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Pakistan’s central bank raised its benchmark interest rate on Monday by 150 basis points to 13.75%, the second hike in less than two months, as the South Asian nation grapples with a sinking economy.
Pakistan’s rupee on Friday rose by 0.24%, or 57 paisa, to close at 239.37 after a two-week losing streak against the US dollar, central bank data showed on Friday.
Federal Finance Minister Miftah Ismail on Friday admitted that Pakistan was close to default when they took power, adding that they had few options other than to go to the International Monetary Fund (IMF)
Bank investments in UAE hit Dhs548.5 billion by the end of March, the highest level in the country’s history, a report by the Central Bank of the United Arab Emirates revealed.
China’s factory gate prices fell at the fastest pace in seven years in May and quicker than forecasts, as faltering demand weighed on a slowing manufacturing sector and cast a cloud over the fragile economic recovery. As rising interests rates and inflation squeeze demand in the United States and Europe, China is in contrast
India’s industrial and warehousing demand across the top five cities remained strong during the first quarter (Q1) of 2023, rising by 11 per cent Year-over-Year (YoY) at 7.2 million sq ft, according to Colliers survey. The quarter also saw the highest leasing compared to the previous 8 quarters. This sustained streak in leasing
The Gulf Cooperation Council(GCC) countries are leading the battle against the shadow economy in the Middle East and North Africa (Mena) region by implementing effective policies.Gulf Cooperation Council nations boast a remarkably small shadow economy, with informal businesses accounting for just 18 per cent of gross