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Posts tagged "fiscal"

Govt brings down fiscal deficit from 8.8% to 5%: Dar

ISLAMABAD: Minister for Finance, Senator Mohammad Ishaq Dar on Friday said the government managed to reduce the fiscal deficit from 8.8 percent in 2013 to 5 percent by increasing revenues and reducing expenditures. Winding up speech on charged expenditures here at National Assembly, Ishaq Dar expressed the hope that the 4.3 percent target of fiscal…

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June 19, 2015

 

SBP sees positive economic developments in 1st half of fiscal year

ISLAMABAD: The State Bank of Pakistan (SBP) on Friday said the economy after facing some difficulties in the initial months of current fiscal year (FY14-15), ended the first half with some positive developments”.' The second quarterly report of the Central Board of Directors of the SBP presented to the Parliament, said, “These positive developments include…

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May 15, 2015

 

U.S. stocks rise before top-level meeting over fiscal impasse

NEW YORK: U.S. stocks rose on Monday, rebounding from losses, as plans for President Barack Obama and Vice President Joe Biden to meet congressional leaders raised hopes a resolution to the fiscal impasse was closer.Obama and Biden were due to meet at 3 p.m. (1900 GMT) with Senate Majority Leader Harry Reid, Senate Republican Leader…

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October 14, 2013

 

U.S. Senate leader 'confident' fiscal crisis can be averted

WASHINGTON: Senate Majority Harry Reid said Sunday that he was engaged in negotiations with Republican Minority Leader Mitch McConnell and was “confident” they could resolve the fiscal crisis confronting Washington.”We're in conversation today,” Reid said on the Senate floor.”I'm confident that Republicans will allow the government to open and extend the ability of this country…

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October 13, 2013

 

IMF says lesson of fiscal crisis is to not cut budgets too quickly

WASHINGTON: Countries looking to get their finances in order should not act too quickly to enact budget cuts, but should weigh investor confidence in their bonds, International Monetary Fund staff said in a wide-ranging paper on Tuesday.Still, the paper, which sums up lessons learned about fiscal policy from the global financial crisis, says the evidence…

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September 17, 2013

 

Sindh presents Rs617 bln budget for fiscal year 2013-14

Staff ReportKARACHI: The Sindh government on Monday presented its budget for the fiscal year 2013-14 having a total outlay of Rs 617 billion.Chief Minister Syed Qaim Ali Shah presented the budget in the Sindh Assembly, presided over by Agha Siraj Durrani. He announced 15 pay raise of government employees from Grade 1-15 and a 10…

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June 17, 2013

 

Economy continues to face fiscal and external challenges, says State Bank

Web DeskKARACHI: The State Bank of Pakistan said on Thursday that key challenges to the macroeconomic management emanated from fiscal as well as external sectors.According to the Third Quarterly Report for FY13 on the State of Economy released on Thursday, the report said after a surplus during the first half of FY13, the current account…

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June 13, 2013

 

India likely to meet fiscal deficit target of 5.3 pc

NEW DELHI: India is likely to hit a fiscal deficit target of 5.3 percent of GDP this year despite a significant shortfall in revenue, a government report said on Wednesday, a day before the budget, but it conceded economic growth would be a sluggish 5 percent.The annual report on challenges facing the economy was prepared…

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February 27, 2013

 

US fiscal deal could spell trouble for Asia's investment winners

HONG KONG: A resolution to the US fiscal cliff crisis, messy and protracted as it was, provided an immediate boost for financial markets but longer term could spell trouble for some Asian assets that are coming off a stellar 2012.Investors could start to shift some money out of overpriced or crowded Asian investments in favour…

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January 3, 2013

 

Stocks leap on U.S. 'fiscal cliff' deal

LONDON: Britain's top share index jumped higher on the first trading session of 2013 after U.S. lawmakers approved a deal preventing massive tax hikes and spending cuts, boosting the outlook for the new year.The Republican-controlled House of Representatives late on Tuesday finally approved a bill that will raise taxes on top U.S. earners, fulfilling President…

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January 2, 2013

 

