Pakistan News

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  • SBP to get shares of agri bank, HBFC

    ISLAMABAD: The federal cabinet on Wednesday allowed the State Bank of Pakistan (SBP) to receive shares of Zarai Taraqiati Bank Ltd (ZTBL) and House Building Finance Corporation Ltd (HBFCL) in settlement of loans outstanding against these two organisations...

    The cabinet, which met under Prime Minister Shahid Khaqan Abbasi, also approved a proposal for issuance of 50,000 pieces of commemorative coins of Rs50 in honour of Dr Ruth Pfau,...

  • Private sector borrowing dips despite interest rate fall

    KARACHI: The falling interest rates for the last six months have failed to mobilise the private sector to seek bank credit, but the country’s economic managers are happy over reduced cost of government borrowings...

    A report of the State Bank of Pakistan showed that the private sector borrowings fell 37 per cent to Rs195 billion during the first 10 months of this fiscal year compared to the same period last year...

  • Interest rate slashed to 42-year low of 7pc

    ISLAMABAD: The State Bank of Pakistan has reduced the interest rate to a 42-year low of seven per cent in order to spur economic activities...

    Announcing the monetary policy at a press conference here on Saturday, SBP Governor Ashraf Mahmood Wathra said the policy rate had been cut by 100 basis points to boost investment in the country...

  • Deutsche Bank to pay $2.5bn for interest rate violations

    5 billion in a settlement with US and British authorities over the manipulation of benchmark interest rates used globally for its own financial gain...

    “Deutsche Bank employees engaged in a widespread effort to manipulate benchmark interest rates for financial gain,” Department Superintendent Ben Lawsky said...

  • SBP maintains interest rate at 5.75pc

    The State Bank of Pakistan (SBP) has decided to maintain the interest rate at 5...

    It said that increased economic activity, considerable increase in bank deposits and low interest rates translated into private sector credit flows in FY17, reaching a decade high of Rs748bn as compared with Rs446bn in FY16...

  • SBP maintains key interest rate

    KARACHI: The State Bank of Pakistan (SBP) kept the policy rate unchanged at 5...

    “Increased economic activity, considerable increase in bank deposits and low interest rates translated into private-sector credit flows in 2016-17, reaching a decade-high of Rs748bn against Rs446bn in 2015-16,” he said...

  • US Fed keeps key interest rate unchanged amid low inflation

    WASHINGTON: The Federal Reserve is keeping its benchmark interest rate unchanged at a time of low inflation, which remains persistently below the Fed’s target level...

    The Fed noted on Wednesday in a statement that inflation has stayed undesirably low even though the job market keeps strengthening, with the unemployment rate just 4...

  • Fed leaves key interest rate unchanged

    The Federal Reserve left its influential interest rate unchanged at the conclusion of its two-day meeting in Washington last Wednesday, citing a recent slowdown in growth that it said was likely ‘transitory...

    ’ It added that the Fed expects the economy to evolve in a manner that will warrant gradual increases in its interest rate, the same language it has used in previous months...

  • Interest rate unchanged at 6pc

    KARACHI: The State Bank of Pakistan left the key lending rate unchanged at 6 per cent as “headline inflation is expected to reverse its declining momentum”, the central bank said in its bimonthly monetary policy statement issued on Saturday...

  • Interest rate and forex outlook

    In FY17, interest rates may rise on growing demand for private sector credit and also because banks may try to make up for high tax incidence through more interest income...

    Post-budget research notes of leading brokerage houses have pointed out that non-acceptance of banks’ demand to bring their tax rate at par with other industries and end super-tax could erode banks’ profits by 2...

  • Australia mulls more interest rate cuts

    SYDNEY: Further interest rates cuts remain “on the table”, Australia’s central bank chief said Wednesday, as new official data showed that Australian consumer prices rose 0...

    Reserve Bank of Australia governor Glenn Stevens said weak economic growth had seen the cash rate decline to “very low levels”...

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