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Confidence in euro zone expansion strong among economists

BENGALURU: The euro zone economy will mark its best year in a decade and maintain solid growth well into 2018, according to economists in a Reuters poll who said the risk was that their forecasts might not be optimistic enough. Reuters reported that inflation, last clocked at 1.4 percent, is expected to stay below the…

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Ambassador Aizaz Chaudhry meets Senator Jack Reed

WASHINGTON: Pakistani Ambassador to the United States Aizaz Ahmad Chaudhry met Senator Jack Reed (Democrat-Rhode Island) at Capitol Hill in Washington DC today. Senator Reed is the Ranking Member of Senate Armed Services Committee. He is also a member of Senate Appropriations and the Senate Banking, Housing and Urban Affairs Committees. Ambassador Chaudhry briefed Senator…

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China’s economy cools as gov’t curbs hit factories, property and retailers

BEIJING: China’s economy cooled further last month, with industrial output, fixed asset investment and retail sales missing expectations as the government extended a crackdown on debt risks and factory pollution, reported Reuters. Beijing is already in the second year of a campaign to reduce high levels of debt as authorities worry that riskier lending practices,…

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Ahsan Iqbal sees Pakistan economy as fast developing in world

LAHORE: Minister for Planning and Development Ahsan Iqbal said that in 2013, Pakistan was declared the weakest economy but after coming into power, the PML-N government turned it into fast emerging economy in the world in last four years. He was addressing the 1st International Youth Summit organized by University of Lahore. Ahsan Iqbal said…

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China’s Xi vows to ‘open wider’ while defending jobs

BEIJING: President Xi Jinping vowed to further free up China’s economy, again urging Asian countries to work closely together in a speech at the Asia Pacific Economic Cooperation (APEC) meeting in Vietnam, reported Reuters. The comments echo Xi’s call to support a “multilateral trading system” and contrast with those delivered at the weekend by U.S….

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World markets rattled by arrest of Prince Waleed

The arrest of Prince Al-Waleed bin Talal, one of the world’s richest individuals, has shocked the investors around the world as he had investments in many countries of the world. The arrested prince is a major investor in firms including Citigroup, Euro Disney, Apple, Twitter, 21st Century Fox, and Lyft. The arrest of business tycoon…

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Chines Deputy Chief of Mission terms local solutions a key to poverty reduction

ISLAMABAD (PR): China was able to reduce poverty considerably during the last five years through a number of solutions that were offered at community level aiming to improve their live through new income generation activities. There is no single solution for poverty alleviation and keeping this in view, Chinese government helped communities through multiple approaches involving…

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Standard & Poor’s affirms Pakistan’s ‘B/B’ ratings with Stable Outlook

ISLAMABAD: The global rating agency, Standard & Poor’s Global Ratings (S&P), in its report on Monday affirmed Pakistan’s long-term ‘B’ and short-term sovereign credit rating. The outlook for the long-term ratings remains stable, according to the report. Affirmation of Pakistan’s rating reflects that economic prospects remain favourable and external and fiscal metrics of the country…

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Pakistan, Poland agree to boost ties in multiple sectors

ISLAMABAD: Pakistan and Poland have discussed ways and means to enhance cooperation in diverse fields especially economy, trade, investment, energy, agriculture, science and technology, IT and defence. The two countries had a comprehensive review of bilateral relations during 6th Round of Pakistan-Poland Bilateral Political Consultations that has concluded in Islamabad. The two sides deliberated on…

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China will not set target to double GDP from 2021: party official

BEIJING: China will not set a target to double gross domestic product (GDP) from 2021, a senior Communist Party official said on Thursday, as top leaders look to high-quality growth in the long term, reported Reuters. Yang Weimin, vice minister of the Office of the Central Leading Group on Financial and Economic Affairs, told a…

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Rohingyas must go home but to safety, Bangladesh says

GENEVA: Bangladesh called on Myanmar on Monday to allow nearly 1 million Rohingya Muslim refugees to return home under safe conditions, saying that the burden had become “untenable” on its territory, reported Reuters. About 600,000 people have crossed the border since Aug. 25 when Rohingya insurgent attacks on security posts were met by a counter-offensive…

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Capitalism ‘has been broken’, top UK business leaders warn

NEWS DESK: The state of capitalism is in desperate need of reform and modernisation, according to some of the UK’s top business leaders, who claim that the system has been hurt by management greed, corporate tax dodging and investor short-termism, reported The Independent. Speaking on a panel for the Financial Times, former minister Baroness Shriti…

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PML-N ready to sign charter of economy with opposition parties: SAPM

ISLAMABAD: Special Assistant to the Prime Minister (SAPM) on Economic Affairs Dr Miftah Ismail has said the country’s Gross Domestic Product (GDP) is much better as compared to past due to the PML-N government economic prudent policies. Talking to PTV, he said PML-N is ready to sign Charter of Economy with opposition parties as like…

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PM Abbasi invites Turkey’s investors to invest in Pakistan

ISTANBUL: Prime Minister Shahid Khaqan Abbasi has invited Turkish entrepreneurs, business giants and mega companies to invest in diverse areas of economy in Pakistan. He expressed these views during a meeting with Foreign Economic Relations Board of Turkey in Istanbul on the sidelines of 9th D-8 Summit. The Prime Minister said that Turkish companies can…

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ADB enhances limit for private sector operations in Pakistan

ISLAMABAD: The Asian Development Bank has increased limit for private sector operations in Pakistan from 700 million dollars to 1.7 billion dollars. ADB’s Executive Director Sami Saeed apprised the Finance Minister Ishaq Dar about it during a meeting in Islamabad. He said the limit has been enhanced due to improved credit ratings of Pakistan and…

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PM seeks greater access to Pakistani products in world markets

ISLAMABAD: Prime Minister Shahid Khaqan Abbasi has directed the relevant stakeholders to work together in securing greater access to Pakistani products in the world markets. He was chairing a meeting in Islamabad on Tuesday to review impact of GSP Plus regime on Pakistan’s trade. Shahid Khaqan Abbasi said the Ministry of Commerce and the Ministry…

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World Bank to support Pakistan’s economic reforms

WASHINGTON: The World Bank said on Monday that it would support Pakistan’s efforts to reduce its risks and achieve its development aspirations through broad economic reforms.  “The statement was made after discussions with a Pakistan delegation that covered a range of topics including the macro-economic outlook, human capital development, renewable energy and private sector development…

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PM, party to decide about my resignation: Dar

ISLAMABAD: Finance Minister Ishaq Dar on Monday stated that Pakistan Muslim League-N and Prime Minister Shahid Khaqan Abbasi would have the final say about his resignation.  After presenting himself before the accountability court, Ishaq Dar held a press conference where he spoke to media officials. Much of the presser was dominated with questions pertaining to…

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Oil producers may not need to extend cuts: Kuwait

KUWAIT CITY: Oil producers may not need to roll over a deal to cut production beyond March if all members fully comply with their pledges, the Kuwaiti oil minister said Sunday.

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Army Chief’s reservations on economy are rightful: Imran Khan

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan said that Army Chief’s reservations on the economy are rightful, Samaa reported. In an interview on SAMAA TV program News Beat hosted by anchorperson Paras Jahanzeb, Khan said that army chief should be concerned about the country. The PTI chief termed foreign debt as a security threat to…

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