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Banks face global push to prepare for interest rate rise

FRANKFURT: The global banks face a push from international regulators for stiffer rules on the capital needed to handle an increase in interest rates. The Basel Committee on Banking Supervision is weighing updating its standards for capturing interest-rate risk on assets banks plan to hold to maturity, Stefan Ingves, the [...]

Denmark applies to join China-backed Investment Bank

BEIJING: Denmark has applied to join the Beijing-led Asian Infrastructure Investment Bank (AIIB), China’s Ministry of Finance said on Monday, becoming the latest European power to join the institution despite misgivings of the United States. The Ministry of Finance said that Denmark has written to China to “announce its intention [...]

LCCI demands to end unscheduled electricity loadshedding

LAHORE: The Lahore Chamber of Commerce and Industry has warned of massive lay-offs and industrial closures if unscheduled load shedding is not stopped immediately in Lahore Township Industrial area by the Lahore Electric Supply Company (LESCO) is worsening the situation. The LCCI President Ijaz A. Mumtaz was talking to a [...]

Chiniot mineral deposits

Recently, Prime Minister Nawaz Sharif, accompanied by CM Punjab Shahbaz Sharif, attended a briefing by the Metallurgical Corporation of China (MCC) on the discovery of substantial gold, copper, iron ore and silver deposits in Chiniot. The Prime Minister said that the reserves would lead to breaking the “begging bowl” enabling [...]

Putin’s economic team plays magic

LAST week, the Russian central bank’s currency reserves increased for the first time since last July, showing that the economy may have moved past the panic caused by last year’s oil price slump. Perhaps Russia’s improving indicators will convince Western governments that economic sanctions are having no discernible effect and [...]

Why aren’t banks cutting loan rates?

BANKS don’t want to compromise on their interest income in the last quarter of the year and depress profits. Since January, the Reserve Bank of India (RBI) has cut its policy rate by half a percentage point to 7.5% in two stages, but most commercial banks have not passed on [...]

England have fear factor again, Rooney says

London: England have regained the fear factor following a run of “aggressive” wins since the World Cup last summer, skipper Wayne Rooney has said. Roy Hodgson s side left Brazil on a low after becoming the first England side since 1958 to exit at the group stage of a World [...]