A worker monitors an automatic copper wire unit at the Fast Cables plant in Lahore, Pakistan. Reuters
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 tranches were fully subscribed by a syndicate of leading UAE banks, the government statement said.
Dubai: Pakistan Prime Minister Imran Khan’s government presented a Rs6 trillion (Dhs147.72b) federal budget of 2019-20 on Tuesday. A cross-section of Pakistani expats and business heavyweights share their candid views with Gulf Today. Ahmad Shaikhani, Senior Vice President, Pakistan Business Council
"Ads must be constructive rather than destructive," Usman said, adding that Western culture was corrupting Pakistan, pointing to the recent arrival of nudity in films and women marching in favour of abortion in Pakistan earlier this year.
Egypt’s central bank is expected to leave its main interest rates unchanged as it weighs the impact of an emergency 300 basis point cut two weeks ago to soften the economic impact of the coronavirus outbreak, a Reuters poll showed.
Production growth of India’s manufacturing sector eased in March amid export decline, PMI survey report showed. Accordingly, the headline seasonally adjusted IHS Markit India Manufacturing PMI grew at the slowest rate for four months in March,
Softbank Group Corporation said it has terminated a $3 billion tender offer for additional WeWork shares agreed last year with shareholders, drawing threats of legal action and plunging the floundering office space company further into crisis.
Some 898,822 workers lost their jobs since March 12 in Spain, social security data showed on Thursday, more than half of which are temporary workers. The number of people officially registered as unemployed in the country rose to 3.5 million in March, the highest level since April 2017.