January, 2023 - Iraq Bulletin

Pakistan economy in danger of collapsing due to loan defaults

EditorJanuary 27, 2023

January 27, 2023

There is a grave economic crisis facing Pakistan, with a possible loan default looming in the future and the IMF prepared to provide financial assistance under tough monetary conditions. There is fierce political rivalry between former prime minister Imran Khan and the current government in Pakistan. This rivalry makes it......

Business

Global growth will slow to 1.9 percent in 2023, warn UN economists

EditorJanuary 26, 2023

January 26, 2023

UN economists warned that intersecting crises will further damage the global economy, causing growth to slow from three percent in 2022 to 1.9 percent this year. Apart from the 2007-8 financial crisis and the height of the COVID-19 pandemic, this will be one of the lowest growth rates in recent......

Business

Modi-Sisi sign MoUs to boost Indian-Egyptian trade to $12 billion

EditorJanuary 26, 2023

January 26, 2023

Abdel Fattah El-Sisi, president of Egypt, met Prime Minister Narendra Modi today in New Delhi. During this visit, India and Egypt exchanged MoUs on cyber security, culture, information technology, youth affairs and broadcasting. After the meeting, Prime Minister Modi stated that terrorism is the greatest security threat to humanity, and......

News

OPEC fund loans $120 million to Panama to tackle climate change

EditorJanuary 26, 2023

January 26, 2023

To support Panama’s climate action, adaptation, resilience, and mitigation policies, the OPEC Fund is providing a $120 million loan. “Panama Support Programme for the National Climate Change Policy” aims to mitigate, contain, and reverse the effects of climate change, supporting Panama’s long-term climate change commitments. With an additional US$320 million......

Bank ABC wins Best Trade Finance Provider in the Middle East in 2023

adminJanuary 26, 2023

January 26, 2023

MENA Newswire: Bank ABC, one of MENA’s leading international banks, emerged as the winner of the ‘Best Trade Finance Provider in the Middle East’ title at the Global Finance- World’s Best Trade Finance Providers Awards 2023. Announced at a ceremony held in London on 25th January, the award stands testament......

News

Ship carrying 22 sinks off Jeju, 14 rescued, 9 unconscious

EditorJanuary 25, 2023

January 25, 2023

The Coast Guard reported that a Hong Kong-registered cargo ship carrying 22 crew members sank off the southern island of Jeju on Wednesday. Fourteen crew members were rescued, while a search is underway for the others. At 3:07 a.m., fourteen Chinese and eight Myanmarese crew members were on board the......

News

Transport halted across Japan by heavy snow, deep cold

EditorJanuary 25, 2023

January 25, 2023

As a result of the heavy snowfall that blanketed much of Japan on Wednesday, traffic was snarled, hundreds of flights were cancelled, and train travel was disrupted. A person has been confirmed dead as a result of the heavy snowfall. According to Reuters, an unusually cold front and the presence......

Travel

Tourism in Thailand beats target with 11.15 million visitors

EditorJanuary 24, 2023

January 24, 2023

In 2022, Thailand received 11.15 million foreign visitors, an increase from 428,000 the previous year when pandemic-related travel restrictions were in effect. The figures reflect a solid turnaround as Thailand seeks to revive its tourism industry, which was battered by its strict entry and quarantine policies during the pandemic. Two......

Technology

Spotify will reduce its workforce by 6 percent

EditorJanuary 23, 2023

January 23, 2023

In an effort to prepare for a possible recession, music streaming company Spotify Technology announced on Monday that it is planning to lay off 6% of its employees. This is approximately 600 jobs, adding to the glut of layoffs in the technology sector. As part of a broader reorganization, Dawn......

News

Pakistan suffers major power outage following failure of the grid

EditorJanuary 23, 2023

January 23, 2023

A “major breakdown” of the national grid caused nationwide power outages in Pakistan on Monday morning, affecting factories, hospitals, and schools. A voltage fluctuation in the grid between Jamshoro and Dadu in southern Sindh province caused the breakdown at 7:34 am (0234 GMT), power minister Khurrum Dastagir said. In response......