Latest News

Floods to drag up to 9 million Pakistanis into poverty: World Bank
Floods to drag up to 9 million Pakistanis into poverty: World Bank
World
by  AFP

Between six and nine million Pakistanis are set to be dragged into poverty as a result of cataclysmic monsoon flooding linked to climate change, the World Bank said on Thursday. A World Bank report said Pakistan's poverty rate is expected to rise between 2.5 and 4 percentage points as a direct consequence of the floods.

Revamp of World Bank and lenders needed to tackle global problems: Yellen
Revamp of World Bank and lenders needed to tackle global problems: Yellen
Business and Economy
by  AFP

The World Bank and development lenders need to evolve to tackle the complex challenges that the world is facing, such as by going beyond country-based lending, US Treasury Secretary Janet Yellen said Thursday. Apart from the traditional country-based lending model, Yellen called for considering expanded options, such as for development banks to support both global and regional entities.

Apple wins 728-mn-euro cut to France antitrust fine
Apple wins 728-mn-euro cut to France antitrust fine
Business and Economy
by  AFP

A French court on Thursday slashed more than 700 million euros from a record 1.1-billion-euro fine imposed on US tech giant Apple in 2020, sources close to the case told AFP. France's competition authority levied the fine -- its biggest ever -- after concluding that the firm squeezed independent sellers of Apple products as it tried to push buyers towards its own stores and preferred retailers.