Day: February 3, 2026

Trump seeks $1 billion from Harvard University in damages

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US President Donald Trump said late on Monday that his administration is seeking $1 billion in damages from Harvard University. “We are now seeking One Billion Dollars in damages, and want nothing further to do, into the future, with Harvard University,” he said in a post on Truth Social, without saying what specific harms the university had caused. Trump’s administration in December appealed a judge’s ruling holding that it unlawfully terminated more than $2 billion in grants awarded to Harvard and can no longer cut off research funding to the…

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Russia says ready for world without nuclear arms limits as New START set to expire

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Russia is ready for the new reality of a world with no nuclear arms control limits after the New START treaty expires later this week, Russia’s point man for arms control said on Tuesday. Unless Moscow and Washington reach a last-minute bilateral understanding of some kind, the New START treaty, signed in 2010 by US President Barack Obama and Russian President Dmitry Medvedev, will expire on February 5. “The lack of an answer is also an answer,” Deputy Foreign Minister Sergei Ryabkov was quoted by state news agency TASS as…

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China’s Xi urges Uruguay to back ‘orderly multipolar world’ as ties deepen

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BEIJING: China and Uruguay should work together to advance an “equal and orderly multipolar world”, President Xi Jinping told his counterpart Yamandu Orsi on Tuesday, according to a media pool report. Orsi’s visit is the first by a South American leader to the Chinese capital since the United States invaded Venezuela in January and kidnapped then-President Nicolas Maduro in a raid. China and Uruguay should “work together to advance an equal and orderly multipolar world and an inclusive, universally beneficial economic globalisation,” Xi said in his remarks, aiming to build…

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Civil rights groups sue Trump administration over pause on immigrant visas

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A group of civil rights organisations on Monday sued the State Department over its recent pause on the processing of immigrant visas for citizens from 75 countries, arguing the policy “eviscerate[d] decades of settled immigration law.” The lawsuit filed in federal court in Manhattan asked a judge to issue a court order blocking the policy, which took effect on January 21. The complaint asserted that the State Department’s policy is “based on an unsupported and demonstrably false claim that nationals of the covered countries migrate to the United States to…

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Trump warns of ‘bad things’ if Iran talks fail

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US President Donald Trump continued to raise the spectre of doom if negotiations with Iran do not pan out, saying Monday that “probably bad things will happen” without a deal. “We have ships heading to Iran right now, big ones, the biggest and the best, and we have talks going on with Iran. We’ll see how it all works out,” Trump told reporters at the White House. “But right now, we’re talking to them. We’re talking to Iran, and if we could work something out, that’d be great. And if…

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PSX gains ground on easing geopolitical risks

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KARACHI: The Pakistan Stock Exchange (PSX) on Monday ended trading on a firmer note as the KSE-100 index staged a rebound, supported by easing geopolitical tensions and selective buying. The session began with cautious investor optimism rather than aggressive risk-taking. The index oscillated within a wide band, touching the intra-day high of 185,612 and low of 182,792, reflecting active participation on both sides. A calmer global backdrop encouraged investors to engage in selective activity as signals from Washington and Tehran pointed towards diplomatic engagements. The improvement in sentiment triggered buying…

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Pakistan, Uzbekistan set $2b trade target at IGC

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ISLAMABAD: Pakistan and Uzbekistan on Monday agreed to accelerate efforts to raise bilateral trade to $2 billion as the 10th Session of the Pakistan–Uzbekistan Intergovernmental Commission (IGC) on Trade, Economic and Scientific-Technical Cooperation concluded in Islamabad. According to a statement issued by the Ministry of Economic Affairs, the session was co-chaired by Haroon Akhtar Khan, Special Assistant to the Prime Minister (SAPM) for Industries and Production, and Laziz Kudratov, Minister of Investment, Industry and Trade of Uzbekistan. Both sides expressed satisfaction over steady progress in bilateral engagement and reaffirmed their…

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5-year plan targets gemstone exports

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ISLAMABAD: The federal government has decided to introduce a comprehensive five-year plan aimed at promoting the export and regularisation of Pakistan’s precious gemstone sector, which officials estimate to be worth billions of dollars. Under the plan, 610 exporters will be facilitated to participate in exhibitions in international markets over the next five years to expand market access and promote legal trade. The plan also proposes the establishment of a central authority responsible for business registration, provincial coordination and facilitation across the gemstone value chain. According to sources, the authority will…

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PM, World Bank discuss accelerating CPF project delivery

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ISLAMABAD: Ajay Banga, President of the World Bank Group, called on Prime Minister Muhammad Shehbaz Sharif in Islamabad on Monday, with both sides emphasising the need to fast-track implementation of reform-linked development projects and strengthen oversight to ensure timely results. The prime minister welcomed Banga on his first official visit to Pakistan as president of the World Bank Group. According to an official statement, the premier appreciated the World Bank Group’s long-standing partnership with Pakistan and its continued support for the country’s development priorities, particularly through the 10-year World Bank…

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Iran-US tensions delay ferry service

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ISLAMABAD: Mounting tensions between the United States and Iran have impeded the launch of ferry service between Pakistan and Iran. Pakistan has already issued its first-ever international ferry service licence, paving the way for licensed passenger ferry operations between Pakistan and member countries of the Gulf Cooperation Council (GCC), including Oman, the United Arab Emirates and Bahrain, as well as Iran. This licensing framework is expected to provide regulatory clarity, encourage private-sector participation and boost maritime trade and connectivity in the region. The first ferry licence, approved by the Ministry…

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