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Cold, dry weather to persist, forecasts meteorological department

KARACHI: Mainly cold and dry weather with party cloudy conditions is expected in most parts of the country in the next 24 hours, because of the prevalent continental air and shallow westerly wave, Pakistan Meteorological Department forecasted. Cold and cloudy weather with chances of drizzle at isolated places in Kohat and Rawalpindi divisions, Malakand, Hazara divisions, Kashmir and Gilgit-Baltistan is expected. Weather remained very cold and dry in most parts of the country during the past 24 hours. The lowest…

Pound jumps as BBC forecasts May to win vote

LONDON: The British pound jumped Wednesday after the BBC reported that a majority of Conservative Party lawmakers were set to back Prime Minister Theresa May in a no-confidence vote. At about 1330 GMT, sterling advanced to $1.2579, having earlier hit a fresh 20-month low at $1.2478. The pound recovered to 90.18 pence versus the euro. According to the BBC, May was set to win the vote with at least 158 Conservative MPs -- more than 50 percent of those eligible -- having pledged their support for the embattled premier. May…

China growth beats forecasts in face of trade row, financial risk

BEIJING: China's economy grew more than expected in the first quarter as it withstood headwinds from Beijing's fight against financial risk and pollution, and trade tensions with the United States. While acknowledging the potential negative impact of a US trade war officials on Tuesday warned the country faced greater downside risk at home, citing the need for reforms. The world's number two economy expanded 6.8 percent in January-March, better than the 6.7 percent tipped in an AFP survey of economists and the same as…

IMF raises global growth forecasts, calls for reforms

WASHINGTON: The International Monetary Fund on Tuesday bumped up its global growth forecasts, saying an upswing in the world economy would likely gather pace into next year. But the global crisis lender called on governments to strike while the iron was hot, saying dangers for the current recovery lurked on the horizon and ambitious reforms were necessary for continued poverty reduction. Global economic output should increase by 3.6 percent this year and by 3.7 percent in 2018, up marginally from forecasts…