POGEE 2024 – Energy sector’s largest exhibition inaugurated in Lahore The 18th edition of ‘Pakistan Oil, Gas & Energy Exhibition’ (POGEE) Lahore The grand event features the latest Oil, Gas & Power technologies. The 18th edition of the ‘Pakistan Oil, Gas & Energy Exhibition’ (POGEE), the premier showcase of the Energy sector, commenced at the Lahore Expo Centre with great enthusiasm. This edition, featuring cutting-edge global technologies for the Oil, Gas, and Power industries, was inaugurated alongside the 15th Safe Secure Pakistan (SSP) exhibition. The ribbon-cutting ceremony was graced by Mr. Zaki Aijaz, Vice President of the Federation of Pakistan…
Author: PAGE
Qatar economy grew 1.2pc year on year in q3, 2023 The Gulf state of Qatar’s real gross domestic product (GDP) increased 1.2 percent year on year in the third quarter of 2023, government estimates showed on Thursday. Estimated quarterly GDP at constant prices, adjusted for inflation, stood at 177.3 billion riyals ($48.6 billion) in the quarter, compared with an estimate for the same quarter of 2022 of 175.2 billion riyals, according to the Planning and Statistics Authority. GDP rose 4 percent from the second quarter of last year. Qatar, among the world’s top exporters of liquefied natural gas (LNG), posted…
Foreign investors meet Finance Minister A delegation of international investors, led by Ahmad Bozai, MD of Citibank Pakistan, called on Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Tuesday to explore investment prospects and economic dynamics in Pakistan. The finance minister welcomed the delegation and assured them that the government is committed to fostering an enabling business environment in Pakistan. International monetary fund to vet budget before cabinet The government is set to deliberately violate an Act of Parliament by not securing the approval of the federal cabinet for the Budget Strategy Paper until the International Monetary Fund…
Classic Nokia 3210 Returns With a New Look After 25 Years: HMD may be rebranding its smartphones, but the Nokia name is still very much alive when it comes to feature phones.The Nokia 3210 has been revamped for the modern era, sporting a fresh design inspired by the recently launched Nokia 6310 (2024), despite sharing its name with the classic 1999 model. The updated Nokia 3210 (2024) boasts a 2.4-inch TFT LCD with QVGA resolution and features a 2MP rear camera equipped with an LED flash. It operates on the S30+ system, includes Cloud Apps support, and is powered by a Unisoc…
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 21.79 22.29 2 – Week 21.77 22.27 1 – Month 21.75 22.25 3 – Month 21.52 21.77 6 – Month 21.32 21.57 9 – Month 21.03 21.53 1 – Year 20.62 21.12 Last Updated on 13th May 2024 Source: SBP
Google is committed to ensuring that everybody can benefit from AI, and we believe that skilling is the first step. Google has launched Google AI Essentials, a new course to help more people unlock AI skills for the future, provides up to 45,000 scholarships for Google Career Certificates in 2024, and adds two new programs to upskill freelancers and women A new educational course for AI beginners Google AI Essentials is our new self-paced, online course taught by AI experts at Google. This course requires no previous experience with AI, and is designed to help teach people across roles and…
The grand event features the latest Oil, Gas & Power technologies. The 18th edition of the ‘Pakistan Oil, Gas & Energy Exhibition’ (POGEE), the premier showcase of the Energy sector, commenced at the Lahore Expo Centre with great enthusiasm. This edition, featuring cutting-edge global technologies for the Oil, Gas, and Power industries, was inaugurated alongside the 15th Safe Secure Pakistan (SSP) exhibition. The ribbon-cutting ceremony was graced by Mr. Zaki Aijaz, Vice President of the Federation of Pakistan Chambers of Commerce & Industries (FPCCI), Zia Salahuddin, Executive Director of Oil & Gas Development Company (Pakistan) Limited (OGDCL), Dr. Abdul Rehman,…
Zong 4G, Pakistan’s top telecom operator, has joined hands with D3 Communications to eliminate the digital divide in Pakistan and empower the public through high-speed internet connectivity. D3 Communications stands at the forefront of the industry as a premier supplier of IT infrastructure and network deployment services, specializing in comprehensive support and implementation of voice, data, video, and wireless solutions. This joint effort will ensure the provision of dependable, high-speed, and secure internet connectivity throughout Pakistan, thereby fostering limitless opportunities for economic expansion, educational advancement, and social development. This strategic partnership, named ‘Powered by Zong’ will ensure easy and seamless…
Dubai is a city with its stunning skyline and luxurious lifestyle. The city’s myriad attractions attract travelers from around the globe. However, for the Pakistani travelers, exploring Dubai is more convenient and enjoyable. One of the most reliable ways to explore the city is by renting a car. Furthermore, Rent a car Dubai services allows you to navigate the streets of Dubai with unparalleled freedom and flexibility. This guide is all you should need to know how Pakistani travelers have to rent a car in Dubai. Understanding the basics of car rental in Dubai It’s important to have some fundamental…
