Bloomberg Pakistan increased its benchmark interest rate by 100 basis points, to the highest in more than 24 years, as the economy grapples with raging inflation, supply shortages, dwindling currency reserves and stalled foreign financing. State Bank of Pakistan raised the target rate to 17%, a move expected by 25 of 43 economists in a Bloomberg survey. The majority ...

  Bloomberg Barclays appointed John Kingman to replace Crawford Gillies as chair of Barclays UK, one of a number of board changes the bank is making as two of its long-standing directors step down. Kingman, who is chair of Legal & General Group Plc and whose former roles include positions at the UK Treasury and Rothschild, will join the board ...

  Bloomberg The dollar held just off nine-month lows against the euro and a group of other currencies, after a slew of Federal Reserve officials laid out the case for a downshift in the US central bank’s rate-tightening campaign, while concerns about a potential economic downturn weighed on equities. Investors are increasingly contrasting the US picture with a relatively rosier ...