فیچرڈ

  • | |

    US and Japan join hands to stabilize weakening Jap…

    In a rare show of financial coordination, the United States and Japan have confirmed that they jointly intervened in currency markets last week to support the Japanese yen after it plunged to its weakest level in four decades against the US dollar. The move marks the first coordinated intervention between the two allies since 2011, when they acted together following Japan’s devastating earthquake and tsunami. The intervention comes as both governments seek to stabilize the yen and prevent further market volatility that could ripple across the global financial system. Japanese officials and US Treasury Secretary Scott Bessent made it clear that they are prepared to take additional coordinated action if needed to counter excessive fluctuations in the currency. Economists say the joint effort reflects growing concerns that a prolonged depreciation of the yen and instability in Japan’s government bond market could have wider consequences, including increased borrowing costs for the United States and heightened uncertainty in global markets. Analysts also believe that even limited interventions can discourage speculative trading by signaling that authorities are willing to act decisively. The yen has remained under pressure largely because Japan continues to maintain significantly lower interest rates than other major economies. While the Bank of Japan raised its benchmark interest rate to 1% in June—the highest level in nearly three decades—it remains well below the US Federal Reserve’s policy rate of 3.50% to 3.75%, making the dollar a more attractive choice for investors. Japan is also grappling with long-term economic challenges, including a shrinking working-age population, sluggish productivity growth and heavy dependence on imported energy priced in US dollars, all of which have contributed to the currency’s weakness. Japan’s Ministry of Finance stated that the coordinated intervention was aimed at countering excessive volatility and restoring orderly conditions in foreign exchange markets. Secretary Bessent echoed that message, saying the United States strongly supports Japan’s efforts to correct what it views as a significantly undervalued yen. President Donald Trump also defended the move, saying Japan had sought assistance in stabilizing its currency and reaffirming Washington’s commitment to supporting its longtime ally. Following the announcement, the dollar briefly weakened against the yen before regaining some ground. Market observers estimate that Japan may have spent nearly $59 billion purchasing yen in recent interventions, while reports suggest the United States may have bought between $5 billion and $10 billion worth of the Japanese currency, although US officials have not officially confirmed the amount. Financial markets are now closely watching whether further coordinated interventions will be required if pressure on the yen continues, with analysts expecting both governments to remain ready to act in order to preserve stability in global currency markets.

  • | |

    New provinces debate gains momentum as coalition p…

    A renewed debate over the creation of new provinces in Pakistan has gathered political momentum after two major coalition partners publicly endorsed Interior Minister Mohsin Naqvi’s proposal to restructure the country’s administrative system. However, the ruling Pakistan Muslim League-Nawaz (PML-N) has yet to officially comment, fueling speculation over its stance on the sensitive issue. The discussion began after Naqvi argued that Pakistan’s existing administrative framework had become ineffective and called for a national consensus on establishing smaller provinces to improve governance and public service delivery. His remarks quickly drew support from coalition allies, including the Muttahida Qaumi Movement-Pakistan (MQM-P) and the Istehkam-e-Pakistan Party (IPP). Federal Health Minister Mustafa Kamal described the proposal as an urgent national necessity rather than a political choice, stressing that decentralizing administrative powers was essential for effective governance. The MQM-P has long advocated the creation of an additional province in Sindh, making the party one of the strongest supporters of the initiative. Privatization Minister Abdul Aleem Khan of the IPP also endorsed the proposal, suggesting that each of Pakistan’s four existing provinces could eventually be divided into three administrative regions. He argued that smaller provinces would bring government closer to the people and reduce the hardships faced by citizens traveling long distances to provincial capitals. Despite growing support from coalition partners, the proposal faces significant constitutional and political challenges. Any change to provincial boundaries requires a two-thirds majority in the affected provincial assembly, making consensus difficult to achieve. The Pakistan Peoples Party (PPP), which governs Sindh and is also part of the federal coalition, has expressed strong reservations, warning that such a move could create more problems than solutions. Opposition leaders have also criticized the proposal, arguing that the government lacks the political mandate for such a major constitutional change. They insist that strengthening democratic institutions and improving governance should take priority over redrawing provincial boundaries. Political analysts have offered differing views on the initiative. Some believe creating new provinces could deepen ethnic and regional divisions, while others see the debate as an attempt to shift public attention away from pressing national issues, including recent unrest in Azad Jammu and Kashmir and ongoing security challenges in Balochistan. Many experts argue that empowering local governments under the 18th Constitutional Amendment would be a more practical and effective way to improve governance without altering provincial boundaries. Mustafa Kamal also acknowledged that stronger local governments are essential regardless of whether new provinces are eventually created. With the PML-N maintaining silence and key coalition partners taking opposing positions, the proposal has opened a fresh political debate that is likely to remain at the center of Pakistan’s national discourse in the coming months.

