Business
Pakistan, ADB ink two climate resilience initiatives worth over $300m – SUCH TV
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 agreements include the $180.5 million Sindh Coastal Resilience Sector Project (SCRP) and the Punjab Climate Resilient and Low Carbon Agriculture Mechanisation Project, valued at $124 million.
Speaking at the signing ceremony in Islamabad, Secretary Ministry of Economic Affairs Muhammad Humair Karim appreciated ADB’s continued support, describing it as a trusted development partner in Pakistan’s efforts to advance climate resilience, sustainable agriculture and inclusive growth.
He said the Sindh Coastal Resilience Project would promote integrated water resources and flood risk management, restore nature-based coastal defences, and strengthen institutional and community capacity for strategic planning.
The project will be financed through $140.5 million from ADB, including a $140 million loan and $0.5 million technical assistance grant, $40 million from the Green Climate Fund, and $20 million in counterpart funding from the Sindh government. It is expected to directly benefit more than 3.8 million people in Thatta, Sujawal and Badin districts.
Karim said the Punjab Climate Resilient and Low Carbon Agriculture Mechanisation Project would enhance agricultural productivity and climate resilience across 30 districts of Punjab. The project, with a total outlay of $129 million, will be financed through a $120 million ADB loan, a $4 million ADB grant, and $5 million in counterpart funding from the Punjab government.
Under the project, small farmers will gain improved access to climate-smart machinery, circular agriculture practices will be introduced to reduce crop residue burning, testing and training facilities will be established, and 15,000 women will be empowered through skills development and livelihood diversification.
The secretary said both initiatives were transformative, noting that the Sindh project would safeguard livelihoods, food security and biodiversity along the province’s vulnerable coastal belt, while the Punjab project would drive sustainable, low-carbon agricultural growth and inclusive development.
ADB Country Director Emma Fan welcomed Pakistan’s commitment, highlighting the importance of the Sindh project in addressing climate-induced risks and protecting coastal communities, and describing the Punjab mechanisation initiative as a key step toward modernising agriculture and reducing emissions.
Both sides reaffirmed their commitment to ensure the effective use of financing and the timely completion of the two projects.
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According to the government, India’s GDP is projected to reach USD 7.3 trillion by the end of the decade.
India also continues to be the fastest-growing major economy globally.
India has overtaken Japan to become the world’s fourth-largest economy, with a gross domestic product (GDP) of USD 4.18 trillion and is on track to surpass Germany to claim the third position by 2030, the government said in a release on economic reforms.
According to the government, India’s GDP is projected to reach USD 7.3 trillion by the end of the decade, which would place it behind only the United States and China among the world’s largest economies.
India also continues to be the fastest-growing major economy globally. Real GDP expanded by 8.2 per cent in the second quarter of the 2025–26 fiscal year, accelerating from 7.8 per cent in the first quarter and 7.4 per cent in the final quarter of the previous fiscal. The government said this marked a six-quarter high, reflecting the economy’s resilience amid ongoing global trade uncertainties.
The release said domestic factors, particularly strong private consumption, were the main drivers of growth. It added that international agencies had echoed optimism about India’s outlook. The World Bank projected growth of 6.5 per cent in 2026, while Moody’s expects India to remain the fastest-growing G20 economy, with growth of 6.4 per cent in 2026 and 6.5 per cent in 2027.
The International Monetary Fund raised its projections to 6.6 per cent for 2025 and 6.2 per cent for 2026, while the OECD forecasts growth of 6.7 per cent in 2025 and 6.2 per cent in 2026. S&P projected growth of 6.5 per cent in the current fiscal and 6.7 per cent in the next, and the Asian Development Bank lifted its 2025 forecast to 7.2 per cent. Fitch has raised its FY26 projection to 7.4 per cent, citing stronger consumer demand.
The government said inflation remains below the lower tolerance threshold, unemployment is declining and export performance is improving. Financial conditions have stayed supportive, with strong credit flows to the commercial sector and firm demand, aided by strengthening urban consumption.