Written By Lena McKnight Partner Lead, Automotive and New Mobility and Advanced Manufacturing Industries, World Economic Forum Stefan Fahrni Associate Partner, McKinsey & Company The automotive industry is responsible for 10% of the world’s carbon dioxide emissions by producing 80 million vehicles yearly. The regulatory landscape is complex and fragmented, a barrier to solid yardsticks and benchmarks for maintaining sustainability in the automotive industry. The sustainability compass from the Resilient and Sustainable Automotive Value Chain initiative allows a company to navigate the myriad options toward a sustainability framework and to choose those that resonate with its goals. The global automotive industry stands…
Written By Ian Shine Senior Writer, Forum Agenda Governments around the world are building out new rules for cryptocurrencies. The International Organization of Securities Commissions has also laid out its 18 recommendations for global rules on managing crypto and digital assets. The World Economic Forum’s Pathways to the Regulation of Crypto-Assets details key regulatory developments over the past few years. The Forum is actively working on the Digital Assets Regulatory (DAR) initiative, which analyzes outcomes of different national approaches to digital asset regulation. Cryptocurrency has often been synonymous with a lack of regulation. However, this is rapidly starting to change, with governments…
Written By Marco Arcelli Chief Executive Officer, ACWA Power This article is part of:Special Meeting on Global Collaboration, Growth and Energy for Development The Global South will be responsible for much of the global future energy demand. Meeting that growth in demand will not just improve millions of lives, but is an opportunity, too. Saudi Arabia’s ACWA Power offers an example of how other companies can enter these dynamic markets. The Global South represents 56% of the world’s population, but its power generation capacity is only 18% of the world’s total. Given that roughly 85% of new energy demand in the…
Written By Robin Pomeroy Podcast Editor, World Economic Forum Emanuela Orsini Digital Content Specialist, World Economic Forum Sophia Akram Writer, Forum Agenda Mining presents a key and underserved sustainability challenge with the demand for metals set to increase along with certain green technologies. The Forum’s UpLink platform has launched a search for new solutions. Leading figures in the field talk to Radio Davos about the opportunities of sustainable mining. Listen to the podcast here, on any podcast app via this link or YouTube. “Whether it’s semiconductors or cars or cellphones or the toothpaste that you use to brush your teeth in the morning, it all depends on the mining…
Written By Andrea Mechelli, King’s College London By the time you have finished reading this article, at least one species on our planet will be lost forever. Humans rely on a wide range of animals, plants and microorganisms for healthy living environments. Research has shown that the continuing decline in biodiversity – the variety of life on Earth – is a threat to humanity’s existence. A study my colleagues and I conducted takes this knowledge further. We have shown that biodiversity can also play a critical role for people’s mental wellbeing. Previous studies have demonstrated that contact with nature benefits…
Written By John Letzing Digital Editor, World Economic Forum This article is part of: Special Meeting on Global Collaboration, Growth and Energy for Development Countries are pumping resources into mastering AI and other cutting-edge technology. Building an ‘intelligent economy’ with these tools could mean gaining economic heft and a stronger hand in shaping the future. It’s a global push with historical parallels. The theme of ‘intelligent’ economies has been threaded throughout the #SpecialMeeting24. What makes an economy “intelligent?” It seems to boil down to mastering the latest technology in the most effectively self-serving way. Countries have been taking turns at some version…
Written By Jan Rosenow Director of European Programmes, Regulatory Assistance Project Cristina Oyón Director of Technology, Innovation and Sustainability, The Basque Business Development Agency Natalia Zabolotnikova Accenture Fellow , World Economic Forum Xabier Mugarza Zorriqueta Project Fellow, Clean Power and Electrification, World Economic Forum Geneva This article is part of:Special Meeting on Global Collaboration, Growth and Energy for Development Governments are key gateways to a sustainable future by effectively taxing and subsidizing energy and influencing industrial electrification. Rebalancing taxes and levies on electricity will tackle the “spark gap” or electricity-gas ratio that will bring down operating costs after electrification. Technology development will help overcome some…
