07272016Wed
Last update: Wed, 27 Jul 2016 02pm

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Egypt says close to securing 3-year IMF loan programme CAIRO: Egypt said on Tuesday it was close to agreeing a lending programme with the International Monetary Fund (IMF) to ease its funding gap and was seeking to secure $7 billion annually in financing over a three-year period. The prime minister ordered the central bank governor and minister of finance to complete negotiations for the programme with an IMF team that will visit Egypt in the next few days, the cabinet said in a statement.There was no immediate comment from the IMF. Cairo's statement was the first official confirmation that talks with the IMF were indeed under way. Economists welcomed the news coming after a turbulent few weeks for Egypt's currency, which has plummeted to new lows on the black market as confusion mounted over the direction of monetary policy. "It's great. Finally," said Hany Genena, head of research at Beltone Capital. "Confidence will be restored in the government and ...

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Namaz-e-Janaza of two martyred Army men held KARACHI: The funeral prayers of two army personnel Lance Naik Razzak and Sepoy Khadim Hussain, who embraced Shahadat in a terrorist attack on their vehicle in Saddar area of Karachi, had been performed on Tuesday night in the metropolis. Besides the relatives and friends of the martyrs, Corps Commander Karachi Lt-Gen Naveed Mukhtar, Director General Rangers Maj-Gen Bilal Akbar, Sindh Home Minister Sohail Siyal, IG Police Sindh A.D. Khawaja, AIG Mushtaq Mehar, senior officials of ...

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UN eyes late August for new Syria talks GENEVA: The UN's Syria envoy voiced hope Tuesday that peace talks could restart next month, as US Secretary of State John Kerry said there had been "progress" in efforts to salvage an urgently-needed ceasefire. UN envoy Staffan de Mistura has struggled to keep the peace process alive amid a surge in fighting between Syrian President Bashar al-Assad and rebel groups. The fighting persisted Tuesday, with government forces seizing a rebel-held neighbourhood on the northwest outskirts ...

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Sartaj Aziz meets US Secretary of State John Kerry ISLAMABAD: US Secretary of State John Kerry has assured Foreign Affairs Adviser Sartaj Aziz that the United States was ready to improve and expand its multi-dimensional partnership with Pakistan.During the meeting, held on the sidelines of the ASEAN Regional Forum (ARF) Ministerial Meeting in Vientiane, Lao People's Democratic Republic, Adviser Sartaj Aziz and Secretary Kerry also exchanged views on the regional situation with special reference to Afghanistan and agreed on the importance of promoting the ...

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Rabbani flays West criticism, says Asia's strength in diversity ISLAMABAD: Senate Mian Raza Rabbani Tuesday said the criticism by the West that Asian integration was not possible due to cultural, religious and social diversity was not true as the strength of Asia was its diversity and with diversity came the unity. The future of Asia lay in the hands of Asian people, he said while speaking at the two-day meeting of Standing Committee on Economic and Sustainable Development Affairs of Asian Parliamentary Assembly (APA) ...