Pakistan Financial News

Lenders to debt-ridden Reliance Capital Ltd (RCAP) have alleged that Hinduja Group firm IIHL is indulging in delaying tactics, resulting in slowdown in implementation of the resolution plan. Mauritius-based IndusInd International Holdings Ltd (IIHL) emerged as a successful bidder for acquisition of Reliance Capital. The NCLT Mumbai on February 27, 2024, approved IIHL's Rs 9,861-crore resolution plan for the debt-ridden financial firm. According to sources, lenders claimed that IIHL's move to seek approval from the Department of Industrial Policy and Promotion (DIPP) is an afterthought.

Champions Trophy 2025, scheduled to be hosted by Pakistan, has stirred discussions in the cricketing world, especially regarding India's potential participation. Despite being chosen as hosts, Pakistan faces challenges due to the ongoing political tension between the two nations, which has hindered any bilateral cricketing series since 2013.

The downfall of former Bangladeshi prime minister Sheikh Hasina unfolded faster than almost anyone expected. In early July, students took to the streets in its capital Dhaka and other cities to protest the country’s job-quota system that reserved 30% of civil-service positions for veterans of the 1971 War of Independence and their descendants. Police were ordered to quell the unrest, and given permission to shoot if needed.

Pakistan faces a rise in terrorist attacks over the past few years, its troubled Balochistan province was hit this week by a series of assaults that have resulted in over 70 fatalities. The coordinated attacks, possibly the most extensive of their kind in recent history, were carried out by the separatist Baloch Liberation Army (BLA). These events have once again highlighted the Baloch insurgency, driven by long-standing neglect and the exploitation of Balochistan's natural resources, revealing the province as a vulnerable point for Pakistan. The attacks, which saw BLA targeting police stations and taking control of major highways, coincided with the death anniversary of Baloch leader Nawab Akbar Khan Bugti, who was killed 18 years ago in one of then president Pervez Musharraf's counter-insurgency operations. Bugti's death only highlighted the shortcomings of military action, as it failed to address the true needs and aspirations of the tribal population. This lack of genuine engagement led to the rise of additional armed separatist groups, which now not only target Pakistani security forces and Chinese interests but also attack Punjabi and Sindhi migrant workers.

Ukraine’s incursion into Kursk isn’t just a brash bid to upend Russia’s invasion. It also marks the first time that a declared nuclear power has faced invasion and occupation by another country. For decades, nuclear-escalation theory has presumed that countries with atomic weapons were largely immune from attack because an aggressor risked triggering armageddon.

Pakistan's Inter-Services Intelligence (ISI) with terrorist groups, former US National Security Advisor Lt Gen (retd) H R McMaster has said, revealing that during his tenure under then President Donald Trump, the White House faced resistance from the state department and Pentagon over providing security aid to Islamabad. Despite directions from Trump to stop all aid to Pakistan till it stops giving safe havens to terrorists, McMaster in his latest book 'At War with Ourselves: My Tour of Duty in the Trump White House' says that the then Defence Secretary Jim Mattis was planning to deliver a military aid package to Islamabad that included over USD 150 million worth of armoured vehicles. However, the aid was stopped after his intervention, McMaster writes in the book that hit the bookstores this week.

cyclone «Asna,» a deep depression over the Arabian Sea, causing heavy rains in Gujarat, is likely to move West-Northwest over the Northeast Arabian sea and away from the Indian Coast during the next 24 hours. Additionally, the IMD stated that the deep depression has been moving at a speed of 14 km per hour with a latitude of 23.6° N and a longitude of 66.4°E, 250 km West of Naliya in Gujarat, 160 km South-South West of Karachi in Pakistan, and 350 km East- Southeast of Pasni in Pakistan. Earlier on Friday, IMD scientist Ramashray Yadav said that Ahmedabad and Gandhinagar would receive light to moderate rains.

agitation) for the BJP as the party strives to safeguard the rights of people of the Union Territory which he said the NC-Congress alliance is out to usurp. Reddy, who is also the party's election in-charge in J&K, alleged during an interaction in Jammu that the NC-Congress pre-poll alliance is a «black alliance» aimed at bringing back the «black law of Article 370», which he referred to as «Jinnah law». «BJP took a historic step in August 2019 but this black coalition of NC and Congress want to bring back Article 370 whose abrogation has liberated the people of J&K and given them the rights enshrined in the Constitution of Babasaheb Ambedkar,» said Reddy. To ensure that the rights of people of J&K are not snatched again, the BJP will work hard to keep the «dark forces» away in the interest of the people of J&K, he said. The BJP minister alleged that 46,000 people have been killed in J&K since 1947 because of the follies of the Congress, Jawaharlal Nehru and Indira Gandhi. He said the Congress has again joined hands with the Abdullahs of NC to destroy the region.

India confirmed on Friday that it has received an invitation from Pakistan for the upcoming Shanghai Cooperation Organisation's (SCO) Council of Heads of Government meeting to be held in Islamabad in October. Pakistan invited Prime Minister Narendra Modi on Thursday to the SCO's Council of Heads of Government meeting. «Yes, we have received an invitation from Pakistan for the SCO's Council of Heads of State that is to happen. We do not have an update on that,» a spokesperson of the Ministry of External Affairs (MEA) said in response to a reporter's question during his media briefing here. Pakistan holds the rotating chairmanship of the SCO Council of Heads of Government (CHG) and in that capacity, will be hosting the two-day in-person SCO Heads of Government meeting in October.

