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KARACHI: Nearly one year after the election that brought Imran Khan to power in Pakistan, the cricket-hero-turned-prime-minister faces growing anger as he chases an elusive target: how to right the South Asian nation’s teetering economy. Pakistan has been staring down the barrel of a balance of payments crisis since before last year’s July 25 vote, and analysts have long warned that the new government must act quickly. In one of his earliest speeches, Khan — who led the cricket-mad country to World Cup victory in 1992, and campaigned on vows to build an Islamic welfare state — tried to reassure voters, telling them repeatedly: “Do not panic.” But since then the rupee has lost nearly 30% of its value and inflation is running at nearly 9%, and likely to continue rising. “The price of tomatoes is touching the skies,“ 30-year-old Shama Parveen, who walked several kilometres through Karachi’s sweltering heat to find cheaper produce, told … [Read more...] about Soaring prices, rising anger in Imran Khan’s Pakistan

Billionaire to grads at US black college: I'll pay your debt (Agence France-Presse) - May 20, 2019 - 11:45am WASHINGTON, United States — Sunday was already a day of joy and pride for the graduating class at historically black Morehouse College in Atlanta, Georgia—and then it got a whole lot better. Robert F. Smith, an African-American businessman with a fortune estimated at $4.4 billion, told the new graduating class that he plans to pay off the entirety of their student debt: an estimated $40 million. Of course, Smith received a thunderous round of applause from the 400—and from their parents. "My family is going to create a grant to eliminate your student loans," Smith told the assemblage, according to the college's Twitter account. "This is my class," said Smith, who was at the ceremony to receive an honorary degree. "I know my class will pay this forward" and help improve the lives of other black … [Read more...] about Billionaire to grads at US black college: I’ll pay your debt