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SBP increases monetary policy rate to 7.5 percent

KARACHI: State Bank of Pakistan on Saturday announced to increase the monetary policy by 100 basis points to 7.50 percent effective from July 16, to curb demand and ensure near-term stability. According to a statement by the monetary…

Saudi Arabia projects $53 bn deficit in 2017

RIYADH: Saudi Arabia on Thursday projected a 2017 budget deficit of about $53 billion and a lower than expected shortfall for this year after government cost-cutting in response to lower oil prices. Expenses next year will reach 890…