Friday , 19 January 2018
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Govt increases petrol price by Rs. 2.5 per litre

Govt increases petrol price by Rs. 2.5 per litre

The announcement was made by Finance Minister Ishaq Dar in a press conference. The federal government has decided not to revise the rates for kerosene, light speed diesel and high octane fuel. He also said that Oil and Gas Regulatory Authority (OGRA) had suggested a higher increase in the petrol prices but the federal government only approved a Rs. 2.5 ... Read More »

Largest US banks face $120 billion shortfall under new rule

The requirements are aimed at ensuring that some of the biggest and most interconnected banks, which include Goldman Sachs Group Inc, JPMorgan Chase & Co, and Wells Fargo & Co, can better withstand another crisis by turning some of their debt, particularly debt issued by their holding companies, into equity without disrupting markets or requiring a government bailout. The banks ... Read More »

SBP spent Rs 6.69 bn to print notes during FY 2015, says annual performance report

SBP spent Rs 6.69 bn to print notes during FY 2015, says annual performance report

The annual performance review, including financial statements of the Bank and its subsidiaries and the auditor’s report thereon, has been released to the public and transmitted to the Federal Government pursuant to Section 40(2) of State Bank of Pakistan Act 1956. According to the report, SBP spent Rs 6.69 billion to print notes during FY 2015 — compared to Rs ... Read More »

World stocks on course for best month in four years

World stocks on course for best month in four years

That has helped soothe concern over higher borrowing costs in the United States as the Federal Reserve prepares to tighten rates, possibly by the end of the year. Corporate earnings also boosted sentiment, with results from France’s Renault, BNP Paribas and Airbus in particular getting the thumbs up from investors. In early trade, the pan-European index of leading 300 shares ... Read More »

LinkedIn profit beats as hiring services, ads revenue jumps

LinkedIn profit beats as hiring services, ads revenue jumps

Shares of the company, which also raised its full-year profit and revenue forecasts, jumped 12 percent in extended trading on Thursday. LinkedIn has been spending heavily on expansion by buying up companies, hiring sales personnel and increasing its presence in China and other markets outside the United States. Expanded offerings helped boost revenue from the company’s Talents Solutions business, which connects recruiters ... Read More »

Pakistan’s liquid foreign reserves at $19,818mln

Pakistan’s liquid foreign reserves at $19,818mln

According to a statement by the State Bank of Pakistan (SBP), the foreign reserves held by SBP was $14,918.3 million whereas the net foreign reserves held by banks was $4,900.4 million. The release also stated that the State Bank’s liquid foreign exchange reserves went down by US$102 million to $14,918 million, compared to $15,020 million in the previous week. The ... Read More »

Petrol prices likely to increase by Rs. 5.73 per litre

Petrol prices likely to increase by Rs. 5.73 per litre

OGRA, in its summary, has recommended the petroleum ministry to hike per litre price of petrol by Rs. 5.28 per litre and to increase the cost of high octane fuel by 5.73 per litre. The oil and gas monitory body has suggested the federal government to raise the cost of high speed diesel by Rs. 3.34 whereas the rate of ... Read More »

Rupee sinks against dollar a record-high this year

Rupee sinks against dollar a record-high this year

Currency dealers have described the depreciation of the rupee against the dollar as a deliberate attempt by the government to devalue the local currency. The dollar rate in the inter-bank market was around Rs105.5 on Monday. It is learnt that the government was pressurized to devalue the rupee during talks with the International Monetary Fund in Dubai. Source By : ... Read More »

Weak U.S. business spending plans point to slower economic growth

Weak U.S. business spending plans point to slower economic growth

The Commerce Department said on Tuesday non-defense capital goods orders excluding aircraft, a closely watched proxyfor business spending plans, slipped 0.3 percent last month after a downwardly revised 1.6 percent decline in August. These so-called core capital goods were previously reported to have dropped 0.8 percent August. The data was the latest dour news for the manufacturing sector, which has ... Read More »

Attacks on India’s beef industry hit buffalo meat trade

Religious activists, who critics say have been emboldened by nationalist premier Narendra Modi’s ascendance, have stepped up attacks on the beef industry, alleging that cows are being killed and falsely labeled for export as buffalo meat. Cows are revered in Hindu culture and their killing is banned in some states. Beef exports are banned, but in recent weeks suppliers of ... Read More »