Pakistan 9 most famous issues

WASHINGTON – Out-of-work with no place to land, the legions of America’s unemployed are growing. The Labor Department is scheduled to release a report Thursday expected to show the nation’s unemployment rate edging closer to double digits. Wall Street economists predict the jobless rate will rise to 9.6 percent in June from 9.4 percent in May. That would mark a 26-year high. The rising rate comes as recession-weary companies continue to cut workers. Economists expect a loss of 363,000 jobs in June, up from 345,000 job cuts in May. Economists believe a chunk of those cuts will be tied to shutdowns at General Motors Corp. and fallout... read more >>

A substantial majority of Americans say President Obama has not developed a strategy to deal with the budget deficit, according to the latest New York Times/CBS News poll, which also found that support for his plans to overhaul health care, rescue the auto industry and close the prison at Guantánamo Bay, Cuba, falls well below his job approval ratings. A distinct gulf exists between Mr. Obama’s overall standing and how some of his key initiatives are viewed, with fewer than half of Americans saying they approve of how he has handled health care and the effort to save General Motors and Chrysler. A majority of people said his policies have... read more >>

New house building in the US increased in May after a record low in April The US economy should emerge from recession by the late summer, according to economists from some of the country’s top banks. The American Bankers Association’s Economic Advisory Committee has said it expects economic activity to increase by 0.5% between July and September. But committee head Bruce Kasman said, “the economy will return to growth [in the quarter] but not to health.” The bankers also said US unemployment would hit 10% early next year. Separately, the secretary-general of the Organisation for Economic Co-operation and Development... read more >>

Russia will welcome the Bric countries to Moscow again next week Brazil says it is to offer $10bn in financing to the IMF to help improve the availability of credit in developing countries. It is the first time that South America’s biggest economy has ever made a loan of this kind. Brazil’s Finance Minister Guido Mantega said it was part of a united approach by Brazil, Russia, India and China to help boost global financial stability. He said China had plans to invest $50bn and Russia $10bn. In the past Brazil was more accustomed to seeking help from the International Monetary Fund and the fact that it is now able to offer a loan instead... read more >>

Detroitosaurus wrecks The lessons for America and the car industry from the biggest industrial collapse ever THE demise of GM had been expected for so long that when it finally died there was barely a whimper. Wall Street was unmoved. Congress did not draw breath. America shrugged. Yet the indifference with which the news was received should not obscure its importance. A company which once sold half the cars in America, employed in its various guises as many people as the combined populations of Nevada and Delaware and was regarded as a model for managers all over the world has just gone under; and its collapse holds important lessons about... read more >>

THE country’s third tranche from the IMF is going to be delayed because Pakistan operates on a July-June financial year. Because of this, Pakistan will have its Budget presented in June. As a matter of fact, this year, the date for the 2009-10 Budget is supposed to be June 13. Because of this, that will be the date, more or less, when Pakistan will give to the IMF certain data, which it needs before releasing the next tranche under its programme, in which it has already released tranches of $850 million and $ 3.1 billion by November 2008. The data relates to taxation measures, which have yet to be agreed by the Cabinet, and this has meant... read more >>