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Pakistan urges UNSC to designate BLA as terrorist group

UNITED NATIONS: Pakistan on Wednesday urged the United Nations Security Council (UNSC) to move swiftly to designate the banned Balochistan Liberation Army (BLA) as a terrorist organisation under its sanctions regime, saying the listing request was already under consideration by the council. “We hope the council will act swiftly to designate BLA under the 1267 sanctions regime, acceding to the listing request that is currently under consideration,” Pakistan’s Permanent Representative to the United Nations, Ambassador Asim Iftikhar Ahmad, told a UNSC briefing on ‘Threats to International Peace and Security caused by Terrorist Acts’. In his remarks, the envoy thanked UNSC members for issuing a press statement condemning the recent attacks in Balochistan and expressed appreciation for what he described as an international “outpouring of support and solidarity with Pakistan”. “We remain resolute in eliminating this externally sponsored scourge from our soil and exposing the sponso...
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That’s not cricket: How ‘creeping Hindutva’ stumped sportsmanship ahead of the T20 World Cup

In 1993, a rising star kicked off a legendary Bollywood career with back-to-back megahits in Darr and Baazigar , where he introduced audiences to the concept of the ‘anti-hero’. Thirty-three years later, it led to Bangladesh being expelled from a World Cup. If this paragraph makes no sense to you, there are some crucial details that need to be unpacked to make this connection clear. But at the heart of this story is one disturbing new reality — international cricket today has become a tool of India’s ruling Hindutva regime. From Mustafizur’s ouster to Bangladesh’s expulsion Let’s begin with the basic details. On January 2, a member of India’s ruling Bharatiya Janata Party (BJP), Sangeet Som, attacked India’s most popular Muslim figure , Shahrukh Khan, calling him a traitor. Shahrukh owns the Kolkata Knight Riders (KKR), a cricket franchise of the Indian Premier League that had selected Bangladesh cricketer Mustafizur Rahman. Threatening Mustafizur with “dire consequences” and cla...
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JPMorgan plans frontier bond index

• Pakistan among top-weighted countries in planned benchmark • Proposed gauge targets high-yield local bonds in 20-25 economies across Asia, Africa and beyond LONDON: JPMorgan is finalising plans for a new index to track frontier market local currency bonds, investors consulted on the details told Reuters , as the bank looks to satisfy a growing appetite for riskier and more diversified high-yield debt. The move, which comes 15 years after the Wall Street bank launched its hard-currency Next Generation Markets Index (NEXGEM) frontier index, coincides with the year-long slump in the dollar and some extraordinary recent rallies in markets like Argentina, Ecuador and Uganda. JPMorgan declined to comment on the plans. Six leading money managers who spoke to Reuters on condition of anonymity said the bank’s engagements with them reached an advanced stage in the second half of last year. The proposed index includes 20 to 25 countries, with Egypt, Vietnam, Kenya, Morocco, Kazakhstan, ...
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Israel bombs civilian areas in Lebanon

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AIN QANA: Smoke rises after an Israeli airstrike targeted a building in this southern Lebanese village, violating a truce.—AFP BEIRUT: One person was killed and eight others were injured on Monday as the Israeli military conducted strikes on multiple locations in southern Lebanon, targeting civilian areas in two villages. Despite a November 2024 truce that sought to end more than a year of hostilities including two months of all-out war between Israel and the group, Israel has kept up regular strikes on Lebanon and has maintained troops in five areas it deems strategic. Justifying the destruction, the Israeli military claimed that it was targeting “weapons storage facilities”. It further attempted to legitimise the bombing of residential neighbourhoods by reciting its standard claims, saying fighters hiding among “civilian infrastructure”. The Israeli army had previously sent evacuation warnings for the towns of Kfar Tibnit and Ain Qana in southern Lebanon. Lebanon’s state-run ...
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Pakistan’s export fragility exposed

The recently finalised EU–India Free Trade Agreement (FTA), described by Brussels as “the mother of all agreements”, is a crucial development that should prompt Pakistan to reassess its export strategy. The European Union or EU is not just another market for Pakistan; it is the cornerstone of the country’s export economy. Approximately 40pc of Pakistan’s exports head to the EU, with textiles and clothing representing nearly 76pc of those exports in 2024. This heavy concentration on a single market and product category brings both advantages and risks. On one hand, European demand has traditionally been stable, and the Generalised Scheme of Preferences Plus (GSP+) has provided Pakistani exporters with sustained market access for value-added textiles. On the other hand, such reliance makes Pakistan highly vulnerable. Any reduction in competitiveness — whether through tariffs or non-tariff barriers — can quickly lead to lost orders, idle factories, job losses, and increased pressure on...
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Where next with private credit?

In an economy scarred by one crisis after another, Pakistan’s banking sector has been a notable exception even as others struggled. With interest rates peaking at 22 per cent two years ago, sustained government borrowing allowed the sector to lock in high returns by parking liquidity in fixed Pakistan International Bonds (PIBs), earning bumper profits with minimal balance sheet risk. However, the past is another country, and now things seem to be returning towards normalcy — whatever that means in Pakistan’s context. For the most part, monetary policy has already been eased as the key rates have reverted towards their long-term (20-year) average of 10.35pc, naturally raising expectations that it would revive private sector activity. Unfortunately, the data is troubling as private sector credit becomes increasingly divergent from the broader monetary cycle, reflecting structural incentives that favour the deployment of liquidity into government securities rather than lending to the re...
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Prominent names feature in fresh Epstein files dump

• US commerce chief Lutnick visited private island in 2012 • Musk inquired about ‘parties planned’ • Fed nominee Warsh on guest list for holiday gathering • Epstein ‘helped Bill Gates obtain drugs, facilitated illicit trysts’ • DoJ says papers carry ‘untrue and sensationalist claims’ about President Trump WASHINGTON: A fresh cache of files released on Friday related to the investigation into the late convicted sex offender Jeffrey Epstein contains documents that refer to numerous high-profile figures. President Donald Trump, Microsoft co-founder Bill Gates, Commerce Secretary Howard Lutnick and SpaceX founder Elon Musk are among some of the people named in the documents. The disclosure offers a sprawling look into the elite circles Epstein inhabited before his death, implicating prominent figures in politics, business and entertainment. The documents were published following a deadline mandated by a bipartisan congressional law requiring the public release of all files relat...
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