PARIS: On Sunday, citizens and trade unions took to the streets in cities around Europe for May Day marches and to send protest messages to their governments, particularly in France, where the holiday honoring workers was being exploited as a rallying cry against freshly reelected President Emmanuel Macron. May Day is a time when people … Read more
Debt accumulated by means of corporations and people worldwide could gradual economic recoveries from the pandemic disaster, the IMF warned Monday. Governments took great measures to assist their economies as Covid-19 unfold two years ago, consisting of rolling out debt repayment suspensions or offering large-scale loans. But those programs led to higher debt stages for … Read more
SHANGHAI: The chairman of China’s biggest insurer is under investigation by the Communist Party’s anti-corruption commission, the agency said on Saturday, as the government pushes a campaign against graft and a clean-up of the country’s chaotic financial industry. Wang Bin is being investigated for suspected “serious violations of discipline and law”, the Central Commission for Discipline … Read more
LONDON, Jan 5, 2022 (AFP) – More than one in 20 people in Britain had Covid-19 in the last week of 2021, the highest infection rate recorded during the pandemic, official data showed Wednesday. An estimated 3.7 million people in the UK had the virus, up from 2.3 million the previous week, as the Omicron variant … Read more
HONG KONG, Jan 5, 2022 (AFP) – Asian financial hub Hong Kong banned flights from eight nations on Wednesday as part of strict new virus curbs, with Omicron outbreaks spiralling out of control from Europe to the United States. The new coronavirus variant is spreading rapidly across continents, leaving governments rushing to roll out vaccine boosters … Read more
KARACHI: Cryptocurrency prices went on another roller coaster this past year: surging, plunging and then cycling again. This price move trend usually comes from spot market manipulations by option sellers (mostly institutional traders) to push the spot price closer to the strike price at which the highest number of open options contracts expire worthlessly. Bitcoin, … Read more
Global debt went up by the highest one-year jump in 2020 since World War II to reach a record $226 trillion, Arab News quoted the International Monetary Fund, as saying in a blog posting. This came as countries grappled with the pandemic and a significant recession. The IMF indicated that the surge in debt was justified to … Read more
RIYADH: Saudi Arabia’s Finance Ministry said it looks at long-term and historical periods to ensure oil price outlook is more accurate, Arab News quoted Finance Minister Mohammed Al-Jadaan, as saying. Speaking at a budget forum in Riyadh, the finance minister said revenues are calculated based on structural income factors. He said the Saudi budget surplus … Read more
LAHORE: Pakistan Furniture Council (PFC) chief executive officer (CEO) Mian Kashif Ashfaq has said that the furniture exports registered a 202.49 per cent increase during the first four months of the current fiscal year, compared with the corresponding period of last year. “The furniture industry has a big potential to dominate global markets with innovative … Read more
DOHA: Qatar has approved its budget for the 2022 fiscal year, Arab News quoted the country’s Minister of Finance Ali Al Kuwari said in a press conference. Revenues are expected to amount to 196 billion riyals ($53.8 billion), a 22.4 per cent rise compared to last year’s budget estimates, Asharq reported. Estimates for the budget were made while assuming … Read more
KARACHI: Pakistan’s external debt and liabilities have increased $13 billion, or 11.4 per cent, during the last one year, according to the statistics released by the State Bank of Pakistan (SBP) on Thursday. The outstanding debt and liabilities of the country stood at $127 billion by September 2021, compared with $114 billion over the same … Read more
KUALA LUMPUR: Thailand’s re-opening to vaccinated foreign tourists marks a major easing of border controls for Asia, where governments have been far slower to roll back coronavirus travel curbs than in much of the West. Here is a look at which countries are opening up across the Asia-Pacific region and those staying sealed off from … Read more
According to the latest data from the United Nations World Tourism Organization (UNWTO), over the coming weeks and months, the global vaccination rollout and growing adoption of digital solutions for secure travel should result in an increase in the international movement. According to the latest report on Travel Restrictions Report from the agency, as of … Read more
Karachi: In the budget 2021-22, the Senate Standing Committee on Finance unanimously suggested that government employees’ pay be increased from 10% to 20%. Senator Taleh, the Chairman of the Senate Standing Committee on Finance and Revenues, convened a meeting on Monday at Parliament House to finalize budget recommendations for the years 2021-22. Senator Sherry Rehman … Read more
Turkey and Pakistan discussed on Tuesday ways to deal with the refugee crisis, as well as the influx of irregular migrants from neighboring states — challenges facing both the governments, BOL News learnt. The sources of Anadolu Agency, Turkey’s Deputy Interior Minister Ismail Catakli met Pakistan’s Interior Minister retired Brig. Ijaz Shah in the capital … Read more
