Category: Recent Post

Joe Biden has won the race to become the next US president, defeating Donald Trump following a cliff-hanger vote count after Tuesday’s election. The BBC projects that Mr Biden has won the key battleground of Pennsylvania, propelling him over the 270 electoral college vote threshold required to clinch the White House. The Trump campaign has indicated their candidate does not plan to concede. Mr Biden said it was now time for America to “unite and heal”. “With the campaign over, it’s time to put the anger and the harsh rhetoric…

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ISLAMABAD: Pakistan may return $2 billion Saudi Arabian loan and is looking for various options to secure more lending aimed at retaining gross official foreign exchange reserves at their current level of over $12 billion, Ministry of Finance sources told The Express Tribune.  The second tranche of $1 billion of Saudi loan is maturing next month and there is likelihood that the government will return the money – two years after the borrowings, the sources added.  The Saudi Arabian financial assistance package, originally estimated at $6.2 billion, had helped the…

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The Turkish president, Recep Tayyip Erdoğan, has removed the governor of the country’s central bank from his post after the lira currency hit record lows, having lost 30% of its value since the start of the year. The decision to replace Murat Uysal as governor was made by presidential decree and announced in the country’s official gazette early on Saturday. It was not immediately clear why Uysal was removed. The lira closed at 8.544 against the US dollar on Friday after a touching record low of 8.58, despite dollar weakness as…

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The United States exported crude oil, petroleum products, and natural gas to Mexico worth nearly US$34 billion in 2019, just shy of the record-high value of energy exports in 2018, the U.S. Energy Information Administration (EIA) said on Wednesday. According to data from the latest annual Standard International Trade Classification (SITC) from the U.S. Census Bureau, the U.S. imported energy products from Mexico worth US$13 billion last year, the EIA estimates showed. The value of U.S. energy exports to Mexico exceeded the value of energy imports from Mexico in 2015,…

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