The Asia-Pacific Group (APG) on Money Laundering has rated Pakistan’s level of effectiveness as ‘low’ on 10 out of 11 international goals on anti-money laundering and combating the financing of terror (AML/CFT), even though the country is now compliant on 38 out of 40 technical recommendations. The Sydney-based regional affiliate of the Financial Action Task Force (FATF) released an update, as
The dollar nursed losses on Tuesday ahead of United States inflation data that investors hope might show some signs of softening, while the euro rose on hawkish comments from policymakers that rates would need to increase further. The euro was last up 0.06 per cent to $1.013, after hitting a nearly one-month high of $1.0198 in the previous session and gaining 0.76pc overnight. Sterling was u
Oil prices tumbled more than $4 on Wednesday, slumping below levels seen prior to Russia’s invasion of Ukraine as downbeat Chinese trade data fed investor worries about recession risks. Brent crude futures were down $4.12, or 4.4%, at $88.71 a barrel by 1543 GMT, touching their lowest since February 3 and falling below $90 a barrel for the first since February 8. US West Texas Intermediate crud
The foreign exchange reserves held by the central bank increased 14.3% on a weekly basis, according to data released by the State Bank of Pakistan (SBP) on Thursday. “During the week ended September 2, 2022, SBP received $1,166 million from IMF under EFF (Extended Fund Facility) programme,” the SBP said in a statement on Thursday. On September 2, the foreign currency reserves held by the SBP
Pakistan’s economy is experiencing structural inflation where the percentage change in the Consumer Price Index (CPI) is in double digits. The percentage change in the Wholesale Price Index (WPI) has remained very high in the last couple of years. The Sensitive Price Indicator (SPI) is also in double digits, creating trouble for the masses. In order to combat this structural inflation, the g