By Asif Shahzad ISLAMABAD (Reuters) -Pakistan plans to privatise its loss-making national carrier Pakistan International Airlines, the government said on Monday, as the country also seeks to outsource its airport operations in line with an IMF deal. The privatisation decision was taken at a meeting of the Cabinet Committee of Privatisation chaired by Finance Minister…
By Mark John (Reuters) – If medieval advances in the plough didn’t lift Europe’s peasants out of poverty, it was largely because their rulers took the wealth generated by the new gains in output and used it to build cathedrals instead. Economists say something similar could happen with artificial intelligence (AI) if it enters our…
By Marta Nogueira RIO DE JANEIRO (Reuters) – Brazil’s Petrobras may increase investments in its next five-year business plan by up to 10% over the previous one, which would place the state-run oil company’s capital expenditures at around $86 billion, Chief Financial Officer Sergio Caetano Leite said in an interview on Monday. The increase in…
By Douglas Gillison, Nupur Anand and Tatiana Bautzer (Reuters) – Now that regulators in Washington have unfurled a hefty reform package of post-financial crisis capital regulations, banking industry advisers are honing in on what they consider most disruptive, including risk management requirements that could affect real estate lending, consumer credit and wealth management. In a…
By Ann Saphir (Reuters) – Regulatory guidelines issued in late July encouraging banks to incorporate the Federal Reserve’s so-called discount window into their contingency funding plans fail to address the main issues underlying banks’ reluctance to use it, former Fed staffer and bank policy expert Bill Nelson said in a blogpost on Monday. Arguing that…
By Carlos Barria PHOENIX (Reuters) – As the world registered the hottest month of all time in July, the southwestern U.S. city of Phoenix shattered its own 1974 heat-wave record, with temperatures above 110 degrees Fahrenheit (43°C) for 31 straight days. Heat-sensitive photography in late July reveals an even hotter Phoenix, where concrete on the…
By Leah Douglas WASHINGTON (Reuters) – Twenty-five Democratic lawmakers on Monday urged Republican leaders of the U.S. House of Representatives to stop calling for further cuts to the largest U.S. food aid program for low-income Americans as a key committee considers a $728 billion farm and nutrition spending bill. The letter written to House Speaker…
By Bhanvi Satija and Mariam Sunny (Reuters) – Shares of Sage Therapeutics slumped to a record low on Monday after the U.S. health regulator approved the company and partner Biogen’s pill for postpartum depression, but rejected it as a treatment for major depressive disorder. The decision raises fresh questions about the growth prospects for the…
By Dan Williams JERUSALEM (Reuters) -Israel plans to ease travel for Palestinian Americans from the blockaded Gaza Strip next month as part of preparations for Israelis to be able to enter the United States without visas, an Israeli official said on Monday. As a condition for its accession to the U.S. Visa Waiver Program (VWP),…
By Pavel Polityuk KYIV (Reuters) -Ukraine is seeing “significant results” from U.S. and German air defence systems, President Volodymyr Zelenskiy said on Sunday, despite waves of Russian air strikes that Kyiv says targeted civilians and residential buildings. Russia reported it had shot down a drone heading for Moscow in the third such attack in a…
