Pakistan’s Economy Grows 3.7% Despite Floods and Regional Tensions

Pakistan’s economy expanded by 3.7 per cent in fiscal year 2025–26, a modest but significant achievement given the twin pressures of devastating floods and regional military tensions. Finance Minister Muhammad Aurangzeb cited the figure in his budget speech to parliament in June, noting that the economy now stands at $452 billion. Manufacturing rose 6.1 per cent during the year, while services expanded 4.1 per cent. Inflation, which had previously surged to historic highs, moderated to an average of 4.5 per cent — a development that has offered some relief to ordinary households. Foreign exchange reserves improved to $17 billion, reflecting the benefit of resumed IMF disbursements and stronger remittance inflows. Analysts note that the stabilisation gains are real but fragile, and that Pakistan’s underlying growth model still depends heavily on imports and external financing. The government is targeting 4 per cent growth in FY2026–27, with greater emphasis on tax collection, investment attraction, and structural reform.

Nestlé Pakistan & PCSIR Mark World Food Safety Day

Nestlé Pakistan, in collaboration with the Pakistan Council of Scientific & Industrial Research (PCSIR), the Pakistan Society of Food Scientists & Technologists (PSFST), the Department of Food Science, University of the Punjab, and NUR International University (NIU), successfully commemorated World Food Safety Day 2026 under the theme “From Burden to Solutions: Safe Food Everywhere.”

Distinguished participants included Dr. Kiran Khurshid, Secretary, Food Safety and Consumer Protection Department (FS&CPD), Punjab; Jason Avanceña, Chief Executive Officer, Nestlé Pakistan; and leadership from provincial food authorities, including the Punjab, Sindh, and Balochistan Food Authorities, as well as the Pakistan Standards and Quality Control Authority.

In his remarks, Jason Avanceña highlighted that “at Nestlé, food safety is not just a priority—it is our license to operate, our foundation of trust, and our most important responsibility to consumers.”

This joint initiative reaffirmed the commitment of all stakeholders to ensuring safe, high-quality, and reliable food for consumers across Pakistan, while underscoring the shared responsibility to build a stronger and more resilient food safety culture nationwide.

Pakistan Clinches Inaugural Four Nations Cup

Pakistan’s national polo team claimed the title at the inaugural Four Nations Cup, held on June 14 at Great Meadow in The Plains, Virginia, edging out competition from the United States, the United Kingdom, and Argentina in a tournament billed as a showcase of sport and international camaraderie.

The event, hosted by the Great Meadow Foundation, brought together diplomats, business leaders, and equestrian enthusiasts from across the Washington, D.C. region for a day of high-goal grass polo, cultural pavilions, and fieldside hospitality. Originally scheduled for 2025 with India in place of Argentina, the tournament was postponed amid regional tensions before being rescheduled with its current four-nation lineup.

Pakistan’s squad came through the semifinal round before sealing victory in the afternoon final, lifting the trophy on the winners’ podium to enthusiastic applause from the crowd. For a team representing a country with deep polo roots in its northern regions, the win marked a proud moment on foreign soil, with American spectators cheering Pakistan on throughout the day.

Organisers said the Four Nations Cup will become an annual fixture at Great Meadow, with the winning nation defending its title each year going forward.

HBL Marks a Decade of PSL Sponsorship with Exclusive Souvenir

HBL celebrated the conclusion of the 11th season of the HBL Pakistan Super League (HBLPSL) by presenting an exclusive branded souvenir to mark the occasion — an HBLPSL Table-Top Miniature Helmet.

The gesture was accompanied by a letter from Ali Habib, Chief Marketing & Communications Officer at HBL, addressed to Syed Jawaid Iqbal, President and CEO of Corporate & Marketing Communications. In his letter, Habib described HBLPSL as a symbol of the bank’s commitment to giving back to the country and the communities it serves.

Responding to the gesture, Syed Jawaid Iqbal expressed his gratitude to Ali Habib and the HBL team. “This is a deeply thoughtful memento that captures the spirit of a remarkable ten-year journey,” he said. “HBL’s unwavering support for the PSL has been instrumental in shaping the league into what it is today. On behalf of all those who have been part of this journey, I extend my sincere thanks to Ali Habib and everyone at HBL for their generosity, their commitment, and their belief in Pakistan cricket.”

