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Business & Finance Updated 22 Jan, 2021 05:23pm

State Bank MPC maintains policy rate unchanged at 7pc

  • There could be some changes in the projection due to change in electricity rates, and international oil prices but it will be temporary, said Baqir.
  • “It is very important that at present the monetary policy should convey a message of stability,” the SBP Chief said.
  • The yearly inflation rate is projected to remain at 7-9pc as previously announced.
State Bank MPC maintains policy rate unchanged at 7pc
Currency Rate
USD PKR Interbank Selling / Jan 22
160.65
USD PKR Interbank Buying / Jan 22
160.55
USD to Japanese Yen / Jan 22
103.52
USD to Swiss Franc / Jan 22
0.89
Pound Sterling to USD / Jan 22
1.37
Euro to USD / Jan 22
1.22
Stock Volume
S&P 500 / Jan 22
3853.07
India Sensex / Jan 22
49624.76
Tokyo Nikkei / Jan 22
28756.86
Nasdaq / Jan 22
13530.91
Hang Seng / Jan 22
29927.76
FTSE 100 / Jan 22
6715.42
Dow Jones / Jan 22
31176.01
Germany DAX 30 / Jan 22
13906.67
France CAC40 / Jan 22
5590.79
Indicator Value
UK LIBOR % / Jan 22
0.09

Business & Finance

State Bank MPC maintains policy rate unchanged at 7pc

State Bank MPC maintains policy rate unchanged at 7pc

  • There could be some changes in the projection due to change in electricity rates, and international oil prices but it will be temporary, said Baqir.
  • “It is very important that at present the monetary policy should convey a message of stability,” the SBP Chief said.
  • The yearly inflation rate is projected to remain at 7-9pc as previously announced.
Updated 22 Jan, 2021 05:23pm
BR Research

Current account

The current account is finally in deficit after a surplus streak of 5 months. It stood at $662 million in December;...
Published 22 Jan, 2021 07:25am

Alphabet closes down internet balloon network project 'Loon'

  • Loon was deployed to provide internet in Puerto Rico after Hurricane Maria in 2017, as well as after a major earthquake in Peru.
  • Operations will be wound down in "the coming months", with the hope that Loon employees will be redeployed at Alphabet, the firm said.
Published 22 Jan, 2021 05:26pm
Stocks

Indian shares end lower as banks, metals drag; Reliance results in focus

  • The blue-chip NSE Nifty 50 index fell 1.5% to 14,371.90 and the benchmark S&P BSE Sensex fell 1.5% to 48,878.54.
  • There is some market fatigue that is creeping in after a massive rally. Even though foreign investors remain net buyers in the market their numbers have come down sharply.
Published 22 Jan, 2021 05:07pm
Money & Banking

India central bank proposes scale-based regulations for shadow banks

  • Higher risk appetite of NBFCs has contributed to their size, complexity and interconnectedness making some of the entities systemically significant.
  • The size of the balance sheet of shadow banks including housing finance companies has more than doubled to 49.22 trillion rupees in 2020 from 20.72 trillion rupees in 2015.
Published 22 Jan, 2021 04:22pm

BR Research

BR Research
Think out-of-box FDI (II)

Think out-of-box FDI (II)

While there is a need to rethink FDI policy and invigorate and charge up IPAs’ role – as highlighted last in ...
Published 22 Jan, 2021 07:35am
BR Research

Biden’s hour

If seasoned American political observers are to be believed, Joe Biden has taken oath as President at an ominous...
Published 22 Jan, 2021 07:40am
BR Research

Oil rises – PL goes down

Brent crossed $56/bbl the other day, registering an 11-month high. More and more signs now tell oil prices may stage...
Published 21 Jan, 2021 07:25am

Pakistan

Sadiq Sanjrani backs Senate polls through open ballot

  • In his reply submitted in the apex court, the chairman said that Senate polls are held through secret ballot as per the Election Act 2017.
  • “The Parliament has the prerogative to make amendments in the law, while the Supreme Court has right to interpret the constitution,” he wrote.
Updated 22 Jan, 2021 05:43pm

Pakistan condemns twin suicide blasts in Baghdad

  • The twin suicide blasts in Baghdad killed at least 32 people and wounded more than 100.
  • "Pakistan condemns terrorism in all its forms and manifestations and stands in solidarity with the brotherly government and people of Iraq in their fight against terrorism," FO said.
Published 22 Jan, 2021 04:14pm

Hamza Shahbaz withdraws bail plea in SC

  • The judge questioned the legal representative of Hamza whether the petitioner would continue to pursue the case or withdraw his plea.
  • Hamza was arrested in June 2019 from inside the LHC in relation to two cases pertaining to money laundering and accumulating assets beyond means of income.
Updated 22 Jan, 2021 05:50pm

Sindh may postpone exams due to prolonged school closure

  • "We all agreed that we should be in a hurry to hold exams and ensure that at least 60% of the curriculum is taught comprehensive."
  • Ghani said that the committee has been set up to review and compile schedules for the academic year and examination.
Updated 22 Jan, 2021 02:40pm

COVID-19 claims 47 more lives in Pakistan

  • During the past 24 hours 1,745 new infections were reported across the country.
  • With fresh inclusion of the infections in the country the national tally of cases now currently stands at 528,891.
Published 22 Jan, 2021 02:09pm

Latest

World

'I will fire you on the spot', Biden warns staff if they disrespect colleagues

  • "I'm not joking when I say this: If you're ever working with me and I hear you treat another with disrespect, talk down to someone, I promise you I will fire you on the spot," Biden said.
  • The US president further said that everybody is entitled to be treated with decency and dignity, adding that it has been missing in a 'big way in the last four years'.
Published 22 Jan, 2021 03:02pm
South Asia

Democrats with BJP/RSS links excluded from Biden Administration

  • Obama administration staffer Sonal Shah and Amit Jani, who worked on the Biden campaign team, have so far been excluded, allegedly due their RSS-BJP links.
  • These allegations were reportedly brought to the Biden campaign by over a dozen Indian-American organisations.
Updated 22 Jan, 2021 12:11pm
Middle East

Top Iran leader posts Trump-like golfer image, vows revenge

  • The Twitter account of Iran’s Supreme Leader on Friday carried the image of a golfer resembling former President Donald Trump apparently being targeted by a drone, vowing revenge over the killing of a top Iranian general in a U.S. drone attack.
  • The post carried the text of remarks by Ayatollah Ali Khamenei in December, in which he said “Revenge is certain”.
Published 22 Jan, 2021 05:14pm
Freeing capital flows

Freeing capital flows

EDITORIAL: One important element behind attracting investment is the ease with which capital enters and exits a...
PDM’s ECP rally

PDM’s ECP rally

EDITORIAL: The Pakistan Democratic Movement’s (PDM’s) rally before the Election Commission of Pakistan (ECP)...

British MPs on Kashmir

EDITORIAL: International spotlight is gradually turning on the besieged illegally Indian occupied Jammu and Kashmir...
Fate of daily wagers

Fate of daily wagers

EDITORIAL: The recent survey of the Pakistan Bureau of Statistics (PBS) that measured the socioeconomic impact of ...
Data update

Data update

EDITORIAL: The State Bank of Pakistan has updated data on foreign domestic debt as well as investment inflows...
Zidane tests positive for COVID-19

Zidane tests positive for COVID-19

  • The former French international will now enter a period of self-isolation.
  • “Real Madrid CF announces that our coach Zinedine Zidane has tested positive for Covid-19,” says the club.
Updated 22 Jan, 2021 05:27pm