Tag Archives: away

Saudi-backed bank to grant loan to Pakistan: India must realise limits of weaning Riyadh away from Islamabad

The Saudi Arabia-backed Islamic Development Bank (IDB) is expected to grant Pakistan a loan of around $4 billion to repair the country’s acute balance of payments problem. This much-needed financial assistance will enhance Riyadh’s influence when Imran Khan takes over as prime minister of nuclear-armed Pakistan. Pakistan has also returned the favour by supporting Saudi Arabia in its diplomatic fight ... Read More »

Dollar pulls away from 14-year peak as investors take profits

The dollar edged lower in early Asian trading on Monday as some investors took profits after its rise last week to a 14-year peak against a currency basket, though it remained underpinned by expectations of more U.S. interest hikes in the coming year. The Federal Reserve’s interest rate forecasts released on Wednesday after its widely expected rate increase showed three ... Read More »

Michigan governor’s aides urged switch away from Flint River

Quality problems prompted two of Michigan Governor Rick Snyder’s top lawyers to urge that Flint be moved back to the Detroit water system just months after a decision to draw water supply from the Flint River, according to emails released on Friday. Several critics have called for Snyder to resign over concerns about the state’s poor handling of the crisis, ... Read More »