Business
SBP buys $7.8 billion over 12 months | The Express Tribune
KARACHI:
The State Bank of Pakistan (SBP) carried out net foreign exchange interventions amounting to $7.8 billion between June 2024 and May 2025.
“The central bank purchased $522 million worth of foreign currency (US dollar) from the inter-bank forex market in May 2025,” noted Topline Securities. This brings last 12 months (June 2024 to May 2025) intervention to $7.76 billion.
These interventions led to an overall increase of $2.1 billion in the country’s foreign exchange reserves between June 2024 and May 2025, while the remaining amount was largely utilised for debt repayments, according to data compiled by Arif Habib Limited (AHL).
With May’s interventions of $522 million, the central bank’s reserves rose $1.24 billion to $11.52 billion. “The remaining amount was allocated to managing debt repayments,” noted AHL.
Moreover, the Pakistani rupee inched higher against the US dollar on Monday, appreciating 0.01% in the inter-bank market. At the close of trading, the local currency settled at 281.87, marking a gain of three paisa and extending its winning run to 12 consecutive sessions.
“However, the currency has depreciated 1.18% in the calendar year to date while posting an appreciation of 0.67% on a fiscal year-to-date basis,” said Ismail Iqbal Securities.
Last week, the rupee had posted another positive performance, rising 16 paisa to close at 281.90 compared to 282.06 a week earlier, according to figures released by the State Bank of Pakistan (SBP).
Meanwhile, gold prices in Pakistan remained stable, in contrast to the international market, where bullion fell as investors booked profits and a stronger US dollar weighed on sentiment.
Global focus has now shifted to the upcoming US Personal Consumption Expenditures (PCE) data for signals on the Federal Reserve’s policy outlook.
According to the All Pakistan Sarafa Gems and Jewellers Association, the local price of gold per tola stood unchanged at Rs359,800, while the rate for 10 grams also remained firm at Rs308,470. The precious metal had surged by Rs4,100 per tola on Saturday, touching Rs359,800.
Commenting on the trend, Interactive Commodities Director Adnan Agar said the market was unusually subdued. The low was at $3,359 and the high stood at $3,375.
“Today, the market is very cold and very quiet,” he noted. There was no such activity, although from Friday till now, the market had been up and was not down, he added.
Agar highlighted that only geopolitical developments such as the Ukraine-Russia conflict or fresh cues from the US Fed on rate movements could trigger movement in gold prices in the coming days.
Spot gold inched down 0.1% at $3,370.14 per ounce as of 0957 am ET (1357 GMT), after hitting its highest level since August 11 on Friday, according to Reuters. US gold futures for December delivery also fell 0.1% to $3,414.90.
The dollar nudged 0.2% higher against rival fiat currencies, making bullion priced in the dollar more expensive for foreign buyers.
NEW DELHI: People with job cards assigned under Mahatma Gandhi National Rural Guarantee Scheme will be able to get work without disruption when transition takes place to new rural employment framework under Viksit Bharat-Guarantee for Rozgar and Aajeevika Mission (Gramin) Act.Even though exact timeframe is not known yet, rural development ministry officials said the VB-G RAM G scheme will come into force in the coming financial year after the Centre frames and notifies the rules. After govt notifies the Act’s commencement date, states will get six months to make their schemes to enable implementation of the law.To ensure there is no disruption and job guarantee is upheld during transition from MGNREGA, it has been proposed to enable workers to use the same job cards issued under MGNREGA with Aadhaar-based eKYC.The officials said that as of now, around 75% of job cards have been verified with eKYC under the ongoing scheme. Moreover, ongoing projects under MGNREGA, if incomplete when the transition happens to the new scheme, would stay on course.Meanwhile, work is on to frame rules, lay out regulations on normative allocations, fund flow plan, IT framework, a national-level steering panel and social audits.Under the new law, focus will be on transparency to weed out leakages and duplicacy of work,the social audit system will be strengthened, and technology leveraged to create systems to establish work progress, timely wage payment and accountability through ‘e-measurement’ books, sources said. Demand for work will have to be entered on a digital platform. Officials made it clear the new law in no way interferes with demand-driven character of the scheme.
Business
Gurugram Attracts Rs 86,588 Crore In Real Estate Investments In 2025 As RERA Clears 131 Projects
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Alongside rising investments, Gurugram RERA strengthened regulatory oversight to safeguard homebuyer and investor interests
Gurgaon Real Estate (Representative Image)
Gurugram emerged as one of India’s top real estate investment destinations in 2025, with projects worth Rs 86,588 crore receiving regulatory approvals during the year, according to data from the Gurugram Real Estate Regulatory Authority (Gurugram RERA).
