saudi arabia rolls
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Saudi Arabia rolls over $3bn loan to Pakistan

ByJustpaste.in

ISLAMABAD: Saudi Arabia has extended the tenure of its $3 billion financial facility to Pakistan, providing significant relief to the country’s external financing position and reducing immediate repayment pressure.

Federal Finance Minister confirmed the development, describing it as a timely boost for Pakistan’s economy. The financial support, which was initially arranged to help Pakistan meet its payment obligations to the United Arab Emirates (UAE), was originally granted for a three-month period.

With the extension now in place, Pakistan has gained additional fiscal breathing space as it continues to manage its external liabilities and strengthen foreign exchange reserves.

Officials at the State Bank of Pakistan said the rollover of external financial support, amounting to $5 billion in total, has further reinforced the country’s foreign exchange position while easing short-term external payment obligations.

According to government officials, Saudi Arabia currently holds $8 billion in deposits with Pakistan. They added that Pakistan had secured the $3 billion facility from the Kingdom in April this year.

For the fiscal year 2026–27, Pakistan’s external financing requirement has declined to $21.5 billion, reflecting an improvement in the country’s financial outlook. Officials also noted that interest payments on foreign debt have fallen by nearly half a billion dollars, helping reduce the overall debt-servicing burden.

The State Bank further revealed that Pakistan repaid $2.2 billion in external loans during July. Despite these repayments, Saudi Arabia’s decision to extend the loan has provided a crucial financial cushion, supporting economic stability and strengthening investor confidence.

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    US strikes IRGC bases after Iran missile attack

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    The Middle East moved a step closer to a broader regional conflict after the United States launched large-scale airstrikes against dozens of Islamic Revolutionary Guard Corps (IRGC) facilities across Iran in retaliation for Tehran’s ballistic missile attack targeting American forces stationed in the region. According to the US Central Command (CENTCOM), the operation targeted military command centers, drone infrastructure, weapons depots and other strategic IRGC installations during a coordinated two-hour campaign. US officials said the strikes were intended to weaken Iran’s ability to threaten American troops, commercial shipping lanes and allied Gulf nations. Iranian state media reported that at least three people were killed during strikes on Qeshm Island, while authorities vowed that the country would continue defending its territory against what it described as “American aggression.” The crisis quickly spread beyond Iran’s borders. Jordan announced that its air defence systems intercepted five missiles following Iran’s confirmed launch toward US military installations in the kingdom. Washington maintained that all missiles directed at American bases were successfully intercepted, preventing casualties among US personnel. In another major development, US and Saudi forces carried out coordinated strikes against Iran-backed armed groups operating in eastern Iraq after drone attacks launched from Iraqi territory targeted Saudi oil facilities. The joint operation marked the first publicly acknowledged military action conducted together by Washington and Riyadh against Iran-aligned militias. Regional instability deepened further after a fire broke out aboard a US-owned gas storage tanker at Egypt’s Mediterranean port of Damietta. Although maritime security experts suggested the blaze may have resulted from a drone strike, Egyptian officials confirmed only the fire and said investigations into its cause were continuing. The latest escalation comes against the backdrop of months of confrontation between Iran, the United States and Israel. Fighting resumed after disputes over the strategically important Strait of Hormuz ended a short-lived ceasefire reached in June. US President Donald Trump reiterated that America would respond decisively to attacks on its forces while insisting diplomatic efforts remained active. However, continued military exchanges around the Strait of Hormuz have complicated negotiations and increased concerns over global energy supplies. Iran has claimed it targeted three tankers attempting to pass through what it called an unauthorized route in the strait, while rejecting an Omani-backed proposal supported by Gulf states for joint management of the crucial waterway. The conflict has also rattled global energy markets, with Brent crude prices climbing above $90 per barrel before easing later in trading. Meanwhile, Iraq’s Iran-backed Popular Mobilisation Forces said at least 20 of their fighters were killed in the US-Saudi strikes, prompting Baghdad to condemn the attacks as a violation of its sovereignty while urging all armed groups to halt cross-border military operations. Saudi Arabia has also intensified diplomatic efforts, with Defence Minister Prince Khalid bin Salman meeting US Vice President JD Vance in Washington to urge restraint. Saudi officials reportedly warned that expanding military operations against Yemen’s Houthis and Iran-backed militias in Iraq could trigger unpredictable consequences across the Middle East, highlighting growing fears that the conflict could widen even further.

