Islamabad / DPA The International Monetary Fund expects Pakistan to curtail its overall development budget by 360 billion rupees (US$3.43 billion) (almost 24%) of allocations to limit the fiscal deficit. According to documents released over the weekend after approval of Pakistan’s 10th quarterly review by its executive board, the IMF expected the government to limit its overall development programme to ...

Tokyo / Bloomberg Foxconn Technology Group’s rescue of Sharp Corp. promises to bolster the Taiwanese electronics maker’s ambitions for a bigger role in clean energy in some of the world’s most-polluting countries, while also providing a firmer footing in Japan. Foxconn, which reached a deal last week to take control of Sharp, has previously announced plans to improve energy efficiency ...

New Delhi / Bloomberg Prime Minister Narendra Modi, long an opponent of global retail giants, is finally giving them an opening in India. Modi’s government is finalizing details of a policy to allow 100 percent foreign investment in marketing of food made in India. Companies like Wal-Mart Stores Inc. and Carrefour SA will be allowed to set up shops as ...