Written By Greg Goodwin Director of Precision Conservation Management, Illinois Corn Growers Association John Stackhouse Senior Vice President, Office of the CEO, Royal Bank of Canada A shift towards regenerative agriculture is necessary to improve the resilience of our ecosystems. But farmers need support to change their practices through access to better funding models. A new report describes a “breakthrough model” of financing and collaboration to highlight possible solutions that could benefit farmers, financial institutions, agri-food companies and more. As we continue to work to better the environment, it is no secret that increasing the health of agricultural soils has benefits, including…
Published in The Nation, on May 02nd, 2024, Web Desk Pakistan will not provide bases to any foreign government or military, citing the Foreign Office spokesperson. “We reject allegations levelled by Shehzad Akbar. It is not our policy to target our citizens,” FO spokesperson said. “The opposition party leader should be questioned about his statement on the military bases”, FO spokesperson Mumtaz Zehra Baloch said in a briefing. “These claims are baseless, and politics based,” she said. FO spokesperson called the incident with the German ambassador as regretful. Replying a question, she said there are concerns across the world over…
Turkish Foreign Minister Hakan Fidan says his country will ‘continue to support the Palestinian people in all circumstances’ [File: Leonardo Fernandez Viloria/Reuters] Published in AlJazeera, on May 1st, 2024, Foreign minister says Ankara will submit a formal request to the International Court of Justice to join the case. Foreign Minister Hakan Fidan says Turkey will join in South Africa’s genocide case against Israel at the International Court of Justice (ICJ). “Upon completion of the legal text of our work, we will submit the declaration of official intervention before the ICJ with the objective of implementing this political decision,” Fidan said…
Iran’s Supreme Leader Ayatollah Ali Khamenei speaks during a meeting with teachers in Tehran, Iran May 1, 2024 — Reuters. Published in Dawn News, on May 2nd, 2024, AFP TEHRAN: Iran’s supreme leader Ayatollah Ali Khamenei said on Wednesday efforts underway to forge a normalisation of ties between Israel and Arab countries will not resolve the crisis in the Middle East. “Some people think that by forcing neighbouring countries to normalise their ties (with Israel) the problem will be solved,” said Khamenei. “They are wrong.” Khamenei’s remarks came after US Secretary of State Antony Blinken said Washington is nearly ready…
US Secretary of State Antony Blinken, centre, talks with Israel’s Defence Minister Yoav Gallant [Evelyn Hockstein/Reuters] Published in AlJazeera, on May 1st, 2024, Top US diplomat says efforts to deliver humanitarian aid to Gaza must be accelerated and sustained as famine looms in parts of the territory. US Secretary of State Antony Blinken has urged Israeli officials to improve the facilitation of humanitarian aid supplies to Gaza amid warnings from the United Nations and aid agencies of a looming famine in parts of the war-ravaged Palestinian territory. Blinken on Wednesday travelled to Kerem Shalom, an Israeli entry point into Gaza…
Ukrainian servicemen take part in radiation, chemical and biological hazard drills [File: Sofiia Gatilova/Reuters] Published in AlJazeera, on May 2nd, 2024, Washington says Moscow breached global ban on chemical weapons with use of chloropicrin and tear gas. The United States has accused Russia of breaching the global ban on chemical weapons by using the choking agent chloropicrin against Ukrainian soldiers and deploying riot control agents “as a method of warfare” in Ukraine. “The use of such chemicals is not an isolated incident, and is probably driven by Russian forces’ desire to dislodge Ukrainian forces from fortified positions and achieve tactical gains…
Crown Prince and Prime Minister Mohammed bin Salman chairs the weekly session of the Council of Ministers in Riyadh on Tuesday. Published in Saudi Gazette, on May 2nd, 2024, Saudi Gazette report RIYADH — The Council of Ministers on Tuesday underscored Saudi Arabia’s efforts, in partnership with other friendly countries, to strengthen collective action towards ending the war in the Gaza Strip as well as to ensure the safety of civilians, provide humanitarian aid, and support the international recognition of an independent Palestinian state. Crown Prince and Prime Minister Mohammed bin Salman chaired the weekly session of the Cabinet in Riyadh. The Cabinet…
by Katharina Buchholz, Despite motorized rickshaws being a popular symbol associated with India, the country only became the biggest seller of electric three-wheelers last year. Previously, China – a quick adopter of electric mobility in general – had seen higher annual three-wheeler EV sales. However, in 2023, only 320,000 were newly sold in the country, down from 350,000 in 2022. According to the IEA Global EV Report 2024, 3W EV sales picked up in India, rising by almost two-thirds in just one year to 580,000. There are few other markets for electric three-wheelers in the world outside of Asia, with only Europe selling any sizable number…
by Anna Fleck May is Mental Health Awareness Month in the United States. According to the National Alliance on Mental Illness, participants use the month to focus efforts on “eradicating stigma, extending support, fostering public education and advocating for policies that prioritize the well-being of individuals and families affected by mental illness.” The topic of suicide is an important part of this conversation. As the following chart shows, it is a truly global issue, even though estimated rates vary around the world. For example, according to OECD data, out of every 100,000 men in the United States an average of 23 committed suicide…
