KARACHI: Amid the daily dollar rate appreciation, banks have doubled their buying of the US currency and are sending it abroad via credit cards while the government grapples to control greenback outflows. The State Bank of Pakistan (SBP) on Friday reported the closing price of the dollar at Rs236.84, an increase of 96 paise compared to the previous day’s rate …

ISLAMABAD, May 5: Process Simplification, facilitation to public and digitalization of incorporation processes has led to extraordinary growth of 186% in incorporation of new companies in April 2021. The SECP, in April has registered a total 2,185 new companies, 186% higher as compared to the same month last year, raising the total number of registered companies to 141,805. In April, …

Microsoft founder Bill Gates is no longer a bitcoin bear. He has now taken a neutral stance on bitcoin as an investment. However, as an innovation, he says that cryptocurrency is one that the world would be better off without because it allows for certain criminal activities. Bill Gates Changes His Mind About Bitcoin Bill Gates spoke about bitcoin and …

Ufone has now eliminated the need for physical installation of SIMs with the introduction of eSIM for its customers. The Pakistani telecom operator has partnered with Giesecke+Devrient Mobile Security (G+D) to launch these SIMs across the country.  The Ufone eSIM platform enables subscriberswith a compatiblehandsetto integrate multiple SIM card numbers directly into their phones or IoT devices, using the internet. …

Karachi-headquartered fintech Safepay has raised seed funding from global financial technology platform company Stripe. The startup did not share the exact size of the deal but has told us that it’s a seven-figure (USD) amount alongside participation of other local and international investors. The round also includes Berlin-based Global Founders Capital (which invested last month in Bazaar ), US-based HOF Capital, Soma …

KARACHI: VINNCORP, a digital tech startup, has secured its first around of funding from HRSG, a leading people and business solutions firm. The six figure initial investment of US dollars 100000 from HRSG will help enhance VINNCORP’s reach both locally and globally. Commenting on the occasion, Mr. Khurram Gulistan founder and CEO VINNCORP said “We are confident that this investment will help …

An anonymous Indian official has claimed the country’s parliament will soon introduce a blanket bank on crypto assets, and give hodlers three-to-six months to liquidate. An anonymous source claiming to be a senior Indian Finance Ministry official has claimed that the use of crypto assets will soon be completely banned in the world’s second most populated country. Speaking to Bloomberg, …

American publisher Steve Forbes has attacked bitcoin’s fixed supply saying this feature actually curbs the ability of the crypto to “meet the needs of a growing economy.” He also argues that bitcoin cannot replace the dollar because it is presently too volatile to function as money. Forbes insists that money only works best if it has a stable value. New …

Karachi: BankIslami, in line with its vision to enable and promote cash-less and digital payments, becomes the first Islamic bank to go live with NIFT ePay. National Institutional Facilitation Technologies (NIFT), one of the largest payment processors in Pakistan launched its services for enabling digital commerce payments (Mobile / Electronic Commerce Payments) through NIFT’s DFS platform under the brand name “NIFT …

Loot Sale, a Pakistan based eCommerce startup, aiming to bridge the gap between the consumers’ want of constant discounts and retailers’ need for fast inventory turn-over. Loot Sale has secured seed capital from Light Speed Ventures, a multi-strategy fund focused on the early-stage tech ventures. The brands’ motto, “Pay Less, Shop More” clearly conveys sentiments to the 220 million audience …

Islamabad: Today we’ve reached a huge milestone! ? The State Bank of Pakistan has finally granted SadaPay approval to officially begin pilot operations. ?‍✈️ Until now, we had been testing our app and debit card internally with friends and family under our “in-principle” approval, which was awarded to us by the State Bank of Pakistan (SBP) earlier this year. We know …

Black Friday — the day that launched 1,000 other shopping holidays — may have lost its place as the “start” of the Christmas shopping season by now (it gets bigger and earlier with each passing year). But the day after Thanksgiving still pulls in a crowd of buyers looking for a bargain and remains a major bellwether for tracking how sales …

TikTok’s rise in the West is unprecedented for any Chinese tech company, and so is the amount of attention it has attracted from politicians worldwide. Below is a timeline of how TikTok grew from what some considered another “copycat” short video app to global dominance and eventually became a target of the U.S. government. 2012-2017: The emergence of TikTok These …

The Nest I/O, Pakistan’s most reputable technology incubator is hosting the fourth iteration of its premium technology and entrepreneurship conference, 021Disrupt 2020. The conference will be held virtually from Novmeber 30th – December 5th. The upcoming edition will host over 5000+ disruptors in the entrepreneurial, technology, and digital ecosystem of Pakistan. This year, 021 Disrupt is virtual that brings the …