-
October 2022, Pakistani remittances decrease by 15.7%
In October 2022, Pakistani remittances decrease by 15.7%. It was reported that according to data released by the State Bank of Pakistan (SBP) on Friday, the amount of worker remittances received decreased by 15.7% in October 2022 compared to the same month in the previous year.
-
Pakistani business confidence plummets, according to a Poll
Pakistani business confidence plummets, according to a Poll. It was reported that according to a Gallup Pakistan survey performed in the current quarter of 2022, business owners are becoming more gloomy about the state of their enterprises as a result of the political and economic circumstances in the nation. According to the Gallup Business Confidence…
-
US Fed Raises Interest Rates
The U.S. Federal Reserve again raised interest rates, but this time by 75 basis points or 0.75%. This took the Federal Fund rate range from 3% – 3.25% to 3.75% – 4% – the last time such levels were seen was in 2008. Future rate increases are expected to be less in quantum. This…
-
Pakistan will receive $1.5 billion in funding, by Asian Development Bank.
Pakistan will receive $1.5 billion in funding, by Asian Development Bank. It was reported that on October 21, 2022, the Asian Development Bank (ADB) authorized a US$ 1.5 billion loan to Pakistan to help with social protection, food security, and employment support. Inflation, terrible floods, and messed-up global supply chains have all had an effect…
-
Pakistan Exists FATF Grey List
After 4 years, Pakistan has successfully existed the FATF Grey List and entered the White List. Pakistan built up its Technical and Diplomatic efforts and capacities in resolving this problem. All of FATF’s requirements were met a few months ago, and a final on site assessment was done. It is worthy of mention…
-
Eurozone Inflation Rises to Double Digits
Eurozone inflation rose to just shy double digits in the years 2021 – 2022. Post COVID inflation coupled with supply issues in essentials caused by the Russian – Ukrainian war has added to this issue.
-
Pakistan Textile Exports for Q1 Rise 4%
Pakistan’s textile exports for the 1st Quarter of FY23 experienced a growth of 3.7% to touch $4.58 billion (last: $4.42 billion). Total exports increased 2.6% to touch $7.18 billion (last: $7 billion).
-
WEO October 2022 Economic Outlook Report, “Confronting the Cost of Living Crisis”
WEO October 2022 Economic Outlook Report, “Confronting the Cost of Living Crisis” It was reported that with inflation higher than it has been in several decades, the global economy is slowing down broadly and more sharply than predicted. Russia’s invasion of Ukraine, the rising cost of living, tightening financial conditions in most areas, and the…
-
World Bank: Pakistan’s economy is contracting as prices are rising.
World Bank: In the wake of catastrophic flooding, Pakistan’s economy is contracting as prices are rising. It was reported that in the current fiscal year, which ends in June 2023, Pakistan’s economy is predicted to rise by just 2%. The slower growth will be driven by damages and disruptions brought on by catastrophic floods, a…
-
September 2022, the overall inflation rate in Pakistan rises by 23.2%.
It was reported that in September 2022, the overall inflation rate in Pakistan rises by 23.2%. In comparison to the previous month’s increase of 27.3% and September 2021’s increase of 9.0%, Pakistan’s headline inflation based on the Consumer Price Index (CPI) jumped to 23.2% in September 2022. According to information made available by the Pakistan…
-
US Federal Reserve raises interest rates to highest level since 2008
It was reported that US Federal Reserve raises interest rates to the highest level since 2008. The announcement raises fears that the effort to control the US’s extraordinarily high inflation rate could send the country into recession. Due to the Fed’s action on Wednesday, the benchmark short-term rate, which affects many consumer and commercial loans,…
-
Corporate Profits Increase by 22% to Rs1 trillion
It was reported that Corporate Profits Increase by 22% to Rs1 trillion despite the fact that one-third of Pakistan is submerged, the country’s blue-chip corporations are still making money. The largest publicly traded firms’ net profits increased by 22% to more than Rs1 trillion annually in 2021–2022.