by Katharina Buchholz, People working in Burkina Faso, Nigeria and Jamaica are most likely to have a female boss. This is according to data by the International Labor Organization. The latest data from 2022 and 2023 shows that in Burkina Faso and Nigeria, between 67 percent and 70 percent of all managers are women. Jamaica and Botswana are the only other countries with available data listing more female than male managers, at around 60 percent and 52 percent, respectively. More countries with a high share of women in managerial positions are the Philippines and Caribbean island nation Saint Lucia as well as…
by Anna Fleck, Five more people, including a child, died when trying to cross the English Channel by boat last Tuesday (April 23). The news came the same day that Rishi Sunak’s government pushed through the next steps of its Rwanda legislation, supposed to deter such attempts to cross from happening. The Rwanda bill has sparked backlash, with a majority of the UK public doubtful that it will cut down on small boat arrivals. The new law will state that any asylum seeker who has arrived in the UK “illegally” after January 2022 could be deported to Rwanda, where their asylum requests…
by Katharina Buchholz, The global e-commerce market is dominated by China. According to data from eCommerceDB, the country’s total online retail sales amounted up to almost $2.2 trillion last year. The United States is in rank 2 with sales of $981 billion and the United Kingdom comes third as revenues reached $157 billion. Sales included in the data represents B2C sales of physical goods including VAT. Already catering to a giant market back home, China has recently been trying to gain a stronger foothold in international online shopping. More and more Chinese e-commerce firms are branching out with platforms for the international market. Temu by Chinese…
by Katharina Buchholz According to the Statista Market Insights, more than 15 percent of food sales in Denmark are of organic products, making the country the biggest market for organic food in relative terms. Austria, Luxembourg and Switzerland are the only other countries achieving a share above 10 percent, showing that in a global context, food marketed as organic is still a somewhat of a niche despite all the hype surrounding it. Taking into consideration only foods marketed as organic (and not those which are not sold as such, for example in countries with less formalized foos markets), the global share…
by Katharina Buchholz, This year’s Earth Day, held on April 22, has the motto “Planet vs. Plastics”. One area where the problem of global plastic reliance becomes very visible is the plastic waste and scrap trade that carries the inherent risk of air, land and maritime pollution. The sector has kept shifting, avoiding new regulations that try to rein in its issues In 2022, plastic waste trade data for 129 countries was available from the UN Comtrade database. Japan and wealthy European countries remained among major net exporters of plastic waste. The Philippines, with a net plastic waste export of more than 80,000 tons last year, is…
Pakistan’s selectors announce Green Shirts’ squad for England and Irelenad tours on May 2, 2024. — Screengrab/YouTube/Pakistan Cricket Published in The News, on May 02nd, 2024, By Sohail Imran Pakistan will face Ireland, and England in three and four-match T20I series this month LAHORE: Ending the existing ambiguity surrounding Pakistan’s cricket team for the tours of England and Ireland, the Pakistan Cricket Board (PCB) Thursday revealed the 18-member squad for the upcoming T20I tours ahead of the T20I World Cup 2024. With Babar Azam leading the Green Shirts, the squad includes Abrar Ahmed, Azam Khan, Haris Rauf, Salman Ali Agha, Muhammad…
Published in Dawn News, on May 2nd, 2024, AFP NEW DELHI: Next month’s T20 World Cup will help build cricket’s profile and popularity in the United States ahead of its appearance at the 2028 Olympics in Los Angeles, the sport’s world body said. The showpiece 20-over event will be co-hosted by the West Indies and the United States in June with New York, Florida and Dallas as venues. The International Cricket Council (ICC) said it was confident the tournament would help the sport leave a mark in a land where baseball rules. “The fact that a World Cup has come to the…
In a landmark development, Pakistan Stock Exchange (PSX) has signed a collaborative understanding with LSEG (London Stock Exchange Group) on Environment, Social and Governance (ESG). Under this mutual understanding, both companies will work to develop a suite of standardisedESG data tools that can be used by PSX listed companies for their ESG data reporting. This understanding benefits PSX and listed companies in that the platform will not only provide ESG scoring but also enhance the visibility of Pakistani companies on the international ESG radars. This arrangement shall also help lay down the groundwork for an ESG Index planned by the…
