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  • IMF to continue talks on Pakistan’s economic reform goals

    IMF to continue talks on Pakistan’s economic reform goals

    The International Monetary Fund (IMF) remains engaged in discussions with Pakistan on policy goals and actions to establish a medium-term, home-grown reform programme that could be supported under the Extended Fund Facility (EFF) arrangement.

    Julie Kozack, Director of the Communications Department at the IMF, highlighted this in a recent press briefing. She emphasised that the reform programme under consideration aims to enhance economic credibility through the consistent application of sound policies.

    The objective is to transition Pakistan from economic stabilisation to robust, inclusive, and resilient growth, ultimately improving the living standards of the Pakistani people.

    The IMF also noted significant progress towards a staff-level agreement with Pakistan.

    Addressing a query about the recent mission to Pakistan, Kozack stated, “Since our mission to Pakistan from May 13 to May 23, our staff has visited Islamabad. We will continue to discuss policy goals and actions that could form the basis of a medium-term, home-grown reform programme for Pakistan that could be supported under the EFF arrangement with the IMF.”

    Regarding the prior actions and the 2024-25 budget, she mentioned that discussions between the IMF team and Pakistani authorities are ongoing and that further information would be communicated in due course.

    Kozack further elaborated on the 2023 Stand-by Arrangement (SBA) for Pakistan, explaining that its goal is to return to stability and to maintain, broaden, and extend this stability to establish a foundation for sustainable growth.

  • PTI suspends Sher Afzal Marwat’s party membership

    PTI suspends Sher Afzal Marwat’s party membership

    Sher Afzal Marwat’s party membership has been suspended by the Pakistan Tehreek-e-Insaf (PTI).

    Marwat, who was elected as a Member of the National Assembly (MNA) in the February 8 elections, had his membership suspended according to a report by ARY News on Friday.

    PTI’s senior leadership met with incarcerated former Prime Minister Imran Khan on Thursday and decided on Sher Afzal Marwat’s status within the party.

    The cancellation of Marwat’s membership was confirmed by the party’s top leadership, citing multiple violations of party discipline.

    “It was concluded in the meeting with Imran Khan that no leader is above the party, and similar consequences await any leader who crosses the party line,” stated the party’s leadership.

    Previously, a show-cause notice had been issued to Marwat by PTI for his reckless statements. The notice was issued by the party’s Secretary General, Omar Ayub, who directed Marwat to respond within three days.

    Sher Afzal Marwat was also informed about potential further disciplinary actions in case he failed to submit a response.

  • Billionaire bash: India’s lavish Ambani nuptials

    Billionaire bash: India’s lavish Ambani nuptials

    Billionaire Indian tycoon Mukesh Ambani celebrates the lavish finale of his son’s wedding this week, highlighting his staggering wealth, as well as India’s rapid economic growth and stark financial inequalities.

    Ambani’s younger son Anant and fiancee Radhika Merchant, both 29, are set to marry in a three-day Hindu ceremony in India’s financial capital Mumbai starting Friday.

    Asia’s richest man is no stranger to throwing a costly wedding.

    He held the most expensive wedding in India to date for his daughter in 2018, which reportedly cost up to $100 million and saw US singer Beyonce perform.

    This week’s opulent celebrations are set to raise the bar, with celebrities, politicians and business elite jetting into the monsoon-hit megacity of Mumbai.

    Pre-wedding parties for his son included multi-day galas, a European cruise for 1,200 guests, a specially built Hindu temple and entertainment provided by pop stars ranging from Rihanna to Justin Bieber.

    – Power –

    Ambani, 67, the chairman of Reliance Industries, has a fortune of more than $123 billion, and is the 11th wealthiest person in the world, according to the Forbes billionaires list.

    He is a key ally of India’s right-wing Hindu nationalist leader, Prime Minister Narendra Modi.

    Ambani inherited a thriving industrial enterprise spanning oil, gas and petrochemicals.

