Pakistan’s coalition government is gearing up to unveil its ambitious fiscal targets in the upcoming budget for the year 2024/2025. The budget, which is set to be announced on Wednesday, is expected to play a crucial role in solidifying Pakistan’s case for a new bailout deal with the International Monetary Fund (IMF). The country is
Economy
The recent shock announcement by French President Emmanuel Macron calling for a snap election after disappointing results in the European Union vote has sent ripples through global markets. The euro plummeted to a one-month low of $1.0764 and reached a 21-month low against the pound. EuroSTOXX 50 equity futures and French bond futures also took
Recent data from the Recruitment and Employment Confederation (REC) in Britain indicates that the decline in permanent hiring by employers in the country has been the least severe in over a year. This encouraging trend suggests that the recruitment market may be on the path to recovery, providing hope for both job seekers and the
The recent departure of Chanel’s top designer has sent shockwaves through the luxury fashion industry, prompting speculation about the future direction of the brand. Chanel, along with other major players like Louis Vuitton and Dior, has relied heavily on marketing new styles from high-profile designers and increasing retail prices to drive sales growth. However, with
Recent developments reveal that U.S. officials are anticipating the Group of Seven (G7) wealthy democracies to issue a stern warning to smaller Chinese banks. This warning is expected to focus on these banks aiding Russia in evading Western sanctions. Leaders gathering in Italy on June 13-15 are likely to center their discussions on the threat
Israeli Finance Minister Bezalel Smotrich has set the stage for a unique and intensive process, calling for talks next week to draft the 2025 state budget. Describing the discussions as “marathon,” Smotrich aims to move the country’s economy forward from the strains imposed by recent conflicts to a focus on growth. Smotrich, in a letter
President Emmanuel Macron of France and President Joe Biden of the United States have expressed their commitment to working together to prevent a broader escalation in the Middle East. Macron emphasized the importance of avoiding a regional explosion, particularly in Lebanon, during Biden’s state visit to France. Reducing Tensions in Lebanon Macron announced that they
The recent decision by the European Central Bank to cut its benchmark interest rate has stirred discussions about the future direction of borrowing costs in the Eurozone. Despite the rate cut, ECB policymaker Robert Holzmann remains cautious about labeling it as a definitive shift towards lower borrowing costs. As the head of Austria’s central bank,
The dollar neared an eight-week low as investors awaited the release of a crucial U.S. jobs report that would provide insights into the timing of potential Federal Reserve interest rate cuts. The U.S. dollar index, which tracks the currency against major rivals, remained stable at 104.13, close to its recent low of 103.99. This decline
The euro showed slight gains on Thursday as traders anticipated a policy decision from the European Central Bank (ECB). A rate cut was widely expected, leading to some strengthening of the euro against the dollar. The Bank of Canada also made the move to cut its key policy interest rate, resulting in a slight boost
Emerging markets currencies continue to face challenges in the current global economic landscape, with the U.S. Federal Reserve maintaining interest rates and recent pivotal national election results impacting their performance. In a recent Reuters poll of currency analysts, it was forecasted that these currencies will either weaken or remain within certain ranges over the next
In a significant move, buyout firm Apollo Global Management has announced its acquisition of a 49% equity interest in Intel’s manufacturing facility located in Ireland. The deal, valued at $11 billion, marks a strategic partnership between the two companies. This acquisition will provide Apollo with a stake in the Fab 34 facility in Leixlip, Ireland,