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Biden commits ‘historic’ $4bn to World Bank fund supporting poorest nations
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US President Joe Biden attends the first day of the G20 Summit in Rio de Janeiro, Brazil, on November 18, 2024. — Reuters US President Joe Biden announced a “historic” $4 billion pledge for a World Bank fund that helps…
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Taxpayers don’t need to visit bank under FBR’s new online payment system
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Headquarter of the Federal Board of Revenue in Islamabad. — APP/File The Federal Board of Revenue (FBR) on Wednesday introduced a new online payment creation system for the taxpayers which does not require them to visit bank physically. In a statement…
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Bank of England cuts interest rate as inflation slows
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A pedestrian crosses the streets in front of The Bank of England illuminated by a ray of sunlight, in central London, on February 12, 2024. — AFP The Bank of England on Thursday said it was cutting its key interest…
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State Bank makes major reduction in interest rate by 200bps to 17.5%
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State Bank of Pakistan building in this undated image. — AFP The Monetary Policy Committee (MPC) decided a significant reduction in the policy rate by 200bps to 17.5% from the existing 19.5%, the State Bank of Pakistan (SBP) announced on…
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State Bank of Pakistan slashes policy rate by 200 BPS amid falling inflation | The Express Tribune
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The State Bank of Pakistan (SBP) reduced its policy rate by 200 basis points to 17.5% on Thursday, as headline and core inflation saw a sharper-than-expected decline over the last two months. The rate cut will be effective from September…
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US election holds key to future of bank capital reforms | The Express Tribune
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WASHINGTON: US regulators will not be able to finalise controversial bank capital increases before the November presidential election, casting doubt on whether these and other strict proposed rules for Wall Street banks will be implemented at all, according to five…
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World Bank green-lights $1bn for Dasu Hydropower Project
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A photograph of the World Bank’s headquarter in Washington, DC. — AFP/File The World Bank on Tuesday green-lit a second round of additional $1 billion in financing to Pakistan aimed at funding the Dasu Hydropower Stage I (DHP I) Project, a statement released…
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World Bank to give Dasu project $1b | The Express Tribune
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ISLAMABAD: The World Bank will provide a $1 billion loan for the 2,160 megawatts Dasu hydropower project—a crucial initiative aimed at integrating cheaper electricity into Pakistan’s energy mix and showcasing the nation’s resilience against adversaries. This marks the third major…
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World Bank projects Pakistan’s economic growth at just 1.8% in FY24
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An undated image of World Bank Headquarters in Washington DC. — AFP With nearly 40% of Pakistan’s population slipped below the poverty line amid skyrocketing inflation, the World Bank (WB) on Tuesday projected cash-strapped nation’s economy to grow by only…
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World Bank approves $149.7m in financing for projects in Pakistan
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A person enters the building of the Washington-based global development lender, The World Bank Group, in Washington. — AFP/File The World Bank’s Board of Executive Directors Saturday approved $149.7 million in financing for Pakistan to support Digital Economy Enhancement Project…
