WASHINGTON: President Joe Biden declared the US banking system “safe” and vowed stiffer bank regulation, after US regulators were forced to step in with a series of emergency measures following the collapse of Silicon Valley Bank (SVB) and Signature Bank, threatening to trigger a broader crisis. “Americans can have confidence that the banking system is safe. Your deposits will be …

China will reopen its borders to foreign tourists for the first time in the three years since the Covid-19 pandemic erupted by allowing all categories of visas to be issued from Wednesday. The removal of this last cross-border control measure imposed to guard against Covid-19 comes after authorities last month declared victory over the virus. Tourist industry insiders do not …

China warned on Tuesday that Australia, Britain and the United States were treading a “path of error and danger” after they unveiled a nuclear-powered submarines deal. Australia announced on Monday it would buy up to five US nuclear-powered submarines, then build a new model with US and British technology under an ambitious plan to bulk up Western muscle across the …

Lahore jumped more than 10 places to become the city with the worst air in the world in 2022, according to an annual global survey by a Swiss maker of air purifiers. The report published on Tuesday by IQAir also said that Chad in central Africa had replaced Bangladesh as the country with the most polluted air last year. IQAir measures air …

LAHORE: The police on Monday told the Lahore High Court (LHC) that PTI chairman Imran Khan was being provided with adequate security as per the law. A report filed on behalf of the capital city police officer (CCPO) revealed that 123 policemen were currently deployed at the Zaman Park residence of the former prime minister. A law officer also filed …

KARACHI: The Sindh government on Monday increased the number of union committees (UCs) in Karachi by 53. There were already 246 UCs in Karachi and the number has now increased to 299. A notification to this effect was issued by the provincial local government. It said that the increase will apply to “future” local government elections. It may be noted …

LAHORE: Pakistan is a ‘hostage’ to the International Monetary Fund (IMF) and it is treating it like a colony, PML-N chief organiser Maryam Nawaz says. “The IMF is not ready to trust us. Pakistan is a hostage to the IMF and it is treating the country like a colony. Even if we try to come out of its clutches, we …

ISLAMABAD: Despite a strict austerity policy announced by Prime Minister Shahbaz Sharif last month, his cabinet colleagues and subordinate senior officers have given a hoot to the fiscal restraint measures. A meeting of the monitoring committee on implementation of austerity measures presided over by Finance Minister Ishaq Dar was informed that more than half of the luxury vehicles given to …

ISLAMABAD / LAHORE: The release of a list of Toshakhana beneficiaries since the year 2002 has raised various questions, including the under-assessment of the value of gifts and the unsaid policy of reciprocation, which officials say has yet to come under scrutiny. Data released by the government over the weekend showed that it wasn’t just PTI chief Imran Khan who benefitted from …

Khyber Pakhtunkhwa Governor Haji Ghulam Ali on Tuesday suggested May 28 as the election date in the province to the Election Commission of Pakistan (ECP). Speaking to reporters after a meeting with Chief Election Commissioner Sikandar Sultan Raja, the KP governor said “my work is to give the date for the elections in the province but conducting the polls falls …