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Monday, July 9th, 2018

 

Ousted PM Nawaz, Daughter Maryam Expected To Land In Lahore On Friday

JUL 9, 2018: Ousted prime minister Nawaz Sharif and daughter Maryam, will land at Lahore airport on the evening of Friday the 13th. The convicted father-daughter duo is set to return to the country exactly a week after being convicted by an accountability court in Islamabad in the Avenfield properties reference. The court had on Friday sentenced the former PM to 10 years, Maryam to seven and his son-in-law Safdar to one year in jail in the corruption case, including fines. Maryam said a large number of people wish toRead More


IMF Bailout On The Cards For Next Government, Analysts Say

In 2019, the pressure would be further ratcheted up as Pakistan would need to make $12.7 billion of external repayments against $7.7 billion this year. JUL 9, 2018: The country’s next government, to be chosen in the July 25 general elections, faces growing fears of a balance of payments crisis with speculation it will have to seek its second IMF bailout in five years, analysts say. The central bank is running down its foreign reserves and devaluing the currency in a bid to bridge a yawning trade deficit, and theRead More


Pakistan’s Financial Crisis Puts Belt And Road On The Spot

JAMES M. DORSEY: Increased Pakistani dependence on China to help it avert resorting to the International Monetary Fund (IMF) to avoid a financial and economic crisis spotlights fears that the terms of Chinese investment in massive Belt and Road-related projects would not pass international muster. Concerns that China’s US$ 50 billion plus investment in Pakistani infrastructure and energy, the Belt and Road’s crown jewel dubbed the China Pakistan Economic Corridor (CPEC), potentially amounts to a debt trap, compound suggestions that Pakistan increasingly will have no choice but to toe Beijing’sRead More


Turkey Sacks 18,000 State Employees For Alleged Terrorist Links

JUL 8, 2018: Turkey dismissed more than 18,000 state employees citing alleged ties to terror organizations Sunday as part of a purge related to a failed coup in 2016. The latest firings come a day before Turkish President Recep Tayyip Erdogan is set to be sworn in for a new five-year term during a ceremony in Ankara. The inauguration ceremony on Monday in capital Ankara will be attended by dozens of foreign leaders and dignitaries, including Russian Prime Minister Dmitry Medvedev, Venezuelan President Nicolas Maduro and Qatari Emir Sheikh TamimRead More


Wages For High-Skilled Workers in Saudi, UAE to Surge –For Lack Of Talents

JUL 9, 2018 (BE2C2): Wages for high-skilled labor across the Middle East are forecast to surge in the coming period, as talents appear to be lacking, a new study by Korn Ferry said. The expected increase in salaries in the UAE and Saudi Arabia are likely to have strong effect on the media, technology and telecommunications sectors, the study titled “The Salary Surge” indicated. It forecast that these two sectors would be the most impacted with a potential wage premium of $1.1 billion and $2.4 billion, respectively, by 2030. InRead More


Dubai Property Deals Drop To Dh111B In 2018 As Compared To Dh132B In 2017

JUL 9, 2018: Overall property transactions in Dubai totaled Dh111 billion for the first half of 2018, says the Dubai Land Department (DLD). This represents an approximately 16 per cent decline compared to the same period a year ago. Overall property transactions in Dubai totaled Dh132 billion in the first half of 2017 and Dh113 billion in the first six months of 2016. The Land Department numbers represent properties and plots sold across Dubai and indicate transactions during first six month of 2018 fell below corresponding 2016 figures. The reductionRead More