    He grew it into a commercial behemoth with lucrative interests in retail, telecommunications and an Indian Premier League cricket team.

    Ambani’s family home Antilia is one of Mumbai’s most prominent landmarks. The 27-floor building reportedly cost more than $1 billion to erect and has a permanent staff of 600 servants.

    Merchant is the daughter of pharmaceutical moguls.

    – Cruise and zoo –

    Wedding celebrations began in March with a three-day gala for 1,500-plus guests in Gujarat state.

    Rihanna performed her first concert since last year’s Super Bowl for wedding guests including Facebook founder Mark Zuckerberg and ex-US president Donald Trump’s daughter Ivanka.

    David Blaine did magic tricks.

    Festivities also involved a trip to the Ambani’s “animal rescue centre” housing exotic animals, and a specially built Hindu temple complex.

    A second leg in June was a four-day Mediterranean cruise with 1,200 guests, Merchant told Vogue.

    Singer Katy Perry performed at a masquerade ball at a French chateau in Cannes, while the Backstreet Boys and US rapper Pitbull also provided entertainment.

    DJ David Guetta played at a toga party at sea.

    The cruise ended in Italy’s Portofino, where tenor Andrea Bocelli serenaded the party in the town square.

    – Gowns –

    The wedding invitation was an intricate chest incorporating a mini silver temple.

    Merchant’s multiple dresses have been as elaborate.

    They have included custom designs from Versace, Dolce & Gabbana, and a vintage Yves Saint Laurent for Dior, she told Vogue.

    Another was a sweeping chiffon dress printed with a love letter from her fiancee, the magazine reported.

    “I want to be able to show it to my kids and grandkids, and say that ‘this is what our love was’”, Merchant said.

    – Poverty –

    India is the fastest-growing major economy, and the world’s fifth largest.

    But despite massive advances, the world’s most populous country has a jobs crisis to match.

    National per capita income is just $1,174, according to government data.

    India was ranked 111 of 125 countries in the Global Hunger Index report last year, a peer-reviewed measure calculated by European aid agencies.

    One percent of India’s 1.4 billion people earn more than a fifth of its wealth, according to the World Inequality Lab, an income share “among the very highest” in the world — greater than South Africa, Brazil or the United States.

    Perhaps to preempt criticism, Ambani provided a feast for 50,000 people in his hometown of Jamnagar in Gujarat during the first round of parties.

    Ambani also organised a mass wedding for 52 “underprivileged” couples near Mumbai, promising to support “hundreds more such weddings” across India.

  • Boom boom grand baby: Shaheen Afridi expecting first child

    Fast bowler of the national cricket team, Shaheen Shah Afridi, is going to be a father very soon.

    Jason Gillespie, the head coach of the red ball format of the Pakistan team, delivered the happy news, saying, “The birth of a child is expected at Shaheen Shah Afridi’s house in the next few days, so he wants to spend time with his wife.”

    The fast bowler might be dropped from the series against Bangladesh so he can spend time with his family.

    The Bangladesh cricket team will come to Pakistan in the third week of August for two Test matches, which are part of the World Test Championship.

  • Sahibzada Farhan appointes captain of Pakistan Shaheens

    Sahibzada Farhan appointes captain of Pakistan Shaheens

    Sahibzada Farhan has been named the captain of Pakistan Shaheens, who will lead the four-day series against Bangladesh A in Darwin, Australia.

    Two matches will be played in the four-day series; one change has been made in the 15-member squad: fast bowler Haneen Shah is out of the series due to injury, and Qasim Akram Pakistan Shaheens has replaced him.

    Captain Sahibzada Farhan will address the press conference at the National Stadium today; Pakistan Shaheens will now leave for their destination on Saturday morning instead of Sunday. Thus, the camp will end on Friday at the Hanif Muhammad Regional High-Performance Center of the National Stadium.

