Figure Technology Solutions (NASDAQ: FIGR) has recently received a number of price target changes and ratings updates: 1/14/2026 – Figure Technology Solutions had its price target raised by analysts at Piper Sandler from $55.00 to $75.00. They now have an “overweight” rating on the stock. 1/13/2026 – Figure Technology Solutions had its price target raised [...]
Sen. Kirsten Gillibrand, D-N.Y., is "very optimistic" the Senate Agriculture Committee's updated legislation to regulate cryptocurrencies will advance, even though Republicans have yet to reach a deal with Democrats."Senators have been working on a bipartisan basis for the last six months pretty...
Ahead of a hearing next week to debate and vote on a sweeping crypto bill, members filed several changes to the legislation.
ISLAMABAD: The Ministry of Commerce (MoC), in consultation with the State Bank of Pakistan (SBP), Pakistan Single Window (PSW), and Customs, is framing a stringent mechanism to prevent misuse of the Rs15 billion financial assistance approved for rice exporters for a three-month period, sources close to the Secretary Commerce told Business Recorder.The Export Development Board (EDF), chaired by the Commerce Minister, approved the financial assistance for the rice sector despite opposition from several board members.Chairman of the Rice Exporters Association of Pakistan (REAP), Faisal Jahangir, said rice is Pakistan’s second-largest export after textiles and a critical source of foreign exchange, rural employment, and agri-industrial activity.READ MORE: Industries hit back at decision to extend over Rs15bn to rice exportersHe noted that rice exports rose from USD 2.04 billion in FY2021 to USD 3.93 billion in FY2024 due to temporary global supply disruptions, but eased to USD 3.35 billion in FY2025 as major suppliers re-entered the market.The decline has intensified in the current financial year, with exports during July–December falling by approximately USD 854 million year-on-year. Of this, non-basmati rice accounted for USD 716 million, while basmati exports declined by USD 138 million, reflecting a broad-based loss of competitiveness across both premium and volume segments.Global oversupply, led by India’s return to the export market with heavy subsidies, has depressed prices and widened the price gap. Indian basmati is priced at around USD 850–900 per metric ton, compared to USD 1,150–1,275 per metric ton for Pakistani basmati.At the same time, elevated domestic paddy prices, high financing costs, stock accumulation in importing countries, and regional trade frictions have further constrained exports, creating liquidity stress across the value chain.Jahangir emphasized that production is not the constraint, as Pakistan has an exportable surplus of about 4.1 million metric tons, translating into near-term export potential of around USD 2 billion if short-term competitiveness issues are addressed. He requested financial support until June 30, 2026, at the rate of 9 percent for basmati and 3 percent for non-basmati rice exports.Chief Executive of TDAP, Faiz Ahmad Chadhar, observed that last year’s export increase was primarily due to India’s export ban, which benefited Pakistani exporters. With India’s return, the decline in global share was not unexpected. He added that farmers have already sold their crops, raising concerns that the subsidy may benefit only a few supply-chain participants.Chairman of PHMA, Babar Khan, stressed that DLTL is a federal policy initiative under the Ministry of Commerce and not an EDF matter. He opposed the proposal, arguing that similar challenges are faced by the value-added apparel and textile sectors.PHMA called for a uniform and equitable policy framework for all export sectors and recommended returning EDS collections to exporters rather than cross-subsidizing a single sector. He also pointed out that the meeting was convened at short notice and no detailed proposal had been shared in advance.Bilal Shahid Tata, CEO of Tata Best Food Ltd, also opposed the proposal, stating that such subsidies contradict the mandate of the EDF. He warned that approving the scheme could trigger similar demands from other sectors and noted that subsidies are not a long-term solution.Instead, he emphasized EDF’s role in addressing structural issues such as R&D, branding, technology upgradation, and skill development.Board members suggested that REAP submit proposals focused on improved crop management, water-efficient farming techniques, and higher per-hectare yields, warning that short-term subsidies could distort domestic markets and fail to address long-term competitiveness.Chairman of the Fruit and Vegetable Exporters, Importers & Merchants Association, Waheed Ahmed, said similar challenges are faced by fruit and vegetable exporters and stressed the need for long-term planning and unbiased support across all exporting sectors.Secretary Commerce, who is also Vice Chairman of the Board, informed members that in November 2025 the Prime Minister directed the MoC and relevant ministries to engage with chambers and associations to identify export challenges.He noted that Pakistan’s exports have declined during the current year, with the rice sector being the most