State Bank of Pakistan (SBP) Executive Director for Digital Financial Services Group Syed Sohail Javaad said on Tuesday the country’s instant payment system Raast is on a par with similar systems implemented by developed and developing countries around the world. “You have to think of the possibilities. The SBP has provided you with all the tools that are being used globally, (especially) in In
Ratings agency Moody’s on Tuesday downgraded the outlook on China’s credit rating to “negative” from “stable” on the back of rising debt in the world’s second-largest economy. China’s post-pandemic recovery has been hampered by weak consumer and business confidence, a persistent housing crisis, record youth unemployment and a global slowdown that is weighing on demand for the country’s goods.
Good quality onion prices have swelled to Rs160-180 per kg from Rs120-140 two weeks back as retailers blame massive exports for the price spiral. They said that many inflation-hit consumers have restricted their purchases to less than one kg to manage their daily expenses of other items due to high prices. There is also no relief in new potato prices which are available at Rs120 per kg, whil
India will remain the fastest-growing major economy for at least the next three years, setting it on course to become the world’s third-largest economy by 2030, S&P Global Ratings said in a report. S&P expects India, currently the world’s fifth-largest economy, to grow at 6.4 per cent this fiscal year and estimates growth will pick up to 7pc by FY27. In contrast, it expects China’s growth to sl
The Aircraft Owners and Operators Association of Pakistan (AOOA) on Tuesday rejected the doubling of security deposit and other charges under the Aviation Policy 2023 saying the move would prove catastrophic for the already struggling aviation industry. The association in a press statement said the sharp increase in security deposits, which are Rs10 million now, would discourage fresh investmen