Chinese embassy rebuts WSJ report, says it deviates from facts
According to data released by the Pakistani government, 42% of foreign debt of Pakistan is from multilateral financial institutions, 18% of the debt is from Paris Club. Chinese preferential loans only account for only 10% of whole foreign debt and offer a much lower rate than commercial bank loans, said a statement by the Chinese embassy
Dollar swirls higher in open market
The 20 percent appreciation of the dollar has made Hajj expensive for Pakistani’s. The commercial banks or the State Bank of Pakistan (SBP) aren’t bound to ensure provision of dollars to people leaving for Hajj, so they buy US dollars and Saudi Riyals from the open market.
Has CPEC hit a major roadblock?
China’s infrastructure building spree across the nation seems to have been halted due to Pakistan’s inability to pay its loans
Market Daily: KSE-100 plunges 758 points pre-election
KSE-100 index continued to slide, as was the case on Friday. The bears dragged down the market by 758 points to 40,464 level (down 1.84 per cent) as pre-election jitters engulfed the market.
Currency crisis tops agenda for whoever wins Pakistan election
The IMF applied the kid-glove treatment to Pakistan in 2013 and allowed it to skip many painful reforms. But analysts say Islamabad is unlikely to get such leniency again after falling out with the United States, a key voice at the IMF
Vopak acquires 29 percent stake in ETPL for $38 million
Elengy Terminal Pakistan Limited (ETPL) was incorporated in 2012 and is based in Karachi and it operates as a subsidiary of Engro Corporation Limited.
PIA turnaround? Not happening, bro
The new CEO is well-credentialed and well-meaning, but can he alone overcome the national carrier’s myriad challenges?
The return of Husain Lawai’s legal troubles
One of Pakistan’s leading bankers, Lawai’s career continues to be dogged by allegations of money laundering and illegal activities
Media Wars
Traditional news organisations are caught between many a devil and a deep blue sea: Fake news, social media, ever falling revenues combined making it an uphill task to keep their heads above water
Manifestos of major political parties lack immediate solution to economic issues
ISLAMABAD: Though the political parties realise the grave economic situation of the country, they have not shared their strategy of dealing with the...
SBP raises key interest rate by 100 basis points to 7.5 percent
This is the third rise in the key interest rate since the start of 2018, indicating an increase in inflationary pressure and the current account deficit which is weakening the country’s economy
Dollar-denominated bond investors seek govt permission to trade them at PSX
Security Exchange Commission of Pakistan (SECP) permission is necessary for listing the bonds at the stock exchange
Pak-China fibre optic cable set for opening today
The projects total cost is projected at $44 million and 85 percent of the loan has been provided by Exim Bank of China at a discounted rate
Fed asks United Bank to strengthen anti-money laundering policies
No civil penalty has been imposed on UBL, read the stock market notification
SBP tightens access to foreign exchange as dollar reserves drop
Pakistan’s central bank has increased the amount of red tape needed to access dollars