Industries struggle as energy costs soar – Newspaper
KARACHI: Despite hopes of economic recovery following the IMF’s $7 billion bailout package, several industrial sectors are either shutting down units or reducing production due to the soaring costs of power and gas, which have hit production hard, leading to closures and job cuts in key industries. However, stakeholders have expressed mixed views about the […]
It’s not all doom and gloom in corporate sector – Pakistan
KARACHI: Contrary to frequent closures of local businesses, Pakistan witnessed a higher arrival of foreign companies than those leaving the country in one and a half years. Several notifications were sent to the Pakistan Stock Exchange informing the stakeholders about the closure or downsizing of the companies from textile to steel, leather and other sectors […]
PSX surges to new peak in jittery week – Pakistan
KARACHI: Amid escalating regional tensions following an Iranian missile attack on Israel and mounting political tensions due to ongoing protest by the opposition party in the capital, the Pakistan Stock Exchange (PSX) closed the tumultuous week at a record high of above 83,500. The bullish spell was driven by surging exports, foreign exchange reserves and […]
October status quo shake-up? – Pakistan
OCTOBER, it seems, will see decisive moves in both the Middle East conflict and in Pakistani politics, and the next 25 days may well determine the shape of things to come for at least the coming two, possibly three, years. Let’s start with the Middle East, where Israel has now decided to expand its ‘scorched […]
Protesting PTI workers reach Minar-i-Pakistan – Pakistan
LAHORE: Pakistan Tehreek-i-Insaf (PTI) workers defied the Punjab government’s protective measures on Saturday, enduring heavy tear gas and baton charges to gather at Minar-i-Pakistan in a show of strength. The demonstrators, chanting slogans, had responded to a call from party founder Imran Khan, assembling to celebrate his birthday and pass the “Haqeeqi Azadi” (Real Freedom) […]
Internet users face disruption in several cities – Pakistan
ISLAMABAD: Internet slowdown was experienced by users in various parts of Pakistan on Saturday, primarily due to overloading. The country has already been facing low bandwidth due to the upgradation of the Web Management System, commonly referred to as an ‘internet firewall’, a senior executive of one of the cellular mobile operators said. He said […]
Iran FM calls for ceasefire in Lebanon and Gaza – World
DAMASCUS: Iranian Foreign Minister Abbas Araghchi renewed his call for ceasefires in both Gaza and Lebanon on Saturday as he held talks with his country’s Syrian ally. “The most important issue today is the ceasefire, especially in Lebanon and in Gaza,” he told reporters. “There are initiatives in this regard, there have been consultations that […]
Israel says it’s ‘preparing response’ to Iran’s missile attack – World
• According to Israeli media, the attack will be designed to inflict a decisive blow on Tehran• Hezbollah fires rockets at an air base in Israel’s north• Tel Aviv says it ‘struck at fighters inside a mosque’ in southern Lebanon BEIRUT: Israel was preparing a military response to Iran’s missile attack this week that heightened […]
Three-year reform plan for IMF exit strategy – Pakistan
THE country requires a comprehensive three-year action plan for domestic reforms, in addition to solidifying external accounts, to ensure a smooth exit from the International Monetary Fund (IMF) programme and transition to a self-sustained, non-inflationary growth path. The broad contours of such reforms are quite well known. What is needed is to build a consensus […]
IHC orders govt to ‘restore normalcy’, designate place for PTI protest – Pakistan
ISLAMABAD: The Islamabad High Court (IHC) has ordered the government to restore normalcy in the city and designate a location for PTI to hold its protest. In a petition filed with the IHC, the capital city’s traders lamented that life has come to a halt in Islamabad, where mobile phone services have been suspended and […]