affected. Rice exports have dropped by nearly 50 percent, accounting for almost 60 percent of the total export decline of USD 1.4 billion.He added that the Prime Minister has directed the Finance Division to provide a Rs20 billion federal grant to EDF in the next financial year, addressing concerns over EDF replenishment.Executive Director General (EDG) MoC, Muhammad Ashraf, said REAP had shared data with the ministry’s Agro Wing, based on which a presentation was developed. He stated that rice production increased from 9.02 million MT to 9.34 million MT, with an export surplus of 0.6 million MT of basmati and 3.5 million MT of non-basmati rice.Export volumes declined from 2.9 million MT to 1.8 million MT during the first six months of the current year, while the average price gap of USD 100–150 per MT continues to hurt competitiveness.He estimated that Rs30 billion would be required for a six-month scheme.The Commerce Minister, as Chairman of the Board, recommended approval of the proposal in light of the Prime Minister’s directives and assured that EDF’s financial strength would not be compromised.The Secretary Commerce proposed approval of the scheme with a 90-day review to assess its impact on supply, demand, and pricing trends. He also directed that SBP, PSW, and Customs be consulted to launch the scheme through a digital payment system within a week to prevent mis-declaration and misuse.Following detailed deliberations, the Board approved funding of Rs15 billion at 3 percent for non-basmati and 9 percent for basmati rice on FOB value until June 30, 2026.The Board also approved increasing EDF’s annual budget to Rs27.3 billion and outlined strict monitoring, digital disbursement, and a mandatory 90-day performance review.Copyright Business Recorder, 2026
KARACHI: Pakistan’s capital market is set to enter a faster and more efficient era as the Pakistan Stock Exchange (PSX) transitions from a T+2 to a T+1 settlement cycle, effective February 9, 2026, marking a major reform aligned with international best practices.The move, spearheaded by the Securities and Exchange Commission of Pakistan (SECP), will reduce the time required to complete securities transactions, allowing trades to be settled within one business day instead of two.Market participants say the initiative represents a significant step toward enhancing operational efficiency, risk management, and investor confidence.Under the new settlement framework, shares purchased on a trading day will be credited to investors’ accounts on the next business day, while sellers will receive funds within 24 hours of trade execution. Previously, the settlement process required two business days, often tying up capital and limiting trading flexibility.Industry experts believe the transition will substantially reduce counterparty risk by narrowing the settlement window and minimizing the chances of default. Faster settlements are also expected to improve market liquidity, enabling investors to redeploy capital more quickly and manage portfolios with greater agility.The shift to T+1 is anticipated to enhance the overall attractiveness of the Pakistan Stock Exchange, particularly for foreign institutional investors who increasingly favour markets with shorter settlement cycles. By adopting this model, Pakistan joins leading global markets such as the United States and India, both of which have already implemented T+1 settlements.The successful rollout of the new system is the result of coordinated efforts among key market institutions, including the National Clearing Company of Pakistan Limited (NCCPL) and the Central Depository Company (CDC), along with industry stakeholders such as the Mutual Funds Association of Pakistan (MUFAP), the Pakistan Stock Brokers Association (PSBA), and the Pakistan Banks Association.Leading equity markets such as the USA, China, Mexico, Argentina, and India have already embraced faster settlement cycles, while the European Union is planned to transition in October 2027.Regulators and market participants view the reform as a critical milestone in the modernization of Pakistan’s capital markets, reinforcing the country’s commitment to building a more resilient, transparent, and globally competitive financial ecosystem.Copyright Business Recorder, 2026
ISLAMABAD: The multi-layered tax regime on gold transactions, combined with weak enforcement and a lack of integration between federal and provincial systems, has allowed many traders to operate outside the formal economy.This has been mentioned in the “Competition Assessment Study on the Gold Market in Pakistan” conducted by the Competition Commission of Pakistan (CCP).