WASHINGTON: The US Federal Aviation Administration grounded all departing flights nationwide on Friday after a communications failure hit air traffic control centers across the country, disrupting thousands of flights.
The announcement means planes in the air may land, but those on the ground cannot take off. Flight tracking service FlightAware said nearly 7,000 flights were delayed or cancelled due to the nationwide ground stop.
“The FAA issued a nationwide ground stop for all US airports following a communication issue impacting all Air Route Traffic Control Centers. FAA technicians are investigating the issue. We will provide immediate updates as we have them,” Transportation Secretary Sean Duffy said.
The disruption is the latest sign of strain on the US air traffic control system, which has been beset by equipment failures, communications problems and shortages of controllers while the FAA tries to replace aging infrastructure. Congress approved $12.5 billion for the overhaul last year, and the FAA and White House asked lawmakers on Friday for another $30.1 billion.
Shortly before the announcement, the FAA halted traffic in Chicago due to air traffic control communications issues. The agency said, “All departing traffic should remain groundstopped until further notice.” The FAA said it would manage international flights on a case-by-case basis.
Friday’s halt was the second nationwide ground stop of all departures since the September 11, 2001, attacks. The other happened in January 2023, when the FAA paused all domestic departures for less than two hours.
Nvidia’s board has approached British chipmaker Arm Holdings CEO Rene Haas in its search for a potential successor to Jensen Huang, the Financial Times reported on Friday, citing people familiar with the matter.
Huang stepped down on Thursday after revelations of extramarital affairs, including one involving a suspected Chinese spy, plunging the chipmaker into crisis and sending shockwaves across an AI industry he helped bankroll.
Haas’ name has been making the rounds among analysts since Huang’s exit. He spent seven formative years at Nvidia, rising to vice president and general manager of its computing products business, before joining Arm in 2013.
He is among several candidates being considered and there is no guarantee he will be offered the job or accept it, the FT reported. Nvidia’s finance chief Colette Kress is the interim CEO.
Arm declined to comment, while Nvidia did not immediately respond to a Reuters request for comment. Reuters could not independently verify the report.
Haas became Arm CEO in 2022, overseeing the company’s Nasdaq listing in 2023. Arm designs processor architectures and licenses them to other companies that develop chip designs. Historically its strength has been in mobile phones and it is expanding into computers.
Arm’s US-listed shares pared losses after the report and were down more than 5%. Nvidia’s shares were down over 3%.
ISTANBUL: Turkey and Qatar signed a mutual defence agreement on Friday, the office of President Tayyip Erdogan said, as the Turkish leader met the Qatari Emir Sheikh Tamim bin Hamad al-Thani in Istanbul.
“President Erdogan stated that we would continue working together to prevent the resurgence of war in the Gulf region and establish a basis for dialogue and achieve peace,” the presidency said in a statement on X, which did not provide details on the defence accord.
The statement cited him as saying that Turkey and Qatar were working to develop and diversify their energy partnership, and that their cooperation in the defence industry would continue to grow.
“President Erdogan stated that the Mutual Defence Agreement signed today by Turkey and Qatar would add another dimension to our brotherhood,” it added.
In August, Turkey, Saudi Arabia and Pakistan signed a joint defence agreement in Mecca, bringing together the Sunni Muslim US allies at a time of conflict across the region.
Turkey’s parliament ratified the so-called Mecca Joint Defence Agreement last week, clearing the way for Ankara to send military support to Saudi Arabia, which has been struggling to fend off attacks by Yemen’s Houthi.
Under the agreement, signed by the three regional powers in August, an attack on one party constitutes an attack on all.
The government on Friday reduced the price of petrol by Rs2 per litre, marking its ninth consecutive decrease, while the high-speed diesel rate was unchanged at Rs360 per litre.
Following the revision, petrol will retail at Rs330 per litre from Nov 14 (Saturday) to Nov 16 (Monday), according to a notification by the Oil and Gas Regulatory Authority (Ogra).
The government continues to levy Rs114 per litre in taxes and duties on petrol and Rs100 per litre on diesel.
