Prime Minister Shehbaz Sharif on Friday called for substantial reforms of the international financial framework to attain the sustainable developmental goals (SDGs). The premier urged on the reforms during his video appearance at the first virtual Summit of the Future Global Call at the United Nations in New York. PM Shehbaz emphasised the need for enhanced concessional … Read more
DG PSB, Muhammad Yasir Pirzada, in a meeting with Pakistan Chess Team participating in Chess Olympiad on August 24, 2024. — Facebook,Pakistan Sports Board The Pakistan Sports Board (PSB) has issued a directive to 44 sports federations, asking for the submission of detailed financial and audit reports. According to the PSB, this move aims to ensure … Read more
ISLAMABAD: The government has approved new schemes to encourage remittance inflows through banks and money changers, aiming to increase both remittance volumes and financial benefits. Under the new measures, money changers will receive 2 rupees per dollar for declaring remittances to banks. If remittances exceed targets compared to the previous year, the profit will rise … Read more
The government has planned to overhaul bilateral development financial institutions that have come under scrutiny for nepotism and mismanagement. These institutions, initially established to promote industrial growth and foreign investment, have instead shifted their focus to investing heavily in government debt, often through loans from the State Bank of Pakistan (SBP). As per a media … Read more
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Listen to article A new study recently revealed that the rapid growth of online sports betting in the United States is disproportionately affecting financially constrained households. The research highlights the adverse effects of this booming industry on low-income Americans. NBC News reports that online sports betting has skyrocketed from an average of $1.1 billion per month in … Read more
The State Bank of Pakistan (SBP) injected a total of Rs966.5 billion into the financial system on Friday, through both conventional and Shariah-compliant Open Market Operations (OMOs). These operations were part of the central bank’s ongoing efforts to manage liquidity in the market and support monetary policy objectives. In the conventional OMO, the SBP injected … Read more
The Privatisation Commission Board unanimously approved the appointment of financial advisors to privatize Pakistan International Airlines (PIA), power distribution companies (Discos), and the Roosevelt Hotel in New York. The board selected six firms as pre-qualified financial advisors for upcoming privatisation transactions, ensuring timely engagement for these projects. These include Citigroup Global Markets Ltd (UK), JP … Read more
BEIJING: The reported meeting of China-US Financial Working Group, which was widely expected to focus on topics such as macroeconomic and financial stability, governance of the IMF and capital markets issues, signaled that despite the trade tensions, both sides are still seeking to stabilize relations between the world’s two largest economies. The reported meeting demonstrated … Read more
DHAKA: Political turmoil in Bangladesh is likely to slow planned financial reforms and has already added to weakness in the banking sector, S&P Global Ratings said on Wednesday. Prime Minister Sheikh Hasina quit and fled to India last week after student-led protests against her spiralled into some of the worst violence since Bangladesh’s 1971 independence, … Read more
KARACHI: State Bank of Pakistan (SBP) Governor Jameel Ahmad has emphasised the importance of developing skills and setting high standards for the financial sector in the country. He was speaking at the launch of Nibaf Pakistan, a new entity formed with the merger of the National Institute of Banking and Finance (Nibaf) and the Institute … Read more