Express
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Forex reserves fall by $354m to $4.24b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank fell by 7.7% on a week-on-week basis to $4.24 billion, according to data released by the State Bank of Pakistan (SBP) on Thursday. On March 24, 2023, the SBP’s foreign currency reserves stood at $4,244.3 million, down by $354 million compared to $4,598.7 million…
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Chinese loan rollover of $2bn in process: govt source | The Express Tribune
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[ad_1] KARACHI: The rollover of a $2 billion Chinese loan to Pakistan that matured on March 23 is in process, a top government source told Reuters. With the country locked in unsuccessful talks to secure bailout funding from the International Monetary Fund (IMF), the rollover is critical for foreign exchange reserves that have dipped to…
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Riyadh signals readiness to provide more credit | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan claimed on Wednesday that it received an indication from Saudi Arabia for additional loans that may help to break gridlock with the International Monetary Fund (IMF) and said that it was not planning to prematurely quit the $6.5 billion programme. “We have received an indication from Saudi Arabia about getting something,” Dr…
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EU removes Pakistan from ‘list of High-Risk Third Countries’ | The Express Tribune
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[ad_1] The European Union (EU) on Wednesday removed Pakistan from its list of ‘High-Risk Third Countries’ for anti-money laundering and terrorist financing purposes, according to the Ministry of Commerce. The EU Commission is mandated to identify high-risk third countries having strategic deficiencies in their regime on anti-money laundering and countering the financing of terrorism (AML/CFT).…
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Meta to lower bonuses for employees: WSJ | The Express Tribune
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[ad_1] BENGALURU: Facebook owner Meta Platforms Inc is planning to lower bonus pays for some employees, and assess staff performance more frequently, the Wall Street Journal reported on Tuesday, citing an internal memo. Employees of the social media giant, who get a rating of “met most expectations” in their 2023 year-end reviews, will receive a…
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Rupee stabilises against dollar at 283.55 | The Express Tribune
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[ad_1] KARACHI: Pakistani rupee continued to stabilise around current levels on Tuesday as it inched up 0.01%, or Rs0.03, and closed at Rs283.55 against the US dollar in inter-bank market. The rupee managed to inch up owing to low demand for dollar amid critically low foreign exchange reserves of the country at $4.6 billion. The…
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ECC defers handing over airports to foreign country | The Express Tribune
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[ad_1] ISLAMABAD: The government on Monday did not endorse an advisory service agreement with an arm of the World Bank Group for handing over Pakistan’s three international airports to a foreign country due to objections raised by some cabinet members. The Economic Coordination Committee (ECC) of the Cabinet, which deferred the approval of the agreement,…
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BOI assures businessmen of minimising regulations | The Express Tribune
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[ad_1] LAHORE: Board of Investment (BOI) Secretary Asad Rehman Gilani has said that the industry is bound to deal with 70 different types of regulators in the country, which shouldn’t be the case. Speaking at the Lahore Chamber of Commerce and Industry (LCCI), the BOI secretary pointed out that they had launched Pakistan Regulatory Modernisation…
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Stagflation: a complicated situation for policymakers | The Express Tribune
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[ad_1] LAHORE: Political temperature in Pakistan is on the rise owing to the lingering situation. The cat and mouse game keeps on increasing political turbulence. A temporary pause in dialogue between Pakistan and the International Monetary Fund (IMF) is also aggravating the economic situation. Political turbulence and the dialogue standoff are enhancing economic uncertainty. The…
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Personal data – a big threat | The Express Tribune
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[ad_1] ISLAMABAD: In today’s world, personal information is the biggest asset for any person. It can be used to harm financially, physically and emotionally. The trade of protecting personal information is called data protection and privacy. Data privacy is a rapidly evolving area of concern in today’s digital world. With the rise of the internet…
