Read More
Category: Featured
70 of 92 KP Assembly members wanted by federal police
Federal police have registered cases against 70 of the 92 members of the Khyber Pakhtunkhwa Assembly, primarily from the PTI, across various police stations in Islamabad. Among them, former Chief Minister Ali Amin Gandapur faces the highest number of cases. Islamabad police have collected detailed records of previously registered cases, which include serious charges such as terrorism and attacks on police and Rangers personnel. Most of the PTI MPAs have yet to obtain bail from any court. The Chief Minister of Khyber Pakhtunkhwa is wanted in 11 separate cases, while…
Read MoreIran says dual national held for espionage is Swedish
TEHRAN: Iran’s judiciary said on Tuesday that a dual national arrested during the recent 12-day war with Israel and who has since been put on trial for espionage holds Swedish citizenship. Tehran has given few details on the case, one of multiple arrests that took place during and after the brief war in which Israel and then the United States bombed Iran’s nuclear facilities. Several of those convicted of working for Israel’s Mossad spy agency were subsequently executed. “Recently, a case was investigated in Alborz Province regarding a dual-citizen spy.…
Read MoreUN warns 17m Afghans risk food insecurity
GENEVA: The number of people facing acute food insecurity in Afghanistan this winter is on the rise, and now stands at more than 17 million, the United Nations warned Tuesday. “The situation is getting worse, and we need to act now as Afghanistan is entering the winter period where needs are highest,” said Jean-Martin Bauer, director of food security and nutrition analysis at the UN’s World Food Programme. More than 17 million people are facing acute food insecurity: “three million more than last year”, he told a press briefing in…
Read MoreAliyev to pardon thousands
BAKU: Azerbaijani President Ilham Aliyev has proposed a mass amnesty that may affect more than 20,000 people, state media reported on Monday. Aliyev submitted a draft amnesty act to Azerbaijan’s parliament, describing the initiative as a gesture of “humanism and mercy” following the 2023 recapture of the breakaway Karabakh region from Armenian forces, the Azertag state news agency said. According to the report, the proposal would free 5,000 inmates and about 15,000 would see their sentences or penalties reduced or lifted. It is unclear whether the plan would affect political…
Read MoreFull PIA sale approved after bidders reject government’s role in airline’s affairs
ISLAMABAD: The government has decided to sell its 100% stake in Pakistan International Airlines (PIA), but one-fourth of the shares will only be offered to the winning bidder at a 12% premium on the bid price, with an option to make the payment one year later. The government has also decided to take only 7.5% of the bid money in cash, while the bidder will invest the remaining 92.5% amount in the PIA company instead of depositing it in the exchequer, government officials told The Express Tribune. During the last…
Read MoreFBR suspends Islamabad property valuations after massive backlash
ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday suspended the fresh property valuations for the collection of withholding taxes in the Islamabad Capital Territory (ICT) after taxpayers raised a hue and cry over increases of up to 1,250% in valuations, which they said lacked any rational basis. The development comes on the heels of Rs103 billion in income tax collection from the real estate sector during the first five months of the current fiscal year, which is 18% higher than the last fiscal year, despite depressed market conditions. The…
Read MoreAzerbaijan open to investing $2b in Pakistan
ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Tuesday said Pakistan and Azerbaijan were working to translate their strong relations into tangible trade and investment outcomes, with Azerbaijan expressing an appetite to invest close to $2 billion in Pakistan. In an interview with Report, the minister said bilateral relations, particularly with Azerbaijan, had grown stronger since the current government assumed office, with frequent high-level engagements including visits by Prime Minister Muhammad Shehbaz Sharif and Pakistan’s participation during the COP29 timeframe in Baku. He said the focus was…
Read MoreGovernment finalises plan for gemstones statutory authority
ISLAMABAD: The government has finalised a plan to set up a new statutory authority for the gemstone sector and a warranty office under the proposed National Gemstones Policy. The plan was submitted during a meeting chaired by Special Assistant to the Prime Minister (SAPM) on Industries and Production, Haroon Akhtar, to review and finalise the gemstone policy, aimed at unlocking the vast untapped potential of Pakistan’s gemstone sector. Minimum export price benchmarking for gemstone shipments has been proposed to curb under-invoicing, a major concern flagged by regulators. An easy, online…
Read MoreGold rally to slow next year
KARACHI: Morgan Stanley has projected that gold prices will post relatively smaller gains in 2026 as purchases by central banks and exchange-traded funds moderate, although anticipated interest rate cuts and a weaker US dollar are expected to keep the broader uptrend intact. In its latest outlook, the investment bank forecast gold prices at around $4,800 per ounce by the fourth quarter, citing strong Chinese retail demand, continued, though selective, central bank buying, and global growth concerns as key supportive factors. Commenting on the report, Adnan Agar, Director at Interactive Commodities,…
Read More