ISLAMABAD: The president of the United Arab Emirates, Sheikh Mohamed bin Zayed Al Nahyan, is scheduled to arrive in Pakistan on Friday for an official visit aimed at deepening the already robust ties between the two nations, Pakistan’s Foreign Office announced on Wednesday.
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Four children wounded in militant quadcopter attack in northwest Pakistan – report
ISLAMABAD: At least four children were wounded on Wednesday in a quadcopter attack in the restive Gondalabad area of Kurram district, according to official sources cited by the newspaper Dawn, marking the latest in a string of drone strikes by militants that have increasingly targeted civilian areas.
FM Aurangzeb flags growth shortfall as population pressures mount
ISLAMABAD: Pakistan’s economy is stabilising after years of turmoil, but a 2.7 percent growth rate in the last fiscal year falls short of what’s needed to keep pace with a burgeoning population, Finance Minister Muhammad Aurangzeb said.
Pakistan eyes April reset for PIA under new owner
ISLAMABAD: Pakistan’s government expects a new owner to take the helm of its flag carrier by April, injecting fresh capital into the beleaguered airline after a local consortium clinched a controlling stake with a Rs135 billion bid that topped expectations.
Pakistan’s foreign inflows rise 14 percent in five months on IMF backing
ISLAMABAD: Pakistan’s inflows of foreign loans and grants rose 14% in the first five months of the fiscal year, driven mainly by support from the International Monetary Fund, as the cash-strapped South Asian nation works to shore up its external finances amid ongoing economic pressures.
Imran Khan’s sister joins protest as PTI rallies against jail visit bans
RAWALPINDI: Supporters of the imprisoned former prime minister, Imran Khan, including his sister Aleema Khan, staged a defiant sit-in on Tuesday outside a police barricade in Rawalpindi, protesting what they described as the government’s unlawful denial of access to him at Adiala Jail.
Flag carrier PIA sold to Arif Habib consortium for Rs135bln in televised open auction
ISLAMABAD: Pakistan sold a controlling stake in its loss-making national airline to a consortium led by Arif Habib Corp. for Rs135 billion, the country’s first major privatisation in nearly two decades and a key step in efforts to revive the struggling economy under an International Monetary Fund bailout.
Security forces kill eight militants after ambush that martyred five policemen
ISLAMABAD: Security forces killed eight militants on Tuesday in a sweeping operation launched after an ambush that left five police officers dead in a remote, gas-rich area of northwestern Pakistan, officials said, as the country grapples with a sharp rise in attacks along its volatile border with Afghanistan.
IFC backs Engro Fertilisers with Rs33.6 billion local-currency guarantee
KARACHI: The International Finance Corp. has made its first local-currency investment in Pakistan, extending a credit guarantee to back financing for a major fertilizer producer in a move aimed at shoring up the country’s vital agriculture sector.
Pakistan enters top arms export league with $4bln Libya deal
ISLAMABAD: Pakistan has sealed a weapons deal worth more than $4 billion with the Libyan National Army, one of the largest arms sales in the country’s history, thrusting Islamabad into a select group of nations exporting conventional military hardware despite a longstanding United Nations embargo on Libya, Reuters reported.