Sunday, November 24
BEIJING: China's consumer prices rose more slowly in October, while producer price deflation deepened, even as Beijing doubled down on stimulus policies to prop up its sputtering economy. China unveiled a 10 trillion yuan ($1.4 trillion) package on Friday to ease local government "hidden debt" burdens, rather than directly injecting money into the economy. The consumer price index edged up 0.3% last month from a year earlier, slowing from September's 0.4% rise and the lowest since June, data from the National Bureau of Statistics showed on Saturday, missing a 0.4% increase estimate in a Reuters poll of economists. CPI dropped 0.3% month-on-month, versus an unchanged outcome in September and below a forecast 0.1% decline. The producer price index slid 2.9% on year in October, deeper than th
Cycling great Mark Cavendish announced his retirement from the sport on Saturday, writing on social media that his final race will be Sunday's Tour de France Singapore Criterium."Sunday will be the final race of my professional cycling career," wrote the 39-year-old British sprint legend, the record stage winner on the Tour de France with 35, in a post on Instagram."Cycling has given me so much and I love the sport. I've always wanted to make a difference in it and now I am ready to see what the next chapter has in store for me."Cavendish made Tour de France history last July when he eclipsed Eddy Merckx's record which had stood since 1975, having matched the Belgian's mark in 2021."I am lucky enough to have done what I love for almost 20 years and I can now say that I have achieved everyt
A bumpy ride lies ahead for Pakistan under Trump 2.0. While the loyalists of the current government are skeptical of the Trump Presidency, Imran Khan's PTI is upbeat and is dispatching an envoy to meet members of the Trump team.In a major faux pas, Pakistan Prime Minister Shahbaz Sharif's top advisor Rana Sanaullah likened Donald Trump to Imran Khan and accused the incoming US President of inciting the Capitol Hill attack in 2021.Sanaullah's remarks, made during an interview with Pakistan’s ARY News, came on the day Trump scored a historic election victory. Sanaullah, who serves as Special Assistant to Prime Minister Sharif, drew comparisons between Trump and Khan, citing their alleged use of lies, stubbornness, and unlawful actions.He accused Trump of orchestrating the Capitol Hill insu
Lahore [Pakistan]: Pakistan's Punjab government in a bid to combat the hazardous smog conditions in the province, shut down amusement parks and museums for 10 days, from November 8 to 17, ARY News reported.As per the ban imposed on Friday, the districts affected by this ban include Lahore, Gujranwala, Faisalabad, Multan, Sheikhupura, Kasur, Nankana Sahib, Gujarat, Hafizabad, Mandi Bahauddin, Sialkot, Narowal, Chiniot, Jhang, and Toba Tek Singh, ARY News reported. Lodhran, Vehari, and Khanewal districts are also under smog-related restrictions.Earlier in the day, Pakistan's air pollution reached an alarming level, with seven cities topping the list of the world's most polluted cities, as per ARY News. Pakistan's meteorologists predicted worsening smog conditions due to low wind speeds of 11
India is now home to more than 220,000 people with a taxable income of over Rs 1 crore. This is a staggering five-fold increase over the past decade. Even more dramatically, 100,000 of them joined the group of high earners in just three years, since the onset of the Covid pandemic. Who are the newcomers to this bracket of super-rich Indians, and to what extent has the pandemic fuelled this trend? To uncover the reasons behind this rise of the rich, ET spoke to economists, tax experts and chartered accountants, some of whom preferred to remain anonymous. They attribute this rise in crorepati taxpayers to a variety of factors, including a booming stock market, robust profits in select companies, aggressive talent poaching with a huge hike in salaries, stringent tax enforcement and changes in
