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Greek bailout programme will expire June 30: Eurogroup's Dijsselbloem BRUSSELS: Eurozone ministers agreed Saturday that Greece's bailout programme should expire as planned on June 30 after Greece called a referendum on reform plans, Eurogroup chief Jeroen Dijsselbloem said, leaving Athens in danger of an IMF default.Dijsselbloem, the Dutch finance minister, said the ministers would now reconvene without Greece to discuss the "consequences" and "prepare for what's needed to ensure the stability of eurozone remains at its high level.""Given that situation, I think we might conclude that however regretful, the programme will expire Tuesday night," the minister said.Dijsselbloem said that because Athens called a referendum and rejected the latest proposals by the creditors, the ministers were left with no choice, leaving Greece without a financial lifeline for the first time since the crisis erupted five years ago."Regrettably, despite efforts at all levels and full support of the Eurogroup, this proposal has been rejected by the Greek authorities who broke off ...

Pakistan condemns terrorist attack in Tunisian ISLAMABAD: Pakistan on Saturday strongly condemned the bloody terrorist attack on a hotel in Sousse, Tunisia, which resulted in the loss of many precious lives and injuries to scores of Tunisians and foreign tourists. Foreign Office Spokesperson in a statement said the people and the Government of Pakistan share the pain and anguish of the people and the Government of Tunisia over the terrorist attack and wish to convey their heartfelt condolences to the families ...

CM Sindh calls on Bilawal Bhutto Zardari KARACHI: Sindh Chief Minister, Syed Qaim Ali Shah, called on Chairman Pakistan Peoples Party (PPP), Bilawal Bhutto Zardari, at Bilawal House here on Saturday. Chief Minister briefed Bilawal Bhutto Zardari about severe heatwave and load-shedding across the province which caused deaths of around a thousand people in Karachi and other parts of the province, says a Bilawal House Media Cell statement. Syed Qaim Ali Shah said that Provincial Disaster Management Authority (PDMA) has established 40 ...

IMF 'will continue to work' on stability for Greece: Lagarde BRUSSELS: IMF chief Christine Lagarde said on Saturday the lender would keep working on Greece's economy despite the government's decision to hold a referendum on an international bailout offer. "The purpose of what we're doing is to actually restore stability of the economy in Greece, this is what we'll continue to do. We'll continue to work," Lagarde told reporters before joining a meeting of eurozone finance ministers.Copyright AFP (Agence France-Presse), 2015

Iraq forces made 'unauthorised' withdrawal from Ramadi: PM BAGHDAD: Prime Minister Haider al-Abadi said Saturday that Iraqi forces made an "unauthorised" withdrawal from Ramadi last month, leading to the Islamic State group's takeover of the Anbar provincial capital."The withdrawal of the forces from Ramadi was unauthorised -- the orders were the opposite. The forces had to resist, and if they had resisted, we would not have lost Ramadi," Abadi said in televised remarks.Ramadi fell to the jihadist group in mid-May after government forces ...

Pakistani envoy calls for putting children at heart of global development agenda  NEW YORK: Pakistan's Ambassador to the United Nations, Dr Maleeha Lodhi, has called for children to be "front and centre" of the post-2015 development agenda while opening the annual session of UNICEF's Executive Board, which reviews the agency's activities and approves its policies. "No real progress can be made for children unless all children, particularly the most disadvantaged and marginalized, are reached throughout the world," Ambassador Lodhi, who is the president of the 36-member board, ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJune 25, 2015
Reserves $17.457 bln