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Pakistan repays $145.7 mln to IMF

Source: Dunya News | 12-02-2013

Pakistan on Monday paid $145.7 million to the International Monetary Fund (IMF) as the ninth repayment installment against the loan obtained under the standby arrangement.

According to the State Bank of Pakistan, additional repayment of $400 million to the IMF is due on February 26.It said Pakistan will have to repay $1.6 billion to the IMF by June 2013. Pakistan had obtained $7.8 billion from the IMF in 2008.

Since the repayments started earlier this year, rupee has been under consistent pressure losing considerable value against the dollar in the inter-bank and open currency markets.

Renault says will cut 7,500 French jobs by 2016

Source: dawn | 16-01-2013

he French auto industry was hit again on Tuesday when Renault said that it planned to cut its staff in the country by 7,500 workers by 2016 to become more competitive and prepare for the hiring of others with specific skills. The company said that it would shed 5,700 jobs through natural attrition, with the balance coming from the extension of an ea..... Read more

Oil down in Asia

Source: Geo News | 20-02-2014

Oil prices fell in Asian trade Thursday after a closely-watched index showed that China´s key manufacturing sector contracted further in February to hit its lowest level in seven months. US benchmark West Texas Intermediate (WTI) for March dropped 17 cents to $103.14 in late morning trade, while Brent North Sea crude eased 56 cents to $109.91 for it..... Read more

Advans allowed to start operations in Sindh

Source: The Nation | 04-01-2013

The State Bank of Pakistan (SBP) has allowed commencement of business to Advans Pakistan Microfinance Bank Limited from January 4, 2013. The Advans Pakistan Microfinance Bank Limited has been licenced to operate in the Province of Sindh. Initially, the bank is starting its operations with one branch at Karachi. With the commencement of business..... Read more

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