Saudi Arabia’s 2024 economic growth forecast cut Saudi Arabia’s economy will grow at a slower pace this year than previously predicted as oil prices drop from recent peaks, according to a Reuters poll which also showed the United Arab Emirates (UAE) expanding at the fastest clip in the region. After growing 8.7 percent in 2022, Saudi Arabia’s economy – the Gulf Cooperation Council’s (GCC) largest – contracted 0.9 percent last year as crude oil prices dropped from a March 2022 peak of $139 per barrel to average around $82 in 2023. With oil prices not expected to rise significantly this…
Bumper wheat crop in Pakistan this year The bumper wheat crop in Pakistan this year is seemingly becoming a nightmare for farmers as the market has crashed and growers are forced to sell the staple food crop much below the support price set by the government. Since Punjab contributes more than 75 percent of the total wheat harvest, farmers of the province are frustrated and have announced a nationwide protest on April 25. “We will not harvest wheat crop next year, if the exploitation of farmers continues, both from middlemen and the government,” remarked Kissan Board Pakistan Central Chairman Sardar…
Leaked Pak Suzuki Data Allegedly Up For Sale On Dark Web: A threat actor has allegedly auctioned off corporate data belonging to Pak Suzuki Motor Company Limited (PSX: PSMC) for sale on the dark web. The entire amount of data is allegedly 447.5 GB (without compression) and includes finance, accounting, HR/employee, IT, compliance, and administrative documents. “On April 9, 2024, we came to know that our corporate data has been leaked due to a cyber-attack. Initial investigations suggest that data related to HR, Financials, etc., from the server, has been ported out to public IP,” PSMC told the Pakistan Stock…
President Ibrahim Raisi’s visit will expand economic cooperation: Mian Zahid Hussain Both countries will create special and joint economic zones. Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain said on Tuesday that the three-day visit of Iranian President Ibrahim Raisi will open new avenues of economic cooperation between the two countries. He said that a large delegation of Iranian businessmen is also accompanying the distinguished guest, so their visit should be taken full advantage of, and economic cooperation should be increased, which will also help reduce…
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 21.81 22.31 2 – Week 21.73 22.23 1 – Month 21.67 22.17 3 – Month 21.47 21.72 6 – Month 21.18 21.43 9 – Month 20.86 21.36 1 – Year 20.47 20.97 Last Updated on 26th Apr 2024 Source: SBP
by Katharina Buchholz, One of the major challenges facing India right now is unemployment. This will be a major sticking point for younger voters. With often better opportunities abroad, some people are choosing to leave the country. And it’s not alone, as OECD data reveals. In fact, in 2015/2016 – the latest year on record – 40 million highly educated migrants were living in OECD member countries. While skilled migrants are certainly welcomed by labor markets in most developed nations especially in times of falling birth rates, the migration of the educated can also have a detrimental effect on their home countries – often described as…
by Anna Fleck April 15 is World Art Day, a day dedicated to promoting the development and enjoyment of art. The following chart looks at the results of public auctions of art works registered between January 1 and December 31, 2023 by Artron and Artprice, a company dedicated to the analysis of art market information from databases with millions of auction records. This study refers to auctions of paintings, sculptures, drawings, photographs, prints, videos, installations, tapestries and NFTs, and excludes antiques, anonymous cultural pieces and furniture. According to Artprice, the U.S. market was the most dominant in the world in 2023, with 23 percent…
Zong 4G, Pakistan’s premier telecommunications organization, has embarked on a groundbreaking journey by forging a Gold Partnership with Dahua Technologies, the global leader in video-based Advanced IoT solutions. This strategic collaboration is set to revolutionize the security and surveillance landscape for the corporate sector. In response to the ever-evolving challenges of the digital era, Zong 4G is taking bold strides in its digital transformation endeavors. Now, with the introduction of CCTV cameras, storage devices, and advanced access control systems, complemented by centralized and integrated solutions, Zong 4G is committed to safeguarding the invaluable data and assets of corporate clients. This…
Tower Sports, a subsidiary of HUM Network Limited (HNL), has secured exclusive satellite rights for ICC cricket events in Pakistan until the end of 2025. This groundbreaking agreement solidifies Tower Sports’ position as the premier destination for cricket enthusiasts across the nation, offering unparalleled access to six flagship ICC World events. Geoff Allardice, CEO of the ICC, expressed excitement about the partnership, stating, “Pakistan is a very important market for world cricket with a large and passionate fan base.” Duraid Qureshi, CEO of HNL, echoed this sentiment, emphasizing Tower Sports’ commitment to delivering exceptional sports entertainment. Arif Hussain, CEO of…
