Business
SBP to hold rate as floods fuel inflation | The Express Tribune
KARACHI:
Pakistan’s central bank is expected to keep its key rate steady on Monday, a Reuters poll showed, as floods that ravaged farmland and threaten fresh food inflation prompt policymakers to extend their pause on monetary easing.
Thirteen of 14 analysts surveyed forecast the State Bank of Pakistan (SBP) will hold its policy rate at 11%, while one projected a 50 basis-point cut.
Since late June, floods have swamped Punjab’s farmland, disrupting supply chains and stoking inflation fears, with nearly 950 people killed, 6,500 livestock lost, 8,200 houses destroyed and 4.5 million displaced as waters move south.
“Given the uncertainty, we expect the central bank may pause in September, though our base case allows for a 50100 bps cut by year-end,” said Waqas Ghani, Head of Research at JS Global Capital.
Analysts flag GDP hit, food price shocks
Sana Tawfik, Head of Research at Arif Habib Limited, said agricultural losses could shave around 0.2% off gross domestic product (GDP) growth, though reconstruction may provide some offset.
Analysts said flood-driven supply shocks, especially in wheat, rice and vegetables, could keep inflation above the central bank’s 57% target.
Saad Hanif of Ismail Iqbal Securities said food inflation could face “temporary shocks”, with wheat prices up about 50% in a month.
Inflation eased to 3% in August from 4.1% in July, but the finance ministry, which projected 4% to 5%, warned crop losses and extreme weather could soon push prices higher.
“Manufacturers have also raised selling prices, citing higher fuel and transport costs and delays in input deliveries caused by flooding,” said Ahmad Mobeen, Senior Economist at S&P Global Market Intelligence.
The SBP has cut rates by 1,100 basis points since June 2024, when they stood at a record 22% after inflation peaked near 40% in 2023. It last cut rates by 100 bps in May, after a March pause, and held steady in June amid oil price pressures from Middle East tensions.
Still, some see room for cuts
“Real interest rates are still high enough to allow for a cut, especially with the Fed turning dovish, but the floods are inflationary, particularly for food,” said Ammar Habib, an independent analyst.
ADB warns to insure against floods
Meanwhile, an Asian Development Bank (ADB) expert urged Pakistan, and other countries in Asia and the Pacific, to integrate insurance into urban planning to limit flood losses and speed recovery.
Arup Kumar Chatterjee, Principal Financial Sector Specialist at ADB, said on Friday that cities like Lahore in Pakistan and Gurugram, India, face severe flooding risks but remain financially exposed due to poor planning. Streets turn into rivers and homes into ruins, leaving cities in financial peril. “These issues are not random; they are the result of poor planning,” he noted.
“In 2023, natural hazards in Asia and the Pacific caused $65 billion in losses, with 91% of that amount uninsured. In 2024, global insured losses reached $135 billion, showing a huge protection gap of nearly 90%,” wrote Chatterjee.
The ADB official pointed out that ancient cities managed risks better. Mohenjo-Daro in Pakistan and the aqueducts in Rome were designed to withstand floods.
“Today’s approach to disaster management has changed. Governments often focus more on post-disaster relief than on flood prevention. This often leads to different government departments working in isolation and ignoring risk management,” he said.
The cost of neglecting insurance is clear. He pointed out that Bangkok’s 2011 floods caused $47 billion in damage, with only a third insured. Chennai’s 2015 floods brought $3.5 billion in losses, with just 34% covered. Recent storms in Dubai also exposed major gaps.
In contrast, cities that adopt insurance fare better. During Valencia’s 2024 floods, a third of $10 billion in damages was insured. Auckland’s 2023 floods had 40% coverage, allowing 112,000 claims to be processed quickly.
“We have the tools to manage flood risks better, including satellite technology and real-time data analysis. If we can predict floods, we should also be able to finance protection in advance,” stressed Chatterjee.
He urged that insurance be treated as infrastructure. Quick payouts based on rainfall data can help communities recover faster. He urged Pakistan and other governments to make coverage accessible, including for renters and low-income families.
“No major project should proceed without a risk financing plan,” he said, adding that, “Floods are inevitable; the question is whether we can respond quickly enough to prevent despair. Every uninsured project is a risk to taxpayers, costing them in both money and stress. Cities need to embrace insurance as a foundational element of their planning, not as an afterthought.”
The cost of being unprepared, he warned, far outweighs the cost of insurance.
REUTERS WITH ADDITIONAL INPUT FROM OUR CORRESPONDENT
Last Updated:
National Startup Day highlights India’s thriving startup ecosystem, celebrating innovation, entrepreneurship and job creation driven by founders, unicorns and Startup India mission
National Startup Day 2026 honours Indian startups, entrepreneurs and innovators driving economic growth and job creation.
National Startup Day 2026: India’s startup ecosystem has evolved into one of the world’s most vibrant and promising innovation hubs. To recognise the contribution of entrepreneurs, founders and startups transforming ideas into impactful solutions, National Startup Day is observed every year on January 16 across the country.
Launched by Prime Minister Narendra Modi in 2022, the day celebrates visionary entrepreneurs who play a crucial role in economic growth, employment generation and technological advancement.
National Startup Day serves as a reminder that innovation, backed by determination and policy support, can reshape society and create global impact.
