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UK retailer Wilko faces insolvency; thousands feared to lose jobs
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A sign of British high-street retail chain “Wilko” is pictured, in west London on August 3, 2023. — AFP UK homeware discount retailer Wilko has collapsed into administration, a form of creditor protection that could mean a loss of 12,000…
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US think tank says Pakistan faces ‘real danger’ of defaulting on its debt
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Shipping containers are seen stacked on a ship at a sea port in Karachi on April 6, 2023. — AFP As Pakistan is going through one of its biggest economic crises in history — the Washington-based think tank United States…
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US market rebound faces key inflation test | The Express Tribune
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NEW YORK: A rally that lifted US stocks from the brink of a bear market faces an important test next week, when consumer price data offers insight on how much more the Federal Reserve will need to do in its…
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India faces wider coal shortages | The Express Tribune
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NEW DELHI: India is expected to face a wider coal shortage during the quarter ending September over expectations of higher power demand, an internal power ministry presentation seen by Reuters showed, worsening risks of widespread power outages. The energy-hungry nation…
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Another bank faces data theft | The Express Tribune
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KARACHI: Overseas thieves have managed to rob a leading bank in Pakistan through internet banking, as they used compromised data of a number of debit cards to conduct fraudulent financial transactions in foreign currencies. The event made the financial institution…
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New finance minister faces uphill tasks, warns WB | The Express Tribune
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ISLAMABAD: The day Pakistan appointed its new finance minister to cope with the challenges – containing rising inflation and navigating through one of the worst external sector crisis, the World Bank on Tuesday reminded the country that 34% of its…
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Miftah faces tight time frame to tackle crises | The Express Tribune
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ISLAMABAD: Prime Minister Shehbaz Sharif has appointed 57-year-old economist and businessman Miftah Ismail as the finance minister who will be tasked with quickly arresting a downward economic spiral and getting IMF talks back on track. Ismail, who briefly held the…
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OPEC+ faces ‘chronic’ struggle to meet output target: IEA
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— AFP/File PARIS: The International Energy Agency on Friday raised its forecast for world oil demand in 2022 but warned of a “chronic” failure by OPEC and its allies to meet their output targets. The 13 members of the Saudi-led…
