The 35-day closure of the Torkham border has left thousands jobless across Pakistan’s northwest. The shutdown followed attacks on Pakistani security posts in mid-October. Traders now warn of economic collapse, rising crime, and worsening poverty. Pakistan closed all major crossings with Afghanistan after the Taliban attacks on October 11 and 12. The move halted […]
economic slowdown
Gold Eighth Weekly Gain on Rate Cut Bets and Geopolitical Tensions
SINGAPORE – Gold prices held steady below the $4,000 per ounce mark on Friday, poised to log their eighth consecutive weekly gain as global investors weighed geopolitical tensions, inflation pressures, and growing expectations of more US rate cuts. At 0514 GMT, spot gold slipped 0.1% to $3,971.43 per ounce, while US gold futures for December […]
Despite China’s economic slowdown, US not to enter recession: Janet Yellen
US Treasury Secretary Janet Yellen has stated that, despite weaker growth in China, the US economy is not anticipated to enter a recession and is on a “good path” to reduce inflation. Yellen stated in an interview with Bloomberg from India on Monday, during a meeting of Group of 20 financial officials, that the US […]
Pakistan’s cement sector continues to suffer on economic slowdown
Cement sector, sitting on huge unutilized capacities, continued to suffer from lack of domestic demand due to slowing down in growth, lower development spending and delay in launch of government’s ambitious low cost housing scheme. Cement consumption is usually at its peak in the month of March as construction activities peak due to pleasant weather […]