Business News ,Pakistan Stock market, Economic News, Financial News

State Bank receives $1.2 billion from ADB under budget support fund

The State Bank of Pakistan (SBP) has received $1.2 billion from the Asian Development Bank (ADB) under the budget support fund.

December 10, 2019
Published in Business

Asian Development Bank, Pakistan sign loan agreement worth $1.3 billion

The government of Pakistan on Monday signed an agreement with the Asian Development Bank (ADB) worth $1.3 billion for budgetary support and reforms.

December 9, 2019
Published in Business

Strategy afoot to construct gas storage facilities, increase oil stock capacity

The government is working on a multi-pronged strategy to construct gas storage facilities, which the country lacks for smooth supply of the commodity, especially during peak winter and summer seasons.

December 8, 2019
Published in Business

ADB has showed a monthly increase of Rs21 billion in the Pakistan's debt per month

Contrary to Pakistan Tehreek-e-Insaf (PTI) government’s claim of reducing the flow of circular debt to Rs12 billion a month, the Asian Development Bank (ADB) has showed a monthly increase of Rs21 billion in the debt…

December 8, 2019
Published in Business

Export of oranges target of 300,000 metric tons

Pakistan sets oranges export target at 300,000 tons

Export of oranges from Pakistan has commenced as an export target of 300,000 metric tons has been set for the current season which is expected to generate valuable foreign exchange of $19.5 million.

December 8, 2019
Published in Business

Markets and Trade Areas Registration starts next week.

FBR initiates Markets & Trade Areas registration process

Shabbar Zaidi, chairman FBR made an announcement about the initiative for markets and trade areas registration.

December 7, 2019
Published in Business

$1.3 Billion approved in Pakistan support

ADB approved $1.3 Billion to support Pakistan budget

The Asian Development Bank (ADB) approved $1 billion in immediate budget support to Pakistan.

December 6, 2019
Published in Business

$431 million added to the Foreign Reserves of SBP

SBP Foreign Reserves are $431 Million up

The Foreign exchange reserve held by the State Bank of Pakistan increased by US$ 431 million to US$ 9,112.9 million.

December 6, 2019
Published in Business

Outlook changes from Negative to Stable of five banks.

Moody's: Pakistan's Outlook Changed from Negative to Stable

Moody’s Investors Service (“Moody’s”) has affirmed the B3 long-term local currency deposit ratings of five Pakistani banks and changed the outlook to stable from negative.

December 6, 2019
Published in Business

Wheat Exports reduces in first four months.

Wheat Exports reduces to 88.10%

Wheat exports during first four months of current financial year reduced by 88.10% as compared the wheat exports of the corresponding period of last year.

December 6, 2019
Published in Business

SBP released 308.8 billion in open market

State Bank of Pakistan (SBP) released 308.8 billion rupees into the money market for eight days for the purchase of the reverse repo through its open market operation.

December 6, 2019
Published in Business

Dr Abdul Hafeez Shaikh met a group of leading businessmen

Sales Tax Refund Progress Reviewed: Abdul Hafeez Sheikh

Abdul Hafeez Sheikh discussed and reviewed progress on the issues on the payment of the Sales Tax refunds to exporters.

December 6, 2019
Published in Business

Trump says Huawei is a security risk as NATO seeks secure 5G

U.S. President Donald Trump said on Wednesday that Chinese telecommunication firm Huawei was a security risk after NATO said it needed secure next-generation 5G technology.

December 4, 2019
Published in Business

Serious steps are to be taken in order to increase the olive production in the country

Significant steps towards increased olive production

Pakistan is planning towards increasing the olive production and to take over the Spain.

December 4, 2019
Published in Business