economic crisis

The Bank of China reported on September 1 that overdue unpaid credit in the first half of 2023 totaled RMB 89.646 billion yuan (approximately $12.3 billion), an increase of 3.54% compared to last year, VOA reported.

American author and investigative journalist Seamus Bruner has released his new book titled "Controligarch" exposing the exploits of George Soros and other billionaires like Boll Gates, Michael Bloomberg, Warren Buffet etc

China’s largest property developer, Country Garden, said that it faced a loss of USD 7.1 billion in the first six months of the year, mounting pressure on the Chinese homebuilder already experiencing a financial meltdown, The New York Times (NYT) reported.

Pakistan International Airlines was unable to pay USD 50 million in navigation charges to Saudi Arabia, leading to potential disruptions in its operations after June 30, 2023.

Pakistan's economic crisis continues to deepen as its YoY inflation hit its highest-ever level of 36.42 per cent in April.

The State Bank of Pakistan (SBP) raised its key interest rate by 100 basis points to a record 21 per cent on Tuesday.

After stopping the selling of subsidised flour, the Punjab government increased the rate of those subsidized bags of a 10-kilogram from Rs 648 to Rs 1150. 

In Shorkot, there was a heavy rush of free flour seekers located at the Government Elementary School in Shorkot Cantt. The scuffle occurred between policemen and the people, leading to a stampede-like situation.

In one place where the demands are not met, in other places, there rush of people at the centres that are leading to stampedes and ultimately death of people. 

Protests and brawls against the scarce supply of free wheat flour on Tuesday were witnessed at various places in Peshawar.