Tribune
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SBP receives $1b loan tranche from IMF | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan has received an installment of $1.053 billion from the International Monetary Fund under the Extended Fund Facility worth $6 billion. “Following the successful completion of the sixth review of the IMF program, SBP has received the next tranche of $1.053 billion,” the State Bank of Pakistan stated on…
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Oil hits seven-year highs as US storm heightens supply concerns | The Express Tribune
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[ad_1] LONDON: Oil prices reached seven-year highs on Friday as geopolitical tensions and a winter storm in the United States fuelled concerns over supply disruptions. Brent crude rose $1.29, or 1.4%, to $92.40 a barrel by 1100 GMT, having earlier touched its highest since October 2014 at $92.66. US West Texas Intermediate crude rose $1.36,…
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PM Imran’s China trip to give fresh fillip to CPEC | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan and China are scheduled to sign a five-year Industrial Cooperation Framework Agreement to re-energise the China-Pakistan Economic Corridor (CPEC). Moreover, Islamabad would also seek rollover of $4 billion Chinese loans and increase in size of $4.5 billion trade finance facility The broad-based discussions will be held in Beijing as Prime Minister Imran…
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Expert for uplifting cottage industry | The Express Tribune
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[ad_1] ISLAMABAD: Traditional cottage industries and handicrafts continue to play an important role in the economies of all Asian countries, Pakistan Furniture Council Chief Executive Officer Mian Kashif Ashfaq underlined. Talking to students from the Institute of Communication Studies (Punjab University), he maintained that the cottage industry “plays a significant role in improving the economic…
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Kazakhstan for increasing trade | The Express Tribune
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[ad_1] SIALKOT: Exporters from Sialkot should come forward and tap the markets of Kazakhstan to strengthen bilateral trade between the two countries, said Ambassador of Kazakhstan to Pakistan Yerzhan Kistafin. In a meeting with members of Sialkot Surgical Instrument Manufacturers Association on Thursday, the envoy said that both countries had been enjoying cordial trade relations.…
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SBP introduces Raast P2P payment service | The Express Tribune
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[ad_1] KARACHI: The State Bank of Pakistan (SBP) has launched a person-to-person (P2P) funds transfer service in the country through its instant payment system Raast. This would provide a convenient and hassle-free digital funds transfer service to customers across the country, said a statement issued by the SBP on Thursday. Moreover, it will also provide…
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Industry advocates iron ore import from Afghanistan | The Express Tribune
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[ad_1] KARACHI: Pakistan can tap iron ore reserves of Afghanistan to reduce the cost of domestic steel production, suggested Federation of Pakistan Chambers of Commerce and Industry President Mian Nasser Hyatt Maggo. Identifying the enormous untapped potential of Afghanistan’s Hajigak mine, he urged the government to help commission a feasibility study to assess the potential…
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SBP reserves fall $463m to $15.73b | The Express Tribune
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[ad_1] KARACHI: The foreign exchange reserves held by the central bank fell 2.86% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. On January 28, the foreign currency reserves held by the SBP were recorded at $15,727.6 million, down $463 million compared with $16,190.1 million on January…
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Rupee recovers to two-month high | The Express Tribune
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[ad_1] KARACHI: Pakistani currency hit a two-month high of Rs175.52 against the US dollar in the inter-bank market on Thursday after the International Monetary Fund (IMF) resumed its $6 billion loan programme and approved the release of next tranche of $1 billion. The rupee recovered 0.51% (or Rs0.89) to Rs175.52 compared to Wednesday’s close of…
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Growth may slow down to 4.5%: Baqir | The Express Tribune
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[ad_1] ISLAMABAD: State Bank of Pakistan (SBP) Governor Dr Reza Baqir said on Thursday that economic growth may slow down to around 4.5% in current fiscal year and inflation and current account deficit would remain the two key challenges. “We are trying our best to contain the current account deficit through exchange rate and interest…
