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Washington: India received $120 billion in remittances in 2023, almost twice the $66 billion received by Mexico in the same period, the World Bank said in a report released on Wednesday. China ($50 billion), the Philippines ($39 billion), and Pakistan ($27 billion) figure among the top five nations in the list released by the World…
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Adani Ports has seven located ports and terminals on the western coast and eight on east. Ahmedabad: Adani Ports and Special Economic Zone Limited (APSEZ) on Wednesday said four of its ports have been featured in the prestigious ‘Container Port Performance (CPP) Index 2023’, developed by the World Bank and S&P Global Market Intelligence. While…
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Representational image only. | Photo Credit: AFP Pakistan has decided to seek a rollover of around $12 billion debt from key allies such as China in the 2024-25 fiscal year to meet a whopping $23 billion worth of gap in its external financing as the federal government aims to achieve budget targets before the expected…
Puja Yadav at her ‘Jobless Chai Wali’ stall in Lucknow Lucknow: Not paid salary for three months and after a futile search for another three, a 25-year-old woman, a graduate, hit upon an idea for a start-up. A tea stall. She named it ‘Jobless Chai Wali’. “I appeared for jobs, but it was difficult to…
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Economic activity is subdued in Pakistan, the World Bank noted. Representational | Photo Credit: Reuters The World Bank has painted a grim economic picture of Pakistan in its biannual report, cautioning that over 10 million more people are at risk of descending into poverty in the cash-strapped country. The Washington-based lender’s apprehension comes from a…
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World Bank says over 10 million more people are at risk of descending into poverty in Pakistan Islamabad: The World Bank has painted a grim economic picture of Pakistan in its biannual report, cautioning that over 10 million more people are at risk of descending into poverty in the cash-strapped country. The Washington-based lender’s apprehension…
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Reserve Bank of India Governor Shaktikanta Das. File | Photo Credit: EMMANUAL YOGINI “With India’s current account deficit (CAD) declining sharply to 1% of GDP in Q2:2023-24 from 3.8% in Q2:2022-23,” RBI Governor Shaktikanta Das on February 8 said going ahead, the net balance under services and remittances would remain in large surplus, partly offsetting the trade deficit. …
Read More “RBI Governor Shaktikanta Das: CAD for 2023-24, 2024-25 to be eminently manageable” »
Over 8,000 people have died in Gaza since war with Israel (File) Washington: The war between Israel and Hamas could trigger price shocks for raw materials such as oil and agriculture products if the conflict escalates across the Middle East, the World Bank warned in a report Monday. Oil has already risen six percent since…
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World Bank President Ajay Banga. File. | Photo Credit: Reuters World Bank President Ajay Banga said on October 24 that geopolitic tensions pose the biggest threat to the world economy, but that risks “tend to move around” fast, so others should not be ignored. “The U.S. 10-year Treasury [yield] just crossed 5% briefly yesterday, these…
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The World Bank’s chief economist warned Wednesday that interest rate hikes could spell trouble for countries struggling to deal with debt. The U.S. Federal Reserve, the European Central Banks and others have raised rates and warned that they could remain high longer than expected in order to bring down elevated inflation. The International Monetary Fund…
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