KARACHI: The State Bank of Pakistan (SBP) has received $2.75 billion in Special Drawing Rights (SDRs) from the International Monetary Fund (IMF), bringing the central bank’s foreign exchange holdings to an all-time high of $20.14 billion. The central bank’s foreign currency reserves on August 27 were $20,145.6 million, according toRead More →
The Taliban’s quick conquest of Afghanistan presents a new problem for large American internet companies in terms of dealing with information generated by a group that is designated a terrorist organisation by several countries across the world. Facebook announced on Monday that it has designated the Taliban as a terroristRead More →
KARACHI: According to Channel News, the Sindh government has decided to impose an emergency lockdown till August 8 as the province continues to face a worrisome increase of COVID-19 infections. It will take effect the next day (Saturday). This was agreed during a coronavirus task force meeting on Friday, whichRead More →
ISLAMABAD: Dr. Ishrat Hussain, the Prime Minister’s Adviser on Institutional Reforms and Austerity, has resigned, according to reports. The resignation letter was sent to Prime Minister Imran Khan’s office. The prime, on the other hand, has not yet authorised Dr Hussain’s resignation. Since the PTI established government in 2018, DrRead More →
The State Bank of Pakistan has chosen to keep the policy rate at 7% for the next two months, according to Dr Reza Baqir, the central bank’s governor. “The Monetary Policy Committee (MPC) agreed to keep the policy rate at 7% at its meeting on July 27, 2021,” the SBPRead More →
(AFP) – JERUSALEM (AFP) – On Sunday, Israel’s environmental protection ministry said that it will postpone the execution of a proposed oil transport agreement with the United Arab Emirates, thereby halting a project that has enraged environmentalists. Following the establishment of diplomatic links between the UAE and Israel last year,Read More →
Xiaomi Corp, a Chinese smartphone company, surpassed Apple Inc to become the world’s No. 2 smartphone producer in the second quarter, according to Canalys, a market research firm. According to the research organisation, Xiaomi moved into second place for the first time, with a 17 percent share of global smartphoneRead More →
KARACHI: Pakistan’s remittances from abroad grew at a nearly two-decade high pace in the previous fiscal year of 2020-21, providing significant assistance to the external sector, according to statistics released by the central bank on Tuesday. “Despite the tough global economic conditions in the previous year, these [remittances] helped strengthenRead More →
According to British media, tens of thousands of tickets for England’s Euro 2020 football final are being sold on the black market at record prices.As the Euro 202 final approaches, English and Italian supporters are racing to black markets for tickets after England won the semi-final match against Denmark onRead More →
KARACHI: The rupee dropped to a five-month low against the US dollar on Thursday, under pressure from import payments. Forex brokers, according to a storey in The News, predict the local currency to lose additional ground in the coming days. The rupee closed at 159.33 per dollar on the interbankRead More →
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