Govt expected to take $9.69bn loan in FY2018-19
It is likely that the government might take a loan of $9.69 billion during the fiscal year 2018-19. According to the Economic Affairs Division (EAD), the government can issue euros and sukuk…
Brazil faces Euro resistance on road to redemption in Russia
MADRID: A rejuvenated Brazil looking to heal the wounds of home soil humiliation four years ago will lead the South American charge for the World Cup in 2018, but a slew of…
British Pound falls vs Euro, Dollar as threat of further cuts looms
Pound sterling was notably lower on Tuesday as the Bank of England commenced its quantitative easing programme. Investors rushed to sell bonds to the Bank of England on Monday after it revived…
Messi fires Argentina into Copa America final
Lionel Messi was too much for the United States to contain. The five-time world player of the year set up Ezequiel Lavezzi’s opening goal in the third minute, then scored on a…
Euro sinks as safe havens rally after Paris attacks
The euro fell against its major peers in Asia Monday as dealers shifted back to safer investments after the deadly weekend terror attacks in Paris reinforced concerns about the impact on the…
All eyes on ECB after Greek ‘No’ vote
All eyes were on the European Central Bank (ECB) on Monday following the resounding ‘No’ in the Greek referendum, with the ECB seen as the only institution capable of calming market panic and preventing the Greek economy from collapsing.
Greece votes in referendum with future in euro in doubt
Greeks started casting ballots early Sunday in the closely watched bailout referendum, with opinion polls showing people evenly split on whether to accept creditors’ proposals for more austerity in exchange for rescue…
Germany, Pakistan sign 102.5m euro agreement
Pakistan and Germany Friday finalised the bi-annual government to government negotiations for calendar year 2013 and signed Eruo 102.5 million agreement for executing various new and existing projects in education, energy, governance…
Pakistan approves tax break for refineries to produce Euro 2-compliant gas oil
Pakistan has approved raising the tax break offered to refiners on high speed diesel to 9% from 7.5%, to help them recover the cost of upgrading their plants to produce Euro 2-compliant…
Draghi concerned over euro
European Central Bank (ECB) president Mario Draghi signalled on Thursday that policy makers were concerned the euro’s advance could hamper an economic recovery. “The exchange rate is not a policy target, but…
Euro surges to 14-month high, Fed decision awaited
The euro hit its highest level in over a year on Wednesday and shares, oil and metals were also on the rise, as confidence in the global economic outlook strengthened ahead of…
Pakistan to get 42m Euro aid from EU
India will continue to be a focus of the European Community’s humanitarian assistance in 2013, but five major global hotspots of crises, including Pakistan, will receive the largest chunk of over 661…
The euro zone’s delayed reckoning
The risks facing the euro zone have been reduced since the summer, when a Greek exit looked imminent and borrowing costs for Spain and Italy reached new and unsustainable heights. But, while…
Global shares fall on US fiscal worry; oil up on China
China’s vast manufacturing sector expanded in early December at the fastest pace in 14 months as new orders and employment rose, a survey showed, adding to evidence of a pick-up in the…
Dollar climbs vs euro on US jobs data; Fed eyed
The dollar had soared immediately after the headline data for November stoked speculation that the U.S. central bank may opt for a smaller stimulus program. But it pared gains against the euro…
Asian markets extend gains, euro rebounds
Asian markets climbed Friday, following a positive lead from Wall Street, while the euro retraced some of its losses made in New York after the ECB cut its growth forecast for the…
Wall St rallies on fiscal hopes, Spain hits euro
US stocks rose on Wednesday after President Barack Obama said a deal to avert the looming fiscal cliff was possible within a week, while the euro slipped after a disappointing Spanish bond…