Under an arrangement announced on Nov 2, for 30 days, oil refineries will contribute to the petroleum levy by bearing a cumulative impact of Rs15 billion, according to the government. This allows a Rs14.71 reduction in the petrol price at the consumer end.
On Sept 17, the government rolled out the Prime Minister’s Fuel Relief Scheme across the country to ease the public’s burden amid rising fuel prices due to the Middle East situation.
The subsidy scheme applies to owners of motorcycles, rickshaws and vehicles of up to 800cc.
Rise in fuel prices
The price of HSD has come down from a peak of Rs520.35 recorded on April 3. Its price had started rising from Rs281 per litre after the US-Iran war broke out on Feb 28.
Meanwhile, the government has reintroduced a raft of austerity measures in response to rising fuel prices amid the ongoing Middle East conflict. Under these measures, markets are required to close by 9pm, and fuel allocations for official vehicles have been cut by 50pc for three months.
Since July 17, the government has been revising fuel prices on a near-daily basis due to fluctuations in international market prices following renewed hostilities between Iran and the US.
The petroleum minister stated that the cabinet and the prime minister had decided to give Ogra the responsibility of deciding fuel prices on a daily basis based on international market trends.
Prior to this, the government had been announcing weekly revisions to fuel prices since early March, alongside measures for the conservation of fuel amid possible oil supply disruptions due to the conflict. The federal government had also announced targeted relief measures in April to provide subsidised fuel.
Petrol is mainly used in private transport, small vehicles, rickshaws and two-wheelers, and changes in its price affect the middle and lower-middle classes.
Similarly, changes in diesel prices also impact the public at large, as it is mainly used in the heavy transport sector, power plants and large generators.
Petrol and HSD are the major revenue earners, with monthly sales of about 700,000 to 800,000 tonnes, compared to just 10,000 tonnes of monthly demand for kerosene.
Pakistan government on Friday decreased the price of petrol by Rs2 to Rs330 per litre, while keeping the price of high-speed diesel (HSD) unchanged at Rs360 per litre, effective from Saturday, November 14, 2026.
In its press release, the Oil and Gas Regulatory Authority (OGRA) said the prices were worked out under the petroleum products pricing mechanism approved by the federal government.
The new prices will remain effective till Monday, November 16, 2026.
On Thursday, the government reduced the price of petrol by Rs3 to Rs332 per litre and HSD by Rs4 to Rs360 per litre.
On a weekly basis, the petrol price witnessed a decrease of 4.6% or Rs16 from Rs346 per litre rate announced last Friday. Similarly, diesel price saw a decline of 4.8% or Rs18 from Rs378 per litre.
Oil prices were mixed on Friday and headed for a second weekly decline as the US focus on its blockade of Iran and other economic pressure eased fears of renewed direct conflict, though shipping attacks remained a supply risk.
Brent futures rose 39 cents, or 0.4%, to $96.21 a barrel at 1200 GMT. US West Texas Intermediate (WTI) futures were down 12 cents, or 0.1%, to $88.62 a barrel.
Pakistan will host a major International Hockey Federation (FIH) event after a gap of 24 years, with the fifth edition of the FIH Hockey Men’s Nations Cup scheduled to be held in Lahore from February 19 to 28, 2027.
FIH President Tayyab Ikram and interim Pakistan Hockey Federation (PHF) President Mohyuddin Ahmad Wani announced the decision at a ceremony in Islamabad on Friday, where they also formally signed an agreement for the hosting of the 10-team tournament.
The ceremony was attended by Federal Minister for Inter-Provincial Coordination Rana Sanaullah Khan, Federal Minister for Information and Broadcasting Attaullah Tarar, State Minister for Education Wajiha Qamar, lawmakers, former hockey players and ambassadors of various countries.
The fifth edition of the competition will mark the first expansion from an eight-team to a 10-team format, reflecting the growing competitiveness of international men’s hockey and providing more nations with exposure to high-level competition. Besides hosts Pakistan, Egypt, Ireland, Japan, Malaysia, New Zealand, Scotland, South Africa, South Korea and the United States will feature in the tournament.
