KARACHI: The inflows of workers’ remittances fell 25 per cent a month-on-month basis to clock-in at $2.3 billion in May, the State Bank of Pakistan (SBP) said on Friday. The workers’ remittances have continued to remain above the $2 billion mark since June 2020. In terms of growth, the remittances decreased 25.4 per cent on … Read more
KARACHI: The Pakistan bourse increased 1.3 per cent during the week ended March 4, 2022, which can largely be attributed to the contribution from the E&P, which gained on account of run up in the crude oil prices, amid the ongoing Russia and Ukraine conflict that has resulted in higher international commodity prices. The Pakistan … Read more
WASHINGTON: After two weeks of talks, the IMF has said it has advanced efforts to secure an aid program to help Lebanon overcome its “unprecedented and complex” economic crisis, but more work is needed. The country will need fiscal reforms that ensure it can manage its debt load as well as measures to establish a … Read more
Atlas Battery Limited was incorporated as a public limited company on October 19, 1966. It is engaged in manufacturing and sale of automotive and motorcycle batteries and allied products. The company is a subsidiary of Shirazi Investments (Private) Limited, which holds 58.86 per cent of issued, subscribed and paid-up capital of the company as of … Read more
DUBAI: The signing of new investment deals reportedly worth $30 billion between Saudi Arabia and Oman is no doubt a positive development for solidifying cooperation between the member countries of the Gulf Cooperation Council, Arab News reported. Yet the first questions that spring to mind are: Why Oman and why now? From a geopolitical perspective, Saudi Arabia’s … Read more
S&P Global Ratings has revised Bahrain’s outlook to ‘stable’ from ‘negative’ on the back of new fiscal reforms aimed at improving non-oil revenues and cutting state spending, Reuters quoted the ratings agency, as saying in a statement. Rated below investment grade, Bahrain was bailed out to avoid a credit crunch in 2018 with a $10 … Read more
KARACHI: The Finance Ministry has estimated a 7 per cent fiscal deficit for the outgoing fiscal year, despite reduction in the expenditures and increase in revenues. According to the Economic Survey of Pakistan released on Thursday, the fiscal deficit has been estimated at 7 per cent of GDP during the outgoing fiscal year 2020/21, compared … Read more
The former spy chief of Iraq, Mustafa Kadhemi became prime minister on Thursday (May 7). The decision was taking when the state facing a shocking economic crisis due to coronavirus pandemic. The parliament has approved the new government overnight later last-moment changes to the cabinet line-up, the former chief of the National Intelligence Service (INIS) … Read more
