WASHINGTON: The World Bank has approved a four-year over $6 bn lending program for Pakistan that seeks to boost tax revenues, make energy supplies more reliable and improve conditions in conflict-hit areas.
While the lending strategy from 2010 to 2013 is slightly less than the $6.5bn committed during the last four-year period, the program hones in [...]
LONDON: World markets climbed Thursday on hopes that the global economy will recover faster than expected and as investors prepared for a European Central Bank interest rate meeting.
The International Monetary Fund raised its 2010 world growth forecast to 4.6 percent from 4.2 percent in April and boosted estimates for the United States and China.
In Europe, [...]
SINGAPORE: Oil prices climbed to near $75 a barrel Thursday in Asia, extending big gains from the previous session as global stock markets rallied.
Benchmark crude for August delivery was up 73 cents to $74.80 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose $2.09 to settle [...]
BEIJING: The world economy is recovering faster than expected but Europe’s debt crisis has increased financial risks and governments urgently need to rebuild shaky public confidence, the International Monetary Fund said Thursday.
The Washington-based IMF raised its 2010 world growth forecast to 4.5 percent from 4.1 percent in April. Its U.S. growth forecast rose from 2.7 [...]
TOKYO: Asian markets rose Thursday as investors took heart from U.S. bank State Street’s robust profit forecast and scooped up stocks battered down by days of selling.
Sentiment turned upbeat across Asia after the Dow Jones industrial average surged 274.66 points, or 2.8 percent, to 10,018.28 on Wednesday. The State Street profit forecast boosted financial stocks [...]
