The International Monetary Fund (IMF) on Friday approved the immediate disbursement of $1 billion to Pakistan under the ongoing Extended Fund Facility (EFF), drawing sharp opposition from India, which warned the funds could be misused to support state-sponsored cross-border terrorism.The approval came during a board meeting in Washington, where the IMF also reviewed a proposed…
Gerhard Randers-Pehrson, an 81-year-old resident of Ossining, N.Y., believes the $10,000 cap should go up — but not too much. While Mr. Randers-Pehrson, a retired research scientist, said he paid $16,000 in state and local taxes last year, he does not expect to personally benefit from a higher cap. He would take the standard deduction…
Citing sustained structural reforms, improved fiscal metrics, and macroeconomic resilience, global rating agency Morningstar DBRS has upgraded India’s sovereign credit rating to ‘BBB’ with a stable trend.The agency said the rating revision reflects India’s strengthened economic fundamentals, supported by continued infrastructure investment, digital transformation, and a more robust banking sector.“The upgrade reflects Morningstar DBRS’s view…
Robert A.G. Monks, a lawyer and businessman from a prominent Massachusetts family who unsuccessfully ran for the U.S. Senate three times but found a calling in his 40s as an influential defender of shareholder rights, died on April 29 at his home in Cape Elizabeth, Maine. He was 91. The cause was pancreatic cancer, which…
India raised concerns about the IMF’s assessment of Pakistan’s prolonged use of its resources. (AI image) India-Pakistan tensions: India on Friday raised concerns over IMF bailout packages and programs for Pakistan at the International Monetary Fund’s Executive Board meeting. “Pakistan has been a prolonged borrower from the IMF, with a very poor track record of…
An air traffic control facility that guides planes at Newark Liberty International Airport suffered a brief radar outage on Friday morning, the latest technological disruption at one of the nation’s busiest airports. The Federal Aviation Administration said that the outage, which affected communications and radar displays at the facility in Philadelphia, occurred just before 4…
India has sufficient supplies of petrol, diesel, and LPG, and there is no need for panic buying, top oil companies said on Friday, following rising tensions with Pakistan.State-run firms — Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) — issued separate statements assuring the public of adequate fuel stocks and normal operations….
Randy Carr watched the news on his laptop the way you look at a doctor about to administer a shot — nervously and braced for pain. It was April 2, and President Trump was in the Rose Garden about to unveil new tariffs. An upbeat, slightly jacked 52-year-old, Mr. Carr is the chief executive of…
State Bank of India (SBI) and seven other lenders announced on Friday the sale of 20 percent of their combined stakes in Yes Bank to Japan’s Sumitomo Mitsui Banking Corporation (SMBC) for Rs 13,483 crore, marking the largest cross-border investment in the Indian banking sector. Upon completion of this transaction, SMBC will become the single…
The Trump administration is working to bring the first group of white South Africans it has classified as refugees to the United States early next week, according to officials briefed on the plans and documents obtained by The New York Times. Although the president halted virtually all other refugee admissions shortly after he took office…
