Seoul, Feb 11 (IANS) North Korea said on Wednesday that a landmark housing project launched at a previous party congress to build 50,000 living units in Pyongyang will soon be complete, marking a major preparatory step ahead of another party congress later this month.”The goal of building 50,000 living units in the capital, set at the eighth party congress, is nearing … final completion according to the party-set schedule,” the Rodong Sinmun, the party-run newspaper, said.The housing construct…
Latest Economy News & Updates
New Delhi, Feb 10 (IANS) While the Pakistan government claims that it ushered in the recent macroeconomic stabilisation, the uncomfortable and far more consequential reality is that unemployment is rising, and for millions of Pakistanis, economic stability remains an abstract concept that has not translated into secure livelihoods, according to an article in the Pakistani media.The 2025 Labour Force Survey paints a stark picture. Unemployment has climbed to 7.1 per cent, the highest level in 21 …
Shimla, Feb 8 (IANS) Himachal Pradesh Chief Minister Sukhvinder Singh Sukhu on Sunday said that the report of the 16th Finance Commission would have a long-term impact on the state’s economy, including the upcoming Budget for 2026-27. He made this comment after the presentation on the state’s financial position and the effects of the abolition of the Revenue Deficit Grant (RDG) by the Finance Department.“Abolition of RDG is not the issue of a government, but it is a matter of the rights of…
New Delhi, Feb 7 (IANS) Suffering from a profound identity crisis, Pakistan has thrown tax burden onto a population that receives the public services of a medieval fiefdom, according to a new report.A report in Business Recorder reveals that Pakistan’s fiscal policy remains obsessed with squeezing the productive few to fund a “bloated, unproductive bureaucracy”. “We are not a welfare state; we lack the institutional nervous system, the documentation, and the moral contract to sustain one…
New Delhi, Feb 7 (IANS) As millions of young Pakistanis enter an economy that has struggled to expand, stalled by macroeconomic instability and policy uncertainty, the country faces “twin dangers” of domestic unrest and accelerating outward migration, a new report has warned.Pakistan must generate between 25 and 30 million jobs over the next decade — about 2.5 to 3 million every year.However, without a thriving private economy, job creation on the scale required is simply not possible, arg…
New Delhi, Feb 7 (IANS) Commerce and Industry Minister Piyush Goyal said on Saturday that the farmers’ interests remain paramount and no concessions have been extended to sensitive agricultural sector produce in grains, fruits, vegetables, spices, oilseeds, dairy, poultry and meat, among others.Replying to a question from IANS during a press meet here, Goyal said the country has secured preferential access for Indian goods through the India-US Interim Agreement framework.“There has been no com…
New Delhi, Feb 5 (IANS) Pakistan’s economy has been in a state of crisis for many years while India, a frequent point of comparison in Pakistani discourse, in sharp contrast, has surged far ahead to become the fastest growing major economy in the world, according to a new report.An article in media outlet Amu.TV states that after the Covid pandemic, the two neighbouring economies move in different directions. In 2022, Pakistan saw a decent rebound with around 6 per cent GDP growth, but this pr…
Washington, Feb 5 (IANS) A prominent American lawmaker has criticised Texas Governor Greg Abbott’s order freezing new H-1B visa petitions at public universities and state agencies, calling it harmful to the state’s workforce and economy.Congressman Marc Veasey said the decision would weaken Texas at a time when skilled labour and innovation are critical.Abbott last month ordered state agencies and public universities to halt new H-1B visa petitions through the end of 2027 while his administr…
Jaipur, Feb 4 (IANS) Rajasthan Chief Minister Bhajanlal Sharma on Wednesday said the newly-signed trade agreement between India and the United States will be a “game changer” for the state’s economy.CM Sharma said Rajasthan is expected to reap “immense benefits” from the newly signed trade agreement between India and the United States.Expressing optimism over the agreement reached under the leadership of Prime Minister Narendra Modi, the Chief Minister said the deal reflects growing global confi…
Dhaka, Feb 4 (IANS) As Bangladesh heads to elections next week, Bangladesh Nationalist Party (BNP) Chairman Tarique Rahman, in an exclusive interview with a leading current affairs magazine, accused the Muhammad Yunus-led interim government of failing to restore law and order. Citing experts’ opinion, he warned that failure to address the law and order situation could push the country towards long-term instability.In an interview with The Diplomat, Rahman said, “After August 5, the interim gover…