Pakistan, who finished runners-up in the 2024-25 edition, will be looking to capitalise on home advantage and secure promotion to the 2027-28 FIH Hockey Pro League. The Nations Cup champions will earn a place in the top-tier competition, which brings together the world’s leading hockey nations.
Addressing the ceremony, Ikram described the Nations Cup as a major international hockey event and termed its return to Pakistan a significant moment for the country and the sport.
He said Pakistan had no shortage of hockey talent and assured the country of the FIH’s full support for the promotion and revival of the game. He also praised the national team’s performance at the recently concluded Asian Games.
In a significant development, Ikram announced that Naseer Bunda Hockey Stadium had been approved as an official FIH High Performance Centre to support the development of players.
However, he stressed the need for structural and financial reforms to put Pakistan hockey back on track. He recommended the establishment of an independent sports ministry and called for improvements in the country’s financial model for sports, particularly hockey, saying adequate investment could help Pakistan make considerable progress.
In a statement issued after the announcement, Ikram said Pakistan held a cherished and foundational place in the heritage of hockey, backed by an extraordinary passion among its fans and a rich legacy of champions.
He said bringing a major FIH event back to the country reflected the international body’s commitment to expanding hockey’s global footprint and supporting national associations seeking opportunities to compete on the world stage. He expressed confidence that the PHF and local authorities would deliver a world-class tournament that would inspire the next generation of players.
Rana Sanaullah said Prime Minister Shehbaz Sharif and the government were taking steps to revive hockey, which had long remained a source of national identity and pride.
Regretting the decline in Pakistan’s standing in international hockey, he said it was disappointing to see lower-ranked teams defeat the national side by substantial margins. However, he assured the gathering that the government would extend all possible support for the revival of the national game.
The minister said the issue of the PHF’s interim arrangements would also be resolved and urged former hockey players and legends to support the federation in its efforts to restore the country’s lost standing. He praised Wani’s performance and called on former players to work with him for the betterment of the game.
Wani, meanwhile, outlined the federation’s recent initiatives, including participation in international competitions and the hiring of foreign coaches. Acknowledging that Pakistan hockey had suffered a decline over the past two decades, he said efforts were now under way to improve the situation.
He described the award of the Nations Cup hosting rights as a strong expression of international confidence in Pakistan’s ability and capacity to stage major sporting events.
“Pakistan will be wonderful hosts, and hockey fans will have the opportunity to witness world-class, highly competitive international hockey on home soil,” he said, terming the tournament a new chapter in the revival of the national game.
Launched in 2022, the Nations Cup provides high-level competitive opportunities to emerging hockey nations and offers a merit-based pathway to the Pro League. Previous editions were held in South Africa, Poland and Malaysia. South Africa won the inaugural tournament in Potchefstroom in 2022, while New Zealand have claimed the title twice and will return to Lahore seeking another triumph.
France, the reigning 2025-26 champions, have secured promotion to the Pro League and will not feature in the next edition.
The 10-day competition will bring together teams from five continents, offering Pakistan an opportunity to demonstrate its capacity to host major international sporting events while giving the national side a chance to return to the elite level of international hockey.
In a move aimed at simplifying worker registration and improving industrial labour services, the Sindh Labour Department will set up a dedicated ‘Labour Registration Helpdesk’ at the SITE Association of Industry every Tuesday and Thursday, Secretary Labour Sajid Jamal Abro announced during his visit to the association on the suggestion of SAI president, Abdul Hadi.
He was accompanied by the SESSI Commissioner, Director Labour Sindh, Joint Director Labour and other senior officials.
Responding to a query from a participant, Abro urged industrialists to report any officer demanding money for registration and invited association members to utilise the S-BOSS platform for the process.
In healthcare, the secretary said efforts were under way to upgrade services at the Kulsumbai Valika Social Security S.I.T.E. Hospital under a public-private partnership model. He assured that a “notable change” in service delivery would soon be visible and invited association members to revisit the hospital to witness the improvements.
