Bank profits sink on provisions

DIGITALISATION: Over the medium term, the sector is expected to benefit from regulatory pushes towards a documented, cashless economy, which should structurally enhance the low-cost deposit base. PHOTO:FIL KARACHI: Pakistan’s commercial banking sector is expected to face a squeeze on profitability in the second quarter of 2026 as elevated provisions, narrowing margins and weaker non-funded…

Read More

PM condemns Houthi attacks on Saudi oil tankers, assures Riyadh of full support in call with MBS

Reiterates Pakistan’s unwavering support for Kingdom’s security, sovereignty, territorial integrity and prosperity Saudi Crown Prince Mohammed bin Salman meets Prime Minister Shehbaz Sharif upon his arrival in Jeddah, Saudi Arabia on April 29, 2022. Photo: Reuters Prime Minister Shehbaz Sharif on Thursday condemned attacks carried out by the Houthi militia against Saudi oil tankers in…

Read More

President Zardari orders intensified monsoon preparedness nationwide

President Asif Ali Zardari. Photo: File President Asif Ali Zardari on Thursday directed all federal, provincial and local authorities to intensify coordinated preparedness, rescue and relief measures as the country enters a critical phase of the monsoon season amid heightened risks of flash floods, cloudbursts, glacial lake outburst floods (GLOFs), landslides and urban flooding. In…

Read More

FinMin reviews reform progress with IMF leadership, reaffirms commitment to economic transformation

Discussions focus on reform agenda, including tax, energy sector reforms, privatisation, debt management Finance Minister Muhammad Auranzgeb held a series of meetings with senior International Monetary Fund officials including First Deputy Managing Director Dan Katz, Deputy Managing Director Nigel Clarke, Middle East and Central Asia Department Director Jihad Azour, and IMF Mission Chief for Pakistan…

Read More

Wildfire near Boston Bar community in Canada grows more than fourfold overnight

‘Based on today’s weather forecast, we are expecting another challenging day,’ says British Columbia Wildfire Service A wildfire near the Boston Bar community in Canada’s British Columbia province grew more than fourfold overnight as firefighters faced hot, dry conditions expected to fuel further intense fire activity, according to the British Columbia Wildfire Service on Wednesday….

Read More

Court rejects PTI plea in Nov 26 case

Cites repeated failure of PTI chairman to record statement, lack of supporting evidence ISLANAABAD: An Islamabad additional district and sessions court dismissed a private complaint filed by the PTI against Prime Minister Shehbaz Sharif, some key ministers and policemen over allegations of killing party workers during the November 26, 2024 protest at Islamabad D-Chowk. Additional…

Read More

fm Dar, Australian counterpart discuss regional tensions, stronger bilateral ties

Earlier, Dar meets Omani FM, agree to strengthen collaboration through high-level exchanges, trade, investment Deputy Prime Minister and Foreign Minister Ishaq Dar meets Australia’s Foreign Minister Senator Penny Wong on the sidelines of the ASEAN Regional Forum (ARF) 2026 in Manila. PHOTO: FO Deputy Prime Minister and Foreign Minister Ishaq Dar met Australia’s Foreign Minister…

Read More