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Economics

Inflation eases to 3.81 percent in November

ISLAMABAD: Pakistan's annual inflation rate fell to 3.81 percent in November from 4.21 percent in October, mainly fueled by food prices, the Bureau of Statistics said on Thursday. On a month-on-month basis, prices increased by 0.21 percent in November compared with October, the bureau said. Average inflation for the July-November period stood at 3.92 percent, compared with the same period last year.  The steepest rise in year-on-year prices was seen in the prices of garlic, gram, pulses and potatoes. The steepest drop…

What would Alfred Nobel say about prize for finance?

STOCKHOLM: The Nobel prize in economics, to be announced on Monday, has increasingly honoured research in the field of finance -- a subject which, observers note, is far from founder Alfred Nobel's philanthropic ideals. The economics prize has always been set apart from the other Nobel awards, and the subject of much controversy: unlike the other awards, which were created in Nobel's 1895 will, the "Prize in Economic Sciences in Memory of Alfred Nobel" was devised by the Swedish central bank in 1968 to mark its…