IMF denies role in tough Pak budgetary moves
PESHAWAR: Resident Representative of the International Monetary Fund in Pakistan Maria Teresa Daban Sanchez claimed that the Pakistani government had taken tough budgetary measures...
UBS mulls bank overhaul, hundreds of jobs at risk
LONDON: Almost a year after taking over at UBS Group AG’s investment bank, co-heads Piero Novelli and Rob Karofsky are working on their first...
Pakistan stocks slide below 30,000 level
KARACHI: The benchmark KSE-100 index extended losses dipping 539 points (1.8 per cent) to close at 29,783, falling below the psychological level of 30,000.
The...
Futures slip after Wall Street’s best day in two months
NEW YORK: U.S. stocks futures slipped on Friday, a day after Wall Street roared back to record its biggest one-day rise in two months,...
Xiaomi, Samsung to unveil smartphones with ultra-high resolution camera
BEIJING: Chinese tech firm Xiaomi announced Wednesday that it will roll out smartphones featuring 64-megapixels (MP) camera technology via a partnership with Samsung Electronics.
The...
Hiring and firing by bank
Sarah Butcher
If you want a new front office banking job before October, you might struggle. People are being cut at HSBC. People are being...
Central banks surprising markets with aggressive rate cuts
LONDON: The Reserve Bank of New Zealand (RBNZ) stunned markets with a 50 basis point cut, twice the expected level, to take its official...
SBP plans Modaraba-based financing for SMEs
KARACHI: The State Bank has decided to introduce a Modaraba-based Islamic Refinance Scheme for working capital financing of small and low-end medium enterprises.
The central...
UBL, MCB profits up
KARACHI: The United Bank Ltd’s (UBL) consolidated PAT for 2QCY19 soared by 51pc year-on-year to Rs5.13bn.
EPS was noted at Rs4.19 while the board also...
SWIFT expanding presence in China
LONDON: SWIFT, the global financial messaging service platform, is accelerating its localization in China given the backdrop of increasing Chinese financial market liberalization, its...