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Inflationary pressure expected to calm down gradually: Finance Division
The Finance Division said on Tuesday that inflationary pressure in Pakistan is expected to calm down gradually following the flood-led damages that disrupted the supply of essential items.
In the Monthly Economic Update & Outlook…
Pakistan-IMF talks: Fund agrees on relief for poor through BISP, say officials
SLAMABAD: The International Monetary Fund (IMF) Tuesday agreed to Pakistan's request of providing relief via the Benazir Income Support Programme (BISP) to the poor segment of the society but insisted on “strict adherence” to financial…
PKR appreciates by Rs2.63 against greenback in interbank
KARACHI - After a lapse of several days the Pakistani rupee made a little come back on Tuesday, appreciating Rs2.63 against the US dollar in the interbank market.
The local currency was being traded at Rs263 against the dollar in the…
Bangladesh secures $4.7bn from IMF
The International Monetary Fund (IMF) has approved loans of $4.7 billion to Bangladesh for disbursal starting immediately, making it the first to secure such funds out of three South Asian countries that applied last year amid economic…
Rare relief as Nepra cuts power price by Rs2.31 per unit
ISLAMABAD – The National Electric Power Regulatory Authority (Nepra) on Tuesday reduced electricity price by Rs2.31 per unit on account of fuel cost adjustments (FCAs) for December 2022.
Nepra Chairman Tauseef H. Farooqui announced the…
IMF lifts 2023 growth forecast with boost from China reopening
WASHINGTON: Global growth is set to be higher than expected this year, the IMF said Monday, raising its forecast on surprisingly strong consumption and investment while China’s lifting of zero-Covid restrictions provides another boost.…
Samsung quarterly profits plunge to 8 year low on demand slump
SEOUL: Samsung Electronics said Tuesday that its fourth-quarter operating profits plunged nearly 70 percent, the biggest drop in more than eight years, as the global economic slowdown dealt a blow to electronics and chips sales.
The…
Japan eyes easing South Korea export controls as Seoul seeks to bolster ties
TOKYO: Japan is considering relaxing controls on exports to South Korea as President Yoon Suk-yeol seeks to improve ties amid a strained East Asian security environment, the Sankei newspaper reported on Saturday.
Japan will decide…
PBC urges authorities to augment IMF programme
The Pakistan Business Council (PBC) has welcomed the development regarding arrival of the International Monetary Fund (IMF) mission, while urging authorities to seek an “extension and augmentation” of the bailout programme.
Taking to…
Rupee continues to tumble against dollar, falls over Rs7 in interbank market
The Pakistani rupee extended its downward trend on Friday with the local currency plunging Rs7.17, or 2.73%, against the US dollar in the interbank market as the government eased its control over the currency in order to convince the…