Pakistan’s trade deficit widened more than expected last month as imports surged, adding strain to the fragile economy and thin foreign exchange reserves. Trade deficit rose to $4.07 billion in April, according to the Pakistan Bureau of Statistics data released Tuesday. That compares with a $2.99 billion deficit forecast by economists in a Bloomberg survey and a revised reading of $2.84 billion in...
Pakistan’s trade deficit widened more than expected last month as imports surged, adding strain to the fragile economy and thin foreign exchange reserves. Trade deficit rose to $4.07 billion in April, according to the Pakistan Bureau of Statistics data released Tuesday. That compares with a $2.99 billion deficit forecast by economists in a Bloomberg survey and a revised reading of $2.84 billion in March. A surge in imports widened the deficit, adding pressure on the South Asian economy as volatile global oil prices — amid the Middle East crisis — drive up costs for Pakistan, which relies heavily on imported energy. Inbound shipments rose 7.4% to $6.55 billion in April from a year earlier. A wider deficit will put pressure on the currency and weaken the nation’s forex stockpile. Last month, Pakistan secured $3 billion in financial support from Saudi Arabia, a move that helped shore its buffers and aided loan repayments. Pakistan reserves currently stand at $15.8 billion as of April 24.
Communities secretary Steve Reed urges MPs not to move against Keir Starmer and says most people are ‘sick and tired of all this psychodrama’ Labour should not be “doomscrolling” through leaders like the Conservatives, the communities secretary, Steve Reed, has said, urging MPs not to move against Keir Starmer after the May elections. MPs who fear Starmer cannot lead the party into the next genera...
Communities secretary Steve Reed urges MPs not to move against Keir Starmer and says most people are ‘sick and tired of all this psychodrama’ Labour should not be “doomscrolling” through leaders like the Conservatives, the communities secretary, Steve Reed, has said, urging MPs not to move against Keir Starmer after the May elections. MPs who fear Starmer cannot lead the party into the next general election because of his unpopularity are understood to have been discussing whether to lay out a timetable for his departure to present to the prime minister. Continue reading...
Key PointsThe benchmark S&P 500 and tech stock-driven Nasdaq Composite launched to record highs last week -- but their monumental run-ups may be put to the test by surging inflation.
Key PointsThe benchmark S&P 500 and tech stock-driven Nasdaq Composite launched to record highs last week -- but their monumental run-ups may be put to the test by surging inflation.
Social Security benefits receive an annual cost-of-living adjustment (COLA) to help retired workers keep up with rising prices. The latest forecasts from The Senior Citizens League (TSCL) and Congressional Budget Office put the 2027 COLA at 2.8% and 3.1%, respectively. But those numbers are starting to look woefully low. Inflation increased dramatically in March due to soaring energy prices tied t...
Social Security benefits receive an annual cost-of-living adjustment (COLA) to help retired workers keep up with rising prices. The latest forecasts from The Senior Citizens League (TSCL) and Congressional Budget Office put the 2027 COLA at 2.8% and 3.1%, respectively. But those numbers are starting to look woefully low. Inflation increased dramatically in March due to soaring energy prices tied to the Iran conflict, and damaged oil infrastructure would likely keep prices elevated even if the two sides reach a resolution tomorrow. If inflation continues to worsen through the summer, Social Security benefits will get a much larger COLA than current projections imply. Image source: Getty Images. Continue reading
Celestica rides the AI data center boom, boosting guidance as earnings and revenue are set to more than double by 2027 amid surging hyperscaler demand.
Celestica rides the AI data center boom, boosting guidance as earnings and revenue are set to more than double by 2027 amid surging hyperscaler demand.
Inflation in Mauritius may breach the upper limit of the central bank’s target range this year as prolonged conflict in the Middle East raises the cost of imported goods, Bank of Mauritius Governor Priscilla Muthoora Thakoor said. In February, the bank forecast average annual inflation — the bank’s preferred measure of prices — of 3.6% by year-end. With the costs of fuel and freight increasing bec...
