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Pakistan inflation hits record-high 36.42 percent
Pakistan inflation hits record-high 36.42 percent
Business and Economy
by  AFP

Pakistan's year-on-year inflation hit its highest-ever level of 36.42 percent in April, after the government introduced new taxes and raised fuel prices to try to meet International Monetary Fund (IMF) conditions for a crucial bailout. Food prices were up by nearly 50 percent in April from a year earlier, with transport costs 57 percent higher.

Teapots, towels, tea bags: UK in coronation retail boost
Teapots, towels, tea bags: UK in coronation retail boost
Business and Economy
by  AFP

Commemorative plates, towels and tea bags are vying for attention in shop windows near Buckingham Palace, ready for the first coronation of a British monarch in 70 years. In the souvenir shops behind the palace, customers come in to browse an eclectic mix of royal memorabilia, looking to spend "£15 to £20", according to store manager Ismayil Vadakkethil.

Fed begins rate talks that could herald end of hikes
Fed begins rate talks that could herald end of hikes
Business and Economy
by  AFP

The US Federal Reserve kicked off a two-day meeting Tuesday morning to decide whether to raise its benchmark lending rate for a 10th -- and possibly final -- time to tackle rising prices. Futures traders also see a more than 95 percent chance that the Fed will raise its benchmark lending rate by 25 basis points on Wednesday, according to CME Group.

Uber shares jump as it reports higher sales
Uber shares jump as it reports higher sales
Business and Economy
by  AFP

Uber shares rocketed higher early Tuesday after the ride-hailing and delivery company reported a jump in revenues amid rising demand. Pointing to robust activity in numerous markets, the company reported a 29 percent jump in first-quarter revenues to $8.8 billion, with much higher gross bookings in both mobility and delivery.