ANKARA (AP) — Recep Tayyip Erdogan was re-elected as president of Turkey last month, even though the economy is in bad shape and there is a cost-of-living problem that experts say is made worse by his unusual economic policies. The longtime leader put a well-known former banker in charge ofRead More →
KARACHI : (APP) – As of May 26, Pakistan’s total liquid foreign reserves was at $9,513 million, with the central bank holding $4,090.7 million. The State Bank of Pakistan said in a statement that the central bank’s foreign reserves fell by $102 million to $4,090.7 million owing to external debtRead More →
LONDON (Reuters) : On Friday, sterling was on track for its greatest one-week gain versus the dollar in six months, as US interest rates seemed set to peak sooner than UK rates. With the all-important monthly US jobs data expected later in the day, currency market action was muted. “FromRead More →
KARACHI, (Reuters) – According to the Ministry of Commerce, Pakistan has issued a special order allowing barter commerce with Afghanistan, Iran, and Russia for specific items such as petroleum and natural gas. Pakistan’s government is frantically attempting to handle a balance of payments crisis and keep inflation under control afterRead More →
As political unrest plagues markets, the Pakistani rupee plunged to its all-time low of 300 versus the US dollar during intraday trade today after dipping below 296 at 12:10 PM. The interbank rate lost Rs. 10 during the first few hours of intraday trade today, falling to Rs. 300.25 atRead More →
According to information issued by the central bank on Thursday, the foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased by $74 million to $4.38 billion in a week. According to information, commercial banks have net foreign reserves at $5.6 billion. The State Bank of Pakistan’s (SBP)Read More →
The price of gold in Pakistan decreased on Thursday after seeing the largest one-day spike the day before. The price of gold (24 carats) declined by Rs 2,700 per tola to Rs 237,300 and by Rs 2,314 for 10 grammes to Rs 203,447, according to statistics made public by theRead More →
ISLAMABAD – The government has resolved to eliminate customs fees and extra customs levies on Turkish imports until 2033. According to the FBR, charges on glucose, glucose syrup, taste powder, dog and cat food have been eliminated, while duties on 133 goods, including corn flakes, mosquito killing sprays, and electricRead More →
TOKYO, (Reuters) – Oil prices surged more than 2% on Friday as energy companies reported strong results and U.S. statistics showed oil production dropping while fuel demand increased. Brent futures for June delivery increased $1.17, or 1.5%, to $79.54 a barrel on their last day as the front-month, while theRead More →
LAHORE (Wed Desk) – The State Bank of Pakistan declared that the Rs 75 commemorative bank note released on Pakistan’s 75th Independence Day was lawful cash. The bank stated that the note will be utilised as a means of exchange for all transactions in Pakistan. On Pakistan’s 75th Independence Day,Read More →
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