The State Bank of Pakistan (SBP) maintained its policy rate steady at 11 per cent on Monday for a third straight meeting as policymakers weighed inflation risks from flood-hit crops against a fragile economic recovery. After slashing the interest rate by 1,000 basis points (bps) from 22pc since June 2024 in seven intervals, the central bank has maintained it at 11pc since May. However, the business community had expressed disappointment over the decision. “The Monetary Policy Committee (MPC) decided to keep the policy rate unchanged at 11 per cent in its meeting today,” an SBP statement said. The MPC noted that inflation remained “relatively moderate in both July and August, whereas core inflation continued to decline at a slower pace”. “Economic activity — as captured by high-frequency economic indicators, including large-scale manufacturing (LSM) — gained further momentum. However, the near-term macroeconomic outlook has deteriorated slightly in the wake of the ongoing floods,” the committee noted. It cauti...
India romped to a comprehensive seven-wicket victory in their high-intensity encounter against Pakistan in the men’s Asia Cup 2025 in Dubai on Sunday. The match had been coloured from the start by calls from across the border to ‘boycott’ the fixture. It seems the pressure got to the players as well, with the Indian team refusing to shake hands, as is customary, at the toss and after the match. Then, at the post-match ceremony, Indian captain Suryakumar Yadav seemingly ‘politicised’ the victory by bringing up the Pahalgham terrorist attack in India-occupied Kashmir, over which the two countries fought a four-day military conflict in May, saying the victory was “a perfect gift” for his country. “We stand with the victim’s families of the Pahalgam terror attack, and we express our solidarity, and we want to dedicate today’s win to the armed forces,” the Indian skipper said. Speaking at the post-match press conference, Yadav said: “Our government and the BCCI were aligned. We took a call and came here just to pl...
Another Pakistan-India match, the gulf of quality between the two sides glaring yet again, and brighter than ever. Fair to say Pakistan are a young side undergoing transition under a new captain and a newer team management, but there were enough instances throughout the fixture that highlighted a bigger problem: big-match nerves. One of those few instances was Shaheen Shah Afridi’s late onslaught of 33 off 16, which included four clean hits for sixes. He and Sufiyan Muqeem added 43 off 22 balls — a strike-rate of 195-plus — to drag Pakistan to 127-9 when it looked like the team wouldn’t even get into three figures. If tailenders can do that, why not the specialist batters? India’s Suryakumar Yadav plays a shot during the Asia Cup 2025 T20 International cricket match against Pakistan at the Dubai International Stadium in Dubai, the UAE. — Reuters To put it simply, the pressure of the big occasion got the better of them before India, obviously a well-oiled T20 machine, faced no challenge whatsoever during the c...
President Asif Ali Zardari reaffirmed on Sunday that Pakistan and China would continue to expand collaboration in defence production and aviation, further deepening their all-weather strategic cooperative partnership, according to a statement issued by the President’s Secretariat. Zardari, who is on a 10-day trip to China, asserted this during a visit to the the Aviation Industry Corporation of China (AVIC) — the country’s aerospace and defence conglomerate engaged in the design and production of a wide range of military and civilian aircraft, including J-10C fighter jets that Pakistan employed during an escalation with India in May. The use of these aircraft is said to have played a crucial role in shooting down India’s fighter jets, including Rafales, during the four-day escalation that ended with a ceasefire on May 10. The statement by the President’s Secretariat today said: “On the 128th day since the ceasefire with India, President Asif Ali Zardari, constitutionally the supreme commander of the armed for...
Some Indian politicians and former cricketers have called on their country to boycott its matches with Pakistan in the ongoing Asia Cup tournament, as the two arch-rival teams are set to face each other in Dubai today. An India-Pakistan cricket match is always a blockbuster. Still, emotions will run even higher in today’s Asia Cup clash between the nuclear-armed neighbours, who fought a four-day military conflict in May. The countries have been at odds in various matters since then, including claims of downing jets, ceasefire requests, geopolitical narratives and of course, cricket. Several former Indian players and politicians have urged the BCCI to boycott what will be the first meeting between the teams since the recent hostilities. New Delhi only cleared the match in a recently announced sports policy, saying the Indian national team can play Pakistan in multi-national events but not in bilateral competitions. Former Maharashtra chief minister Uddhav Thackeray, head of the Shiv Sena-UBT party, has announc...
A Pakistan-India cricket match is always a blockbuster, but emotions will run even higher in Sunday’s Asia Cup clash between the nuclear-armed neighbours, who engaged in a four-day military conflict earlier this year. Even before the clashes in May, which nearly escalated into a full-blown war, bilateral cricket ties were suspended. The arch-rivals now play each other only in multi-team tournaments. Political relations have deteriorated further since the clashes, with several former Indian players urging the Board of Control for Cricket in India (BCCI) to boycott what will be the first meeting between the teams since the recent hostilities. While the threat of a boycott is over, sparks may fly with Pakistan captain Salman Ali Agha and his Indian counterpart Suryakumar Yadav ruling out dialling down aggression in the much-anticipated Group A fixture. While reigning T20 world champions India are the firm favourites to retain their title, Pakistan are on a high, having convincingly beaten Afghanistan to win the ...