SBP raises Rs150bn through T-bills
The benchmark 6-month treasury bills rate was slightly increased on Wednesday while the State Bank raised Rs150 billion through the auction. The SBP sold 6-month t-bills worth Rs65 billion at the cut-off yield 13.16 per cent which was higher than the previous rate of 13.11 per cent. more... (D)
SECP cuts fee for companies registration
The Securities and Exchange Commission of Pakistan (SECP) has reduced the fee structure payable to the registrar and the commission under the Sixth Schedule of the Companies Ordinance, 1984 vide its SRO 996(I)/2010. The SECP said that through this notification, it has reduced the registration fee for physical submission of documents for incorporating a company with nominal capital up to Rs10 million. more... (D)
IMF tranche in jeopardy?
The United States administration has withdrawn its support for Pakistan to get waiver from the International Monetary Fund (IMF) to seek release of next tranche of $3.4 billion under Stand-By Arrangement (SBA) and conveyed to the Gilani-led government that from now onwards it has to directly deal with the Fund for future alignment.
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Fed takes bold, risky step to bolster economy
The Fed-eral Reserve launched a controversial new policy on Wednesday, committing to buy $600 billion more in government bonds by the middle of next year in an attempt to breathe new life into a struggling US economy. The decision, which takes the Fed into largely uncharted waters, is aimed at further lowering borrowing costs for consumers and businesses still suffering in the aftermath of the worst recession since the Great Depression. more... (BR)