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The Executive Board of the International Monetary Fund (IMF) is scheduled to meet on May 9 to discuss Pakistan’s economic arrangements, including a staff-level agreement for a new $1.3 billion climate resilience loan and the first review of the country’s ongoing $7 billion bailout programme. The board’s discussions will cover two significant aspects: the first review under Pakistan’s Extended Fund Facility (EFF) and a request for an arrangement under the Resilience and Sustainability Facility (RSF). This comes after Finance Minister Muhammad Aurangzeb’s recent visit to Washington, where he expressed optimism regarding the board’s approval in early May. Approval from the IMF…

The Employees Old Age Benefits Institution (EOBI) has announced an increase in the minimum pension, a move aimed at benefiting pensioners across the country. The increase, effective from January 1, 2025, will see the minimum pension rise from Rs10,000 to Rs11,500. Pensions above Rs10,000 will also see an increment of 15%. The decision was made following a briefing held on Monday under the chairmanship of Federal Minister for Overseas Pakistanis, Salik Hussain. T he meeting reviewed EOBI’s performance for the fiscal year 2024-25, where it was revealed that the institution earned an income of Rs 116 billion, marking a 40%…

Pakistan continues to face a relentless heatwave with scorching temperatures reaching alarming levels in several regions. According to the Pakistan Meteorological Department (PMD), the hot and humid weather is expected to persist until April 30, causing considerable concern for residents and authorities alike. Recent reports indicate that temperatures have surged to an extreme 51 degrees Celsius in cities such as Larkana, Dadu, and Turbat. Lahore is not far behind, with highs of 42 degrees Celsius, while Karachi’s mercury has hit 37 degrees Celsius. As the heatwave intensifies, the Met Office has issued warnings for widespread hot weather conditions, particularly in…

Prime Minister Mark Carney’s Liberal Party has won Canada’s national election, sealing a remarkable political comeback in a contest dominated by renewed tensions with the United States under President Donald Trump. Final results on Monday night confirmed that the Liberals secured the most seats in the 343-member parliament, national broadcasters CBC and CTV News reported. However, it remained unclear whether Mr Carney would be able to form a majority government or would need support from smaller parties to govern. The victory marks a stunning turnaround for the Liberals, who earlier this year had been trailing the Conservative Party, led by…

The federal government has intensified its diplomatic efforts to safeguard Pakistani exports from facing additional US tariffs, deciding to dispatch a high-level delegation to Washington within the next 24 hours, sources confirmed on Monday. The delegation, to be led by Federal Minister for Commerce Jam Kamal Khan, will engage in crucial negotiations with the Trump administration to prevent the imposition of a proposed 29% tariff on Pakistani products. Key officials from the Ministry of Commerce, Ministry of Finance, and Foreign Office will accompany the minister to support the discussions. Sources revealed that Pakistan is seeking to address the $3 billion…

Amid escalating tensions between Pakistan and India, the National Computer Emergency Response Team (National CERT) has issued a high-priority advisory warning of an increased risk of cyberattacks targeting Pakistan’s critical infrastructure and government institutions. According to the advisory, hackers could exploit the current geopolitical instability in South Asia and Central Asia to launch sophisticated cyberattacks. Potential targets include government departments, defence installations, financial institutions, and media organizations. The advisory highlights that attackers may deploy methods such as spear-phishing campaigns, malware infections, and the use of deepfakes to breach systems, steal sensitive and confidential information, and disrupt essential services. “The possibility…

The State Bank of Pakistan (SBP) has released its semi-annual report on the state of the economy, highlighting significant improvements in key economic indicators during the first half of the current fiscal year. According to the report, Pakistan’s economic situation showed marked progress, supported by a balanced monetary policy stance, the successful implementation of the International Monetary Fund (IMF) program, and a decline in global commodity prices. These factors collectively helped in reducing inflationary pressures across the country. However, the report pointed out that real GDP growth moderated during the period, mainly due to the lower production of major Kharif…

ISLAMABAD (DI NEWS) : The Embassy of Turkmenistan in Islamabad organized a presentation of the book “Jewel of the Mind” written by the National Leader of the Turkmen people, Chairman of the Halk Maslahaty of Turkmenistan Gurbanguly Berdimuhamedov, for the representatives of local media. At the beginning of the event, it was noted that as part of the celebrations of the 300th anniversary of the birth of the great poet and philosopher Magtymguly Fragi lasted during 2024, a new work by the National Leader of Turkmen people, Chairman of the Halk Maslahaty Gurbanguly Berdimuhamedov – the book “Jewel of the…

China will host the Global Trade and Investment Promotion Summit 2025 in Beijing on May 22, said the China Council for the Promotion of International Trade (CCPIT) . The summit will be themed “Embracing the Digital and Intelligent Era for Shared Development,” Zhao Ping, spokesperson for the CCPIT, told a press conference.

Chinese Foreign Minister Wang Yi met with his Russian counterpart Sergey Lavrov in Brazil’s Rio de Janeiro  to discuss key issues in bilateral relations and the ongoing Ukraine crisis. Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, said that while the international situation is rapidly changing, the mutual trust and support between China and Russia remain unchanged. He highlighted the strategic leadership of both countries and said the two sides must continue to work together to boost cooperation in various areas. Wang also underscored the growing strategic value of BRICS unity and cooperation…