Today's News February 26, 2025

 

Today's News February 26, 2025

1. Abandoned Gwadar International Airport in Pakistan

The newly constructed Gwadar International Airport in Pakistan, completed in 2024 at a cost of £190 million, remains unused. Designed to handle 400,000 passengers annually and accommodate large aircraft like the Airbus A380 and Boeing 747, the airport has not seen any flights or passengers. Security concerns, including potential attacks from nearby mountains, have delayed its inauguration. The project, part of the China-Pakistan Economic Corridor (CPEC), has raised questions about its benefits to local communities, with critics suggesting it serves more strategic interests for China than for Pakistan.

2. Chinese Military Drills Near Australia

Tasmanian Senator Jacqui Lambie has voiced serious concerns over Australia's defense capabilities following Chinese warships conducting live-fire exercises within Australia's Exclusive Economic Zone (EEZ). The Australian Defence Force (ADF) was reportedly unaware of these maneuvers until informed by a New Zealand warship and a civilian airline pilot. Senator Lambie criticized the ADF's preparedness and equipment, emphasizing the need to strengthen Australia's borders rather than relying on future assets like AUKUS submarines. The Chinese defense ministry stated that their drills complied with international laws, though Australia lodged a protest due to the lack of prior notice.

3. UK's Potential Disengagement from International Courts

Kemi Badenoch, a prominent Conservative leader, has suggested that the United Kingdom should consider disengaging from international courts and institutions influenced by activists and autocratic regimes. In a recent speech in London, she argued that relying solely on international law for peace is misguided, citing the International Court of Justice's ruling against the UK over the Chagos Islands as an example. Badenoch emphasized the need for realism in international relations and criticized institutions like the European Court of Human Rights for promoting activist agendas. She advocates for the UK to prioritize national interests and support effective international partnerships such as NATO and AUKUS.

4. International Consolidated Airlines Group's Market Performance

Shares of International Consolidated Airlines Group S.A. experienced a decline of 1.56%, closing at £3.21. This performance contrasts with the overall positive trend in the stock market, where the FTSE 100 Index rose by 0.11% to 8,668.67. The company's stock is currently 12.81% below its 52-week high of £3.68, achieved on February 7th. The trading volume for the day was 11.3 million shares, significantly lower than the 50-day average of 23.3 million shares.

5. Flight Centre's Financial Outlook Amid Airfare Trends

Flight Centre reported an underlying profit of $117 million for the six months ending in December, falling short of the anticipated $127 million. The profit before tax decreased by 27% to $88 million, leading to an 11% drop in share price. This decline is partly attributed to a 9% reduction in international airfares in the first quarter and an additional 3% in the second quarter. Despite these challenges, Flight Centre anticipates improved performance in the second half of the fiscal year, targeting a full-year profit between $365 million and $405 million. CEO Graham Turner noted that while current airfares are low, they have likely reached their lowest point, and he expects increased competition, potentially from a Virgin Australia-Qatar Airways partnership. The company also highlighted stronger performance in luxury travel sectors.

6. Daniel Jebbison's International Football Allegiance Switch

Daniel Jebbison, a 21-year-old striker for Bournemouth, has decided to switch his international football allegiance from England to Canada. Born in Oakville, Ontario, Jebbison was eligible to represent Canada, England, or Jamaica through his parents. Having played for England at various youth levels, including the Under-19 team that won the Euros in 2022, Jebbison has begun the process for a FIFA one-time change to represent Canada. This decision follows discussions with Canada's head coach, Jesse Marsch, who emphasized the significance of Canada's role as a host nation for the 2026 World Cup. Jebbison is expected to join Canada's training camp in March for the Concacaf Nations League finals.

7. Ongoing Conflict Between Israel and Hezbollah

Israeli forces are reportedly on standby for a potential ground invasion of Lebanon, following escalated tensions with Hezbollah. The United States has expressed concerns over further escalation in the region and has urged for a ceasefire. In response, the U.S. has deployed additional troops to the area. The situation remains fluid, with diplomatic efforts ongoing to prevent a broader conflict.

