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Not in line with expectations, the Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) has maintained the policy rate stable at 12%. “At its meeting today, the MPC decided to keep the policy rate unchanged at 12 percent,” the MPC said in a statement. “The committee noted that inflation in February 2025 turned out lower than expectation, mainly due to a drop in food and energy prices. “Notwithstanding this decline, the committee assessed the risks posed by the inherent volatility in these prices to the current declining trend in inflation. At the same time, core inflation is…

This transaction highlights Mubadala’s strategy of value capture through strategic exits, positioning Calisen for future growth Mubadala has successfully wrapped up the sale of its indirect stake in Calisen, the U.K.’s provider of smart meters and small-scale energy transition infrastructure assets. This transaction highlights Mubadala’s strategic maneuvering in the energy sector.The sale signifies the conclusion of a four-year investment cycle during which Mubadala, in collaboration with partners such as Global Infrastructure Partners (GIP), part of BlackRock, and the infrastructure division of Goldman Sachs Alternatives, worked closely with Calisen to ensure robust financial and commercial performance, according to a statement.Moreover, Mubadala…

Eid Al Fitr is expected to take place either on Sunday, March 30, or Monday, March 31, depending on the sighting of the moonEid Al Fitr 2025 is a special occasion for Muslims and is a time for celebration with family and loved ones. It marks the end of the month of Ramadan, a period of month-long fasting for Muslims around the world, and the start of Shawwal, the tenth month in the Islamic calendar.Eid Al Fitr is the second public holiday in the UAE this year following the Gregorian New Year on January 1. According to legislation passed by…

Finance Minister Muhammad Aurangzeb on Monday said the government seeks to diversify beyond the banking sector for lending purposes and urged the country’s insurance industry to meet its growing demand. This includes expanding the sector by focusing on innovation, enhancing productivity, and driving further growth. The finance minister made these remarks during a meeting held with a delegation of chief executive officers (CEOs) from Pakistan’s leading insurance companies, read a statement released by the Finance Division. According to the statement, Aurangzeb assured the group that the government would carefully consider their proposals, particularly regarding taxation and policy measures necessary for…

The number of homes available for sale in the $10 million+ bracket fell 40 percent, down to only 2,491 homes over the last 12 monthsDubai’s real estate sector witnessed a remarkable expansion in 2024, with residential property values rising by 19.1 percent over the past year to AED1,685 per square foot, according to the latest report from global property consultant Knight Frank. This places average prices at 13.3 percent above the 2014 peak.Villa sale prices have grown by 20.2 percent over the last 12 months, reaching AED2,009 per square foot, placing them 38.1 percent above the 2014 peak. This growth…

The $135.97 million financing will enable the acquisition of vital equipment and ensure project success The National Bank of Fujairah (NBF) has effectively completed a significant single currency term and letter of credit syndicated transaction amounting to $100 million. This initiative is aimed at supporting Pure Cement LLC in the establishment of a clinker production unit with a capacity of 6,500 tons per day (TPD) alongside an 8.5 MW Waste Heat Recovery-based captive power plant.With the overall project costing $135.97 million, this financing will facilitate the acquisition of essential plant, equipment, and fixed assets, thereby ensuring the project’s successful implementation.Read…

U.S. Treasury yields were lower on Monday as investors await a busy week of key economic data and take in the state of the U.S. economy after comments from U.S. President Donald Trump over the weekend.At 5:51 a.m. ET, the benchmark 10-year Treasury yield fell more than 5 basis points to 4.261%. The 2-year Treasury yield dropped by more than 4 basis points to 3.96%.One basis point is equal to 0.01%, and yields and prices move in opposite directions.Investors are anticipating several economic data releases this week, with the New York Fed survey of consumer expectations due out on Monday at 10 a.m.…

Wharf Real Estate Investment Co, one of Hong Kong’s biggest commercial landlords, said earnings tumbled last year as revenue from investment and hotel properties declined and a multi-year slump in the property market further eroded the value of its assets.Net profit fell 81 per cent from a year earlier to HK$891 million (US$114.7 million), mainly due to a five-fold increase in property revaluation deficit to HK$5.66 billion amid weak demand for commercial real estate, it said in a stock exchange filing on Monday. Revenue slipped 3 per cent to HK$12.9 billion. Excluding the deficit, earnings from its underlying business rose…

The yen rose in Asian trade on Monday against a basket of major rivals, resuming gains against the dollar and about to touch five-month highs on risk aversion as traders buy up safe havens.    The gains are boosted by a drop in US 10-year treasury yields following weak labor data, which bolstered the case for a Fed rate cut in the first half of the year.   The Price   The USD/JPY pair fell 0.55% today to 147.09 yen per dollar, with a session-high at 147.94.   The yen closed down 0.1% on Friday against the dollar, marking the…

China’s technology hubs of Shenzhen and Hangzhou posted strong population growth in 2024, as the cities bucked the country’s broader demographic decline by attracting a wave of migrants.However, several provinces in central and western China saw their populations shrink amid an intensifying inter-regional talent war driven by the country’s ongoing population crisis.Local governments across China are beginning to release their population data for 2024, with Shenzhen and the eastern province of Zhejiang – where Hangzhou is located – among the handful of localities to have already published their reports. Beijing, Shanghai, Guangzhou and several other major cities have yet to…