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Pakistan Times Today

Results for “Funds” (60)

Syeda Mubeena Hashmi Posted in Business

Gulf War Shifts Pakistanis’ Investment Preferences Abroad

The Gulf war has reportedly slowed the flow of illicit funds from Pakistan to Dubai, while some existing investments are being brought back and redirected into local property, according to market sources. Property and currency dealers said Pakistanis with assets in Dubai are facing difficulties recovering funds amid the conflict. Higher remittances from Dubai suggest liquid assets are returning to Pakistan, while Dubai’s appeal as an investment and tourism destination has weakened. Read More…

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Hafsa Mustafa Posted in World

$6bn frozen funds not transferred to Iran yet, says Qatar

A spokesperson of Qatar foreign ministry said on Tuesday said that $6 billion Iranian frozen funds have not been transferred to Iran so far. "They are subject to 2023 agreement and ear-marked for the purchase of humanitarian goods," the spokesperson said in a statement. Speaking about Strait of Hormuz, the spokesperson said that Qatar was coordinating with Oman on key waterway and on safe passage for vessels. Read More…

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Hafsa Mustafa Posted in World

Norway urges US to pressure Israel to release Palestinian tax funds

Norway has called on the US to use its influence to push Israel to release withheld Palestinian tax revenues, warning of deepening economic strain on the Palestinian Authority. Foreign Minister Espen Barth Eide told the Israeli media outlet Haaretz that engaging US-backed institutions could help shift Israeli policy. “The fact that we are now incorporating the American institutions, which they enthusiastically have set up, might actually be the best way also to influence Israel,” he said, adding that Washington still holds sway as Israel’s circle of allies narrows. Read More…

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Hafsa Mustafa Posted in World

Trump backs Cuomo, warns to cut funds for New York City if Mamdani wins mayoral race

US President Donald Trump endorsed former New York Governor Andrew Cuomo for mayor of New York City on Monday and threatened to hold back federal funds to the city if Democratic candidate Zohran Mamdani wins the mayoral election on Tuesday. Trump, a Republican who has offered frequent commentary on the New York mayoral election, injected himself further into the race by crossing party lines to support Cuomo over Mamdani and the Republican candidate, Curtis Sliwa, who trails badly in public opinion polls in the heavily Democratic city. Cuomo, a longtime… Read More…

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Hafsa Mustafa Posted in World

Nicolas Sarkozy heads to jail in historic first for a French president

Former French President Nicolas Sarkozy heads to prison on Tuesday to serve time for a criminal conspiracy to finance his 2007 election campaign with funds from Libya. The first ex-leader of modern France to be imprisoned, Sarkozy contests both the conviction and a judge’s unusual decision to incarcerate him pending appeal. His journey from the presidential Elysee Palace to the notorious La Sante prison in Paris has captivated France. Read More…

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Alina Hashmi Posted in World

Europe's leaders flesh out support for Gaza reconstruction before key summit

European leaders are intensifying efforts to contribute towards Gaza’s reconstruction by mobilising funds and supplying financial, security and governance expertise. The UK, France, Germany and the Netherlands will join Egypt to co-host a Gaza reconstruction summit in Cairo next month. One of the conference's main goals is to attract private sector investment and expertise – with tens of billions required to rebuild the strip – and to assess recovery plans that have been drawn up in the last two years of war. Read More…

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Hafsa Mustafa Posted in Politics

World Bank approves $194mln for education, water projects in Pakistan 

The World Bank (WB) has approved $194 million for education and water projects in Pakistan. According to the World Bank, the funds of $194 mln have been allocated for improving the education system and ensuring water availability in Balochistan. Out of total funding, $100 million will be allocated under the “Access to Quality Education Project” aimed at expanding and enhancing access to quality education. This initiative is expected to benefit approximately 250,000 children across the province. Under the same program, 5,000 teachers will receive professional training, and 400 female students… Read More…

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Hafsa Mustafa Posted in World

WFP hit by 'funds crunch' as millions face hunger in Gaza, Syria, Sudan

A WFP official rings the alarm bell over growing humanitarian crises in the three conflict hotspots, where a severe funding shortage is hindering efforts to tackle worsening food insecurity. The deputy executive director of the UN World Food Program has been on whirlwind visits to hotspots in the Middle East and Sudan to assess dire humanitarian situations and escalating demands for food from millions of people trapped or fleeing conflicts. Read More…

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Alina Hashmi Posted in World

Protests in Paris over far-right pro-Israel gala

Protests erupted in Paris on Wednesday against a controversial gala organised by far-right figures in support of Israel. The event, intended to raise funds for the Israeli military, included Israeli Finance Minister Bezalel Smotrich among invited guests. Mr Smotrich, a vocal advocate of Israeli settlements, had been expected to attend Wednesday's gala, dubbed Israel is Forever, which was planned by an association of the same name. Read More…

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