150 industries shut down in Faisalabad

[ BoI minister reviews SEZ progress at FIEDMC, industry flags logistics and investment issues FAISALABAD: Over 150 industries in Faisalabad have shut down due to security concerns and policy-related issues, leading to unemployment for nearly 150,000 workers, representatives of the business community told Federal Minister for Board of Investment Qaiser Ahmed Sheikh during his visit … Read more

US flexes military muscle as Iran pushes back

A US military officer walks towards a US Air Force plane at Al Udeid airbase in Doha, Qatar, September 4, 2021. PHOTO: REUTERS/FILE WASHINGTON/TEHRAN: The US has announced a major multi-day military exercise in the Middle East, sharply escalating tensions with Iran as Washington and Tehran confront each other after widespread anti-government protests that have … Read more

Chinese tech giant eyes IT partnerships

[ Delegation cites digital ecosystem, skilled workforce during meeting with IT minister 24 revenue estates digitised in capital to stop fraud practices. Photo file ISLAMABAD: A Chinese technology delegation has expressed interest in exploring long-term partnerships and investment opportunities in Pakistan’s information technology sector, citing the country’s expanding digital ecosystem and the availability of skilled … Read more

PSX falls after surprise no change in rate

[ Shares of 340 companies were traded. At the end of the day, 93 stocks closed higher, 233 declined and 14 remained unchanged. PHOTO: FILE KARACHI: Macroeconomic uncertainty continued to weigh on the Pakistan Stock Exchange (PSX) on Tuesday as the market remained volatile after the State Bank of Pakistan (SBP), contrary to expectations, left … Read more

Kanye West blames bipolar disorder for his rants

kanye west blames bipolar disorder for his rants

NEW YORK: Rapper Kanye West on Monday denied being a Nazi and expressed regret over his antisemitic rants, blaming such behavior — which included recording a song that celebrates Hitler — on his bipolar disorder. The disgraced 48-year-old music star, who has lost fans and business deals in recent years because of his racist or antisemitic … Read more

Asif punches holes into K-P’s Tirah migration narrative

Terms migration ‘routine annual’ exercise; Says IBOs more effective; Denies any military operation underway ISLAMABAD: Defence Minister Khawaja Muhammad Asif on Tuesday categorically stated that no military operation was being carried out in Tirah Valley, terming the migration of people a routine and seasonal process due to harsh weather and snowfall. Addressing a news conference … Read more

Gold eases despite global rally

[ At current prices, the looted gold is worth around $70 million. PHOTO: PIXABAY KARACHI: Gold prices in Pakistan eased Rs1,500 on Tuesday, diverging from a powerful rally in international markets where bullion surged beyond the historic $5,000 per ounce threshold, driven by intensifying economic and geopolitical uncertainty and sustained safe-haven demand. In the domestic … Read more

IMF third review talks likely in Feb

[ Completion to unlock $1b tranche; public, salary, and industry relief tops agenda ISLAMABAD: The International Monetary Fund (IMF) review mission is set to visit Pakistan next month to negotiate the third economic review of the ongoing loan programme. The completion of the third review would unlock the next $1 billion tranche for Pakistan under … Read more

$430m US crude deal struck

Increased sourcing from the US reduces reliance on the Strait of Hormuz — a narrow maritime corridor through which a substantial proportion of global oil trade passes and which remains vulnerable to geopolitical tensions. Photo: Reuters ISLAMABAD: Pakistan has found an alternative oil supply route as a $430 million US crude deal by the private … Read more