US Treasury Secretary Janet Yellen said last week that the United States will likely hit the $31.4 trillion statutory debt limit on Jan 19, forcing the Treasury to launch extraordinary cash management measures that can likely prevent default until early June. “Once the limit is reached, Treasury will need to start taking certain extraordinary measures to prevent the United States from defaultin
Oil prices dipped in early Asian trade on Monday, but held close to the highest levels since the start of the year on optimism that China’s reopening will lift fuel demand at the world’s top crude importer. Brent crude fell 36 cents, or 0.4 per cent, to $84.92 a barrel by 0116 GMT while US West Texas Intermediate crude was at $79.65 a barrel, down 21 cents, or 0.3pc amid thin trade during a US
Barely two in five people believe their families will be better off in the future, according to a regular global survey that also identified growing levels of distrust in institutions among low-income households. The Edelman Trust Barometer, which for over two decades has polled the attitudes of thousands of people, found that economic pessimism was at its highest in some of the world’s top eco
Pakistan’s average productivity growth remained just 1.5 per cent from 2010 to 2020, significantly low to achieve the required GDP growth rate of around 7-8pc on a sustainable basis, a new study shows. The study — titled Sectoral Total Factor Productivity in Pakistan and conducted by the planning ministry and the think tank Pakistan Institute of Development Economics (PIDE) — says that the grow
Stocks traded in a narrow range on Wednesday before slipping below the preceding day’s close after investors chose to book profits. Arif Habib Ltd said the benchmark index stayed in the positive zone for the most part of the trading session. Renewed interest was witnessed in the last trading hour following a press conference by the prime minister and his cabinet members. The finance minister hi