  • | | |

    Private sector lending surges 15% in FY2025–26, …

    Pakistan’s private sector borrowing recorded its strongest growth in four years during the fiscal year 2025–26, signaling renewed business confidence and improving economic activity, according to Adviser to the Finance Minister Khurram Shahzad. Shahzad said private sector credit expanded by nearly 15 percent over the fiscal year, with total lending reaching Rs1.138 trillion. He described the increase as a positive indicator of strengthening economic momentum, driven by greater financial support for businesses and productive sectors. According to the adviser, around 89 percent of the new loans were directed toward key segments of the economy, including manufacturing, wholesale and retail trade, and agriculture. These sectors have played a central role in boosting production, expanding commercial activity, and encouraging private investment. The manufacturing sector emerged as the largest beneficiary, receiving Rs657 billion in fresh financing. Shahzad noted that the substantial flow of credit reflects increased industrial expansion, higher production capacity, and growing confidence among manufacturers. He added that improved access to financing for the trade and agriculture sectors has further strengthened business operations and supported economic growth across the country. Shahzad emphasized that the surge in private sector lending demonstrates rising investor confidence and reflects Pakistan’s continued progress toward greater economic stability, stronger industrial performance, and a more resilient business environment.

  • | |

    Lahore police launch major crackdown on loan shark…

    Lahore Police have launched a large-scale operation against illegal moneylenders and their facilitators as part of an intensified effort to protect citizens from financial exploitation, harassment, and intimidation. Authorities have directed police across the city to register cases without discrimination against individuals involved in illegal lending practices, particularly those accused of threatening, blackmailing, or harassing borrowers. The campaign aims to curb predatory lending and ensure strict legal action against offenders. DIG Operations Faisal Kamran said there would be zero tolerance for moneylenders who recover amounts far exceeding the original loans through coercive and unlawful means. He emphasized that no concessions would be granted to those exploiting financially vulnerable people. To strengthen access to justice, Lahore Police have also partnered with the Lahore Bar through a newly signed memorandum of understanding. Under the agreement, deserving and financially disadvantaged citizens will be referred, with their consent, to a panel of lawyers who will provide free legal representation in civil cases. Faisal Kamran added that legal experts have also been engaged to assist in disputes involving inheritance, the return of dowry items, and financial transactions. He assured that police would continue to monitor such cases closely to ensure that victims receive timely justice and legal protection. The initiative reflects Lahore Police’s broader commitment to tackling financial crimes while expanding legal support for vulnerable members of society.