The milestone is a significant one. HBL has sponsored the Pakistan Super League since its very first season in 2016, making 2026 the completion of a decade-long association with Pakistan’s premier cricket tournament. Few corporate sponsorships in Pakistan’s sporting history have been as enduring or as closely identified with a single event as HBL’s partnership with the PSL.

Over the past ten years, the league has grown from a fledgling franchise tournament into one of the most-watched cricket competitions in the world, attracting international talent and commanding a massive television and digital audience. HBL’s name has been synonymous with that journey every step of the way.

The commemorative miniature helmet — a scaled replica of the iconic cricket headgear — serves as a tangible symbol of that decade-long relationship. It is being shared with select individuals as a keepsake marking the end of an era and, potentially, the beginning of another chapter. As the PSL continues to expand its global footprint, HBL’s decade of uninterrupted support stands as a testament to the power of consistent corporate investment in national sport — and in the communities that rally behind it.

Punjab PPRA, PITB, and BOP Host Seminar

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The Punjab Procurement Regulatory Authority (PPRA), the Punjab Information Technology Board (PITB), and the Bank of Punjab (BOP) jointly hosted an awareness seminar in Lahore to prepare stakeholders for the launch of the province’s digitized procurement transition on July 1, 2026. During the session, the Managing Director of Punjab PPRA delivered the keynote address outlining the overall scheme of things. Representatives from PITB and BOP then provided detailed walkthroughs, respectively explaining how the e-procurement portal operates and how secure, real-time financial transactions will take place across the platform.

As the financial partner, BOP has backed the system with a banking-grade security framework to eliminate paperwork and fraud. The platform features digital bid securities via single-touch online transfers, SWIFT-authenticated bank guarantees, and an automated engine for rapid refunds to unsuccessful bidders. To ensure a seamless transition, the tri-party coalition also unveiled a dedicated Digital Procurement Facilitation Center housed within BOP.

The seminar concluded with an interactive Q&A session, where participants highly commended the joint, proactive approach of PPRA, PITB, and BOP ahead of the official July 1 launch.

Trump unveils new US passport with his image

U.S. President Donald Trump has unveiled a rendering of a new limited-edition US passport to mark the country’s 250th anniversary of independence — featuring his stern-faced likeness.

“The USA’s New Pass­p­ort, which says, ‘Welcome, but be good!’” Trump said in a post on his Truth Social platform featuring the passport mock-up.
The image features a glowering Trump leaning on his desk, with his signature, and the text of the Declaration of Indepen­dence in the background. It appears to be based on a portrait taken by White House photographer Dan­iel Torok.

The opposite page shows a painting depicting the declaration’s signing in 1776, with the words “Uni­t­­ed States of America 250.”
The White House posted the same passport rendering, with the words “PATRIOT PASSPORT”.

Trump has aggressively put his personal stamp on government institutions, with banners of the president flying outside several government buildings, and the Treasury Depart­ment saying his signature will soon appear on the one-dollar bill.

He also added his name to the John F. Kennedy Centre for the Performing Arts — until a court recently ruled that it should be removed.
He will be the first sitting US president to be featured on Americans’ travel documents.

Bangladesh Seeks China’s Support for Teesta River Restoration

Bangladesh has formally requested China’s assistance in the long-running Teesta River restoration project, placing the issue on the agenda during bilateral diplomatic engagements in May 2026. The move reflects Dhaka’s efforts under the new BNP-led government to broaden its foreign policy partnerships and reduce reliance on India, with which relations have been strained since the ouster of former Prime Minister Sheikh Hasina in August 2024. The Teesta River has been a persistent point of contention between Bangladesh and India for decades, with a water-sharing treaty repeatedly delayed due to opposition from West Bengal.

