Karachi —Rampant corruption in the government
offices dealing with real estate and land
issues, unaffordable cost of construction
material, exorbitant rate of home loans and
above all mushrooming of the dishonest and
unscrupulous developers all have made it a
distant dream of owning a house for the vast
majority of the people in the country.
Basel, Switzerland—The
world has avoided an “extremely threatening”
depression but there are outstanding risks that
could topple renewed economic confidence,
leading central bankers said on Monday. There is
“a situation where we see elements that are
encouraging, confirmation of the fact that we
avoided the extremely threatening depression,
and elements which call for permanent vigilance
and alertness,” said Jean-Claude Trichet,
speaking on behalf of leading central bankers
including those from the Group of Ten
industralised economies.
Multan —President
Women Chamber of Commerce and Industry, Multan,
(WCCI), Anila Iftikhar said that the measures
taken by Prime Minister Syed Yousaf Raza Gillani
to promote the art work of women of southern
Punjab, have proved to be fruitful. The
handicrafts of Pakistan gained lots of
popularity especially in Paris and Syria due to
the special interest taken by the PM.
Dubai—Credit
bureaus based in the UAE, Bahrain, Oman and
Pakistan on Sunday joined forces to set up the
Middle East’s first credit reporting
association, an initiative that is expected to
pave way to the formation of a unified credit
bureau encompassing all countries ?of the
region. The launch of the Middle East Credit
Reporting Association, or Mecra, comes amid
increasing corporate and consumer credit default
cases reported by banks and other financial
institutions in the region on the backdrop an
economic meltdown.
HIS Highness Shaikh Mohammad Bin Rashid Al
Maktoum, Vice-President and Prime Minister of
the UAE and Ruler of Dubai, said Monday that the
UAE is one country and Abu Dhabi and Dubai will
be there for each other whenever needed. Shaikh
Mohammad also told investors at the inauguration
of the Mena and Frontiers Conference that
Dubai’s economy was built on strong foundations
and its success is based on diversified economy.
