In the face of chronic energy shortages, economic constraints, and the urgent need for sustainable development, Pakistan has begun turning to the sun as a reliable ally. Solar energy, once viewed as a niche or expensive alternative, is now emerging as a transformative force in the country’s energy landscape. The Energy Crisis and the Solar Solution Pakistan’s energy sector has long struggled with shortfalls. Rolling blackouts, known locally as load-shedding, have plagued industries and households alike. These disruptions are rooted in a reliance on imported fossil fuels, outdated infrastructure, and poor grid management. Enter solar energy — an abundant, clean,…
Author: PAGE
Climate change is no longer a distant threat; it is a present-day crisis with far-reaching consequences. For countries like Pakistan, the reality of a changing climate is already deeply woven into the fabric of everyday life. From devastating floods to extreme heatwaves, Pakistan stands among the nations most vulnerable to the environmental, economic, and social impacts of global climate change. The Geography of Vulnerability Pakistan’s geographic and socio-economic conditions make it especially susceptible to climate-related risks. With a population exceeding 240 million, much of it dependent on agriculture and natural resources, Pakistan’s economy is intricately tied to environmental stability. The…
by Katharina Buchholz According to a report recently released by the International Renewable Energy Agency, more than 16 million people globally work in the renewable energy industry. Around 7 million of those employees work for companies engaged in solar photovoltaics, the conversion of solar power to electricity. Solar industries have the strongest showing in the statistic, with another 680,000 people employed in solar power directly converted to heating or cooling. This is followed by bioenergy, including liquid biofuels, solid biomass and biogas, with around 3.6 million employees. Hydropower, the biggest renewable energy creator around the world, was operating with fewer employees, around 2.3 million. Since…
by Felix Richter To commemorate the 100th anniversary of the first international football tournament with representation of all regions, which took place on May 25, 1924, the UN General Assembly has declared May 25 World Football Day. The resolution, passed on May 7, 2024, acknowledges “the global reach of football and its impact in various spheres, including commerce, peace and diplomacy and recognizing that football creates a space for cooperation.” The day underscores football’s unique role as a globally beloved game and its potential to contribute positively to development and humanitarian goals worldwide. Often referred to as “the global game”, football (i.e.…
by Katharina Buchholz The Covid-19 pandemic saw international enrollment at U.S. higher education institutions dip majorly, but the number of international students has recovered since then – aided by a bigger influx from India. The first year above pre-pandemic levels, the Open Doors Report on International Education Exchange counted 1.13 million international students in the country in the past school year. This represents an increase of 7 percent over 2022/23 and 18 percent over 2020/21. International students make up 5.9 percent of the total U.S. student population, up from 5.6 percent one year prior. They contributed around $50 billion to the American economy in 2023. India…
by Anna Fleck U.S. President Donald Trump’s four-day trip to the Middle East last week included visits to Saudi Arabia, Qatar and the United Arab Emirates. The tour marked his first planned trip abroad of his second term in office, and is considered by analysts to reflect a shift in the United States’ approach to the region. For one, Trump notably did not meet with Israeli Prime Minister Benjamin Netanyahu, which Al Jazeera writes is a “reflection of the deteriorating ties” between the two governments. While in Riyadh, Trump also announced that the U.S. would be lifting sanctions on Syria. During the trip,…
Alibaba.com, a leading platform for global business-to-business (B2B) e-commerce, today announced the launch of its comprehensive suite of online logistics services tailored to assist Pakistani exporters in optimizing their international trade processes. Amid the explosive growth of cross-border e-commerce, small and medium-sized enterprises (SMEs) in Pakistan are presented with new opportunities to participate in global trade. However, they also face significant challenges, particularly in optimizing their export processes. Logistics has been identified as a major obstacle, as businesses must find effective and reliable shipping solutions to ensure timely deliveries while minimizing costs and risks. Recognizing this, Alibaba.com has partnered with…
Govt Assigns Acting Charge of NITB CEO to Faisal Iqbal Ratyal: The Federal Government has assigned the acting charge of Chief Executive Officer (CEO) of the National Information Technology Board (NITB) to Faisal Iqbal Ratyal, Director General (Telecom) at the Ministry of Information Technology and Telecommunication, for a period of three months.According to an official notification, the decision was made in line with the resolution passed by the NITB Board of Directors during its 9th meeting held on May 6, 2025. The appointment has been made under the National Information Technology Board (Appointment, Powers and Functions of Chief Executive Officer)…
UBL and Shahzad Trade Link to promote mechanization of agriculture farms UBL and Shahzad Trade Link (STL) have signed an agreement to promote the mechanization of agriculture farms in Pakistan. Both entities have agreed to ensure the availability of Belarus Tractors to the farmers through subsidized financing rate and quick delivery. The agreement focuses on joint sales promotion to encourage small and medium sized land holders to adopt farm mechanization solutions. Under the Farm Mechanization scheme, UBL and STL will collaborate to provide direct agricultural loans at flat markup rate of 9.5%, with repayment spread over five years’ tenure. The…
Kibor rate is the average interest rate at which term deposits are offered between prime banks in the Pakistani wholesale money market or interbank market. KIBOR as a benchmark, to encourage transparency and improve management of the market risk undertaken by banks. Kibor Rates In Pakistan TENOR BID OFFER 1 – Week 10.93 11.43 2 – Week 10.93 11.43 1 – Month 10.95 11.45 3 – Month 11.11 11.36 6 – Month 11.13 11.38 9 – Month 11.13 11.63 1 – Year 11.12 11.62 Last Updated on 26th May 2025 Source: SBP
The Chairman of National Business Group Pakistan, the President of the Pakistan Businessmen and Intellectuals Forum, the President of All Karachi Industrial Alliance, the Chairman of the FPCCI Advisory Board, and the President and former provincial minister, Mian Zahid Hussain, said on Wednesday that the Government’s recent decision to promote General Syed Asim Munir to the rank of Field Marshal and to extend the tenure of Air Chief Marshal Zaheer Babar Sidhu are highly commendable moves. He said that it serves as a great gift from the people of Pakistan to their victorious armed forces and will significantly boost the…
