Out of the way: Lahore’s Orange Line gives the blues to property owners

By Harvard Zhang Lahore, Pakistan — Ever since Muhammad Saddiq’s two-story house in Northeast Lahore was demolished on New Year’s Day to make room for the Orange Line metro train project, he has been living with his wife and four grown-up children in a single-room apartment allocated by the government. Saddiq was finally able to … Continue reading Out of the way: Lahore’s Orange Line gives the blues to property owners

Once booming, Pakistan’s bourse now sees some bloody days

By Harvard Zhang Karachi, Pakistan — The year 2016 promised much, but so far delivered little in return as the KSE-100 Index has shed 5.5 percent. Pakistan’s equity market has been subject to a persistent drain of foreign investment amid a global selloff since the beginning of the year, despite the January merger of three … Continue reading Once booming, Pakistan’s bourse now sees some bloody days

Governor Rauner advocates bipartisan reforms amid budget gridlock

By Harvard Zhang Springfield — Republican Governor Bruce Rauner called on the Democrat-controlled legislature to put aside political disagreements to institute business-building reforms together with cost reductions and revenue increases during his budget address Wednesday for the next fiscal year. Addressing a joint session of the General Assembly, the governor stressed that his budget is about jobs, opportunities and economic … Continue reading Governor Rauner advocates bipartisan reforms amid budget gridlock

First American shares soar on earnings news

By Harvard Zhang First American Financial Corp. shares jumped Thursday after the title insurance company reported better-than-expected fourth-quarter profits. In the latest quarter the Santa Ana, Calif.-based company reported net income of $81.6 million, or 74 cents per diluted share, up a modest 1.3 percent from $80.5 million, or 74 cents in the year-ago period. … Continue reading First American shares soar on earnings news

A neckwear business rooted in China prospers in Chicago

By Charlene Zhang Medill Reports “My daughter was given a Harvard logo shirt a decade ago by the school president, when Becky’s father Arnie mentioned me as the Harvard logo tie manufacturer in China,” said Michael Yin, the proud Chinese supplier of custom-made neckwear for Shop4Ties, a Chicago wholesaler and distributor. Shop4Ties was founded in … Continue reading A neckwear business rooted in China prospers in Chicago

State budget crisis clouds manufacturing education at community colleges

By Harvard Zhang The state’s financial crisis is undermining community college efforts to equip Illinoisans, particularly from low-income families, with high-tech manufacturing skills at a time when manufacturing jobs are again on the rise after a decade-long decline. Manufacturing departments at some community colleges shortchanged by the budget-less state of Illinois have been tightening their belts … Continue reading State budget crisis clouds manufacturing education at community colleges

No budget, not even K-12 funding as Illinois legislature adjourns

By Harvard Zhang Springfield, Ill.— No K-12 funding plan, let alone a fiscal 2017 budget, cleared the Illinois legislature before midnight Tuesday when the spring legislative session ended, threatening to throw the financially-beleaguered state into a second budget-less year with alarming economic, financial and social implications. Disagreement among the legislature-controlling Democrats derailed two bills their … Continue reading No budget, not even K-12 funding as Illinois legislature adjourns

Madigan snubs Rauner’s stopgap budget as deadline nears

By Harvard Zhang Springfield, Ill. — Illinois House Speaker Michael Madigan showed no rush to advance a short-term budget Governor Bruce Rauner proposed on the last spring-session day to fund public entities and avoid a government shutdown. Governor Rauner and Republican leaders proposed passing a stopgap spending plan to float public schools, universities and social … Continue reading Madigan snubs Rauner’s stopgap budget as deadline nears

Clock ticking for Springfield to resolve budget crises

By Harvard Zhang Springfield, Ill. — Illinois lawmakers have until midnight Tuesday to push the brakes on the state’s entering a second budget-less year, which would continue to take a toll on a large swath of Illinoisans and dim the state’s future. House Speaker Michael Madigan said Monday he had scheduled House special sessions for … Continue reading Clock ticking for Springfield to resolve budget crises

Chicago investment returns on track to beat last year: City Treasurer Office

By Harvard Zhang The return on Chicago’s investment portfolio is on track to beat last year’s results thanks to the re-allocation of funds into higher-yield bonds. Chicago generated $15 million of revenue on “traditional reserves” from Skyway and parking meter revenues in the first quarter of 2016, and $22 million on operating funds, according to Miriam Martinez, chief … Continue reading Chicago investment returns on track to beat last year: City Treasurer Office