Laborers work on a building construction site in Karachi, Pakistan. Reuters
The Asian Development Bank (ADB) and the Government of Pakistan signed the loan agreement for a $300 million emergency assistance loan intially approved by the bank on May 19.
The tranches were fully subscribed by a syndicate of leading UAE banks, the government statement said.
Pakistan’s rupee dropped to an all-time low of 146.5 to the dollar on Thursday, days after Islamabad announced it had reached an agreement with the International Monetary Fund on a fresh bailout for its troubled economy.
China’s banks extended new yuan loans in August as policymakers ratcheted up support for the slowing economy, and further policy easing is expected in coming weeks as the Sino-US trade dispute takes a bigger toll on the economy.
America’s employers added a sizzling 517,000 jobs in January, a surprisingly strong gain in the face of the Federal Reserve’s aggressive drive to slow growth and tame inflation with higher interest rates.
In an interview with CNN News 18, Finance Minister Nirmala Sitharaman brushed off concerns that the losses would spook global investors and said India's financial market was "very well regulated.”
DP World has been awarded a concession to build and operate a mega-container terminal at Deendayal port in Gujarat, India. The terminal will have a 1,100-meter berth and will have a capacity of 2.19 million