Published in The News on May 16th, 2025, By AFP China announced on Thursday its commitment to “expand practical cooperation” with the Russian military following President Xi Jinping’s recent visit to Moscow for a grand World War Two Victory Day parade. The strengthening of ties between the two nations comes amid increasing global scrutiny, especially after Russia’s full-scale invasion of Ukraine in 2022. Xi’s trip has drawn criticism from Kyiv’s allies, who accuse Beijing of providing economic and political support to Moscow’s aggression. While the Chinese government maintains it is a neutral party in the conflict, it has emphasised ongoing efforts…
Published in AlJazeera on May 15th, 2025 On a regional visit to Gulf countries, the US president signals progress on nuclear talks with Tehran. United States President Donald Trump has claimed Washington is nearing an agreement with Iran to resolve a long-running nuclear dispute, despite ongoing diplomatic hurdles. “We’re in very serious negotiations with Iran for long-term peace,” Trump said in Qatar during the second leg of his Gulf tour on Thursday, before heading to the United Arab Emirates. end of list “We’re not going to be making any nuclear dust in Iran,” he said. “I think we’re getting close to…
Published in Saudi Gazette on May 16th, 2025 ANKARA — Ukrainian President Volodymyr Zelensky will first meet with his Turkish counterpart Recep Tayyip Erdogan, and only then consider any next steps regarding the talks between Ukraine and Russia later on Thursday, according to reports. Upon his arrival in Ankara, Zelensky said Ukraine is represented in Turkey at the highest level, with the foreign ministry, the presidential office, the military, and the intelligence “to make any decisions that might lead to the expected and just peace.” But that is not the case for the Russian delegation, he said, describing it as…
Published in AlJazeera on May 15th, 2025 Islamabad hits back after Indian defence minister says Pakistan’s nuclear arsenal should be under UN surveillance. India and Pakistan have traded accusations of nuclear weapons mismanagement, days after reaching a truce following four days of cross-border fighting. India’s Defence Minister Rajnath Singh questioned the safety of nuclear weapons in Pakistan on Thursday at an army base in Srinagar, in Indian-administered Kashmir, calling the neighbouring country an “irresponsible and rogue nation”. end of list “I believe that Pakistan’s nuclear weapons should be taken under the supervision of IAEA (International Atomic Energy Agency),” Singh said. In response…
Published in Reuters on May 15th, 2025, By Ben Blanchard KAOHSIUNG, Taiwan, May 16 (Reuters) – Taiwan President Lai Ching-te offered his support and encouragement to the armed forces on Friday ahead of what the government has warned could be a new round of Chinese military exercises near the island from as early as next week. Taiwan cannot rule out that China will hold more military drills to “stir up trouble” around Tuesday’s one-year anniversary of Lai taking office, a senior government spokesperson said on Thursday in Taipei. China calls Lai a “separatist” and has rebuffed his multiple offers for talks. Lai rejects…
Published in AlJazeera on May 14th, 2025, Qatari prime minister states that the UN should be allowed to resume aid distribution inside Gaza. Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani has said that a series of recent Israeli attacks on Gaza show that Israel is not interested in ending the war. In an interview with the US news outlet CNN on Wednesday, Al Thani said that he had hoped that the release of a US-Israeli soldier named Edan Alexander from captivity in Gaza would be a “breakthrough that will help bring back the talks on track” but that Israel had instead opted…
Published in AlJazeera on May 14th, 2025 US president urges Syria’s interim president to establish ties with Israel, says US will drop ‘all sanctions’ on Damascus. United States President Donald Trump says Washington is considering the normalisation of ties with Damascus after he met Syria’s interim President Ahmed al-Sharaa in the first such encounter between the two nations’ leaders in 25 years. Trump made the announcement on Wednesday at a meeting with Gulf Cooperation Council (GCC) leaders in Saudi Arabia’s capital, Riyadh, during which he also said the US will drop “all sanctions” against Syria. end of list “With the support…
Published in Dawn News on May 16th, 2025, Reuters ISTANBUL: Russia’s Vladimir Putin spurned a challenge to meet face-to-face with Volodymyr Zelensky in Turkiye on Thursday, instead sending a second-tier delegation to planned peace talks, while Ukraine’s president said his defence minister would head up Kyiv’s team. They will be the first direct talks between the sides since March 2022, but hopes of a major breakthrough were further dented by US President Donald Trump who said there would be no movement without a meeting between himself and Putin. Zelensky said Putin’s decision not to attend but to send what he called…
by Felix Richter, As buying a home is becoming more and more unattainable, a car is very high up on the list of the biggest purchases many Americans will ever make. Given that fact, a lot of consideration is put into choosing the right one. But which characteristics do potential buyers in the United States value most? According to data from Statista Consumer Insights, tied at the top of the checklist are fuel efficiency and safety. With 53 percent of respondents who plan to buy a new or used car in the next 12 months, picking these two characteristics as “especially important”, they outpunch…
by Anna Fleck, India has suspended the Indus Waters Treaty with Pakistan, a major water-sharing agreement brokered by the World Bank. The move came on April 23, within a day of a deadly shooting in Pahalgam, in the Indian-administered part of Kashmir, marking the first time the treaty has been paused since the pact’s inception in 1960. In response, Pakistan stated that an attempt to stop the flow of water would be considered an “act of war”. Tensions mounted between the two nuclear-armed nations in the following weeks, breaking out into four days of fighting, before quelling again with a ceasefire mediated by…
by Katharina Buchholz Global electric car sales almost tripled over the past three years. They had previously doubled between 2020 and 2021, driven by registrations in China. Registrations of new electric vehicles reached 17.3 million last year, compared to just 6.5 million in 2021. That’s according to EV-volumes data cited by the International Energy Agency. China continues to lead the growth in the electric car industry, with sales rising by more than 250 percent since 2021. Europe remains the second largest market for electric cars, with new registrations increasing by almost 40 percent in the past three years. In the United States, sales reached 1.5 million for the…
by Anna Fleck, India and Pakistan, currently experiencing a ceasefire after clashes along their disputed border, have caught global attention as the two neighbors are both armed with nuclear weapons. According to data from the Stockholm International Peace Research Institute (SIPRI), each nation owns around 170 nuclear warheads. As the following chart shows, India has added 8 nuclear warheads to its arsenal since January 2023, increasing from 164 warheads to 172. North Korea and China also expanded their arsenals in this time period, bringing their total figures to an estimated 50 warheads and 500 warheads, respectively. Currently, there are estimated to be…