Written By Katie Fedosenko Director, ESG Engagement, Teck Resources Luciana Gutmann Project Fellow, Securing Critical Minerals for the Energy Transition, World Economic Forum This article is part of: Special Meeting on Global Collaboration, Growth and Energy for Development The products of mining are essential components in the world’s drive to meet net zero. However, the mining industry recognizes that it also has a responsibility to manage its impacts. Explaining how the mining industry is resolving past and current issues is proving tough, but with more effective communications it can be done. Many years ago, there was a TV advertisement shot…
Written By Babajide Oluwase Africa is extremely vulnerable to climate shocks, altering the lives of millions across the continent, particularly in cities and other urban areas. Building resilience against the impact of climate change requires cities that can adapt, bounce back and thrive in the face of unforeseen shocks. By coming together, embracing Indigenous knowledge and empowering citizens, cities can become a beacon of resilience and prosperity. The climate is changing at an astronomical rate and the impact of this can be seen everywhere. Imagine stepping outside your apartment for an early morning jog, only to be greeted by a…
Written By Johnny Wood Writer, Forum Agenda This article was originally published on 14 February 2024 and updated on 15 April 2024. E-waste, or waste electrical and electronic equipment, is the fastest-growing waste stream globally, with an estimated 62 billion kilogrammes produced in 2022 alone. But the phones, tablets, laptops and other gadgets we discard contain valuable metals and minerals, collectively worth $62.5 billion each year. With currently only about one-fifth of the world’s e-waste recycled, a World Economic Forum report underscores the need for systemic change to encourage industries to embrace the circular economy. Technological advancements continue to transform our…
Written By Matyáš Moravec, University of St Andrews Modern physics suggests time may be an illusion. Einstein’s theory of relativity, for example, suggests the universe is a static, four-dimensional block that contains all of space and time simultaneously – with no special “now”. What’s the future to one observer, is the past to another. That means time doesn’t flow from past to future, as we experience it. This clashes with how time is conceptualised in other areas of physics, such as quantum mechanics, however. So is time an illusion or not? One approach to find out would be to try…
Written By Fatemeh Aminpour Lecturer, School of Built Environment, UNSW Sydney Ilan Katz Professor of Social Policy, UNSW Sydney Jennifer Skattebol Deputy Director TeEACH Research Centre, Western Sydney University This article is published in collaboration with The Conversation One in seven people are neurodivergent, but current accessibility standards don’t fully address their needs. Biophilic design can improve quality of life for neurodivergent people by reducing sensory overload and improving social interaction. This kind of design incorporates natural elements into buildings to maintain our connection with nature in urban environments. Involving neurodivergent people in the design process is crucial to create…
Written By Maria Alonso Lead, Autonomous Systems, World Economic Forum Markus Hagenmaier Partner and Associate Director, Mobility Innovation & Digitalization, Boston Consulting Group Ivan Butenko Project Fellow, World Economic Forum and Consultant, Boston Consulting Group This article is part of: Centre for the Fourth Industrial Revolution Connected infrastructure will facilitate more effective and efficient use of our roads and vehicles. It has the potential to revolutionize how we move, making road mobility more efficient, safer and cleaner. The ‘Automotive in the Software-Driven Era’ community has identified key actions crucial for unlocking the full potential of smart road transport infrastructure. Connected infrastructure has…
Written By Adrian Gore Group Chief Executive, Discovery This article is part of: Centre for Health and Healthcare Some 70% of deaths globally are attributable to four lifestyle behaviours: physical inactivity, poor diet, excess alcohol consumption and smoking. These have a profound impact on societal health, so how can we prevent unhealthy behaviours that become entrenched as habits? Here’s how forming healthy exercise habits can have a very positive impact on overall health and why it’s never too late to start. As a society, we are living in increasingly poor health. Today, 70% of deaths worldwide are attributable to four lifestyle behaviours:…
Written By Henry Taylor, University of Birmingham and Masoumeh Mansouri, University of Birmingham A robot is chatting to an elderly British man in his bedroom. The robot has a cheery demeanour and a pleasantly high-pitched voice. The robot – perhaps because of the man’s age – starts asking him about his memories of the second world war: “Please tell me what was the most difficult thing you and your family had to go through?” The elderly man goes on to talk about how his father was in the Royal Air Force and they didn’t see him for almost four years.…
