27 January 2015

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Banks asked to increase private sector lending

Banks asked to increase private sector lending KARACHI: Governor State Bank Ashraf Mahmood Wathra has stressed upon the banks to focus on private sector lending and deposit mobilization.In this context he said that the average spread of all banks continue to remain high and should be reasonably rationalized. “SBP shall review the position by the end of June 2015 and may take regulatory measures to lower the spread,” he added.He was addressing a meeting of Presidents/CEOs of all commercial Banks and DFIs at SBP Head

UK economy grows by 2.6% in 2014, 0.5% in Q4

London Britain s economy grew by 2.6 percent last year in the fastest annual pace since 2007, but slowed more sharply than expected in the fourth quarter, official data showed Tuesday.Gross domestic product expanded by 0.5 percent in the October-December period compared with the previous three months, after stronger growth of 0.7 percent in the third quarter, the Office for National Statistics (ONS) said in a statement.

Euro maintains gains, Asia stocks advance

HONG KONG: The euro extended its gains against the dollar Tuesday while Asian equities climbed on hopes Greece’s new government will be able to negotiate a bailout deal with the EU and IMF that will avoid it leaving the euro zone.Regional investors took their lead from advances in Europe and New York, where news of Sunday’s Greek election win for anti austerity party Syriza had been largely factored in, analysts said.Tokyo jumped 1.44 percent by lunch, Sydney added 0.67

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