Bulls dominate PSX over financing hopes
KARACHI: Despite exhibiting significant volatility, the Pakistan Stock Exchange (PSX) on Thursday notched up notable gains, powered by positive triggers such as falling bond yields and optimism about bridging the external financing gap. Those factors, coupled with impending approval of the $7 billion Extended Fund Facility (EFF) by the International Monetary Fund (IMF) executive board, […]
Tech event projects $500m in investments
KARACHI: The three-day 25th ITCN Asia 2024 concluded on a positive note, with the event projected to generate over $500 million in investments and business deals, marking a significant boost to Pakistan’s national economy. Umair Nizam, Project Director of ITCN Asia, expressed optimism that the event will significantly contribute to Pakistan’s economic landscape, highlighting the […]
Brewing cyclone may hit Sindh today
KARACHI: A potential cyclone was brewing in the north-eastern Arabia Sea, approximately 270 kilometres southeast of Karachi, on Thursday and might hit Sindh by Friday (today) morning, the Pakistan Meteorological Department (PMD) said as it forecast heavy rains over the next 72 hours. According to the PMD, a deep depression – an area of very […]
Karachi mayor warns against unneccessary movement with more rain expected from potential cyclone – Pakistan
Karachi Mayor Murtaza Wahab warned citizens against unnecessary movement on Thursday as more rain is expected due to a potential cyclone over the Rann of Kutch in India that is likely to emerge along the Sindh coast late tonight or tomorrow morning. According to an alert from the Pakistan Meteorological Department (PMD) issued at 10pm […]
Investment rates drop to historic low
ISLAMABAD: The investment rate in the country has reached its lowest level in history this year. According to sources, data approved by the National Accounts Committee reveals that the investment target for Pakistan was set at 15.1%, but it remained at 13.1%, marking the lowest level in Pakistan’s history. Previously, the lowest rate was recorded […]
Ukraine says US-made F-16 fighter jet crashed, killing pilotq
KYIV: Ukraine said Thursday that one of its F-16 fighter jets made by the United States crashed while repelling a Russian air strike, killing the pilot onboard. The announcement marks the first reported destruction of an F-16 in Ukraine, just weeks after Kyiv began taking delivery of the supersonic aircraft. “F-16 fighters of the Armed […]
Many areas flooded by sewage
KARACHI: The mild, but incessant rain for three consecutive days has exposed the city’s inadequate drainage infrastructure. Although the main roads may be clear, but various neighbourhoods in Gulshan-e-Iqbal, Shafiq Mor, Two Minute Chowrangi, Saddar, Bahadurabad, Korangi, Landhi, Liaquatabad, and others, are grappling with urban flooding in lanes and streets. Despite the worsening conditions, authorities […]
1 policeman martyred, 2 injured during anti-bandit operation in Sindh’s riverine area – Pakistan
One policeman was martyred while two were injured during an anti-bandit operation carried out in the riverine areas of Sindh, according to a statement from the Rangers spokesperson on Thursday. Organised criminal gangs have been active in the riverine border areas of southern Sindh and central Punjab for decades, often making money through kidnap-for-ransom assaults. […]
Labour in chains
Bonded labour remains a severe and pervasive issue in Sindh where thousands of individuals, including children, are trapped in cycles of exploitation and abuse. This scourge traps scores of workers and their families in a cycle of debt. Between 2013 and 2023, at least 12,116 bonded labourers were freed from the clutches of landlords in […]
Powerful Typhoon Shanshan slams into southern Japan – World
One of Japan’s strongest typhoons in decades dumped torrential rain across southern regions on Thursday, with one person missing and at least 80 injured as authorities warned of life-threatening flooding and landslides. Typhoon Shanshan packed gusts of up to 252 kilometres per hour as it smashed into Japan’s main southern island of Kyushu early on […]