transit of goods to many European countries. “Belgium is an important economic hub because… Continue reading

Visa announces Fintech Fast-Track Program in Central & Eastern Europe, Middle East and Africa

KARACHI: Visa has announced it is expanding its Fintech Fast-Track Program in the Central and Eastern Europe, Middle East and Africa (CEMEA) region as part of its efforts in developing the next generation of digital payment solutions. Already rolled out in Europe, Latin America and Asia Pacific, the program provides… Continue reading

Directorate of Customs Valuation revises customs values of old, used machinery

KARACHI: The Directorate General of Customs Valuation has revised the customs values for the import of old and second hand machinery vide Valuation Ruling No. 571/2013. According to details, a representation was made by the All Pakistan Power Looms Association before the Honorable Tax Ombudsman for determination of customs values… Continue reading