Connect with us

Regional

Market traders strike in Pakistan over power bills and inflation

Published

on

Public markets across Pakistan stayed closed on Saturday due to a strike by retail associations over rising electricity prices and brisk inflation, as the country embarks on a tricky path to economic recovery.

A $3 billion loan programme, approved by the International Monetary Fund (IMF) in July, averted a sovereign debt default in Pakistan but reforms linked to the bailout have fuelled annual inflation running at 27.4%, Reuters reported.

"Today, traders are observing a shutter down strike across Pakistan against the over charging electricity tariff and unjustified taxes," Ashraf Bhatti, president of the All Pakistan Traders Association, told Reuters.

Major markets in Lahore and Karachi, Pakistan's two largest cities, remained shut on Saturday though grocery shops in populated neighbourhoods and medical stores stayed open.

In the southwestern city of Quetta, the capital of Balochistan province, public markets were shuttered all day for the protest, which was called by Jamaat-e-Islami, an Islamist opposition party and joined by traders' groups.

"It is the matter of the entire country as the common man is being badly affected," said Abdul Rehim Kakar, leader of a traders' association of Balochistan.

Worsening economic conditions, along with rising political tension ahead of a national election scheduled for November - but which is likely to be delayed, have triggered sporadic protests in recent weeks.

Regional

G7 foreign ministers condemn Iran’s export of ballistic missiles to Russia

Iran has provided Russia with a large number of powerful surface-to-surface ballistic missiles, deepening the military cooperation between the two countries, which are both under U.S. sanctions.

Published

on

The foreign ministers of the Group of Seven (G7) industrialised powers condemned on Saturday "in the strongest terms" Iran's export and Russia's procurement of Iranian ballistic missiles.

Iran has provided Russia with a large number of powerful surface-to-surface ballistic missiles, deepening the military cooperation between the two countries, which are both under U.S. sanctions.

"Iran must immediately cease all support to Russia's illegal and unjustifiable war against Ukraine and halt such transfers of ballistic missiles, UAVs (drones) and related technology, which constitute a direct threat to the Ukrainian people as well as European and international security more broadly," the G7 ministers said in a statement.

"We remain steadfast in our commitment to hold Iran to account for its unacceptable support for Russia's illegal war in Ukraine that further undermines global security. In line with our previous statements on the matter, we are already responding with new and significant measures."

Italy currently holds the presidency of the G7 group of wealthy nations which also includes the United States, Japan, Germany, Britain, France and Canada. - Reuters 

 

Continue Reading

Regional

Iran launches second satellite this year into orbit, state media says

The Chamran-1 satellite, which was launched into space by the Qaem-100 satellite carrier, was put into a 550-kilometre (340-mile) orbit and its first signals had been received, the media said, adding that the solid fuel carrier was designed and built by the Aerospace Force of the Revolutionary Guards.

Published

on

Iran on Saturday launched a research satellite into orbit with a rocket built by the Revolutionary Guards, state media reported.

The launch comes as the United States and European countries accuse Iran of transferring ballistic missiles to Russia that would be likely used in its war with Ukraine within weeks. Iran has denied this, Reuters reported.

The Chamran-1 satellite, which was launched into space by the Qaem-100 satellite carrier, was put into a 550-kilometre (340-mile) orbit and its first signals had been received, the media said, adding that the solid fuel carrier was designed and built by the Aerospace Force of the Revolutionary Guards.

The primary mission of the satellite, which weighs 60 kg (132 pounds), "is to test hardware and software systems for demonstrating orbital manoeuvring technology in height and phase," according to state media.

In January, Iranian media reported that the Sorayya satellite had been launched into a 750 km orbit, the highest by the country so far.

The U.S. military alleges the long-range ballistic technology used to put satellites into orbit could also allow Tehran to launch long-range weapons, possibly including nuclear warheads.

Tehran denies its satellite activities are a cover for ballistic missile development and says it has never pursued the development of nuclear weapons.

Chamran-1's other mission was to "evaluate the cold gas propulsion subsystem in space systems and the performance of the navigation and attitude control subsystems", state media reported.

Iran, which has one of the biggest missile programmes in the Middle East, has suffered several failed satellite launches in recent years due to technical issues.

Continue Reading

Regional

US imposes sanctions on Chinese suppliers to Pakistan’s ballistic missile program

China will “firmly protect” Chinese companies’ and individuals’ rights and interests, Liu said.

Published

on

The U.S. State Department on Thursday imposed sanctions on a Chinese research institute and several companies it said have been involved in supplying Pakistan's ballistic missile program.

Washington similarly targeted three China-based companies with sanctions in October 2023 for supplying missile-applicable items to Pakistan, Reuters reported.

Department spokesperson Matthew Miller said in a statement that the Beijing Research Institute of Automation for Machine Building Industry had worked with Pakistan to procure equipment for testing rocket motors for the Shaheen-3 and Ababeel systems and potentially for larger systems.

The sanctions also targeted China-based firms Hubei Huachangda Intelligent Equipment Co, Universal Enterprise, and Xi'an Longde Technology Development Co, alongside Pakistan-based Innovative Equipment and a Chinese national, for knowingly transferring equipment under missile technology restrictions, Miller said.

"As today’s actions demonstrate, the United States will continue to act against proliferation and associated procurement activities of concern, wherever they occur," Miller said.

Liu Pengyu, spokesperson for China's embassy in Washington, said: "China firmly opposes unilateral sanctions and long-arm jurisdiction that have no basis in international law or authorization of the UN Security Council."

China will "firmly protect" Chinese companies' and individuals' rights and interests, Liu said.

Pakistan's embassy did not immediately respond to a request for comment.

Continue Reading

Trending

Copyright © 2024 Ariana News. All rights reserved!