Reuters According to figures from the Central Bank, the amount of foreign investors who departed from Russia between March 2022 and March 2023 after selling their businesses there was close to $36 billion. Many of the biggest companies in the world have left or decreased their operations in Russia inRead More →
KARACHI – Pak Suzuki Motor Company (PSMC) said on Tuesday that it would halt its motorbike manufacturing facilities until June 10 as the nation’s economic condition worsens. The Pakistan Stock Exchange (PSX) received notification of the news. It said that the continuous import restrictions by the government, which have hadRead More →
Sotheby’s revealed on Friday that seven non-fungible tokens from the collapsed cryptocurrency hedge fund Three Arrows Capital had sold for around $2.5 million. “Fidenza #725,” a piece with geometric dashes and curves in a soft palette of cream, yellow, pink, and black, was the most expensive of the tokens, costingRead More →
NEW YORK (Reuters) – The U.S. Recent developments in artificial intelligence are boosting excitement about how organisations may become more productive in the coming years. They are also a significant boost to the stock market. The S&P 500’s (.SPX) 9% gain this year has been driven by a few ofRead More →
KARACHI (Web Desk) – The State Bank of Pakistan (SBP)-led foreign currency reserves fell further during the week ending May 12 as external debt repayments cut reserves for the third week in a row. The reserves declined by $72 million to $4.31 billion, according to the central bank. The presentRead More →
According to Japan’s finance minister Shunichi Suzuki on Saturday, the central banks and finance ministers of the Group of Seven wealthy countries concurred that the world financial system is robust but that caution is still required. In a joint statement, the officials vowed to remedy any regulatory vulnerabilities in theRead More →
The International Monetary Fund (IMF) has now requested Pakistan to arrange $8 billion in new loans to support external debt repayments over the next seven months in order to ensure that the long-stalled ninth review bailout package is successfully completed, despite receiving confirmation from Saudi Arabia and the United ArabRead More →
Beginning on Tuesday, the suspension of mobile broadband internet services cost Pakistan’s telecom industry Rs2.49 billion. Due to the riots started by Imran Khan’s imprisonment, mobile broadband internet connections have been down for a fourth day in a row in numerous parts of the nation. Mobile broadband services provide 280Read More →
LONDON/DUBLIN- (Reuters) – European savers are withdrawing more money from banks in search of a better bargain, as lenders refuse to pay up to hang on to deposits that they believe they can temporarily manage without. The pattern revealed as several of the region’s largest lenders reported a successful startRead More →
(Reuters) – Wall Street finished down on Thursday as PacWest’s decision to investigate strategic alternatives fueled concerns about the health of US lenders, weighing on shares of regional banks as well as JPMorgan Chase (JPM.N), Wells Fargo & Co (WFC.N), and other large financial institutions. PacWest Bancorp (PACW.O) fell 51%Read More →
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