National Startup Day 2026 Theme
The official theme for National Startup Day 2026 is yet to be announced. However, the core focus areas are expected to revolve around:
- Innovation and emerging technologies
- Entrepreneurship and leadership
- Self-reliance (Atmanirbhar Bharat)
- Startup India Mission
- Youth empowerment
- Job creation
How Startups Are Shaping India’s Future
India currently ranks as the third-largest startup ecosystem globally, with over 1.59 lakh startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) as of early 2025. Backed by 100+ unicorns, the ecosystem continues to grow rapidly.
Metro cities such as Bengaluru, Hyderabad, Mumbai and Delhi-NCR lead this expansion, while Tier-2 and Tier-3 cities are emerging as new innovation centres, adding diversity and scale to India’s entrepreneurial journey.
Startups across fintech, edtech, health-tech, e-commerce and deep-tech are addressing real-world challenges and gaining global recognition. Technologies like artificial intelligence, blockchain and IoT are increasingly driving innovation, according to Startup India ecosystem reports.
Industry-Wise Startup Impact
DPIIT-recognised startups have generated over 16.6 lakh direct jobs across sectors as of October 31, 2024, strengthening India’s employment landscape.
- IT Services: 2.04 lakh jobs
- Healthcare & Life Sciences: 1.47 lakh jobs
- Commercial & Professional Services: 94,000 jobs
Through the Startup India initiative, the government continues to focus on skill development, funding access, ecosystem collaboration and global outreach.
Key Initiatives Under Startup India
- Capacity building and mentorship
- Outreach and awareness programmes
- Ecosystem development events
- International exposure and global linkages
- Collaboration between startups, corporates and institutions.
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January 16, 2026, 07:00 IST
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The government on Thursday kept petrol and high-speed diesel (HSD) prices unchanged at Rs253.17 per litre and Rs257.08 per litre respectively, for the coming fortnight, starting from January 16.
This decision was notified in a press release issued by the Petroleum Division.
Earlier, it was expected that the prices of all petroleum products would go down by up to Rs4.50 per litre (over 1pc each) today in view of variation in the international market.
Petrol is primarily used in private transport, small vehicles, rickshaws, and two-wheelers, and directly impacts the budgets of the middle and lower-middle classes.
Meanwhile, most of the transport sector runs on HSD. Its price is considered inflationary, as it is mostly used in heavy transport vehicles, trains, and agricultural engines such as trucks, buses, tractors, tube wells, and threshers, and particularly adds to the prices of vegetables and other eatables.
The government is currently charging about Rs100 per litre on petrol and about Rs97 per litre on diesel.
Business
Gold price today: How much 22K, 24K gold cost in Delhi, Patna & other cities – Check rates – The Times of India
Gold prices climbed to a fresh lifetime high in the domestic market on Thursday amid sustained buying by jewellers and stockists, according to the All India Sarafa Association.Gold advanced by Rs 800 to hit a new peak of Rs 1,47,300 per 10 grams (inclusive of all taxes), extending gains for the fifth consecutive session. The yellow metal had closed at Rs 1,46,500 per 10 grams in the previous session.Since the start of 2026, gold prices have surged Rs 9,600, or around 7 per cent, supported by persistent demand in the physical market. In overseas trade, spot gold slipped USD 12.22, or 0.26 per cent, to USD 4,614.45 per ounce, after having touched a record high of USD 4,643.06 per ounce in the previous session.Here is how much gold costs in major Indian cities today:
Gold price in Delhi today
The price of 22K gold in Delhi is Rs 13,140 per gram, down Rs 75, while 24K gold is priced at Rs 14,333 per gram, lower by Rs 82.
Gold price in Chennai today
In Chennai, 22K gold costs Rs 13,290 per gram, up Rs 10, while 24K gold is priced at Rs 14,498 per gram, higher by Rs 10.
Gold price in Mumbai today
Mumbai markets see 22K gold priced at Rs 13,125 per gram, down Rs 75, while 24K gold stands at Rs 14,318 per gram, lower by Rs 82.
Gold price in Ahmedabad today
In Ahmedabad, 22K gold is priced at Rs 13,130 per gram, down Rs 75, while 24K gold costs Rs 14,323 per gram, lower by Rs 82.
Gold price in Kolkata today
Kolkata markets price 22K gold at Rs 13,125 per gram, down Rs 75, while 24K gold stands at Rs 14,318 per gram, lower by Rs 82.
Gold price in Jaipur today
In Jaipur, 22K gold costs Rs 13,140 per gram, down Rs 75, while 24K gold is priced at Rs 14,333 per gram, lower by Rs 82.
Gold price in Hyderabad today
Hyderabad sees 22K gold at Rs 13,125 per gram, down Rs 75, while 24K gold is priced at Rs 14,318 per gram, lower by Rs 82.
Gold price in Bhubaneswar today
Bhubaneswar markets see 22K gold priced at Rs 13,125 per gram, down Rs 75, while 24K gold costs Rs 14,318 per gram, lower by Rs 82.
Gold price in Patna today
In Patna, 22K gold costs Rs 13,130 per gram, down Rs 75, while 24K gold is priced at Rs 14,323 per gram, lower by Rs 82.
Gold price in Lucknow today
Lucknow markets see 22K gold priced at Rs 13,140 per gram, down Rs 75, while 24K gold costs Rs 14,333 per gram, lower by Rs 82.
National Startup Day 2026: How India’s Startups Are Shaping The Future
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