Fitch downgrades Pakistan’s sovereign rating to CCC-
Global ratings agency Fitch cut Pakistan’s sovereign credit rating on Tuesday by two notches from CCC+ to CCC-, citing policy and large refinancing risks, critically…
Business
Cabinet approves power tariff hike, ends subsidies ahead of virtual IMF talks
The federal cabinet on Sunday approved a plan to increase the power tariff and end subsidies ahead of virtual talks with the International Monetary Fund…
US jet shoots down new mystery ‘object’ over Canada
A US fighter jet shot down an unidentified object over Canada on Saturday, the second such incident in North American skies since the dramatic downing…
Rs170bn in taxes to be imposed through mini-budget prior to IMF deal: Ishaq Dar
Hours after the International Monetary Fund (IMF) issued a statement on its talks with Pakistan, Finance Minister Ishaq Dar said that the parleys with the…
Matters with IMF expected to be settled today: Ishaq Dar
Finance Minister Ishaq Dar said on Thursday that talks with the International Monetary Fund (IMF) were “on track” and the government would share “good news”…
Rupee continues recovery streak against dollar
Pakistani rupee continued to show recovery in the interbank market on Thursday, extending its gains against the dollar by Rs4.83. Before 12pm, the local currency…
US dollar falls against rupee by 5.58 in interbank market
The Pakistani rupee on Monday gained 5.58 against the US dollar in the interbank market. The US dollar closed at Rs276.58 in the interbank market…
Pakistan, Afghanistan sign draft convention for avoidance of double taxation
Pakistan and Afghanistan on Friday signed an agreement to eliminate the double taxation policy for further enhancing the bilateral and economic ties between the two…
Republicans oust Ilhan Omar from high-profile US House committee
US House of Representatives Republicans on Thursday ousted Democrat Ilhan Omar from a high-profile committee over remarks widely condemned as antisemitic, two years after Democrats…
Rupee plunges to historic low as IMF gives Pakistan ‘tough time’
The rupee on Friday plunged to a historic low against the dollar after Prime Minister Shehbaz Sharif’s said that the International Monetary Fund (IMF) is…