by Katharina Buchholz Asians work from home the least in a global comparison, while college-educated workers from English-speaking countries and Africa do so more frequently. These are the results from a new survey by the Ifo Institute and Stanford University. While all Asians respondents only worked an average of approximately 1.1 days a week from home, this was around 1.2 days in Europe, 1.25 in Latin America, 1.4 days in Africa and 1.6 days in English-speaking countries. Women tend to work from home more than men – except for in Europe -, tied to mothers expressing a high desire to work remotely in…
by Felix Richter, VE Day, or Victory in Europe Day, is celebrated on May 8 each year to mark the formal end of World War II in Europe. On this day in 1945, Allied forces accepted the unconditional surrender of Nazi Germany, bringing nearly six years of brutal conflict in Europe to a close. The day is commemorated to honor the courage and sacrifice of those who fought and died during the war, and to celebrate the return of peace to the continent. Today, on the 80th anniversary of VE Day, that peace suddenly seems fragile, as Russia’s invasion of Ukraine…
by Katharina Buchholz, Cloud computing has changed the status of network hardware like servers and data storage from a common asset of organizations or companies to a type of infrastructure. With this wide-reaching change come many implications, not least which enterprise owns and operates this infrastructure and which country they are from. American and Chinese firms dominate the cloud computing and data center space, raising questions around data security and independence for third countries, many of which host data centers from American and Chinese companies and store their data and applications there. Major players include Amazon, Google and Microsoft from…
Saudi market cap surges 463pc The market capitalisation of Saudi Stock Exchange (Tadawul) has surged by 463 percent over the last ten years to reach $2.7 trillion at the end of 2024, making it the largest equity market in the Middle East, according to S&P. The significant growth has been driven by the kingdom’s drive to boost market liquidity by getting local companies listed, with the 91 initial public offerings (IPOs) between 2014 and 2024 raising an aggregate of around $65 billion. With the flurry of listings, the number of issuers on Tadawul’s main market jumped to 247 in 2024…
Hiring in UAE and Saudi Arabia rises sharply The pace of hiring in the UAE and Saudi Arabia rose sharply in April after business activity in their non-oil private sector economies maintained strong growth amid the continued push for diversification. The headline S&P Global UAE purchasing managers’ index remained unchanged at 54 in April, remaining well above the 50-point mark that separates economic expansion from contraction. Staff numbers across the Arab world’s second-largest economy rose at the sharpest rate in 11 months, after a relatively subdued period of job creation since the final quarter of last year. Businesses surveyed attributed…
SECP orders security initiatives The Securities and Exchange Commission of Pakistan (SECP) has convened an emergency meeting to assess the situation in the wake of geopolitical tension in the region. In order to preserve market stability and investor confidence at this time, the SECP reaffirms its commitment to ensure continuity in capital market operations, said a press release issued here on Wednesday. The Capital Market Infrastructure Institutions (CMIIs), including the Pakistan Stock Exchange, National Clearing Company of Pakistan and Central Depository Company, also participated in the meeting. They assured that robust and efficient risk management measures are in place to…
IT Minister Rules Out Any Delay in Starlink Launch in Pakistan: Federal Information Technology Minister Shaza Fatima clarified on Friday that there is no delay in the licensing of Starlink in Pakistan and dismissed all speculation about it. Speaking informally with media persons, she said a consultant has been appointed by the Pakistan Space Activities Regulatory Board to formulate rules for Low Earth Orbit (LEO) satellites. There is a completion deadline set for June for completing the rule book, the minister added. Shaza said Starlink is expected to take five to six months to establish its infrastructure in Pakistan and…
NFL supports critical conversations at Pakistan Conference 2025 at Harvard “Striving to become a knowledge-based economy should be a priority for Pakistan but it requires more than just investment, it demands a shift in mindset, and a commitment to innovation.” Mr. Abrar Hasan, Global CEO of NFL, stated this at the Pakistan Conference 2025 at Harvard in Cambridge, USA. Mr. Abrar emphasized that this transformation is not easy but embracing this change will be key to driving sustainable growth and global competitiveness. He said that NFL has witnessed firsthand how strategic planning and innovation drive industry growth. “These strategic initiatives…
Kibor rate is the average interest rate at which term deposits are offered between prime banks in the Pakistani wholesale money market or interbank market. KIBOR as a benchmark, to encourage transparency and improve management of the market risk undertaken by banks. Kibor Rates In Pakistan TENOR BID OFFER 1 – Week 10.97 11.47 2 – Week 10.97 11.47 1 – Month 10.99 11.49 3 – Month 11.17 11.42 6 – Month 11.19 11.44 9 – Month 11.19 11.69 1 – Year 11.18 11.68 Last Updated on 12th May 2025 Source: SBP
The Chairman of National Business Group Pakistan, the President of the Pakistan Businessmen and Intellectuals Forum, the President of All Karachi Industrial Alliance, the Chairman of the FPCCI Advisory Board, and the President and former provincial minister, Mian Zahid Hussain, said on Monday that comprehensive tax reforms are indispensable to reposition Pakistan’s economy on a sustainable footing. He said that excessive strictness in collecting taxes will harm instead of benefit, as it will discourage businesses. Mian Zahid Hussain said that a large number of taxes is making the system more complex, while the focus of tax policy should not be…
In recent decades, Pakistan has witnessed a transformative shift in its higher education landscape, particularly in the field of business studies. Once a niche pursued by a select few, business education has emerged as a mainstream choice for thousands of students each year. The evolution of business schools in Pakistan reflects both the changing demands of the local economy and the growing ambition of its youth to compete in a globalized world. A Growing Demand for Business Education With the expansion of Pakistan’s service sector, the demand for professionally trained managers, entrepreneurs, and analysts has surged. Business schools have responded…
