U.S. crypto moneylender Voyager Digital (VOYG.TO). Said on Wednesday it had sought financial protection. Turning into one more setback from an emotional fall in costs. Has shaken the digital money area. Crypto moneylenders, for example, Voyager blast in the COVID-19 pandemic, drawing contributors with exorbitant financing costs. Simple admittance to advances seldom presented by customary … Read more
The British High Commissioner said that Pakistan was a significant monetary and exchanging accomplice of UK. Pakistan’s products arrived at $2.1billion toward the finish of last financial year. The ambassador was addressing media at the birthday function of Queen Elizabeth-II here on Sunday. UK High Commissioner to Pakistan, Dr Christian Turner said that respective exchange … Read more
Iranian supreme leader says the allies will continue to resist pressure from Washington. The signing ceremony was overseen by Iranian President Ebrahim Raisi and Venezuela’s Nicolas Maduro. Iran and Venezuela are grappling with crippling U.S. sanctions against their oil-reliant economies. Iran and Venezuela, oil makers wrestling with devastating U.S. sanctions, marked a 20-year collaboration plan … Read more
Shares in Credit Suisse (CSGN.S) turned pointedly higher on Wednesday evening. Dealers refering to an Inside Paradeplatz report that U.S-based State Street (STT.N) is arranging a takeover bid for the grieved moneylender. Credit Suisse shares wound up 3.8% in Zurich subsequent to hopping following the report in the Swiss monetary blog. From lows hit before … Read more
Credit Suisse was already in the red in the first quarter due to a larger-than-expected loss last year. Russia’s invasion of Ukraine, monetary tightening by central banks and end. Covid-linked stimulus measures have caused “heightened market volatility”, the bank said. Credit Suisse, the scandal-plagued Swiss banking giant, warned on Wednesday that it expects to report … Read more
Japan’s economy shrank an annualized 0.5% in January-March. That was a more modest drop than the primer perusing of a 1.0% fall delivered the month before. Steady production network disturbances stay a gamble to financial energy in April-June. Japan’s economy shrank somewhat not exactly at first revealed in primary quarter, as confidential utilization stayed strong … Read more
Although Warren Buffett has made his less than favorable opinion on something crypto abundantly clean in the past, his granddaughter, Nicole Buffett, is a large fan of crypto. She is widely known inside the crypto space as a running artist who creates and sells non-fungible tokens (NFTs). Buffett turned into even featured on Fortune’s NFTy … Read more
US households had been within the quality monetary role in almost a decade ultimate year — before the Omicron variation of Covid-19 hit, the Federal Reserve stated Monday. Despite issues about the overall monetary state of affairs, more Americans felt comfortable with their budget and have been capable of coping with unexpected prices, in keeping … Read more
Amid developing doubts over the USA’s capability to cope with external responsibilities with its foreign exchange reserves spent right down to naked bones, Pakistan’s sovereign bond yields have surged sharply. “Since December 2021, Pakistan’s International Bond yields have spiked drastically. Moreover, with dwindling reserves, one most important situation is repayment of a bond worth $1 … Read more
Spain and Qatar deepened their economic ties Wednesday throughout a visit by way of Sheikh Tamim bin Hamad Al-Thani as Madrid seeks to diversify its gas materials following Russia’s invasion of Ukraine. During the two-day go to — the Qatari emir’s first considering that he took power in 2013 — the two countries signed 12 … Read more
Standing outside a north London supermarket clutching two purchasing bags, Gerald Pursey bemoans Britain’s burgeoning cost-of-dwelling crisis that is impacting the entirety from the weekly save to his electricity payments. “It’s ridiculous! Every time I get out of right here (having) sold a few stuff, it is more than I concept it becomes going to … Read more
The Dow fell for a fourth instantly consultation Tuesday in advance of a key US inflation file, but crushed-down tech stocks staged a rally amid communication the market has to turn out to be oversold. A volatile day ended with the 3 foremost indices in a high-quality territory in a partial rebound from Monday’s rout … Read more
Susanna Reid, the show’s host, said Boris Johnson’s response to a 77-year-old woman who eats only one meal a day and travels by bus during the day to keep her home expenditures down was “disappointed” with the response to her plight in an interview with Good Morning Britain. On the ITV show, Reid questioned the … Read more
The Pakistan Cricket Board (PCB) and the franchises of the Pakistan Super League (PSL) are in conflict once again over two issues. After the new financial model was approved, the stakeholders’ relationship improved. The possibility of going to court was dodged, but tensions have flared over the Pakistan Junior League, which is similar to the … Read more
