Birmingham, the second largest city in Britain declared itself bankrupt
The Birmingham City Council filed a Section 114 notice on Tuesday, halting all spending except for essential services.
The Birmingham City Council filed a Section 114 notice on Tuesday, halting all spending except for essential services.
If China does experience a major recession, many economists believe that it will take years to recover from it. A big decline is being observed in China in the fields of real estate, construction, education etc.
China is known as the factory of the world and the Centre of global production.
The situation in Pakistan appears to be worsening, and the day when it could potentially face a declaration of bankruptcy might not be too far off.
Adam Posen, President of ‘Peterson Institute for International Economics’ said that China was already facing “long economic Covid” since the mid of last decade.
Pak Army Chief said that Pakistan is an influential and dynamic nation and it needs to become self-reliant.
No other nations helped Sri Lanka as India did. India saved us during the economic crisis; or else we would have witnessed one more bloodbath.
Saudi Arabia’s General Authority of Civil Aviation has asked Pakistan’s state-owned aviation establishment, Pakistan International Airlines, to repay a debt of $4.8 million.