LSE sees 2.3% growth, more poverty in 2024
LAHORE: The Pakistani economy is projected to grow at a rate of 2.3% in FY 2024. The combination of this low growth and high inflation will significantly increase poverty this year and in the coming years. Approximately 10% of taxes would need to be spent on transfers to lower-income households to eliminate this poverty. This […]
Russia’s Shoigu says tank production is booming
MOSCOW: Russian Defence Minister Sergei Shoigu said on Friday that the country was ramping up manufacturing of tanks and heavy flamethrower systems, but more work was needed to increase production of tank protection equipment. Shoigu’s ministry published a video showing him touring a tank factory in the Siberian city of Omsk and meeting workers, whom […]
Liverpool out of Europa League as Leverkusen advance to semis
LONDON: Liverpool crashed out of the Europa League after a 1-0 win against Atalanta that wasn’t enough to overturn their quarter-final deficit, while Bayer Leverkusen’s 1-1 draw at West Ham took the German champions into the last four on Thursday. In Jurgen Klopp’s last season as Liverpool boss, the Reds were hoping to give the […]
Interior minister decides to launch joint operation in riverine areas
ISLAMABAD: Interior Minister Mohsin Naqvi decided on Friday to launch a joint operation in the riverine areas to combat the lawlessness and gangs of dacoits who use the region to conduct criminal activities. The decision came during a meeting of the National Action Plan Implementation Review Committee held at the National Counter-Terrorism Authority (NACTA) headquarters. The […]
Pakistan aims to agree outline of new IMF loan in May, says finance minister
WASHINGTON: Pakistan hopes to agree the contours of a new International Monetary Fund loan in May, Finance Minister Muhammad Aurangzeb told Reuters, and has kicked off talks with rating agencies to lay the groundwork for a return to international debt markets. The country’s current $3 billion arrangement with the fund runs out in late April […]
Profit-booking pulls stocks down marginally
KARACHI: Pakistan Stock Exchange (PSX) on Thursday closed with marginal losses as dispirited investors continued to book profits at higher valuations. In the morning, trading commenced on a positive note as the KSE-100 index touched the intra-day high of 70,645.29 points in the initial hours but soon it stumbled over concerns about the poor economic […]
Korda makes strong start to LPGA record bid
MIAMI: Nelly Korda made a strong start to her bid for a record-equalling fifth straight LPGA Tour win with a four-under-par 68 Thursday at the Chevron Championship, the first women’s major of the year. The world number one from the United States was two strokes behind leader and compatriot Lauren Coughlin, who shot a superb […]
Textile exports dip 7.7% as pessimism prevails
LAHORE: Textile exports from Pakistan have again slipped into the negative territory as March 2024 figurers showed a month-on-month (MoM) decline of 7.67%, marking the second consecutive month when global sales of the major sector of the economy slowed down. Textile exports came in at $1.299 billion in March against shipments valuing at $1.407 billion […]