Economy

Job Losses Rockets upto 663,000 in America

WASHINGTON – The nation’s unemployment rate jumped to 8.5 percent in March, the highest since late 1983, as a wide swath of employers eliminated 663,000 jobs. It’s fresh evidence of the toll the recession has inflicted on America’s workers, and economists say there’s no relief in sight.

It’s the economy, Einstein

by Ikram Sehgal
The man who actually started the privatisation process competently and successfully is Hussain Lawai. Taking Muslim Commercial Bank on behalf of one of the great symbols of private enterprise, Mian Mansha, and a dozen private investors, he converted MCB into a model for privatisation by making it a financial powerhouse during Mian Nawaz [...]

Critics slam Microsoft bridge as waste of stimulus money

REDMOND, Washington (CNN) — Should a bridge that would connect two campuses at Microsoft’s headquarters be funded with $11 million from the federal stimulus package?

Bulls return to KSE; contribute 219 points to 100-Index

KARACHI: Aggressive buying at Karachi Stock Exchange on Friday pushed the benchmark KSE-100 Index by 219 points to 6,826.Today’s trade started in the green zone but kept on moving across the fence throughout the day. However, investors were seen taking positions in energy and banking stocks in the second session which took the major Index [...]

India’s richest men lose billions

Indian businessman Anil Ambani has been revealed as the biggest loser on the 2009 Forbes World Billionaire list, losing $31.9bn over the past 12 months.

Rich list hit by economic crisis

Â
The financial crisis is taking its toll on the world’s richest people, wiping 332 names off Forbes magazine’s “rich list” of world billionaires.

Nazim Karachi Syed Mustafa Kamal Address To Conference In Rice University Houston

City Nazim Syed Mustafa Kamal has said that as a result of urbanization the population of Karachi has touched the mark of 18 million and it is further estimaed to reach the mark of 30million by 2020.

C919: Impact of Chinese Commerical Jumbo jets for the world

by Moin Ansari
It is called the Manufacturing PacMan strategy. Start with parts, and an export engine. Then begin duplicating large machines like the Migs. Reach technological independence and build your own aircraft. China has followed the path perfectly.

Japanese workers demand pay rise amid recession

TOKYO: Thousands of workers rallied at a Tokyo park on Saturday, demanding companies keep jobs and increase salaries to stimulate recovery from a deepening recession.

UK govt takes over Lloyds Banking Group

LONDON: The British government said Saturday it will up its stake in Lloyds Banking Group to 65 percent and guarantee 260 billion pounds (290 billion euros, 365 billion dollars) worth of its toxic assets.

US Will Collapse Next Year: Russian Scholar

MOSCOW: If you are inclined to believe Igor Panarin, and the Kremlin would not mind if you did, then President Barack Obama will order martial law this year, the US will split into six rump-states before 2011, and Russia and China will become the backbones of a new world order.

US jobless rate bolts to 8.1 pct, 651K jobs lost

WASHINGTON: The US economic bleeding extended in February with 651,000 jobs lost and the unemployment rate surging to 8.1 percent, according to data Friday highlighting an ever-deepening recession.

North American Union, RFID & Amero EXPOSED [Video]

Australian economy sees negative growth

CANBERRA: Australia’s economy posted its first period of negative growth in eight years in the December quarter, contracting 0.5 percent, official data released Wednesday showed.

KSE index, rupee weaken after Lahore attack

KARACHI: Pakistani stocks fell after a terrorist attack on the visiting Sri Lankan cricket team in the Lahore.

Islamic banks ‘better in crisis’

Indonesian President Susilo Bambang Yudhoyono has called on Islamic banks to take a leadership role in the global economy, amid the financial crisis.

Oil prices fall over US economic data

World oil prices fell Friday after three straight days of gains as government data showed the US economy shrank more sharply than expected.

US economy contracted by 6.2%

The economy contracted at a staggering 6.2 percent pace at the end of 2008, the worst showing in a quarter-century, plunging the country deeper into recession.

‘Honest’ Obama budget sees huge deficit

US President Barack Obama has unveiled his budget proposal for 2010, which projects a deficit of $1.75 trillion for the current fiscal year.
While introducing the budget in a Thursday press conference, President Obama slammed

In Cartoons: The Bailout and U.S. Recession