KARACHI: Reserves of the State Bank of Pakistan (SBP) decreased by $3.9bn between October and July 21 despite commercial borrowing of more than $4.4 billion in 2016-17. Currency experts said pressure is mounting on the exchange rate as reserves fall. Dealers in the interbank market said the dollar rate, after reversing from Rs108 to Rs105.40, […]

Bears dominated the Pakistan Stock Exchange (PSX) on Monday, with the benchmark KSE-100 index losing 412 points, or 0.88 per cent, to close at 46,466. The market hit its high point at 46,929 within the first half hour of trading, but continued to fall and marked 46,336 as the day’s low towards the close of […]

DEPOSITS and other accounts of all scheduled banks stood at Rs11,651.413 billion after a 0.86 per cent increase over the preceding week, according to the weekly statement of position of all scheduled banks for the week ended Aug 25. On a year-on-year basis, the figure was higher by 14.61pc. Deposits and other accounts of all […]

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 […]