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World Bank

WB approves $300mn for Pakistan’s Natural Disasters, Solid Waste Management

These investments will bolster Pakistan’s efforts to build resilience to natural hazards such as floods and droughts in the Sindh province, and will strengthen solid waste management in Karachi.

Published 09 Dec, 2020 03:05pm

Pakistan

Pakistan among top five with most investment in H1 of 2020: WB

"Pakistan had the fourth highest investment commitments--a new entrant to the top five countries this year—with US$1.9 billion of investment commitments, accounting for 0.69 percent of GDP," the Private Participation in Infrastructure (PPI) 2020 Half Yearly Report said.

Published 08 Dec, 2020 06:51pm

World

World Bank sees strong Philippine economic rebound, COVID-19 resurgence a risk

While the World Bank's revised forecast was worse than its previous estimate of a decline of 6.9%, it was slightly better than the government's forecast of an 8.5%-9.5% GDP drop this year.

Published 08 Dec, 2020 01:10pm

Business & Finance

Pakistan among Top Five countries with highest investment commitments: WB Report

Pakistan had the fourth-highest investment commitments—a new entrant to the top five countries this year—with $1.9 billion of investment commitments, accounting for 0.69 percent of its GDP.

Published 05 Dec, 2020 11:02am

Business & Finance

Lebanon plunged into 'deliberate depression': World Bank

"This is imperative to restore the confidence of the people of Lebanon," he said.

Published 01 Dec, 2020 04:32pm

Business & Finance

Former World Bank chief and 'voice for the poor' Wolfensohn dies aged 86

In 1979, he helped orchestrate the rescue of Chrysler Corp from the verge of bankruptcy, together with Chrysler’s chief executive Lee Iacocca and Paul Volcker, who was then president of the New York Federal Reserve.

Published 26 Nov, 2020 10:39am

World

World Bank warns G20 against doing too little to tackle debt problems

Malpass said he was pleased by progress made by the Group of 20 major economies on increasing debt transparency and providing debt relief to the poorest countries.
Debt reduction and transparency will enable productive investment, a key to achieving an earlier, stronger and more lasting recovery.

Published 22 Nov, 2020 12:48am

Business & Finance

WB urges Pakistan to expand investment in Solar & Wind Energy

WB study was of the view that Pakistan has tremendous potential to generate solar and wind power; utilizing just 0.071 percent of the country’s area for solar photovoltaic (solar PV) power generation would meet Pakistan’s current electricity demand.

Published 10 Nov, 2020 12:59pm

Pakistan

930,000 students may not be returning to schools in Pakistan due to COVID-19: WB

World Bank (WB) says that Pakistan is globally the country where they expect the highest dropouts due to the coronavirus crisis.

Published 23 Oct, 2020 01:43pm

World Bank approves $304mn for Punjab's 'PRIDE' program

The program supports efficiencies in public resource management that generate savings and create fiscal space for growth-generating investments in the Punjab province.

Published 23 Oct, 2020 12:47pm

Business & Finance

World Bank should keep pumping out aid, review capital adequacy - Development Committee

In a communique, the joint World Bank and International Monetary Fund Development Committee said the “bold and decisive” response should be accompanied by a review of the World Bank Group’s financial capacity beyond the current fiscal year to ensure that it remains “adequately capitalized to fulfill its mandate.”

Published 17 Oct, 2020 10:17am

World

World Bank should keep pumping out aid, review capital adequacy: Development Committee

IMF has provided some $100 billion in assistance to over 80 countries during the pandemic so far.
The World Bank shareholders in 2018 approved a $13 billion capital increase that mandated the bank wind down lending to wealthier middle-income countries.

Published 17 Oct, 2020 12:20am

Pakistan

WB to provide US $1.15 billion for two KP power projects; PM witnesses signing of agreements

Prime Minister Imran Khan on Thursday witnessed the signing ceremony of two financing agreements worth US $ 1,150 million with the World Bank.

Published 15 Oct, 2020 09:18pm

World

IMF, World Bank marshall forces to push for aid for poorest

Despite a 5.2 percent recovery forecast for 2021, the world economy is expected to lose $28 trillion in output in the next five years.

Published 15 Oct, 2020 02:34am

Business & Finance

WB approves $12 billion for COVID-19 vaccines, treatments in developing countries

The financing plan, part of $160 billion in total resources that the multilateral development lender has pledged to provide to developing countries through June 2021 to help them fight the coronavirus pandemic.

Published 14 Oct, 2020 11:58am

World

Debt of poorest countries hit record $744bn in 2019: World Bank

China is the largest creditor, seeing its share of debt owed to all G20 countries rise to 63 percent by the end of last year from 45 percent in 2013.

Published 13 Oct, 2020 02:52am

World

World Bank's Malpass says G20 may agree to only 6-month debt relief extension

Malpass, speaking to reporters as the World Bank's and International Monetary Fund's virtual annual meetings get underway.
"I think there may be compromise language that may be a six month extension (and) that it can be renewed depending on debt sustainability," Malpass said.

