State bank raised Interest rates by 300bps to 20%, highest since October 1996
The government of Pakistan today has jacked up the key policy rates by 300bps to 20% for executing the IMF condition for the release of...
Business
A News Hub for bringing you the latest business updates from economic and financial sectors from Pakistan and across the globe.
Adani Group cancelled IPO after losing more than $107 billion
India’s Adani conglomerate market losses have exceeded to over $100 billion on Thursday, which have snowballed since New York’s Hindenburg Research (a short-seller’s firm) published...
Pakistan to convince IMF over implementation of ‘tax’ measures and reducing subsidies
The International Monetary Fund (IMF) on Tuesday demanded Pakistan to withdraw untargeted subsidies, reduce circular debt, meet petroleum levy and Federal Board of Revenue (FBR)...
Bangladesh secured $4.7 billion from IMF while Pakistan to conclude 9th IMF review
Bangladeshi Prime Minister Sheikh Hasina ahead of a general election has successfully blessed with loans of $4.7 billion for disbursal starting immediately, making it the...
Gautam Adani conglomerate lost $51 billion dollars in a day after fraud allegations
Gautam Adani – have lost a combined $51 billion in market capitalisation since Wednesday, with US bonds of Adani firms also falling after Hindenburg Research...
Pak rupee closing at Rs262.6 per dollar, down Rs7.17
Pakistani rupee continued to depreciate steeply in the interbank market on Friday, closing at Rs262.6 per dollar, down Rs7.17 or 2.73 per cent from yesterday’s...
import restrictions flames steel prices to 243,500 rupees per tonne
The letters of credit (LCs) amid fear of industry closure, the manufacturers have pushed up the price of steel bars to an all-time high of...
IMF – Pakistan deadlock and polictical uncertainity cost Stocks Exchange 1378 points
The Pakistan Stock Exchange (PSX) slumped over 3.4%, approximately 1,348 points, and hit a two-year low at around 38,900 points on Tuesday.After the close of trading, the...
Pakistan reaffirms commitment to IMF program after Geneva meeting
GENEVA Pakistan reiterated its commitment to completing a program with the International Monetary Fund in a meeting on the sidelines of a climate conference in Geneva on Monday, the finance ministry said in a statement. Finance Minister Muhammad Ishaq Dar and IMF officials “ discussed challenges to regional economies in...
IMF forecasts 2023 tougher for global economy than 2022
IMF warns a quarter of the world will face recession in 2023 United States,European Union and China will have slowed economic activities in 2023 A...