Kuwait’s Prime Minister Sheikh Ahmad Nawaf al-Sabah has announced a cabinet reshuffle which includes the appointment of a new finance minister. The reshuffle keeps major roles unchanged, according to state news agency KUNA. The move comes over a month after the government resigned due to differences with the opposition-controlled parliament. Manaf Abdulaziz Al Hajri has […]
Pakistan’s Finance Minister, Ishaq Dar, announced on Saturday that he had cancelled his scheduled trip to attend the spring meetings of the International Monetary Fund and World Bank in Washington. This decision was made on the orders of the Prime Minister, due to the current political situation in the country. Despite not attending in person, […]
Sources have informed The News that Pakistan State Oil (PSO) and the State Bank of Pakistan (SBP) are collaborating on establishing banking channel arrangements for the import of crude oil from Russia. According to sources, the government aims to commence the import of crude oil from Russia by the end of April. State Minister for […]
Investing in dividend-paying stocks can be a better option than risk-free small saving schemes such as PPF, EPF, and bank FDs. This is because sometimes these stocks can offer a double benefit – a high dividend yield that beats traditional risk-free investment options, and a significant increase in value over the investment period. PFC is […]
According to recent reports, Tesla has lowered its prices in the United States by 2% to nearly 6%, as the company continues its push to offer discounts on its electric vehicles. The price cut, which was reflected on Tesla’s website on Thursday, has raised concerns among analysts who warn that it could potentially impact the […]
On Thursday, the government of Pakistan announced that Saudi Arabia has conveyed its commitment to the International Monetary Fund (IMF) for providing bilateral financial support to Pakistan. The government is hopeful that this assurance from Saudi Arabia, along with a similar commitment from the United Arab Emirates or any other source, will help in finalizing […]
The Swiss financial regulator, FINMA, has stated that allowing troubled lender Credit Suisse to go bankrupt would have had severe consequences for Switzerland’s economy and financial center. According to FINMA, the bankruptcy would likely have led to deposit runs at other banks. Instead, FINMA and the Swiss central bank facilitated the takeover of Credit Suisse […]
Pakistan’s Finance Minister Ishaq Dar is scheduled to lead a high-level delegation to the United States to attend the annual spring meeting of the International Monetary Fund (IMF) and the World Bank. The primary objective of the delegation is to negotiate a $1.1 billion bailout for Pakistan with the IMF and present fresh proposals for […]
Haydock Finance, a UK-based business finance provider, has recently deployed Flex, a cloud-based and API-first calculation engine developed by NETSOL Technologies. Flex was launched as the first product of ‘Appex Now’, the first marketplace developed specifically for the global credit, finance, and leasing industry by NETSOL. Haydock Finance decided to deploy Flex to support its […]
Recent concerns have been raised by regulators regarding potential risks posed to traditional financial services (TradFi) by decentralized finance (DeFi). Such apprehensions have been amplified by events like the collapse of algorithmic stablecoin terraUST and the failure of FTX crypto exchange in 2022. Though the spillover effects on established financial institutions were limited, they have […]