KARACHI: The continued lacklustre behaviour prevailed in the local equity market.Investors remained disinterested as no positive measure is ex

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LONDON: Oil prices on Thursday tumbled under $58 a barrel, reaching the lowest level for nearly 21 months as recession fears gripped markets, traders

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Suicide bombers struck two targets in northwest Pakistan on Thursday, including a gathering of tribal leaders, leaving at least 24 dead, according to local officials and state-run media.

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Pakistan News

ISLAMABAD, Pakistan — Violence engulfed Pakistan’s northwest Thursday, as anti-government insurgents staged suicide bombings against local counterinsurgents, killing at least 20. Meanwhile, the government said it had killed 15 insurgents in an aerial bombardment.

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LAHORE: Real estate rates are under pressure, as entrepreneurs are trying to offload their assets to remain afloat or convert the assets into dollars.

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IslamabadThe union of bus and wagon owners has announced a decrease in the fares of buses and wagons from Rs12 to Rs10 that is to come into ef

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WASHINGTON: The International Monetary Fund on Thursday forecast advanced economies would contract next year for the first time since World War II and called for government spending to battle the global financial crisis. In sharp downward revisions to its last economic projections made less than a month ago, the IMF said the advanced economies were now seen shrinking by 0.3 percent in 2009, instead of the prior estimate of 0.5 percent growth. It lowered its global economic growth forecast by 0.8 point to 2.2 percent. “Prospects for global growth have deteriorated over the past month, as financial sector deleveraging has continued and producer and consumer confidence have fallen,” the IMF said. “In advanced economies, output is forecast to contract on a full-year basis in 2009, the first such fall in the post-war period,” the 185-nation financial institution said in an update of its October World Economic Outlook (WEO) report. The IMF said the downturn in advanced economies would be “broadly comparable in magnitude” to recessions in 1975 and 1982, but that “a recovery is projected to begin late in 2009.” Next year almost all the advanced economies would contract: the United States (0.7 percent), Japan (0.2 percent) the eurozone (0.5 percent) and Britain (1.3 percent). Only Canada would resist the downturn, with 0.3 percent growth. “Our forecasts are based on current and currently announced policies. It is likely that policies will be more expansionary than we assume,” IMF chief economist Olivier Blanchard said at a news conference. “We”ll advocate at the G20 a global fiscal expansion,” Blanchard said. IMF managing director Dominique Strauss-Kahn is to attend a finance chiefs meeting of the Group of 20 rich and emerging countries this weekend in Sao Paulo, ahead of a G20 summit convened by US President George W. Bush on November 15 in Washington.”There is a clear need for additional macroeconomic policy stimulus relative to what has been announced thus far, to support growth and provide a context to restore health to financial sectors,” the IMF said.

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RawalpindiLack of special academic institutions have forced many disabled students to get admission in regular colleges for HSSC and BA studie

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Pakistan News

IslamabadForeigners settled in the federal capital have expressed happiness over the election of Barack Obama, the first Afro-American preside

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Driving after dark offers a different set of dangers than driving during the day, so extra care should be taken to prevent accidents. Try thes

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