    Pakistan Red Ball Head Coach Jason Gillespie will also join the team in Darwin. Jason Gillespie will return to Pakistan in the first week of August after the second four-day match.

    Pakistan Shaheens Squad

    Sahibzada Farhan (captain), Haseebullah, Qasim Akram, Muhammad Irfan Khan, Muhammad Ali, Kamran Ghulam, Kashif Ali, Khurram Shahzad, Mehran Mumtaz, Muhammad Harira, Mubasar Khan, Umeer bin Yousuf, Shahnawaz Dhani, Tayyab Tahir and Umar Amin.

  • ‘Crying to Allah is a billion times better’: Sania Mirza shares spiritual note after Hajj

    ‘Crying to Allah is a billion times better’: Sania Mirza shares spiritual note after Hajj

    Tennis star Sania Mirza has found a new source of strength in her faith after completing the sacred Hajj pilgrimage. She shared a heartfelt note on her Instagram story, revealing that praying to Allah brings her more comfort than confiding in people.
    She posted a story with the caption, “Crying on prayer mat in front of Allah is billion times better than crying in front of a human.”
    This post came after Mirza completed the Hajj pilgrimage with her family. She went on this significant journey with her father, Imran Mirza, sister Anam, and brother-in-law, cricketer Mohammed Asaduddin.
     
    Last month, Mirza announced on Instagram that she expressed gratitude for the opportunity to embark on the journey. “I have been blessed with the incredible opportunity to embark on the sacred journey of Hajj.”
    Sania is the former wife of Pakistani cricketer Shoaib Malik and the couple also have a son, Izhan Mirza Malik, who lives with his mother.

    Mirza’s father confirmed his daughter’s divorce from Shoaib Malik earlier this year and later, Shoaib Malik tied the knot with Pakistani actress Sana Javed.

  • South Korea names K-pop group NewJeans tourism ambassadors

    South Korea names K-pop group NewJeans tourism ambassadors

    South Korea on Thursday appointed K-pop girl band NewJeans “honorary ambassadors” as part of a drive to promote tourism, joining a long list of Korean celebrities to take up the role.

    South Korea has seen tourism figures recover to nearly pre-pandemic levels this year, with around a third of visitors citing K-pop or K-drama — the so-called “Hallyu” or Korean wave — as a major motive for travelling to the East Asian country.

    “We are very happy to be appointed as an ambassador to promote South Korean tourism today,” band member Minji said, adding it would be a “great joy” for the supergroup to promote their country’s charms.

    Tourist arrivals are at “about 90 percent of pre-pandemic levels,” said culture minister Yu In-chon.

    “With NewJeans as tourism ambassadors, I expect even more people from all over the world to visit Korea,” he added.

    The group will serve as ambassadors with no actual diplomatic responsibilities for a year, succeeding previous representatives such as “Squid Game” star and Emmy-winner Lee Jung-jae and K-pop megastars BTS.

    Members of the band shared their personal recommendations for visitors, including eating “gimbap dipped in tteokbokki sauce” and taking “a photo a day”, which is an “unspoken rule among young Korean generations”.

    Haerin said she recommended tourists to visit a hanok — or traditional Korean house — while Hanni urged visitors to embrace Korean cuisine.

    “You have to eat Korean food when you come to Korea, and since it’s summer and the weather is hot, if you eat food like samgyetang (ginseng chicken soup) or mul-naengmyeon (cold buckwheat noodles), you’ll be able to enjoy it a lot,” she said.

    More than 11 million tourists visited South Korea last year, a 245 percent increase compared to 2022, when some pandemic restrictions were still in force.

    Chinese and Japanese tourists made up the majority of the visitors.

    NewJeans recently held their first fan meet at the Tokyo Dome, less than two years after their debut — the fastest Tokyo Dome debut for any foreign artist. Tickets were sold out in minutes.

    The group’s Japanese debut single “Supernatural” sold over a million copies as of Thursday, marking their fifth million-seller.