Introduction The cement industry is a cornerstone of Pakistan’s industrial sector and plays a critical role in supporting infrastructure development, urbanization, and economic growth. Despite volatility in economic conditions and global supply chains, the sector continues to adapt through innovation and resilience. Historical Background Pakistan’s cement industry dates back to the early post-independence era. The first cement plant was established in 1951 by the Pakistan Industrial Development Corporation (PIDC) in Hyderabad. Initially state-led, the sector transitioned to privatization in the 1990s, unlocking private investments and leading to modernization across the board. Industry Overview and Major Players As of 2025, Pakistan…
Unemployment in Pakistan remains one of the most pressing socio-economic issues facing the country today. Despite a young and vibrant population, the nation struggles with providing sufficient job opportunities, leading to a complex web of economic and social consequences. The Current Landscape As of recent estimates, the unemployment rate in Pakistan hovers around 6.5%, though unofficial figures suggest it could be significantly higher when accounting for underemployment and the informal sector. With over 60% of the population under the age of 30, Pakistan experiences what is often referred to as a “youth bulge”—a potential demographic dividend that risks turning into…
LearnOBots Launches One of the World’s Largest STEAM Education Programs in Pakistan: LearnOBots, the pioneer and largest STEAM-based education company for schools in Pakistan, in collaboration with the Institute of Space Technology (IST) and the Ministry of Federal Education and Professional Training, has launched of one of the largest Global Rollout of Integrated STEAM across Pakistan’s public school system.This national initiative will empower more than 22,000 students in over 150 government schools with 21st-century skills—including Artificial Intelligence, Robotics, Internet of Things (IoT), Machine Learning, and hands-on STEAM (Science, Technology, Engineering, Arts & Math) education.Guided by the forward-thinking leadership of Mohyuddin…
AL-Ghazi Tractors showcases innovation and engineering excellence at 4th tdap exhibition Al-Ghazi Tractors Ltd (AGTL), a leading name in Pakistan’s agricultural machinery sector, is proudly participating in the 4th Health, Engineering, and Mineral Show (HEMS) organised by the Trade Development Authority of Pakistan (TDAP) at the Lahore Expo Center. Now open to the general public after two days of exclusive access for corporate visitors and international delegates, the exhibition features over 320 companies across Pakistan’s engineering, healthcare, and mineral sectors. AGTL is showcasing its latest innovations in agricultural engineering at a dedicated stall, highlighting its commitment to world-class technology and…
Kibor rate is the average interest rate at which term deposits are offered between prime banks in the Pakistani wholesale money market or interbank market. KIBOR as a benchmark, to encourage transparency and improve management of the market risk undertaken by banks. Kibor Rates In Pakistan TENOR BID OFFER 1 – Week 11.93 12.43 2 – Week 11.89 12.39 1 – Month 11.81 12.31 3 – Month 11.85 12.10 6 – Month 11.84 12.09 9 – Month 11.79 12.29 1 – Year 11.78 12.28 Last Updated on 25th Apr 2025 Source: SBP
DWP Technologies has been honored with the prestigious “Rising Star in Financial Services Industry (FSI)” award during Huawei’s Partner Award Night — a flagship recognition ceremony held as part of the Huawei Global Financial Eco Week 2025 in Shenzhen, China. This global accolade underscores DWP Technologies’ accelerating growth and impact within the financial services sector, marking a key milestone in the company’s journey toward becoming a trusted global technology partner for financial institutions. The award was presented by Huawei’s global leadership, with Mr. Ren Zhengfei, CEO of Huawei Technologies Global, in attendance. His presence emphasized the significance of this award…
Pakistan’s branding landscape is a dynamic blend of tradition and modernity. With a population exceeding 240 million and a rapidly growing middle class, the country offers fertile ground for local and international brands to thrive. From FMCGs to fashion, tech, and food, brands in Pakistan have carved out unique identities that resonate deeply with consumers. 1. The Evolution of Local Powerhouses Pakistani brands have grown from humble beginnings to major players in the national and even global market. Take Khaadi, for instance—what started as a small handwoven fabric outlet is now a fashion and lifestyle empire with stores across the…
The carpet industry in Pakistan stands as a testament to the country’s rich cultural heritage, artisanal craftsmanship, and global trade significance. Once considered a thriving pillar of the economy, the sector continues to play a vital role in exports and rural employment, despite facing challenges from modernization and global competition. A Historical Tapestry Pakistan’s carpet weaving tradition dates back centuries, deeply influenced by Persian, Turkic, and Central Asian designs. During the Mughal era, carpet weaving flourished, with artisans producing intricate masterpieces that adorned palaces and mosques. After independence in 1947, the carpet industry grew rapidly, especially in Punjab and Khyber…
The travel industry is undergoing a technological revolution, with Artificial Intelligence (AI) playing a pivotal role in reshaping the way people plan, book, and experience travel. From personalized recommendations to real-time customer service, AI is enhancing efficiency, boosting customer satisfaction, and creating new opportunities for innovation. Personalized Travel Planning AI algorithms analyze vast amounts of data from users’ past behavior, preferences, and search patterns to provide tailored travel suggestions. Platforms like Google Travel and Expedia use AI to recommend destinations, accommodations, and activities that suit individual tastes, making trip planning faster and more intuitive. Key Examples: Chatbots and Virtual Assistants: Travel…
Indus Motor Company (IMC), in collaboration with the National Aerospace Science & Technology Park (NASTP) and Ashrei Tech, proudly participated as Title Sponsor in Pakistan’s first-ever Reverse Career Expo, held at NASTP Silicon, Karachi. This groundbreaking event reimagined the traditional job fair by placing Persons with Disabilities (PwDs) at the forefront. Instead of employers hosting booths, candidates showcased their skills while engaging in live interviews with recruiters in their personalized booths. HR representatives from over 450 companies participated in the event, marking a significant milestone in inclusive hiring. Ali Asghar Jamali, CEO, Indus Motor Company mentioned that “At Toyota, we…
The Pakistan Kabaddi Federation and Fatima Fertilizer Company Limited proudly announced the commencement of the highly anticipated Sarsabz Baba Guru Nanak International Circle Style Gold Kabaddi Cup 2025. The three-day tournament, from April 16-18, 2025, brings together teams from Pakistan, India, and Iran. A press conference was held in Lahore on Tuesday, marking the beginning of this international sporting event. Team captains Ali Saffari (Iran), Germanjit Singh Ladda Balpur (India), and Kaleem Ullah Jutt (Pakistan), along with representatives from title sponsors, Fatima Fertilizer, were also present, sharing their enthusiasm and commitment to promoting Kabaddi as a sport of unity. Matches…