Published in The Nation, on Apr 15th, 2024, Agencies LONDON – Ties between Canada and India have deteriorated further as the former has dismissed dozens of Indian staffers from service who were working at its diplomatic missions in India over the Indian regime’s plan to assassinate pro-Khalistani Sikhs on Canadian soil. Relations between Canada and India started deteriorating last year when tens of thousands of Canadian Sikhs voted for Khalistan Referendum in several Canadian cities on the call of Sikhs For Justice (SFJ), led by Gurpatwant Singh Pannun who is a dual Canadian and US national. The relations hit…
UN Secretary-General Antonio Guterres addresses the Security Council during an emergency meeting at UN headquarters, Sunday. Published in Saudi Gazette, on Apr 15th, 2024, NEW YORK — UN Secretary-General António Guterres is calling for “maximum restraint” and de-escalation after Iran launched more than 300 drones and missiles at Israel early on Sunday. “We have a shared responsibility” to de-escalate tensions and work for peace, he said while opening the emergency session of the Security Council on Sunday. “It’s time to step back from the brink. It’s vital to avoid any action that could lead to measured military confrontations on…
An anti-missile system operates after Iran launched drones and missiles towards Israel, as seen from Ashkelon, Israel, April 14, 2024 [Amir Cohen/Reuters] Published in AlJazeera, on Apr 15th, 2024, Despite warning on all-out war with Iran, US renews efforts to push stalled funding package for Israel. The US is renewing efforts to push through stalled funding package for Israel, despite stressing it will not help with any counteroffensive measures against Iran. President Joe Biden told Israeli Prime Minister Benjamin Netanyahu in a phone call late on Sunday that the US will take no part in any retaliatory strike in…
Donald Trump supports chants calling Joe Biden “Genocide Joe”. — AFP/File Published in The News, on Apr 14th, 2024, By Web Desk “Everything Biden touches turns to shit,” says Trump Amidst threats of World War III, the Republican presidential candidate Donald Trump has blamed opponent Joe Biden for the escalating situation in the Middle East, Politico reported. He said both his looming hush money trial and Iran’s counterattack on Israel was all due to Democrats incapability to run the office. During a rally in Schnecksville, Pennsylvania on Saturday, he casted himself as in opposition to “menacing forces and vicious opponents.” The…
Iranian Foreign Minister Hossein Amirabdollahian Published in Saudi Gazette, on Apr 14th, 2024, TEHRAN — Iran has warned Israel that any “reckless” retaliation to its unprecedented aerial attack would receive a “much stronger response”. More than 300 drones and missiles were launched at Israel by Iran overnight, following the 1 April Israeli strike on Iran’s consulate in Syria. Israel said it and allies had intercepted 99% of the weapons. It marked Iran’s first direct attack on Israel, with the two countries having waged a years-long shadow war. World leaders have urged restraint amid concerns about a major escalation in…
At a protest in Niamey, a man holds up a sign demanding that soldiers from the United States Army leave Niger [AFP] Published in AlJazeera, on Apr 13th, 2024, In March, Niger suspended its military cooperation with the US after military government leaders severed ties with France last year. Hundreds of protesters have taken to the streets of Niger’s capital to demand the departure of United States troops, after the military government further shifted its strategy by ending a military accord with the US and welcoming Russian military instructors. Marching arm in arm through central Niamey on Saturday, the…
Max Holloway knocks out Justin Gaethje in UFC 300. — Reuters/File Published in Geo News, on Apr 15th, 2024, By Web Desk Max Holloway bagged a double bonus on Saturday after a remarkable performance against Justin Gaethje during Ultimate Fighting Championship (UFC) 300, becoming the biggest winner of extra cash. Holloway, 32, was named the new BMF after he gave a stunning performance capping it with a remarkable last-minute knockout to Gaethje, earning himself the titles of “Fight of the Night” and “Performance of the Night”. The double bonus for the fight that left Holloway’s fellow fighters stunned, earned him $600,000 handed…
New Zealand team arrives in Islamabad ahead of T20I series Published in Geo News, on Apr 14th, 2024, By Sports Desk Five-match series to commence on April 18, culminate on April 27. Rawalpindi, Lahore to host three and two matches, respectively. Babar Azam to lead Green Shirts against Michael Bracewell-led side. The New Zealand cricket team arrived in Islamabad in the early hours of Sunday morning ahead of their T20I series against Pakistan set to commence on April 18. The hosts, led by Michael Bracewell, will go up against the Men in Green in a five-match series of which three will…
Islamabad The State Bank of Pakistan announced on Monday (April 8) that overseas workers’ remittances surged to a remarkable US$3 billion in March 2024. During the month under review, remittances showed robust growth, increasing by 31.3 per cent on a month-on-month basis and by 16.4 per cent year-on-year, according to a news release. For the first nine months of the fiscal year 2023-24, workers’ remittances totalled US$21.0 billion, compared to US$20.8 billion during the same period last year. March 2024 saw significant inflows from key sources, with remittances mainly originating from Saudi Arabia (US$703.1 million), the United Arab Emirates (US$548.5…
