Pakistan says it will seek International Monetary Fund bailout as reserves dwindle

PM Khan talks to media persons in Lahore. —DawnNewsTV

However, the International Monetary Fund cuts its global economic growth forecasts for 2018 and 2019, saying that trade policy tensions and the imposition of import tariffs were taking a toll on commerce while emerging markets struggle with tighter financial conditions and capital outflows.

The International Monetary Fund (IMF) estimates that Iran's economy fell into a recession this year that will get worse next year as a result of renewed US sanctions on Tehran.

The Nikkei closed down 1.32 per cent this morning at 23,469.39. Hong Kong's Hang Seng fell 0.1 per cent to 26,172.91.

"The challenge for the current government is to ensure that fundamental economic structural reforms are carried out to ensure that this spiral of being in an International Monetary Fund program every few years is broken once and for all".

The South Asia nation's key stock measure snapped six days of losses to advance as much as 3%, the most in more than four months, before paring some gains, while its dollar-denominated bonds maturing in 2027 climbed the most since July 26. At 3p m local time (1000 GMT), the main index was 1.3 percent higher.

Saudi consulate will be searched as pressure mounts over missing journalist
The Washington Post , for which the self-exiled Khashoggi wrote columns over the past year, pressed for release of evidence. Police also said a team of 15 Saudis were sent to Istanbul and were in the building at the same time as Khashoggi.

Rock & Roll Hall of Fame 2019 nominees announced
Rapper LL Cool J and the group Kraftwerk have made the Glist four times before. Fan will once again have the opportunity to vote for their favorites.

Google announces Home Hub - its Echo Show and Facebook Portal competitor
The device also comes with a dashboard that shows you a list of all the smart home devices in your home in a single place. It will have Google Maps, Calendar and Photos support, alongside YouTube and YouTube TV .

U.S. Treasury Secretary Steven Mnuchin is expected to meet with global finance officials in Indonesia this week during IMF and World Bank summits, though as of Monday he had no meetings scheduled with Chinese officials - as reported by Reuters.

China's economy could also take a hit: The IMF revised its forecast for economic growth in 2019 down to 6.2 percent, slightly lower than previous estimates and down from 6.6 percent this year.

A senior U.S. Treasury official on Monday had also expressed concern at the fall in the Chinese yuan, adding that it was unclear whether Treasury Secretary Steven Mnuchin would meet with Chinese officials this week. -China relations. The Trump administration has confronted China on its technology policies and territorial claims in the South China Sea, and the countries have raised tariffs on tens of billions of dollars of each other's goods.

"Trade policy reflects politics and politics remains unsettled in several countries, posing further risks", Obstfeld said. Google found the problem in March.

ENERGY: Benchmark U.S. crude added 31 cents to $74.60 a barrel in electronic trading on the New York Mercantile Exchange. The 0.2 percentage point downgrade to the 2019 growth forecast is attributable to the negative effect of recent tariff actions, assumed to be partially offset by policy stimulus, it said. It dropped 0.3 percent to $83.91 per barrel in London. Australia's S&P/ASX 200 gave up 1.0 per cent to 6,041.10.

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