  • Gold price increases by Rs1,200 to Rs246,800 per tola

    Gold price increases by Rs1,200 to Rs246,800 per tola

    On Thursday, gold prices in Pakistan saw a notable increase, reflecting global market dynamics. According to the Karachi Sarafa Association, 24-karat gold was priced at Rs246,800 per tola, marking a Rs1,200 rise per tola.

    Notably, despite this uptick, the price remains Rs2,500 below its actual cost due to prevailing economic conditions impacting purchasing power.

    For 10-gramme quantities, the price of 24-karat gold stood at Rs211,591, up by Rs1,029 per tola. Meanwhile, 22-karat gold was quoted higher at Rs193,959 per 10 grammes.

    In contrast, silver prices remained steady within the domestic market. The price of 24-karat silver was reported at Rs2,900 per tola and Rs2,486 per 10 grammes.

    Internationally, spot gold prices near $2,382 per ounce showed a modest increase of $9.6 or 0.41 per cent from the previous session.

    This latest movement in precious metal prices underscores both local economic factors influencing consumer buying power and broader global trends impacting commodity markets.

  • Mawra Hocane says goodbye to ‘Let’s Try Mohabbat’ in emotional Instagram post

    Mawra Hocane says goodbye to ‘Let’s Try Mohabbat’ in emotional Instagram post

    Mawra Hocane recently took to Instagram to say goodbye to her popular rom-com sitcom, Let’s Try Mohabbat. She shared a delightful series of behind-the-scenes moments for her fans.

    “A little late but here’s the #LTM dump you’ve all been asking for… thank you for giving Fizza so much love!” Mawra wrote, filled with gratitude. She added, “I loved experimenting with this over-the-top character & your love has solidified my confidence to keep attempting different characters.”
    “She was crazy and I loved being a bit of crazy with her. Girls like Fizza who add light to everyone’s life deserve all the happiness in the world and the happy ending she got!” Mawra continued.

    Among the photos in her post, fans found candid snaps and on-set moments. One heartwarming black-and-white photo captured Mawra’s infectious smile, while another showed her gazing dreamily into the eyes of her co-star, Daniyal Zafar.

    A candid shot featuring Gohar Rasheed and other cast members added to the nostalgic vibes. To top it off, a brief clip showed Mawra in action, including a snapshot of the shooting equipment, giving fans a peek behind the scenes.

  • Hasan Raheem clarifies context behind viral shopkeeper assault video

    Hasan Raheem clarifies context behind viral shopkeeper assault video

    A video of a group of girls aggressively beating a shopkeeper has gone viral on social media, leading many celebrities and citizens to call for their arrest. Today, singer Hasan Raheem released a statement on Instagram, offering background information and clarifying that the women in the video were the victims, not the perpetrators.

    “Salam everyone. I would like to clarify a few things from the last video. Some facts have come up after we got accounts from the people who were present there,” Hasan began.

    He urged people to be cautious before reacting without context. “It’s very easy to blame someone without understanding the full context. These girls are getting death threats from random people and we need to make sure this situation doesn’t escalate from here,” he added.

    Hasan explained that the shopkeeper had been making lewd remarks towards the women, which led to the altercation. “These girls are not the daughters of a lawyer, and this has been confirmed by multiple sources. The shopkeeper referred to them as prostitutes on night duty. You can see him smirking in the video after remarking,” Hasan shared.

    He continued, “When the girls questioned him, he retaliated and abused them. The girls shouldn’t have raised their hands on him; they should have called the police. The person speaking in the video has also apologized for not telling the full truth.”

    In a second post, Hasan expressed concern about people quickly jumping to conclusions without understanding the full story. “It is so easy to jump on the bandwagon and begin slandering someone,” he said.

    “It was not right for them to get physical, but there is a limit to how long one can stay silent in such a situation,” Hasan added. “Women in this country are very aware of their security issues. Learn to take care of your mothers and sisters so they won’t have to take matters into their own hands next time.”