Italy, Pakistan have a potential of €4b in bilateral trade By: Agencies on August 15, 2022Ambassador of Italy to Pakistan Andreas Ferrarese has said that Italy and Pakistan have a potential of €4b bilateral trade and it’s perfectly doable with collective efforts of both governments and private sectors collaboration. Talking to the APP, Ambassador said this year trade has exponentially grown and can reach around €2b and in 2021 it […]
SBP officially reveals new Rs75 commemorative note By: Agencies on August 15, 2022The State Bank of Pakistan has introduced the Rs75 commemorative banknotes in recognition of the nation’s diamond jubilee as Pakistan celebrates its 75th year of independence. The unique note was first announced by the central bank earlier today on Twitter, along with the statement, “The note will be available for public issue starting September 30, […]
SBP injects Rs743b into banking sector By: Our Correspondent on August 15, 2022In an effort to encourage financial institutions to offer steady funding to the government, Pakistan’s central bank has infused over Rs743b into commercial and Shariah-compliant banks for up to 63 days at a return of 15.11pc. Commercial banks’ borrowing from the central bank, on the other hand, has been reduced drastically tobillions of rupees from […]
Gold prices may tumble as the Fed resists pivot bets and short covering slow By: Monitoring Desk on August 15, 2022Gold prices ended the week approximately 1.5pc higher after rallying on Friday as Treasury rates fell. Throughout the week, traders analysed inflation data via the consumer price index (CPI) and producer pricing index (PPI), with both gauges dropping from the previous month. Following the 8.5pc year-on-year CPI data, odds on a Fed rate rise fell, […]
BoP partners with MCL to construct one of the highest flag posts of Pakistan By: pr on August 15, 2022To celebrate the Diamond Jubilee Independence Day, the Bank of Punjab is proud to sponsor the construction of one of the highest flag posts, in any metropolitan city of Pakistan, at Centre Point, Lahore. The ground breaking ceremony was held on 14th August 2022. The ground breaking ceremony was performed jointly by Captain (R) Muhammad […]
HABIBMETRO Bank unveils monument at the iconic I.I. Chundrigar Road By: pr on August 15, 2022HABIBMETRO Bank – subsidiary of Habib Bank AG Zurich (HBZ) -unveiled a monument at the entrance of Pakistan’s financial street, the I.I. Chundrigar Road, on Independence Day. The monument, installed outside the HBZ Plaza, is an effort aimed at the beautification of the ‘City of Lights’. A flag hoisting ceremony was also held in the […]
Investors optimistic as bulls continue to dominate By: Our Correspondent on August 15, 2022IMF’s announcement of a Letter of Intent (LOI) helped spark a comeback on the Pakistan Stock Exchange last week, and the index ended the previous week with a gain of 761 points. As the week began, the market rose as investors applauded the favourable catalysts. The finance minister’s order to convene a conference to discuss […]
Need stressed to explore potential of halal food exports in global markets By: Agencies on August 15, 2022The corporate sector in the country must fully exploit the potential of vast scope of halal food exports in global markets as its current size $2 trillion is expected to touch the level of $3 trillion by next five year. Talking to a delegation of halal food exporters here on Sunday led by Shabir Ahmad, […]
Oil prices fell by 2pc on expectations By: Monitoring Desk on August 15, 2022On Friday, oil prices fell by 2pc on optimism that supply interruptions in the US Gulf of Mexico would be temporary, while economic worries cast doubt on the prospects for demand. However, futures were still expected to post a weekly gain. By 11:10 a.m., Brent oil futures had dropped $1.47, or 1.5pc, to $98.13 per […]
Proposed US corporate tax hike won’t save global minimum tax deal By: Agencies on August 15, 2022A corporate minimum tax in a congressional spending bill set for passage on Friday will not bring the United States into compliance with a separately negotiated 137-country deal for a global minimum tax. Although both taxes are the same rate – 15% – they are separate items that apply differently to companies. The US House […]