Referring to the HIV outbreak at Valika Hospital last year, Abro said a number of actions had been taken against those found responsible. A committee had been formed under the Chief Secretary Sindh, while an endowment fund of Rs2 billion had been created. Families of affected children are being paid Rs40,000 per month to meet their daily expenses, and this financial assistance will continue for years.
Earlier, in his welcome address, SAI president Abdul Hadi expressed confidence that the Secretary Labour, being an experienced professional, would help resolve issues faced by association members relating to the Labour Department. He said the five departments falling under the Labour and Human Resources Department should be clubbed together to achieve the goal of ease of doing business. He also pointed out that the Labour Department was conducting two inspections annually instead of one and sought an update on reforms at Kulsumbai Valika Hospital and the HIV outbreak issue.
Patron Saleem Parekh said there was a possibility of massive layoffs in industries due to non-friendly business conditions and suggested preparing to face the situation. He demanded a one-year contribution amnesty for industries, adding that industries were also being affected by trade accords and labour union activities. He stressed the need to jointly work out solutions to address these issues.
Senior member Majyd Aziz highlighted the anti-export activities of labour leaders and expressed concern that they were also being given representation in different committees. He suggested identifying gaps, allowing time for correction and imposing penalties only as a last resort.
Former SAI president Riaz Uddin stressed the need to reform the tripartite labour committee through improved representation, pointing out that the existing representation was inappropriate and the understanding of the nominees was also sub-par.
Chairman of the Labour Committee Khalid Riaz said that despite substantial collections in SESSI contributions, no amount was being spent on improving healthcare services at Valika Hospital, SITE. He requested the Secretary Labour Sindh to direct the SESSI Commissioner to share the organisation’s audit reports with industry representatives.
Advisor of the Labour Committee Abdul Kadir Bilwani suggested to spend 25% of the total SESSI contribution collection from SITE on the improvement of the hospital so as to attract other industries to get registered with SESSI.
The meeting was attended by Riaz Uddin, Ahmed Azeem Alvi, Ahmed Zulfiqar Chaudhry, Muhammad Hussain Moosani, Muhammad Riaz Dhedhi, Muhammad Tahir Goreja, Muhammad Rizwan Lakhany, Junaid-ur-Rehman, Azeem Motiwala and others. Senior vice president Muhammad Farhan Ashrafi proposed a vote of thanks. As a gesture of goodwill, the association’s shield and a bouquet were presented to the chief guest.
Prime Minister Shehbaz Sharif invited on Friday international investors to explore Pakistan’s mineral potential and establish processing and manufacturing industries in the country.
He was addressing the Pakistan Minerals Investment Forum 2026 in Islamabad.
The prime minister stressed that Pakistan must move beyond exporting raw minerals towards value addition and industrial development. He said his message to international investors was clear: “mine in Pakistan, process in Pakistan, manufacture in Pakistan and then export to the rest of the world”, state-run Radio Pakistan reported.
The prime minister said Pakistan wanted to establish refineries, smelters, cable, and conductor factories and other industries to ensure value addition to its mineral resources.
Referring to the Reko Diq project, PM Shehbaz said one of the largest untapped copper and gold deposits in the world was being developed, with production expected to commence in 2028.
The prime minister appreciated Barrick’s continued confidence in Pakistan and referred to Goldman Sachs’ assessment that Pakistan could become the sixth-largest economy in the world by 2075. However, he expressed confidence that the country can achieve the milestone before 2050.
Regarding facilitating international investors, he said every investor expected a level playing field, transparent rules, quick decision-making, consistency in policies, and strong institutions.
He said the government was simplifying procedures, eliminating red tape, cutting inordinate delays, and ensuring complete transparency in awarding licences and contracts.
He said the National Mineral Data Cell and digitisation of geological records would enable investors to know what lies beneath the ground before making investments.
The prime minister assured that the federal and provincial governments would work in unison to provide investors all necessary support and assistance.
He said the safety and protection of investors’ manpower, valuable assets and supply routes were the paramount responsibility of the government.
PM Shehbaz also invited investors to bring directly to him any files held up due to bureaucratic delays or cumbersome procedures, assuring them that he would personally ensure their movement at lightning speed.
