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Economy

Eurozone inflation up: Eurostat

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EUROSTAT

BRUSSELS: Eurozone annual inflation rose to 1.5 percent in February, up from 1.4 percent in January, while unemployment in the single currency area remained stable at 7.8 percent.
The provisional inflation figure is in line with expectations from analysts surveyed by Factset, but the January unemployment figure is better than the consensus forecast of 7.9 percent.
The unemployment rate of 7.8 percent in January and  December is the lowest rate recorded in the 19-country  euro area since October 2008.
The 28-nation European Union meanwhile registered an unemployment rate of 6.5 percent in January, down from  6.6 percent in December 2018 and from 7.2 percent in  January 2018.

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Asia

Bears growl at Hong Kong bourse

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Bearish bourse

HONG KONG: Shares fell more than one percent Tuesday, hit by concerns over rising  Iran-US tensions and as investors await this week’s crucial trade talks between  Donald Trump and Xi Jinping.
The Hang Seng Index sank 1.15 percent, or 327.02 points, to 28,185.98. The benchmark Shanghai Composite Index fell 0.87 percent or 26.07 points,
to 2,982.07, while the Shenzhen Composite Index, which tracks stocks on China’s second exchange, lost 0.99 percent, or 15.63 points, to 1,560.46.

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Economy

Asset declaration scheme: No extension to be granted!

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tax amnesty

ISLAMABAD: PM has warned that there would be no extension in the 30th of June deadline, therefore, people should legalize their undeclared assets.

He was speaking on Monday (24th of June) about the asset declaration scheme. He said that the country stood at the crossroad and every citizen would have to play his role in ameliorating the economy of Pakistan. Maintaining that the country could not move forward unless taxes were collected, Imran Khan held that nation and government could work together for the success of the scheme. 

He told that modern technology would be introduced in the tax system and a helpline would also be set up for facilitation of public.  PM pointed out that the first time Baynaami laws had been enacted to bring the undeclared wealth into the tax net.

He said measures were being taken to augment income and reduce loans. He further pointed out that Govt. was implementing austerity drive to reduce expenditure. He lamented that half of the income goes to repay interest on loans. 

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Economy

USAID provides waste mgmt. eqpt. to Jacobabad

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USAID JACOBABAD

JACOBABAD: USAID Director for Sindh & Balochistan Michael Hryshchyshyn handed over waste management equipment to the municipality here at the DC office.

These 80 waste management vehicles and related equipment, provided under USAID’s Sindh Municipal Services Program (MSP), were handed over in the presence of Sindh Minister for Local Govt., Saeed Ghani and Chairperson of the Sindh Planning & Devt. Board, Naheed Durrani.

Michael Hryshchyshyn articulated that the US Govt. was proud to partner with the Govt. of Sindh in the joint initiative of providing a clean & healthy environment for the citizens of Jacobabad. Through MSP USAID is helping the city rehabilitate its water supply, sewerage, and garbage collection systems. 

Construction of the new water system is near completion and over 300,000 citizens of Jacobabad will all have access to clean, potable water and will be living in a much cleaner environment, all which will have a significant impact on their health and well-being.

USAID JACOBABAD

USAID JACOBABAD

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