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Sunday 20, April 2014

 
 
 




 

Economy


ECNEC approves development projects worth Rs62bn

By: Web Desk, Uploaded: 18th April 2014

ECNEC approves development projects worth Rs62bn ISLAMABAD: The Executive Committee of the National Economic Council (ECNEC) on Friday approved different projects of social sector developments worth Rs. 62 billion. The Committee met here with Minister for Finance, Mohammad Ishaq Dar in the chair and approved the establishment and operation of basic education community schools in the country project with a rationalized...


SBP quarterly reports show improvement in economy

By: Web Desk, Uploaded: 17th April 2014

SBP quarterly reports show improvement in economy ISLAMABAD: Two quarterly reports of the State Bank on country’s economy presented in the Senate on Thursday have shown improvement in economic indicators and country on way to betterment. The government laid before the Senate two quarterly reports of the State Bank of Pakistan on the state of country’s economy and the Biannual Monitoring on...


Overall debt stands at 59.1pc of GDP; Senate told

By: Web Desk, Uploaded: 16th April 2014

Overall debt stands at 59.1pc of GDP; Senate told ISLAMABAD: The Senate was informed Wednesday that overall debt to GDP ratio in the country presently stands at 59.1% and the government will approach the parliament if it will be going to exceed the benchmark of 60%. Minister of State for Interior, Baleeghur Rehman told the House during Question Hour on behalf of the Finance...


World Bank VP assures Pakistan of support on economic, energy priorities

By: Web Desk, Uploaded: 11th April 2014

World Bank VP assures Pakistan of support on economic, energy priorities WASHINGTON: Finance Minister, Muhammad Ishaq Dar met with Philippe Le Houerou, Vice President SAR, World Bank, who assured him of the Bank’s cooperation in realizing Pakistan’s economic and energy priorities. Mr. Houerou began by appreciating the Pakistan Government’s efforts in putting economy back on track. He praised the resolve of the government towards solving the...


Pakistan, US reaffirm to expand bilateral trade

By: Web Desk, Uploaded: 10th April 2014

Pakistan, US reaffirm to expand bilateral trade ISLAMABAD: Pakistan and United States (US) Thursday reaffirmed commitment to expand bilateral trade and business links between the two countries. The reaffirmation was made during the meeting of the Working Group on Economy and Finance that met in Washing DC, according to press statement issued by Ministry of Finance here Thursday, adding the working group...


Investment by Chinese companies to boost Pakistan’s economy: PM

By: Web Desk, Uploaded: 10th April 2014

Investment by Chinese companies to boost Pakistan’s economy: PM BOAO, China: Prime Minister Muhammad Nawaz Sharif on Thursday said the investment by Chinese companies will give a boost to the economy of Pakistan. The Prime Minister expressed these views in a meeting with President, EXIM Bank of China Lui Ruogu here on the sidelines of Boao Asia Forum 2014. During the meeting, financing of...


Dollar under pressure in Asia after Fed minutes

By: Web Desk, Uploaded: 10th April 2014

Dollar under pressure in Asia after Fed minutes TOKYO- The dollar edged down against the yen on Asia on Thursday after minutes from the US Federal Reserve showed its policymakers are broadly against hiking interest rates too soon. The greenback bought 101.81 yen in Tokyo midday trade, compared with 101.97 yen in New York Wednesday. The euro fetched $1.3849 and 141.02 yen, against...


Pakistan sells $2bn 5, 10 years Eurobonds

By: Web Desk, Uploaded: 9th April 2014

Pakistan sells $2bn 5, 10 years Eurobonds ISLAMABAD: Pakistan on Wednesday sold $2 billion worth of five and 10 years bonds in its first international sale since 2007, Finance Ministry officials said. The cash-strapped South Asian nation marketed $1 billion of five-year notes at a yield of 7.25 percent and $1 billion of 10-year securities at 8.25 percent, said an official requesting...


