Latest news with #PRAC
Yahoo
18-05-2025
- Business
- Yahoo
3 States That Are Still Sending Out Stimulus Checks in 2025
After the onset of the COVID-19 pandemic, Americans received an unprecedented amount of financial relief from the government in the years following. A series of economic impact payments were approved by Congress to help ease the financial strain placed on all Americans as a result of the economic turmoil that ensued after lockdown measures were put in place five years ago. Find Out: For You: According to the U.S. Government Pandemic Response Accountability Committee (PRAC), three rounds of economic impact payments (totaling more than 476 million payments equal to $814 billion in financial relief) went to households impacted by the pandemic between 2020-2021. Though there are no more federal stimulus checks scheduled, a few states are still looking to send or have sent stimulus checks to their residents in 2025 to mitigate the impacts of continued higher costs and ongoing inflation. Governor Kathy Hochul recently introduced the idea of New York State's first-ever Inflation Refund. It passed, so New York State residents who are single taxpayers and make up to $150,000 per year could receive a payment of $300, while joint tax filers making up to $300,000 per year would receive a payment of $500. In fact, the state is sending inflation refund checks to over 8 million residents as part of the fiscal year 2026 budget. 'Because of inflation, New York has generated unprecedented revenues through the sales tax — now, we're returning that cash back to middle-class families,' explained Governor Hochul. She added, 'the cost of living is still too damn high,' and she's looking to give New Yorkers financial breathing room in 2025. These one-time refunds are designed to help New Yorkers with the cost of living going up, thanks to inflation. Checks began mailing in late April 2025 and will continue through May. Up Next: New York isn't the only state sending out stimulus checks in 2025. California has confirmed a new round of stimulus checks up to $725 for eligible households, depending on income and family size. The new stimulus checks are designed to support state residents who may be facing financial challenges due to inflation. Here are some of the requirements to qualify: Annual income: Beneficiaries must stay within certain income limits set by the program. Residency in California: Applicants must be legal residents of California and have filed a recent state tax return. Exclusion from previous rounds: Priority is given to individuals who did not receive aid in earlier phases of the Golden State Stimulus program. Payments will be sent via direct deposit or physical check via mail if there's no bank account information on file with the state. As part of Colorado's Taxpayer's Bill of Rights (TABOR), the state had more stimulus checks to send in 2025, thanks to Colorado's current $1.5 billion fiscal surplus. Colorado residents who are single taxpayers can receive a payment of up to $800, while married couples filing jointly can receive a payment of up to $1,600. This welcomed financial relief supports residents and aims to boost the local economy by bolstering consumer spending power. Here are some of the requirements to qualify for the TABOR refund: Tax Compliance: Must have filed Colorado 2023 DR 0104 tax returns by April 15, 2024. Residency in Colorado: Must have lived in Colorado for over a year. Age and Continuous Residence: Must be 18 years old and have resided in Colorado for at least 183 days during the fiscal year. Legal Status: Should not have any outstanding tax debts or criminal convictions resulting in imprisonment of 180 days or more during the fiscal year. Payments can be issued by direct deposit, paper check or prepaid debit card. More From GOBankingRates Surprising Items People Are Stocking Up On Before Tariff Pains Hit: Is It Smart? How Much Money Is Needed To Be Considered Middle Class in Every State? 5 Little-Known Ways to Make Summer Travel More Affordable These 10 Used Cars Will Last Longer Than an Average New Vehicle This article originally appeared on 3 States That Are Still Sending Out Stimulus Checks in 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Medscape
09-05-2025
- Health
- Medscape
EMA Decision Is In: Finasteride Linked to Suicidal Ideation