“The patchwork of Statutory Regulatory Orders of the Federal Board of Revenue (FBR) has created overlaps and confusion in the gold industry. The tax regime is complex and inconsistent, discouraging formal participation and incentivizing smuggling and under-invoicing,” it added.READ MORE: $8bn–$12bn of Pakistan’s gold trade hides in the shadows: CCPCurrently, the market is regulated through a fragmented set of rules and agencies - ranging from the Ministry of Commerce (e.g., SRO 760), the FBR (e.g., taxation and AML regulations), and the SBP (e.g., import controls), to various provincial authorities and trade associations. This disjointed structure creates regulatory overlaps, policy contradictions, and jurisdictional ambiguities that complicate compliance for market participants. Without a clear chain of command or cohesive regulatory roadmap, traders face conflicting requirements on documentation, taxation, and trade authorization, all of which raise the cost and complexity of doing business.The report revealed that Pakistan’s gold market operates under a complex regulatory framework involving multiple institutions, including the Ministry of Commerce (MoC), Federal Board of Revenue (FBR), State Bank of Pakistan (SBP), Trade Development Authority (TDAP), and Pakistan Gems & Jewellery Development Company (PGJDC). Key regulations governing the sector include SRO 760(I)/2013 for import/export controls, SRO 924(I)/2020 for AML/CFT compliance, and SRO 297(I)/2023 establishing differential tax rates. The Sales Tax Act 1990 imposes a 17 percent tax on gold imports (with exemptions under entrustment schemes) and a reduced 3 percent rate for domestic jewellery manufacturing, while the Income Tax Ordinance 2001 applies withholding taxes and presumptive taxation. This fragmented oversight, combined with high compliance costs and weak enforcement of hallmarking standards, creates market distortions that favor informal trade and smuggling. The recent suspension of SRO760 has further exacerbated regulatory instability, highlighting the urgent need for policy harmonization and stronger institutional coordination to promote transparency and fair competition in Pakistan’s gold market.The financial burden on exporters is exacerbated by excessive regulatory requirements. The 1 percent cash margin imposed on imports ties up working capital, particularly affecting small and medium enterprises (SMEs). Additionally, duplicate taxation - such as withholding tax on exports and cash withdrawals - erodes profit margins. The high cost of obtaining ATA Carnets (an internationally recognized customs document) through third parties, rather than government issuance, adds unnecessary expenses. Furthermore, mandatory random testing of jewellery by customs authorities often results in damaged goods and shipment delays, increasing costs and discouraging formal trade.The study revealed that the Federal Board of Revenue (FBR) acts as Pakistan’s primary fiscal regulator for the gold market, overseeing taxation, customs enforcement, and anti-smuggling efforts (FBR). Its regulatory framework is based on key laws such as the Income Tax Ordinance, 2001, the Sales Tax Act, 1990, and the Customs Act, 1969, along with periodic Statutory Regulatory Orders (SROs). While the FBR has established mechanisms to monitor gold transactions, its effectiveness is often undermined by structural and operational challenges.The FBR imposes a multi-layered tax regime on gold transactions to reduce evasion and bring informal businesses into the tax net.Under the Income Tax Ordinance, 2001, Section 148 mandates withholding taxes on gold purchases, while Section 181 requires gold traders and jewelers to register and file returns. However, compliance remains inconsistent, particularly among small-scale traders and in informal markets like sarafa bazaars, whereUnder reporting is widespread. The Sales Tax Act, 1990 imposes a 18 percent tax on gold jewellery. The section 21 mandates record-keeping, but enforcement gaps allow undocumented trade to persist.In regulating gold imports - a critical function given Pakistan’s reliance on foreign gold - the FBR uses the Customs Act, 1969 to levy duties (adjusted via SROs like SRO 598(I)/2023) and combat under-invoicing (Section 32). While Section 18 allows duty adjustments to stabilize the market, and Section 16 permits confiscation of smuggled gold, porous borders with Afghanistan and Iran continue to facilitate illegal inflows.The FBR coordinates with the State Bank of Pakistan (SBP) on foreign exchange controls, sometimes restricting imports to conserve dollar reserves. Yet, these measures often lead to supply shortages and price volatility, highlighting the limitations of reactive policies, it maintained.To counter informal trade, FBR has introduced measures like mandatory CNIC reporting for high-value purchases, electronic monitoring via the Track and Trace System (SRO 1047(I)/2022), and cash transaction reporting under section 21A of the Income Tax Ordinance. However, weak enforcement and lack of integration between federal and provincial systems allow many traders, especially in rural areas, to operate outside the formal economy.The FBR collaborates with the SBP, SECP, and MoC on broader economic policies, such as tax amnesty schemes (2019 Asset Declaration Scheme) and joint oversight under the Foreign Exchange Regulation Act, 1947. However, these initiatives have seen limited long-term success due to corruption, complex tax structures, and weak enforcement.Copyright Business Recorder, 2026
