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ADB report portrays bleak outlook for Pakistan’s economy

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ADB report paints disconsolate picture of Pakistan's economy

Pakistan Struggles with Economic Crisis; Becomes Most Expensive Country in Asia

Islamabad, April 14 (IANS) Pakistan is among Asia’s worst country in terms of struggle to handle its consistent economic fall with Islamabad dodging bullets of a complete economic meltdown. With the current dire state of the crippling economy, Pakistan has now become the most expensive country with the highest living cost in the whole of Asia.

A latest report by the Asian Development Bank (ADB) has painted a scary, glum and worrisome picture of Pakistan’s economic growth. The report maintained that living cost in Pakistan is the highest in Asia with at least 25 per cent inflation rate and an economic growth pace, expected to grow at a meagre 1.9 per cent, which is the fourth lowest in the region.

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The report also paints a scary picture for the next fiscal year, projecting inflation rate to hover around 15 per cent and growth rate at 2.8 per cent, making both forecasts as the highest among 46 countries and fifth lowest respectively. The ADB report, keeping Pakistan’s inflation rate at 25 per cent for the current fiscal year has made Pakistan the most expensive nation in Asia.

It is pertinent to note that Pakistan used to be the country with highest living cost in South Asia earlier before being pushed further into financial depression and economic stress, making it the most expensive nation in the whole of Asia. The ADB report negates the projections of Pakistan’s central bank, The State Bank of Pakistan, which had set the inflation target at 21 per cent for the current fiscal year, a target which is going to be missed despite wreaking colossal losses in the share of 22 per cent interest rate.

“During the current fiscal year, the country’s economic growth rate might remain at 1.9 per cent — the fourth lowest after Myanmar, Azerbaijan and Nauru,” the ADB report said. The ADB report comes at a time when Pakistan is going through its worst possible nightmare of aggravating economic crisis.

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Islamabad has been in a visible recession phase for some time now, pushing millions of its citizens below the poverty line at a very fast pace. The World Bank report last week revealed that about 98 million people in Pakistan are already living a poor life in Pakistan, adding that another 10 million more people might fall into the poverty trap.

IANS, established in 1986, is India's largest independent news service, offering 24x7 news from India and South Asia, and a preferred source for diverse content across six business verticals.

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Wizkid vs Davido Rivalry, What’s Up Between The Internet Feud? Here’s The Tea

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Wizkid vs Davido Rivalry, What's Up Between The Internet Feud? Here's The Tea

Wizkid and Davido are two famous musicians from Nigeria. However, they are currently all over social media because of their internet drama, which is nothing but tons of cat-calling against each other, directly pointed at each other.

They are both calling each other out and exposing a lot more.

So, on April 29, 2024, Wizkid took the initiative to start this drama.

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He wrote,

“U and all ur crew plus ur pant washer songwriter go to sleep at night thinking you got anything on me in music. Wish u all well,” directed at Davido, and D was quick to reply directly.

Davido, in his reply, added a video from TikTok and wrote the caption,

“That’s what I thought. Nothing to say! Exactly why I stopped wasting my clout and jeopardizing my millions of USD in endorsements on someone whose career was resurrected a few years ago just to die again. NEXT!!”

Even though he said ‘next’ and by that, we might get the hint of him being over it, oh boy, he was not! Then, in his later tweets, he started dissing Wizkid about his shoe size, “Size 7 shoe n—a shop at Footlocker kids.”

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Wizkid vs Davido Rivalry, What’s Up Between The Internet Feud?

The history behind this feud dates back a year, to June 2023, when Davido went on Drink Champs. He mentioned a feud with Wizkid. He mentioned that there are obvious feuds between artists, but this time the fans played a big role.

They started the surge on social media when he announced his concert with Wiz because they were not happy. And as he mentioned, all that drama and rivalry they’re both having against each other is caused by the fans and their outrage on social media.

It has been going on for over a decade, and some of us are hoping for it to be solved.

