KARACHI: The headline inflation is poised for a sharp rebound to 6.5% year-on-year in September after edging up to 3% in August, driven by flood-related spikes in food prices, brokerage Topline Securities said in a report on Wednesday.
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Pakistan, Saudi Arabia sign defence pact pledging joint response to aggression
ISLAMABAD: Prime Minister Shehbaz Sharif and Saudi Crown Prince Mohammed bin Salman signed a “Strategic Mutual Defence Agreement” on Wednesday, formalising a pledge that any aggression against one nation would be regarded as an assault on both, in a deepening of ties between the two Muslim states at a moment of escalating conflict across the Middle East.
Pakistan cricket board says referee apologised over India handshake snub
LAHORE: Pakistan’s cricket board said on Wednesday a Zimbabwean referee had apologised to the national team’s manager and captain over a handshake snub by India in a politically charged Asia Cup clash, easing doubts about the side’s participation in its next match.
Top court questions parliament’s power to extend tax laws beyond fiscal year
ISLAMABAD The Supreme Court of Pakistan dove into a thorny constitutional debate on Tuesday, probing whether the National Assembly can pass tax laws that extend beyond the financial year’s boundaries.
Punjab wheat transport curbs spark flour shortages, soaring prices in other provinces
ISLAMABAD: An unannounced restriction on the interprovincial movement of wheat from Punjab, the country’s agricultural heartland, has triggered a flour shortage and sent prices soaring in other provinces, igniting a fierce debate over constitutional rights, market deregulation, and food security.
Private credit surges 15 percent in August on easing conditions, lower govt borrowing
KARACHI: The private sector borrowing from banks accelerated to a 15.4% year-on-year gain in August, the strongest pace in months, as declining government debt needs freed up liquidity and lower interest rates spurred demand across industries from textiles to autos.
Factory output surges 8.99 percent in July on textile export boom
ISLAMABAD: The large-scale manufacturing (LSM) sector expanded at its fastest pace in over a year, climbing 8.99% in July from a year earlier, fueled by a robust textile sector that saw exports soar 32% to $1.68 billion.
Pakistan, 15 nations urge protection of Gaza aid flotilla
ISLAMABAD: Foreign ministers from Pakistan and 15 other nations on Tuesday called for the protection of a Gaza-bound humanitarian flotilla, expressing concerns over potential Israeli attacks on the vessels as they approach the blockaded Palestinian enclave.
IHC voids telecom regulator chief’s appointment, orders immediate removal
ISLAMABAD: The Islamabad High Court ordered the immediate removal of the chairman of the state telecoms regulator on Tuesday, ruling his appointment illegal and tainted by procedural flaws.
Pakistan pulls out of pre-match media briefing as handshake row with India escalates
LAHORE: The Pakistan Cricket Board (PCB) on Tuesday scrapped a pre-match press conference ahead of its Asia Cup clash with the United Arab Emirates, as a dispute over a handshake snub during Sunday’s Pakistan-India match intensified.