AlHuda CIBE Honors 29 Distinguished Leaders and Organizations Shaping the Future of Shariah-Compliant Financial Technology at the 2nd Global Islamic FinTech Forum The 2nd Global Islamic FinTech Forum (GIFT 2025), organized by AlHuda Centre of Islamic Banking and Economics (CIBE), concluded with overwhelming success in Dubai, UAE. The landmark event brought together a distinguished community of Islamic finance experts, policymakers, tech disruptors, and Shariah scholars from across the globe. In parallel with the forum, AlHuda CIBE hosted the Global Islamic FinTech Awards 2025, a powerful celebration of excellence, honoring organizations and individuals at the forefront of Shariah-compliant innovation. As the…
The Chairman of National Business Group Pakistan, the President of the Pakistan Businessmen and Intellectuals Forum, the President of All Karachi Industrial Alliance, the Chairman of the FPCCI Advisory Board, and the President and former provincial minister, Mian Zahid Hussain, said on Wednesday that Prime Minister Shahbaz Sharif’s announcement of a welfare package for overseas Pakistanis is genuinely commendable and demonstrates a strong commitment to supporting our citizens abroad. He stated that the purpose of this package is to acknowledge the significance of overseas Pakistanis and address their legal and other issues. It will also offer them job and education…
The implementation of the United Nations’ Sustainable Development Goals (SDGs) in the poverty-hit Tharparkar area has resulted in rapid human development. Amid poverty, water scarcity, and restricted access to essential services, Thar Foundation, the CSR arm of Sindh Engro Coal Mining Company (SECMC), is running several healthcare and education programs to uplift the Thari community. The foundation implements targeted initiatives in education, health, poverty reduction, and access to clean water, aligning with 13 of the 17 UN Sustainable Development Goals (SDGs). According to details, the foundation is operating 28 schools that serve over 5000 students, with 35% being girls while…
Pakistan, a country known for its towering mountains, vast deserts, and fertile plains, also holds within its borders a rich diversity of forests. Though forests cover only about 5% of Pakistan’s total land area, they play a crucial role in maintaining ecological balance, supporting livelihoods, and combating climate change. From the majestic pine forests of the north to the mangroves lining the Arabian Sea, Pakistan’s forests are as diverse as its landscapes. Types of Forests in Pakistan Pakistan hosts several types of forests, each with unique ecosystems and biodiversity: Coniferous Forests: Found in the mountainous regions of Khyber Pakhtunkhwa (KPK), Gilgit-Baltistan,…
Since its inception in 2016, the Pakistan Super League (PSL) has grown from a bold cricketing experiment into a full-blown national spectacle. What started as a franchise-based T20 league has now become one of the most anticipated sporting events in the country, rivaling international tournaments in both energy and popularity. Beyond cricket, the PSL has become a cultural force—reviving stadiums, reuniting fans, and redefining how Pakistanis celebrate sport. A League is Born: The Beginning of Something Big In early 2016, when the first PSL season was held in the UAE, there were doubts: Could Pakistan really pull off a franchise…
by Anna Fleck, Even before the economic uncertainty ushered in this past week by U.S. President Donald Trump’s widespread tariffs, many people were already nervous about their financial futures. Data from a Statista Consumer Insights survey shows that four in ten respondents in Canada and Mexico voiced concerns on the topic last year. In the United States, a similar 37 percent of respondents said the same, while in India and China the share of respondents worried about their financial futures was lower, at 27 and 13 percent, respectively. You will find more infographics at Statista
by Felix Richter Inflation in the U.S. moderated more than expected in March, as both headline inflation and the core index excluding more volatile food and energy prices fell to their lowest levels since early 2021. According to data published by the Bureau of Labor Statistics on Thursday, the Consumer Price Index for All Urban Consumers (CPI-U) increased 2.4 percent over the last 12 months before seasonal adjustment, a significant deceleration from 3.0 and 2.8 percent in January and February, respectively. The core index fell to 2.8 percent in March, the first time it dropped below 3 percent since March 2021. While the…
by Katharina Buchholz In 2020, there were five U.S. entries among the cities with the biggest consumer spending in the world. By 2040, this will have risen to six with the addition of Dallas, a release by World Data Lab shows. At the same time, the other regions in the top 10 have been diversifying, with Japan losing ground and China gaining some, the numbers show. Beyond the top 10, the U.S. has seen another city rising in the ranking. Houston is projected to climb to rank 12 in 2040, up from rank 14 in 2000. Washington D.C., Phoenix and Seattle are also among…
by Anna Fleck Global electricity demand from data centers is expected to more than double in the next five years, largely driven by the widespread uptake of AI. This is according to a report by the International Energy Agency (IEA), released on Thursday. By the end of the decade, around half of the global energy demand for data centers is expected to come from renewables, including solar PV, wind and hydro. Combined, renewables are the fastest-growing source of electricity for data centers. The next most important energy supply in 2030 will be natural gas and coal, while the role of nuclear power is also expected…
by Felix Richter As part of the retaliation against Donald Trump’s punitive tariffs on Chinese goods, China has imposed new export controls on seven additional rare earth elements, temporarily suspending any exports of the valuable minerals. The newly affected elements, namely samarium, gadolinium, terbium, dysprosium, lutetium, scandium and yttrium, are critical components of a wide range of products, ranging from electric cars and semiconductors to military equipment such as missiles and drones. While the new rules stop short of a full export ban, the affected metals will require a special export license going forward – granting Chinese authorities an extra layer…
GCC markets offer strong hedge against global economic chaos Amid the ongoing global economic turbulence, the Gulf Cooperation Council region has demonstrated resilience, emerging as a dynamic hub. Its capital markets have weathered challenges, from US tariff shocks to fluctuations in oil prices, according to the group chief executive of EFG Holding. In an interview with Arab News at the 19th Annual EFG Hermes One-on-One Investor Conference in Dubai, Karim Awad highlighted the region’s solid fundamentals, emphasizing that concerns over external shocks often overshadow its long-term growth potential. “You’re seeing more IPOs coming to the region, and more sectors that…
