Stories from Salman Siddiqui
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SBP jacks up policy rate by 100bps to 22%
MPC notes potential upside risks to inflation outlook have increased from last meeting on June 12
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PSX spikes in renewed hopes of IMF revival
Stock market surges by 2.5% after the government made IMF-recommended amendments to the budget
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SBP lifts import ban amid IMF pressures
Businesspeople predict restrictions will remain in place due to low forex
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Cybersecurity breach at NIFT puts national security at risk
Negligence and system failure expose 67.5 million customers’ data
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Cybersecurity breach at NIFT puts national security at risk
Negligence and system failure expose 67.5 million customers’ data
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Banks allow unauthorised apps to provide services
Unlicensed digital lending apps pose threat to bank depositors’ money
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To appease IMF, exchange rate gap slashed further
Spread between inter-bank, retail markets narrows to Rs5 to a dollar
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Default risk up as bond yields soar
Yield on 10-year bond maturing in April 2024 spikes to record 119.5%
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Govt to raise Rs670b via Sukuk in 3 months
Aims to convert banking system to Shariah-based within five years
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Hascol okays due diligence by Taj Gasoline
For the acquisition of a 41% stake with management control for investor, Taj Gasoline