ISLAMABAD: The RUYI Group of China has announced plans to establish internationally standard Textile Parks in Pakistan, facilitated by the Special Investment Facilitation Council (SIFC). These parks, to be located in Sindh and Punjab, are part of the China-Pakistan Economic Corridor project, aimed at strengthening economic cooperation and enhancing bilateral relations between the two countries. A Memorandum of Understanding was signed between the Board of Investment and a delegation from the RUYI Shandong Group during their recent visit to Pakistan. The Chinese group expressed confidence in the SIFC’s initiatives to simplify the investment process in the country. The objective of…
Author: Sajjad Ali
Sajjad Ali
Sajjad Ali is ‘Online Web Editor of Khyber News. He is a journalist by profession and working in field for the last ten years. Previously he worked for national media organizations including ‘The Nation’ Daily Pakistan Today, Khyber News. He also worked in media development sector. He can be reached at sajjad.sovereign@gmail.com
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PESHAWAR: At least eight terrorists were killed in an intelligence-based operation carried out by security forces in the northwest Khyber Pakhtunkhwa province, said a military statement released on Thursday. According to the Inter Services Public Relations (ISPR), the operation was conducted in the Razmak area of North Waziristan based on a tip-off regarding the presence of Khwarij terrorists on the night of September 25-26. During the operation, there was an intense exchange of fire between security forces and the militants, leading to the neutralization of eight Khwarij fighters known for their involvement in terrorism and the targeted killing of innocent…
ISLAMABAD: The International Monetary Fund (IMF) has released the first tranche of $1 billion to Pakistan as part of a new $7 billion loan under the Extended Fund Facility, aimed at addressing the country’s financial challenges. This approval comes over two months after an initial agreement and is designed to provide crucial support to Pakistan’s struggling economy over 37 months. The IMF noted that Pakistan’s economic growth rate reached 2.4% in the last fiscal year, with inflation decreasing to single digits, largely due to a robust agricultural sector and effective fiscal policies that improved the current account deficit and bolstered…
England captain Ben Stokes is “on track” to participate in the upcoming Test series in Pakistan after receiving positive results from scans on his hamstring injury on Wednesday. Stokes missed England’s recent Test series against Sri Lanka due to a hamstring tear sustained while playing for Northern Superchargers in The Hundred on August 11. In his absence, Ollie Pope captained the team as they secured a 2-1 series victory over Sri Lanka. However, Stokes is expected to resume his captaincy for the Test series against Pakistan, following encouraging scan results. England is set to depart for Pakistan next week for…
MOSCOW: President Vladimir Putin issued a stark warning to the West on Wednesday, indicating that Russia may resort to nuclear weapons if faced with conventional missile strikes. He stated that any attack on Russia, particularly if backed by a nuclear power, would be viewed as a joint assault on the nation. This shift in Russia’s nuclear doctrine comes as discussions unfold in the United States and Britain regarding the potential for Ukraine to launch conventional Western missiles into Russia. During a meeting of Russia’s Security Council, Putin emphasized the need to adapt to a rapidly evolving global landscape that presents…
NEW YOR CITY: The United States, France, and several allied nations have called for a 21-day ceasefire along the Israel-Lebanon border while also advocating for a ceasefire in Gaza. This announcement followed extensive discussions at the United Nations. The proposed ceasefire would cover the “Blue Line,” the demarcation between Lebanon and Israel, and aims to facilitate negotiations for a diplomatic resolution, according to a senior official in the Biden administration. The joint statement, released by the White House, included support from countries such as Australia, the United Arab Emirates, Saudi Arabia, and the European Union. Despite this call for a…
In a significant development, the International Monetary Fund (IMF) Executive Board has approved a $7 billion loan for Pakistan during a meeting in Washington. This new financial support program is set to span 37 months, providing essential relief amid the country’s ongoing economic challenges. Sources indicate that Pakistan is expected to receive the first installment of approximately $1 billion or $1.1 billion by September 30. Following the approval of the loan program, a second installment is anticipated within the same financial year. Pakistani officials have confirmed that they have met all preconditions for the loan, including securing an additional $2…
ISLAMABAD: Pakistan’s Prime Minister Muhammad Shehbaz Sharif met with the Crown Prince of Kuwait, Sheikh Sabah Al-Khaled Al-Hamad Al-Mubarak Al-Sabah, on the sidelines of the 79th United Nations General Assembly in New York on Wednesday. According to a press release from the Prime Minister’s Office, the leaders discussed a wide range of bilateral issues, including political, economic, and defense cooperation, as well as people-to-people exchanges. During the meeting, PM Shehbaz emphasized the enduring friendly relations between Pakistan and Kuwait and expressed a commitment to further strengthen these ties. He also expressed interest in fostering mutually beneficial economic investments through the…
PESHAWAR: Contract employees of the Khyber Pakhtunkhwa transport department have called on the government to make their positions permanent and pay their outstanding dues, said a statement. The affected employees of the Road Transport Board stated that they have not received salaries for an extended period. They were initially recruited on fixed pay between January 18, 2021, and September 3, 2021, and were later regularized under the RTB Employee Regulation Act 2022, which was approved by the provincial assembly on May 30, 2022. However, the employees claim that the government has failed to implement the Act, leaving them with no…
KARACHI: Bank Alfalah, a leading commercial bank in Pakistan, has earned international acclaim by winning two awards at the 2024 Global Islamic Finance Awards (GIFA), highlighting its position as a leader in the Islamic banking sector. The Bank received accolades for its contributions to Islamic banking, including the Islamic Banker of the Year 2024 award and the Best Islamic Banking Window Operations Award 2024 under the GIFA Market Leadership Awards category. Bank Alfalah Islamic, founded in 2003, has expanded to over 375 branches nationwide. Offering a full range of Shariah-compliant Islamic banking solutions for corporate, commercial, SME, retail, treasury, trade,…
