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It was just another long and languorous summer afternoon for Chirag Patel at his mobile phone retail shop near Ahmedabad’s airport on the outskirts of the western city when he was greeted by a shocking sight in the sky – a massive Air India plane was plunging towards a building.“We are used to seeing planes taking off or landing at the airport, but I was horrified to see one heading right at us. The plane’s tail struck a building that houses a student hostel and got stuck. The front portion broke and, after falling down, skidded for a few metres…

Sindh Chief Minister Syed Murad Ali Shah, while unveiling the annual budget in the assembly, presented the Annual Development Programme (ADP) for the fiscal year 2025-26 with a total outlay of Rs1.02 trillion. The provincial ADP is set at Rs520 billion, complemented by district ADP, foreign project assistance (FPA), and federal PSDP grants. “This ambitious development plan focuses on rehabilitation, infrastructure, social services, and sustainable growth across the province,” the CM House said in a statement. Highlights of ADP 2025-26 Provincial ADP: Rs520 billion District ADP: Rs55 billion Foreign Project Assistance: Rs366.72 billion Federal PSDP: Rs76.28 billion The ADP and…

Sindh Chief Minister Syed Murad Ali Shah presented the provincial budget for the fiscal year 2025-26 on Friday. The budget size for FY26 is set at Rs3.45 trillion, representing a 12.9% increase compared to the estimated Rs3.05 trillion for the previous year (2024-25). “This budget will play a key role in unleashing Sindh’s untapped potential,” Murad Ali Shah said. “It prioritises inclusive, sustainable, and robust development.” Key highlights of Pakistan budget for 2025-26 The chief minister expressed commitment to social improvement, modernisation of infrastructure, and economic independence. The provincial government allocated Rs1.02 trillion for development in FY26. Salaries and pensions…

The Hong Kong government plans to permit more businesses to test higher-capacity aerial vehicles, aiming to boost the low-altitude economy and assess their impact on logistics efficiency and traffic, Deputy Financial Secretary Michael Wong Wai-lun said.Speaking to more than 100 government officials, company executives, venture capitalists and researchers at the International Automotive & Supply Chain Expo on Friday, he said losses were possible even though these drones are expected to create a global market worth several billion dollars in the next few years.“Amendments to local laws and regulations to promote the development of the low-altitude economy are in the works,”…

The Hong Kong government plans to permit more businesses to test higher-capacity aerial vehicles, aiming to boost the low-altitude economy and assess their impact on logistics efficiency and traffic, Deputy Financial Secretary Michael Wong Wai-lun said.Speaking to more than 100 government officials, company executives, venture capitalists and researchers at the International Automotive & Supply Chain Expo on Friday, he said losses were possible even though these drones are expected to create a global market worth several billion dollars in the next few years.“Amendments to local laws and regulations to promote the development of the low-altitude economy are in the works,”…

China appears on the verge of carrying out a historic satellite-to-satellite refuelling mission in high orbit, a potential advance that has prompted the US to deploy two military surveillance satellites nearby to watch.The Shijian-25 satellite was launched this year to test on-orbit refuelling and mission-extension technologies, and has been drifting towards Shijian-21. The two satellites have nearly synchronised orbits and are primed for rendezvous and docking, according to public tracking data from the US military’s Space-Track.org website.Shijian-25 is expected to use its robotic arms to latch onto Shijian-21 and replenish its fuel. The latter used up much of its propellant…

AstraZeneca has signed an AI-led research agreement with China’s CSPC Pharmaceutical Group worth up to $5.3 billion, which would help the Anglo-Swedish drugmaker develop therapies for chronic conditions, it said on Friday. The deal marks the latest effort by AstraZeneca to revive its business in China, its second-biggest market, where it has faced several challenges including the arrest of its China president last year and potential fines related to imports. Under Friday’s agreement, the two companies will collaborate to discover and develop pre-clinical candidates, including a small molecule oral therapy for immunological diseases, with CSPC conducting AI-driven research in Shijiazhuang…

The yen rallied on Friday against a basket of major rivals, extending the gains for the third straight session against the dollar and hitting a week on haven demand after Israel launched air strikes against Iran.   The Bank of Japan is convening next week to discuss latest economic policies, with a less than 50% chance of a 0.25% rate hike.   The Price   The USD/JPY price fell 0.5% today to 142.79 yen per dollar, a week low, with a session-high at 143.52.   The yen rose 0.75% on Thursday against the dollar, marking the second profit in a…

The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) is expected to hold the key policy rate at 11% in its upcoming meeting scheduled for Monday, market analysts noted. “While domestic macroeconomic indicators have improved significantly, particularly inflation and the external account, we believe, the central bank is likely to adopt a wait-and-see approach in light of emerging global risks and domestic policy adjustments,” Arif Habib Limited (AHL) said in its report. The MPC of the central bank will meet on June 16 to decide on the policy rate, the central bank announced on Thursday. The SBP…

A senior Philippine military official has revealed a soon-to-be-deployed strategy that would involve an army contingent to support law enforcement units on occupied islands in the South China Sea.Observers said the strategy would align with Manila’s policy shift from an internal to external defence posture aimed at protecting the country’s territorial waters. One expert, however, warned that it could lead to more aggressive moves by the Chinese navy and coastguard if Beijing were to view Manila’s plan as an escalation.The Philippine army’s chief, Lieutenant General Roy Galido, on Tuesday told reporters that his troops were now capable of rapid deployment…