Australia’s NAB cuts fixed-loan rates ahead of expected central bank move

SYDNEY: National Australia Bank, the country?s fourth-largest lender, on Thursday raced to offer discounts on some of its fixed-rate mortgages in anticipation of a rate cut by the central bank next week. The country?s ?Big Four? banks, who control about 80 percent of the mortgage market, have all recently cut fixed rates as a cheaper way to lure new ...

Vietnam central bank says not pursuing ‘unhealthy competitive advantage’ in trade

HANOI: The State Bank of Vietnam, the central bank, said on Thursday it is not pursuing an ?unhealthy competitive advantage? in international trade after the Trump administration raised concern over currency practices this week. Last week, the central bank said it was ready to pump US dollars into the market to stabilise the dong currency?s exchange rate, as it ...

Bank of England’s Ramsden sees slower growth than BoE forecast

Even if Brexit does go smoothly, it would be unlikely to dispel all business uncertainty, he said, so investment might pick up less than the BoE had forecast, hurting short-run growth and the economy?s longer-run productive capacity.

Russia’s VTB posts 16pc fall in first quarter profit

MOSCOW: Russia’s second-largest lender VTB’s net profit fell 16pc in the first quarter, hit by a drop in net interest and operating incomes, the bank said on Thursday. State-owned VTB reported profit of 46.5 billion roubles ($714.83 million) over the January-March period compared with 55.5 billion roubles in the same period a year ago. The bank’s net interest income declined 10pc to ...

Russia central bank, ahead of board meeting, says rate cut possible in Q2-Q3

MOSCOW: Russian central bank Governor Elvira Nabiullina said on Thursday a cut to the key interest rate was still possible in the second or third quarter of 2019. The central bank, which will next meet on rates on June 14, has continued the policy of diversifying its international reserves, Nabiullina told the lower house of parliament. Nabiullina also said that the central ...

Turkish central bank net international reserves at $26.52bn as of May 24

ISTANBUL: Turkish central bank?s net international reserves stood at 162.43 billion lira ($26.52 billion) as of May 24, data showed on Thursday.

Pakistan's Exports Increased In Quantitative Term: Dawood

ISLAMABAD, (UrduPoint / Pakistan Point News - 30th May, 2019 ) :Pakistan's garments, knitwear, cement, , footwear increased in term of quantity, however due to global decline in prices, the in term could not go up and remained stagnant at the previous year's level.

US Economic Growth Revised Down To 3.1% In Q1

1 percent, one tenth lower than reported last month, as American companies spent less on equipment and software but rose and consumers bought more than previously thought, according to the Department.

OPEC, OPEC-Non-OPEC Meetings May Take Place In Early July - Azerbaijani Energy Ministry

In , OPEC and a number of non-cartel producers agreed to cut production by 1.8 barrels per day. In early , the signatories to the deal agreed to reduce overall production by 1.2 barrels per day starting . Under the new , OPEC members will reduce their output by 800,000 barrels per day, ...

Pakistan Mercantile Exchange Limited Index Closes At 3,833 Points 30 May 2019

The traded value of metals, energy and COTS/FX was recorded at Rs 12.198 and the number of lots traded was 14,281, said a press release on Thursday. 866 , followed by currencies through COTS Rs 3.300 , DJ Rs 1.903 ), Rs 1.465 , WTI crude Rs 1.240 , platinum Rs 152.042 , Rs 106.058 ...

Mix Trend At Pakistan Stock Exchange

During the peek trading hours, KSE-100 index crossed 36,000 barrier. 199 shares of 310 companies were traded over the day, with trade value of Rs 8,936 . The current capital was Rs 7,240 billion; with net improvement of Rs 15.106 , said a report.

Currency rates in Pakistan - 30 May 2019

KARACHI (Dunya News) - Currency rates in open market in Pakistan according to international currencies as of 30 May 2019. The price of 1 USD to PKR buying is Rs148.80 and selling of US Dollar is Rs149.30. British Pound (GBP) to PKR buying is Rs188.00 and selling is Rs190.00. Euro to PKR buying is Rs165.00 and selling is Rs167.00. Saudi Riyal to ...

Brazil Economy Shrinks 0.2 Percent In First Quarter: Official

Gross domestic product contracted 0.2 percent the previous quarter, the statistics agency said, marking the first decline in the key gauge of economic activity since the end of .

Kenyan bank KCB wins shareholder backing for NBK takeover

NAIROBI: Kenya?s biggest lender by assets KCB Group on Thursday won shareholder approval for its proposed takeover of National Bank of Kenya in a 10-for-1 share swap transaction. KCB, which also operates in Uganda, Tanzania, Rwanda, Burundi and South Sudan, made the takeover offer last month, joining a wave of consolidation in Kenya?s banking industry. ?The acquisition is an ...

Toyota announces first plant in Myanmar

TOKYO: Japanese automaker Toyota said Thursday it will open its first vehicle production plant in Myanmar, as the country?s auto market grows and the government raises import barriers.

UK car output crashes on Brexit-induced shutdowns

?The shift in shutdown ? was part of a raft of costly and ongoing contingency measures, including stockpiling, rationalisation, training for new customs procedures and rerouting of logistics ? all designed to try to protect business when the UK leaves the customs union and single market.? A ?favourable? Brexit deal would ensure that the decline in production would ease towards ...

ECC approves establishment of Stock Market Support Fund

ISLAMABAD (Dunya News) ? Economic Coordination Committee (ECC) of the Cabinet on Thursday has given approval for Stock Market Support Fund, Duna News reported. According to Dunya News, State Enterprises Fund and Equity Market Fund would be established to support market, while the National Investment Trust would manage the funds. Sources said that the market support funds have been ...

Gazprom First-quarter Profit Jumps By 44%

Moscow, (UrduPoint / Pakistan Point News - 30th May, 2019 ) : energy giant Gazprom on Thursday reported a 44-percent jump in first-quarter net profit, driven by a rise in the value of exported .

Currency Rate in Pakistan: US Dollar, UK Pound, Saudi Riyal, UAE Dirham - 30 May 2019

European Stock Markets Recover

London, (UrduPoint / Pakistan Point News - 30th May, 2019 ) :European stock recovered slightly on Thursday, despite ratcheting up its rhetoric against as the US-China trade war rattles on. "European have surprisingly managed to shake off a weak close on Wall Street Wednesday where indices dropped to their lowest level in ten weeks on ...