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ISLAMABAD: Pakistan and the Asian Development Bank (ADB) on Tuesday signed two loan agreements worth $435 million aimed at supporting the country’s efforts to build modern transport infrastructure and create an environment for participation of the private sector in infrastructure schemes. The signing of the loan documents would remove irritants in completing other procedural formalities for […]

KARACHI: The asset base of the banking sector expanded 8.3 per cent in the second quarter of 2017, which is the highest growth rate recorded in corresponding quarters since 2008. However, banks’ profitability declined in the first half of 2017, according to the quarterly performance review of the banking sector issued by the State Bank […]

KARACHI: The rupee remained stable against the dollar at 105.4/105.6 in the inter-bank market on Friday compared to Thursday’s close of 105.4/105.6. The currency market has fluctuated regularly in recent months with hefty rises and falls on some occasions. In the long run, however, the rupee has stood firm after experiencing extensive volatility, when it weakened […]

Over the past two and a half decades, bank loans to creditworthy private businesses and individuals as a ratio of GDP have been shrinking. This has prompted two central bank researchers to revaluate the worth of both financial market reforms as well as state-directed bank lending in the light of private ownership of the banking […]

ISLAMABAD – Pakistan’s total tax revenue witnessed gradual increase from 10.6 percent of Grand Domestic Product (GDP) in 2000 to 12.6 percent of GDP in 2016. According to a report released by Asian Development Bank (ADB), Pakistan’s tax revenue in 2005 was 10.1 percent during 2010, while it declined to 9.8 percent in 2013; however, […]

KARACHI: Remittances sent by overseas Pakistani workers increased 13.2 per cent in the first two months of 2017-18, the State Bank of Pakistan (SBP) reported on Tuesday. Inflows from all major sources rose in July-August, indicating that the trend of negative growth witnessed in 2016-17 has reversed. The country received $3.49 billion in the period […]

Pakistan Stock Exchange (PSX) closed higher on Tuesday, with the benchmark KSE-100 index gaining 152 points, or 0.37 per cent, to close at 41,279 points. The index hit a high of 41,411 points but fell mid-session to touch the day’s low of 41,025 points, only to recover towards the end. 99.68 million stocks worth Rs5.41 […]

KARACHI: Five former senior officials of National Bank of Pakistan (NBP) and two corporate chiefs are in the crosshairs of the National Accountability Bureau (NAB) for allegedly engaging in a fraud to the tune of Rs10.4 billion. The accused include Azgard Nine Ltd CEO Abid Humayun Shaikh and CFO Abid Amin. The company is a […]

Pakistan Stock Exchange (PSX) slipped on Monday, with the benchmark KSE-100 index losing 274 points, or 0.66 per cent, to close at 41,127. The index opened higher on Monday and hit the day’s high of 41,552 but then began to lose points, touching the day’s low of 41,062 points towards the close of the trading […]

ISLAMABAD – The Asian Infrastructure Investment Bank (AIIB) Monday expressed willingness to finance some projects presented to the bank by Pakistan. “The projects presented by Pakistan for future financing include a number of very important projects and the bank would like to finance some of them based on further discussion with the relevant officials,” said […]