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Plans afoot to expand branchless banking in Pakistan

Plans afoot to expand branchless banking in Pakistan

ISLAMABAD: A strategy has been developed to achieve a manifold surge in mobile-wallets (m-wallet) to over 50 million in next five years. The Branchless Banking (BB) remains an effective channel to expand outreach of unbanked and under-banked people. At present ...

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SBP cuts monetary policy rate to 8pc

SBP cuts monetary policy rate to 8pc

KARACHI: State Bank of Pakistan (SBP) has reduced its policy rate by 50 basis points; from 8.5 percent to 8 percent. The new policy (interest) rate will be effective from March 24, 2015, SBP  announced in its bi-monthly monetary policy ...

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Dollar-euro stable, yen edges higher

Dollar-euro stable, yen edges higher

NEW YORK: Major currencies were little-changed Tuesday with markets poised for key US data to be released in the next three days. But the Chinese yuan slipped further in the wake of the central bank’s interest rate cut on Sunday. ...

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Brent oil prices recoil on oversupply

Brent oil prices recoil on oversupply

LONDON: Brent oil prices sank Monday, after bumper gains before the weekend, as some traders took profits and eyed plentiful crude supplies, analysts said. European benchmark Brent North Sea crude for April delivery dropped $2.11 to $60.47 a barrel in ...

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Asia edges up after China rate cut, euro sags

Asia edges up after China rate cut, euro sags

TOKYO: Asian stocks got off to a steady start on Monday as soft U.S. data was partially offset by a weekend interest rate cut by China, while the dollar hit a five-week high against the euro. MSCI’s broadest index of ...

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Oil seen rising to $64-65 per barrel

Oil seen rising to $64-65 per barrel

BAGHDAD: Iraqi Oil Minister Adel Abdel Mahdi said Sunday he expects the price of crude oil, which dropped to a six-year low in January, to continue recovering to reach $64 or $65 per barrel. “I don’t think they (prices) will ...

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Oil retreats as rising U.S. inventories continue to weigh

Oil retreats as rising U.S. inventories continue to weigh

NEW YORK: Crude oil futures fell sharply on Thursday as rising inventories in the United States pressured both Brent and U.S. contracts and countered expectations for recovering demand. While Brent losses were tempered by those expectations for improving global demand ...

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Oil market rebounds on US energy report

Oil market rebounds on US energy report

NEW YORK: Global oil prices rebounded sharply Wednesday after a mixed US oil inventories report left traders focusing on its positive elements for demand: falling gasoline and distillates stockpiles. New York’s benchmark West Texas Intermediate for April leaped $1.71 to ...

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Euro weakens as wary market watches Greek debt plan

Euro weakens as wary market watches Greek debt plan

NEW YORK: The euro weakened against the dollar Monday as traders waited to see if Greece could complete the agreement reached last week with eurozone partners on its bailout program. Greece’s new anti-austerity government late Monday said it would miss ...

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