  • | |

    New CCTV footage emerges in Mir Raza Ali murder in…

    Fresh CCTV footage has surfaced in the investigation into the murder of Mir Raza Ali, providing investigators with another potential lead as police continue to examine the circumstances surrounding his death. The newly obtained footage, captured by a surveillance camera overlooking the area where Ali’s body was discovered, shows a motorcycle stopping briefly at the location. According to investigators, the recording is timestamped at 3:36 a.m. on July 29, with the motorcycle remaining at the scene for approximately 20 seconds before leaving. Due to poor lighting, the footage does not clearly reveal the number of people riding the motorcycle or provide any identifying details, making further forensic analysis necessary. Mir Raza Ali, a resident of Karachi’s Pakistan Employees Cooperative Housing Society (PECHS), went missing on July 28 after leaving his home at around 4:09 a.m. in an online taxi. His body was found two days later in Gulistan-e-Jauhar. Police said the victim had sustained a gunshot wound to the chest, and his body was recovered in a severely deteriorated condition, indicating that it had remained at the location for some time before being discovered. Investigators have also revealed that all of Mir Raza Ali’s social media accounts were deactivated a day before his body was found, adding another element to the ongoing probe. Authorities are continuing to review CCTV footage, forensic evidence, and digital records as they work to determine the motive behind the killing and identify those responsible for the crime.

  • | |

    Cheryl Tweedy reportedly in early talks for tell-a…

    Cheryl Tweedy is reportedly in the early stages of discussions for a new documentary that would explore her life, career, and personal journey, offering audiences a closer look at one of Britain’s most recognisable entertainers. While no official announcement has been made, reports suggest several major streaming platforms are interested in the project. The documentary is expected to trace Cheryl’s rise to fame, beginning with her breakthrough on Popstars: The Rivals in 2002. From there, it would revisit the phenomenal success of Girls Aloud, one of the UK’s best-selling girl groups, before following her transition into a successful solo music career and later television appearances. According to reports, the project would also reflect on the challenges and milestones that have shaped Cheryl’s life over the past two decades. Insiders claim she has been highly selective about returning to the public eye after spending recent years largely out of the spotlight, focusing on raising her son, Bear, following the passing of Liam Payne. Streaming giants including Netflix, Amazon Prime Video, and Apple TV+ are reportedly among the platforms interested in securing the documentary. Although negotiations are said to be at an early stage, the possibility of a major streaming release has already generated significant interest online. Fans have responded with mixed reactions across social media. Many are excited by the prospect of hearing Cheryl tell her story in her own words and revisiting defining moments from her career. Others, however, hope she will return to music instead, expressing a desire for new songs rather than a documentary. Questions also remain about how candid the programme might be. Viewers are speculating whether Cheryl will address some of the controversies and highly publicised moments that have surrounded her throughout her career or whether the documentary will focus primarily on her professional achievements and personal growth. Until an official confirmation arrives, the reported project remains the subject of widespread discussion, with many eager to see whether Cheryl will share her story in what could become one of the year’s most talked-about documentary releases. https://www.aol.co.uk/articles/cheryl-tweedys-big-comeback-plans-081502000.html

  • | | |

    Mir Raza was shot 4 times, rejects suicide attempt

    Karachi: Sindh Governor Nahal Hashmi has claimed that the death of young businessman Mir Raza Ali was not a case of suicide, stating that the victim had sustained four bullet wounds. His remarks came while addressing a ceremony held under the Prime Minister’s Youth Laptop Program in Karachi. Speaking to students at the event, the governor said it was an honor to participate in the distribution of laptops, describing the initiative as a significant step toward empowering Pakistan’s youth through education and technology. He credited Prime Minister Shehbaz Sharif for prioritizing educational development and providing students with modern learning opportunities. Hashmi emphasized the importance of education by referring to the Quranic command “Iqra” (Read), saying that knowledge is the foundation of progress. He added that equipping young people with laptops would help them develop the skills needed for the digital era and contribute to the country’s future. Highlighting Pakistan’s technology ambitions, the governor said the country aims to achieve $25 billion in IT exports. He also praised the success of talented students from Karachi who recently established a company that was reportedly sold to Elon Musk for millions of dollars, calling it a source of pride for the nation. The governor reiterated his support for national unity, stressing that Pakistan was founded as a free and sovereign state in line with the vision of Quaid-e-Azam Muhammad Ali Jinnah. He also clarified that he serves as a constitutional governor and remains committed to fulfilling his responsibilities under the Constitution. Commenting on law and order, Hashmi urged authorities to further strengthen security measures in Karachi, noting that larger cities naturally face greater crime-related challenges. He said the city’s crime rate has improved significantly compared to previous years but acknowledged that more work is needed. Referring to the ongoing investigation into Mir Raza Ali’s death, the governor stated that, according to the information available to him, the victim had been shot four times and had not died by suicide. He noted that the investigation is still underway and expressed sorrow over the loss of a young life, saying the final conclusions would depend on the outcome of the official probe.

