According to Pakistan International Airlines (PIA), the company has increased its revenue by over Rs 2 billion after its partnership with Turkish Airlines. The partnership, which began collaborative flight operations from Pakistan’s Lahore and Islamabad airports to Turkey, has resulted in the sale of around 38,000 tickets for the Lahore/Islamabad to Istanbul route in just […]
The International Monetary Fund (IMF) has asked Pakistan to take a number of prerequisite actions within the next three weeks if it is keen to revive the stalled loan programme. According to a report by Geo News, the IMF has conveyed to Pakistani authorities that the time has come to take “all required actions”. The […]
Economic Growth Forecast for 2023 The Central Bank of the UAE has released a report forecasting a slowdown in the UAE’s economy in 2023. While the country’s GDP will still grow at a steady rate of around five percent, this number is considerably lower than the seven-point six percent growth rate projected for 2022. The […]
Introduction You may have heard that Pakistan is facing an economic crisis. The Asian Development Bank (ADB) said on Wednesday that Pakistan’s economic outlook for the fiscal year ending in June 2023 has “deteriorated under heavy flooding” while the “economy was already struggling to regain macroeconomic and fiscal stability”. According to the ADB, the floods […]
The Covid-19 pandemic has dealt a severe blow to the Chinese economy, with some estimates suggesting that the country’s GDP could shrink by as much as 9% in 2020. This would be the first time that China’s economy has contracted since 1976. The pandemic has hit China’s manufacturing sector particularly hard, with factory output falling […]
The well, which was 3,527 meters deep, was drilled in conjunction with private partners. As a result of the drilling, potential hydrocarbon-bearing zones were discovered. These zones revealed reserves of 39.12 million standard cubic feet of gas, 1,840 barrels of condensate, and 32.8 barrels of water per day. The statement released by the ministry on […]