Russia’s invasion of Ukraine has rocked markets and triggered nations to impose retaliatory measures that would hurt the global economic system, however, no economic crisis has materialized, the IMF said Tuesday. In its present-day Global Financial Stability Report, the Washington-primarily based crisis lender said Moscow’s assault on its neighbor is “no longer a globally systemic … Read more
Washington: Volodymyr Zelensky, Ukraine’s president, stated on Sunday that he met with IMF managing director Kristalina Georgieva regarding Ukraine’s financial stability and the country’s post-war reconstruction on Sunday. “Discussed with IMF Managing Director Georgieva the issue of ensuring Ukraine’s financial stability & preparations for post-war reconstruction. We have clear plans for now, as well as … Read more
The Dow climbed yet S&P 500 and Nasdaq fell in early US trading Thursday, as financial backers processed new economic information, hawkish Federal Reserve discourse, and the most recent Elon Musk dramatization. The Tesla boss made an unexpected proposal to purchase Twitter outright, days subsequent to taking an enormous stake in the web-based entertainment organization … Read more
Cash-strapped Sri Lanka’s loss-making national carrier announced plans Thursday to lease up to 21 plane, just two days after the authorities introduced a default on its $fifty one billion overseas debt. The island kingdom is inside the grip of its maximum painful financial downturn since independence in 1948, with extreme shortages of important items and … Read more
KARACHI: The price of gold in Pakistan gained Rs800/tola to reach the all-time high of Rs132,800/tola on Wednesday amid the all-time high of dollar against the local currency. The political instability in the country, lingering talks with the International Monetary Fund (IMF) and higher commodity prices in the global market have badly hit the stability … Read more
KARACHI: The State Bank of Pakistan (SBP) has received twenty applications for digital bank licences from a diverse range of applicants, including domestic commercial banks, microfinance banks, electronic money institutions and FinTech players, a statement said on Wednesday. The central bank concluded the process of receiving applications for digital banks licences as per its announced … Read more
ISLAMABAD: Pakistan’s largest digital bank, Mobilink Microfinance Bank (MMBL) showcased its digital banking initiatives and women’s access to financial services at the ongoing Dubai Expo 2020, a statement said. MMBL President and CEO Ghazanfar Azzam shared the bank’s efforts in promoting financial inclusion in an integral event at the Pakistan Pavilion, “Women of Pakistan: Leading … Read more
LAHORE: Zindigi signed a memorandum of understanding (MoU) with the University of Education to increase financial literacy and promote financial inclusion across all campuses of the varsity, a statement said. Kiran Faisal, head of operations of Zindigi and Prof Talat N Pasha, vice chancellor of the University of Education signed the agreement. Senior members from … Read more
WASHINGTON: Fitch Ratings on Friday downgraded Turkey’s debt from BB- to B+ with a negative outlook, citing high inflation and a lack of confidence in policymakers to turn the tide. The downgrade comes after data released earlier in the month showed inflation hitting a two-decade record of nearly 50 per cent in January, though some … Read more
KARACHI: The profit after tax of DG Khan Cement Company Limited (DGKC) recorded an increase of 1 per cent to Rs1.32 billion translating into the earnings per share (EPS) of Rs3.03 during the quarter ended December 31, 2021. The company posted a profit of Rs1.30 billion (EPS: Rs2.98) during the same period last year. The … Read more
Thal Limited was incorporated on January 31, 1966 as a public company limited by shares under the Companies Act, 1913 (now the Companies Act, 2017). The company is engaged in the manufacturing of jute goods, engineering goods, papersack and laminate sheets. The company’s engineering segment is comprised of the thermal and engine components business and … Read more
NEW YORK: Crypto assets such as Bitcoin have matured from an obscure asset class with few users to an integral part of the digital asset revolution, raising financial stability concerns. The market value of these novel assets rose to nearly $3 trillion in November from $620 billion in 2017, on soaring popularity among retail and … Read more
KARACHI: Pakistan’s economy brushed aside the negative impact of the Covid-19 pandemic, as it registered a robust growth of 4.5 per cent in 2021, a latest UN report revealed. At the same time, the global body advised the State Bank of Pakistan (SBP) to assess the magnitude and timing of the monetary policy to support … Read more
WASHINGTON: In 2016, the discovery of two large, previously unreported loans sparked an economic crisis in Mozambique. Donor support to the country froze. The government was forced to make deep cuts in public spending. More recently, when Chad and Zambia asked to restructure their debt under the G-20’s Common Framework for Debt Treatments, they ran … Read more
