The move to allow loans in USD, Euros, GBP and Yen aims to modernise and grow the microfinance sector.
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Dubai debt payment suspension rocks markets
State-owned giant Dubai World effectively defaults on its debt; govt defends the move as ‘carefully planned.’ -
Expenditure surges by more than 24.5pc
A slowdown in revenue receipts has resulted in a much higher fiscal deficit than envisaged in the budget. -
CCP upholds orders in appeal filed by KSE
The Competition Commission upheld the order that placing a floor on the stock exchange had the effect of fixing price. -
KSE extends trading suspension of 15 companies
The suspension period has been extended for another 60 days upon the failure to comply with requirements. -
Pakistan’s forex reserves fall to $13.90 billion
The foreign exchange reserves fell from $14.12 billion the previous week, according to the State Bank of Pakistan.
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Kolkata fish market
HIGHLIGHTS
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Interest rate cut
The bank’s guarded approach towards monetary easing is understandable in the current economic conditions. -
Vegetable prices rise ahead of Eid
This has become an annual ritual and price regulators always remain helpless. -
India to import 810,000 tonnes of sugar in Nov
Reeling from an acute shortage, India is likely to post record imports. -
How countries have coped with the oil ‘curse’
As Iraq ramps up production, it should take cues from other countries with oil riches. -
India scraps rice import tenders
The govt cancelled the 30,000 tonne import, denting the hopes of regional exporters.
WEATHER - PAKISTAN
Cities
TEXTILE CONFLICT
A surge in overseas sales means the product is scarce in the domestic market, hitting the value-added sector.
BROKEN MECHANISM
The Justice Bhagwandas Commission had found that collusion between officials and oil cos had lost the exchequer billions.
LOW ENOUGH?
The central bank warned that inflation still loomed as a threat while foreign inflows and security remained uncertain.
NO END IN SIGHT
Net inter-corporate debt is back up to Rs135 billion despite massive govt injections to resolve the debilitating crisis.
EXPORTS DOWN
The imports in July-October this year stood at $3.08 billion, compared to $4.9 billion during the same period last year.
INTEREST RATES?
The State Bank governor said forex reserves had improved, inflation had decreased and credit demand was on the rise.
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