Business centre to connect Pakistan, China
China’s Qinghai province has announced plans to establish a Business Development Centre in Lahore, as an effort to take trade relations to new heights by aggressively exploring opportunities for joint ventures in various sectors. more... (ET)
IMF warns of deteriorating Pakistan economy
The International Monetary Fund said Thursday that Pakistan’s economic situation was worsening and faces a return to double-digit inflation as the government prints money to finance its deficit. more... (ET)
Reserves improve; dollar gains
Pakistan’s foreign exchange reserves improved, but dollar jumped to a record high against rupee on Thursday.According to State Bank figures, foreign exchange reserves increased by $59 million to $14.9 billion, giving a positive signal to the market.
Analysts see 100bps cut in policy rate
A majority of analysts expect the State Bank of Pakistan to cut interest rates by 100 basis points to 9.5 per cent, the second cut in 2012-13 fiscal year, when it meets on Friday to unveil its monetary policy.
Expo 2012 opens: Global crisis having impact on economy: Makhdoom
Minister for Commerce Makhdoom Amin Fahim said here on Thursday that global economic conditions are also having their adverse impact on country’s trade and industry.Speaking to media after inaugurating the seventh Expo Pakistan-2012, the |minister said such events give an opportunity to foreign buyers to have a direct contact with manufacturers and sellers and also help in building country’s soft image.
Pakistan drafts new rules for issuing sukuk
Pakistan's regulator has issued new draft rules for the issuance of sukuk or Islamic bonds, as part of a range of initiatives to boost the Islamic banking sector in the country. Under the rules, released on Thursday, sukuk will have to be structured to comply with standards of the Bahrain-based Accounting and Auditing Organisation for Islamic Finance Institutions, as well as those set by the local regulator. more... (BR)