ADB, UNDP renew pact to accelerate progress towards sustainable development
WASHINGTON:Â The Asian Development Bank (ADB) and the United Nations Development Programme (UNDP) signed a five-year memorandum of understanding (MOU) to accelerate progress...
China banks post profits but warn of instability
BEIJING: Chinese banks have posted profits for 2018 but warned that domestic and global uncertainties could put downward pressure on the sector...
Central bank raises interest rate to 10.75%
The State Bank of Pakistan (SBP) on Friday increased the policy rate by 50 basis points, raising it to 10.75 per cent.
A...
FBR rejects revising tax rates for non-filers withdrawing cash over Rs 50,000
ISLAMABAD:Â The Federal Board of Revenue (FBR) on Friday refuted reports regarding revising the tax rates for non-filers withdrawing cash worth over Rs...
Dominique Russo appointed CEO of Abu Dhabi Group
The Abu Dhabi Group, which owns and operates Bank Alfalah, has introduced Dominique L Russo as its new chief executive officer.
According to...
SBP report stresses investments in human capital, technology
'Monetary tightening along with exchange rate adjustments, reduction in development expenditures of federal govt and regulatory measures helped contain domestic demand'
KARACHI:Â The...
SBP issues concessionary financing facility for special persons
KARACHI:Â The State Bank of Pakistan (SBP) has issued a concessionary small enterprise financing and credit guarantee facility for special persons.
SBP Governor Tariq...
Deutsche Bank and Commerzbank go public on merger talks
FRANKFURT: Deutsche Bank and Commerzbank confirmed on Sunday they were in talks about a merger, although both warned that a deal was...
NBP president resolves to increase bank’s share price from Rs41 to Rs100
Arif Usmani, the newly-appointed President of the National Bank of Pakistan, has expressed his resolve to increase the bank's share price from...
Careem brought with it a boom in auto lending for the banks. Then came the interest rate hikes
Muhammad Irfan started his rental car business in 2015 with just one used car. Then came Careem and Uber and the boom...
Govt approves new NBP board
The federal cabinet has approved the appointment of Board of Directors of the National Bank of Pakistan from Khyber Pakhtunkhwa and Balochistan....
Iran merging military-linked banks to stabilise sector
DUBAI: Iran is merging four military-linked banks and another financial institution with the country’s oldest bank to boost efficiency and help stabilize the...
SBP reserves dip 0.08pc, stand at 8.04bn
The foreign exchange reserves held by the State Bank of Pakistan decreased 0.08pc ($6 million) on February 22, according to the data...
Registered Afghans can open bank accounts in Pakistan: SBP
Afghan refugees holding a valid Proof of Registration (PoR) card are allowed to open bank accounts in Pakistan, said the State Bank...
Standard Chartered posts highest-ever profit of Rs18.5bn
KARACHI:Â Standard Chartered Bank (Pakistan) Limited on Wednesday announced its annual results for 2018.
The bank performed exceptionally well in the year and delivered...