Year: 2024

Federal Reserve lowers interest rates but signals fewer cuts by 2025

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The US Federal Reserve reduced interest rates on Wednesday, with Chair Jerome Powell stating that further reductions will depend on progress in curbing persistently high inflation.  Powell’s explicit – and repeated – references to the need for caution from here jolted Wall Street, sending stocks sharply lower and spurring a dialing back of market estimates of how far borrowing costs are likely to fall over the coming year. “I think we’re in a good place, but I think from here it’s a new phase and we’re going to be cautious…

Gwadar airport Set for Dec 30 inauguration

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KARACHI: The New Gwadar International Airport is set to be inaugurated on December 30, sources told Geo News, marking a significant milestone in the region’s infrastructure development. The decision was taken on the directives of Prime Minister Shehbaz Sharif, the sources said. The national carrier, Pakistan International Airlines (PIA), will operate the airport’s first commercial flight, marking a significant milestone in regional connectivity. Final preparations are underway, with a recent five-hour meeting between PIA and the Airports Authority finalising key operational matters. The sources revealed that PIA will deploy staff and…

Two cops embrace martyrdom in Shangla grenade attack

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SHANGLA: Terrorists carried out a grenade attack on a police checkpoint in Chakesar, District Shangla, Khyber Pakhtunkhwa, resulting in the martyrdom of two policemen and injuries to three others, Geo News reported on Tuesday. According to the police, martyred cops were identifies as assistant sub-inspector Hassan Khan and constable Nisar Khan, while, Muharrar Arshad Khan, Constable Arshad Khan, and Constable Rifat are wounded. The injured cops have been transferred to a hospital in Battagram for treatment, the police added. Terrorist attacks have been rampant in the provinces of KP and Balochistan, targetting…

‘We can block VPNs but we won’t do it’, says PTA chairman

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Pakistan Telecommunication Authority (PTA) will not block the virtual private networks (VPNs) despite having the capability to do so, the telecom regulator chief said on Monday. Addressing a launching ceremony of the PTA annual report 2024, its chairman Maj Gen (retd) Hafeez Ur Rehman said: “We had said earlier that we can block VPNs but we won’t do it.” Earlier, the regularity authority decided against blocking VPNs as the government extended the deadline for registering proxies beyond November 30. However, a new date has not been announced for the VPN…

Some wounds never heal: Survivors, families recall APS tragedy

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Even after passage of 10 years, the horror of the Army Public School (APS) Peshawar terrorist attack is still ingrained in the memory of survivors and the relatives of the dead. Six terrorists assaulted the APS on December 16, 2014, killing about 150 innocent students and teachers. The first-hand witnesses and their families are still suffering from the fear of that atrocity. Some have used it as motivation to work harder in life, while others are still having trouble recovering fully from it. The story of Ahmed Khattak, who survived…

South Africa claim 2-0 series win against Pakistan after rain abandons 3rd T20I

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The final T20I of the three-match series between Pakistan and South Africa has been called off due to rain without a ball being bowled or a toss conducted due to heavy downpour at the Wanderers Stadium on Saturday.  South Africa wins the series after it defeated Pakistan in the first two T20Is of the series.  The Proteas had defeated the Green Shirts by 11 runs in the first T20I at the Kingsmead Stadium as the latter could only score 172 runs in their 20 overs at the loss of eight…

ABC News settles $15m defamation suit with Donald Trump

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ABC News will pay a $15 million settlement payment to resolve a defamation lawsuit brought by United States President-elect Donald Trump, according to court documents filed Saturday. The lawsuit stemmed from on-air comments made by top anchor George Stephanopoulos, who said Trump was found “liable for rape” during an interview with US Representative Nancy Mace that aired in March. The terms of the settlement require ABC News to make a $15 million donation to a fund dedicated to “a presidential foundation and museum” for Trump. The news organisation and Stephanopoulos will also issue…

Armed protests hallmark of PTI, says Attaullah Tarar

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Federal Minister for Information and Broadcasting Attaullah Tarar has slammed Pakistan Tehreek-e-Insaf (PTI) for having a history of violent tactics as he strongly criticised Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur’s warning of taking to streets with arms. “Armed protests involving illegal Afghan immigrants are a hallmark of PTI,” the minister said, adding that the PTI had marched on the federal capital with armed groups previously as well.  The minister’s condemnation comes hours after the firebrand KP CM called on PTI founder Imran Khan to cease advocating for peace, while warning the…