Published 13 Oct, 2020 12:50am

Pakistan economic growth to remain below potential, at 0.5pc for FY21: WB

WB said that the country’s economic growth is projected to remain below potential, at 0.5pc for FY21 compared to over 4pc annual average in the previous three years to FY2019.

Updated 08 Oct, 2020 04:19pm

Business & Finance

South Asia set to plunge into worst-ever recession as COVID-19 takes toll, warns WB

WB forecasts a sharper than expected economic slump across the region, with regional growth expected to contract by 7.7 percent in 2020, after topping 6 percent annually in the past five years.

Published 08 Oct, 2020 02:08pm

World

Pandemic could push 115mn into extreme poverty in 2020: World Bank

And climate change will drive 68 million to 135 million into poverty by 2030, with Sub-Saharan Africa again the most vulnerable.

Published 08 Oct, 2020 02:40am

Business & Finance

WB approves $450mn for Pakistan’s renewable transition

The transition would allow Pakistan to reduce its reliance on fossil fuel imports and lower costs of electricity production.

Published 25 Sep, 2020 12:47pm

Business & Finance

World Bank’s ICSID grants Pakistan stay on $6bn penalty in Reko Diq case

This is a success for Pakistan and its legal team said Attorney General for Pakistan’s office in a statement.

Updated 18 Sep, 2020 04:01pm

Business & Finance

World Bank stresses on improving Karachi's solid waste management system

The WB in a series of tweets stated that in view of the emergency situation and ongoing floods in Karachi, the Sindh government would finance and implement activities through its funds.

Updated 08 Sep, 2020 04:08pm

World

World Bank cancels loan for controversial Lebanon dam

World Bank said it had notified the government that it was withdrawing its financing "due to non-completion of the tasks.

Published 05 Sep, 2020 06:07pm

World

'Wake-up call': World Bank hopes Lebanese blast will spur reform

World Banks calls Beirut blast self-inflicted wound.
Estimates damage will cost billions of dollars to repair.
Says aid will depend on transparency, judicial reform.

Published 31 Aug, 2020 08:49pm

Business & Finance

World Bank says ready to mobilize financing for Lebanon blast recovery

The World Bank said in a statement that it “would be also willing to reprogram existing resources and explore additional financing to support rebuilding lives and livelihoods of people impacted by this disaster.”

Published 06 Aug, 2020 10:42am

World

World Bank's IFC to launch $4bn medical supply financing platform

The International Finance Corp's initiative is largely aimed at private-sector projects to manufacture products such as personal protective equipment.
IFC is contributing $2 billion in internal resources with plans for another $2 billion to come from private-sector partners.

Published 29 Jul, 2020 11:16pm

Markets

Pakistan receives $505mn from WB

The disbursements under the programme will strengthen foreign exchange reserves and provide liquidity for the economy.

Published 28 Jul, 2020 02:08pm

Pakistan

WB, Sindh govt to launch SWEEP project for Karachi

Illango informed that the project is currently being appraised and no funds have been approved or disbursed.

Published 28 Jul, 2020 12:43pm

Markets

Govt signs agreements valuing US$ 750mn with WB, AIIB for RISE programme

The World Bank will extend financing of US$500 million and AIIB will provide co-financing of US$250 million for the RISE programme, said a press release.

Published 23 Jul, 2020 06:22pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / May 17	278.30
USD PKR Interbank Buying / May 17	278.10
USD to Japanese Yen / May 17	155.67
USD to Swiss Franc / May 17	0.91
Pound Sterling to USD / May 17	1.27
Euro to USD / May 17	1.09

Stock	Volume
S&P 500 / May 16	5297.10
Nasdaq / May 16	16698.32
Dow Jones / May 16	39869.38
India Sensex / May 17	73946.83
Tokyo Nikkei / May 17	38787.38
Hang Seng / May 17	19525.75
FTSE 100 / May 17	8430.62
Germany DAX 30 / May 17	18692.83

Item	Value
Petrol/Litre / May 17	273.10
Crude Oil USD/Barrel / May 17	79.59
Karachi Cotton PKR/37.32 KG / May 17	19935
Gold 10 Grams PKR / May 17	210048
Gold Spot USD/Ounce / May 17	2386.18
Diesel/Litre / May 17	274.08

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / May 17 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / May 17 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / May 17 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / May 17 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / May 17 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / May 17 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / May 17 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / May 17 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / May 17 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / May 17 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / May 17 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / May 17 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / May 17 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / May 17 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / May 17 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / May 17 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / May 17 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / May 17 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / May 17 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / May 17 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / May 17 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / May 17 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / May 17 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / May 17 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / May 17 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / May 17 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / May 17 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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