Asian bonds attracted foreign inflows for a fourth successive month in August on optimism that the US Federal Reserve will start easing interest rates in September. Overseas investors made substantial purchases of regional bonds in Indonesia, India, Malaysia, South Korea and Thailand, totalling a net $14.06 billion in August – the largest monthly net purchases … Read more
State Bank of Pakistan building in this undated image. — AFP/File The Monetary Policy Committee (MPC) slashed the key policy rate by 200bps to 17.5% from the existing 19.5%, the State Bank of Pakistan (SBP) announced on Thursday, as inflation eased to the first single-digit figure in nearly three years. The new policy rate will be effective … Read more
1725516575-0/BeFunky_-(38)1725516575-0.jpg "Massive wildfire devastates 20% of Brazilian forest Dtrends")
Firefighters successfully reduced the spread of a massive wildfire in Brasília on Wednesday, after two days of intense flames destroyed 20% of the National Forest of Brasilia. The blaze, which officials suspect may have been caused by arson, blanketed the city in thick smoke. The fire erupted during the peak of the dry season, where … Read more
King Charles is set to receive a substantial pay increase, with his official annual income rising by over 50%, according to official accounts. The boost in income comes from a surge in profits from the crown estate, totaling £1.1 billion. This increase will see the sovereign grant, which funds the official duties of the royal … Read more
KARACHI: Multiple district accounts offices in Sindh are under investigation for allegedly embezzling billions of rupees from pension funds. According to reports, municipal employees were falsely declared alive to siphon off millions of rupees in pension payments. The Federal Investigation Agency (FIA) has launched a probe into the alleged misappropriation of pension funds in Hyderabad, … Read more
Fmovies — described as the biggest pirate streaming operator in the world — has been shut down by police in Vietnam, working in coordination with the MPA-led industry antipiracy group Alliance for Creativity and Entertainment. The takedown by Hanoi Police disabled Fmovies and dozens of its affiliated piracy sites. Fmovies was launched in 2016 and … Read more
WASHINGTON: US Secretary of State Antony Blinken on Tuesday approved a $20 billion sale of various military equipment to Israel on Tuesday, according to a statement from the Pentagon. Blinken had planned to visit the Middle East the same day, but reports indicate that he postponed the trip due to escalating security concerns in the … Read more
BEIJING: China National Offshore Oil Corporation (CNOOC) on Wednesday confirmed the discovery and approval of the world’s first large, ultra-shallow gas field in ultra-deep waters. This monumental find represents a significant stride forward for China’s energy sector, bridging the existing technological divide on a global scale. The Lingshui 36-1 gas field is located in waters … Read more
1723197131-0/BeFunky-collage]____-(16)1723197131-0.jpg "‘Massive earthquake’ risk increases in Japan Dtrends")
ISTANBUL: The possibility of a “massive” earthquake jolting Japan has “increased,” the country’s weather agency has warned. The warning was issued after southwestern Japan was jolted on Thursday by a strong 7.1 magnitude earthquake, forcing Prime Minister Fumio Kishida to cancel his trip to Central Asia on Friday. It is the “first such advisory for … Read more
ISLAMABAD: Pak Suzuki Motor Co. Ltd announced on Thursday that it has ceased operations at its plant. The shutdown is attributed to the government’s refusal to release the company’s Completely Knocked Down (CKD) kits from the port, leading to billions of rupees in detention and demurrage fees. Shafiq Ahmed Shaikh, Head of Corporate Affairs at … Read more