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    PTI must apologise to Fazl, says Kundi

    ByJustpaste.in

    Khyber Pakhtunkhwa Governor Faisal Karim Kundi has urged Pakistan Tehreek-e-Insaf (PTI) to apologise for its past statements and criticism directed at Jamiat Ulema-e-Islam-Fazl (JUI-F) chief Maulana Fazlur Rehman. Speaking to journalists in Nowshera, Kundi said PTI’s current political position appeared different from its earlier stance towards Fazlur Rehman. He said the party should acknowledge its previous remarks and offer an apology. The governor also criticised PTI’s approach towards the judiciary, saying the party had celebrated certain court decisions in the past but later faced adverse verdicts from the same judicial system. Kundi said PTI supporters had previously distributed sweets when courts issued decisions they considered favourable. However, he noted that subsequent decisions by courts resulted in PTI founder Imran Khan being sent to jail. He argued that political parties should maintain a consistent position on state institutions and should not support institutions only when their decisions favour them. Turning to the situation in Khyber Pakhtunkhwa, Kundi strongly criticised the provincial government and accused it of failing to address the province’s major governance and security challenges. He alleged that political activities and what he described as political drama surrounding Adiala Jail and D-Chowk had continued for years, while the province faced serious issues related to law and order. The governor claimed that the security situation had deteriorated and alleged that the province was being left vulnerable to militants. He said restoring peace and ensuring effective governance should be the government’s primary responsibilities. Kundi also pointed to what he described as a significant change in PTI’s political relationships. He said the party now regarded Maulana Fazlur Rehman and Mahmood Khan Achakzai as important political allies or figures, despite its previous criticism of them. He said the change in political positioning made it even more important for PTI to address its past statements against Fazlur Rehman. The governor’s comments come amid continued political disagreements between the federal and provincial governments, with security, governance and political alliances remaining major areas of contention.

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    US appeals Court again blocks Trump’s $100,0…

    ByJustpaste.in

    The Trump administration has suffered another legal setback after a US federal appeals court refused to reinstate a controversial $100,000 fee for H-1B visas, dealing a fresh blow to the administration’s immigration policy. A three-judge panel of the First US Circuit Court of Appeals in Boston ruled that the administration had failed to demonstrate a strong likelihood of success in its appeal or prove that it had acted within its legal authority when imposing the massive fee increase. The decision comes in a lawsuit filed by attorneys general from 20 Democratic-led states, who challenged the legality of the policy soon after it was introduced. The appeals court’s ruling leaves in place an earlier decision issued on June 8, when a lower court declared the $100,000 H-1B visa fee unlawful. That court concluded that Congress had never granted the executive branch the authority to impose a charge of that magnitude, describing it as a tax that exceeded the administration’s legal powers. President Donald Trump introduced the fee increase through an executive order issued last year, arguing that the H-1B visa program had been widely used by companies to replace American workers with lower-paid foreign professionals. The administration maintained that the significantly higher fee would discourage misuse of the program and encourage employers to prioritize hiring US workers. Critics, however, argued that the measure would severely disrupt industries that rely on highly skilled international talent, particularly the technology, healthcare and engineering sectors. Under current immigration rules, the United States issues 65,000 H-1B visas annually, along with an additional 20,000 visas for applicants holding advanced academic degrees from US institutions. The visas are generally granted for periods ranging from three to six years. Before Trump’s proposed increase, employers typically paid between $2,000 and $5,000 in government filing fees for an H-1B visa, depending on the size of the company and other applicable charges. The proposed $100,000 fee would not have applied to foreign nationals already in the United States on student visas who later transitioned to H-1B status. The latest court ruling represents another significant legal obstacle for the Trump administration’s immigration agenda and ensures that the dramatic fee increase will remain suspended while the broader legal battle continues.

