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ISLAMABAD: Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb said Wednesday that Pakistan’s reform momentum and economic liberalisation could set the stage for an “East Asia moment”— a period of dynamic, export-driven expansion inspired by the experience of high-growth Asian economies such as Singapore. In an interview with CNBC, the minister, who is currently in Washington DC to attend the 2025 World Bank Group-IMF Annual Meetings, discussed Pakistan’s ongoing IMF engagement and the country’s emerging export-led growth strategy. He underlined the steady progress Pakistan has made toward macroeconomic stability over the past year, emphasising improvements across key indicators including…

ISLAMABAD: The federal government has announced a major cut in the prices of petroleum products, offering significant financial relief starting from October 16, 2025. The fortnightly review saw the largest decrease in petrol, which fall by Rs 5.66 per litre. High Speed Diesel (HSD), a key fuel for transport and agriculture, has seen its price lowered by Rs 1.39 per litre. Meanwhile, the rate for kerosene oil has been reduced by Rs 3.26 per litre, and Light Diesel Oil (LDO) is down by Rs 2.74 per litre. Sources attribute the positive change, in part, to a drop in the cost…

DNIPRO, Ukraine (AP) — Across eastern Ukraine, shelters and transit hubs reflect the human toll of a war now in its fourth year. Over 4.5 million people are officially registered as internally displaced, many arriving with little more than a bag. Shared by six or more, these temporary spaces – often drafty disused dorms, tents and abandoned basements — are quickly transformed into crowded shelters. Volunteers set up field kitchens and hang curtains made out of old sheets for privacy. With every evacuee comes a quiet reckoning. Families who once led stable lives now navigate a fragile in-between: no longer…

TARASIVKA, Ukraine (AP) — The Russian invasion of Ukraine has displaced millions, scattering families across the country and abroad. For many, heavy fighting in the east means crowded shelters, borrowed beds and fading hope.About 400 miles west of the front line, however, a privately-built settlement near Kyiv offers a rare reprieve: stable housing, personal space and the dignity of a locked door.This is Hansen Village. Its rows of modular homes provide housing for 2,000 people who are mostly displaced from occupied territories. Children ride bikes along paved lanes, passing amenities like a swimming pool, basketball court, health clinic and school.The…

A controversial plan by police in a northern Chinese city to build a crime-fighting tool using blood samples from men has sparked a debate over privacy rights.Police in Xilinhot in Inner Mongolia announced last month that they would start collecting DNA samples to update a data bank for identification information used for such items as ID cards and passports, according to a report by China Newsweek magazine.The police also said at the time that the samples would help in “preventing elderly and children getting lost”, and offered reassurances that personal information and biological samples would be “kept strictly confidential”, according…

WASHINGTON (AP) — With a fragile Israel-Hamas ceasefire and hostage deal holding, President Donald Trump says he’s now turning his attention to bringing Russia’s war on Ukraine to an end and is weighing providing Kyiv long-range weaponry as he looks to prod Moscow to the negotiating table.Ending the wars in Ukraine and Gaza was central to Trump’s 2024 reelection pitch, in which he persistently pilloried President Joe Biden for his handling of the conflicts. Yet, like his predecessor, Trump also has been stymied by President Vladimir Putin as he’s unsuccessfully pressed the Russian leader to hold direct talks with Ukraine’s…

With Japan’s parliament poised to vote on who it wants to next lead the country, a resurgent opposition and the collapse of the ruling coalition have put the prospect of the nation’s first female prime minister in real doubt.On Tuesday, the leaders of Japan’s principal opposition factions agreed to convene in hopes of fielding a unified candidate for the top job, as they aim to break the Liberal Democratic Party’s (LDP) 13-year grip on power.“It will be essential for us to achieve consensus on basic policies,” said Yuichiro Tamaki, leader of the Democratic Party for the People, as quoted by…

In a further sign of mounting tension between the US and China, the US Federal Communication Commission (FCC) on Wednesday took the initial step to “expel Hong Kong Telecom” from the US telecommunication network.In a notice issued late in the day, the US regulatory agency announced that it had sent “Communist Party-controlled” HKT International an order to show cause why it should not revoke the carrier’s right to provide international and domestic services to and from the United States.The basis for the show-cause order appeared to be that Hong Kong Telecom is affiliated with China Unicom (Americas), which is already…

Australia, Victoria, Melbourne, buildings on bank of Yarra riverPeter Adams | Stone | Getty ImagesAsia-Pacific markets were set to open mixed Thursday, after Wall Street gained on strong bank earnings in a volatile trading session.Investors have been on edge in recent days as global trade tensions have escalated. The Cboe Volatility Index (VIX), known to many as Wall Street’s fear gauge, has trended higher over the past week, rising last Friday to more than 21.6, or its most elevated level since late May. The index finished at 20.6 on Wednesday stateside.Australia’s ASX/S&P 200 rose 0.16%. Investors will look to the country’s…

Hong Kong’s residential rental market has improved for eight consecutive months, with rents reaching a record high amid sustained local and overseas demand as analysts predict the gains will continue into 2026.Home rents in the city have increased 2.95 per cent this year, according to Benny Sham, an analyst at Midland Realty.“The rental index stands at a historical high since tracking began, and we expect the figure to increase further, as the drivers for leasing momentum will remain robust,” he said.At the end of September, residential rents had grown 14.9 per cent from 2023, Sham said, citing Midland’s data. Meanwhile,…