Author: i2wtc
ISLAMABAD: Pakistan has informed the International Monetary Fund (IMF) that its external sector will benefit from the floods due to an expected upsurge in remittances that may now hit $43 billion, enough to offset any dip in exports and keep the current account deficit under check. The Pakistani authorities shared their macroeconomic assessment of the post-flood scenario with the IMF, which did not depict any element of concern, according to government sources. The assessment suggests a stable inflation rate around 7% and the economy still growing close to 4%. The conservative official assessment was that workers’ remittances may reach nearly…
Meta CEO Mark Zuckerberg holds a smartphone as he makes a keynote speech at the Meta Connect annual event at the company’s headquarters in Menlo Park, California, on Sept. 25, 2024.Manuel Orbegozo | ReutersMeta will soon show ads and other content to users based on their interactions with the company’s digital assistant and related products powered by generative artificial intelligence.The social media giant announced the update to its recommendation system on Wednesday, and said it will go into effect on Dec. 16. Users will receive notifications of the change starting on Oct. 7.The move underscores how Meta is attempting to…
Artists performs for tourists at the Qilou old street in Haikou, south China’s Hainan Province, Oct. 1, 2025. This year, with China’s Mid-Autumn Festival falling alongside National Day, an eight-day holiday starting Wednesday is set to energize local economies through a surge in cultural tourism. (Xinhua/Yang Guanyu)SHENYANG, Oct. 1 (Xinhua) — This year, with China’s Mid-Autumn Festival falling alongside National Day, an eight-day holiday starting Wednesday is set to energize local economies through a surge in cultural tourism.According to the Ministry of Transport, China is expected to see around 2.36 billion passenger trips nationwide during the period, highlighting the country’s…
ISLAMABAD: During the hearing of a tax case, the head of the Supreme Court’s constitutional bench (CB) observed that the CB wanted to wrap up the case expeditiously in view of the crucial hearings on petitions challenging the 26th Constitutional Amendment. “The bench wants to conclude the case as soon as possible, as hearings on the 26th Constitutional Amendment are set to begin on October 7,” Justice Aminuddin Khan noted on Tuesday. Justice Khan was leading a five-member bench hearing petitions filed against the imposition of a super tax. In October last year, the ruling coalition bulldozed the 26th Constitutional…
Donald Trump Jr. and Eric Trump gesture outside the Nasdaq building after ringing the opening bell to celebrate the closing of ALT5’s $1.5 billion offering and adoption of its $WLFI Treasury Strategy at the Nasdaq Market, in New York City, U.S., August 13, 2025. Eduardo Munoz | ReutersSINGAPORE — World Liberty Financial, a crypto venture linked to U.S. President Donald Trump, is planning to launch new products, including a debit card and tokenized commodity assets, as the Trump crypto empire continues to grow.The firm’s CEO, Zach Witkoff, made the announcements speaking alongside WLFI’s co-founder, Donald Trump Jr. on Wednesday.The debit…
Jim Farley, president and chief executive officer of Ford Motor Co., at Ford Pro Accelerate in Detroit, Michigan, US, on Tuesday, Sept. 30, 2025. Jeff Kowalsky | Bloomberg | Getty ImagesDETROIT — “A lot of surprises.” That’s how Ford Motor CEO Jim Farley described his past five years leading the Detroit automaker, which he believes now has a solid foundation.For Farley, who marks his fifth anniversary as CEO on Wednesday, there have been industry-wide problems to deal with, as well as Ford-specific issues that the company is still in the process of navigating.The 63-year-old CEO has been working to make…
ISLAMABAD Pakistan welcomed US President Donald Trump’s 20-point peace plan, signalling a potential participation in an International Stabilization Force (ISF) that could be deployed to Gaza. On Tuesday, Foreign Minister Ishaq Dar, who was part of the hectic diplomatic efforts with his other counterparts from Arab and Islamic countries, told a news conference here that Indonesia had offered to deploy 20,000 troops in Palestine. “We hope Pakistan’s leadership will also take a decision in this regard,” Dar said, while responding to a question whether Pakistan would join the proposed ISF for deployment in the region. The minister, however, clarified that…
Pakistan Cricket Board (PCB) and Asia Cricket Council (ACC) Chairman Mohsin Naqvi on Wednesday refuted claims by Indian media that he had apologised to the Board of Control for Cricket in India (BCCI) over the trophy handover issue at Sunday’s Asia Cup final. The closing ceremony of the men’s Asia Cup descended into farce on Sunday as the Indian cricket team refused to collect the winners’ trophy from the ACC chief, marking a historic low in cricketing relations between the two countries. Subsequently, Indian skipper Suryakumar Yadav complained his side were denied the trophy after winning the Asia Cup. Later,…
It was a terrific third quarter for Wall Street as the stock market hit record high after record high. The S & P 500 and Nasdaq climbed 7.8% and 11.2%, respectively, from the June 30 close to Tuesday’s close, the session before the start of the fourth quarter, which began on a sour note after the government shut down early Wednesday morning. The final quarter of the year is historically the strongest for stocks. We will have to see if that holds true in an already stellar 2025, which has seen the S & P 500 and Nasdaq gain more…
ISLAMABAD: The Senate Standing Committee on Poverty Alleviation & Social Safety has recommended expanding the capacity of the Benazir Income Support Programme (BISP) and Pakistan Baitul Maal, stressing the need for increased resources and institutional support to strengthen both initiatives. The committee, which met in Islamabad to review the performance, chaired by Senator Sardar Al Haj Muhammad Umer, projects and finances of BISP and Baitul Maal, was attended by Senators Dost Ali Jeesar and Rubina Qaim Khani, while Senator Rubina Khalid, Chairperson BISP, also participated. Briefing the committee on deputationists working in BISP, Senator Rubina Khalid said that 11 officers…