ISLAMABAD: Finance Minister Muhammad Aurangzeb said recent floods that ravaged farmland across the country will likely curb economic growth this fiscal year, as initial assessments point to heavy damage in key agriculture sectors like rice and cotton.
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UAE’s IHC buys 83 percent stake in First Women Bank for Rs4.1b in bilateral deal
ISLAMABAD: United Arab Emirates-based International Holding Co. acquired an 82.64% stake in Pakistan’s First Women Bank Ltd. for Rs4.1 billion in a government-to-government deal, marking the South Asian nation’s first bank privatization under a bilateral framework.
Pakistan sees price stability return, growth edge up in FY25: central bank
KARACHI: The central bank said macroeconomic conditions improved in fiscal 2025 as tight monetary policy and fiscal tightening curbed inflation and bolstered stability, though risks from global trade disruptions, geopolitical strains and domestic flooding threaten the outlook.
FM Aurangzeb seeks China backing for BRICS bank membership
ISLAMABAD: Finance Minister Muhammad Aurangzeb asked China for support in joining the New Development Bank established by the BRICS group, as the South Asian nation pushes for greater access to multilateral financing amid efforts to stabilise its economy.
Troops foil suicide attack on North Waziristan army camp, kill four militants
ISLAMABAD: Security forces killed four terrorists on Friday after thwarting a suicide attack on a military camp in the restive North Waziristan district, according to state-run Pakistan Television, amid a sharp escalation in militant violence and cross-border tensions with Afghanistan.
Pakistan deliberately skipped global aid after floods, FM Aurangzeb says
ISLAMABAD: Pakistan opted not to seek international assistance following devastating floods this year, relying instead on its own fiscal resources amid an improved economic backdrop, Finance Minister Muhammad Aurangzeb said.
SBP warns of higher inflation risk as growth outlook holds steady
KARACHI: The central bank projected economic growth will likely hover near the lower end of its forecast for the fiscal year ending June 2026, while warning that inflation could exceed its target range in the coming months amid lingering macroeconomic risks.
Cricket’s ‘fourth format’ launched with global franchises, youth focus
ISLAMABAD: A new cricket format blending elements of traditional Test matches and fast-paced Twenty20 games was unveiled Thursday amid concerns over the future of the red-ball version of the sport.
Police launch sweeping crackdown on hardline TLP ahead of planned protests
LAHORE: Police mounted a sweeping crackdown on the hardline Islamist group Tehreek-i-Labbaik Pakistan on Thursday night and into Friday, sealing offices, mosques and seminaries linked to the organisation while arresting scores of its members in an effort to head off planned protests across Punjab Province after Friday prayers.
Punjab govt moves to outlaw hardline TLP after violent clashes
LAHORE: The provincial Punjab government said on Thursday it would recommend a ban on Tehreek-i-Labbaik Pakistan, a religio-political party known for its hardline Islamist views, amid a broadening crackdown following violent clashes this week.