Pakistan

In emerging situation, challenge for govt is to jump-start economy, create jobs

Global movement seeks just, sustainable financial solutions for developing nations

Short-term relief risks long-term economic and strategic benefits

Pet traders face uncertainty as the government orders relocation without providing an alternative site for business

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Eight killed, 27 injured across Punjab

Lando Norris won the Austrian Grand Prix from pole position in a McLaren one-two on Sunday after fending off championship-leading team mate Oscar Piastri in an early wheel-to-wheel duel and then withstanding intense pressure to the end. The Briton’s third victory of the season cut Australian Piastri’s Formula One lead from 22 to 15 points after 11 of 24 rounds, with the two McLaren drivers locked in an increasingly private title battle. Charles Leclerc completed the podium for Ferrari with teammate Lewis Hamilton fourth and George Russell, last year’s winner in Austria, fifth for Mercedes. Red Bull’s four-time world champion Max Verstappen suffered his first retirement of the season, in his team’s home race, after a first-lap collision with Mercedes’s Italian rookie Kimi Antonelli. The Dutch driver stayed third overall but is now 61 points behind Piastri in the championship standings. “Tricky, hot, tiring,” said Norris after stepping out of the car at the finish of the 70-lap race on a sweltering Sunday. “A l...

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Outsourced facilities in merged districts face closure as unpaid dues stall salaries and operations

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No big development push, rising tax burden — little relief in sight

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US President Donald Trump said in a Fox News interview aired on Sunday that he found a buyer for the TikTok social media app, which he described as a group of “very wealthy people” whose identities he will reveal in about two weeks. Trump made the remarks in an interview on Fox News programme ‘Sunday Morning Futures with Maria Bartiromo’ and said that the deal he is developing would probably need China’s approval to move forward, predicting that Chinese President Xi Jinping would likely approve it. The US president earlier this month extended a deadline for China-based ByteDance to divest the US assets of TikTok to September 17, despite a law that mandated a sale or shutdown without significant progress. A deal had been in the works this spring that would have spun off TikTok’s US operations into a new US-based firm — majority-owned and operated by US investors — but it was put on hold after China indicated it would not approve it following Trump’s announcements of steep tariffs on Chinese goods. “We have a b...

Operations at Bangladesh’s biggest port were suspended on Sunday as a strike by customs officials brought shipping activity to a halt. The shutdown at Chittagong Port is part of an ongoing dispute between tax authority employees and the government, which is trying to overhaul the body. “The port typically handles around 7,000 to 8,000 containers daily … But since this morning, there has been no movement in offloading or onboarding of goods,” said Mohammed Omar Faruq, secretary of the Chittagong Port Authority. “This is having a huge impact on the country’s economic situation,” he told AFP. Bangladesh is the world’s second-largest garment manufacturer, while textile and garment production accounts for about 80 per cent of the country’s exports. Mahmud Hasan Khan, president of the Bangladesh Garment Manufacturers and Exporters Association, said the halt in port operations would cost the industry $222 million. “The cost of recovery will be staggering — beyond comprehension — and many factories risk going bankrup...