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Merkel presses Greece’s Tsipras for progress on reforms

Berlin: German Chancellor Angela Merkel has pressed Greek Prime Minister Alexis Tsipras on Thursday to move faster to agree detailed economic reforms crucial to unlock international bailout funds before Athens runs out of cash. The conservative German leader was due to meet the leftist Greek premier just before an emergency [...]

KfW-PPAF Awards for LACIP Best Practices 2014

KARACHI: KfW and the Pakistan Poverty Alleviation Fund (PPAF) held the Mashal-e-Khayber Awards Ceremony 2014 to commemorate the best practices in the Livelihood Support Promotion of Small Community Infrastructure Program (LACIP). Social Action Bureau for Assistance in Welfare and Organizational Networking (SABAWON), Rural Development Project (RDP) and National Rural Support [...]

Why Goldman Sachs keeps losing in court

TIME to dust off the old juris doctor sheepskin, and wonder aloud about the legal advice that Goldman Sachs has gotten over the past few years. It’s a question worth asking as I review the firm’s recent history of unforced errors in the courtroom. The most recent case in point: [...]

Courting China with care

LET’S clear up some misconceptions that have been doing the rounds since President Xi Jinping visited Islamabad and dangled a $46 billion carrot before us. The money being offered is project financing, not aid and not concessionary loans. To get a good idea of what that means, take a look [...]

Fiscal deficit

Fiscal deficit is the Achilles heel of Pakistan economy. Year after year, governments have failed to reduce fiscal deficit resulting in increasing dependence on domestic and foreign loans. Under the 3-year EFF program the Government has committed to IMF to bring down the revenue-expenditure gap to less than 4 percent [...]

Barcelona, Madrid face tough away games in Spanish league

Barcelona: Having booked their spots in the Champions League semifinals, Barcelona and Real Madrid now face tough away fixtures in the Spanish league this weekend with just two points separating the title rivals as the season enters its final stretch. After its 5-1 aggregate victory over Paris Saint-Germain, Barcelona will [...]

Pakistan suffer whitewash against Bangladesh in ODI

Dhaka: Bangladesh whitewashed Pakistan in a oneday international series for the first time after winning the third match by an emphatic eight wickets on Wednesday. Bangladesh went into the match having already achieved a first ODI series win against Pakistan, and made more history. Opener Soumya Sarkar struck his maiden [...]

Swiss bank Credit Suisse profit rises 23 percent

Zurich: Credit Suisse posted an improved profit due, in part, to a pickup at its investment bank, just as the Swiss lender gears up for the departure of the investment banker-turned-chief executive at its helm. Zurich-based Credit Suisse said firstquarter net profit rose 23% from the same period last year. [...]