Picture used for illustrative purpose only.
The Asian Development Bank (ADB) approved $1 billion in immediate budget support to Pakistan to shore up the country’s public finances and help strengthen economy besides approving $300 million to support energy sector reforms.
Egypt will remove subsidies on most energy products by June 15, it told the International Monetary Fund in a January letter released by the IMF on Saturday as part of a review of Cairo’s three-year, $12 billion loan programme with the lender.
Egypt introduced its latest round of fuel subsidy cuts on Friday, raising domestic prices by between 16% and 30% as it nears the end of an IMF-backed economic reform programme.
The US economy plunged at an unprecedented rate this spring and even with a record rebound expected in the just-ended third quarter, the US economy will likely shrink this year,
Britain suffered a record collapse in economic output in the second quarter of 2020 when COVID-19 lockdown measures were in force and people had few opportunities to spend,
The Abu Dhabi National Oil Company (Adnoc) announced on Wednesday that one of its new trading entities, Adnoc Trading, has started derivatives trading as a direct market participant.