US president extends ceasefire with Iran until negotiations conclude Tehran terms move ‘a ploy to buy time’ fo ISLAMABAD: US President Donald Trump on late Tuesday night announced an extension of the ongoing ceasefire with Iran, saying the decision was taken following a request from Pakistan’s top leadership and to allow Tehran time…
State Bank of Pakistan. Photo: File KARACHI: The State Bank of Pakistan (SBP) said on Tuesday that the country has received $1 billion from the Ministry of Finance of Saudi Arabia, marking the second tranche of a $3 billion deposit agreement with the Kingdom, in a post on X. In the statement, the central bank…
. WASHINGTON: The United States imposed new sanctions on Tuesday targeting 14 people and companies that help Iran obtain weapons as Tehran works to rebuild its ballistic missile inventories after US-Israeli attacks, the Treasury Department said. The targets, which also include aircraft, are based in Iran, Turkey and the United Arab Emirates and were cited…
. WASHINGTON: Lockheed Martin has been awarded a contract to integrate the Patriot missile, an Army missile interceptor, into the US Navy’s Aegis combat system, a milestone the company said on Tuesday marks the first time the weapon will be fielded at sea. Reuters was first to report in October 2024 that the Navy was…
. WASHINGTON: Democratic US Representative Sheila Cherfilus-McCormick resigned on Tuesday, minutes before a congressional committee was set to hold a hearing on her punishment for ethics violations. Her departure immediately expands Republicans’ narrow majority to 217-213 with an independent who caucuses with Republicans and four vacancies. In a social media post announcing her resignation, Cherfilus-McCormick…
. LIMA: The head of Peru’s electoral authority, Piero Corvetto, resigned on Tuesday as pressure grows over the long-delayed results from the country’s April 12 general election. Corvetto, who shared his resignation letter on X, had previously acknowledged logistical delays to the electoral process, but denied that any irregularities took place. In his letter, Corvetto…
Global lender pushes for tariff cut to 6% by 2030, end of protection for assemblers ISLAMABAD: The International Monetary Fund (IMF) will vet the new auto policy before it is approved by Pakistan’s federal cabinet, as the global lender pushes to open the sector for foreign players by lowering net weighted average tariffs to single…
KARACHI: A sharp rise in fuel prices has significantly increased the cost of boat building in coastal areas of Karachi, including Ibrahim Hyderi, placing additional financial strain on the community. According to local boat makers, the cost of constructing a standard fishing launch has jumped from Rs500,000 to Rs700,000, while the cost of medium-sized boats…
Speaking at a news conference following a Foreign Affairs Council meeting in Luxembourg, Kaja Kallas said some member states proposed a full or partial suspension of the agreement. PHOTO: ANADOLU There was no support for proposals to suspend the EU-Israel Association Agreement completely or partially, the bloc’s foreign policy chief confirmed on Tuesday. Speaking at…
Benami accounts used in massive tax evasion scam; bank officials, company directors named in FIR The Federal Investigation Agency has registered a first information report (FIR) against multiple individuals, including company directors and bank officials, over an alleged fraud involving more than Rs6.6 billion. According to the FIR, the accused allegedly opened benami bank accounts…