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IMF chief Lagarde to visit Indonesia next week WASHINGTON: The International Monetary Fund managing director, Christine Lagarde, heads to Indonesia next week for talks with senior officials and a high-level Asian finance conference, the IMF said Wednesday.During her September 1-2 visit, Lagarde will meet with President Joko Widodo and other senior officials, including Bank Indonesia Governor Agus Martowardojo.The visit "presents an opportunity to exchange views on recent economic developments, Indonesia's prospects, and its role as an emerging power both in the region and globally," the Washington-based crisis lender said in a statement. Lagarde's visit comes at a time of heightened volatility in Asian financial markets, largely due to China's economic slowdown and markets turmoil, as well as falling commodity prices that have hammered Indonesia and other emerging-market economies and their currencies.Last week Indonesia's central bank kept its key interest rate unchanged for the sixth consecutive month, as it struggled to stabilize the plunging rupiah following China's surprise currency ...

Facebook adding virtual assistant to Messenger app SAN FRANCISCO: Facebook on Wednesday began testing a Messenger app virtual assistant that the leading social network said goes beyond artificial intelligence programs already on the market.The personal digital assistant -- dubbed "M" -- completes tasks along with seeking out information at the behest of users."Unlike other AI-based services in the market, M can actually complete tasks on your behalf," Facebook's David Marcus said in an online post."It can purchase items, get gifts delivered to ...

Asif chairs meeting to review arrangements for Defence Day commemorations ISLAMABAD: Minister for Defence Khawaja Muhammad Asif Wednesday chaired a meeting to review preparations to commemorate 50th anniversary of 1965 war with India.The meeting was attended by the office holders and representatives of All Pakistan Newspapers Society (APNS), Council of Pakistan Newspaper Editors (CPNE) and Pakistan Broadcasters Association (PBA) here.Minister for Information, Broadcasting and National Heritage Senator Pervaiz Rashid and Minister for States and Frontier Regions (SAFRON) Abdul Qadir Baloch were also present in the ...

PML-N to devise strategy on tribunal's verdict after consultation with PM: Pervaiz ISLAMABAD: Minister for Information, Broadcasting and National Heritage Senator Pervaiz Rashid Wednesday said the Pakistan Muslim League-Nawaz (PML-N) leadership would hold consultations with Prime Minister to chalk out a strategy regarding the verdicts of election tribunals.Talking to a private mews channel, he said the Pakistan Tehreek-i-Insaf (PTI) had a tradition of fleeing from elections, but now they would not let them to escape.PTI Secretary General Jehangir Tareen was defeated by an independent candidate in the ...

Nisar discusses wide-ranging issues with British counterpart ISLAMABAD: Interior Minister Chaudhry Nisar Ali Khkan on Wednesday discussed Pak-UK bilateral relations, bilateral cooperation especially in the area of security and ongoing fight against terrorism in his meeting with British counterpart Theresa May.During the meeting, Interior Minister also discussed role of Pakistani community in the United Kind and ways and means to further strengthen the existing bilateral multi-faceted cooperation. Discussing Pak-UK bilateral relations, the Interior Minister observed that Pakistan greatly valued its friendly relations ...

Dar has telephonic conversation with Deputy PM of Turkey ISLAMABAD: Minister for Finance Senator Mohammad Ishaq Dar had a telephonic conversation with the Deputy Prime Minister of Turkey, Ali Babacan Wednesday evening.They discussed matters relating to economic cooperation in general and bilateral cooperation between the two countries in the Asian Infrastructure Investment Bank (AIIB) in particular, according to statement issued by Ministry of Finance.They shared their strategies for forming a joint constituency in collaboration with other member states and agreed in principle to work ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 24, 2015
Reserves $18.678 bln