aylesbury - The Group of Seven advanced economies smoothed over US-European differences at a weekend meeting on how to balance deep austerity measures with ways to support fragile growth.G7 finance ministers and central bank governors also pledged Saturday their commitment to tackling tax evasion ...

AYLESBURY - The United States told Japan it would be watching for any sign it was manipulating its currency downward, but Tokyo said it met no resistance to its policies at a meeting of Group of Seven finance ministers which will conclude on Saturday.As ministers and central bankers met on Friday ...

karachi - A bilateral Currency Swap Arrangement (CSA) between the State Bank of Pakistan (SBP) and the People’s Bank of China (PBoC) amounting to Chinese Yuan (CNY) 10 billion and Rs 140 billion is being implemented from Tuesday after issuance of necessary instructions to banks and completion ...

manila - bloomberg - The Philippine central bank is considering adjusting so-called special deposit accounts in an effort to manage costs so it has room to cool currency gains. “We would like to consider ways to make the SDA function more as a monetary instrument rather than an investment ...

At least three trading patterns show Thailand’s baht, this year’s best-performing Asian currency, is poised to fall as policy makers step up warnings that its rally to a 16-year high is stretched. The baht’s 2 percent advance this month pushed the 14-day relative strength ...

LONDON (AFP): British finance minister George Osborne cast doubt Sunday on whether Scotland could keep the pound as its currency if voters opt for independence in a referendum next year.The Chancellor of the Exchequer said a currency union could only work as part of a political and economic union, ...

BEIJING (Reuters) - France intends to set up a currency swap line with China to make Paris a major offshore yuan trading hub in Europe, competing against London, the China Daily on Saturday cited Bank of France Governor Christian Noyer as saying.Yuan deposits in Paris amount to 10 billion yuan ...

ISLAMABAD - Circulation of fake currency notes valuing Rs 1,000 is continuing unchecked in Karachi company market.  Inflow of these fake notes make rapid way in rush hours particularly in the evening time when all the shops are thronged by the consumers. The cloth shops are the easy targets of ...

LAHORE - Banks are no more opening letter of credits (LCs) for export of goods, including rice, to Iran but India is having no such issue and continues to have good trade ties with Iran at state level despite US opposition. Resultantly, Pakistan and Iran official trade is at halt since United ...

RAWALPINDI - The custom intelligence department has arrested an accused that was trying to smuggle Pakistani currency amounting to Rs 160 million to Dubai. A passenger namely Jamshaid, resident of Peshawar, was arrested at Benazir Bhutto International Airport by custom intelligence when he was ...

The Federal Finance Ministry has said that over Rs1.167 trillion worth of currency notes were printed during the four years of the present government.The Finance Ministry in a written reply to a question in the National Assembly Friday said that over Rs1.167 trillion worth of currency notes were ...

KARACHI - Union of Small and Medium Enterprises has urged the Governor SBP for currency swap arrangements to promote trade between all ECO countries, Afghanistan, Iran Azerbaijan, Kazakhstan, Kyrgyzstan Republic, Tajikistan, Turkmenistan and Uzbekistan by entering into currency swap agreements ...

LAHORE :A total of Rs 1,763.543 billion currency notes are in circulation throughout the country, says a SBP report. According to the report for the week ending on January 13, the total number of notes issued were Rs 1,763,739,915,000. The notes held in the banking department amounted to Rs. ...

TEHRAN - Iran’s currency, the rial, slumped 12 percent in street trading Monday, accelerating a slide triggered on the weekend when the United States activated new sanctions over Tehran’s nuclear drive.The rial was being exchanged for 17,800 to the dollar late Monday. Before US ...

OUR STAFF REPORTER SIALKOT - Two dacoits looted Rs0.3 million from a private currency exchange after injuring two security guards here at Bano Bazaar on Thursday. Reportedly, two armed accused stormed into a private currency exchange and made hostage all the people present there at gunpoint during ...

