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Meeting discusses industrial loans, development

Listen to article ISLAMABAD: Special Assistant to the Prime Minister on Industries and Production Haroon Akhtar Khan held a meeting on Wednesday with National Bank of Pakistan (NBP) President Rehmat Ali Hasnie to deliberate on enhancing financial support for industrial development. During the meeting, matters related to industrial loans, investment promotion and strengthening partnership between the banking … Read more

Stocks rise as SBP keeps rate on hold

[ Listen to article KARACHI: The Pakistan Stock Exchange (PSX) witnessed a mixed session on Wednesday as investors remained cautious ahead of the State Bank of Pakistan’s (SBP) policy rate announcement. However, late-session buying lifted the benchmark KSE-100 index by nearly 450 points. The index fluctuated between intra-day high of 139,018.88 and low of 137,658.81. It closed … Read more

UAE begins Gaza water pipeline project

JERUSALEM: The United Arab Emirates has begun construction on a major pipeline to carry desalinated water from Egypt to southern Gaza, according to multiple sources. Technical teams sent by the UAE have started transporting equipment needed for the project, the Emirati state news agency WAM reported on Wednesday. The nearly seven-kilometre (4.5-mile) pipeline aims to … Read more

Stokes, Jadeja prosper in ICC rankings

DUBAI: All-rounders Ben Stokes and Ravindra Jadeja have made substantial gains in the ICC Men’s Test Player Rankings after their fine performances with both bat and ball in the drawn fourth Test of the ICC World Test Championship series between England and India. England captain Stokes has progressed three places to third position among all-rounders, … Read more

Industry dismayed by policy rate status quo

[ Listen to article KARACHI: The trade and industrial community has strongly reacted to the State Bank of Pakistan’s (SBP) decision to leave its policy rate unchanged at 11%, which came in contrary to widespread expectations of a 50-basis-point reduction and calls for a massive cut to around 6%. In the run-up to monetary policy announcement on … Read more