The European Medicines Agency (EMA) has confirmed that suicidal ideation is a potential side effect of finasteride and urged healthcare professionals to advise patients to stop treatment and seek medical advice if they experience depressed mood, depression, or suicidal thoughts. The advice follows an EU-wide review launched in February of available data on finasteride and dutasteride by the EMA's Pharmacovigilance Risk Assessment Committee (PRAC). The review of the benefit-risk balance was undertaken following notification by France of a referral under Article 31 of Directive 2001/83/EC, based on pharmacovigilance data. It followed a warning by the UK's Medicines and Healthcare products Regulatory Agency in April 2024 that a comprehensive safety review prompted by patient concerns had revealed possible psychiatric and sexual side effects. PRAC said that it had assessed data from clinical trials, EudraVigilance (the European side effects database), and studies and case reports in the scientific literature, as well as information from patients, relatives, healthcare professionals, academics, and patient and consumer organizations. EudraVigilance revealed 325 relevant cases of suicidal ideation (313 for finasteride and 13 for dutasteride) considered either probably or possibly related to treatment, most of which related to patients treated for alopecia. However, PRAC pointed out that this was in the context of an estimated exposure of around 270 million patient-years for finasteride and around 82 million patient-years for dutasteride. Suicidal Ideation Side Effect Confirmed In conclusion, the committee confirmed suicidal ideation as a side effect of finasteride 1 mg and 5 mg tablets, although it said that the frequency was unknown. A link between suicidal ideation and dutasteride was not established on the basis of the reviewed data, but because dutasteride works in the same way, information about the mood changes seen with finasteride would be added to dutasteride's product information as a precautionary measure, as it already is for finasteride. However, the committee concluded that the benefits of both finasteride and dutasteride continued to outweigh their risks for all approved uses. Finasteride is an androgen blocker that acts as a competitive inhibitor of human 5-alpha reductase, an intracellular enzyme that metabolizes testosterone into the more potent androgen dihydrotestosterone. It is used to treat androgenic alopecia in males via 1 mg tablets and cutaneous spray, whereas finasteride 5 mg tablets and dutasteride 0.5 mg capsules are used to treat benign prostatic hyperplasia. Patients Alerted to Risks The EMA said that most cases of suicidal ideation were reported in people using 1 mg finasteride to treat male hair loss, and patients should be advised that they should stop treatment and seek medical advice if they experience mood changes. The product information for the 1-mg oral dose will now also alert patients to the need to seek medical advice if they experience problems with sexual function (such as decreased sex drive or erectile dysfunction) that have been reported to contribute to mood alterations and suicidal ideation in some patients. A patient card will be included in the 1-mg finasteride package to remind patients of these risks and to advise them about the appropriate course of action. The review found no evidence linking suicidal ideation to finasteride skin sprays, and no new information is being included in their product information. In the EU, finasteride- and dutasteride-containing medicines are available under various trade names, including Adadut, Androfin, Andropecia, Avodart, Capila, Combodart, Duodart, Dupro, Duster, Dutaglandin, Dutalosin, Dutascar, Finahair, Finapil, Finapuren, Finaristo, Finpros, Finural, Fynzur, Gefina, Propecia, Proscar, Prosmin, Prosterid, and Tadusta.
Business Recorder
07-05-2025
- Business
- Business Recorder
PRAC raises concern over ‘insufficient' policy rate cut
KARACHI: The Policy Research Advocacy Council (PRAC) has expressed concern over the SBP's decision to cut the policy rate by only 100 bps on May 5, despite inflation falling to a record low of 0.28% in April 2025. PRAC had recommended a deeper 200 bps cut, citing the need for stronger easing under current macroeconomic conditions. Mohammad Younus Dagha, Chairman PRAC and former Federal Secretary, stated that the MPC should have considered the challenges to the industrial and export sectors that the very high real interest rates have been posing for them. The inflation rate in Pakistan has remained below the inflation target of 5-7% since November 2024. In response, the MPC-SBP has gradually lowered the policy rate from 15% to 11% over the last few meetings. Despite this reduction, the 11% policy rate remains high, continuing to stifle private sector credit growth and hinder economic activity especially compared to India (6.0%), Vietnam (4.5%), and China (3.1%). This puts Pakistan at a competitive disadvantage in fostering business expansion and recovery. Despite inflation falling from 4.9% in November 2024 to just 0.28% in April 2025—well below the SBP's target range of 5-7%—the policy rate remains significantly high. Even core inflation, which excludes food and energy, stood at only 7.4% in April 2025 and does not justify maintaining such tight monetary conditions. Persistently high interest rates are suppressing private investment, credit demand, and overall economic activity. Credit to the private sector in Pakistan has fallen to one of the lowest levels among emerging markets. As of 2023, it accounts for just 12.0% of GDP, significantly lagging behind India (50.1%), Türkiye (50.3%), and Bangladesh (37.6%). The gap between public and private sector