Slump in commodities rattles global markets

Commodities markets slumped on Monday, led by deep losses in gold, silver, oil and industrial metals as the choice of Kevin Warsh as the next Fed chair set off a wave of selling in risk assets that sent precious metals tumbling for a second session. Gold slid 9 per cent to its lowest in more than two weeks, while silver fell more than 13 per cent after both metals hit records last week. Oil dropped nearly 5.5 per cent, easing from multi-month highs, and London Metal Exchange copper fell almost…

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The IMF programme dilemma

BRUSSELS: Pakistan is halfway into the ongoing $7 billion 36-month long Extended Fund Facility (EFF) approved in October 2024 by the International Monetary Fund (IMF) board. This austerity programme like all previous IMF programmes is causing jitters across Pakistan’s political and media landscape. Former and current ministers including economic commentators are openly blaming the IMF-mandated policies for being anti-growth and worsening the country’s financial health and increasing social distress. Recently, even the SIFC national coordinator said that the “country’s growth plan was missing” and that “we have made a mess…

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Global inflation to fall to 3.8% this year, says IMF chief

Global inflation is expected to fall to 3.8% this year and to 3.4% in 2027, helped by softer demand and lower energy prices, the IMF chief said on Monday. Managing Director Kristalina Georgieva said in a speech in the Annual Arab Fiscal Forum in Dubai that global growth has held up ‘remarkably well’ amid profound shifts in geopolitics, trade policy, technology, and demographics. Read: Fuel prices likely to rise from Feb 1 amid inflation pressures Georgieva also called for more trade integration as unilateral trade agreements are seen to increase. “In…

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Public debt breaches limit by Rs17tr

ISLAMABAD: Pakistan’s total public debt remained Rs17 trillion higher than the maximum statutory limit set by Parliament to ensure fiscal discipline during the last fiscal year, but the government has still managed to reduce refinancing risks by extending the tenor of domestic loans. The Debt Policy Statement 2026 disclosed that, against the maximum permissible debt limit of 56% of Gross Domestic Product (GDP), public debt surged to 70.7%. The statement has been prepared for the information of the National Assembly under the requirement of the Fiscal Responsibility and Debt Limitation…

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Kazakhstan President Tokayev to visit Pakistan on February 3–4

The President of the Republic of Kazakhstan, Kassym-Jomart Tokayev, is set to undertake his first official state visit to Pakistan from February 3 to February 4 at the invitation of Prime Minister Shehbaz Sharif, the Foreign Ministry said on Monday. The Ministry of Foreign Affairs, in a statement on X, said, “During the visit, President Tokayev is expected to meet with the President of Pakistan, hold talks with the Prime Minister, and address the Pakistan-Kazakhstan Business Forum.” The president will be accompanied by a high-level delegation, comprising senior cabinet ministers…

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PM Shehbaz holds talks with World Bank President Ajay Banga

Prime Minister Shehbaz Sharif met World Bank Group (WBG) President Ajay Pal Singh Banga in Islamabad on Monday, welcoming him on his first official visit to Pakistan as WBG President. Banga is on a four-day high-level visit, touring several official and cultural sites. His visit began on February 1 and will continue until February 4. During his stay, he is scheduled to meet Prime Minister Shehbaz Sharif, Deputy Prime Minister Ishaq Dar, Federal Minister for Finance Muhammad Aurangzeb, and other senior officials. Discussions are expected to focus on economic reforms,…

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President urges protection of wetlands

ISLAMABAD: President Asif Ali Zardari, reaffirming the commitment to the conservation and sustainable management of wetlands, urged citizens—particularly youth, local communities, and policymakers—to value, protect, and sustainably manage wetlands as vital cultural and ecological assets. “This day marks the adoption of the Convention on Wetlands, also known as the Ramsar Convention, in 1971. Pakistan is a signatory to this landmark agreement, which promotes the conservation and sustainable use of wetlands and their resources for present and future generations,” the president said in a message on the observance of World Wetlands…

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Epstein files reveal damning secrets of global elite

KARACHI: If there were ever a record of the dirty dealings of the world’s elite, it would be the Epstein files. From Donald Trump to Bill Clinton, and even India’s hardline, ultra-religious prime minister Narendra Modi, few among the political and social elite appear untouched by the disgraced financier’s network. The scandal that dogged Trump’s second presidency from the onset has taken another explosive turn, with the US Department of Justice (DOJ) releasing a fresh batch of the notorious Epstein files. The disclosure lands as a political bombshell, dragging into…

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IHC extends ban on tree cutting in Islamabad till Feb 13

ISLAMABAD: The Islamabad High Court on Monday extended its injunction stopping the cutting of trees in the federal capital, adjourning the case until February 13. The court had on January 15 ordered the Capital Development Authority (CDA) to immediately halt tree cutting in Islamabad while hearing a petition filed by Muhammad Naveed Ahmed, who challenged what he described as illegal felling in the city. During Monday’s proceedings, CDA lawyer Aamir Latif Gul told the court that the trees were removed to make way for a monument of the Ma’araka-e-Haq. Justice Khadem Hussain…

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School Meal Programme launched in Bhakkar

LAHORE: Punjab Chief Minister Maryam Nawaz Sharif inaugurated a Danish School in Mankera, Bhakkar, and launched the School Meal Programme at Government Primary School Kisanwala, terming education and nutrition key pillars for a brighter future of children. During a visit, the chief minister announced the upgradation of three schools in Mankera, following which notifications were issued in this regard. The Government Girls Primary School Kisanwala was upgraded to elementary level, while the elementary schools in Kari and Noorpur Shah were granted the high-school status. The chief minister distributed lunch boxes…

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