The International Monetary Fund’s (IMF) role is to help countries recover from financial crises by offering them loans, albeit with the caveat of imposing structural programmes, which is where the controversy begins. The 1997 Asian Financial Crisis was a convoluted region-wide crisis. Thailand, Singapore, Malaysia, Indonesia and South Korea operated in a hot-money bubble in the 1980s and 1990s:
Things got pretty exciting for Pakistan’s freelance community as the State Bank introduced a new framework allowing them to open the Exporters’ Special Foreign Currency Account to retain their dollars. In a similar vein, Sadapay made a big splash when they announced integrating with Apple Pay and GPay, enabling freelancers to get paid directly into their wallets. The product seems to be pretty
The caretaker Punjab government is all set to present its second four-month budget of the ongoing financial year 2023-24 before the cabinet, led by Chief Minister Mohsin Naqvi, on Monday (today). Earlier in June, the caretaker government had presented its first four-month — July-October — budget to the tune of Rs1.72 trillion after having spent the remaining six months’ budget (January-June 20
Lucky Cement Ltd reported on Monday its unconsolidated earnings for July-September amounted to Rs6.9 billion, up 80 per cent year-on-year. However, its consolidated earnings surged 179pc to Rs19.3bn on an annual basis. Arif Habib Ltd said the increase in consolidated income was attributable to higher revenue from cement operations, Lucky Electric Power Company and Lucky Core Industries Ltd.
Oil slipped more than three per cent on Monday with US crude oil futures falling more than $3 a barrel as fears eased about the Israel’s war on Gaza disrupting supply from the region and as investors grew cautious ahead of this week’s US Federal Reserve meeting. Brent crude futures fell $2.90, or 3.21 per cent, to $87.58 a barrel by 10:32am CDT (1532 GMT), while US West Texas Intermediate crude