Business News
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Dollar continues nosedive against rupee, closes at 217.97
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[ad_1] A file image showing a currency dealer counting $100 notes — AFP/File KARACHI: The Pakistani rupee continued its upward trajectory against the US dollar for the 12th consecutive session in the interbank market on Monday. The local unit appreciated…
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Monetary policy: SBP maintains status quo at 15%
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[ad_1] State Bank of Pakistan— AFP/File KARACHI: In line with the market expectation, the State Bank of Pakistan (SBP) Monday kept the key interest rate unchanged at 15% for the next seven weeks. “The committee was of the view that…
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SBP leaves key policy rate unchanged at 15% | The Express Tribune
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[ad_1] KARACHI: In line with market expectations, Pakistan’s central bank left its key policy rate unchanged at 15% for the next seven-week on Monday, as it revised down projection for economic growth to 2% for current fiscal year 2023. “The…
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LCs worth $50,000 to be cleared this week, announces Ishaq Dar
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[ad_1] Finance Minister Ishaq Dar addresses a press conference. Photo: YouTube/PTV News/screengrab ISLAMABAD: In a bid to provide relief to the business community, Finance Minister Ishaq Dar Sunday announced that the pending payments of letters of credit (LCs) worth $50,000…
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Pakistan for ‘roadmap’ to offset economic ‘shocks’ | The Express Tribune
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[ad_1] UNITED NATIONS: Pakistan, speaking for the Group of 77 (developing countries) and China, has called for a clear roadmap to overcome the recent series of “shocks” to the world economy, including the deadly coronavirus pandemic and the spike in…
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Stocks climb up on China loan rollover | The Express Tribune
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[ad_1] KARACHI: Bulls dominated trading at the Pakistan Stock Exchange (PSX) during the outgoing week with four sessions closing in the green. Investors’ buying interest revived as soon as China agreed to refinance a $2.24 billion loan. Investors took fresh…
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Dollar to fall below Rs200, says Dar | The Express Tribune
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[ad_1] ISLAMABAD: Finance Minister Ishaq Dar said on Saturday that the rupee had been regaining strength against the dollar and the dollar would fall below Rs200, because it had gone beyond its real value. Talking to a private TV channel,…
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WB announces allocating $2bn for Pakistan in flood-relief support
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[ad_1] Federal Minister for Finance and Revenue Ishaq Dar (centre) meets World Bank Country Director Najy Benhassine at Finance Division on October 8, 2022. — Finance Ministry ISLAMABAD: In a bid to help Pakistan tackle the ongoing climate-induced catastrophe, the…
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World Bank to provide $2 billion in flood relief to Pakistan | The Express Tribune
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[ad_1] ISLAMABAD: The World Bank has announced a $2 billion fund to eke out the reconstruction of infrastructures and rehabilitation of millions of flood victims across Pakistan. World Bank Country Director Najy Benhassine announced the decision during a meeting with…
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Academics urge cut in interest rate | The Express Tribune
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[ad_1] KARACHI: Opposing a further hike in the central bank’s benchmark interest rate, academics have urged a decrease to make liquidity affordable for businesses. The continuous hike has increased the quantum of interest payments on the country’s ever-growing debt. The…
