The International Monetary Fund approved the third review of Sri Lanka’s $2.9 billion bailout on Saturday but warned that the South Asian economy remains vulnerable. In a statement, the IMF said it would release about $333m, bringing total funding to around $1.3bn, to the crisis-hit nation. It said signs of an economic recovery were emerging. The country still needs to complete a $12.5bn bo
Exports of non-textile products rose by 17.66 per cent to $4.73 billion in the first four months of the current fiscal year, up from $4.02bn during the same period last year, largely driven by the growth of value-added products. The main driver of non-textile product exports is raw food items and a few value-added products, including leather, footwear and engineering, during 4MFY25, from a year
Despite placement of containers on main arteries between Rawalpindi and Islamabad, Saturday remained normal in the garrison city. However, uncertainty prevailed in the downtown and cantonment areas ahead of the protest on Sunday. A senior official of the local administration told Dawn that placing containers at some entry points of the city was a preventive measures to avoid any untoward situat
The global value added by agriculture, forestry and fishing grew by 89 per cent in real terms between 2000 and 2022, reaching $3.8 trillion in 2022, according to an FAO report. Given its size, Asia was the main contributor to global agriculture, forestry and fishing value-added with 6pc of the world total in 2022: the continent’s value added more than doubled from $1.2tr in 2000 to $2.5tr in 20
President-elect Donald Trump’s choice of Scott Bessent for Treasury secretary could lift some of the gloom that has pervaded the sagging US government bond market in recent weeks, investors said. Trump on Friday said he had chosen Bessent, a prominent investor, as Treasury secretary, a key cabinet position with vast influence over economic, regulatory and international affairs. The selection