Highlighting Pakistan’s human resource potential, the prime minister said the country’s real wealth was not only in its mountains but also in its young people.
He described Pakistan’s youth as educated, resilient, and brave, with the potential to convert the country’s natural wealth into national progress and prosperity.
The premier urged international investors to establish skilled training centres and vocational institutes, ensure technology transfer, and promote local suppliers.
He said the initiatives would enable Pakistani youth to become skilled professionals, innovators, and entrepreneurs.
The prime minister emphasised that every investment in mining must translate into local jobs, local businesses and opportunities for local contractors, as well as schools, clinics, clean drinking water and a better life for communities.
He said the government would work with provincial governments and investors to ensure that people living nearest to mining sites become the main beneficiaries of these economic activities.
PM Shehbaz further stressed that development and environmental protection must go hand in hand.
He said Pakistan would pursue responsible mining in line with the highest international standards, deploying state-of-the-art technology while protecting water resources, workers’ health and safety and the land itself.
He reiterated that the federal government, provincial governments, and all national institutions would stand firmly with investors at every step.
Renewing his invitation to international investors to visit Pakistan, the prime minister assured them of the country’s hospitality and full support.
NEW YORK: Boston Federal Reserve President Susan Collins said on Friday that tighter monetary policy is coming because of high inflation, in comments that suggested the US central bank may have to raise interest rates more than she initially expected.
“I think it’s clear the direction that monetary policy needs to go and I would think that soon some additional firming, tightening of policy is appropriate,” Collins said in an interview with Bloomberg Television.
Given that recent inflation data has not been particularly friendly and shows signs that rising price pressures are broadening in the economy, Collins said, “I think it may be that a bit of a tighter policy path than I had penciled in a couple of months ago might be appropriate.”
The Fed is widely expected to raise its benchmark interest rate, currently in the 3.75%-4.00% range, at its December 8-9 policy meeting. Traders and investors expect a quarter-percentage-point hike at that meeting, although Fed Governor Christopher Waller earlier this week suggested the possibility of a half-percentage-point move.
Financial markets also expect another Fed rate hike in January.
“I don’t want to get ahead in terms of how high we should go or how fast,” Collins said, adding that her “best-case scenario” is for “a careful adjustment of policy.” She acknowledged, however, that “there are scenarios where I might think about that somewhat differently.”
Collins spoke to Bloomberg Television while attending a housing conference hosted by her regional Fed bank.
In opening remarks for the event, Collins said delivering price stability is key to a healthy housing sector even if tighter monetary policy means some near-term pain for the sector.
She also said in her interview that financial markets appear to be functioning well.
Turkiye and Qatar signed a defence agreement on Friday that President Recep Tayyip Erdogan said would further strengthen ties between the regional allies, his office said.
The announcement came after Erdogan met Qatari Emir Sheikh Tamim bin Hamad Al Thani in Istanbul.
Qatar’s ruler travelled to Istanbul after attending the United Nations COP31 climate summit in southern Turkiye.
“A mutual defence agreement signed by Turkiye and Qatar today will add a new dimension to the brotherly ties between the two countries,” Erdogan said during the meeting, according to a statement from his office.
The statement gave no further details about the contents of the agreement.
Erdogan also said Turkiye and Qatar would expand cooperation in the defence industry.
The two countries would continue working together “to prevent a renewed outbreak of war in the Gulf region and to promote dialogue and peace”, he said.
The leaders also discussed Israel’s attacks on Gaza and the humanitarian situation in the Palestinian territory, efforts towards normalisation in Syria and the latest developments in Libya, the statement added.
In August, Turkiye, Saudi Arabia and Pakistan signed a joint defence agreement in Makkah, bringing together the Sunni Muslim US allies at a time of conflict across the region.
Turkiye’s parliament ratified the Makkah Joint Defence Agreement last week, clearing the way for Ankara to send military support to Saudi Arabia, which has been struggling to fend off attacks by Yemen’s Houthis.
Under the agreement, signed by the three regional powers in August, an attack on one party constitutes an attack on all.
