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Former Pakistan premier Nawaz Sharif vows to work toward economic recovery

Former Pakistan premier Nawaz Sharif vows to work toward economic recovery

PAKISTAN'S three-time Prime Minister Nawaz Sharif kick-started his party's campaign for next year's election after arriving home from four years of self-imposed exile in London, promising to tackle record inflation. "I want to serve this nation," said the 73-year-old veteran politician in his address to thousands of his supporters at his eastern hometown of Lahore. "My only desire is to see this nation prosper," he said after he compared today's essential goods prices with his last tenure before he was ousted in 2017. He promised to work toward economic recovery, without laying any plans, saying: "We will control inflation." Earlier, he landed…
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Hawkers back on China’s streets as economic recovery teeters

Hawkers back on China’s streets as economic recovery teeters

WANG Chunxiang pushes a cart around busy areas of Shanghai, playing cat and mouse with the authorities as she tries to sell pastries. The jobs she could get do not pay enough for her to make ends meet. "Salaries are too low," said the 43-year-old, after serving a customer steamed sweet rice cakes from a wok. "At my age, without much knowledge, I could only earn 5,000 to 6,000 yuan ($868) per month as a cleaning lady. Shanghai rent is so expensive. Even low-quality homes are 2,000-3,000 yuan," said Wang, who recently resumed hawking after a six-year break. She can…
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Biden unveils plan to pump $1.9 trillion into pandemic-hit economy

Biden unveils plan to pump $1.9 trillion into pandemic-hit economy

JEFF MASON and JARRETT RENSHAW US President-elect Joe Biden has outlined a $1.9 trillion stimulus package proposal, saying bold investment was needed to jump-start the economy and accelerate the distribution of vaccines to bring the coronavirus under control. Biden campaigned last year on a promise to take the pandemic more seriously than President Donald Trump, and the package aims to put that pledge into action with an influx of resources for the COVID-19 response and economic recovery. "A crisis of deep human suffering is in plain sight, and there's no time to waste," Biden said in prime-time remarks from Delaware.…
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A job fair for a joint China-SA future

A job fair for a joint China-SA future

CHEN XIAODONG PRESIDENT Xi Jinping observed that jobs are the most fundamental livelihood projects. Jobs are key to social stability.  COVID-19 brought a major impact on the world economy, as well as South Africa’s economy. The unemployment rate here remains high.  President Cyril Ramaphosa attaches great importance to jobs. He always makes job creation a priority of the government. The South African President also actively launched an employment stimulus plan. As a good brother, friend and partner of South Africa, when we work with South Africa against COVID, we also actively support your economic recovery.  At the same time, Chinese…
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Ghana’s Akufo-Addo sees strong economic recovery in 2021

Ghana’s Akufo-Addo sees strong economic recovery in 2021

GHANA's President Nana Akufo-Addo has predicted a sharp economic rebound this year after a pandemic-induced downturn thanks to new mining projects, increased manufacturing and expanded financial services. Ghana, West Africa's second-largest economy and a major producer of gold, oil and cocoa, saw economic growth slide to an estimated 1.9% in 2020, the lowest in decades. The country's debt-to-GDP ratio rose past 70% and prompted the International Monetary Fund to warn about possible debt distress. In his first state of the nation address since his re-election in December, Akufo-Addo said economic growth would top 5% this year. He touted recent investments…
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Ghana finance ministry sees swift recovery from COVID-19 slump

Ghana finance ministry sees swift recovery from COVID-19 slump

Ghana's Finance Ministry revised up its 2020 growth forecast on Wednesday and forecast a rebound to 5.9% next year as the economy recovers from its first contraction in almost four decades due to the coronavirus pandemic. The West African nation, a major producer of gold, oil and cocoa, saw gross domestic shrink 3.2% in the second quarter after a three-week lockdown in March forced many businesses to close. But lower prices and a stabilised exchange rate have boosted business optimism and led the ministry to expect growth this year of 1.9% versus an earlier estimate of 0.9%, Finance Minister Ken…
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