The Saudi riyal was the second most-used currency after the US dollar in GCC debt markets, raising $7 billion from eight issuances In the first half of 2025, Saudi Arabia retained its position as the top issuer in the Gulf Cooperation Council’s debt markets, raising $47.93 billion through bonds and sukuk. While this figure reflects […]
Indian-origin engineer Shyamal Shah jailed for $1 million fraud in Auckland, New Zealand. (Photo: NZ Herald) An Indian-origin engineer, Shyamal Sushil Shah, a former Auckland Council employee, has been sentenced to two years and two months in prison for over $1 million fraud from the public sector, New Zealand Herald reported. Shah pleaded guilty at […]
Elon Musk, the world’s richest man and until recently a close adviser to US President Donald Trump, has announced the formation of a new political party called the America Party. The move follows a dramatic split between the two over Trump’s controversial tax-and-spending bill, which Musk says will bankrupt the country.The Tesla and SpaceX CEO […]
Pakistan’s tax exemptions to various sectors cost the country over $21 billion this year, more than the $17 billion it needs to repay in commercial and bilateral external debt, as revealed in the latest economic survey.Pakistan’s finance minister Muhammad Aurangzeb presented the Economic Survey of Pakistan 2024-25 on Monday, which outlines various economic developments and […]
The independent US Congressional Budget Office (CBO) announced on Wednesday that the comprehensive Republican legislation for tax reductions and federal programme cuts would potentially increase the national debt by $2.4 trillion in the next ten years. This analysis, reported by the New York Times, raised concerns about excessive government borrowing under President Donald Trump‘s domestic […]
