Banks’ advances jumped 16 per cent year-on-year in October while it increased by 12pc month-on-month, reflecting the banks’ efforts to increase the advance-to-deposit ratio (ADR) to avoid tax. The latest data provided by the State Bank on Monday showed that the total bank advances increased 15.8pc to Rs13.8 trillion in October compared to Rs11.9tr in the same month last year. The data furth
The US will launch on Monday its third crackdown in three years on China’s semiconductor industry, curbing exports to 140 companies including chip equipment maker Naura Technology Group, among other moves, said two people familiar with the matter. The effort to hobble Beijing’s chipmaking ambitions will also hit Chinese chip toolmakers Piotech and SiCarrier Technology with new export restrictio
Pakistan’s annual consumer price index inflation rate was 4.9 per cent in November, data from the Pakistan Bureau of Statistics (PBS) showed on Monday. The reading reinforced months of easing inflation — which hit a historic high of 38pc last year — ahead of a meeting of the State Bank of Pakistan (SBP)’s Monetary Policy Committee meeting on December 16 to review the policy rate, which stands a
The constitutional bench on Monday admitted for hearing a set of petitions seeking Supreme Court’s declaration that power supply on a least-cost basis to citizens was the federal government’s responsibility under Article 9. The six-member bench, headed by Justice Aminuddin Khan, ordered the removal of objections raised by the registrar’s office to the petitions and issued notices to the attorne
The Pakistan-China border post on Khunjerab Pass opened for year-round trade and travel for the first time on Monday, with 40 Chinese containers loaded with goods and a bus carrying four passengers arriving at Sost (Pakistan) from Xinjiang on Monday. A bus carrying five passengers left Sost for the Chinese region on the same day. The locals welcomed the arrival of a bus and goods from China