Pakistan, Turkiye accept on joint oil, gas bids In a significant development, Pakistan and Turkiye have agreed on forging cooperation in oil and gas exploration, which came on the sidelines of Pakistan Minerals Investment Forum 2025. Pakistan and Turkiye signed a joint bidding agreement, according to which they would jointly participate in offshore bidding round to be conducted by Islamabad. In February 2025, the government of Pakistan announced an offshore block bid round, offering 40 blocks in Makran and Indus basins for exploration licences. This bid round is a significant opportunity for attracting foreign direct investment (FDI) in the upstream…
IT Minister Unveils Rs. 20 Billion Digital Leap for Inclusive Economy: Federal Minister for Information Technology and Telecommunications, Shaza Fatima Khawaja, unveiled the government’s pioneering approach to providing targeted subsidies through digital wallets. She shared that Prime Minister Shehbaz Sharif had entrusted various ministries including IT industries and Food Security, with the responsibility of devising out-of-the-box solutions for effective and dignified distribution of the Ramadan Relief Package. This resulted in the launch of a Rs. 20 billion digital payments initiative — a first in Pakistan’s history.”PM Shehbaz Sharif provided us the space and confidence to implement this digital initiative,” she…
DTI and Tapal Tea and Empower Women through Specialized Recruitment Drive for “Uraan” Program DTI, in collaboration with Tapal Tea, successfully conducted a Recruitment Drive aimed at hiring female electricians for its flagship women empowerment program, “Uraan”. This initiative marks a significant milestone in DTI commitment to gender inclusion, opening new doors for women in technical roles traditionally dominated by men. The recruitment drive received an encouraging response from aspiring female candidates, highlighting a growing interest in technical fields. As part of the “Uraan” program, Tapal Tea aims to create sustainable career opportunities for women in industrial roles such as…
Kibor rate is the average interest rate at which term deposits are offered between prime banks in the Pakistani wholesale money market or interbank market. KIBOR as a benchmark, to encourage transparency and improve management of the market risk undertaken by banks. Kibor Rates In Pakistan TENOR BID OFFER 1 – Week 11.92 12.42 2 – Week 11.89 12.39 1 – Month 11.88 12.38 3 – Month 11.86 12.11 6 – Month 11.84 12.09 9 – Month 11.78 12.28 1 – Year 11.78 12.28 Last Updated on 11th Apr 2025 Source: SBP
Public and businesses will benefit, and unemployment will fall. The Chairman of National Business Group Pakistan, the President of the Pakistan Businessmen and Intellectuals Forum, the President of All Karachi Industrial Alliance, the Chairman of the FPCCI Advisory Board, and the President and former provincial minister, Mian Zahid Hussain, said on Friday that significant reduction in electricity prices across the country by Prime Minister Mian Shahbaz Sharif’s is a highly laudable step. He highlighted the significant benefits of the reduced electricity prices, stating that it will relieve the public and the business community, make industrial production cheaper, and increase exports…
GCC economy to stay strong amid uncertain global viewpoint The Gulf Cooperation Council (GCC) economy is expected to show resilience in the face of rising global protectionism and geopolitical tensions, according to the latest ICAEW Economic Insight report prepared by Oxford Economics. Despite the uncertain global outlook, the report forecasts Middle East GDP growth of 3.3 percent in 2025, with GCC economies set to grow by 4 percent, up from an estimated 1.8 percent in 2024. While President Trump’s tariff policies have created uncertainty over external demand, the GCC remains largely sheltered from direct tariff impacts. The region’s non-energy sectors…
Export facilitation scheme amendments feared to harm apparel sector The Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) has opposed the recent amendments to the Export Facilitation Scheme (EFS), warning they will harm the apparel sector, particularly the small and medium enterprises (SMEs). In a statement, former PRGMEA chairman Ijaz Khokhar urged the Federal Board of Revenue (FBR) to take strict action against the companies that had misused the EFS facility instead of penalising the entire export sector. He emphasised that SME exporters were already struggling and there was a need to delay the amendments, which would prevent further damage.…
Goods-Related Businesses Are Posing as IT Companies to Avoid Taxes: In a recent meeting of the Senate Standing Committee on Information Technology, Senator Anusha Rahman raised concerns about certain companies posing as IT firms while actually engaging in goods-related businesses. She highlighted that these companies are obtaining tax exemptions under the guise of providing services. Senator noted that while many IT companies have been reporting losses over the past six to eight months, these particular companies are still turning a profit. When the Federal Board of Revenue (FBR) requested details about these companies, it revealed that 3,200 firms were operating…
Google Wallet now available for UBL customers in Pakistan UBL has become one of Pakistan’s first banks to enable Google Wallet for its Mastercard and Visa Debit Cards. By adding their cards to Google Wallet on Android and Wear OS devices, UBL customers will now be able to enjoy a faster and more secure way to pay. This convenient facility allows cardholders to tap and pay at stores, shop online, and make in-app purchases effortlessly. With the increasing adoption of digital payments, this new feature provides UBL customers with greater convenience and security in everyday transactions. Google Wallet ensures that…
Kibor rate is the average interest rate at which term deposits are offered between prime banks in the Pakistani wholesale money market or interbank market. KIBOR as a benchmark, to encourage transparency and improve management of the market risk undertaken by banks. Kibor Rates In Pakistan TENOR BID OFFER 1 – Week 11.92 12.42 2 – Week 11.89 12.39 1 – Month 11.81 12.31 3 – Month 11.80 12.05 6 – Month 11.75 12.00 9 – Month 11.70 12.20 1 – Year 11.71 12.21 Last Updated on 24th Mar 2025 Source: SBP
GCC labour force hits 31.8mn: GCC-Stat Data issued by the Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf (GCC-Stat) revealed that the total labour force in GCC countries reached 31.8 million, representing 54.2 percent of the total population. Asia accounts for 62.7pc of multinational companies Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has revealed that 62.7 percent of the multinational companies (MNCs) it attracted to Dubai in 2024 originated from Asia, underlining Dubai’s growing status as a key investment hub for international corporations. Latin America and Europe each accounted for…
IT exports soar: Pakistan Pakistan is rapidly transforming into a global tech hub, driven by record-breaking IT exports, policy-driven innovation, and a thriving digital workforce. The government’s commitment to digital advancement aims to create a more connected, secure, and innovative future. The Ministry of IT and Telecom remains dedicated to positioning Pakistan as a leading digital economy by fostering innovation, expanding connectivity, and ensuring universal access to telecom services. According to official documents, “These efforts are creating a sustainable digital ecosystem, making Pakistan a rising tech hub.” Over the past year, Pakistan’s IT and telecom sector has seen remarkable progress,…
