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Banking & Finance


ISLAMABAD: The Asian Development Bank (ADB) returned to the US dollar bond market with the pricing of a $1.25 billion 3-year global benchmark bond issue. The proceeds of the Bank's third global bond issue of the year will form part of the bank's ordinary capital resources and will be used in its non-concessional operations, said ADB statement received here on Wednesday. The bonds, which carry a coupon rate of 0.50% per annum payable semiannually and a maturity date of 17 August 2015, were priced at 99.666% to yield 0.605%, or 19.55 basis points over the 0.25% US Treasury notes due May 2015. The issue achieved wide primary distribution with about 52% of the bonds placed in Asia, 22% in Europe, Middle East and Africa, and 26% in the Americas. By investor type, around 63% were bought by central banks and official institutions, 20% by fund managers, and 17% by banks and others. The transaction was ...

ISLAMABAD: Public Accounts Committee (PAC) on Tuesday directed National Highway Authority (NHA) to ensure recovery of misappropriate amount of Rs 51.324 million from contractors within one month and present report in this regard. Showing surprise on the way the officials made corruption and awarded the work to contractors for Rs 51.324 million whose actual cost was Rs 0.4 million, showing more than 12,000 per cent high price. Chairman of the Committee Nadeem Afzal Gondal remarked that this ...
RECORDER REPORT KARACHI: Agricultural credit disbursement by banks surged by 15.29 percent on year-on-year basis to Rs 223.845 billion in the first ten months (July-April) of the current fiscal year (2011-12). In absolute terms, disbursement of credit to the agriculture sector increased by over Rs 29.688 billion in July-April, 2012 when compared with total disbursement of Rs 194.157 billion in the same period of the last fiscal year. Overall credit disbursement by five major commercial banks including Allied ...
KARACHI: State Bank of Pakistan in its reverse repo open market operation in treasury bills and Pakistan Investment Bonds has injected Rs 27.450 billion in the banking system. According to SBP here Monday, the offered amount was Rs 54.200 billion while the rate of return stood at 11.60 percent per annum. Copyright APP (Associated Press of Pakistan), 2012 ...
KARACHI: Speakers at the 1st Islamic Finance Expo and Conference have asked Islamic banks to distribute the profit among shareholders and depositors alike and on the basis of Islamic principle of justice. They said that depositors hand over their savings to Islamic banks and it is their duty to also give a fair return to depositors on their saving and fo not just ensure the interest of shareholders of the bank. They advised Islamic banks to simplify ...
KARACHI: Islamic banking has recorded a robust growth in the country in the last few years and can further expand tremendously with the help of effective legislation and introduction of more products. These were the views of speakers and Shariah advisors of Islamic banking at the 1st Islamic Finance Expo & Conference 2012, being held at Karachi Expo Centre with the support of State Bank of Pakistan. They said that total assets of Islamic banking in Pakistan ...
KARACHI: The Karachi Stock Exchange (KSE) will discontinue manual processing of cash deposits and release in near future and will implement cash management system (CMS) to manage all auto-deposit and auto-release of cash margins. This system will also manage market-to-market differences and other changes related to KSE clearing houses. KSE has advised its members to get CMS facilities at the earliest to their own benefit. The new system will ensure that all cash releases must be routed ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln