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Pakistan's external debt nearly doubled in decade ending 2025: World Bank
Pakistan's external debt is projected to rise to USD 135.1 billion by 2025, according to a World Bank report. Public and publicly guaranteed debt accounts for a significant portion, totaling USD 107.076 billion. China remains the largest creditor of Pakistan, holding USD 22.4 billion. The International Monetary Fund is expected to provide additional financial support for economic stability.
Christine Lagarde: The outsider who led the European Central Bank her way
Christine Lagarde's early departure as European Central Bank president marks the end of a seven-year tenure shaped by the Covid-19 pandemic, energy shocks and record inflation. Despite initial doubts over her lack of formal economics training, Lagarde helped steer the ECB through major crises. However, her decision to leave before her term ends has sparked criticism over political interference and raised questions about the institution's independence.
India has navigated impact on costs and supply chains well: JSW Steel CEO Jayant Acharya
JSW Steel is investing heavily in growth, expecting India's steel demand to remain strong through upcoming years. Geopolitical uncertainties are being managed, and India's growth outlook has been positively adjusted by the IMF. The company reported a drawdown in inventory, indicating solid demand. JSW Steel has achieved a strong financial position through internal accruals and debt reduction. They are committed to expanding production capacity and focusing on high-value products.
Scion of one of India’s biggest fortunes puts his England mansion up for discount sale
Anand Nadathur, inheritor of a huge fortune in India, has reduced the asking price of his opulent Surrey property from £19.5 million to £15 million. This adjustment is indicative of the declining state of the UK's luxury real estate market. Following tax reforms unfavorable to affluent expatriates, Nadathur relocated to Singapore, mirroring a trend of wealthy individuals distancing themselves from Britain.
IMF, OECD warn AI could widen rich-poor country divide
Recent conversations underscore the transformative possibilities of artificial intelligence in fostering global economic growth and improving productivity. Nevertheless, challenges in accessing this technology persist for less affluent nations and smaller enterprises. Additionally, youth and entry-level workers might experience increased job insecurity due to AI's workplace disruptions. As corporations initiate workforce reductions to adapt to AI, effective adoption of this technology will be vital in creating fair growth prospects moving forward.
IMF, OECD warn AI could widen rich-poor country divide
Artificial intelligence holds the potential to significantly enhance global economic growth and productivity rates. However, poorer countries and smaller businesses face severe challenges in adopting this technology due to inadequate resources. Young and entry-level workers are particularly at risk as AI increasingly automates entry-level tasks traditionally used for gaining experience. Reports indicate significant layoffs occurring in various companies as they adopt AI for efficiency.
India’s growth story needs jobs to match the numbers, says ex-RBI Governor D Subbarao
Former RBI Governor D Subbarao has said India must make economic growth more employment-intensive, warning that rapid output expansion alone cannot deliver a demographic dividend. He called for greater private investment, labour-intensive manufacturing and improved skills, while urging transparent technical scrutiny of GDP estimates and differences with other economic indicators.
With France embroiled in protest, a look at the nation's economic standing by the numbers
France is grappling with significant economic challenges as public debt continues to rise, exceeding 119% of GDP. Government spending represents a substantial portion of the economy, reaching 57.2%, which constrains fiscal options. The country has recently reported low growth predictions, with only 0.4% expected for the upcoming period. Comparatively, borrowing costs for France are higher than those for Germany, impacting public service funding.
IMF and World Bank meetings leave developing countries with more questions than answers
The recent discussions at the International Monetary Fund and World Bank left developing nations feeling uncertain about their futures. Delegates raised alarm over growing debt, inflation, and the burgeoning influence of artificial intelligence, but found themselves without significant solutions. These urgent concerns, alongside geopolitical issues and diminishing aid, paint a challenging landscape for low-income countries as both organizations strive to balance AI advancements with their commitment to sustainable development.
IMF chief says AI risks may exceed opportunities without safeguards and ethical framework
The risks of artificial intelligence may exceed its opportunities if no adequate safeguards and ethical framework are put in place, IMF chief Kristalina Georgieva said on Friday, backing a blend of industry self-regulation and input from key governments.
Gold price, silver rate suffer weekly losses. Check latest gold rate predictions
Gold rate, silver price were up on Friday but both precious metals were jolted by weekly losses.
Global Market Today: Asian stocks advance as selloff in chips eases
The MSCI Asia Pacific Index advanced 0.6%, led by stocks in South Korea. Chip stocks rose with Samsung Electronics Co. and SK Hynix Inc. both edging higher. Earlier, the S&P 500 erased losses and edged up to close 0.3% higher on Thursday.
WEF could appoint Lagarde as early as November, sources say
Christine Lagarde is likely to be appointed as the chair of the World Economic Forum next month. This change would require her to step down from her position as European Central Bank chief. Following Lagarde's exit, there will be a reshuffle within the ECB due to upcoming political changes in France. The WEF board is scheduled to meet on November 2 to discuss her potential role.
School Assembly News Headlines, October 16, 2026: Check national, international, business, sports updates and thought of the day
Current school assemblies are incorporating news segments to educate students on vital global and local happenings. Recently, a tragic school roof collapse in Pakistan resulted in multiple fatalities. Additionally, the IMF's recent pledge to aid Sri Lanka’s economic recovery stands out in business news. In sports, Kylian Mbappe has made headlines by becoming the youngest player to reach 100 appearances in the Champions League.
IMF chief urges US and wealthy nations to rein in debt to ease global economic pressure
The International Monetary Fund emphasized the urgent need to address rising global debt impacting low-income countries. IMF Managing Director Kristalina Georgieva highlighted that economic growth alone cannot resolve the national debt crisis. Nations are facing difficult choices between supporting vulnerable populations and meeting debt obligations due to escalating interest rates. A new deal on debt repayment and refinancing options is necessary to provide fiscal space.
No magic fix: IMF chief warns growth cannot solve America's $40 trillion debt
The head of the International Monetary Fund highlights the urgent need to address global debt levels. Rising interest rates and inflation have created burdens on low-income countries, with many unable to finance their needs. The median developing country is paying significantly more in interest compared to developed nations, affecting government budgets. Job creation and investment initiatives are crucial for the upcoming workforce, especially as artificial intelligence advances.
AI boom lifts China, India as global trade growth accelerates, IMF says
Silvana Tenreyro, the IMF's new chief economist, highlighted the robust growth in AI-related trade. This growth has significantly outpaced overall global trade rates during recent years. While the IMF acknowledges high debt levels, it encourages countries to cut budgets to reduce deficits. Tenreyro noted that central banks should adopt restrictive policies to manage inflation effectively.
IMF says AI investment propping up global growth, but war and debt threaten outlook
The International Monetary Fund forecasts a global GDP growth of over 3% for 2026 driven by strong AI investment. Despite this growth, downside risks are increasing, leaving many countries vulnerable to rising debt. Key oil-producing nations are expected to face significant recessions due to ongoing conflicts. The outlook for developed economies such as the US and Eurozone is more stable, with growth revisions.
Policymakers take on energy shock, rising debt at IMF-World Bank meetings
Finance ministers and central bankers will meet in Bangkok to discuss challenges affecting the global economy this week. The key concerns include the economic fallout from the US-Iran war and rising inflation. Policymakers face difficult choices regarding spending and support for vulnerable populations amid growing financial pressures. Investment in artificial intelligence presents new opportunities and challenges, especially for developing nations. The meetings will shape responses to these ongoing global issues.
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