News
India’s forex reserves fall most in over a year on central bank’s rupee defence
17+ hour, 15+ min ago (240+ words) MUMBAI: India's foreign exchange reserves fell to $716.81 billion in the week through March 6 from $728.49 billion in the previous week, Reserve "Bank of India data showed on Friday. The $11.68 billion "decline in reserves last week came amid heavy dollar sales by…...
India proposes ‘economic stabilisation fund’ to tackle global headwinds
17+ hour, 11+ min ago (210+ words) NEW DELHI: India has proposed an "economic stabilisation fund" to provide fiscal "headroom for the country to respond to "global headwinds, Finance Minister Nirmala Sitharaman told parliament on Friday. The 573-billion-rupee ($6.20 billion) proposed fund will also help the "government to…...
ME conflict affecting economy, says business community leader
8+ hour, 7+ min ago (226+ words) He noted that the tragedy of ongoing hostilities, compounded by the blockade of the Strait of Hormuz, has not only jeopardised over twenty percent of global oil and gas exports but also forced a severe downgrade in Gulf Cooperation Council…...
Foreign loans - Editorials
8+ hour, 7+ min ago (628+ words) Foreign loans'Business Recorder EDITORIAL: The Senate Standing Committee on Economic Affairs warned the Economic Affairs Division (EAD) that inflated project costs, over-invoicing and poor planning are bleeding billions from the Treasury, and counseled the Division to discourage contracting new external…...
Wall St falls over 1% on Middle East tensions, private credit concerns
1+ day, 15+ hour ago (637+ words) Wall Street's major indexes fell over 1% on Thursday, with financial stocks taking a blow, as a surge in oil prices toward $100 a barrel rekindled inflation fears and investors kept a close watch on mounting jitters in the private credit sector....
Asia shares advance on hopes for oil stocks release, as chip giants lift Korea, Taiwan
3+ day, 1+ hour ago (509+ words) Asian shares extended their relief rally on Wednesday, with Taiwan and South Korea at the forefront, after a report the International Energy Agency has proposed the biggest-ever oil stock release to tame crude prices, amid the U.S.-Israel war on Iran....
Economic situation: Strong policy support essential for industrial sector: LCCI
4+ day, 5+ hour ago (267+ words) Economic situation: Strong policy support essential for industrial sector: LCCI'Business Recorder LAHORE: President of the Lahore Chamber of Commerce and Industry, Faheem ur Rehman Saigol, said that in the current economic situation, strong policy support is essential to help the…...
SBP holds policy rate at 10.50pc on oil risks
4+ day, 6+ hour ago (861+ words) KARACHI: While keeping the policy rate unchanged at 10.50 percent, the State Bank of Pakistan (SBP) has observed that Pakistan's macroeconomic outlook has become quite uncertain following the outbreak of war in the Middle East. The Monetary Policy Committee (MPC) of…...
SAI slams decision to keep policy rate unchanged
4+ day, 6+ hour ago (280+ words) KARACHI: President of the Site Association of Industry Abdul Rehman Fudda has voiced disappointment over the State Bank of Pakistan decision to keep the policy rate unchanged at 10.5 percent, warning that the move could further strain industrial activity and exports....
Egypt raises domestic fuel prices
4+ day, 1+ hour ago (48+ words) Egypt raises domestic fuel prices'Business Recorder Egypt raised prices on a wide range of fuel products on Tuesday, the petroleum ministry said, citing "exceptional conditions in global energy markets" linked to geopolitical developments in the Middle East. Hike in jet…...