Business

TOKYO: The Bank of Japan (BOJ) ended eight years of negative interest rates and other remnants of its unorthodox policy on Tuesday, making a historic shift away from its focus on reflating growth with decades of massive monetary stimulus. While the move was Japan’s first interest rate hike in 17 years, it still keeps rates stuck around zero as a …

ISLAMABAD: Exports of non-textile value-added products registered a year-on-year growth of 0.47 per cent in the first eight months of the current fiscal year, a healthy sign of getting more orders from the international market. The non-textile products exports did not include the export value of food products during the period under review. In absolute terms, the value of non-textile …

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has issued guidelines to NBFCs involved in digital lending to ensure best practices in advertisements and call centre management. The guidelines were designed to prioritise borrower protection and to prevent deceptive marketing and unethical call centre practices. Non-banking financial companies (NBFCs), licensed by the SECP, are extensively promoting their loan products …

ISLAMABAD: Presi­d­ent Asif Ali Zardari on Monday emphasised the need for boosting trade ties with the US and the United Arab Emirates and invited businessmen of the two countries to invest in Pakistan Stock Exchange (PSX). According to the Presidency, the president underlined the need to enhance trade and investment relations with the US, besides exploring collaborative opportunities in diverse …

ISLAMABAD: Continuing with perpetual electricity price shocks suppressing demand, the Central Power Purchasing Agency (CPPA) has sought about Rs5 per unit increase in fuel cost adjustment (FCA) in upcoming bills on account of electricity consumed in February to generate another Rs35 billion for ex-Wapda Distribution Companies (Discos). The additional FCA demanded by the CPPA, 113pc higher than the pre-fixed fuel …

ISLAMABAD: With an apparent understanding reached during the final review of the $3 billion Standby Arrange­ment, the visiting staff mission of the Interna­tional Monetary Fund (IMF) and Pakistani authorities agreed on Monday to extend talks overnight to conclude the Memorandum of Economic and Financial Policies (MEFP). The fina­nce ministry had earlier annou­nced the schedule of rev­iew talks ending on March 18. However, …

Bulls maintained their position at the Pakistan Stock Exchange (PSX) on Tuesday as shares gained over 600 points in intraday trade. The KSE-100 index gained 680.68 points, or 1.05 per cent, to stand at 65,571.18 points at 12:55pm from the previous close of 64,890.50. Finally, the index closed at 65,502.59, up by 612.09 points, from the previous close. Faran Rizvi, …

India’s foreign ministry said on Tuesday that China was making “absurd claims” over Arunachal Pradesh, adding that the northeastern state which shares a border with China will always be an “integral and inalienable part of India”. China claims Arunachal Pradesh to be a part of southern Tibet. New Delhi rejects the claim, saying Arunachal Pradesh has always been a part …

Guyana is the newest kid on the global energy bloc. The country’s growing oil assets, regarded by some as the find of the decade, are increasingly under the spotlight, giving rise to a new tug of war. As is always the case, attempts to grab the assets are on, both at the geopolitical and corporate levels. Guyana’s offshore oil sector …

Prime Minister Shahbaz Sharif had to withdraw the notification for the appointment of Zafar Mahmood, a retired BS-22 bureaucrat and pro-Kalabagh Dam expert, as a non-member chairman of the Indus River System Authority (Irsa) following a strong reaction from Sindh given its major stakes in water distribution. Post-1947, irrigation water was allocated in the country through ad hoc arrangements. Following …