Telenor Pakistan Partners with Huawei for Next-Gen CBS Upgrade at MWC 2025: Telenor Pakistan and Huawei have signed a Strategic Cooperation Agreement at Mobile World Congress (MWC) 2025 to upgrade Telenor Pakistan’s Communication Business Support System (CBS). This agreement marks a significant step in Telenor Pakistan’s digital transformation journey, enhancing its technological capabilities and operational efficiency. The agreement was formalized in the presence of Mr. Khurrum Ashfaque, CEO of Telenor Pakistan, and Mr. Sun Xiaofei, CEO of Huawei Pakistan, highlighting both organizations’ commitment to driving innovation in the telecom industry. TECNO Pocket Go – World’s First Windows AR Gaming Set to Be Unveiled at…
Indus Motor reports strong growth in 1hfy25 Indus Motor Company Limited has announced its financial results for the half-year FY 24-25 ended December 31, 2024, showcasing strong growth amidst signs of economic recovery in Pakistan. The Company’s net sales turnover for the six-month period ended December 31, 2024, surged to Rs. 84.88 billion, up from Rs. 50.91 billion in the corresponding period last year. This significant increase was primarily driven by higher sales volumes of CKD and CBU vehicles, alongside improvements in cost efficiencies and localization efforts. During the period under review, the Company posted a substantial increase in Profit…
Kibor rate is the average interest rate at which term deposits are offered between prime banks in the Pakistani wholesale money market or interbank market. KIBOR as a benchmark, to encourage transparency and improve management of the market risk undertaken by banks. Kibor Rates In Pakistan TENOR BID OFFER 1 – Week 11.57 12.07 2 – Week 11.53 12.03 1 – Month 11.44 11.94 3 – Month 11.61 11.86 6 – Month 11.53 11.78 9 – Month 11.46 11.96 1 – Year 11.47 11.97 Last Updated on 10th Mar 2025 Source: SBP
Pakistan to double exports in 3-5 years, targeting GCC market Pakistan plans to double its exports within the next three to five years, with a particular focus on the Gulf Cooperation Council (GCC) market, according to Finance Minister Muhammad Aurangzeb. Speaking to Asharq Business and Bloomberg during his visit to Saudi Arabia for the Alula Conference for Emerging Market Economies 2025, Aurangzeb outlined the country’s ambitions to significantly boost its international trade. In 2025 GCC to outpace the global economy First Abu Dhabi Bank (FAB), the UAE’s global financial institution, has launched its 2025 Global Investment Outlook report, forecasting that…
Pakistan, Bangladesh start direct trade with rice exports Pakistan and Bangladesh have started direct government-to-government trade after decades of troubled relations with imports of 50,000 tonnes of rice, Dhaka said on Tuesday. The two countries have witnessed a thaw in ties after the ouster of India-aligned premier Sheikh Hasina. Long-time Bangladeshi prime minister Sheikh Hasina was ousted in an August 2024 revolution, fleeing by helicopter to her old ally India, where she has defied extradition requests to face charges of crimes against humanity. Relations between India and Bangladesh’s new government have been frosty since then, allowing Islamabad and Dhaka to…
Mobilink Bank Joins Forces with NymCard and Dellson Associates to Revolutionize Digital Financial Services: Mobilink Bank, Pakistan’s leading digital microfinance institution, has entered into a strategic partnership with leading fintech innovator NymCard and technology consultancy, Dellson Associates to accelerate digital financial services and cross-border enablement. The collaboration marks a significant step toward reshaping the future of financial inclusion in Pakistan. Under this alliance, NymCard will integrate its cutting-edge technology platform to facilitate seamless digital lending solutions, including Buy Now, Pay Later (BNPL), Send Now, Pay Later (SNPL), and Instant Card Issuance. Meanwhile, Dellson Associates will spearhead the bank’s technology enablement…
Pakistan Banking Summit 2025: game-changer for financial sector The Pakistan Banks Association (PBA) has officially announced the launch of the Pakistan Banking Summit 2025 (PBS’25), a landmark industry-led event set to take place on February 24 & 25, 2025, in Karachi. The announcement was made at a press conference held at the PBA head office, led by Atif Bajwa, Chairman of the PBS Steering Committee & President and CEO -Bank Alfalah, joined by Zafar Masud, Chairman PBA & President & CEO – Bank of Punjab (BoP); Basir Shamsie, President & CEO – JS Bank; and Muneer Kamal, CEO & Secretary General – PBA, along with other senior banking industry officials.…
Kibor rate is the average interest rate at which term deposits are offered between prime banks in the Pakistani wholesale money market or interbank market. KIBOR as a benchmark, to encourage transparency and improve management of the market risk undertaken by banks. Kibor Rates In Pakistan TENOR BID OFFER 1 – Week 11.91 12.41 2 – Week 11.88 12.38 1 – Month 11.79 12.29 3 – Month 11.70 11.95 6 – Month 11.61 11.86 9 – Month 11.54 12.04 1 – Year 11.52 12.02 Last Updated on 24th Feb 2025 Source: SBP
Published in AlJazeera, on Feb 19th, 2025 Manila says it will lodge a diplomatic protest after a Chinese helicopter flew deliberately within 3 metres (10 feet) of a Philippine aircraft. The United States ambassador to Manila has condemned “dangerous” manoeuvres by a Chinese navy helicopter that threatened the safety of a Philippine government aircraft patrolling a disputed shoal in the South China Sea. In a post on social media on Wednesday, US Ambassador MaryKay Carlson condemned the actions of the Chinese helicopter and called on Beijing “to refrain from coercive actions and settle its disputes peacefully in accordance with international law”. end of…
Published in Saudi Gazette, on Feb 19th, 2025 PALM BEACH — US President Donald Trump pushed back Tuesday against Ukraine’s objections to being excluded from talks between the US and Russia in Saudi Arabia aimed at ending the war in eastern Ukraine. He also seemed to suggest that Ukraine was to blame for a war that began only after Russia invaded that country. Speaking to reporters from his Mar-a-Lago estate, Trump said, “Today I heard, well, we weren’t invited. Well, you’ve been there for three years. You should have ended it three years. You should have never started it.” Trump…
Published in AlJazeera, on Feb 19th, 2025 Hamas says it seeks a lasting ceasefire and a full Israeli pullout, rejecting conditions for its removal from Gaza. Hamas has proposed to release all captives remaining in the Gaza Strip in “one go” in exchange for a lasting truce and a complete Israeli army withdrawal from the besieged enclave. In a statement on Wednesday, Hamas spokesman Hazem Qassem outlined the group’s vision for the second phase of the ceasefire deal which includes the proposed exchange. end of list “We are ready for a second phase in which the prisoners will be exchanged…
