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Govt fails to meet targeted growth rate for third consecutive year

ISLAMABAD: The federal government failed to meet the targeted growth rate for the third time consecutively in its tenure, ARY News reported.

Poverty rising in Europe, amid global dearth of solid jobs: ILO

GENEVA: A growing number of Europeans are living in "relative poverty", the UN labour agency said Wednesday, warning that a lack of quality jobs worldwide was threatening to undo decades of progress in poverty reduction.

Japan economy returns to growth, avoids recession

TOKYO: Japan sidestepped a recession after its economy grew in the first quarter, preliminary data showed Wednesday.

Senior IMF official visits Iran

WASHINGTON: The International Monetary Fund (IMF) said Sunday that its second in command was on a two-day visit to Iran for discussions on economic developments.

Colombia’s illegal mining linked to malaria outbreak

BOGOTA: Colombia's widespread illegal mining is blamed for causing environmental damage and holding workers in slave-like conditions -- and now is also being blamed for a malaria outbreak.

No. of broadband subscribers in Pakistan rises to 26 million

ISLAMABAD: The number of broadband subscribers in the country crossed 26 million and the broadband penetration has increased the from less than 3% to over 15%.

Russian GDP fell 3.7% in 2015: state statistics agency

MOSCOW: Russia's gross domestic product (GDP) fell 3.7 percent in 2015 as the country's energy-dependent economy reeled from low oil prices, the state statistics agency said on Monday, citing preliminary data.

Record three million people visited Qatar in 2015

DOHA: Almost three million people visited Qatar in 2015, a record number for the energy-rich Gulf country, its tourism authority said on Sunday.

IMF urges European Union to open jobs market quickly to refugees

WASHINGTON: The tide of Middle East refugees should boost European economic growth over the short term, but their longer-term impact will depend on efforts to integrate them, the IMF said Wednesday.

China’s economy grew by around 7 pct in 2015, services made up half of GDP – Premier

BEIJING: China's gross domestic product (GDP) totaled more than $10 trillion in 2015 and the economy grew by around 7 percent, with the services sector accounting for half of GDP, Premier Li Keqiang said on Saturday.

India’s economy grows 7.4 percent, outperforms China: govt

NEW DELHI: India's economy grew by 7.4 percent year-on-year in the last quarter, official figures showed Monday, outperforming China and giving Prime Minister Narendra Modi a boost following a recent election drubbing.

World Bank forecasts 4.5 pct GDP growth this year

WASHINGTON: Despite increasing fears Pakistan gross domestic product growth (GDP) is expected to grow 4.5 percent in the current fiscal year, the World Bank said in an assessment.

Pakistan’s economic growth hamstrung by low tax collection, says report

ISLAMABAD: Despite recent optimism surrounding Pakistan's economy, the country is facing an "existential crisis" stemming from its woeful tax collection rates and inability to finance itself, a report said Wednesday.

Govt suggested measures for spending 4% of GDP on education

ISLAMABAD: The government of Pakistan has made promises, on more than one occasion, to spend four percent of its GDP for education, but the commitment never materialized for various reasons.

Pakistan has excellent infrastructure for investment: Dastagir

ISLAMABAD: Federal Minister for Trade and Commerce Khurram Dastagir Khan has said that Pakistan is looking for new markets for services export, ARY News reports.

Budget to be announced on 5th June

ISLAMABAD: The budget for 2015-2016 will be announced on Friday 5th June 2015, ARY News reports.

Weaknesses in the economy still persist, says SBP

KARACHI: State Bank of Pakistan (SBP) has pointed out in its second quarterly report that the weaknesses in the national economy still persist, ARY News reports.

Pakistan’s GDP to grow by 5.7 percent this year

KARACHI: Pakistan's gross domestic product is expected to grow by 5.7 per cent in 2015, according to a report in the prestigious magazine The Economist.

Govt moves to widen tax net, but big fish yet to be caught

ISLAMABAD: Pakistan has begun chasing wealthy tax-dodgers who enjoy lives of extravagance and luxury, but revenue officials face huge challenges in trying to force the very richest -- and most influential -- to pay up.

EU trade deal boosts Pakistan exports by $1bn: minister

ISLAMABAD: Pakistani exports to the European Union increased by more than a billion dollars after a landmark trade deal last year which made its products more competitive, the commerce minister told AFP.
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