Syeda Mubeena Hashmi Posted in Business
ISLAMABAD: Pakistan’s central bank faces a difficult decision on its policy rate amid rising inflation and higher global fuel prices linked to the prolonged Gulf conflict. The current rate stands at 11.5 per cent, with bankers expecting no change while some analysts foresee a 50-basis-point increase. Inflation rose to 11.1pc in August, adding pressure on the State Bank. Read More…
0 CommentsSyeda Mubeena Hashmi Posted in World
Iranian leaders have acknowledged growing economic difficulties linked to the war and US sanctions, while insisting Tehran will not retreat. The government said tackling inflation, stabilising markets, creating jobs and boosting domestic production remained priorities. President Donald Trump’s administration has intensified financial pressure on Iran as negotiations remain stalled. Tehran has also pledged to pursue diplomacy while maintaining control over the Strait of Hormuz, a vital global energy route and key source of Iranian leverage. Read More…
0 CommentsHafsa Mustafa Posted in World
Jamaat-e-Islami (JI) staged nationwide protests on Friday against inflation, higher fuel prices, the petroleum levy, and taxes, with demonstrations, sit-ins, and rallies disrupting traffic on major highways and roads in several cities. In Karachi, the party’s protest led to severe traffic jams and congestion at many places. According to the traffic police spokesperson, traffic pressure was reported on both carriageways between Lasbela Chowk and Numaish Chowrangi, on roads linking Tibet Centre with Numaish Chowrangi, and on both sides of the road between Numaish and Shahrah-e-Quaideen. Read More…
0 CommentsAlina Hashmi Posted in World
The European Central Bank has kept its key interest rate on hold, warning that risks to growth and inflation have “intensified” due to the war. For the 21 countries that use the euro, the central bank left its benchmark deposit rate at 2 percent, where it has been since June 2025. Read More…
0 CommentsAlina Hashmi Posted in World
British retailers reported the sharpest year-on-year decline in sales in more than 40 years as the Iran war raised inflation fears for shoppers, a survey by the Confederation of British Industry (CBI) cited by Reuters shows. The CBI’s monthly retail sales volume measure dropped to -68 in April from -52 in March, its lowest reading since starting in 1983. Expectations for May also darkened, dropping to -60 from -49, the gloomiest outlook since March 2021 during the COVID-19 pandemic. “With the economic impact of the Iran conflict becoming clearer, firms… Read More…
0 CommentsHafsa Mustafa Posted in Business
The State Bank of Pakistan (SBP) on Monday slashed the key policy rate by 50 basis points to 10.5% in a surprise move despite food-led inflation pressures and external considerations. In the last four monetary policy meetings, the central bank had observed the status quo. The last cut of 100 bps was announced after the May 5 meeting, reducing the policy rate to 11%. Read More…
0 CommentsAlina Hashmi Posted in World
Local businesses in the US are likely to take a hit from the taxes Trump imposed on its three biggest trading partners. The Penny Ice Creamery in Santa Cruz, California, has had to hike the prices of its ice cream repeatedly in recent years amid an inflationary surge. “I feel bad about always having to raise prices,’’ co-owner Zach Davis told the AP. “We were looking forward to inflation coming down, the economy stabilising in 2025 … Now with the tariffs, we may be back at it again,” he added. Read More…
0 CommentsHafsa Mustafa Posted in Politics
Defense Minister Khawaja Asif said in an interview on Tuesday, due to the financial strain caused by the rising dollar rate and current inflation, the defense budget needs to be increased. During an interview with foreign media, Asif emphasized that the depreciation of the rupee against the dollar significantly impacts the defense budget which is in PKR, however, there will be necessity to increase the budget to recover the loss. Read More…
0 CommentsHafsa Mustafa Posted in Politics
Prime Minister (PM) Shehbaz Sharif said that the inflation rate reduced to 17 percent from 39 percent during the last two years, terming it better economic indicators. In a statement issued here, the prime minister said that the recent decrease in inflation is good news for the people. “Decrease in inflation is a result of the hard work of sixteen-month previous government and the caretaker setup that continued the efforts initiated by the government,” he added. Read More…
0 CommentsHafsa Mustafa Posted in Business
Traders in Karachi have termed the Eid-ul-Fitr season of 2024 as the most disappointing year in the city’s 75-year history, blaming the rocketry inflation for a significant decline in their business. Chairman of the All Karachi Tajir Ittehad Atiq Mir said that despite the bustling market activity, the level of shopping remained limited to a mere 40 percent of what was anticipated. He said that Eid-ul-Fitr season 2024 remained more ‘disappointing’ for the traders as compared to the previous year. Read More…
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