Gita Gopinath. File
News from the economic front is a mixed bag. By all accounts the immediate outlook is bad. But the chances of an early recovery are said to be bright.
The economic fallout from the coronavirus pandemic could inflict “significant scarring” worldwide and the outlook for recovery remains highly uncertain, IMF chief economist Gita Gopinath said on late Friday.
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.
The government has stated that its reform agenda signed with International Monetary Fund (IMF) is on track and the progress so far on nearly all the performance and structural benchmarks for first quarter of the current fiscal year
China’s new bank loans fell more than expected in April while money supply growth slowed to a 21-month low, as the central bank gradually scales back pandemic-driven stimulus to reduce debt and financial risks in hot areas of the economy. The world’s second-largest
Toyota Motor Corp forecast its profit would bounce back to pre-pandemic levels this year, as the world’s biggest automaker exuded confidence it can tackle a global chip shortage that has stung its rivals. Japan’s top automaker, which has been stockpiling the
The Danish Government has confirmed its official participation in Expo 2020 Dubai, partnering the Danish Business Council at the six-month global gathering. Reem Bint Ibrahim Al Hashemy, Minister of State for International Cooperation, and Director General
Oil prices rose on Wednesday after a drop in US crude inventories reinforced Opec’s robust demand outlook, while the market awaited fresh updates on the Colonial Pipeline outage. US West Texas Intermediate (WTI) crude futures rose 29 cents, or 0.44%, to $65.57