KARACHI: The State Bank of Pakistan has partnered with the International Finance Corporation (IFC), the private sector arm of the World Bank Group, to expand local currency financing and support private sector growth in Pakistan. The agreement, signed under the International Swaps and Derivatives Association (ISDA) framework, will enable the International Finance Corporation (IFC) to manage currency risks more effectively …
ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb concluded his visit to Washington, DC, with a series of important meetings on the final day of his participation in the Annual Meetings of the International Monetary Fund (IMF) and the World Bank. The minister met with the senior management of Abu Dhabi Commercial Bank (ADCB) and briefed them on …
ISLAMABAD: Finance Minister Muhammad Aurangzeb has left for the United States to participate in the annual meetings of the International Monetary Fund (IMF) and the World Bank (WB), state-run Radio Pakistan reported on Saturday. The visit comes after a IMF mission concluded talks with Pakistani authorities on reviews of two lending programmes totalling $8.4 billion without announcing a staff-level agreement …
ISLAMABAD: Finance Minister Muhammad Aurangzeb on Friday said that Pakistan’s recent engagement with the International Monetary Fund (IMF) was “constructive”, adding that there appeared to be no “showstoppers” so far. An IMF mission led by Iva Petrova met with Pakistan’s economic team in Karachi and Islamabad from September 24 to October 8 to review the implementation of the $7 billion …
KARACHI: Sindh Chief Minister Murad Ali Shah welcomed a high-level Saudi business delegation on Thursday and highlighted 12 priority sectors for investment in the province. The high-level business delegation from Saudi Arabia, led by Saudi-Pakistan Joint Business Council Chairman Prince Mansour bin Mohammad Al Saud, arrived in Pakistan on Tuesday to discuss trade, investment and collaboration. The development followed Pakistan …
KARACHI: The State Bank of Pakistan (SBP) said on Thursday that overseas workers’ remittances witnessed an increase of 8.41 per cent during the first quarter (July-September) of fiscal year 2025-26. The central bank said an inflow of $9.536 billion was recorded during July-September 2025 as compared to $8.796bn during the same period last year. On a year-on-year basis, the SBP …
KARACHI: Pakistan has repaid its $500 million Eurobond on schedule, with the government saying the timely servicing reflects fiscal discipline, stronger reserves, improved ratings, and a more sustainable debt profile. The bond, meant to raise funds from global investors, was issued in 2015 with a 10-year tenor and matured on September 30 this year. Taking to the X platform, Adviser …
KARACHI: Pakistan Stock Exchange (PSX) achieved another milestone on Tuesday, crossing 166,000 points for the first time in history. The benchmark KSE-100 index surged to an intraday peak of 166,556.29, marking a gain of 2,708.61 points or 1.65 per cent, while its lowest level of the day was 164,208.33, up 360.65 points or 0.22pc from the previous day’s close. The …
ISLAMABAD: Consumer price inflation slowed to three per cent year-on-year in August from 4.1pc in July, data from the Pakistan Bureau of Statistics (PBS) showed on Monday, though economists warned that weeks of flooding in Punjab could put food prices under renewed pressure . According to the data, Consumer Price Index-based inflation during the same month of last year (August …
BY GLOBAL TIMESBEIJING: “Before coming here, I assumed Sanya was only about sunshine and beaches,” remarked Russian tourist Andrei. After spending a few days by the sea, his family headed to downtown Sanya, south China’s Hainan province, for some shopping. Inside a mall, a poster advertising duty-free shopping for offshore passengers caught his eye. “Offshore duty-free shopping applies mainly to …