KARACHI: Shanghai Electric Power Co. has abandoned its $1.77 billion bid to acquire a controlling stake in K-Electric Ltd., Pakistan’s sole listed power utility, citing a deteriorating business environment and the seller’s failure to secure required approvals.
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SBP says banks show resilience amid lending dip
KARACHI: The banking sector expanded assets and bolstered solvency in the first half of 2025 despite a contraction in lending, the State Bank of Pakistan (SBP) said in its Mid-Year Performance Review released on Wednesday.
Torrential monsoon rains kill seven, displace hundreds in Karachi
KARACHI: Torrential monsoon rains have killed seven people and displaced over 300 in Karachi, Pakistan’s largest city, as swollen rivers overwhelmed the city’s strained drainage system, officials said Wednesday. Rescue teams continued searching for three missing individuals amid forecasts of more rain.
Pakistan’s govt debt surges 13 percent to Rs77.9 trln in FY24 – central bank
KARACHI: The government debt surged 13% in the fiscal year ended June 30, reaching Rs77.888 trillion, as the nation leaned heavily on domestic and external borrowing to plug a widening budget deficit and cover escalating interest costs, central bank data showed on Tuesday.
Pakistan, China to share trade data electronically to curb under-invoicing
ISLAMABAD: Pakistan and China have agreed to exchange trade documents and data electronically to curb rampant under-invoicing that’s plagued Pakistan’s economy, as the two nations seek to deepen ties in trade, defence and technology amid ongoing regional tensions.
Pakistan strongly condemns Israeli strike on Hamas leaders in Doha, calling it a violation of Qatar’s sovereignty
ISLAMABAD: Pakistan strongly condemned Israel’s airstrike in Doha targeting Hamas leaders, terming it a “most dangerous provocation” that threatens regional peace and stability, as Prime Minister Muhammad Shehbaz Sharif conveyed solidarity with Qatar in a phone call with its amir on Tuesday.
Pakistan using foreign technology to monitor millions, censor internet – Amnesty
ISLAMABAD: The government has constructed an expansive digital surveillance and censorship network using technology from companies in Germany, China, Canada, the United States, France and the United Arab Emirates, enabling sweeping violations of privacy, free speech and other rights that suppress dissent and target activists, according to a new Amnesty International report.
Teenagers electrocuted, man drowns as monsoon depression dumps rain on Karachi
KARACHI: Three people died in rain-related accidents, including two teenagers electrocuted during downpours and a young man drowned in a swollen river, as intermittent showers lashed Karachi on Tuesday and meteorologists warned of urban flooding in Pakistan’s largest city amid a lingering monsoon depression.
Sindh braces for ‘super flood’ as Indus swells, threatens towns and farmland
KARACHI: The southern Sindh province braced for a potential “super flood” on Tuesday as surging waters from the swollen Indus River threatened to inundate towns, farmland and infrastructure, compounding a monsoon crisis that has already claimed 60 lives and displaced millions in the neighboring agricultural heartland of Punjab.
Pakistan telecom regulator says SIM data leak not from licensed operators
ISLAMABAD: Pakistan’s telecommunications regulator said an audit found no security breaches in the licensed sector after media reports alleged that sensitive mobile SIM card data, including that of Interior Minister Mohsin Naqvi, was being sold online.