8. South Sudan Closes Schools Due to Extreme Heat

The government of South Sudan has announced the closure of all schools for two weeks in response to an extreme heatwave that has caused some students to collapse. Authorities are monitoring the situation closely and will determine if further measures are necessary to protect public health.

9. Sweden Investigates Baltic Sea Cable Damage

Swedish authorities are investigating damage to a cable discovered in the Baltic Sea. The cause of the damage has not been disclosed, and officials are conducting a thorough assessment to determine the circumstances surrounding the incident.

10. Ugandan Opposition Leader Charged with Treason

Kizza Besigye, a prominent Ugandan opposition figure, has been charged with treason amid allegations that he plotted to remove the country's long-time leader by force. The charge carries the death penalty, marking a significant escalation in his legal challenges.

Pakistan News Highlights – 

1. Gwadar International Airport Remains Unused

The New Gwadar International Airport, completed in 2024 at a cost of £190 million, remains non-operational. Designed to handle 400,000 passengers annually and accommodate large aircraft like the Airbus A380 and Boeing 747, the airport has yet to see any flights or passengers. Security concerns, particularly the potential for attacks from nearby mountainous regions, have delayed its inauguration. Funded entirely by China as part of the China-Pakistan Economic Corridor (CPEC), the airport's utility has been questioned, especially given Gwadar's modest population of approximately 90,000 residents. Local leaders express dissatisfaction, noting that no residents from Gwadar have been employed at the airport. The region continues to face challenges such as power outages, water shortages, and limited connectivity to the national grid. The heavy militarization to protect CPEC investments has also impacted daily life, leading to feelings of marginalization among the local populace.

2. IMF and Pakistan to Discuss $1 Billion Climate Financing

An International Monetary Fund (IMF) mission is scheduled to visit Islamabad from February 24 to 28 to discuss the provision of approximately $1 billion in climate financing under the IMF's Resilience and Sustainability Trust. Established in 2022, this trust offers long-term, concessional funding for climate-related initiatives. Pakistan, highly vulnerable to climate change as evidenced by the devastating floods in 2022, formally requested this funding to bolster its climate resilience. The country's economy is currently under recovery, supported by a $7 billion IMF Extended Fund Facility secured last year. Another IMF mission is anticipated in early March to review the existing facility.

3. World Bank Criticizes Pakistan's Renegotiation of Energy Contracts

The World Bank's private finance arm, along with seven other international development institutions, has criticized Pakistan for military-led renegotiations of decade-old wind and solar power contracts. These renegotiations were reportedly conducted in military settings where investors felt coerced. The institutions emphasized the importance of Pakistan honoring its contractual commitments to maintain investor confidence and prevent future investment deterrents. Despite these tensions, the International Finance Corporation (IFC) plans to invest $2 billion annually in Pakistan over the next decade to stimulate private sector growth. Pakistani officials have denied allegations of coercion, asserting that the renegotiations aim to reduce power tariffs for consumers.

4. ICC Champions Trophy 2025 Underway

The 2025 ICC Champions Trophy commenced on February 19, 2025, with Pakistan serving as the primary host. Due to security concerns, India's matches, including group stage, semi-finals, and potentially the final, are being held in Dubai, while other matches take place across various venues in Pakistan. The tournament features eight top-ranked ODI teams divided into two groups. The final is scheduled for March 9 in Lahore, unless India qualifies, in which case it will be held in Dubai. The Gaddafi Stadium in Lahore underwent significant renovations ahead of the tournament, including increasing seating capacity and modernizing facilities.

5. Prime Minister Shehbaz Sharif's Diplomatic Engagements

Prime Minister Shehbaz Sharif is on a diplomatic tour, having visited Azerbaijan from February 24 to 25. The visit aimed to strengthen bilateral cooperation in sectors such as energy, trade, defense, education, and climate. Several memorandums of understanding and agreements were signed during the visit. Following this, the Prime Minister is scheduled for a two-day trip to Uzbekistan starting February 26, focusing on discussions about offering Uzbekistan access to Karachi port for transit trade and signing key trade agreements.

