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The Bank of Japan (BoJ) has raised its key short-term interest rate to around 0% to 0.1%, marking its first interest rate hike in 17 years. This move is in response to inflation rates exceeding the central bank’s target of 2% and the biggest wage hike in over three decades by the country’s largest corporations. […]
The State Bank of Pakistan (SBP) has unequivocally rejected recent reports suggesting the issuance of polymer (plastic) banknotes. In a firm statement released on Saturday, the central bank dismissed these claims as “baseless and without substance.” “No change under consideration” Amid speculation about the SBP’s purported plans to introduce plastic currency notes as a measure […]
Pakistan has been facing a significant financial burden in the form of loans with the government requiring an urgent infusion of Rs.7,300 billion to meet its financial obligations. This was disclosed by Minister for Planning, Development and Special Initiatives Ahsan Iqbal, who emphasized the need for decisive action to manage the country’s mounting debt. Economic […]
Pakistan’s IT services industry is making impressive strides with a remarkable growth of 8.98% recorded in the first six months of the fiscal year 2023-24. According to official data, the industry’s earnings reached US $1,454.881 million, marking a significant increase compared to the same period in the previous fiscal year. Pakistan’s IT industry on the […]
Pakistan’s caretaker Minister for Commerce and Industries, Dr. Gohar Ejaz, recently shared positive news regarding the country’s trade performance. In January 2024, Pakistan witnessed a notable surge in revenue from exports, totaling $2.786 billion. This figure represents a significant increase of 26.9% compared to the same month in the previous year. Increasing exports, decreasing imports […]
The CEO of an esteemed international brand Louis Vuitton Moet Hennessy LVMH, Bernard Arnault has surprisingly beaten Tesla’s CEO Elon Musk as the world’s richest person. Renault reached the top of the chart with a net worth of $207.6 billion, higher than Musk who is currently at $204.7 billion. In the list, on third is […]
Last year, buyers from India and the United Kingdom accounted for the most transactions, with Russians – who topped UAE’s list – ranked as the third-largest buyers. Notably, there was a significant increase in buyers from Pakistan as well – ranked as the 7th largest – Egypt, Lebanon, and Turkey, indicating Dubai’s continued role as […]
This week, US President Joe Biden announced his nomination of Ajay Banga, the former CEO of Mastercard, as the new President of the World Bank. The World Bank is an international organization that provides financial and technical assistance to developing countries around the world. Indians making their mark in the tech world Banga, an Indian-American, […]