KARACHI - The rupees downward rally has continued in inter-bank as it fall five straight days against dollar to close at Rs89.40 on Friday. The greenbacks demand surging on high import payment. The rupee was traded at 89.02 and there are some (import) payments of about $50 million to $60 million ...

Our Staff Reporter MIANWALI - The local police, on a tip-off, have recovered counterfeit Pakistani and foreign currency, weapons, drugs and liquor here. The search operation was conducted by CIA DSP Ghulam Muhammad at a "Dera" of Naeemullah in the remit of Mochh Police. The police recovered a ...

ISLAMABAD - President Asif Ali Zardari Thursday emphasised upon the early finalisation of the currency swap agreement between Pakistan and China saying that such arrangements should also be made with Turkey and Sri Lanka to promote and facilitate bilateral trade with these countries. The President ...

WASHINGTON (AFP) - Currency wars, exchange-rate tensions between the United States and China and uncertainty over the euros future highlight a widening gap between the struggling developed economies and fast-growing emerging champions. Were in the midst of an international currency war, a ...

GYEONGJU, South Korea (AFP) - The United States urged G20 nations to reform their currency regimes to shore up the fragile world economy after a devastating crisis, but faced resistance to its ideas Friday. G20 finance ministers and central bankers opened a two-day meeting in South Korea, stalked ...

YALTA, Ukraine (AFP) - The IMFs managing director on Saturday urged major economies to cooperate to prevent global currency war which would risk impeding the recovery from the economic crisis. Dominique Strauss-Kahn said at an economic conference in the Crimean Black Sea resort of Yalta that a ...

WASHINGTON (AFP) - The US Treasury avoided labelling China a currency manipulator in a much delayed report to Congress Thursday but maintained that the yuan was undervalued. Three weeks after the Chinese central bank vowed to loosen its currency controls amid mounting international pressure, the US ...

BEIJING (AFP) - Chinas central bank said Saturday it would further promote reform of its exchange rate mechanism, which analysts said indicated Beijing was ready to scrap the dollar peg and allow the yuan to rise. However, the Peoples Bank of China said there were no grounds for large swings in the ...

WASHINGTON (AFP) - Chinas refusal to revalue its currency is impeding global economic reforms, US Treasury Secretary Timothy Geithner said Thursday amid pressure from Congress to impose sanctions on the Asian giant. The distortions caused by Chinas exchange rate spread far beyond Chinas borders and ...

WASHINGTON (AFP) - China has cut its massive US Treasury bond holdings to the lowest level in at least nine months, data showed Thursday as Beijing resisted persistent US pressure to revalue its currency. Beijing sliced its holdings to 877.5 billion dollars in February, down 11.5 billion dollars ...

QUETTA (APP) - Former federal finance minister Shaukat Tarin on Monday said that the present government has successfully overcome the serious financial and economic problems which it inherited from the previous regime. Addressing the luncheon arranged by Balochistan Finance Minister Mir Asim Kurd ...

SEOUL (AFP) - East Asian nations Wednesday officially launched a 120-billion-dollar regional currency swap agreement, giving them a safety net against future liquidity shortages. The Chiang Mai Initiative Multilateralisation (CMIM) covers South Korea, China, Japan and the 10-member Association of ...

CARACAS (AFP) - Venezuelan President Hugo Chavez devalued the bolivar for the first time since 2005, creating a dual foreign currency system. The move will favour some sectors of the economy the government considers priorities, with the bolivar pegged at 2.6 per dollar, down from 2.15 per dollar. ...

KARACHI (APP) - The SBP has allowed microfinance banks/ institutions (MFB/Is) to raise foreign currency loans from int'l financial institutions/ donor agencies so that they are able to meet their funding requirements. According to a Circular (FE Circular No. 8) issued here on Wednesday, the ...

SINGAPORE (AFP) - Asia-Pacific ministers representing 2.6 billion people pledged to pursue a vast free-trade zone Thursday, but faced more pressing tensions over the US and Chinese currencies at annual talks. Ahead of a weekend summit to be joined by US President Barack Obama, the 21-member ...