State Bank of Pakistan maintains interest rate at 5.75%

KARACHI: State Bank of Pakistan held its main policy interest rate steady at 5.75 percent on Saturday, the bank’s new governor said, citing low inflation expectations and the gathering pace of economic activity. Tariq Bajwa, who was appointed earlier this month, said the economy was in an “expansionary phase” and added the balance of payments issues that have dogged Pakistan in the past will be kept under control. The SBP Governor said the national economy was undergoing expansion given the rise in fiscal activity. He added the service sector has…

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Anti polio campaign kicks off

After a gap of a couple of month,  Sub National-Immunisation anti polio campaign started on Monday, aiming to cover the persistently “refusal cases” in several areas of Karachi. Commission Karachi Ejaz Ahmed Khan launched the drive by vaccinating the children at a  maternity home in district south. While talking to media, Commissioner Karachi  said that during the last one year not a single case of polio has been reported in Karachi that shows the commitment of the health  workers, their dedication and parents’ resolve against the disease. According to a…

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VEON offers mobile messaging app in five markets, including Pakistan

FRANKFURT: Global telecom operator VEON said on Wednesday it was making progress in its strategy to reinvent itself as an online player by introducing its messaging and mobile services app in four new markets, including its largest in Russia and Pakistan. The messaging app, which is designed to compete with the likes of Facebook Inc’s WhatsApp and Rakuten Inc’s Viber, offers free services to customers via its mobile network without users incurring data charges as other apps do. It was introduced late last year to customers of its Wind Tre…

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Microsoft profit rises on shift to cloud computing

SAN FRANCISCO: Microsoft on Thursday reported that its quarterly profit climbed to $6.5 billion, lifted by its shift to computing services hosted in the internet cloud. The US technology giant said revenue in the recently ended quarter rose to $23.3 billion, with $7.4 billion of that due to its “intelligent cloud” offerings. “Innovation across our cloud platforms drove strong results this quarter,” Microsoft chief executive Satya Nadella said in a release. “Customers are looking to Microsoft and our thriving partner ecosystem to accelerate their own digital transformations and to unlock…

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26 Twenty-six dead, 66 injured in Lahore suicide blast

LAHORE: At least 26 people, eight police personnel among them, were killed and 66 others injured in a suicide blast near Arfa Karim Tower on Ferozpur road on Monday, officials said. Police said that a suicide bomber riding a motorcyle had tried to target policemen, who were present in the area to handle any possible untoward situation in reaction to the ongoing anti-encroachment operation. The blast left at least 26 dead and 57 wounded. A Sub-Inspector and an Assistant-Sub Inspector were among the eight police personnel killed in the incident. Police…

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