According to the Federal Bureau of Statistics, the price of a 20 kg flour bag has risen to Rs. 720 in one week.Residents in Slamabad have been impacted the worst by the flour price hike, and are now obliged to purchase the most costly flour in the country.The price ofRead More →
The Pakistan Tehreek-e-Insaf (PTI) government borrowed $52 billion in external loans in three years and eight months, placing it first among the previous four governments. In fact, the PTI returned 70% of the debts incurred by previous governments. It had surpassed Pakistan Muslim League (PML-N), which had $49.761 billion inRead More →
Pakistan’s liquid foreign reserves fell by $115 million in the week ending April 30, 2022, representing a 0.7 percent drop week on week.According to the SBP weekly report issued on Friday, the country’s total liquid foreign exchange reserves fell by $115 million (-0.7 percent) on April 30, 2022, to $16.553Read More →
The National Bank of Pakistan (NBP) Board of Directors met to discuss the bank’s financial performance and approved the condensed interim financial statements for the three months ending March 31, 2022.As the most profitable bank, the National Bank of Pakistan has surpassed United Bank Limited and HBL. As a result,Read More →
On Thursday, the Federal Shariat Court deemed Pakistan’s Interest Act 1839 un-Islamic, ordering the government to replace the Riba-based financial system with an Islamic one within five years.On April 12, a full bench of the Federal Shariat Court (FSC), led by Chief Justice Muhammad Noor Meskanzai and included Justice Dr.Read More →
As part of the bank’s goal to consolidate its overseas operations and increase its focus on local and lucrative businesses across the country, Habib Bank Limited (HBL) is closing its branch in Lebanon.The bank has started the process of winding down its Lebanon business in a controlled manner. According toRead More →
Despite slow development since February and growth in economic activity fluctuating about 4% for the previous two months, inflationary and external sector risks are generating macroeconomic imbalances in the nation, according to the Ministry of Finance’s Monthly Economic Update & Outlook.Furthermore, economic activity in Pakistan’s major trading partners has beenRead More →
CAIRO, Egypt (AP) – Saudi Arabia offered a $5 billion aid package for cash-strapped Egypt on Wednesday, where the economy is under strain due in part to the economic consequences from Russia’s conflict on Ukraine. The monies, which were placed in Egypt’s Central Bank, are part of Saudi Arabia’s “tirelessRead More →
As investors and traders considered the latest developments in the Ukraine crisis and more hawkish statements from US Federal Reserve officials, Asian stocks dipped on Thursday (March 24), while the sell-off in US Treasuries stalled and oil prices increased. The Nikkei 225 index of Japan started the morning session downRead More →
ISLAMABAD, Pakistan – On Saturday, Prime Minister Imran Khan stated that timely steps to reduce the current account deficit are bearing fruit. The Prime Minister stated in a tweet that the current account deficit reduced to $0.5 billion in February, which is $2 billion less than in January and theRead More →
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