bank - Pakistan affairs

Will Saudi Arabia deposit $2bn in Pakistan’s central bank within 7 working days?

Saudi Arabia will deposit $2 billion into Pakistan’s State Bank account within the next week. This was confirmed by the Saudi Ambassador to Pakistan during a meeting with a special assistant to the Prime Minister. The ambassador also mentioned that Saudi Arabia is committed to long-term investments in Pakistan, with plans to invest $10 billion […]

By hassani

April 15, 2023April 15, 2023

Economy PakistanNews

Will Saudi Arabia deposit $2bn in Pakistan’s central bank within 7 working days?

Saudi Arabia will deposit $2 billion into the State Bank of Pakistan’s account within the next seven working days. This was confirmed by the Saudi Ambassador to Pakistan during a meeting with a Special Assistant to the Prime Minister in Islamabad. The ambassador said that Saudi Arabia is committed to building long-term, sustainable investment transactions […]

By hassani

April 15, 2023April 15, 2023

News

Does the yen decrease as the new Bank of Japan governor continues with ultra-loose policy?

The yen fell after new Bank of Japan (BoJ) governor Kazuo Ueda said he would continue the ultra-loose monetary policy of his predecessor. Ueda, the first academic to lead the BoJ, stated that negative interest rates and yield curve control are still appropriate for Japan’s current economic conditions. This comes as investors expected Ueda to […]

By hassani

April 11, 2023April 11, 2023

News

“Is Ueda the first postwar Bank of Japan governor from academia?”

Kazuo Ueda has started his five-year term as governor of the Bank of Japan. He will be responsible for maintaining the bank’s 2% inflation target and planning an eventual exit. Ueda is the first governor from academia in postwar Japan. He faces pressure to change the bank’s program to keep borrowing costs low, which was […]

By hassani

April 9, 2023April 9, 2023

Economy

Who is the former Brazilian president named as the head of the China-based New Development Bank?

The New Development Bank (NDB) has announced Dilma Rousseff as its new president. The NDB is based in Shanghai and supports economic development in the BRICS nations: Brazil, Russia, India, China, and South Africa. Rousseff will work in Shanghai and earn about $57,000 per month. She will be president until July 2025. Rousseff was Brazil’s […]

By hassani

April 7, 2023April 7, 2023

Economy

Central Bank warns that Israel’s political crisis may result in a 2.8% annual decrease in GDP.

The Bank of Israel has warned that the controversy surrounding the Israeli government’s planned overhaul of the judiciary could reduce annual economic output by up to 2.8% over the next three years. Officials have claimed that the reforms, which would limit the powers of the judiciary and give the ruling coalition greater control over the […]

By hassani

April 4, 2023April 4, 2023

Economy

Manulife Bank Allegedly Failed to Safeguard Sensitive Customer Data for Multiple Years, According to Insider | CBC News

An insider at Manulife is alleging major privacy issues within the company’s Canadian banking division that could have put thousands of customers at risk. The insider claims that bank account details and personal information of millions of customers were stored in a database that had few privacy protections and was shared with around 100 employees […]

By hassani

April 3, 2023April 3, 2023

PakistanNews

Ahmad Tariq named president & CEO of Samba Bank.

Samba Bank Limited (SBL), a subsidiary of Saudi Arabia’s SAMBA Financial Group, has appointed Ahmad Tariq Azam as president and CEO. Azam already held the position of acting CEO from last August. SBL confirmed the announcement in a filing to the Pakistan Stock Exchange on 3 May. The appointment is subject to the regulatory approval […]

By hassani

April 3, 2023April 3, 2023

Tech

The World Bank cautions that innovation is being impacted by the decoupling of the US and China.

US-China tensions are threatening innovation and growth in both countries, according to the World Bank’s economic update for Asia. The report found that research and development collaboration and restrictions on tech flows between the two nations could harm knowledge and corporate innovation. Ursula von der Leyen, the European Commission’s president, has called for the EU […]

By hassani

March 31, 2023March 31, 2023

News

Malpass: World Bank to Increase Lending Capacity of IBRD’s Lending Division by Up to $50 Billion.

The World Bank is set to boost the financing capabilities of its middle-income lending arm by up to $50bn over the next ten years in a bid to help countries deal with converging crises, according to World Bank President David Malpass. The boost for the International Bank for Reconstruction and Development would be brought about […]

By hassani

March 31, 2023March 31, 2023