Posts Tagged ‘economy’

Zardari urges Pakistan, China to jointly deal world economy

President Asif Ali Zardari has stressed the need for Pakistan and China to deal with the world economy together and act in accordance with the new global demands. In an interview with China’s Peoples Daily Online, the President said as the world is settling in new situation, Pakistan and China need to find new comfort zone for further collaboration in all dimensions. President Zardari …

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We’ll be ‘force multiplier’ in China’s rise, says Zardari

BEIJING – Pakistan and China are finding new ‘comfort zones’ to consolidate their ties, President Asif Ali Zardari has said, declaring that Islamabad will be a ‘force multiplier’ in China’s emergence as the world’s largest economy.The future direction for the two countries will be to look at the world together where they could produce and support new global …

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India defies US sanctions, won’t cut Iran oil imports

CHICAGO — India has joined China in saying it will not cut back on oil imports from Iran, despite stiff new US and European sanctions designed to pressure Tehran over its nuclear programme.“It is not possible for India to take any decision to reduce the import from Iran drastically because, after all, the countries which can provide the requirement of the emerging economy, Iran is …

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Cuba’s Communists map out party future

HAVANA: Cuba’s Communist leaders vowed not to cede any ground to ”the enemy,” even as they pledged to fight corruption and continue overhauling the island’s listing Marxist economy with an injection of free market reform. No word of long-awaited political changes, including an April pledge by President Raul Castro to implement term limits, seeped out [...]

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Via DAWN.com

‘Terrorists using black money’

ISLAMABAD – Endorsing the findings of SDPI-UNODC joint report, Rehman Malik, Federal Minister for Interior, said illegal money earned through drugs and arms trafficking is being used by terrorists. Therefore, global cooperation is necessary to curb organised transnational crimes.
He was speaking at the SDPI and UNODC joint study launch on illegal economy of Pakistan titled “examining the …

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Obama offers populist vision in campaign-year address

WASHINGTON, Jan 25: US President Barack Obama wants large tax hikes on millionaires to finance a fair economy for all, a populist vision aimed at convincing crisis-weary voters he merits a second White House term.

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Via DAWN.com

Pakistan growth challenging; dependant on reform pace: ADB

“Pakistan’s economy will struggle to grow fast this year but the country can do better in the future provided the necessary economic reforms make it through the country’s complex power structure,” the Asian Development Bank’s (ADB) top official for Pakistan said.

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Via DAWN.com

Pakistan’s economy to grow at 3.9pc: WB

ISLAMABAD – The World Bank has observed that Pakistan’s weak economic growth is due to worsening security condition accompanied by greater political uncertainty and a breakdown in policy implementation. It predicted country’s economic growth at 3.9 per cent during the year 2012.
The World Bank in its report titled “Global Economic Prospect 2012” has forecast that the world …

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Russia warns West against Iran strike, sanctions

Russia warned on Wednesday that an attack on Iran would cause a catastrophe and said US and European Union sanctions against Tehran were aimed at triggering popular discontent by “strangling” the economy.

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Via DAWN.com

Total debt reaches Rs 11.8 trillion

KARACHI – Pakistan’s total debt has reached Rs11.8 trillion, which is 60 per cent of the GDP. With Pakistan’s economy facing a truck load of challenges led by rising level of debt especially from domestic sources, the country needs measures which include tightening of the belt and collection of revenue across he board without discrimination.
Total debt of the country reached the …

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Indian PM set sights on 9-10 per cent growth

JAIPUR: Indian Prime Minister Manmohan Singh on Sunday said he hoped the nation’s economy would overcome a recent dip in confidence to post annual growth rates closer to 9 or 10 per cent. Addressing a business conference in the northwestern city of Jaipur, the premier admitted that growth in the current financial year would be [...]

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Via DAWN.com

Musharraf’s team being fostered in new ‘cantonment’: Nawaz

Leader of the Pakistan Muslim League – Nawaz (PML-N), Mian Mohammed Nawaz Sharif on Monday said that the energy crisis had destroyed the economy, DawnNews reported.

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Via DAWN.com

Musical chairs

By most accounts 2011 was yet another difficult year for Pakistan’s economy. Stalled reform, energy shortages, floods, political uncertainty and a dramatic rise in geopolitical tensions

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Via DAWN.com

Brent oil set to end year up 14 per cent, record high average

SINGAPORE: Brent crude is set to end the year up nearly 14 per cent from a year ago, supported by signs of an improving US economy and Iran’s threats to halt oil flow through a vital trade route. Brent rose 19 cents to $108.20 a barrel by 0701 GMT in the final trading day of [...]

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Via DAWN.com

Pakistani rupee hits record low at 89.58 to dollar

KARACHI: The Pakistani rupee hit a record low on Wednesday as import payments climbed and exporters held on to their dollars because of a bleak outlook for the country’s economy. “The rupee was traded at 89.58 (to the dollar),” said a bank dealer. The rupee was trading at 89.44/50 to the dollar at 12:57 p.m. [...]

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Via DAWN.com

Varsities must give future leaderships

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LAHORE – Education is the single most important factor which can transform Pakistan’s future. It boosts economy, broadens the outlook of society and offers brighter future for the youth. Universities should actively prepare the future leadership, salvage the social cultural collapse, re-build the economy and evolve a mechanism to groom…

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SBP keeps interest rate unchanged at 12 pc

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The State Bank kept the policy interest rate for December and January unchanged at 12 per cent on Wednesday. Unveiling the monetary policy at a press conference, the bank official said that the discount rate would remain at 12 per cent, despite serious challenges to the monetary system and economy.

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