  • | |

    PML-N rejects rigging claims as AJK polls head tow…

    ISLAMABAD: Pakistan’s ruling Pakistan Muslim League-Nawaz (PML-N) has strongly rejected allegations of election rigging in the ongoing Azad Jammu and Kashmir (AJK) legislative assembly elections, maintaining that the electoral process has remained transparent and democratic despite criticism from opposition parties. The three-phase election, being held under heightened security arrangements, has become one of the most closely watched political contests in recent years. The process has been marked by the boycott of the polls by Pakistan Tehreek-e-Insaf (PTI), accusations of irregularities by the Pakistan Peoples Party (PPP), and weeks of unrest linked to the Joint Awami Action Committee (JAAC), which has challenged the existing electoral structure, particularly the controversial refugee constituencies. Addressing a press conference after the completion of the second phase of polling, Prime Minister’s Adviser on Political Affairs Rana Sanaullah expressed confidence that the PML-N had already secured enough seats to form the next AJK government. He predicted the party would strengthen its position further after the remaining constituencies complete voting in the final phase. Sanaullah described the elections as free, fair and credible, crediting election officials, law enforcement agencies and the AJK administration for ensuring a peaceful voting process under difficult circumstances. He dismissed the PPP’s allegations of rigging, arguing that any complaints should be formally presented before the Election Commission, which has the constitutional authority to investigate and order re-polling wherever necessary. The senior PML-N leader also alleged that elements associated with the PPP and JAAC attempted to create unrest in Muzaffarabad before polling day to discourage voter turnout in areas considered favorable to his party. He said the PML-N would seek an official investigation into those incidents. The PPP, however, continues to challenge the credibility of the elections. Party Chairman Bilawal Bhutto Zardari has alleged widespread irregularities and insisted that several constituencies require independent investigations, claiming that the electoral process has not provided a level playing field for all contestants. One of the central issues surrounding the election remains the 12 refugee constituencies, which represent refugees from Indian-administered Kashmir residing in different parts of Pakistan. Critics argue that these seats allow Islamabad greater influence over government formation in AJK, while the government maintains they are constitutionally protected. Earlier this year, the AJK Supreme Court ruled that the constituencies cannot be abolished without a constitutional amendment. The political atmosphere has also been shaped by protests led by the Joint Awami Action Committee, which initially mobilized against rising electricity prices, taxation and the increasing cost of living before expanding its campaign to demand electoral reforms. Following weeks of demonstrations and clashes with security forces, the AJK government declared JAAC a banned organization under anti-terrorism laws. With unofficial results from the first two phases placing the PML-N in a leading position, attention has now shifted to the third and final phase of polling in Poonch Division, scheduled for August 10. The outcome will determine the composition of the next AJK government and conclude an election that has generated intense political debate across Pakistan.

  • | |

    Kabal bomber identified, probe intensifies

    SWAT: Khyber Pakhtunkhwa Inspector General of Police Zulfiqar Hameed has confirmed that authorities have identified the suicide bomber responsible for the deadly attack near Kabal Police Station in Swat, as investigators continue efforts to uncover the network behind the assault. Speaking to the media in Swat, the provincial police chief announced that a Joint Investigation Team (JIT) would be formed to conduct a comprehensive probe into the bombing. He also confirmed that the families of the police personnel martyred in the attack would receive the government’s martyrs’ compensation package. According to the IGP, intelligence agencies had already been alert to potential security threats, prompting heightened security measures around the police station. He said vigilant police officers intercepted the suicide attacker before he could reach his intended target, triggering the explosion. Zulfiqar Hameed praised the courage of the police personnel and reiterated the force’s commitment to strengthening its operational capabilities. He noted that while terrorist groups continue to reorganize, security forces are actively pursuing militants and will not allow them to regain a foothold in the province. The police chief confirmed that the identity of the suicide bomber has been established, while investigations are ongoing to identify his accomplices and determine the circumstances surrounding the attack. The blast near Kabal Police Station claimed the lives of several people, including police personnel, and left many others injured.

