Tribune
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Foreign exchange: SBP reserves drop $728m to $11.32b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank decreased 6.04% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On April 1, the foreign currency reserves held by the SBP were recorded at $11,319.2 million, down $728 million compared with $12,047.3 million on March…
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In a surprise, SBP hikes interest rate to 12.5% | The Express Tribune
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[ad_1] KARACHI: In a surprising move on Thursday, the State Bank of Pakistan hiked the interest rate by 250 basis points to 12.5% citing that outlook for inflation has deteriorated and risks to external stability have risen. The meeting took place 12 days in advance. The State Bank of Pakistan Monetary Policy Committee was scheduled…
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In a surprise, SBP hikes interest rate to 12.25% | The Express Tribune
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[ad_1] KARACHI: In a surprising move on Thursday, the State Bank of Pakistan hiked the interest rate by 250 basis points to 12.25% citing that outlook for inflation has deteriorated and risks to external stability have risen. The meeting took place 12 days in advance. The State Bank of Pakistan Monetary Policy Committee was scheduled…
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Rupee falls to Rs189.5 against dollar in inter-bank | The Express Tribune
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[ad_1] KARACHI: The Pakistani currency recorded a sharp drop of Rs3.39 on Thursday and plunged to an all-time low of Rs189.51 against the US dollar in intra-day trading in the inter-bank market owing to political turmoil in the country. The domestic currency had closed at Rs186.13 against the greenback on Wednesday. Sources said that rupee…
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‘Investment in transport linked to growth’ | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan has taken several transportation initiatives during the past decade including Lahore Orange Line, Karachi Green Line and Peshawar Bus Rapid Transit. In this regard, the Karachi Circular Railways (KCR) was also approved recently. This was stated by Planning Commission Deputy Chairman Mohammad Jehanzeb Khan at Asia and Pacific Transport Forum 2022, organised…
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PSX to add more companies to GEM board | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange (PSX) is in the process to list an additional three to four growth companies on its separately developed Growth Enterprise Market (GEM) board by the end of December 2022. To achieve this, the bourse has eased the eligibility rules for investors to trade the growth stocks which also carried…
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No relief for sinking rupee | The Express Tribune
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[ad_1] KARACHI: There was no respite for the rupee as it lost further ground on Wednesday and fell below the 186 mark in the inter-bank market to close at 186.13 against the US dollar. According to the State Bank of Pakistan (SBP), the Pakistani rupee had closed at Rs185.23 against the greenback on Tuesday. A…
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Cement sales contract 6.25% in March 2022 | The Express Tribune
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[ad_1] LAHORE: The cement sector reported a negative growth of 6.25% in March 2022 as its total sales dropped to 5.04 million tons during the month against 5.37 million tons in the same month of previous year. According to data released by the All Pakistan Cement Manufacturers Association (APCMA) on Wednesday, local cement offtake in…
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Pakistan’s economy to grow 4% | The Express Tribune
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[ad_1] ISLAMABAD: The Asian Development Bank (ADB) has said that Pakistan’s economy will slow down to 4% in the current fiscal year – the fifth lowest rate in South Asia – and inflation will remain in double digits amid worries that increasing prices can undermine growth prospects. Pakistan’s economic growth rate will moderate to 4%…
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State Bank’s digital banking scheme gets robust response | The Express Tribune
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[ad_1] KARACHI: State Bank of Pakistan’s (SBP) digital banking licences scheme has received a robust response from the financial institutions as the central bank received 20 applications from a diverse range of applicants. These included domestic commercial banks, microfinance banks, electronic money institutions and fintech firms, according to a statement released by the SBP on…
