Philippine president, Rubio discuss ‘peace, security’ in South China Sea

Hold talks on bilateral economic, security priorities as Rubio reaffirms US commitment to Luzon Economic Corridor United States Secretary of State Pete Hegseth shakes hands with Philippine President Ferdinand Marcos Jr. during a welcome ceremony at the Pentagon in Washington on July 21, 2025. PHOTO: AFP Philippine President Ferdinand Marcos Jr. and United States Secretary…

Read More

Consortium including Visa, Mastercard jointly launch new global stablecoin Consortium including Visa, Mastercard jointly launch new global stablecoin

Stablecoins are digital tokens pegged to currencies like the US dollar or euro to maintain a stable value Visa and Mastercard cards are placed on a keyboard in this illustration taken September 24, 2025. REUTERS A consortium including Visa, Mastercard and Coinbase on Tuesday launched a new joint stablecoin in a bid to broaden the…

Read More

Financial sector grows 15%

KARACHI: The State Bank of Pakistan (SBP) has issued its annual flagship publication, the Financial Stability Review (FSR) for CY25, highlighting that the financial sector grew by 15.1% during calendar year 2025. The financial depth, measured by the assets-to-GDP ratio, increased to 67.1% while risks to financial stability subsided during the year. Banks’ balance sheet…

Read More

Govt moves to end used car influx

The commerce minister directed industry stakeholders to submit comprehensive proposals for a long-term automotive policy aligned with national industrial goals. Photo: file KARACHI: Pakistan’s auto sector has welcomed a major policy shift aimed at revitalising local manufacturing, as the government moves to phase out used car imports under the baggage scheme, previously responsible for tens…

Read More

Punjab slashes jobs ahead of new budget

Nearly 150k posts abolished across province; 30k education posts already abolished RAWALPINDI: Amid an acute financial and economic crisis in Punjab, the provincial government has granted final approval to abolish nearly 150,000 vacant posts ranging from Grade 1 to 16 across all departments. Implementation has commenced, and all such positions will be eliminated before the…

Read More

FCC, IHC suspend judicial work

ISLAMABAD: Judicial work at key courts in the federal capital faced disruption on Monday and into Tuesday amid security-related restrictions as the Federal Constitutional Court (FCC) and Islamabad High Court (IHC) suspended proceedings. However, the Supreme Court continued functioning and highlighted its ability to conduct hearings through digital means. According to a notification, the decision…

Read More

Sindh announces four-day Eidul Azha holidays

The Sindh government on Friday announced four holidays on account of Eidul Azha next week. According to the notification, general holidays will be observed across the province from May 26 to May 29, with Tuesday, Wednesday, Thursday and Friday declared public holidays. “The government of Sindh hereby declares 26th, 27th, 28th and 29th May, 2026 (Tuesday, Wednesday,…

Read More