Author: Admin

ISLAMABAD: The federal government has approved a phased privatisation plan for 24 state-owned enterprises (SOEs), including Pakistan International Airlines (PIA), First Women Bank and several key power and financial institutions. This was shared with the National Assembly by Parliamentary Secretary for Privatisation Aasia Ishaque Siddiqui on Monday. Speaking during the Question Hour, she said the Cabinet Committee on Privatisation (CCoP), in its meeting held on August 2, 2024, gave the go-ahead for the multi-year plan, which will be implemented in three phases over the next five years. She said Phase I will be completed within one year, Phase II within…

KARACHI: In an electrifying turn of events, the Pakistan Stock Exchange (PSX) on Monday staged its highest single-day rally, driven by a host of positive developments, most significant of which included the surprise ceasefire with India and President Trump’s offer to mediate in the Kashmir dispute. Additionally, Trump’s encouragement towards increased trade and the IMF’s approval of $2.4 billion in disbursements, with $1 billion coming from its Extended Fund Facility (EFF) and $1.4 billion from the Resilience and Sustainability Facility (RSF), played a key role in the unprecedented bull run. Market momentum was further amplified by a surge in global…

BRUSSELS: The EU has asked the Czech Republic to suspend signing a deal with South Korean company KHNP to build two nuclear units as it probes whether subsidies distorted competition, according to a letter seen by AFP Monday. In the letter, EU industry Commissioner Stephane Sejourne said Brussels was gathering information to assess if KHNP received “foreign financial contributions” that tilted the playing field in its favour. This was a preliminary move that could lead to the opening of an official investigation. “A contract creates final facts which would jeopardise the Commission’s right to carry out its investigation effectively and…

Saudi Arabia’s Crown Prince Mohammed bin Salman in Riyadh on October 23, 2024. — AFP RIYADH: Saudi Arabia has launched a bold new artificial intelligence company central to its strategy and investments just before US President Donald Trump’s visit. The move is part of the kingdom’s big plans to become a global leader in AI and invest heavily in future technologies. The Public Investment Fund (PIF) said in a statement its chairman, de facto ruler Crown Prince Mohammed bin Salman, launched HUMAIN to “operate and invest across the artificial intelligence (AI) value chain”.The announcement comes on the eve of Trump’s arrival on…

PESHAWAR: Former prime minister Imran Khan’s sister, Aleema Khan, who was granted a protective bail by the Peshawar High Court (PHC) on Monday, claimed she has been named in 42 cases as punishment for conveying messages from her incarcerated brother to the public. Aleema—who was not active in politics before the ouster of Imran Khan in April 2022—appeared before a PHC division bench comprising Justice Waqar Ahmed and Justice Farah Jamshed. Her lawyer, Alam Khan Adeenzai, informed the court that Aleema is already on bail in all the cases filed against her. However, he said that after May 8, multiple…

LAHORE: Major business groups in Pakistan have raised concerns over the Ministry of National Health Services’ plan to enforce the condition of Front-of-Pack Warning Labels on packaged foods. These groups argue that the move – potentially linked to future taxes – could destabilise the formal food industry while giving an unfair advantage to the unregulated informal sector. Among those voicing opposition to the condition are the Pakistan Poultry Association (PPA), Pakistan Dairy Association (PDA), Pakistan Business Council (PBC) and Overseas Investors Chamber of Commerce and Industry (OICCI). The controversy stems from a meeting held on April 29, 2025 by the…

Justin Baldoni returns to social media after ‘It Ends with Us’ lawsuitJustin Baldoni, actor and director from It Ends with Us who has been facing challenges since his legal battle with Blake Lively, has finally returned to social media after five months of keeping a low profile.The 41-year-old actor shared a heartfelt Instagram photo with his wife Emily Baldoni and their two kids Maiya and Maxwell, on Sunday. The picture, posted for Mother’s Day, also showed his mom Sharon hugging her grandson. Sharing the post, Justin captioned: “My mom gave us faith. My wife is the definition of it. Our…

RAWALPINDI: The district’s 60 price control magistrates appear ineffective in curbing inflation, as the prices of essential items continue to rise amid shortages in sugar and cooking oil supplies. Current market rates show live chicken selling at Rs415/kg, chicken meat at Rs610/kg, eggs at Rs277/dozen, mutton at Rs2,400/kg, and beef at Rs1,400/kg. Sugar is priced at Rs185/kg, while ghee and cooking oil range from Rs510–515 per pack. Pulses and dairy prices have also surged. Chickpeas at Rs380/kg, mash at Rs550/kg, milk at Rs220/litre, and yogurt at Rs240/kg. Fruit and vegetable prices remain high, with bananas selling for Rs200–250/dozen, mangoes and…

The Bangladesh cricket team’s tour of Pakistan for a five-match T20I series is confirmed to go ahead as planned later this month, putting to rest recent rumors about possible delays or cancellations. According to recent reports, the Bangladesh Cricket Board (BCB) has not raised any objections or concerns, and officials from both cricket boards are in regular contact. The series will be played across two cities, with the first two T20Is scheduled to be held at the Iqbal Stadium in Faisalabad. The opening match is set for May 25, followed by the second game on May 27. The final three…

The Pentagon building is seen in Arlington, Virginia, U.S. October 9, 2020. — Reuters WASHINGTON: The Pentagon is halting gender-affirming healthcare for transgender troops as it moves to implement President Donald Trump’s plan to remove them from the US military, according to a memo seen by Reuters on Monday.The instructions from the Defence Department barred any new hormone treatments as well as any surgical procedures for transgender troops, the memo said. “I am directing you to take the necessary steps to immediately implement this guidance,” Stephen Ferrara, the acting assistant secretary of defence for health affairs, said in the memo.The Pentagon referred…