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ISLAMABAD: Pakistan on Tuesday approved issuing $3 billion worth sovereign guarantees against a Chinese loan for a nuclear power plant and also stamped an operator-favoured State Support Agreement for the outsourcing of the Islamabad…

ISLAMABAD: The risks to Pakistan’s public debt remain high and any further exchange rate shock would persistently keep the debt above the sustainable level of 70% of the nation’s economy in the next three years, a Finance Ministry report…

SINGAPORE: The dollar headed for its first weekly gain in nearly two months on Friday as investors raised their bets that the Federal Reserve will increase rates in May, while a surprising recovery in the euro zone economy in April…

ISLAMABAD: Industrial and Commercial Bank of China (ICBC) has not directly given a $1.3 billion loan due to Pakistan’s highly risky credit rating and instead disbursed funds through its Karachi branch to help bail out Islamabad. Because…

ISLAMABAD: Pakistan on Monday decided to surrender 10% of the government’s Hajj quota to Saudi Arabia and approved the provision of additional $163 million for financing the pilgrimage after it could not succeed in plans to ease the burden…

KARACHI: Pakistani rupee continued to stabilise around current levels on Tuesday as it inched up 0.01%, or Rs0.03, and closed at Rs283.55 against the US dollar in inter-bank market. The rupee managed to inch up owing to low demand for…

“FPCCI has reached a conclusion that Pakistan needs continuity in economic policies to support the investment climate and all political parties must unanimously agree to a 15-year economic agenda,” Sheikh emphasised.

The latest recovery came after Pakistan received a loan of $500 million from China on Friday. It was the first of three tranches of a loan totaling $1.3 billion.

Saad Bin Naseer, director of financial data and analytics portal Mettis Global, told Daily City News that after the rupee’s fall yesterday, a sense of panic had prevailed in the market and people thought that the IMF programme won’t be…

Reports in the market suggest that the IMF wants the value of the rupee in the interbank market to match its value in the black currency market.