Inflation in Mauritius may breach the upper limit of the central bank’s target range this year as prolonged conflict in the Middle East raises the cost of imported goods, Bank of Mauritius Governor Priscilla Muthoora Thakoor said. In February, the bank forecast average annual inflation — the bank’s preferred measure of prices — of 3.6% by year-end. With the costs of fuel and freight increasing because of the ongoing war, inflation may hit 5%, Thakoor said in an interview before the monetary policy committee meets on May 20 to discuss its interest-rate stance. “As the war drags on, we might be looking at inflation rates that are closer to the upper bound of our target range,” she said in the capital, Port Louis, on Monday. “By end of the year, there’s a chance we might exceed the 5% for the headline CPI inflation if the conflict is prolonged or escalates.” The Indian Ocean island nation’s central bank has maintained inflation within its preferred band of 2% to 5% for the past eight months, after the rate peaked at 12.2% in December 2022 in the wake of Russia’s invasion of Ukraine. After the onset of the Iran war on Feb. 28, Mauritius hiked prices of gasoline — the first time it’s done so since October 2023 — and the retail cost of diesel soared to a record. In addition, the state-owned Central Electricity Board will apply a 15% increase in tariffs this month. An economist who previously worked for 16 years at the International Monetary Fund, Thakoor joined the central bank in September and will chair her third rate-setting meeting later this month. The MPC kept the benchmark measure unchanged at 4.5% in November and February. Read More: Mauritius Central Bank Leaves Key Interest Rate at 4.5% The committee’s decision on policy “will be guided by what’s happening on inflation, the growth outlook and developments in the economy,” Thakoor said. “Prudent. That’s the way to summarize our approach.” An Indian Ocean island nation of 1.2 million people, Mauritius is a net imp...
In this article INR= Follow your favorite stocks CREATE FREE ACCOUNT NEW DELHI, INDIA - MAY 04: Bharatiya Janata Party (BJP) leader and Indian Prime Minister Narendra Modi (C) greets people as he arrives at the party headquarters to deliver a victory speech, in New Delhi, India on May 04, 2026. The BJP has emerged victorious in the tally of the West Bengal and Assam state assembly election results...
In this article INR= Follow your favorite stocks CREATE FREE ACCOUNT NEW DELHI, INDIA - MAY 04: Bharatiya Janata Party (BJP) leader and Indian Prime Minister Narendra Modi (C) greets people as he arrives at the party headquarters to deliver a victory speech, in New Delhi, India on May 04, 2026. The BJP has emerged victorious in the tally of the West Bengal and Assam state assembly election results. (Photo by Imtiyaz Khan/Anadolu via Getty Images) Anadolu | Anadolu | Getty Images Indian Prime Minister Narendra Modi's Bharatiya Janata Party achieved a historic election win in West Bengal on Monday, strengthening its grip on power as the country grapples with economic challenges and a pressing need for reforms. Modi's popularity was seen to be waning when, in June 2024, his party failed to secure an outright majority in the national polls and had to form a coalition government for his third term as prime minister. Since then, the Indian government has been spending money on populist welfare schemes and, more recently, on fuel subsidies , but reinforcement of Modi's political popularity could provide room to rationalize some of that spending, experts said. The latest results of state polls have dispelled worries of Modi losing political momentum as the BJP won 206 seats out of 294 in West Bengal, forming its first-ever government at the state level. In a post on X following the results, Modi declared : "The Lotus Blooms in West Bengal!" a nod to his party's symbol. "People's power has prevailed and BJP's politics of good governance has triumphed," he said. Out of the 11 state elections since 2024, the BJP and its allies have retained power in four states and gained power in two others, reflecting "continued popularity of PM Modi and his party," global brokerage Citi noted in a note on Monday. "Markets would hope that a strong political mandate and easier coordination with state [governments] will facilitate better implementation of various policy and process reforms," C...
The Prison Law. Photo: VCG China has comprehensively overhauled its Prison Law for the first time in 13 years, explicitly writing the protection of human rights into the statute’s general provisions and shifting the focus of the penal system toward rehabilitating offenders. The Standing Committee of the National People’s Congress passed the revised legislation on Thursday. Scheduled to take effect...
The Prison Law. Photo: VCG China has comprehensively overhauled its Prison Law for the first time in 13 years, explicitly writing the protection of human rights into the statute’s general provisions and shifting the focus of the penal system toward rehabilitating offenders. The Standing Committee of the National People’s Congress passed the revised legislation on Thursday. Scheduled to take effect on Nov. 1, the new law represents a significant expansion, growing from 78 articles in seven chapters to 121 articles across eight chapters.
Amazon is leveraging its global supply chain to directly challenge legacy carriers, a strategic pivot that unlocks a significant and disruptive new revenue stream.
Amazon is leveraging its global supply chain to directly challenge legacy carriers, a strategic pivot that unlocks a significant and disruptive new revenue stream.