The government has decided to cut 1,232 jobs, nearly one in every four sanctioned jobs, at the Pakistan Television Authority (PTV) to reduce its financial losses. The announcement was made during a meeting of the Cabinet Committee on State-Owned Enterprises on Friday, which was chaired by Finance Minister Muhammad Aurangzeb. “The committee was informed that … Read more
Most stock markets in the Gulf fell on Sunday after stronger-than-expected US jobs data, strengthening expectations that the Federal Reserve (the US central bank) will likely keep interest rates high for a longer period than many traders are betting on. The Federal Reserve Bank’s decisions have a significant impact on monetary policy in the Gulf … Read more
Pakistan’s unemployment rate has risen to 7% from 1.5% over the past decade, according to a report by the Ministry of Planning. The report attributes the high unemployment rates to insufficient GDP growth, which fails to meet the requirements of the health and education sectors. The report highlights the country’s inability to generate enough jobs, … Read more
Boeing worker Riley Nelson holds a sign at a picket line near the entrance to a Boeing production facility in Renton, Washington, US on October 11, 2024. – Reuters Thousands of Boeing employees are set to receive layoff notices within weeks, industry sources said, as a top U.S. official traveled to Seattle to try to … Read more