United States avoids calamity in “fiscal cliff” drama

WASHINGTON: The United States averted economic calamity on Tuesday when lawmakers approved a deal to prevent huge tax hikes and spending cuts that would have pushed the world's largest economy off a “fiscal cliff” and into recession.The agreement hands a clear victory to President Barack Obama, who won re-election on a promise to address budget…

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January 2, 2013

 

Asia stocks at five-month high as end nears for U.S. fiscal cliff

HONG KONG; Asian stocks hit a five-month high and the dollar fell as a last-minute deal looked set to end the U.S. “fiscal cliff” crisis that threatened a U.S. recession and roiled world financial markets.The U.S. Senate early on Tuesday passed a bill that aims to avoid the cliff's automatic implementation of $600 billion in…

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January 2, 2013

 

Dollar falls on optimism over “fiscal cliff” deal

SINGAPORE: The safe haven dollar fell on Wednesday as the U.S. House of Representatives seemed to take a step closer to striking a last-minute deal to avoid triggering a fiscal crunch that could threaten the global economy.The U.S. House of Representatives is preparing to vote on the Senate's “fiscal cliff” bill, Democratic Representative Alcee Hastings…

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January 2, 2013

 

U.S. heading off 'fiscal cliff' despite Senate efforts

WASHINGTON: The United States was headed over the “fiscal cliff” – at least temporarily – at midnight on Monday as time was running out for lawmakers to back a last-minute deal between the White House and Senate leaders to avert severe tax increases and spending cuts.After months of fruitless argument between Republicans and Democrats, the…

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January 1, 2013

 

Strong Asian gains overshadowed by US fiscal cliff

SYDNEY: Several major Asian stock indexes closed on Monday with the strongest annual gains in years, but these were overshadowed by the lack of progress in talks to avert the looming US “fiscal cliff”.Australian shares ended up 14.6 percent in 2012, the best yearly gain since the recovery of 2009. On Monday the benchmark S&P/ASX…

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December 31, 2012

 

After US 'fiscal cliff' dive, more battles, new cliffs

WASHINGTON: Whether or not the U.S. “fiscal cliff” impasse is broken before the New Year's Eve deadline, there will be no post-cliff peace in Washington.With the political climate toxic in Congress as the cliff's steep tax hikes and spending cuts approach, other partisan fights loom, all over the issue that has paralyzed the capital for…

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December 30, 2012

 

Indian rupee hits three-week low; 'fiscal cliff' progess eyed

MUMBAI: The rupee hit a three-week low on Friday, extending its fall for a third straight week, as uncertainty over the U.S. “fiscal cliff” resolution dented demand for risk assets including domestic equities.Traders said month- and year-end dollar demand from oil and gold importers also added to the downward pressure on the local currency. Oil…

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December 21, 2012

 

Stalled “fiscal cliff” talks send global shares lower

LONDON: World shares held near 17-month highs on Thursday, ending a week-long rally, while oil fell as the latest setback in talks to avert a US fiscal crisis kept buyers away.In the currency market, the Bank of Japan's widely expected decision to ease policy for a third time in four months encouraged traders who had…

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December 20, 2012

 

Brent rises above $108 on hopes for US fiscal cliff fix

SINGAPORE: Brent crude rose above $108 a barrel on Tuesday as the outlook for demand improved on signs of progress in U.S. talks to resolve a budget crisis that threatens to dip the world's top oil consumer into recession again.Optimism that the U.S. “fiscal cliff” tussle could be settled before tax hikes and spending cuts…

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December 18, 2012

 

Hopes rise for “fiscal cliff” deal as Obama, Boehner meet

WASHINGTON: The differences over how to resolve the “fiscal cliff” narrowed significantly Monday night as President Barack Obama made a counter-offer to Republicans that included a major change in position on tax hikes for the wealthy, according to a source familiar with the talks.The move, which the source stressed was not Obama's final offer, was…

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December 18, 2012

 

Oil falls as fiscal cliffhanger fuels caution

NEW YORK: Oil prices fell on Thursday as worries about the economic impact of a U.S. fiscal crisis overshadowed improvements in U.S. jobs data and retail sales.Speaker of the U.S. House of Representatives John Boehner charged on Thursday that the White House seemed willing to “slow-walk our economy right up to – and over –…

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December 14, 2012

 
 
 
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