EU debt crisis, timid global economy hit Dubai sharesDUBAI/CAIRO - Dubai’s shares fell to the lowest level in more than four months on concern Europe’s debt crisis is worsening and a slowing global economy will damp demand for oil from the Arabian Gulf. Egypt’s benchmark index retreated.
From miracle to crisisFor long, India’s policymakers took sturdy economic performance for granted. Double digit growth that would propel the country to economic super power status was almost regarded as preordained. The bubble is now being burst rather cruelly.
An app that lets you text like the QueenIn celebration of Queen Elizabeth’s Diamond Jubilee, a mobile app is adding a royal touch to emails, texts and tweets by suggesting words that the British monarch would be most likely to use.
World stocks fall on dismal US hiring reportWorld markets took a beating Monday as another setback for the US economic recovery sent investors fleeing from stocks.
Sony dips below 1,000 yen for 1st time since 1980Sony’s stock price fell below 1,000 yen Monday for the first time since 1980 as global markets slide but also a symptom of its decline since huge success with the Walkman three decades ago.
Pakistan targets growth, stabilityPakistan Finance Minister Dr Abdul Hafeez Shaikh claimed that the government had succeeded in presenting a “good and balanced budget” that will provide relief to the people.
Moody’s cuts Greek credit rating cap on euro exit riskSYDNEY - Greece had its highest possible credit rating lowered by Moody’s Investors Service, which said there’s an increasing risk the country may exit the euro region.
Reality with populist gimmicksAs the fear of losing the forthcoming national elections — because of its bad economic policies and misgovernance — stares them in their eyes, the government of President Asif Ali Zardari and Prime Minister Yusuf Raza Gilani has presented a budget which, sadly, comprises reality with populist gimmicks.
Expatriates come to the rescue of their motherlandOverseas pakistanis have come to help their motherland once again. While most economic indicators turned out to be negative, or hit by shortfalls, the only shining examples is overseas Pakistanis’ home remittances, which recorded a historic high.
Mixed reactions from businessmenPakistani professionals and businessmen in the UAE have criticised their country’s federal budget for 2012-13 due to its inability to address the main economic issues and increasing the number of taxpayers.