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China central bank eases policy again to support economy

BEIJING: China’s central bank cut lending rates for the fourth time since November and trimmed the amount of cash that some banks must hold as reserves, stepping up efforts to support an economy that is headed for its poorest performance in a quarter century. Saturday’s combined easing highlights Beijing’s concerns [...]

IMF lauds progress in Pakistan’s bank capitalisation

KARACHI: The Executive Board of the International Monetary Fund (IMF) has completed the seventh review of Pakistan’s economic performance under a three-year program supported by an Extended Fund Facility (EFF) arrangement. The Board’s decision enables the immediate disbursement of an amount equivalent to US$506.4 million, bringing total disbursements under the [...]

BankIslami meets its paid-up capital requirement of Rs 10b

KARACHI: BankIslami has finally made itself financially sound at par with regulator’s benchmark accomplishing its exercise of floating right shares to raise billion of rupees to meet up its paidup capital of Rs 10 billion. Official statement said the company’s paid-up capital reached to Rs 10.079 billion after it concluded [...]

Exports again fall short of target

ISLAMABAD: Pakistan’s export of merchandise fell short of target by over $2.8 billion in the outgoing fiscal year. It was the third consecutive year in which the ruling PML-N failed to achieve the export target. The government had projected an export target of $27bn for 2014-15, but actual export proceeds [...]

Will Greece make it to the referendum?

The announcement by Prime Minister Alexis Tsipras that Greece would hold a July 5 referendum on its financial rescue has analysts rushing to predict the outcome of an inherently uncertain ballot. The events of the eight days leading to the vote will be equally interesting, and every bit as consequential [...]

US Fed sticks with an softening line for investors

Investors didn’t get their usual pre-Federal Open Market Committee meeting drift higher in stocks, but they did get a bit of a post-announcement bump. And with good reason: most of what the US Federal Reserve System, and Chair Janet Yellen, said reflects a central bank which wants to get rates [...]

Ramazan prices

Presiding over a meeting of the National Price Monitoring Committee a few days ago, Finance Minister Ishaq Dar  expressed concern over the increasing price trend in kitchen items and asked the relevant authorities to monitor the situation and submit reports to check the hike. The Ministry of Food Security and Research [...]

Plaudits pour in for calender girl Serena

LONDON: Serena Williams arrives at Wimbledon for the latest stage of her bid for an historic calendar Grand Slam with the praise of her peers ringing in her ears. Williams has swept to victory at the Australian and French Opens over the last six months and a sixth Wimbledon crown [...]

Paraguay stun Brazil to reach Copa semis

CONCEPCION: Brazil s penalty shoot-out jinx struck again as Paraguay sent them crashing out of the Copa America in a stunning repeat of their 2011 upset of the five-time world champions. Striker Derlis Gonzalez was the hero for Paraguay, slotting a second-half penalty to level the match at 1- 1 [...]