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The International Monetary Fund Executive board approved a three-year, $6 billion loan package for Pakistan on Wednesday to rein in mounting debts and stave off a looming balance of payments crisis, in exchange for tough austerity measures.
The International Monetary Fund (IMF) said it approved a $500 million disbursement to Pakistan for budget support after the IMF Executive Board completed delayed reviews of Pakistan’s $6 billion loan programme.
World stocks spluttered to their lowest level in more than a week on Thursday, as a surge in US coronavirus cases and an IMF warning of an almost 5% plunge in the global economy this year hit the bulls again.
The company announced two weeks ago that it would cancel 900 connections in July. Now it will take out of the system a further 2,200 of a total of 80,000 flights, Lufthansa said, dpa news agency reported.
According to data from hotel management analytics firm STR, Dubai ranked No.1 globally in hotel occupancy, ahead of other international destinations including New York, London and Paris for the January-April 2022 period.
A day after endorsing Ukraine’s candidacy to join the European Union, the bloc’s leaders turned their attention on Friday to the severe economic turbulence looming over