SBP issues directives to banks regarding Assets Declaration Ordinance

KARACHI: The State Bank of Pakistan (SBP) on Wednesday issued directives to all banks to incline their operations to the newly-issued Assets Declaration Ordinance-2019. In a...

After Standard Chartered, Bank Alfalah launches app for biometric verification

After the launch of a biometric verification app by the Standard Chartered Bank earlier this month, another leading bank from the finance sector of...

Second Pakistan energy sukuk worth Rs200bn launched to pay circular debt

Earlier, in March, the government issued the first tranche of bonds worth Rs200 billion and Meezan Bank was the largest investor in the Sukuk with the participation of Rs88 billion

Nothing has been decided yet, ADB announces

The Asian Development Bank (ADB) has distanced itself from the recent announcement of the government that it was furnishing budgetary support in the amount...

FBR receives data of withholding taxes from banks

People asked to disclose undeclared bank accounts under amnesty scheme by June 30 ISLAMABAD: The Federal Board of Revenue (FBR) has received details of all...

Trump tariffs could sink Mexican peso to lowest point this year: analysts

Jesus Lopez, an analyst at the Banco Base, said it is difficult to envision a sustained appreciation of the currency because the country’s credit profile may continue to weaken.

FBR seeks info of account holders having deposits above Rs0.5m

The Federal Board of Revenue (FBR) has acquired from the State Bank of Pakistan (SBP) information about bank account holders having deposits above Rs0.5...

Credit Suisse CEO dismisses European bank mergers as ‘solution’

ZURICH: Mergers are not the best way to help Europe’s banks deal with negative interest rates, Credit Suisse Chief Executive Tidjane Thiam said in...

Saudi Arabia’s central bank warns global slowdown may hit growth

ABU DHABI: Saudi Arabia’s economy is expected to pick up in 2019 but a global economic slowdown and its potential impact on the global...

China central bank urges calm after Baoshang takeover

SHANGHAI: China’s central bank sought to calm investors on Sunday after last month’s takeover of Inner Mongolia-based Baoshang Bank, saying regulators are not planning...

‘WB committed to strengthening Pakistan’s human capital, regional connectivity’

WASHINGTON: The World Bank is committing $465 million through two projects to support higher education in Pakistan and expand sustainable electricity trade between Central and...

Banks assure complete cooperation to FBR 

The chief finance officers (CFOs) of all commercial banks have assured complete cooperation to the Federal Board of Revenue chairman. All the chief financial officers...

BOP posts Rs3.57bn profit before tax

LAHORE: A meeting of The Bank of Punjab Board of Directors was held recently to consider and approve the unaudited financial statements for the...

Debt servicing a biggest challenge on expenditures front in upcoming budget

The disbursement of foreign loans has so far remained slow during the current fiscal year, but the reliance on foreign debts is on the rise owing to external account gap.

Rupee regains Rs1.42 interbank, nabs dollar hike

The local currency strengthens on the back of higher inflow of remittance due to Ramadan and the approaching festival of Eid

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FBR issues notices to 3,950 non-filers in Lahore

LAHORE: The Federal Board of Revenue's Broadening of Tax Base (BTB)-Lahore has issued notices to some 3,950 people who did not declare their assets despite...

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Intel launches first artificial intelligence chip Springhill

JERUSALEM: Intel Corp on Tuesday launched its latest processor that will be its first using artificial intelligence (AI) and is designed for large computing...