Pakistan central bank holds rates at 15%, to closely watch inflation

  • KARACHI: Pakistan’s central bank on Monday held its main policy rate at 15 percent, the bank said in a statement, adding it would closely watch inflation data and global commodity prices. “Looking ahead, the MPC (monetary policy committee) intends to remain data-dependent, paying close attent...
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Libya’s Bashagha says oil blockade tied to budget release

  • SIRTE, Libya: Libya’s oil blockade would likely end if the central bank supplies the funds for the budget that parliament approved this week, the parliament-appointed prime minister, Fathi Bashagha, told Reuters. Bashagha was sworn in by the eastern-based parliament in March but Abdulhamid Al-...
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British PM’s visit to Saudi Arabia to pave way for free trade deal, stronger business ties

  • RIYADH: British Prime Minister Boris Johnson met Wednesday with Saudi Crown Prince Mohammed bin Salman to bolster economic and business ties between the two nations. The Kingdom and other GCC nations are working on a free trade agreement that may see the light faster after this visit.  ...
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Here’s what you need to know as TASI wraps up the trading week

  • RIYADH: Saudi stocks rose on Wednesday following five straight days of losses, boosted by news of growth in the Kingdom's gross domestic product. Saudi GDP rose by the highest annual rate since 2015 of 3.2 percent in 2021, with a growth of 6.7 percent in the fourth quarter, acc...
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Pakistan’s Khyber Pakhtunkhwa attracts around $10bln at Expo Dubai — investment chief

  • KARACHI: Expo 2020 Dubai has enabled Pakistan’s northwestern Khyber Pakhtunkhwa (KP) province to attract an estimated $10 billion investment in key sectors, including energy and tourism, a top KP investment official said on Sunday.  The expo, which began in October 2021, is offering lucra...
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Japan requests boosting of UAE crude oil output: Minister

  • TOKYO: Japan has asked the United Arab Emirates to increase its crude oil production in response to increased prices, industry minister Koichi Hagiuda said Tuesday. “We will assess the impact on domestic industries by monitoring crude oil price trends and the domestic (price) situation for pe...
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Pakistan raises policy rate to 7.25% in bid to slow growth in current account deficit

  • KARACHI: After keeping it unchanged for almost 15 months, Pakistan’s central bank on Monday raised the policy rate by 25 basis points to 7.25 percent, hoping to slow down growth in the current account deficit due to an unexpectedly faster pace of economic recovery.  The State Bank of Paki...
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Pakistan to roll out track and trace system to help tax collection, digitize economy

  • ISLAMABAD: Pakistan’s tax collection agency has decided to launch a track and trace system from November that will focus on tobacco, cement, sugar and fertilizer industries to enhance the government’s revenue and curb smuggling of illicit goods, officials said on Wednesday. The Federal Board o...
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Lebanon’s deepening crisis holds slender promise of a decentralized state

  • DUBAI: Since Lebanon’s currency collapsed in October 2019 — thrusting the nation into its deepest economic crisis in recent memory — a growing number of its citizens have been forced to rely on private generators to power their homes. The alternative is to go without electricity for several hou...
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Lebanon’s central bank to commit to audit as Macron urged to freeze ‘doubtful’ assets

  • BEIRUT: Lebanon’s finance ministry said the central bank agreed on Tuesday to provide by the end of the month the documents required by Alvarez & Marsal for a stalled forensic audit. The audit, which hit a roadblock last year, is a key condition for foreign aid that Lebanon badly needs as ...
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