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Inundations added to fiscal pains: PM Turkey’s first lady meets Gilani, visits affected areas
NOWSHERA: Prime Minister Syed Yousuf Raza Gilani said Thursday that country's economy which was already in tatters due to war on terror suffered another major blow due to the floods. ... |
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Government approves four Eid holidays ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani has approved four days official holidays for Eid-ul-Fitr celebrations. According to a press release issued here on Thursday the holidays would commence from September 10. |
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Wajid vouches for players’ innocence LONDON: Pakistan High Commissioner to the United Kingdom Wajid Shamsul Hasan has said the three Pakistani cricketers at the centre of alleged betting scam will defend their innocence as they considered themselves innocents. Speaking to the media outside the Pakistan Mission in Central London on Tuesday following his meeting with Salman Butt, Muhammad Asif and Muhammad Aamer, he said the players will stay in the UK until all the investigations were completed. ... |
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Refiners margins slide 1pc QoQ Ahmed Siddique
KARACHI: The downward price trend of crude oil has adversely affected the domestic Gross Refinery Margin (GRM) for the month of September, declined 17 per cent MoM to $2.61/bbl. ... |
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FX reserves up at $16.12bn FX reserves up at $16.12bnKARACHI: Country's foreign exchange reserves rose to $16.12 billion in the week ending on Aug 27 from $16.11 billion a week earlier, the central bank said on Thursday.
Reserves held by the State Bank of Pakistan (SBP) rose to $12.37 billion from $12.35 billion, while those held by commercial banks fell to $3.75 billion from $3.76 billion, said Syed Wasimuddin, the SBP's chief spokesman. Pakistani officials are holding crisis talks in Washington with the IMF focusing on the floods which started in July and the IMF predicted the catastrophe would have a "major and lasting" economic impact. The IMF and Pakistan will release a statement at 1415 GMT on Thursday about the discussions. Pakistan agreed to an $11 billion IMF loan programme in 2008. If the IMF agrees to ease the loan's targets, or extend the repayment period, it would alleviate the government's financial burden. -Reuters ... |
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Aid pledges to date, reach $1bn FO welcomes US ban on TTP
ISLAMABAD: Intern-ational response to Pakistan's floods is gradually gaining momentum and so far pledges of one billion dollars have been secured.
Briefing newsmen here Thursday Foreign Office Spokesman Abdul Basit said Foreign Minister Shah Mehmood Qureshi visited four GCC countries including Oman, Saudi Arabia, Kuwait and Qatar to apprise the leadership of those countries about the relief activities and plans for reconstruction and rehabilitation of flood affected areas. ... |
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MQM will lead revolution: Altaf Hussain Staff Reporter
KARACHI: MQM chief Altaf Hussain said that revolution was unavoidable in Pakistan and this would happen under the supervision of MQM.
In a telephonic address with the participants, Altaf Hussain said that a revolution like French Revolution will be taken place in Pakistan and people will never let corrupt ... |
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WB raises flood support to $1bn WASHINGTON: The World Bank has increased funding to help Pakistan cope with catastrophic flooding by $100 million, to a total of $1 billion, the bank said in a statement.
"The World Bank is committed to helping the people of Pakistan during this time of need and has made $1 billion available to finance immediate recovery needs and longer-term reconstruction," the statement quoted World Bank President Robert Zoellick as telling Pakistani Finance Minister Hafeez Shaikh in Washington. ... |
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Moody’s issues 5 Pak banks’ rating KARACHI: Moody's investors services on Thursday changed to negative from stable the outlook on the long-term local currency deposit ratings and bank financial strength saving of the following 5 Pakistani banks. ABL (d-/ba3), HBL (d-/ba3), MCB (d/ba2), NBP (d/ba2), and UBL (d-/ba3). At the same time Moody's have affirmed the foreign currency deposits savings of b3/not-prime assigned to these banks. -Agencies ... |
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KSE, SECP cross swords Issue of non-member director as head of KSE Board
Nawaz Ali
KARACHI: The run-in between the members of Karachi Stock Exchange and SECP doesn't seems to be a one-off as KSE members Tuesday spelled out their resolve to move on with the restructuring agenda despite the dissent showed by the Chairman apex regulator. ... |
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