The collapse of Credit Suisse, a 167-year-old institution, is a more significant event for the global financial system than the collapse of Lehman Brothers during the 2008 global financial crisis. Lehman failed since it had losses on bad investments and did not have sufficient capital. Credit Suisse on the other hand was stable and had sufficient capital. It failed due to a run on its deposi
It may sound counter-intuitive, but research shows the likelihood of unemployment in Pakistan grows in proportion to the level of education. A poorly developed labour market that’s unable to accommodate a rapidly growing number of educated workers has led to a high graduate unemployment rate. A recent research paper written by Henna Ahsan and Muhammad Jehangir Khan of the Pakistan Institute
Mobile phones worth $7.19 million have been imported illegally without opening the letters of credit (LCs) or utilising the banking channel, disclosed a report of the Federal Board of Revenue (FBR) on Saturday. A senior official of FBR said despite an unannounced ban on the import of mobile phones and their accessories by the State Bank of Pakistan (SBP), 52 Goods Declarations (GDs) worth $8.65
Finance Minister Ishaq Dar on Saturday said he had cancelled his trip to Washington for the spring meetings of the International Monetary Fund and World Bank on the prime minister’s orders, due to the political turmoil in Pakistan. However, he assured the nation that the IMF deal was on track and the government had already done all that was required from it to conclude the ninth review of th
Barely a year ago, there was optimism all around whenever you talked to people from the startup ecosystem. Coming on the back of a stellar 2021 — that saw investment surge more than 5x — the ecosystem was flush with a high. It continued into the first quarter of 2022, giving the impression that our moment is here to stay. Only to become what seems like a blip now. There were already glaring sig