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IMF cuts growth forecast to 3.5%
The International Monetary Fund (IMF) on Tuesday lowered Pakistan's economic growth forecast to 3.5% and raised its inflation projection to 8.4% for the next fiscal year due to the Middle East conflict, as it does not see any major adverse impact of the war this year. In its flagship World Economic Outlook report, the IMF has also cut the global growth forecast for two years, basing its projections on $100 per barrel to $120 per barrel oil prices in adverse and severe war case scenarios. T...
Crackdown to begin against illicit cigarette market
In a decisive move to curb the booming illicit tobacco market, the federal government, in coordination with provincial authorities, has announced a nationwide crackdown on the sale of illegal cigarettes. Speaking at the launching ceremony of a research report prepared by Oxford Economics on illicit cigarette trade in Pakistan, Minister of State for Finance Bilal Azhar Kayani said that provincial governments would intensify enforcement operations to eliminate the widespread availability of untax...
PSX recovers on US-Iran diplomatic signals
Pakistan's stock market on Tuesday surged over 5,000 points as investors drew strength from the talk of global calm despite failure of US-Iran talks on ending the Middle East war. The rally reflected expectations of potential resumption of diplomatic engagements between the US and Iran, which revived hopes of a de-escalation in the conflict that had shaken global financial markets. At 9:39 am, the benchmark KSE-100 index was hovering around 164,322, with handsome gains of 3,731 points, or 2...
IMF cuts 2026 global growth forecast on Mideast war
The International Monetary Fund (IMF) cut its 2026 global growth projection on Tuesday, warning that the world economy could be “thrown off course” by war in the Middle East — as the conflict roils commodity markets and sparks higher prices. The global economy is set to grow by 3.1 per cent this year, said the IMF in its World Economic Outlook report, released during its spring meetings in Washington. This is down from 3.3pc forecast in January bef...
SECP grants Buy Now Pay Later licence to Alibaba-owned Koko Tech Pakistan
The Securities and Exchange Commission of Pakistan (SECP) on Tuesday said it had granted a Buy Now Pay Later (BNPL) licence to Alibaba-owned Koko Tech Pakistan Pvt. Ltd (KTPL). “The entry of Alibaba-backed KTPL marks a significant milestone for Pakistan’s digital financial ecosystem,” it said in a press release. The press release further stated: “One of the world’s leading e-commerce and technology companies, Alibaba’s move into Pakistan reflects g...
Dinner for few: Australians eating out less as fuel crisis deals biggest blow to consumer confidence since Covid
Experts say ‘cautious consumption’ shows households bracing for return to extended period of financial pressure experienced during pandemic yearsGet our breaking news email, free app or daily news podcastAustralians are choosing chicken schnitzel over more expensive rib-eye steak, avoiding entrees and sticking with tap water rather than a glass of wine amid ongoing uncertainty surrounding the fuel crisis and war in Iran.As soon as the numbers on the petrol bowser started climbing last month as t...
Energy secretary predicts energy prices may rise, hit peak in ‘next few weeks’
Energy Secretary Chris Wright said Monday that he expects gasoline prices to peak in the next few weeks. “We’re going to see energy prices high and maybe even rising until we get… meaningful ship traffic through the Straits of Hormuz,” Wright said during Semafor’s World Economy event in Washington, D.C. “That’ll probably hit the peak oil price…
Analyst Warns That Oil Prices Threaten Banks
JP Morgan’s earnings look strong, but the real story is beneath the surface says Baird Senior Research Analyst David George. He joined Bloomberg Open Interest to break down why net interest income fears are overblown, why trading gains won’t last, and the one macro risk investors should actually watch: rising oil prices and the ripple effect on consumers and corporate margins. (Source: Bloomberg)
Vinted sales surge to near £1bn as second-hand shopping stays on trend
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North Sea oil price rises to record high amid tension over ceasefire
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Mamdani's government-run grocery stores will fail 'like every socialist experiment': economist
New York City Mayor Zohran Mamdani announced plans to open the city’s first government-run supermarket in East Harlem next year, a move critics warn could cost taxpayers millions and undercut nearby private grocers.Mamdani vowed during an address celebrating his first 100 days in office Sunday that the city will have five government-run grocery stores by the end of his first term on Jan. 1, 2030, falling in line with promises made during his campaign."I was elected as a Democratic Socialist, and...
ECB's Lagarde on Iran War's Economic Impact, Rates and AI
European Central Bank President Christine Lagarde discusses the impact of the war in Iran and AI on the euro-zone economy with Bloomberg's Francine Lacqua at the IMF’s spring meetings. (Source: Bloomberg)
Zelenskyy announces 'the future is here' after war's first all-robot capture
Ukrainian President Volodymyr Zelenskyy announced Monday that Ukraine had captured a Russian position using an entirely unmanned robot ground force."For the first time in the history of this war, Ukrainian warriors captured an enemy position using exclusively unmanned platforms," he said during a speech to weapons manufacturers on Ukraine's Arms Makers' Day."The future is here, on the battlefield, and Ukraine is creating it," he said in a video posted to X by a Ukrainian journalist.The offensive...
US टैरिफ हुआ कम... भारत ने किया कमाल, IMF ने बढ़ाया ग्रोथ का अनुमान
US IMF
Bessent Warns on Global Imbalance, China Trade Surplus
US Treasury Secretary Scott Bessent said, “the world cannot take a China with a trillion-dollar trade surplus,” as he spoke Tuesday about the “slow motion buildup of trade imbalances” at an Institute of International Finance event. (Source: Bloomberg)
UK economy faces hardest hit of G7 from Iran war says IMF as growth forecast cut
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Gunvor Founder Törnqvist Got Over $1 Billion Upfront in Buyout
Gunvor Group’s outgoing owner Torbjörn Törnqvist received over $1 billion in upfront payments as part of a hasty sale of his company to its management, according to documents seen by Bloomberg News.
Lagarde Says EU Economy Between ECB Baseline, Adverse Scenarios
European Central Bank President Christine Lagarde says the euro-zone economy has moved away from the central bank's Iran war base case, though not enough to currently warrant leaning toward raising interest rates. She speaks with Bloomberg's Francine Lacqua at the IMF’s spring meetings. (Source: Bloomberg)
IMF lowers 2026 global growth forecast as war threatens oil supply, inflation
Dubai: The International Monetary Fund has lowered its global growth forecast for 2026, warning that the war in the Middle East has disrupted what had been a stronger economic recovery and could cause more serious damage if energy supplies from the Gulf are hit harder.In its latest World Economic Outlook, released at the Spring IMF Meetings, the Fund lowered its forecast for global growth this year to 3.1 per cent, down from its earlier January estimate, and said inflation is now expected to ris...
War is over for Wall Street, while oil drags down bonds and gold
As the conflict in the Middle East edges towards its eighth week, financial markets are starting to diverge. US stocks have wiped out all the losses incurred since the start of the war, but oil prices are still punishingly high, dragging on both government bonds and gold. There are dramatic disparities in emerging markets too. Brazilian markets have surged and China’s have seen healthy inflows, but a number of smaller, energy-dependent economies are struggling. “The US can manage a...