Fitch Ratings downgrades Pakistan to ‘CCC-‘
Downgrade reflects sharp deterioration in external liquidity, funding conditions, decline of foreign exchange reserves. Fitch Ratings downgrades Pakistan to ‘CCC-‘….
Economy
Rupee takes a hammering, falls to historic low of 255 against dollar in interbank
Dollar down over Rs24.11 in interbank and more than Rs12 in open market. Rupee takes a hammering, falls to historic…
Saudi Aramco shares terms of investing in Pakistan’s greenfield refinery
Aramco says it will only invest in Pakistan if conditions are met. Saudi Aramco has shared its terms with the…
Markup rates for export financing raised to 13%
SBP raises export financing markup rates by 200 basis points. Markup rates for export financing raised to 13%. The State…
World Bank sees India’s growth at 6.9% this year
Global slowdown has much slower impact on indian economy, says World Bank World Bank sees India’s growth at 6.9% this…
Pakistan seeks support from Bank of China to bring back macroeconomic stability
Ishaq Dar urges Bank of China to expand business relations with Islamabad to deepen economic and financial relations. Pakistan seeks…
China’s COVID infections hit record as economic outlook darkens
The far northeastern city of Harbin announced lockdowns of some areas on Thursday. China’s COVID infections hit record as economic…
Pakistan seeks rescheduling of $27bn bilateral debt: Ishaq Dar
Dar rules out possibility of default on Pakistan’s debt. Pakistan seeks rescheduling of $27bn bilateral debt: Ishaq Dar. Pakistan’s new…