Rupee sheds 59 paisas against Dollar
ISLAMABAD (APP): Pakistani rupee witnessed 59 paisas devaluation against US Dollar (USD) in the interbank trading on Tuesday and closed at Rs 287.14 against the previous day’s closing of Rs…
ADB advises Pakistan to provide targeted subsidies, enhance tax-to-GDP ratio
INCHEON, South Korea (APP): The Asian Development Bank (ADB) has suggested Pakistan to provide targeted subsidies to mitigate inflationary pressure on people; bring about necessary structural reforms and enhance tax…
First Republic: JP Morgan to take over major US bank
NEW YORK (BBC/Agencies): The Federal Deposit Insurance Corporation (FDIC) confirmed in a statement that First Republic Bank had collapsed on Monday.Investment banking giant JP Morgan will take on all of…
Republicans pass bill to avert US debt crisis
Washington (AFP/APP): US Republicans voted Wednesday to raise the national borrowing limit, but only in conjunction with drastic cuts, as they sought a showdown with President Joe Biden over “excessive”…
UK to face another nurses strike over pay dispute
LONDON (AA/APP): Rejecting a pay offer from the government, nurses in England on Friday announced they will go on a 48-hour strike from April 30 to May 2.“What has been…
IMF issues growth warning as it lowers 2023 forecast
Washington (AFP/APP): The International Monetary Fund slightly lowered its outlook for the global economy on Tuesday, while predicting that most countries will avoid a recession this year despite economic worries…
‘Tunisia is not for sale,’ rejects IMF loan provisions
TUNIS (Agencies): Tunisia’s President Kais Saied stressed on Thursday that his country “is not for sale” and that national decisions must be “based on the will of the people.” He…
IMF chief calls on central banks to continue inflation fight
Washington (AFP/APP): Central banks around the world should keep battling inflation by hiking interest rates despite ongoing concerns about financial stability, the head of the International Monetary Fund told AFP…
China and US agree to help Zambia resolve debt burden
LUSAKA (Agencies): China and the US have reached an agreement to assist Zambia in resolving its debt burden of over $14 billion. Chinese Ambassador to Zambia Du Xiaohui and his…
Red Cross to cut 1,500 jobs over funding crunch
Geneva (AFP/APP): The Red Cross announced Tuesday that it would cut 1,500 jobs over the next 12 months in a drive to slash costs due to to a funding crunch.The…