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The State Bank of Pakistan (SBP) maintained its policy rate steady at 11 per cent on Monday for a third straight meeting as policymakers weighed inflation risks from flood-hit crops against a fragile economic recovery. After slashing the interest rate by 1,000 basis points (bps) from 22pc since June 2024 in seven intervals, the central bank has maintained it at 11pc since May. However, the business community had expressed disappointment over the decision. “The Monetary Policy Committee (MPC) decided to keep the policy rate unchanged at 11 per cent in its meeting today,” an SBP statement said. The MPC noted that inflation remained “relatively moderate in both July and August, whereas core inflation continued to decline at a slower pace”. “Economic activity — as captured by high-frequency economic indicators, including large-scale manufacturing (LSM) — gained further momentum. However, the near-term macroeconomic outlook has deteriorated slightly in the wake of the ongoing floods,” the committee noted. It cauti...
United States President Donald Trump said on Monday he would call a national emergency and federalise Washington DC after Mayor Muriel Bowser said its police would not cooperate with Immigration and Customs Enforcement (ICE). At issue is the provision of information on individuals living in, or entering, the United States illegally. Trump’s threat adds to a move critics have seen as federal overreach, with more than 2,000 troops patrolling the city. The comments come after several thousand protesters hit the streets this month over Trump’s August deployment of National Guard troops to “re-establish law, order, and public safety“, after calling crime a blight on the capital. “In just a few weeks. The ‘place’ is absolutely booming … for the first time in decades, virtually no crime,” Trump said on Truth Social. Bowser’s office did not immediately respond to a request for comment on Trump’s post. Earlier, he had put the metropolitan police department under direct federal control and sent federal law enforcement,...
India romped to a comprehensive seven-wicket victory in their high-intensity encounter against Pakistan in the men’s Asia Cup 2025 in Dubai on Sunday. The match had been coloured from the start by calls from across the border to ‘boycott’ the fixture. It seems the pressure got to the players as well, with the Indian team refusing to shake hands, as is customary, at the toss and after the match. Then, at the post-match ceremony, Indian captain Suryakumar Yadav seemingly ‘politicised’ the victory by bringing up the Pahalgham terrorist attack in India-occupied Kashmir, over which the two countries fought a four-day military conflict in May, saying the victory was “a perfect gift” for his country. “We stand with the victim’s families of the Pahalgam terror attack, and we express our solidarity, and we want to dedicate today’s win to the armed forces,” the Indian skipper said. Speaking at the post-match press conference, Yadav said: “Our government and the BCCI were aligned. We took a call and came here just to pl...
Another Pakistan-India match, the gulf of quality between the two sides glaring yet again, and brighter than ever. Fair to say Pakistan are a young side undergoing transition under a new captain and a newer team management, but there were enough instances throughout the fixture that highlighted a bigger problem: big-match nerves. One of those few instances was Shaheen Shah Afridi’s late onslaught of 33 off 16, which included four clean hits for sixes. He and Sufiyan Muqeem added 43 off 22 balls — a strike-rate of 195-plus — to drag Pakistan to 127-9 when it looked like the team wouldn’t even get into three figures. If tailenders can do that, why not the specialist batters? India’s Suryakumar Yadav plays a shot during the Asia Cup 2025 T20 International cricket match against Pakistan at the Dubai International Stadium in Dubai, the UAE. — Reuters To put it simply, the pressure of the big occasion got the better of them before India, obviously a well-oiled T20 machine, faced no challenge whatsoever during the c...
Deputy Prime Minister and Foreign Minister Ishaq Dar on Monday called for urgent steps against Israel to “safeguard the global order”, in the wake of Tel Aviv’s strike on Qatar earlier this week. Israel targeted Hamas leaders on Tuesday in strikes on the Qatari capital, killing five Hamas members and a Qatari security officer. The attack drew widespread international condemnation, including from Gulf monarchies allied with the United States, Israel’s main backer. Attending a ministerial meeting in the Qatari capital, Dar delivered a speech where he highlighted that the frequency of meetings to discuss Israel’s activities in the region underlines “how Israel has become a persistent irritant and a danger to world peace and security”, according to the Foreign Office (FO). Deputy PM Ishaq Dar is welcomed in Doha by Qatari officials ahead of a ministerial meeting of the Arab-Islamic summit, on September 14. — screengrab via X/ForeignOfficePk “Pakistan condemns, in the strongest possible terms, the illegal and unpr...5493 items