NEW YORK: Moody’s Investors Service on Tuesday revised its outlook on the US banking system to “negative” from “stable”, citing heightened risks for the sector after the rapid unraveling of SVB Financial Group fuelled fears of contagion. Bank runs at Silicon Valley Bank, Silvergate Capital Corp and Signature Bank have deteriorated the operating environment for the sector that is now …

WASHINGTON: Ned Price, who explained US foreign policies to the world at the State Department’s daily news briefings, will step down next week for a new, policy-focused job in the same department. Mr Price, the department’s spokesman since the first day of the Biden administration, will now work directly for US Secretary of State Antony Blinken. “This will be my …

BAGHDAD: Iraqi journalist Muntazer al-Zaidi gained fame for hurling his shoes at President George W. Bush in a news conference to show his anger at the corruption and chaos that followed the US-led invasion of Iraq in 2003. He is still furious. “The same people who entered 20 years ago with the occupier are still ruling despite failures and corruption. …

WASHINGTON: A U.S military MQ-9 surveillance drone crashed into the Black Sea on Tuesday after being ‘‘intercepted by Russian fighter jets’’, in the first such incident since Russia’s invasion of Ukraine over a year ago. The Pentagon alleged that one of the Russian Su-27 jets struck the propeller of the drone, making it inoperable, while Russia’s defence ministry blamed “sharp …

MOSCOW: President Vladimir Putin said on Tuesday that what was at stake in Ukraine was Russia’s very existence as a state. Speaking at length to workers at an aviation factory in Buryatia, Putin expanded on his familiar argument that the West was bent on pulling Russia apart. “So for us this is not a geopolitical task, but a task of …

premier Imran Khan’s residence, the Lahore High Court (LHC) on Wednesday stopped the police operation at Zaman Park till 10am tomorrow (March 16) while the Islamabad High Court (IHC) disposed of a plea seeking the cancellation of the PTI chief’s arrest warrants. The situation at Zaman Park was peaceful even as droves of PTI workers remained outside Imran’s residence. Dawn.com’s correspondent at …

ISLAMABAD: Chief Justice of Pakistan (CJP) Umar Ata Bandial on Tuesday regretted that lack of access to justice breeds corruption in society but appreciated the proposed amendments to the National Account­abi­lity Ordinance (NAO), designed to address major concerns regarding fate of references taken out of the ambit of the accountability law due to the pecuniary value less than Rs500 million. …

ISLAMABAD: Law Minister Azam Nazir Tarar has said that the government is seriously considering to amend the election laws for ensuring transparent polls in the country. “We are seriously thinking and carefully examining that at least those amendments should be included which already have the consensus,” said the minister while addressing a stakeholder’s conference on “Electoral Transparency” jointly hosted by …

ISLAMABAD: The Supreme Court on Tuesday sought written arguments explaining how the parties interpret harassment at workplace, observing that the court may hear the matter in detail if it was convinced that the definition needed further elaboration. Presided over by Justice Yahya Afridi, a three-judge Supreme Court bench consisting of Justice Mohammad Ali Mazhar and Justice Ayesha A. Malik asked …

ISLAMABAD: A Senate panel has urged the need to revamp the education system in less developed areas to help their residents compete in the Central Superior Services (CSS) exams, which candidates must clear to qualify for the civil service. The Senate standing committee on cabinet secretariat on Tuesday received a detailed briefing on the Special Central Superior Services Examination, 2023, …