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Pakistan 'war on terror' has cost $118bn: state bank INTERNATIONAL

Pakistan 'war on terror' has cost $118bn: state bank

Pakistan's "war on terror" has cost the developing country a whopping $118bn so far, a new central bank report has said, an amount equivalent to well over one third of its gross domestic product.

4:45 AM November 25 2016
Saudi c.bank orders rescheduling of austerity hit loans ECONOMY

Saudi c.bank orders rescheduling of austerity hit loans

Saudi Arabia's central bank said on Sunday it had given commercial banks instructions to reschedule consumer loans of customers hit by recently announced austerity measures.

4:45 AM November 25 2016
Qatari banks' rising foreign liabilities not an 'immediate concern', says EIU ECONOMY

Qatari banks' rising foreign liabilities not an 'immediate concern', says EIU

Rapidly rising foreign liabilities of commercial banks in Qatar will not be an “immediate concern” as those can be “easily covered” by the sizeable assets held by the central bank (QCB) and the Qatar Investment Authority (sovereign wealth fund), shows a report by The Economist Intelligence Unit.

4:45 AM November 25 2016
Australia economy outpaces global peers, rates seen on hold ECONOMY

Australia economy outpaces global peers, rates seen on hold

Australia's economic growth boomed past expectations in the first quarter with the annual pace speeding to its fastest in over three years, an upbeat result.

4:45 AM November 25 2016
One-third of ATMs don't work in India, says central bank ECONOMY

One-third of ATMs don't work in India, says central bank

A third of India's cash machines don't work, the central bank said, posing a challenge for the government as it strives to provide banking services to millions of poor citizens living in rural areas.

4:45 AM November 25 2016
Bangladesh identifies 20 foreign suspects in cyber theft INTERNATIONAL

Bangladesh identifies 20 foreign suspects in cyber theft

Bangladeshi investigators have identified 20 foreigners suspected to have been involved in the cyber heist of tens of millions of dollars from its central bank, a police officer said.

4:45 AM November 25 2016
India cuts interest rate to lowest since 2011, but raises reverse repo ECONOMY

India cuts interest rate to lowest since 2011, but raises reverse repo

The Reserve Bank of India cut its policy interest rate by a quarter percentage point on Tuesday, reducing it to a more than five-year low while dangling the prospect of another cut later this year if inflation trends stay benign.

4:45 AM November 25 2016
Part of $100mn hacked from Bangladesh Bank recovered INTERNATIONAL

Part of $100mn hacked from Bangladesh Bank recovered

Bangladesh's central bank said that part of almost $100mn allegedly stolen from a reserve account in the US last month has been recovered.

4:45 AM November 25 2016