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Pakistan and Saudi Arabia have concluded seven agreements valued at $560 million. This follows the signing of 34 memoranda of understanding (MoUs) between the two countries in a brief span, highlighting their commitment to deepening bilateral investment across multiple sectors. Prime Minister Shehbaz Sharif chaired a high-level meeting in Islamabad on Monday to review the progress of these agreements, emphasizing the importance of the strategic partnership between Pakistan and Saudi Arabia. The session was part of the ongoing efforts under the Pakistan-Saudi Arabia Joint Task Force, which convened its second meeting in November. During the briefing, PM Sharif was informed…

 Pakistan’s inflation rate slowed to 4.9% in November – marking the lowest price rise since April 2018 –  according to the latest data from the Pakistan Bureau of Statistics (PBS). The figure is well within the central bank’s target range of 5-7%, offering a glimmer of relief to consumers after a prolonged period of high inflation. The consumer price index (CPI) reading for November represents a significant decline compared to 7.2% in October 2024 and a staggering 29.2% in the same month last year. While market expectations had anticipated a slight dip to 4.7%, the actual reading was marginally higher…

ISLAMABAD (ID NEWS) : The 350kW rooftop photovoltaic (PV) project at Super Modern Cold Store in Lahore, Pakistan, supplied by CHINT Solar, has been successfully commissioned at full capacity. This marks a significant milestone for CHINT Solar’s clean energy solutions in Pakistan, contributing to the country’s sustainable development goals while providing a reliable source of clean, efficient energy. According to project manager Muhammad Yousaf, once connected to the grid, the system is expected to generate approximately 498,225 kWh annually. This will save about 200 tons of standard coal and reduce carbon dioxide emissions by 497 tons each year, demonstrating substantial…

RAWALPINDI :A decision has been made to officially arrest former prime minister Imran Khan in four additional cases from September 28. Investigation teams have reached Adiala Jail to formally arrest Imran Khan. He will be presented in court today (Monday) after completion of his physical remand in the New Town police case. The investigation teams would proceed with his arrest in all four cases today. After the arrest, a request will be made to send him to jail on judicial remand. Earlier, An anti-terrorism court (ATC) in Rawalpindi granted a five-day physical remand of former prime minister and Pakistan Tehreek-e-Insaf…

 Vivek Ganapathy Ramaswamy –  Indian-American entrepreneur and a nominee for the incoming administration of US President-elect Donald Trump-  has sparked a heated debate over the lease of the Roosevelt Hotel, owned by Pakistan International Airlines (PIA), to New York City. In a statement that many have deemed politically charged and misleading, Ramaswamy claimed that New York taxpayers were effectively paying the Pakistani government $220 million to house illegal immigrants in the iconic hotel. The Roosevelt Hotel, a historical landmark in the heart of Manhattan, has been closed since October 2020 due to the COVID-19 pandemic’s devastating impact on the hospitality…

 In a bid to reduce the mounting pension burden, the federal government is reportedly considering a proposal to lower the retirement age for government employees by five years. In a move aimed at curbing the rapidly escalating pension expenditure, the government is considering lowering the average retirement age from 60 to 55 years. The proposal, reportedly suggested by the International Monetary Fund (IMF) is still under review with the federal authorities weighing its potential financial and legal implications. The primary objective behind this decision is to reduce the pension expenditure, which has surged to alarming levels in recent years. According…

ISLAMABAD (ID NEWS) : In a transformative initiative to provide young people with a safe and friendly community space, the United Nations Population Fund (UNFPA), Netherland, and the School of Leadership Foundation (SoLF) launched their first Adolescent and Youth Friendly Space (AYFS) in Quetta today. This launch marks a critical step in a four-year initiative titled Aghaaz, aimed at establishing AYFS in Islamabad Capital Territory (ICT), Peshawar, and Quetta to promote youth engagement and holistic development. The AYFS located in NUML Quetta initiative is designed to provide safe, inclusive environments for adolescents and young individuals to access essential resources, psychosocial…

ISLAMABAD (ID NEWS) : China Media Group (CMG) on Friday released the official theme and logo for its 2025 Spring Festival Gala, marking the start of the Year of the Snake on the Chinese lunar calendar, coming in late January 2025. The theme of this year’s gala is “Year of the Snake, Keep Your Spirits Awake” (“巳巳如意，生生不息”), inviting global Chinese communities to join in the New Year’s Eve celebration. The Chinese lunar calendar divides time into 60-year-long cycles and represents each year with 10 “Tiangan” characters and 12 “Dizhi” characters. For the Year of the Snake, which roughly fits the year 2025, the…

The Pakistan Stock Exchange (PSX) kicked off the new trading week on a strong note, with the benchmark KSE-100 Index crossing the 102,000 points threshold for the first time in recent history. As of the morning session, the index surged by 835 points, reaching a fresh high of 102,192 points, with an intraday peak of 102,288 points. This upward trajectory marks a continuation of the PSX’s recent bullish performance, following a positive end to the previous week when the index closed at 101,357 points. The market’s rally has been fueled by growing investor optimism, bolstered by improving macroeconomic conditions, falling…

Prime Minister Shehbaz Sharif on Monday approved the establishment of a 10-member Joint Task Force (JTF) aimed at identifying and prosecuting those responsible for spreading misinformation and inciting chaos following the recent protests in Islamabad. The formation of this task force comes in the wake of a series of violent protests organized by Pakistan Tehreek-e-Insaf (PTI) in November 2024, which led to clashes between PTI supporters and security forces, and significant damage to the national economy. The JTF will be headed by the Chairman of the Pakistan Telecommunication Authority (PTA) and will include key figures from Pakistan’s top intelligence and…