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Ishaq Dar orders SBP to release the LCs worth $50,000 Federal Finance and Revenue Minister Ishaq Dar Sunday announced that the pending payment of the $50,000 Letter of Credit (LC) would be completed within a week. At a press conference, Dar revealed that the decision to assist was made after consultation with the Governor of […]
Net FDI falls over 26% in first two months of FY23 As revealed by the state bank of Pakistan, FDI (Foreign Direct Investment) in Pakistan fell by 26.1% during the initial 2 months of ongoing FY23. It clocked in at just $169.5 million. In comparison to the previous year, this figure was $229.5 million, i.e. […]
Gold rebounds from Six-Week-Low, Copper increased on Chinese Measures The price of gold recovered sharply from the lowest level of six weeks on Tuesday because the energy crisis that worsened in Europe raised safe-haven demand, while copper extended the benefits of more expectations of Chinese stimulus measures. Read Also: The IMF warns EU countries on […]
The IMF warns EU countries on deficits, debt ratios The International Monetary Fund (IMF) has warned European Union countries about their fiscal deficits and debt ratios. In a report released on Tuesday, the IMF said that while the EU’s overall fiscal deficit is projected to decline this year, it will still be above the bloc’s […]
Inflation rate in Sri lanka is running at 60.8% while central bank warns of 8% contractions in 2022! The economic crisis in the island nation of Sri Lanka is worsening with each passing day. Amid pressing financial concerns, the IMF has decided to resume talk with Sri Lanka. On Friday, the IMF said that a […]
Running out of money Sri Lanka raised interest rates one percentage point, the second massive increase in the last three months. The central bank of Sri Lanka has already warned about the recession and 80% inflation as well. After the release of last month’s inflation data which indicates inflation at a record high of 54.6%, […]
Iran has applied to join China and Russia in the BRICS club The second-largest gas reservoir, Iran has applied to join the BRICS group. This group includes Russia, China, India, Brazil, and South Africa. Beijing and Moscow consider it a powerful emerging market against the West. The term BRICS was invented in 2001 by Jim […]
On Monday, thousands of students from state universities marched in Sri Lanka’s capital. Protestors aimed to demand the president and prime minister resign over the worst economic crisis. According to the students, Sri Lankan President and Prime Minister are responsible for the shortage of essential goods. This economic crisis has led to the disruption of […]
India faced a lot of criticism after putting ban on wheat export. Due to this ban, the global food supply could be worsen as Ukraine is already in the situation of war. German Food and Agriculture Minister Cem Ozdemir said if everyone puts ban on wheat export then the crisis would be more alarming. But […]