Kutch district have asked people living in huts and makeshift houses to take shelter in schools, temples or other buildings after the IMD said that a deep depression over the area might turn into a cyclonic storm by Friday morning. Following the warning by the India Meteorological Department (IMD), Kutch Collector Amit Arora issued a video message asking people living in Abdasa, Mandvi and Lakhpat talukas to leave their huts and kutcha houses and take shelter in any school or other buildings. He also urged locals to come forward and provide shelter to such poor people in their houses till Friday evening. In a statement on Thursday night, IMD said, «Deep depression over Kutch and adjoining areas is likely to move nearly westwards into northeast Arabian sea and intensify into a cyclonic storm during next 12 hours. It would then move west-northwestwards away from Indian coast during subsequent two days.»

Line of Control in Kupwara district of northern Kashmir. Army officials informed that a joint anti-infiltration operation was launched by the Indian Army and Jammu and Kashmir police following Intelligence inputs regarding likely infiltration bids on the intervening night of Aug 28-29 in Tangdhar of Kupwara district. “One terrorist is confirmed to have been eliminated. The operation is in progress,” the army informed.

Line of Control in Kupwara district of northern Kashmir. Army officials informed that a joint anti-infiltration operation was launched by the Army and Jammu and Kashmir police following Intelligence inputs regarding likely infiltration bids on the intervening night of Aug 28-29 in Tangdhar of Kupwara district. «One terrorist is confirmed to have been eliminated. The operation is in progress,» the army informed.

Traders in Pakistan are observing a daylong strike by shutting down their businesses in all major cities and urban areas to protest a rise in electricity costs and new taxes imposed on shop owners

Hockey India named an 18-member Indian men's hockey team for the prestigious Asian Champions Trophy scheduled to begin in Hulunbuir, Inner Mongolia in China from September 8 to September 17. The tournament will see Asia's top hockey-playing nations India, Korea, Malaysia, Pakistan, Japan and hosts China vie for honours. The defending Champions India will be led by ace drag-flicker Harmanpreet Singh and will be supported by experienced midfielder Vivek Sagar Prasad as the vice-captain.

former Indian Army personnel from Uttar Pradesh's Hapur district has been convicted and sentenced to rigorous imprisonment by an NIA special court here in a Pakistan-operated espionage case. As per investigations, Saurabh Sharma, formerly a signalman in the Indian Army, was lured into the spying racket by a pseudonymous entity operated by Defence/ISI agents of Pakistan, said an official statement issued by the NIA on Wednesday. He had shared restricted and confidential secret information about the Indian Army with this pseudo entity, 'Neha Sharma', the statement said. The leaked information included sensitive details pertaining to Indian military installations, it said.

Barzakh — which means the land of limbo — is an otherworldly series about how closely those who have left us behind might still be listening. The conversations dangle on. Barzakh is streaming on Zee5, and — for free and in 4k resolution — on Zee Zindagi’s YouTube channel.

Virat Kohli moved up two rungs to eighth place while his captain Rohit Sharma dropped a spot to sixth in the latest ICC Test rankings released here on Wednesday. Joining Rohit and Kohli in the top 10 is young Yashasvi Jaiswal, who has moved up a spot to seventh. Veteran England batter Joe Root maintained his place as the top ranked Test batter in the world following their success in the opening Test against Sri Lanka in Manchester. But Root's teammate Harry Brook has made a massive jump on the back of scores of 56 and 32 during that Old Trafford contest.

Heavy rains lashed Gujarat and created a flash-floods like situation in several parts of the state. Meanwhile, Surat received 4 cm of rain as per India Met Department and will continue to receive isolated heavy rainfall on Wednesday.

Pakistan Billiards and Snooker Association has lodged a formal complaint with the sport's world governing body and the organisers after their squad was denied visas by the Indian High Commission for the IBSF U-18 and U-21 World Championships, which began in Bengaluru on Saturday. A top official of the PBSA said that they couldn't secure visas for their three players, Ahsan Ramazan, Hasnain Akhtar and Hamza Illyas. «We had applied to the Indian High Commission on time after getting all NOCs from our government and Pakistan Sports Board. But they didn't issue visas due to which our squad could not travel to Bengaluru,» Alamgir Sheikh said. He said the three players had recently done very well for Pakistan and had very good chances of doing well in the world events but were deprived of an opportunity.

Vanathi Srinivasan on Sunday said it «impossible» for the opposition parties NC and PDP to ensure Article 370 restoration but they are fooling people by guaranteeing it in their manifesto for the Jammu and Kashmir assembly elections. Addressing reporters after a meeting of Jammu and Kashmir Mahila Morcha at the BJP headquarters here in the run-up to the assembly polls, Srinivasan said the younger generation in the union territory want a peaceful life and development, which can only be ensured by her party. In its manifesto, the National Conference (NC) mentioned 12 guarantees, including the restoration of Article 370 and Jammu and Kashmir's statehood, while People's Democratic Party (PDP) promised to pursue the restoration of Jammu and Kashmir to its «original status», and advocate for confidence-building measures (CBMs) and regional cooperation between India and Pakistan. In August 2019, the BJP-led government abrogated Article 370, which gave special status to Jammu and Kashmir, and bifurcated the erstwhile state into two Union Territories — Jammu and Kashmir and Ladakh.

Imran Khan's trial in cases concerning the violence on May 9 last year might go to the military courts, a government spokesperson has said. The events and vandalism on May 9 last year invited the application of the Army Act since military installations were attacked and damaged, Government spokesperson for legal affairs Barrister Aqeel Malik was quoted as saying by Dawn newspaper. On May 9 last year, violent protests erupted after the arrest of 71-year-old Pakistan Tehreek-e-Insaf (PTI) party founder Khan by paramilitary Rangers from the premises of the Islamabad High Court in connection with an alleged corruption case. His party workers allegedly vandalised a dozen military installations, including the Jinnah House (Lahore Corps Commander House), the Mianwali airbase and the ISI building in Faisalabad. A mob also attacked the Army headquarters (GHQ) in Rawalpindi.