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    One killed, Several injured in multiple traffic ac…

    ByJustpaste.in

    A series of traffic accidents across Karachi claimed the life of one young man and left several others injured, including multiple police officers. Authorities have taken swift action by arresting suspects, seizing vehicles involved in the incidents, and launching investigations into the causes of the crashes. According to SHO Sohail Farooq, an 18-year-old identified as Rehman lost his life after a trailer collided with his motorcycle. Two other victims, 23-year-old Shahryar and 32-year-old Zain, sustained injuries in the accident and were immediately shifted to a hospital, where they are receiving medical treatment. Police officials confirmed that the trailer driver, identified as Zaman, was arrested shortly after the incident. The trailer and the victim’s motorcycle have been taken into police custody as investigators continue to examine the circumstances surrounding the fatal crash. In a separate incident near Abbas Cut on the Northern Bypass in Gulshan-e-Maymar, a Rescue 15 police officer named Khalid was injured when his motorcycle was struck by a rickshaw. SHO Muhammad Ali Niazi stated that the rickshaw driver fled the scene following the collision. Police have seized the rickshaw and launched a search operation to locate and arrest the driver. Another traffic accident occurred near Bilawal Chowrangi in Clifton, where Special Branch Head Constable Mehboob was injured after being hit by a car while riding his motorcycle. SHO Riaz Niazi of Boat Basin Police Station confirmed that the driver was taken into custody, and the vehicle involved in the accident has been impounded for further investigation. Additional road accidents were also reported in other parts of the city. Near Baldia No. 2 Police Checkpost, 35-year-old police officer Javed suffered injuries in a traffic collision. In another incident near Numaish Chowrangi, traffic police officer Akram was injured after being hit by an unidentified vehicle, whose driver fled the scene. The recent string of Karachi traffic accidents has once again highlighted growing concerns over road safety, reckless driving, and compliance with traffic regulations. Residents have urged authorities to strengthen enforcement measures, particularly against negligent drivers of heavy vehicles, to help prevent further tragedies. Police continue to investigate all reported incidents and have assured the public that those responsible will face legal action.

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    Gold prices rise ahead of US inflation data

    ByJustpaste.in

    Gold prices advanced nearly 1% on Wednesday as investors reduced expectations of further monetary tightening by the US Federal Reserve and turned their attention to upcoming inflation figures that could provide fresh clues about the central bank’s next policy move. Spot gold rose 0.9% to $4,406.34 per ounce by 0330 GMT, while US gold futures for December delivery gained 0.6% to $4,466.70. The precious metal remained supported after recording strong gains in recent sessions, although prices faced technical resistance around the 100-day moving average. Gold had climbed to a 10-week high on Tuesday before retreating from the key technical level near $4,387 per ounce, marking its second decline this month. Market analysts said changing expectations for US interest rates were providing an important boost to bullion. “The primary driver for gold is the reduction in pricing of rate hikes by the Fed,” said Kelvin Wong, senior market analyst at OANDA. He added that gold had also benefited from a technical breakout above the $4,200 level late last week, which helped strengthen upward momentum and encouraged further buying. Weaker jobs data shifts Fed expectations Gold’s recent rally has been supported by signs of cooling in the US labour market. Bullion recorded its strongest weekly performance since January on Friday after employment data came in weaker than expected, prompting traders to reassess expectations for further interest-rate increases. According to the CME FedWatch Tool, markets were pricing in roughly a 50% probability of a rate hike in September, compared with about 60% before the release of the jobs report. Investors are now awaiting the latest US Consumer Price Index figures, due later on Wednesday. The inflation report could have a significant impact on expectations for the Federal Reserve’s upcoming decisions. A softer-than-expected inflation reading could reinforce expectations for a less aggressive monetary policy stance, potentially providing additional support to gold. Conversely, stronger inflation could revive concerns about higher interest rates and put pressure on non-yielding assets. Gold typically benefits from lower interest rates because bullion does not generate interest income. When borrowing costs and bond yields decline, the opportunity cost of holding gold tends to fall, making the metal more attractive to investors. However, Chicago Federal Reserve President Austan Goolsbee has cautioned that inflation remains a key concern. He said he was more worried about inflation remaining excessively high than about weakness in the labour market, highlighting the challenge facing policymakers as they balance price stability against employment conditions. Geopolitical tensions add to safe-haven demand Geopolitical developments in the Middle East also remained an important factor for financial markets. Oil prices extended their gains after the United States and Yemen’s Iran-aligned Houthi movement reported separate attacks involving shipping on Tuesday. At the same time, hopes for an agreement to end the conflict involving Iran appeared to weaken. Iran has indicated that the Strait of Hormuz would remain closed unless Washington agrees to its conditions, raising concerns over the potential impact on global energy supplies. The Strait of Hormuz is a critical route for international oil shipments, and any prolonged disruption could increase energy prices and intensify inflationary pressures worldwide. Such uncertainty can also encourage demand for traditional safe-haven assets such as gold. Silver, platinum and palladium also advance Other precious metals followed gold higher during Wednesday’s session. Spot silver gained 1.2% to $65.46 per ounce. The metal remained below Tuesday’s peak, which marked its highest level since June 22. Platinum also strengthened, rising 0.6% to $1,754.10 per ounce, while palladium advanced 0.8% to $1,370.86.