BJP Ends Mamata’s 15-Year Rule

The Bharatiya Janata Party (BJP) swept the 2026 West Bengal Legislative Assembly election in May, winning 206 of 294 seats and ending the Trinamool Congress (TMC) chief Mamata Banerjee’s 15-year hold on power in the state. The result was one of the most consequential in Indian state politics in years, given West Bengal’s size, strategic importance, and Mamata Banerjee’s profile as one of the country’s most formidable regional leaders. Suvendu Adhikari, who had earlier defected from the TMC to the BJP, was sworn in as the new Chief Minister. The scale of the BJP’s victory surprised many observers, who had anticipated a closer contest. The election was marked by high turnout, allegations of poll irregularities, and intense campaigning by both Prime Minister Narendra Modi and Mamata Banerjee. The outcome significantly strengthens the BJP’s position in eastern India and is expected to have implications for national politics ahead of the 2029 general election.

Vespa celebrates 80 years

The Vespa, an iconic Italian brand of scooters and mopeds, celebrated its 80th birthday on June 28th, as thousands of riders paraded through Rome on the legendary scooters.

A few donned biker jackets despite the scorching heat, while others opted for t-shirts, the hum of their machines filling the capital with a colourful buzz. Some rode solo, others in pairs, whizzing through the city centre — even along streets usually closed to private traffic.

“The history of the Vespa, which accompanies the birth and rise of Italy after the Second World War, is in a way an iconic symbol of our history, of our culture,” said Roberto Gualtieri, the Italian capital’s mayor.

The Vespa, which means “wasp” in Italian — a reference to the sound of its engine — was born on 23 April 1946, when the first patent for its manufacture was filed in Italy by Piaggio.

It was “the symbol of an Italy emerging from the war and getting back on its feet,” Gualtieri said, adding that he was “proud” that Piaggio had decided to organise the anniversary in the city. “Telling the story of 80 years of the Vespa is, in part, telling the story of how Rome has managed to capture the world’s imagination”, particularly through cinema, he said.

Zidane Iqbal Makes History at FIFA World Cup 2026

Manchester City midfielder Zidane Iqbal became the first player of Pakistani heritage to feature at a FIFA World Cup when he represented his country at the 2026 tournament, co-hosted by the United States, Canada, and Mexico. The moment drew enormous pride across Pakistan and among Pakistani diaspora communities worldwide, drawing widespread attention to the growing presence of South Asian heritage players in top European football. Iqbal, who was born in Manchester to Pakistani parents with roots in Kashmir, had previously represented Pakistan’s youth teams before switching to represent another nation at the senior level. His appearance at the World Cup was celebrated across Pakistani social media as a milestone for the country’s connection to global football. The FIFA World Cup 2026, the largest in football history with an expanded 48-team format, officially opened with a ceremony at the Estadio Azteca in Mexico City and has captivated audiences across South Asia, where cricket typically dominates sporting attention.

Sri Lanka’s Economy on Track to Recover Pre-Crisis Output Levels

Sri Lanka’s economy is expected to regain its 2018 level of real output in 2026, according to the World Bank, as the country continues its recovery from the worst economic crisis in its post-independence history. Growth has been driven by stronger-than-expected performance in tourism and remittances, both of which have rebounded sharply from the lows of 2022 and 2023. The current account and fiscal balances are also improving, pointing to a more stable macroeconomic footing. Sri Lanka successfully completed a debt restructuring agreement with its bilateral creditors and reached a deal with private bondholders in 2024, paving the way for cleaner fiscal sustainability. The government of President Anura Kumara Dissanayake, which came to power in late 2024, has maintained the IMF programme initiated by his predecessor and has sought to rebuild investor confidence. India has remained an important partner, with New Delhi increasing its aid allocation for Sri Lanka to Rs400 crore in its FY2026–27 union budget. The country’s tourism sector, once a major foreign exchange earner, is recovering rapidly, drawing visitors from South Asia, Europe, and China.

Inflation, which had spiralled to record highs during the crisis years, has since moderated significantly, easing the burden on ordinary households and restoring a degree of purchasing power to the middle class. Foreign exchange reserves, once critically depleted, have been gradually rebuilt, reducing the country’s vulnerability to external shocks. Analysts caution, however, that the recovery remains fragile and contingent on sustained fiscal discipline, continued IMF disbursements, and a stable global environment.