  • | |

    Monsoon fury raises flood risks across Pakistan, N…

    ISLAMABAD: Pakistan’s disaster management authorities have issued a fresh flood alert as intensified monsoon rains continue to push water levels higher in major rivers, raising concerns over flooding in several parts of the country. The National Disaster Management Authority (NDMA) said river flows are expected to increase significantly between August 2 and 4, urging citizens to avoid unnecessary travel to vulnerable areas and remain alert to changing weather conditions. According to the National Emergencies Operation Centre (NEOC), high flooding has been observed in the Lehri River at Head Gogi, while Nullah Palkhu near Wazirabad is experiencing medium-level flooding. The Indus River is currently witnessing low-level flooding at Kalabagh, Chashma, Guddu and Sukkur, while similar conditions have been reported at Head Nari on the Nari River. The NDMA warned that the Chenab River is likely to experience high water flows at Marala, with low to medium flooding anticipated at Khanki and Qadirabad. Water levels are also expected to rise in the Jhelum, Ravi and Kabul rivers and their tributaries as monsoon activity intensifies. Officials cautioned that streams connected to the Jhelum, Chenab and Ravi rivers could swell to medium or high levels. Meanwhile, water flows in the Ravi and Sutlej rivers will largely depend on releases from reservoirs across the border. The authority also expressed concern over the possibility of flash floods in the hill torrents of Dera Ghazi Khan and Rajanpur, as well as seasonal streams in central and southern Khyber Pakhtunkhwa and northern Balochistan. In addition, urban flooding and waterlogging remain a serious threat in several cities, including Rawalpindi, Jhelum, Gujranwala, Lahore, Faisalabad, Peshawar, Mardan, Nowshera, Hyderabad, Badin, Thatta and other parts of Sindh due to continued heavy rainfall. The NDMA advised residents to avoid crossing flooded roads and waterways, monitor weather updates before travelling, and follow safety instructions issued by local authorities. It also encouraged the public to use the official Pak NDMA Disaster Alert mobile application for real-time weather warnings and emergency information. Separately, the Prime Minister’s Emergency Response Committee (ERC) held its 10th consecutive daily review meeting to assess the country’s monsoon situation. The meeting, chaired virtually by Planning Minister Prof Ahsan Iqbal, brought together federal ministries, provincial governments, disaster management authorities and senior administrative officials. During the briefing, the NDMA presented the latest updates on weather conditions, casualties, infrastructure damage, rescue operations and rehabilitation efforts. Officials informed the committee that deputy commissioners in all high-risk districts had already been directed to remain fully prepared for any emergency. The committee was told that recent heavy rains had caused flooding in multiple regions, with coordinated rescue and relief operations continuing through federal, provincial and district authorities. Weather experts also forecast more rainfall across northern and central Pakistan in the coming days, while isolated showers are expected in southeastern Sindh. The NDMA highlighted that relief activities are being carried out with the support of both national and international humanitarian organisations. Officials further noted that most monsoon-related fatalities this season resulted from the collapse of unsafe and poorly constructed buildings, underscoring the need for stricter enforcement of building safety regulations and greater public awareness. The ERC commended the efforts of government institutions, provincial administrations, district authorities, the armed forces and rescue teams for their ongoing response. It directed all relevant departments to strengthen coordination, maintain maximum preparedness, accelerate relief and rehabilitation work, and take preventive measures to minimise the impact of future weather emergencies.