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Global economy in 2019: Growth beginning to fray

American farmers have been forced to warehouse a bumper crop of soybeans, or sell at a loss, while a Midwest medical supply company is considering shipping production overseas amid growing uncertainty. Surveys of US business and consumer sentiment continued to show economic optimism going into next year but cracks are beginning to form -- in the United States and around the world -- with President Donald Trump's trade conflict the major source of concern. The International Monetary Fund is forecasting respectable…

Advanced skills required in modern economy to alleviate poverty: president

ISLAMABAD: President Dr Arif Alvi on Sunday said education was mandatory for alleviating poverty as advanced skills would be required in the modern economy. Addressing a ceremony titled "Artificial Intelligence and Computing" in Karachi, he said fourth industrial revolution was coming in which machines will replace many jobs of humans. The president said components of fourth industrial revolution were enormous computing power, sensors and other sophisticated technologies. Dr Arif Alvi said people were earning their…

IMF warns trade tensions have worse hit to global economy

WASHINGTON: The impact of escalating trade tensions on global growth are worse than feared just one month ago, and threatened US auto tariffs could cut a large chunk out of the world economy, the IMF said Wednesday. Just last month, the International Monetary Fund warned of the dangers of the trade frictions -- notably between the United States and China, which have exchanged tariffs on hundreds of billions in products. But IMF chief Christine Lagarde said those headwinds "could have slowed momentum even more than we…

Govt taking all measures to revive country’s economy, says CM Buzdar

LAHORE: Chief Minister Punjab Usman Buzdar on Tuesday said the incumbent government has taken stern measures to put the country's 'derailed' economy back on the track, ARY NEWS reported. This he said while expressing his views in a meeting held with elected MPAs of the party hailing from Rawalpindi, who called on him here in Lahore. Federal Minister for Petroleum, Sarwar Khan also met the Chief Minister Buzdar. Talking to the visiting members of the Punjab Assembly, Buzdar said Pakistan Tehreek-e-Insaaf (PTI) is filled…

Corrective measures have been taken to revive economy: Khusro

ISLAMABAD: Minister for Planning and Development Makhdum Khusro Bakhtyar on Wednesday said the government had taken a number of corrective measures to revive the national economy and put it on path to sustained growth. Talking to the visiting IMF Mission led by Harald Finger, which called on him in Islamabad, he said the government was focusing on human resource development and job creation to protect and provide relief to marginalised segments of the society. The minister apprised the mission that viewing the economic…

Pakistan gets a boost of confidence but IMF bailout still on the cards

ISLAMABAD: Finance Minister Asad Umar’s bullish comments declaring the end of an economic crisis have bolstered confidence ahead of crunch talks with the International Monetary Fund (IMF) on Wednesday, but the country is still likely to need a bailout. Asad Umar said on Tuesday that “Pakistan’s immediate balance of payment crisis is over” without mentioning the talks with the IMF in Islamabad. Umar’s comments came after Prime Minister Imran Khan visited main allies Saudi Arabia and China last month. Khan secured $6…

Rupee devaluation to have positive impact on economy, Senate body told

ISLAMABAD: The Senate Standing Committee on Finance, Revenue, and Economic Affairs was informed on Tuesday that devaluation of Pak rupee would help boosting the country’s foreign exchange reserves with the increase in country’s exports and foreign remittances, and decline in imports, and current account deficit. “Although positive consequence have started surfacing due to the devaluation of Pak rupee but real positive consequences would be felt after around a year,” a representative of State Bank of Pakistan informed the…

Govt seems totally clueless about the economy, says Bilawal

KARACHI: Pakistan People’s Party (PPP) chairman Bilawal Bhutto Zardari said this government seems totally clueless about the economy and has no sense of direction. “This government has no sense of direction when it comes to the economy. Those who claimed that they will break the begging bowl and announced that they will not go to the IMF are now asking for the biggest loan in Pakistan’s history,” said Bilawal. He added that the PPP government faced the worst economic crisis when it came to power, but still managed to…

Govt to seek assistance from friendly countries to avoid going to IMF

ISLAMABAD: Spokesman on economy and energy issues Dr Farrukh Saleem has said that the government was trying to avoid going the International Monetary Fund (IMF) and was instead trying to seek assistance from friendly countries such as Saudi Arabia and China. Speaking to a private television channel, the spokesman said that Prime Minister Imran Khan’s upcoming visit to Saudi Arabia was a positive step in the right direction and would be beneficial for national and economic interests. PM Imran Khan is scheduled to visit…

China’s economic numbers show slowing down of economy

BEIJING: The government of China on Friday reported that the economy grew by 6.5 percent over the three months that ended in September compared with an year ago. The growth rate while fast by global standards, the pace is China’s slowest since early 2009, during the challenging times of the global financial crisis. Sputtering growth, soaring debt and an escalating trade war with the United States are being tipped as the causes of the slowing down of China’s economy. China has reported growth figures over the past…