Pakistan’s Investment Potential Highlighted in UAE: Javed Malik

By: Farhan Mushtaq, Uploaded: 9th April 2014

Pakistan’s Investment Potential Highlighted in UAE: Javed Malik DUBAI: Prime Minister’s Special Envoy for Investment, Ambassador Javed Malik said on Wednesday that countries would have to adopt innovative approaches to attract Foreign Direct investment (FDI) and new strategies are needed to effectively promote a country’s investment and trade potential globally. He was speaking on the first day of the Annual Investment Conference 2014...


Dollar claws back some losses against yen in Asia

By: Web Desk, Uploaded: 9th April 2014

Dollar claws back some losses against yen in Asia TOKYO- The dollar on Wednesday edged up against the yen after tumbling in New York trade after the head of the Bank of Japan poured cold water on hopes it will add to its stimulus programme in the near future. In Tokyo midday trade, the greenback bought 101.89 yen, up from 101.75 yen late in...


Asian shares mostly up, but yen sinks Tokyo

By: Web Desk, Uploaded: 9th April 2014

Asian shares mostly up, but yen sinks Tokyo HONG KONG- Asia’s markets mostly rose on Wednesday following a slight rebound on Wall Street but Tokyo took another hit as the yen rallied after the Bank of Japan said it would not extend its stimulus in the near future. Oil prices edged back a touch after surging on Tuesday on renewed fears about tensions...


Pakistan exports 1209.1mn ton oranges in six months

By: Web Desk, Uploaded: 8th April 2014

Pakistan exports 1209.1mn ton oranges in six months ISLAMABAD: Pakistan has exported 1209.1 million ton of oranges during first six months of current fiscal year which contributed millions of dollar to national kitty. Pakistan has more than 250 processing plants in production areas of citrus to keep the taste, aroma and enhance shelf life of citrus fruit where oranges can also be processed....


Yen gains in Asia after BoJ wraps up meeting

By: Web Desk, Uploaded: 8th April 2014

Yen gains in Asia after BoJ wraps up meeting TOKYO- The yen extended its gains in Asia Tuesday as the Bank of Japan stood pat on its monetary easing programme while it assesses the impact of a sales tax rise on the world’s third-largest economy. The dollar slipped to 102.90 yen in Tokyo midday trade from 103.09 yen in New York Monday, while the...


TDAP eyes $ 50 bln exports in next 2 or 3 years

By: Web Desk, Uploaded: 7th April 2014

TDAP eyes $ 50 bln exports in next 2 or 3 years Trade Development Authority (TDAP) is taking various practical measures to increase Pakistan’s exports to 50 billion dollars in next two or three years. Last year, the total exports of the country amounted dollars 24 billion. This year till date, Pakistan have made eight percent more exports against the last year’s total exports. This was informed...


Macro-economic indicators show sustainable growth: Dar

By: Web Desk, Uploaded: 7th April 2014

Macro-economic indicators show sustainable growth: Dar ISLAMABAD: Minister for Finance Ishaq Dar has said that the impressive macro-economic indicators, as monitored and assessed by international financial institutions, present a picture of sustainable growth and economic stability in Pakistan. The International Monetary Fund (IMF) gave a clean chit to the Pakistan’s economic health, which led to the engagement with major financial institutions,...


Multilateral donors place more confidence on Pak-economy: Dar

By: Web Desk, Uploaded: 4th April 2014

Multilateral donors place more confidence on Pak-economy: Dar ISLAMABAD: Minister for Finance, Senator Muhammad Ishaq Dar has said that the economic direction of the country is positive; the multilateral donors have placed more confidence on Pakistan; IMF has revised its growth targets and we are going for World Bank IDA Programme which otherwise will lapse in June, 2014. He said this in an...


Euro weakens in Asia after Draghi comments

By: Web Desk, Uploaded: 4th April 2014

Euro weakens in Asia after Draghi comments TOKYO- The euro extended its losses in Asia on Friday after the head of the European Central Bank (ECB) signalled he was ready to aggressively loosen monetary policy as the eurozone faces the threat of deflation. The single currency dipped to 142.46 yen in Tokyo from 142.61 yen in New York Thursday, while it weakened...


