Singapore: The World Bank Group announced today that its financing commitments in roads, bridges, energy, clean water, and other critical infrastructure projects grew by 45 percent to US$24.2 billion in the fiscal year 2014, up from US$16.7 billion in [...]
Limassol: The outlook for Kuwait’s banking system remains stable, unchanged [...]
Moscow: Central banks for Russia to Kazakhstan and Mexico increased [...]
BERLIN: Germany is to reject a multi-billion free trade deal [...]
London: Barclays Wealth has suffered more senior departures, further indicating [...]
WASHINGTON: Alan C. “Ace” Greenberg, who transformed Bear Stearns Cos. from a small bond shop into the fifth-largest U.S. securities firm, never lost his faith in the bigness of banks. Greenberg, who died yesterday at 86, said in a 2010 book that the bank run that swallowed Bear Stearns in [...]
NEW YORK: Deutsche Bank AG (DBK), HSBC Holdings Plc (HSBA) and Bank of Nova Scotia were accused in a lawsuit of rigging the price of billions of dollars in silver, an allegation similar to earlier suits involving the London gold fix. The banks unlawfully manipulated the price of the [...]
MEXICO CITY: Mexico’s central bankers were unanimous in their decision to hold interest rates at a record low earlier this month, with the majority signaling slack in the economy persists while the inflation outlook remains positive, minutes showed today. Central Bank board members voted 5-0 at their July 11 meeting [...]
RIO DE JANEIRO: Brazil’s central bank announced measures to boost credit in the country’s ailing economy, one week after keeping its benchmark interest rate at its highest level in over two years to fight inflation. The bank said in a statement it was freeing up an estimated 30 billion reais [...]
WASHINGTON: The International Monetary Fund urged Ukraine’s leaders to press forward with “steady implementation” of economic reforms agreed with the fund, a day after the prime minister tendered his resignation. A fund spokesperson said the IMF’s Managing Director Christine Lagarde spoke by telephone with Ukrainian President Petro Poroshenko and Prime [...]
Weekly Corporate Watch The Competition Commission of Pakistan has summoned the officials of the internet service providing companies in the country for practicing the deceptive marketing in violation of the CCP’s rules. The Commission has sent letters to 8 companies PTCL Evo, Wateen, Qubee, Nayatel, Micronet, Comsats, Nexlinx and Cybernet, [...]
Amir, Jamaat-e-Islami Pakistan, Sirajul Haq has said that the present government of Pakistan Muslim League (PML-N) should complete its mandated period, saying his party would not support any unconstitutional move that could lead to winding up of the democratic system in the country. Talking to APP after addressing a gathering [...]
Federal Interior Minister Chaudhry Nisar Ali Khan said on Sunday that the decision to call for the Army’s assistance in maintaining the law and order situation in Islamabad for three months under Article 245 of the Constitution had no link with “any political rally or party”, media reported. He claimed [...]
When I pulled back the curtains of my hotel room in the morning, it was raining and the sky was heavily overcast. It felt like an impressionistic painting framed in the large window, a dream-like vista that sets you in a romantic mood. My heart leapt up when I beheld [...]
When it comes to prescribing solutions to issues and challenges facing Pakistan, or processes to ameliorate them, there is no shortage of opinions and analyses. Many of these are intelligent, informed and relevant – indeed excellent. Many are not. But even the latter are not irrelevant because they often better [...]