Wednesday, January 20, 2021

SBP

Rich should be targeted to improve revenue: Mian Zahid 

President Pakistan Businessmen and Intellectuals Forum (PBIF), President All Karachi Industrial Alliance (AKIA), Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister, Mian Zahid Hussain on Monday said the sale of bleeding state-run enterprises alone...

State Bank renews status of VIS and PACRA as eligible external credit assessment institutions 

State Bank of Pakistan has renewed the status of both credit rating agencies operating in Pakistan namely “VIS Credit Rating Company Limited (VIS)” and “The Pakistan Credit Rating Agency Limited (PACRA)” as eligible / recognized External Credit Assessment Institutions...

Key Takeaways from Monetary Policy Statement

SBP increased the policy rate by 150bps to 12.25% from 10.75% in the MPS announced on Monday. 1.     Higher recent MoM core and head line inflation, 2.      Recent Exchange Rate Depreciation, 3.      Elevated fiscal deficit and increased monetization and, 4.      Potential adjustments in utility (gas and electricity)...

Pakistan: MPS announced, policy rate up by 150 bps to 12.25 percent

State Bank of Pakistan on Monday announced the Monetary Policy Statement, policy rate by 150 bps to 12.25 percent. SBP said there have been three notable developments since the last Monetary Policy Committee (MPC) meeting in March 2019. First, the...

Pakistan: Rate hike of 100bps likely in MPS

Analysts forecasts another rate hike of 100bps in policy rate from 10.75% to 11.75% in the upcoming monetary policy which is to be announced on May 20. The aggressive monetary tightening is expected to continue by the central bank as...

Major decline witnessed in Rupee against USD, Bostan slams critics on Rupee rumors

The Pakistani rupee shed Rs2.0 against the US Dollar in the open market on Saturday, which closed at Rs144. Rupee has shed Rs3.0 against the greenback in this week. Economists expressed concerns over the continuous depreciation in rupee value saying...

Pakistan: Worker remittances up by 6% YoY during April

Overseas Pakistani workers remitted US $17,875.23 million in the first ten months (July to April) of FY19, showing a growth of 8.45% compared with US $16,481.82 million received during the same period in the preceding year. Overseas Pakistanis remit US...

SBP reserves up by $ 179 million to $ 8.98 billion

The total liquid foreign reserves held by the country stood at US$15,972.6 million on May 03. Foreign reserves held by the State Bank of Pakistan increased by $ 179 million to $ 8,984.1 million. Net foreign reserves held by commercial...

International training programs on central and commercial banking concludes in Islamabad

The 49th iteration of International Central Banking Course and 46th iteration of International Commercial banking course concluded on April 12, 2019 wherein 43 delegates of 15 countries participated. These include Algeria, Afghanistan, Cambodia, Ethiopia, Egypt, Gambia, Jordon, Sri Lanka, Maldives,...

Pakistan’s Foreign Reserves decline by $ 220 million to $ 17.22 billion

The total liquid foreign reserves held by the country stood at US$17,228.3 million on April 05. The break-up of the foreign reserves position. Foreign reserves held by the State Bank of Pakistan $ 10,271.9 million. Net foreign reserves held by commercial...
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Trump using presidential pardon to save potential allies

The renowned newspaper, USA Today, saw that President Donald Trump is using his power to save allies from legal...
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Biden’s inauguration ceremony: Security on high alert in the American capital

The American capital has been in a state of security alert and tightening precautionary measures, with the approaching hour of the officially elected president...

Azerbaijan to start vaccinating citizens from next Monday

The doses of the Chinese anti-corona virus vaccine will be transported first to Turkey, where they will be examined and packed, before arriving in...

As You Likee: Express more, Create more with Likee’s In-App Features

The online short videos platform is rapidly becoming the content production application of choice for hundreds of thousands of Pakistanis to showcase their creativity,...

Adam Schiff: Donald Trump must be removed

Adam Schiff, Chairman of the Intelligence Committee in the US House of Representatives, affirmed that they continue to defend the democracy of the United...