New orders, closely watched as an indicator of future business activity, plunged by 5.8 percent month-on-month, according to federal statistics agency Destatis, following an upwardly revised increase of 3.9 percent in July. Analysts surveyed by financial data firm FactSet had been expecting a much smaller decline of 1.8 percent in August. Excluding large orders, which […]
The world’s second-largest economy posted some of its lowest growth in decades last year and is battling a prolonged property sector crisis and soaring youth unemployment. But in a rare bright spot, official statistics Saturday showed the consumer price index rose 0.7 percent last month, according to Beijing’s National Bureau of Statistics (NBS) the first […]
A collapse in foreign exchange reserves saw months of food and fuel shortages along with street protests that forced the ouster of President Ranil Wickremesinghe’s predecessor in 2022. Sri Lanka has since signed up for an International Monetary Fund rescue package and has been working to repair public finances since the government defaulted in April […]
The fate of millions of Syrian refugees in Turkey hangs in the balance amid fears that they may become pawns in the country’s changing politics. Syrian refugees have become central in the political debate in Turkey ahead of elections next year. Calls to repatriate them to war-torn Syria used to be the cause of fringe, […]
The Pakistani rupee is constantly devaluated against the US dollar in the domestic market. It has lost almost 3.7% of its value now- to the point that the Pakistani rupee was the worst-performing currency of Asia last year. Moreover, oil prices have increased dramatically by 9% which caused a tumult in the nation. Pakistan’s economy […]
WASHINGTON — President Joe Biden responds to the June jobs numbers on Friday, saying the strong growth in employment reflects; the success of his American Rescue Plan relief bill this spring and his administration’s nationwide vaccination campaigns. Also, “We’re proving to the naysayers and the doubters that they were wrong,” Biden says; Friday morning at […]
Ministry of Finance is considering a stimulus package to support the economy on Tuesday. Finance Minister, Shaukat Tarin, is reportedly leading the initiative, which will contain monetary, fiscal, or both elements. The stimulus package details have not been shared so far, as it is still a work in progress. The minister also told the media […]
Prime Minister Imran Khan, during the telephone session with the public on Sunday, has shared his Ramadan routine with everyone. When asked about his exercise routine during Ramadan, PM Imran replied, “I always do exercise before breaking my fast, and actually we all should do it as it is quite healthy doing so.” “Keeping fast […]
Pakistan’s exports have increased to $2.345 billion in March 2021; according to the provisional figures by the Ministry of Commerce, said Adviser to Prime Minister on Commerce and Investment, Abdul Razak Dawood, on Thursday. He took to Twitter and announced, “Ministry of Commerce is glad to share that according to provisional figures; in March 2021 […]
ISLAMABAD: In a show of confidence in Pakistan from foreign investors, the Euro bonds floated by the country were able to fetch US$2.5 billion from the international market. According to details, the country rolled out three separate Euro bonds in the international market; having a time frame between 5 years to 30 years. An interest […]