lending continues to grow, with the government, including public sector enterprises, taking 76.5% of total credit, effectively crowding out the private sector. By March 2025, the private sector received only 23.5% of total credit, down from 29% in March 2022 when policy rates were in single digits. The Large-Scale Manufacturing Index (LSMI) dropped by 3.5% during Feb 25 compared to Feb 24. The private sector has been hindered by high interest rates, a shrinking share of credit in the market, and excessive collateral requirements. Dagha stressed the need to increase private sector credit as a percentage of GDP by encouraging commercial banks to expand lending to SMEs, streamline financing processes, and reduce collateral requirements. A larger portion of private sector credit should be directed toward SMEs and key growth sectors. Copyright Business Recorder, 2025
Arab News
14-04-2025
- Business
- Arab News
Pakistan should reinforce trade partnerships with China, Middle East amid tariff row— think tank
ISLAMABAD: Pakistan should diversify its markets for exports, collaborate with other countries to formulate a multilateral response to Washington and reinforce existing trade partnerships with China and the Middle East in response to tariffs imposed by the United States, a Karachi-based independent think tank said recently. US President Donald Trump imposed tariffs on several countries on Apr. 2, defending the measures as necessary to address long-standing trade imbalances and what he described as unfair treatment of American goods abroad. Islamabad would have been slapped with a 29 percent tariff rate before Trump walked back on the announcement on Apr. 9, pausing it for 90 days. A 10 percent blanket duty on almost all US imports will remain in effect. A study by the Pakistan Institute of Development Economics (PIDE) entitled 'Impact of Unilateral Tariff Increase by United States on Pakistani Exports' said this month when added to the existing 8.6 percent Most Favored Nation (MFN) tariff, the total duty after the imposition of the 29 percent tariff could reach 37.6 percent. This would likely result in a 20-25 percent decline in Pakistani exports to the US, translating into an annual loss of $1.1-1.4 billion, with the textile sector bearing the brunt of the blow. 'Pakistan should work on diversifying its export markets to reduce dependency on the US market,' the Policy Research & Advisory Council, (PRAC) an independent think tank that says it provides input for policies and advocates for economic and business interests, said in its report titled 'An Analysis of US Tariff Barriers Impacting Pakistan's Trade.' 'Establishing trade agreements with emerging economies such as Africa or the Central Asian Republics (CARs), or reinforcing existing partnerships, like those with China or the Middle East, could mitigate the risks of trade losses due to tariff hikes,' it added. Pakistan has strengthened its business-to-business (B2B) ties with the Kingdom in recent months, with both sides announcing in October 2024 they had signed 34 memoranda of understanding and agreements worth $2.8 billion to enhance private sector collaboration and commercial partnerships. China, on the other hand, has invested billions in an infrastructure and energy corridor project that connects China's Xinjiang province to Pakistan's Gwadar Port via a network of highways, railways, and pipelines. PRAC advised Pakistan to collaborate with other nations facing similar tariff challenges, such as Bangladesh and Vietnam, urging it to formulate a multilateral response to Washington's tariffs. 'This approach could involve coordinated advocacy at international trade forums, such as the World Trade Organization (WTO), to mitigate the broader global impact of US tariff policies and promote fairer trade practices,' it said. Pakistan's textile industry is expected to face significant challenges from the tariffs, with potential losses of up to $2 billion in exports estimated by experts if the 29 percent tariff rate is reinstated. The think tank urged Islamabad to leverage its competitive advantage in sectors such as wearing apparel, woven fabrics, food products and non-metal wastes where tariff increases for Pakistan are lower compared to Vietnam and Bangladesh. It pointed out that when it comes to textile yarn, threads and carpets, despite higher tariffs Pakistan still holds an edge over Vietnam. However, sectors such as medical equipment, plastics and rubber tires benefit from smaller tariff hikes, offering growth potential. 'By focusing on these sectors, Pakistan can enhance its export basket and capture greater market share,' the report said. PRAC advised Pakistan to reduce its reliance on a 'narrow' export basket, improve production efficiencies to secure new markets to mitigate the impact of rising tariffs and safeguard its existing exports. 'Implementing these measures will not only protect the country's trade interests but also position it for greater resilience and competitiveness in the global market,' it concluded.
