World Bank leadership search likely to end with US candidate

The search for a new leader for one of the most high-profile global organizations begins Thursday and seems likely to end again with selection...

SBP to announce bi-monthly new monetary policy tomorrow

The bank had hiked policy rate by 150 basis points to 10pc in November last year  The State Bank of Pakistan (SBP) would announce its...

Govt voices opposition against plan to increase interest rate

As per the Monetary and Fiscal Policies Coordination Board, there was still room for fiscal consolidation after budget deficit soared to 2.8% of gross domestic product (GDP) in the first half of FY18-19, far over the limit required to achieve the target of 5.1% of GDP

SBP launches M-Wallet scheme to promote home remittances

'Remittance can now be received directly in M-wallets and there is no requirement to visit a bank branch, fill forms or stand in long queues'ISLAMABAD:...

UBL’s New York branch surrenders license, concludes voluntary liquidation

In November, UBL had announced it would voluntarily liquidate and surrender its banking license in New York as per the applicable rules and regulations

Pakistan Banao Certificate targeting overseas Pakistani’s to be launched on 31st January

According to details shared by the Finance Minister Asad Umar, the certificates would be of two types, one of three years offering 6.25% return and the other with five-year maturity offering 6.75% return

Pakistan receives final instalment of $1 billion from Saudi Arabia

A statement from the Prime Minister’s Office in October last year said Saudi Arabia had agreed to deposit $3 billion for a period of one year as a balance of payment support

SBP introduces framework to counter trade-based money laundering and terrorist financing

The central bank also told banks to enhance the oversight role of the board of directors and senior management in the areas of ML/TF/PF risks associated with trade transactions

Mobile broadband fosters digital financial services

Mobile account ownership in Pakistan has witnessed a reasonable increase and crossed the 39 million mark, which was 15 million at the end of...

Chinese banks’ forex settlement deficit narrows in Dec

BEIJING: China's commercial banks reported a drop in their forex settlement deficit in December, official data showed.Forex purchases by banks stood at 1.14 trillion yuan...

‘Pakistan to achieve target of record exports this year’

PM's adviser says despite unfavourable circumstances, the economy is moving on the right track, with current account deficit still being a challengePakistan will...

KP govt committed to facilitating oil and gas explorers

PESHAWAR: Khyber Pakhtunkhwa (KP) Chief Minister Mahmood Khan on Saturday assured all-out support to address the issues of Khyber Pakhtunkhwa Oil and Gas Company Limited...

ABAD lauds resumption of high-rise constructions in Karachi

SC had lifted its ban on high-rise construction on 11th Dec 2018; however, Sindh govt took more than one month to direct SBCA...

Pace of credit growth in Pakistan’s banking sector to slow, NPLs to rise: Fitch Solutions

Its projected loan growth at 13% in 2018, down from a forecast 15% in 2018, said the research agency

HBL’s Muhammad Aurangzeb becomes Pakistan Banks’ Association chairman

Habib Bank Limited President and CEO Muhammad Aurangzeb has been unanimously elected as the Pakistan Banks’ Association (PBA) chairman, following the completion of Aftab...

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Air France mulls returning to Pakistan after 11 years: minister

Petroleum Minister Ghulam Sarwar Khan revealed on Friday that after witnessing a conducive business environment, Air France was planning to resume its service in...

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Samsung announces folding phone with 5G at nearly $2,000

All of the Galaxy series of rigid phones except the 5G will be available from March 8, with the S10+ priced from $1,000, the S10 priced from $900 and the smaller S10e from $750.