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Cigarette production rises by 72pc in FY18
KARACHI: The production of cigarettes in FY18 surges by 72 per cent.
According to the State Bank’s Statistical...
Shahid Iqbal
FDI plunges 40pc in July-August
Total FDI fell to $288 million during July-August FY19 compared to $480.6m in the corresponding period last year.
Optimism evaporates from currency market
Dollar in the open market for the first time in more than a month is traded higher than the inter-bank rate.
Top 5 banks bag 52pc of industry profits
The five big banks have over a 59.5pc holding in the total banking sectors’ investments.
Moody’s warns of growing pressures on Pakistan's economy
“Pakistan is facing pressures owing to import of capital goods rising from domestic demand,” says ratings agency.
Current account gap widens 16pc
Current account deficit rises to $2.2 billion in July 2018-19 versus $1.932bn last year – an increase of $268 million.
SBP move slows down trading on open market
Currency dealers insist that the State Bank move has made the business risky for large investors.
Foreign investment plummets 45pc
The country has received a total of $128 million in FDI during July compared to $233.8m same month last year.
Summit, Sindh Bank merger likely by end of September
Supreme Court’s clearance is still required to see the deal through.
Remittances jump 25pc in July
Overseas Pakistani workers remit $1.93 billion in the first month of 2018-19 as compared to $1.54bn received last July.
Real-time bank transactions surge to Rs361 trillion in FY18
Despite improvements in digital payment systems, cash transactions continue to remain in vogue: SBP.
SBP moves to regulate banks’ overseas operations
Half of all profits from overseas branches to be remitted back; boards to play more active role in oversight.
Forex companies fleecing public with both hands in run-up to Eid
The gap between the buying and selling rate in the open market is Rs9 per dollar.
SBP moves to boost housing finance
Provision of cheap financing to help solve problem of housing shortage.
Corporate sector’s external debt rises to $7.4bn
Pay-back for foreign financing could lead another spike in demand for dollars.
Rupee appreciates 3.1pc against dollar
The US dollar was traded as low as Rs124 in the interbank market.
Rupee’s recovery drive on
The dollar traded in the open market at Rs123 buying and Rs126 selling.
Trade gap with China rises to $9.7bn in FY18
China, the largest trade partner of Pakistan, has further increased its exports to $11.458bn.
Rupee strengthens further against dollar
Greenback was selling at lower than interbank rate.
Rupee gains against dollar in open market
Elections bring stability to the exchange rate on the very first day.