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Also Read: Report: Gangster Goldy Brar Is Alive, Confirms US Police

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Chelsea NYC Shooting: One Dead, One Arrested in Gunfire On West 24th Street 

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Chelsea NYC Shooting: One Dead, One Arrested in Gunfire On West 24th Street 

The Chelsea, NYC shooting has dominated media headlines as it involved gunfire. This major incident left the New York Police Department in awe, according to Fox5.

New York Police Department (NYPD) officers arrested one man and shot another in Chelsea. This incident took place on Tuesday afternoon.

The exchange of gunfire occurred in the Manhattan neighborhood on West 24th Street near Seventh Avenue. Several police officers and an armed man were involved in the shooting.

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The NYPD later released details about the incident, stating that it occurred in broad daylight around 2 pm, local time.

As the gunfire incident ended, one man was found in critical condition and was immediately transferred to a local hospital. Another person involved in the shooting was taken into police custody.

As per reports given by local media, the officers who were involved in investigating the incident found a gun at the shooting spot. 

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None of the New York Police Department officers were injured or shot.

About the Chelsea NYC Shooting Suspect 

The police announced that the man who was shot by NYPD officers succumbed to his gunshot wounds. He was only 25 years old.

Moreover, he was being chased by NYPD officers as a suspect in another case. CBS News reported that he faced charges of assault and felony.

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According to police records, the deceased allegedly assaulted a deli clerk last month, hitting the victim with a glass jar.

The suspect was spotted at 200 West 24th St., in front of MaximEyes Optical.

An NYPD detective, along with a lieutenant who was conducting Homeland Security Investigations, located him.

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Thus, the police officers chased him to apprehend him. However, “during a standoff-like situation, the officers of the task force were forced to fire the gun at the unidentified suspect several times,” Times Now reported.

Also Read: Charlotte Shooting: Four Officers Killed and Others Wounded While Serving Warrant

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Report: Gangster Goldy Brar Is Alive, Confirms US Police

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Report: Sidhu Moosewala Murder Case Prime Suspect, Goldy Brar Is Alive 

The prime suspect in the murder case of a famous Punjabi singer, Goldy Brar, is alive, reported TOI.

Goldy is the infamous Canadian gangster who was earlier rumored to be dead in an alleged incident that took place at Fairmont and Holt Avenue last Tuesday.

In the incident, one of the two individuals reportedly got gunshot wound and succumbed to injuries at the hospital. You can read our story about California shooting incident in which Goldy Brar allegedly got shot here.

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As per the US police, reports of Goldy’s disappearance were circulating all over the internet on Tuesday. However, the U.S. authorities clarified the rumors of Brar’s disappearance in a California shooting incident are untrue. 

The claims were refuted by the Fresno police department and labeled them as fake. William J. Dooley, the Lieutenant, debunked online speculations and announced that the victim of the California shooting was not Goldy Brar. 

William J. Dooley stated,

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“If you are inquiring because of the online chatter claiming that the shooting victim is ‘Goldy Brar’, we can confirm that this is absolutely not true.”

Who is Goldy Brar?

Goldy Brar, hailing from Muktsar Sahib, Punjab, is a close ally of gangster Lawrence Bishnoi. It is anticipated that he is the mastermind behind the assassination of Sidhu Moose Wala, the Punjabi pop icon. 

According to The Economic Times, in January 2024, Satinderjit Singh, also known as Goldy Brar, was designated as a terrorist by the Ministry of Home Affairs under the anti-terror law, UAPA (Unlawful Activities (Prevention) Act). 

Orders by the government-linked Goldy Brar to a listed terrorist organization under the UAPA, Babbar Khalsa International. 

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Goldy Brar has never ceased to vanish from police’s eyes since he murdered Punjabi singer Sidhu Moosewala. His father also was a Police Officer himself.

After completing his graduation and getting a BS degree, he has been operating from Canada remotely. 

Last year Goldy’s statement, targetting Bollywood superstar Salman Khan next made huge media headlines.

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