ISLAMABAD: Raqami Islamic Digital Bank, backed by the Kuwait Investment Authority (KIA), is set to launch operations in Pakistan next month with an initial investment of USD 100 million, marking a significant boost for the country’s financial sector.Advisor to the Finance Minister, Khurram Schehzad, shared the details with the media, describing the development as a strong vote of confidence in Pakistan’s improving economic outlook and ongoing reform momentum.“This investment reflects growing international trust in Pakistan’s economic direction and the government’s reform agenda,” Schehzad said.Raqami Bank is supported by the Kuwait Investment Authority, the sovereign wealth fund of the State of Kuwait, one of the world’s largest and most respected institutional investors. The bank will operate as a fully digital Islamic bank, aiming to expand financial inclusion and modernize Pakistan’s banking landscape through technology-driven services.According to Schehzad, the launch of Raqami Islamic Digital Bank signals rising investor confidence and highlights the strengthening investment partnership between Pakistan and Kuwait, particularly in the financial and digital economy sectors.He added that such investments are expected to play a key role in deepening bilateral ties and supporting Pakistan’s efforts to attract foreign capital, promote digital transformation, and enhance the overall stability of the financial system.Copyright Business Recorder, 2026
KARACHI: Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Amaan Paracha, has said that despite all promises, the government has failed to provide relief to the business community.Due to flawed policies, the country’s economy is on the brink of destruction, exports are continuously declining, and there is an urgent need to announce effective measures in the upcoming Federal Budget 2026–27 to clearly improve policies in order to put the country on the right track.He emphasized that before formulating policies in the budget, consultation with all stakeholders must be ensured so that there remains no room for any anomalies in policymaking.The FPCCI Vice President said that government officials are not willing to accept the legitimate concerns of traders, due to which businesspeople are forced to approach the courts or the Federal Tax Ombudsman (FTO).These processes consume considerable time and lead to growing frustration and disappointment within the business community.Amaan Paracha further stated that the International Monetary Fund’s (IMF) Resident Representative, Maher Bibi, has pointed out that high inflation has severely affected the Pakistani population, especially low-income groups.Therefore, the IMF has stressed the importance of a strict and credible monetary policy, the independence of the central bank, and controlling inflation expectations to ensure price stability.He added that the federal government has recently imposed an additional burden on electricity consumers by increasing power tariffs for three months, while NEPRA has also approved an additional charge of 32 paisas per unit under quarterly adjustments.This extra amount will be recovered from consumers for electricity units used in December, January, and February. On one hand, the government continues to claim a steady decline in inflation, and national and international rating agencies are also reporting economic improvement; however, ground realities are entirely different.Amid this severe inflation, it has become extremely difficult for poor citizens to sustain their livelihoods, while the younger generation, frustrated by unemployment, is increasingly migrating abroad.He concluded by saying that if all claims of declining inflation are truly based on facts, then why are their benefits not reaching the general public? Even the government’s own Bureau of Statistics appears to contradict these claims on a weekly basis, and now the IMF has also acknowledged that inflation has severely impacted low-income groups.Copyright Business Recorder, 2026
TSXV: PGZ | OTCQB: PGZFF | FRA: 2EU VANCOUVER, BC, Jan. 23, 2026 /CNW/ - Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV:PGZ) (OTCQB:PGZFF) (FRA: 2EU) announces that the Company's Board of Directors has approved the grant of a total of 1,015,150 Restricted Share Units (RSUs) to three executive officers at a deemed price per RSU of $0.165 as short-term incentive compensation. The RSUs have been issued under the Company's shareholder-approved Omnibus Equity Incentive Compensation Plan (the "Plan"). ...Full story available on Benzinga.com
Shares of Direxion Daily Semiconductors Bear 3x Shares (NYSEARCA:SOXS – Get Free Report) reached a new 52-week low during trading on Wednesday . The stock traded as low as $2.00 and last traded at $1.9550, with a volume of 129131262 shares traded. The stock had previously closed at $2.17. Direxion Daily Semiconductors Bear 3x Shares [...]
TravelSky Technology Ltd. (OTCMKTS:TSYHY – Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $13.4455, but opened at $14.50. TravelSky Technology shares last traded at $14.50, with a volume of 214 shares trading hands. TravelSky Technology Price Performance The business has a fifty day moving average [...]
Shares of Nano Nuclear Energy Inc. (NASDAQ:NNE – Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $33.86, but opened at $35.94. Nano Nuclear Energy shares last traded at $35.5540, with a volume of 1,603,601 shares trading hands. Analysts Set New Price Targets NNE has been [...]