Business & Economy

KARACHI, Apr 07 (APP):The State Bank of Pakistan on Thursday announced to increase its policy rate (interest) by 250 basis points to 12.25 percent, from 10 percent, for next two months.   SBP’s Monetary Policy Committee, in its meeting here at State Bank’s headquarters,  decided […]

London, April 7 (AFP/APP): British energy giant Shell warned Thursday that it would take a hit of up to $5 billion (4.6 billion euros) on its exit from Russia, following Moscow’s invasion of Ukraine. Impairment from assets and additional charges relating to Russia activities were […]

MANILA, April 7 (Xinhua/APP): The unemployment rate remained at 6.4 percent in February despite easing of pandemic restrictions, the Philippine Statistics Authority (PSA) said Thursday. In a virtual press conference, PSA head Dennis Mapa said the labor force participation rate increased from 60.5 percent in […]

ISLAMABAD, Apr 7 (APP): Pakistan Furniture Council (PFC), in collaboration with Chenone will participate in another 3-day “EMITEX” expo, which would be held in Buenos, Aires, Argentina to showcase Pakistani products and identify new global markets besides luring foreign investments. Chief Executive Officer PFC , […]

COLOMBO, April 7 (Xinhua/APP): Sri Lankan President Gotabaya Rajapaksa has appointed an advisory group on debt sustainability composed of economic and financial experts, the president’s media division said on Wednesday night. The members of the advisory group include Indrajit Coomaraswamy, former governor of the central […]

SEOUL, April 6 (Xinhua/APP) –: The South Korean government of President Moon Jae-in on Wednesday approved reserve fund for President-elect Yoon Suk-yeol’s plan to relocate the presidential office. The spending of 36 billion won (30 million U.S. dollars) in reserve fund was approved in an […]

BEIJING, April 6 (Xinhua/APP): China’s gross ocean product rose 8.3 percent to over 9 trillion yuan (about 1.41 trillion U.S. dollars) in 2021, official data showed. The figure contributed 8 percent of the country’s gross domestic product expansion, according to the Ministry of Natural Resources. […]

BEIJING, April 6 (Xinhua/APP): The overnight Shanghai Interbank Offered Rate (Shibor), which measures the borrowing cost of China’s interbank market, increased 54 basis points to 1.848 percent Wednesday. The seven-day rate raised 16.7 basis points to 2.004 percent, the one-month rate edged down 0.1 basis […]

ISLAMABAD, Apr 5 (APP):After a strong economic rebound in fiscal year (FY) 2021, Pakistan’s economic growth is expected to moderate to 4% in FY2022 due to tighter fiscal and monetary policies before picking up again in FY2023, the Asian Development Bank (ADB) said in a […]

KARACHI, Apr 05 (APP): President, Federation of Pakistan Chambers of Commerce and Industry, Irfan Iqbal Sheikh and other office bearers on Tuesday called for immediate settlement of political issues as it has led to economic instability in the country, which may bring very bad effects […]