6. Provincial Political Developments

In Sindh, Syed Murad Ali Shah of the Pakistan People's Party (PPP) was re-elected as Chief Minister for a third consecutive term on February 26, securing 112 votes against his opponent Ali Khursheedi of the Muttahida Qaumi Movement-Pakistan (MQM-P), who received 36 votes. In Khyber Pakhtunkhwa, the 12th Provincial Assembly convened on February 28, with over 115 newly elected members taking their oaths. Ali Amin Gandapur, a Pakistan Tehreek-e-Insaf (PTI)-backed independent candidate, was elected as Chief Minister on February 29, obtaining 90 votes.

7. Upcoming 'Surprise Day' Observance

Pakistan is set to observe 'Surprise Day' on February 27, commemorating the events of 2019 when the Pakistan Air Force conducted airstrikes in Indian-administered Kashmir and subsequently captured an Indian pilot. The day is marked by media broadcasts, ceremonies at PAF Headquarters, and various activities nationwide.

Bollywood Highlights:

1. Release of "Pintu Ki Pappi"

   The romantic comedy "Pintu Ki Pappi" hit theaters on February 21, 2025. Directed by Shiv Hare, the film features Vijay Raaz, Murli Sharma, and newcomers Shushant and Jaanyaa Joshi. Produced by Vidhi Acharya, the movie has garnered attention for its fresh cast and engaging storyline.

2. "Chhaava" Achieves Box Office Success

   "Chhaava," a historical action film based on the life of Maratha ruler Sambhaji, was released on February 14, 2025. Starring Vicky Kaushal and Rashmika Mandanna, the film has become the highest-grossing Indian film of 2025. Directed by Laxman Utekar and produced by Dinesh Vijan under Maddock Films, "Chhaava" has been praised for its compelling narrative and performances.

3. Digital Premiere of "Mrs."

   "Mrs.," a Hindi-language drama starring Sanya Malhotra, premiered on ZEE5 on February 7, 2025. Directed by Arati Kadav, the film is a remake of the 2021 Malayalam movie "The Great Indian Kitchen." It explores the journey of a newlywed woman navigating patriarchal traditions. The film has received positive reviews, particularly for Malhotra's performance.

Hollywood Highlights:

1. Jennifer Love Hewitt Discusses Ageism in Hollywood

   In a recent interview, Jennifer Love Hewitt, 45, addressed the challenges of aging in the entertainment industry. She highlighted how fans often struggle to accept the natural aging process of actors, emphasizing the importance of evolving beyond one's youthful image.

2. Karla Sofía Gascón to Attend the Oscars

   Karla Sofía Gascón is set to attend the Oscars on March 2, 2025, where she is nominated for Best Actress for her role in "Emilia Pérez." This nomination marks a historic moment as she becomes the first openly trans person to receive an Academy Award nomination. Despite previous controversies, Gascón expressed gratitude for the opportunity to participate in the ceremony.

3. Upcoming 97th Academy Awards

   The 97th Academy Awards are scheduled for March 2, 2025, with Conan O'Brien hosting the event. Anticipation surrounds key categories, including Best Picture and Best Director. The ceremony promises to be a star-studded affair, celebrating outstanding achievements in cinema over the past year.

Lollywood Highlights:

1. "The Trial" Premieres in Pakistan

   "The Trial," a courtroom drama featuring Sajal Aly and Ahad Raza Mir, premiered on February 20, 2025. Directed by Asim Abbasi, the film delves into a high-profile legal battle, showcasing the complexities of the Pakistani judicial system. Critics have lauded the film for its gripping narrative and stellar performances.

2. "Zindagi Tamasha" Selected for International Film Festival

   Sarmad Khoosat's "Zindagi Tamasha" has been selected to represent Pakistan at the upcoming Berlin International Film Festival. The film, which explores societal taboos and personal struggles, has previously faced controversies but is now gaining international recognition for its poignant storytelling.

3. Revival of Pakistani Cinema Post-Pandemic

   The Pakistani film industry is witnessing a resurgence with several new releases and projects announced post-pandemic. Filmmakers are exploring diverse genres, and collaborations with international artists are on the rise, signaling a positive trajectory for Lollywood's future.