Category: Economy

Russian oil to fill supply gap from US sanctions on Iranian crude, raise traffic in Turkish straits

The oil supply shortage in the Mediterranean market, which will emerge once the U.S. sanctions targeting Iranian oil come into force on Nov. 4, is predicted to direct...

Saudi Arabia agrees to give oil to Pakistan on credit

Federal Minister for Petroleum Ghulam Sarwar Khan has confirmed Pakistan’s plan to take oil from Saudi Arabia on credit for five years. Speaking in the National...

France wants to discuss bitcoin at next G20 summit

France wants a discussion of bitcoin at the next G20 meeting with a view to regulating the cryptocurrency, a finance ministry source said Monday, saying the government...

‘Trans-Pacific members aim for good result next week’

TOKYO: Chief negotiators from the 11 nations left in the Trans-Pacific Partnership (TPP) are aiming to have positive results at a ministerial-level meeting next week, a...

Deposits of Islamic banks grow 10 percent

KARACHI: Islamic banks beat their conventional banking counterparts by mobilising deposits at a higher pace in April-June. The State Bank of Pakistan (SBP) issued on...

Shariah compliant segment expected to reach $17.6b

LAHORE: Provincial Minister for finance Dr Ayesha Ghous Pasha said on wednesday that Islamic Banking services in Pakistan will continue to grow, estimating that the...

Islamic finance boom calls for increase in human capital

JEDDAH: In the fast-growing industry of Islamic finance, the lack of specialized, trained human capital in the field continued to be a challenge, said Saudi Arabian...

Dubai businessman Alabbar, Saudi SWF launch $1b e-commerce platform

Prominent Emirati businessman Mohamed Alabbar said on Sunday he had teamed up with Saudi Arabia’s Public Investment Fund (PIF) and other private investors to...

India, Pakistan, Philippines top beneficiaries of global remittances

ISLAMABAD: India, Pakistan, Philippines remain top beneficiaries of money transfers in 2016, according to new World Bank report, however the weak economic growth and low...

Pak issues $1b Sukuk at historic low rate of 5.5pc

ISLAMABAD: Pakistan has successfully issued $1 billion Sukuk at a historic low rate of 5.5 per cent which is better than recent sovereign issuance of bonds by both...