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Pakistan

Bakhtawar ties knot with Mahmood Chaudhry

Karachi: Bakhatawar Bhutto-Zardari, the eldest daughter of former president Asif Ali Zardar and slain Benazir Bhutto, on Friday tied the knot with Mahmood Chaudhry, the son of US-based businessman, in Karachi.

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Bakhtawar ties knot with Mahmood Chaudhry
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The nikah ceremony of Bakhtawar and Mahmood Chaudhry was at Bilawal House in a close ceremony as only 300 guests were invited due to coronavirus pandemic.

Festivities for the wedding kicked off earlier this week with a Milad ceremony, which was organized on January 24.

Bakhtawar's henna (Mehndi) function was held Wednesday night and it was attended by the close relatives of both sides.

She had also shared a video on Instagram, showing the mehndi design on her hands.

The reception is scheduled to be held tomorrow (Jan 30).

In November, Bakhtawar Bhutto-Zardari exchanged the rings with Mahmood Choudhry as country’s prominent persons, including politicians, business tycoons, and lawyers attended the functions.

Sports

US Open champion Raducanu faces exit from Wimbledon

Emma Raducanu has struggled with a string of minor injuries since her sensational win at Flushing Meadows last year.

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US Open champion Raducanu faces exit from Wimbledon

US Open champion Emma Raducanu crashed out of Wimbledon on Wednesday, losing her second-round match against Caroline Garcia 6-3, 6-3 to the disappointment of the British home crowd.

The 10th seed, who was troubled by a side strain in the run-up to the Grand Slam, was broken five times in the match on Centre Court by her French opponent, ranked 55 in the world.

Raducanu, 19, was on the back foot early in the contest after being broken in her first service game and won just 45 percent of points on her first serve.

Garcia, fresh from winning on grass at Bad Homberg, hit 25 winners in an impressive display.

"Emma is a huge player and in her home tournament and she proved she can do very well on the big stage," said Garcia.

"I really enjoyed playing on Centre Court, it was my first time and very special."

Raducanu has struggled with a string of minor injuries since her sensational win at Flushing Meadows last year.

She has also come under scrutiny over her failure to settle on a long-term coach.

SOURCE: AFP

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Pakistan

Participants of National Security and War Course visit Naval Headquarters, Islamabad

"Participants of the National Security and War Course were briefed on the role of Pakistan Navy in the development of maritime defense and maritime sector"

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Participants of National Security and War Course visit Naval Headquarters, Islamabad

Islamabad: Participants of National Security and War Course visited Naval Headquarters in Islamabad on Wednesday.

According to Pakistan Navy spokesman, participants included officers from all three armed forces.

He said that participants of the National Security and War Course were briefed on the role of Pakistan Navy in the development of maritime defense and maritime sector.

Naval Chief Admiral Muhammad Amjad Khan Niazi also addressed the participants of the course.

The course participants appreciated the efforts of Pakistan Navy in maritime peace and stability.

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Business

There's need to prioritize inflation fight over growth: global central bank chiefs

ECB President Christine Lagarde says the low inflation of the pre-pandemic era would not return

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There's need to prioritize inflation fight over growth: global central bank chiefs

Bringing down high inflation around the world will be painful and could even crash growth but must be done quickly to prevent rapid price growth from becoming entrenched, the world's top central bank chiefs said on Wednesday.

Inflation is breaking multi-decade highs around the world as soaring energy prices, post-pandemic supply chain bottlenecks and in some cases red-hot labour markets are pushing up the cost of everything, and threatening to set off a hard-to-break wage-price spiral.

"The process is highly likely to involve some pain but the worst pain would be from failing to address this high inflation and allowing it to become persistent," U.S. Federal Reserve Chair Jerome Powell said at the European Central Bank's annual conference in Sintra, Portugal.

Echoing Powell's words, ECB President Christine Lagarde said the low inflation of the pre-pandemic era would not return and that the ECB, which has persistently underestimated price growth, had to act now because price growth was likely to remain above the 2% target for years to come.

RISKS

Engineering policy tightening to avoid a recession in the United States is certainly possible, Powell said, adding that the pathway was narrow and there were no guarantees of success.

"Is there a risk that we would go too far? Certainly there's a risk, but I wouldn’t agree that it's the biggest risk to the economy," he said. "The bigger mistake to make, let's put it that way, would be to fail to restore price stability."

Augustin Carstens, the General Manager at the Bank for International Settlements, an umbrella group of central banks, said policymakers had taken the first step in recognising they had a problem. Now their job was to tighten policy, as risks were mounting.

"They should try to... prevent the full transition from a low inflation environment to a high inflation environment where this high inflation gets entrenched," Carstens told the ECB gathering. "You need to prevent this vicious cycle from kicking in."

The ECB has already flagged rate hikes in both July and September while the Fed increased rates by 0.75 percentage points in June and may opt for a similar move in July.

The Bank of England raised rates by 25 basis points to 1.25% this month - its fifth successive move -and said it would act "more forcefully" in the future if it saw a greater persistence of inflation.

"There will be circumstances in which we will have to do more," BoE Governor Andrew Bailey told the conference. "We're not there yet in terms of the next meeting. We're still a month away, but that's on the table."

"But you shouldn't assume it's the only thing on the table," he said, referring to another 25 basis point hike.

However, Bailey also warned that the British economy was now clearly at a turning point and starting to slow.

SOURCE: REUTERS

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