Karachi - Pakistan's central bank on Thursday said it was working closely with the government to restore economic stability amid rising rumours that the country might default soon on loans from its international creditors.

"The federal government and the central bank are working in tandem to restore macroeconomic stability," Shamshad Akhter, the governor of State Bank of Pakistan, said in an unscheduled statement.

Akhter blamed the prolonged political instability and rising international fuel and commodities prices for the country's financial difficulties.

Stockholm - Sweden's central bank Thursday raised the country's key interest rate by 0.25 per cent to 4.75 per cent in what bank chief Stefan Ingves said was a move to curb inflation.

London - The Bank of England Thursday left interest rates unchanged at 5 per cent, it said.

Amman - Jordan's reserves of hard currencies grew by 11 per cent in the first seven months of the year, the Central Bank of Jordan (CBJ) announced Thursday.

The services of leading private bank HDFC were largely affected due to some technical problems in its network in the entire country.

Many customers faced problems for ATM operations, net banking and other banking related applications.

The technical snag also affected its retail services. The bank officials confirmed the problem and said that all things would come under control within a short time. The technical teams are trying their best in order to resolve the problems and bring the situation normal.

After a long time, the government has agreed to return a part of equity capital in UCO bank. This returned equity capital will be converted into non-convertible preferences shares for 10 years.

The existing shareholder would definitely be benefited from this conversion, but the Govt. will be cost around Rs 900 crore at current market price. This conversion will lead to hike in the share price, and thus the move may be beneficial.