WORLD
EU economy set to avoid recession but headwinds persist
The growth outlook for 2023 is raised to 0.8 percent for the EU and 0.9 percent for the eurozone, according to the document, which was presented by European Commissioner for Economy Paolo Gentiloni. This is respectively 0.5 and 0.6 percentage points higher than in the Autumn Forecast, Xinhua news agency reported.
Beijing denies three 'objects' downed by US came from China
The US North American Aerospace Defense Command (NORAD) announced that "an F-16 fired an AIM9x to successfully shoot down an airborne object flying at approximately 20,000 feet altitude in the US airspace over Lake Huron in the state of Michigan" at 2:42 p.m. on Sunday.
Japanese police file new charges against ex-PM Shinzo Abe's murder suspect
Yamagami, 42, is believed to have test-fired a weapon at a facility linked to the religious group Unification Church in the western city of Nara on July 7 last year, a day before the fatal shooting, in addition to making handguns and gunpowder without authorization, according to the Nara prefectural police, Xinhua news agency reported.
Sedition case against ex-Pak Finance Minister for 'sabotaging negotiations' with IMF
The case has been filed by Arshad Mehmood against Tarin under Pakistan Electronic Crimes Act (PECA) 2016 for his alleged audio leak that had surfaced on the internet, Geo News reported. Sections 124-A and 505 of Pakistan Penal Code have also been included in the FIR.
Israeli fighter jets strike Gaza military post in response to rocket fire
Sources with the Islamic Resistance Movement (Hamas) told Xinhua that several explosions were heard in separate areas of the coastal enclave, which is home to more than two million Palestinians. Witnesses saw ambulances and civil defense crews moving to the bombing sites. An Israeli army spokesman said in a statement that the underground post produced.
US-China rivalry will not split the world, globalisation is here to stay: Study
Reports of globalisation's death are premature, according to researchers at the University of Waterloo, the University of British Columbia and the China Europe International Business School in Shanghai. "The potential economic cost of doing this is too high for the U.S., China, their allies, and the entire world. The breakdown of globalisation ultimately hurts consumers, which we are all experiencing too well. Globalisation is not over," said Dr Victor Cui, a professor at Waterloo's Conrad School of Entrepreneurship and Business.
Another shock as milk price reaches Pak Rs 210 a litre in Karachi
Loose milk, which has been increased to Pak Rs 210 from Pak Rs 190 per litre by some shopkeepers and live broiler chicken which has seen an increase of Rs 30-40 per kg in the last two days, taking the cost to Rs 480-500 per kilogram, Dawn reported. Earlier this month, the live bird was available at Rs 390-440 per kg while it was being sold between Rs 380-420kg in the last week of January, 2023.
Turkey, Syria in the aftermath of the quake
The death toll from the earthquakes in Turkey has climbed to 29,605, the country's disaster agency was quoted by the Anadolu Agency as saying, bringing the total fatalities with neighbouring Syria to over 33,000, with tens of thousands injured. Rescue efforts The first batch of emergency aid, including tents and blankets, delivered by the Chinese government for earthquake relief has arrived in Turkey on Saturday.
China's central bank continues to add liquidity via reverse repos
The People's Bank of China said on its website that it has conducted 46 billion yuan (about 6.7 billion U.S. dollars) of seven-day reverse repos at an interest rate of 2 per cent, Xinhua reported. The move is aimed at keeping liquidity reasonable and ample in the banking system, according to the central bank. A reverse repo is the process in which the central bank purchases securities.
'Super King' Bajwa, not US, behind ouster: Imran Khan
The PTI chairman made these remarks during an interview with the Voice of America and a separate televised address on Sunday. On both occasions, the former premier took swipes at the ex-chief of army staff, who, according to Imran Khan, was the source of all the crises plaguing Pakistan today, Dawn reported.
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