Published in Dawn, on Feb 18th, 2025 DUBAI: Iran said on Monday that US and Israeli threats against it were a blatant violation of international law and that they could not “do a damn thing” to hurt Tehran. The comments came after Israeli Prime Minister Benjamin Netanyahu met US Secretary of State Marco Rubio in Jerusalem on Sunday and said their countries were determined to thwart Iran’s nuclear ambitions and its influence in the Middle East. Netanyahu said Israel had dealt a “mighty blow” to Iran since the start of the conflict in Gaza and that with the support of US President…
Published in Saudi Gazette, on Feb 18th, 2025 CAIRO — Egyptian President Abdel Fattah al-Sisi said his country is developing a plan to rebuild Gaza without forcing Palestinians out of the strip in a counter to President Donald Trump’s proposal to depopulate the territory so the US can take it over. Egypt’s state-run Al-Ahram newspaper said the proposal calls for establishing “secure areas” within Gaza where Palestinians can live initially while Egyptian and international construction firms remove and rehabilitate the strip’s infrastructure. Egyptian officials have been discussing the plan with European diplomats as well as with Saudi Arabia, Qatar and…
Published in AlJazeera, on Feb 18th, 2025 Ukrainian president says no decision on how to end Russia’s war on his country can be made without consulting Kyiv. President Volodymyr Zelenskyy has renewed a demand that Kyiv be included in any talks on how to end Russia’s war on Ukraine after the United States and Russia agreed to create a team to negotiate a halt to the fighting. Ukraine was not represented at the talks between the US and Russian officials in Saudi Arabia’s capital Riyadh on Tuesday. end of list “We want no one to decide anything behind our backs … No…
Published in Geo News, on Feb 17th, 2025, By Zarmeen Zehra Security forces determined to wipe out menace of terrorism from country, says ISPR IBO conducted on reported presence of terrorists: ISPR. Security forces effectively engaged terrorists location, killing 30. “Sanitisation operation conducted to eliminate any other terrorists.” RAWALPINDI: Security forces killed at least 30 terrorists in an intelligence-based operation (IBO) conducted in Khyber Pakhtunkhwa’s (KP) South Waziristan district, the military’s media wing said on Tuesday. According to a statement issued by the Inter-Services Public Relations (ISPR), “On 17 February 2025, security forces conducted an operation in general area Sararogha of South…
Published in Saudi Gazette, on Feb 17th, 2025, WASHINGTON — The US State Department has dropped a statement from its website which stated that Washington does not support Taiwan’s independence — a move which has sparked anger in China. China said the revision “sends a wrong… signal to separatist forces advocating for Taiwan independence”, and asked the US to “correct its mistakes”. The department’s fact sheet on Taiwan-US relations earlier included the phrase “we do not support Taiwan independence” — this was removed last week as part of what it said was a “routine” update. A US spokesperson was quoted…
Ali Jahangir Siddiqui’s Pivotal Role in Transforming Digital Banking in Pakistan Digital banking in Pakistan has experienced rapid growth in recent years, driven by technological advancements that are reshaping the delivery of financial services. Noman Azhar, Chief Officer of Zindigi, highlights how digital banking is no longer just an alternative but a parallel offering to traditional banking. According to Azhar, digital-native banks like Zindigi now provide a full spectrum of services, from comprehensive account management to foreign currency transactions, rivaling traditional commercial banks. The Birth of Zindigi: A Leap Toward Digital Innovation Zindigi, a groundbreaking digital banking platform, is the…
State Life Insurance Corporation of Pakistan (SLIC) is set to launch an ambitious national diabetes health check drive and awareness campaign on February 15, 2025 between 9 a.m. to 1 p.m. Offering free diabetes health checks, expert consultations, and essential resources on prevention, nutrition, and disease management, this initiative marks a significant step in addressing one of the nation’s most pressing health challenges. In collaboration with over 370 hospitals across KP, Balochistan Sindh and Punjab, SLIC’s free diabetes health check drive is the largest public health initiative of its kind, targeting diabetes—a silent epidemic affecting more than 30% of the…
Zong 4G in collaboration with Knowledge Platform, has successfully concluded its Digital Scholars Program, transforming education across Pakistan. Spanning eight months, the program supported 3,359 students, 210 teachers, and 60 schools across 42 cities, leveraging digital learning tools and methods. Through interactive online tutoring and teacher training, the program achieved an impressive 75% improvement in overall student performance, setting a benchmark for integrating technology in education. The program focused on grades 9 and 10, offering tailored modules aligned with national and provincial curricula. Students accessed videos, games, activities, and assessments, while teachers received extensive training in pedagogy, IT skills, and…
Türkiye achieved a 9.8% year-on-year growth in its visitor numbers and hosted 62.269.890 visitors in 2024, representing a 20.3% growth compared to 2019, the pre-pandemic year. The total number includes over 135,000 Pakistani tourists. With this figure, Türkiye also surpassed its own target of 60 million visitors, announced earlier in 2024. In addition, Türkiye generated 61.1 billion USD as tourism revenue, which is 8.3% more than the previous year. Overall, 2024 has been Türkiye’s most successful year in tourism. Europe, the Middle East, and Central Asia have remained Türkiye’s biggest source markets while emerging markets such as the Americas, India,…
The two-day Agri-Connections 2025 conference and expo with the theme of ‘Investing in Agriculture for Growth’ will kick off on Wednesday at Karachi Expo Center. The conference will have speakers from Turkey, Italy, Hungary, Peru, Uzbekistan, France, the United States of America, and Pakistan. The speakers will highlight how global historic geo-political changes like US and EU sanctions on Russia, and anticipated US tariffs on China, Mexico, and Canada, present opportunities for Pakistan in terms of the new commodity flows. The expo and conference will be opened with the welcome address by Kazim Saeed, CEO Pakistan Agricultural Coalition, and opening…
After six long years, the Beaconhouse Jubilee Campus Model United Nations (MUN) is back and brimming with enthusiasm! JCMUN VI, which took place recently, brought together young diplomats ready to step into the shoes of global leaders and engage in dynamic debates and negotiations on critical global issues With delegates coming from all over Karachi, this year’s MUN will feature six engaging committees, each presenting unique opportunities for delegates to showcase their skills in diplomacy and problem-solving. These committees include the United Nations Security Council (UNSC), the Human Rights Council (HRC), the Political and Nuclear Affairs (PNA), the Social, Cultural…