Notwithstanding a relatively better global outlook, the International Monetary Fund (IMF) on Tuesday maintained Pakistan’s economic growth prospects for the current fiscal year at two per cent, which it had revised downward in January from its previous estimate of 2.5pc. In its flagship World Economic Outlook (WEO 2024), released on Tuesday, the IMF kept the country’s growth rate at 3.5pc for t
US President Joe Biden on Wednesday urged a tripling of tariffs on Chinese steel and aluminum, citing “unfair competition” as he seeks to win blue-collar votes in November’s election. Biden’s call comes as the US Trade Representative (USTR) announced it is launching a probe into China’s trade practices in the shipbuilding, maritime and logistics sectors in response to a recent petition by five
Finance Minister Muhammad Aurangzeb has held meetings with the presidents of the World Bank (WB) and the Asian Development Bank (ADB), in which the former assured his full support for reforms to stabilise the economy and enhance revenues. The minister is currently in Washington to attend the spring meetings organised by the International Monetary Fund (IMF) and the WB. In a post on X early W
Pakistan Stock Exchange (PSX) on Tuesday recorded its first decline following six consecutive positive sessions over institutional profit-taking coupled with uncertainty surrounding talks with the International Monetary Fund (IMF) for a new loan programme and geopolitical tensions. Earlier, trading commenced on a robust note, with the KSE-100 index surging to the intra-day high of 71,092.61 poi
Attock Cement announced on Tuesday the addition of a new production line with an installed capacity of 1.27 million tonnes per annum, expanding the country’s idle capacity at a time when construction activities have remained slow amid elevated inflation and record-high interest rates. The output capacity of the manufacturer of the Falcon brand has risen to a cumulative 4.30 million tonnes per y