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Delhi, India, India
December 30, 2025, 22:23 IST
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The State Bank of Pakistan (SBP) on Tuesday announced a bank holiday across the country on January 1, 2026.
In a statement, the central bank said that all banks and financial institutions will remain closed for public dealings on the first day of the new year.
The development finance institutions (DFIs) and micro finance banks (MFBs) will also remain shut on January 1.
However, the SBP clarified that all employees of the banks, DFIs and MFBs will attend their offices as usual on the bank holiday.
The bank holiday allows commercial banks to complete year-end processes and ensure a smooth transition into the new financial year.
Business
Vande Bharat sleeper clocks 180 kmph! Ashwini Vaishnaw shares video of train’s ‘water test’; watch – The Times of India
Vande Bharat sleeper train launch soon! Railway Minister Ashwini Vaishnaw on Tuesday shared an important update on the Vande Bharat sleeper train, posting a video on X (formerly Twitter) of the train’s speed trial. The new train touched 180 kmph speeds – its maximum- during trial runs between the Kota-Nagda section of the Indian Railways network.What caught the attention was the finely balanced glasses of water from which not a drop of spilt despite the train touching its maximum design speed of 180 kmph. “Vande Bharat Sleeper tested today by Commissioner Railway Safety. It ran at 180 kmph between Kota Nagda section. And our own water test demonstrated the technological features of this new generation train,” Ashwini Vaishnaw posted on X.
Vande Bharat Sleeper Clocks 180 Kmph Speed: Watch Video
Vande Bharat sleeper train is set to be launched soon for long-distance overnight travel. As the name suggests, the train is a sleeper class variant of the Vande Bharat chair car train that is currently in service on the Indian Railways network. Two prototype rakes of the all air-conditioned Vande Bharat sleeper train have been manufactured by BEML and are currently in testing phase.Indian Railways is preparing a major overhaul of long-distance rail travel, with plans to introduce more than 200 Vande Bharat sleeper trains over the next few years. Multiple manufacturing programmes are underway to support this initiative.Also Read | Vande Bharat sleeper, Amrit Bharat with AC coaches & more – what will train travel on Indian Railways look like in 2026? BEML, in collaboration with the Integral Coach Factory (ICF), is manufacturing 10 sleeper train sets. Another 10 sets are being developed by Kinet, a joint venture between Indian and Russian partners. In addition, a consortium comprising Titagarh Rail Systems and BHEL has been awarded a contract to build 80 sleeper variants. Separately, ICF is also working on an in-house sleeper version of the Vande Bharat train.
Vande Bharat Sleeper Train Features
- The first two prototypes of the Vande Bharat sleeper have 16 coaches, including 11 air-conditioned three-tier coaches, four air-conditioned two-tier coaches, and one air-conditioned first-class coach.
- Designed as a semi-high-speed service, the train can operate at speeds of up to 160 kmph, with testing conducted at 180 kmph. However, actual operating speeds will depend on track capabilities across the Indian Railways network.
- Drawing on design elements from European rolling stock, the sleeper coaches will offer cushioned berths for improved comfort, along with redesigned upper-berth access to make climbing easier.
- Passenger amenities include low-intensity night lighting, audio announcements supported by visual display systems, CCTV surveillance, and modular pantry arrangements.
- The train will be fitted with advanced bio-vacuum toilets similar to those used in aircraft. Facilities will include an accessible toilet for persons with disabilities, a baby care unit, and shower cubicles with hot water in the AC First Class coach.
- Safety systems include the indigenous KAVACH anti-collision technology. Like the chair car version, the sleeper variant will also feature regenerative braking to enhance energy efficiency.
- Coaches are equipped with fully sealed gangways and automatic interconnecting doors, helping maintain interior air quality and stable temperature levels.
- Each coach offers individual reading lamps, charging sockets, foldable refreshment tables, and interiors finished with GFRP panels. Train doors will open automatically at designated stations.
- A Centralised Coach Monitoring System has been installed, along with emergency communication facilities that allow passengers to directly contact the locomotive driver.
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