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    Muhammad Ahmed recalls being humiliated by fellow actor

    ByJustpaste.in

    Veteran Pakistani actor and writer Muhammad Ahmed has opened up about an upsetting experience in which he says he was repeatedly humiliated by a younger male actor on a drama set. Speaking on Sheeba Khan’s podcast Dareecha, the seasoned artist became emotional as he recalled the incident, saying that some actors behave very differently behind the scenes than they do in public. Muhammad Ahmed began by reflecting on how private interactions often reveal a person’s true nature. He said, “Actors show their true colours in private meetings, as I have experienced multiple times. Most recently, I remained calm when I was bullied because I know everyone has mobile phones, and they can record and post videos online with captions like, ‘See the reality of Muhammad Ahmed.’” He then explained why the remarks hurt him deeply. “I know I am bald, tanned, and short. I know this reality and often make fun of it myself, but what if you are told this by an actor who is 40 years younger than you?” He added that the actor frequently tried to attract attention by making loud comments in front of others. Recalling one such moment, Muhammad Ahmed said the actor mocked him for carrying a leather bag. “He said, ‘Oh Muhammad Ahmad, you are carrying a leather bag with you, it’s pure leather.’ He was shouting in front of everyone so that people would notice him because he was doing the lead role.” He further claimed that the actor also referred to comments Muhammad Ahmed had made years earlier about his performance. “Then he again said, ‘This man, Muhammad Ahmed, rated my acting four or five years ago and judged my future on the basis of it, whether I would survive in the industry or not,’ which is true because I had told the producer that this guy is good, and yes, that drama became a hit.” According to Muhammad Ahmed, he later reunited with the same actor on another project. Although he had expressed concerns to the producer beforehand, he was assured that the actor had changed. However, he said the behaviour continued. He recalled the actor saying, “I don’t know why people cast Muhammad Ahmed. He acts the same and has the same hairstyle.” Describing another incident, Muhammad Ahmed said the actor took a handheld fan from a female co-star, held it over his head like a hairdryer and joked, “Look, I am making his hairstyle.” He said he chose not to respond because he did not want to lower himself to that level or create unnecessary conflict on set. The veteran actor admitted that the experience left him deeply hurt. “I was humiliated, I completed my work and came home. I thought, ‘Am I that weak that I should be humiliated by an actor who joined the industry only eight years ago?’” He added that he remained silent out of respect for the producers and the rest of the team. Muhammad Ahmed concluded by saying that maintaining his composure was a conscious decision. “I didn’t say anything because the producers were so respectful. I maintained my calm because of my team. Nowadays, no one takes a stand for anyone.” His candid remarks have sparked discussion on social media, with many viewers expressing support for the veteran actor and calling for greater respect and professionalism within the entertainment industry.

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