Economy turns around, indicators show positive change: Ahsan Iqbal

By: Web Desk, Uploaded: 3rd April 2014

Economy turns around, indicators show positive change: Ahsan Iqbal ISLAMABAD: Federal Minister for Planning, Development and Reforms Ahsan Iqbal Thursday said the country’s economy has started showing positive signs as suggested by the indicators of the past eight months. “Some early signs are showing good results. The tide has been changed and we will try to take this towards upward motion,” the federal minister...


Euro mixed in Asia ahead of ECB meet

By: Web Desk, Uploaded: 3rd April 2014

Euro mixed in Asia ahead of ECB meet TOKYO- The euro was mixed in Asia Thursday as investors turn their attention to a European Central Bank (ECB) policy meeting later in the day, after worrying inflation data had sparked speculation of a rate cut. The single currency edged up to 143.01 yen from 142.96 yen in New York Wednesday, while it weakened to...


Ahsan vows to focus on urban planning through modern architectural trends

By: Web Desk, Uploaded: 1st April 2014

Ahsan vows to focus on urban planning through modern architectural trends ISLAMABAD: Federal Minister for Planning, Development and Reforms Ahsan Iqbal on Tuesday said that the government was committed to focus on urban planing to save national identity, history and cultural heritage through modern architectural trends. Addressing at the Mehdi Ali Mirza Award Ceremony organized by Institute of Architect Pakistan (IAP) here, Ahsan said that Pakistan...


Dar to discuss energy, infrastructure assistance with WB

By: Web Desk, Uploaded: 30th March 2014

Dar to discuss energy, infrastructure assistance with WB ISLAMABAD: Federal Minister for Finance, Senator Mohammad IshaqDar on Sunday, appreciating World Bank’s Country Partnership Strategy (2015-19), said he would discuss the bank’s assistance for country’s energy and infrastructure projects. The Finance Minister said that during his forthcoming visit to Washington DC, he will hold discussions with World Bank officials on assisting Pakistan in its energy...


Forex reserves to reach $16bn by year end: PM

By: Web Desk, Uploaded: 29th March 2014

Forex reserves to reach $16bn by year end: PM ISLAMABAD: Prime Minister Muhammad Nawaz Sharif expressed the hope on Saturday that the country’s foreign exchange reserves would be around $16 billion by end of this year. The Prime Minister, in a meeting with Sri Mulyani Indrawati, Managing Director and Chief Operating Officer of World Bank, who called on him here at the PM House,...


IMF forecasts accelerated economic growth for Pakistan

By: Web Desk, Uploaded: 29th March 2014

IMF forecasts accelerated economic growth for Pakistan WASHINGTON : The International Monetary Fund on Friday said Pakistan’s economy will continue to accelerate in the medium term as it revised upwardly the GDP growth rate at the back of strong manufacturing and reforms. The Fund, which in a sign of confidence in the country’s reforms progress this week released $ 555.6 million second...


Dollar firms after solid consumer confidence data

By: Web Desk, Uploaded: 26th March 2014

Dollar firms after solid consumer confidence data TOKYO- The dollar firmed against other currencies in Asia on Wednesday, extending gains on data showing US consumer confidence at a six-year high. In Tokyo morning trade the greenback was at 102.34 yen against 102.25 yen in New York Tuesday afternoon. The euro slipped $1.3816 from $1.3825 in US trade while fetching 141.38 yen against...


Dollar firm in Asian on Yellen rate comments

By: Web Desk, Uploaded: 20th March 2014

Dollar firm in Asian on Yellen rate comments TOKYO- The dollar edged up in Asia on Thursday, adding to gains seen in New York after Federal Reserve chief Janet Yellen hinted that interest rates could rise early next year, earlier than expected. The greenback fetched 102.40 yen in Tokyo midday trade, slightly up from 102.32 yen late in New York and much stronger...


Dollar strikes down to 98.20 rupees

By: Web Desk, Uploaded: 19th March 2014

Dollar strikes down to 98.20 rupees KARACHI: The value of Pakistani rupees is continuously on its increasing pace, whereas the dollar stroked down to 98.20, as reported by the Inter Bank. According to the sources, the value of dollar reported today by the Inter Bank was 98.20. Inter Bank further claimed that the value of dollar stroked down by 30 paisas...


 
 
 



 
 



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