Market observers said the numbers reflect strong investor confidence in the NCR’s largest commercial and residential hub.
Gurugram RERA registered 131 projects in calendar year 2025, representing development potential of 35,455 units across housing and commercial segments.
A striking feature of the data was the dominance of large-ticket projects. Just 28 major developments accounted for investments worth Rs 59,360 crore, highlighting the growing influence of institutional capital and large developers in shaping Gurugram’s property market.
Residential assets continued to attract the bulk of investment interest. Of the total units approved, 31,455 were residential, underscoring sustained end-user demand and long-term confidence in the city’s housing fundamentals.
According to Authority data, the residential mix included 17,405 group housing units, 5,720 mixed land use units, 4,040 residential floor units, 2,122 affordable group housing units, 1,954 units under the Deen Dayal housing scheme, and 214 residential plotted colony units.
Market observers said this diversified supply pipeline indicates capital deployment across both premium and mass segments, helping reduce concentration risk and deepen market resilience.
On the commercial side, Gurugram RERA approved about 4,000 commercial units, of which 168 were dedicated to IT parks, reinforcing Gurugram’s position as a preferred hub for technology firms and Global Capability Centres.
Analysts noted that the combination of office-led employment growth and residential expansion continues to make Gurugram attractive for long-term capital deployment.
Industry experts said the scale of investments approved in 2025 highlights Gurugram’s ability to attract capital despite global uncertainty, supported by infrastructure growth, a strong corporate base and an improving regulatory environment.
“With a large pipeline of approved projects and sustained interest from developers and institutional investors, Gurugram is expected to remain a key real estate investment destination in the coming years,” a Gurugram-based real estate expert said.
Tighter regulatory checks
Alongside rising investments, Gurugram RERA strengthened regulatory oversight to enhance transparency and safeguard homebuyer and investor interests.
“These steps included stricter scrutiny of developer submissions, mandatory site inspections by domain experts, and public consultation through mandatory notices before project registration,” an Authority official said.
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January 16, 2026, 07:44 IST
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National Startup Day highlights India’s thriving startup ecosystem, celebrating innovation, entrepreneurship and job creation driven by founders, unicorns and Startup India mission
National Startup Day 2026 honours Indian startups, entrepreneurs and innovators driving economic growth and job creation.
National Startup Day 2026: India’s startup ecosystem has evolved into one of the world’s most vibrant and promising innovation hubs. To recognise the contribution of entrepreneurs, founders and startups transforming ideas into impactful solutions, National Startup Day is observed every year on January 16 across the country.
Launched by Prime Minister Narendra Modi in 2022, the day celebrates visionary entrepreneurs who play a crucial role in economic growth, employment generation and technological advancement.
National Startup Day serves as a reminder that innovation, backed by determination and policy support, can reshape society and create global impact.
National Startup Day 2026 Theme
The official theme for National Startup Day 2026 is yet to be announced. However, the core focus areas are expected to revolve around:
- Innovation and emerging technologies
- Entrepreneurship and leadership
- Self-reliance (Atmanirbhar Bharat)
- Startup India Mission
- Youth empowerment
- Job creation
How Startups Are Shaping India’s Future
India currently ranks as the third-largest startup ecosystem globally, with over 1.59 lakh startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) as of early 2025. Backed by 100+ unicorns, the ecosystem continues to grow rapidly.
Metro cities such as Bengaluru, Hyderabad, Mumbai and Delhi-NCR lead this expansion, while Tier-2 and Tier-3 cities are emerging as new innovation centres, adding diversity and scale to India’s entrepreneurial journey.
Startups across fintech, edtech, health-tech, e-commerce and deep-tech are addressing real-world challenges and gaining global recognition. Technologies like artificial intelligence, blockchain and IoT are increasingly driving innovation, according to Startup India ecosystem reports.
Industry-Wise Startup Impact
DPIIT-recognised startups have generated over 16.6 lakh direct jobs across sectors as of October 31, 2024, strengthening India’s employment landscape.
- IT Services: 2.04 lakh jobs
- Healthcare & Life Sciences: 1.47 lakh jobs
- Commercial & Professional Services: 94,000 jobs
Through the Startup India initiative, the government continues to focus on skill development, funding access, ecosystem collaboration and global outreach.
Key Initiatives Under Startup India
- Capacity building and mentorship
- Outreach and awareness programmes
- Ecosystem development events
- International exposure and global linkages
- Collaboration between startups, corporates and institutions.
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January 16, 2026, 07:00 IST
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