Month: July 2020

Oil Price Crash Sparks A Wave Of Banking Mergers In The Middle East

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The historic oil price crash and Covid-19 pandemic have left major producers of the commodity in a deep economic crisis. Dramatic production cuts by OPEC+ has exacerbated the situation by further lowering export inflows for economies that depend heavily on oil dollars. Some, such as the UAE, have tried to put on a brave face by touting the strength of their banking systems and claiming they can withstand shocks of any scale. Unfortunately, a growing body of evidence suggests pretty much the opposite: A wave of banking mergers is sweeping through the…

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The Ministry of Climate Change and UNDP celebrate Pakistan’s achievement of Sustainable Development Goal 13: Climate Action

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July 13, 2020, Islamabad— The Ministry of Climate Change and UNDP hosted a media briefing today to celebrate Pakistan’s achievement of Sustainable Development Goal 13: Climate Action, well before the 2030 deadline. The recent release of the 2020 Sustainable Development Report shows that out of 17 goals, Pakistan has achieved the Climate Action goal under which countries are required to take urgent action to combat climate change and its impacts. The event was attended by the Prime Minister’s Advisor on Climate Change, Malik Amin Aslam, Additional Secretary Ministry of Climate Change,…

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Russia ‘first nation’ to finish human trials for Covid-19 vaccine: Report

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Russia has become the first nation to complete clinical trials of Covid-19 vaccine on humans, and the results have proven the medication’s effectiveness, the media reported on Sunday. Chief researcher Elena Smolyarchuk, who heads the Center for Clinical Research on Medications at Sechenov University, told Russian news agency TASS on Sunday that the human trials for the vaccine have been completed at the university and they will be discharged soon. “The research has been completed and it proved that the vaccine is safe. The volunteers will be discharged on July…

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Free Gwadar Port boosts the economy in Pakistan.

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The lifting of the ban on construction and development works in Gwadar is welcome. This initiative of Gwadar Development Authority will promote construction activities in Gwadar which will not only speed up the work of construction industries but also support the small scale industries associated with it which will prove to be a source of economic growth. The current situation is that the real estate business has come to a standstill all over Pakistan but Gwadar is the only region where land is being traded and the sale and purchase of land…

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Proposed China-Iran deal is bad news for Israel

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With Iran and China working on a multibillion-dollar 25-year economic and security deal, Israel has many reasons to be concerned and even alarmed.The proposed agreement, leaked to The New York Times, which reported on it on Saturday, would lead to a closer military relationship between Tehran and Beijing, including joint military exercises, research and weapons development and intelligence sharing. It would also increase Chinese investments in Iranian banking, telecommunications and transportation, such as airports and railways. China would reportedly get a discounted supply of Iranian oil in return. The document…

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