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Articles for tag: cancellations, fines, flight, India, IndiGo, Mass, million

January 18, 2026

News Desk

India fines IndiGo $2.45 million for mass flight cancellations

An IndiGo Airlines plane flies low as it prepares to land in Mumbai, India, October 22, 2025.— Reuters Private carrier admits misjudgment, design flaws. The regulator directs IndiGo to provide relief to the senior agencies. The operational collapse is linked to the new pilot rest policy. India’s civil aviation regulator on Saturday fined IndiGo, the country’s largest airline, $2.45 million for poor roster planning that led to large-scale flight cancellations in December. Airports across India fell into disarray late last year, with the private carrier admitting “misjudgment and planning gaps” in adapting to a new pilot rest policy. More than

January 9, 2026

News Desk

Foreign exchange reserves rise by $141 million to $21.19 billion

Entry cover in 2.65 months. Gold falls to Rs 466,162/tola on upcoming US non-farm payrolls data The loan delay will not adversely affect Pakistan’s external position in the short term due to its $16 billion in gross foreign exchange reserves. PHOTO: FILE KARACHI: Pakistan’s total liquid foreign exchange reserves stood at $21.19 billion as of January 2, 2026, reflecting a modest improvement in the country’s external liquidity position, according to official data. The State Bank of Pakistan (SBP) held foreign exchange reserves of $16.06 billion, while commercial banks collectively held net foreign exchange reserves of $5.14 billion, bringing total liquid

January 4, 2026

News Desk

Sugar mills produce 1.36 million tons

The Commissioner attributes the improved performance to strict enforcement of laws and regulations Islamabad: Punjab’s sugar mills produced 1.36 million metric tonnes of sugar during the first 45 days of the ongoing crushing season, and the 41 operational mills in the province processed a total of 15.06 million metric tonnes of cane till December 31, 2025. According to data obtained by Wealth Pakistan from the office of sugarcane commissioner Punjab, the average sugar recovery rate during the first 45 days of crushing improved to 9.43%, from 9.01% recorded in the same period last year. The improvement is attributed to better

January 3, 2026

News Desk

Cement sales increase by 9.7% to 25.8 million tons

LAHORE: Cement shipments showed a slight increase of 1.47% in December 2025 as total sales reached 4.347 million tonnes against 4.284 million tonnes in the same month last year. According to data released by the Pakistan Cement Manufacturers Association, local cement shipments from the industry in December 2025 were 3.725 million tonnes compared to 3.5 million tonnes in December 2024, showing an increase of 6.42%. Exports continued their downward trend and fell by 20.66% in December 2025 when shipments totaled 621,685 tonnes versus 783,550 tonnes in December 2024. During the month under review, cement plants based in the northern base

December 30, 2025

News Desk

Pakistan, ADB ink two climate resilience initiatives worth more than $300 million

Economic Affairs Secretary Muhammad Humair Karim (left) and Asian Development Bank Managing Director Emma Fan ink climate resilience initiatives in Islamabad, December 30, 2025. — Ministry of Finance Coastal project targets flood risks, ecosystem restoration: ministry Punjab’s initiative promotes low-carbon, climate-smart agriculture. Millions to benefit from resilience and productivity measures: ministry. Pakistan and the Asian Development Bank (ADB) on Tuesday signed two major climate resilience initiatives aimed at strengthening coastal protection and promoting low-carbon agriculture. According to a statement issued by the Ministry of Finance and Revenue, the deals include the $180.5 million Sindh Coastal Resilience Sector Project (SCRP) and

December 30, 2025

News Desk

Guaranteed Rs 850 million to new PSL teams

The race to land a Pakistan Super League (PSL) franchise has intensified. Photo: PCB/File KARACHI: The guarantee offer of Rs 850 million for the income of the central team in the Pakistan Super League (PSL) was made only to the two new teams. Existing franchises have no such clause in their agreements. According to details, the Pakistan Cricket Board (PCB) has assured the seventh and eighth teams that starting from PSL 11, they will get a minimum guaranteed amount of Rs 850 million each for the next five editions. This has been labeled a “minimum central pool income guarantee”. If,

December 25, 2025

News Desk

UAE, Saudi Arabia seek more than 1.5 million workers despite rise in artificial intelligence

Workers work near the Burj Khalifa, the world’s tallest tower, in Dubai on May 9, 2013. — Reuters DUBAI: The booming labor markets of the United Arab Emirates and Saudi Arabia are expected to create demand for more than 1.5 million additional workers by 2030, despite the rapid growth of artificial intelligence (AI), according to a global workforce study published in 2025. Research shows that while AI is changing the way businesses operate, it is not reducing the overall need for human workers in the Gulf. On the contrary, strong economic growth, major development projects and the expansion of public

December 21, 2025

News Desk

World Bank approves $700 million for Pakistan’s economic stability

A World Bank building. — Reuters/ Archive Pakistan will receive $700 million from the World Bank under a multi-year program. Funding was approved under the PRID-MPA initiative: World Bank. $600 million approved for Centre, $100 million for Sindh: World Bank. The World Bank said it has approved $700 million in financing for Pakistan as part of a multi-year initiative aimed at supporting the country’s macroeconomic stability and service delivery. The funds will be released under the Public Resources Programmatic Approach for Inclusive Development-Multiphase Development (PRID-MPA), which could provide up to $1.35 billion in total funding, the lender said. Of this

December 19, 2025

News Desk

Pakistan plans to issue inaugural $250 million Panda Bond in January

Finance Minister Muhammad Aurangzeb presides over a meeting at the Finance Department, Islamabad, December 19, 2025. — X@Financegovpk Chinese regulatory approvals expected soon: ministry The Ministry says the issuance is part of the $1 billion Panda Bond Programme. Preparation underway for Panda Series II release: ministry. Pakistan plans to issue the inaugural Panda Bond tranche in January, expecting to raise $250 million, the finance ministry said on Friday. The ministry confirmed the development in a statement after Finance Minister Muhammad Aurangzeb chaired a meeting to review progress on the bond issue. During the meeting at the Finance Department, the minister

December 18, 2025

News Desk

Did Messi receive a million dollar watch from Anand Ambani during Vandara visit?

This photo collage shows Argentine soccer star Lionel Messi during his visit to Vantara founded by Anant Ambani. — Instagram/Vantara Argentine soccer star Lionel Messi wrapped up his tour of chaos-hit India with a visit to Vandara, where he was reportedly gifted a rare million-dollar watch by the son of Indian billionaire Anand Ambani. The official Instagram account of Vantara, the wildlife conservation and rehabilitation center founded by Anant, shared a video showing him giving the football star a tour. During the tour, Anant “shared the purpose that drives Vantara, where animal welfare comes first and every decision is shaped

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