FBI opens criminal probe in Baltimore bridge collapse, fourth body recovered
WASHINGTON: The FBI said on Monday it opened a criminal probe into the collapse of a Baltimore bridge in March when a ship crashed into a bridge support, while local officials confirmed the recovery of a fourth body from the incident. FBI agents boarded the cargo ship Dali to conduct court-authorized law enforcement activity regarding […]
Faizabad commission gives clean chit to agencies, Faiz Hameed
ISLAMABAD: The Faizabad sit-in commission has given a clean chit to the country’s spy agencies as well as former spymaster Lt Gen (retd) Faiz Hameed, observing that former high-ups of provincial and federal governments did not accuse the agencies or any other officials for extending facilitation to Tehreek-e-Labbaik Pakistan (TLP) protestors. The commission further noted that no evidence […]
Mughal Energy offers 10% shares for GEM board
KARACHI: Mughal Energy, a wholly owned subsidiary of Mughal Iron and Steel Industries, has initiated the process of selling 10% of its shares to new investors. The aim is to raise financing and get listed on the Growth Enterprise Market (GEM) Board at the Pakistan Stock Exchange (PSX). In a notification to the PSX, Mughal […]
Australia says Assyrian church stabbing was terrorist act
SYDNEY: Australian police on Tuesday said a knife attack on an Assyrian church bishop and some followers in Sydney was a terrorist act motivated by suspected religious extremism, as the country reeled from a second stabbing incident in three days. At least four people were wounded in the attack, including Bishop Mar Mari Emmanuel of the […]
Banks hesitant to fund wheat buying
ISLAMABAD: As provinces remain trapped in a huge commodity debt pile, banks are reluctant to provide loans to provincial governments for wheat procurement without securing federal government guarantee. The issue was taken up in a recent meeting of the Economic Coordination Committee (ECC) while discussing a proposal to hand over wheat procurement tasks to provinces. […]
Multiple schemes ready to attract Saudi investment
ISLAMABAD: Pakistan has decided to pitch the Diamer-Basha dam project for equity partnership with Saudi Arabia in return for $1.2 billion in investment along with a host of other schemes, as both nations are set to begin discussions for finalising the $5 billion investment package. The Saudi authorities would be given two options for investing […]
Pakistan, IMF discussing new multi-billion-dollar programme, says finance czar
WASHINGTON: Pakistan has initiated discussions with the International Monetary Fund (IMF) over a new multi-billion dollar loan agreement to support its economic reform program, said Finance Minister Muhammad Aurangzeb. The country is nearing the end of a nine-month, $3 billion loan programme with the IMF designed to tackle a balance-of-payments crisis which brought it to the […]
Alarm over ‘reversal’ of development
WASHINGTON: Half of the world’s 75 poorest countries are experiencing a widening income gap with the wealthiest economies for the first time this century in a historical reversal of development, the World Bank said in a report on Monday. The differential between per capita income growth in the poorest countries and the richest has widened […]