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Results for “Economy” (117)

Alina Hashmi Posted in World

Al Zaidi asks world to 'invest with Iraq'

Prime Minister Ali Al Zaidi issued an appeal to invest in Iraq as he told the UN General Assembly of his push to stamp out corruption and lift the economy. "Here from the United Nations we say to the world: invest with Iraq. Iraq has resources, markets, a good location and the necessary will to build a new economy," he said. Mr Al Zaidi said his vision was for a strong state and "a diversified and modern economy". Iraqi authorities have made dozens of arrests in a series of startling… Read More…

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Syeda Mubeena Hashmi Posted in Politics

PM Says Pakistan Economy Stabilising as Growth Resumes

Prime Minister Shehbaz Sharif said Pakistan’s economy had stabilised and was moving towards growth while inviting US-based Pakistani business leaders to invest in the country. Speaking at a UN General Assembly meeting, he highlighted structural reforms and identified agriculture, mining, IT, artificial intelligence and energy as key investment areas. He also stressed that regional peace was essential for stronger business and investment ties. Read More…

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Syeda Mubeena Hashmi Posted in World

Bab al-Mandab Closure Could Hit Pakistan Trade

A potential closure of the Bab al-Mandab Strait could raise shipping costs, disrupt exports and add pressure to Pakistan’s economy. The 29-kilometre gateway connects the Red Sea with the Indian Ocean and is vital for trade through the Suez Canal. Any wider blockade could force vessels onto longer routes, causing delays and increasing transport costs for Pakistani businesses. Read More…

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Syeda Mubeena Hashmi Posted in World

Death Toll Feared to Rise After Ferry Fire

Firefighters entered the passenger ferry after extinguishing a blaze that erupted near the end of its journey on Sept 9, discovering burnt remains in the economy section. Coast guard images showed twisted steel bed frames and ash-covered debris, with some appearing to contain skeletal remains. Families waited anxiously as body bags were brought ashore. Survivor accounts cited by authorities said two explosions were heard shortly before the fire broke out. Read More…

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Syeda Mubeena Hashmi Posted in World

India’s strong growth triggers debate over economy

NEW DELHI: India’s stronger-than-expected economic growth has sparked debate over the reliability of official figures. The economy expanded 7.8% in the April-June quarter, exceeding analysts’ 7.1% forecast, supported by investment, manufacturing and consumer demand. Former finance ministry official Subhash Chandra Garg questioned whether growth was overstated due to changes in the previous year’s GDP measure. Former central bank chief Raghuram Rajan also questioned why strong growth had not translated into stronger job creation, investment and foreign inflows. Read More…

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Hafsa Mustafa Posted in World

US seeks to keep Hormuz energy flows open while squeezing Iran’s economy: Vance 

US Vice President JD Vance has said Washington needs to keep energy supplies moving through the Strait of Hormuz while using economic pressure to force Iran to change course, as the Trump administration steps up its campaign against Tehran. Speaking to the US-based Clay Travis & Buck Sexton Show, Vance credited US forces and commercial workers with helping move large volumes of oil and gas through the strategic waterway despite Iranian attacks on commercial vessels. Read More…

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Syeda Mubeena Hashmi Posted in World

Trump Unveils New Pressure Campaign as Iran War Drags

US President Donald Trump announced a major new campaign targeting Iran’s economy, warning countries that conduct business with Tehran of severe consequences. The move comes as the conflict approaches its sixth month, with no clear diplomatic or military resolution and the Strait of Hormuz still heavily disrupted. Trump also faces growing domestic scrutiny ahead of November elections over rising costs for Americans and pressure on the US military. He described the campaign as unprecedented economic warfare and isolation. Read More…

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Alina Hashmi Posted in World

Iran’s Hormuz demands set ‘a very dangerous precedent’: Rubio

The US secretary of state says Iran’s demands to control and collect tolls in the Strait of Hormuz threaten the world’s economy and the principle of freedom of navigation. Many leaders have expressed serious concern over the US-Israel war on Iran and the ensuing global energy crisis caused by the strait’s closure. “If we create a precedent in the Middle East where a nation-state can decide that they are going to control an international waterway, charge a toll and if you don’t pay them blow up your ships, we have… Read More…

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Alina Hashmi Posted in World

US Secretary Rubio says ‘Iran is in a lot of trouble’

Speaking at the ASEAN meeting in the Philippines, Marco Rubio says Iran’s economy and military have been battered during the war on Iran. When a reporter asked him about the rising number of US casualties during the heightened fighting, Rubio said, “All I would say is that, you know, any time you’re in a combat zone there’s danger associated with it.” On Tehran’s ability to strike, he said, “I mean, at the end, this actually proves the point that this is what Iran has been investing its money in for… Read More…

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Hafsa Mustafa Posted in Politics

Pakistan's economy size reaches ‘highest-ever' level but misses growth target

Pakistan’s gross domestic product (GDP) hit its highest-ever size, but the South Asian nation missed its growth target due to external shocks, Finance Minister Muhammad Aurangzeb said on Thursday. “The GDP […] hit $452.1 billion, which is the highest ever in the country’s history,” the finance czar told a press conference in Islamabad as he unveiled the Economic Survey 2025-26, ahead of the upcoming fiscal year’s budget. Read More…

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