Riyadh In a significant meeting in Makkah, Saudi Crown Prince Mohammed bin Salman and Pakistan’s Prime Minister Mohammed Shahbaz Sharif emphasised the pivotal role of the Kingdom in fortifying the Pakistani economy and enhancing trade ties. Both leaders reiterated their commitment to promptly executing Saudi Arabia’s $5 billion investment package in Pakistan, signalling the initiation of collaborative economic efforts. This commitment, as reported by the Saudi Press Agency on Monday (April 8), underscores a new phase of economic cooperation between the two nations. Discussions centered on exploring avenues for intensified cooperation across various sectors, highlighting Saudi Arabia’s crucial support in…
Karachi The Pakistani Rupee underwent a slight devaluation of 02 paisa against the US dollar in interbank trading on Monday (April 8), closing at Rs277.94 compared to the previous day’s closing of Rs277.92. Currency experts attributed this decline to heightened demand for the dollar at the start of the trading week, particularly for import and corporate payments. However, they noted improved sentiments due to a surge in foreign exchange reserves held by the State Bank of Pakistan (SBP), which helped offset further losses in the rupee’s value. Official data revealed a marginal increase in SBP’s foreign exchange reserves, reaching $8.04…
Karachi The Pakistan Stock Exchange (PSX) witnessed an unprecedented surge on Monday (April 8), with the benchmark KSE-100 index reaching an all-time high of 69,620 points amidst a persistent bullish rally. This remarkable leap of 1,203 points from the previous closing figure underscores the strong investor sentiment prevailing in the market. Equities entered the shortened trading week before Eid holidays with remarkable vigour. The bullish momentum remained undeterred as bulls resumed their upward trajectory, comfortably surpassing the 66,000 level at the PSX, said the analysts. Investors displayed a clear preference for strengthening their equity positions, engaging in value-hunting activities across…
Karachi The per tola price of 24 karat gold soared to unprecedented levels on Monday (April 8), experiencing a significant increase of Rs600 to be traded at Rs245,700. This surge marks a notable contrast from its previous day’s sale price of Rs245,100, reflecting the impact of record-breaking rallies in international gold markets. According to the All Sindh Sarafa Jewellers Association, the price of 10 grams of 24 karat gold also rose by Rs514, reaching Rs210,648 compared to its previous sale price of Rs210,134. Similarly, 10 grams of 22 karat gold witnessed an increase to Rs193,094 from Rs192,622. Analysts attribute this…
Islamabad The Ambassador of Kazakhstan, Yerzhan Kistafin, met with Federal Minister for Commerce, Jam Kamal Khan, on Thursday, April 4 in Islamabad to discuss enhancing economic and trade relations between the two nations, according to a publised report. The meeting primarily focused on devising strategies to bolster the trade volume between Kazakhstan and Pakistan, with a shared commitment to fostering closer economic ties. Both dignitaries deliberated on the formulation of roadmaps and the improvement of connectivity infrastructure to facilitate smoother trade operations between the two countries. Federal Minister Jam Kamal acknowledged the considerable potential for collaboration between Kazakhstan and Pakistan,…
Islamabad The American Business Council (ABC) of Pakistan has put forward a comprehensive proposal aimed at fortifying the country’s economy through tax reforms and enhanced ease of doing business in the upcoming budget for 2024-25. Emphasising the need to shift taxation from turnover to profit, Aisha Sarwari, a Board of Director member of the American Business Council of Pakistan, underscored the importance of restoring investor confidence and expanding the tax base. She made these remarks during the “Pre-Budget Proposal Seminar” hosted by the Ministry of Commerce in Islamabad on Friday (April 5). Sarwari highlighted the significant contributions of ABC members…
UAE’s economic rise: opportunities for Pakistan In fewer than fifty years, the United Arab Emirates (UAE) has evolved from a small rentier state administered by the United Kingdom to a modern society with a diverse economy and a strong regional presence as well as a worldwide network of friends and partners. The once-divided and marginalized state is seen today as a rising middle power with the second-largest Arab economy. In the international arena, the UAE has clear ambitions: rather than being known just as a regional power, it aims to be more like Singapore, wielding technological and economic power that…
The poor and the poorly paid: statistics Pakistan has many economic strata — those who can afford six-figure Eid clothes without batting an eye and those who are among the least paid globally. A comparison in dollar terms of the average monthly salaries of different countries places Pakistan among the bottom three. The data, extracted from information provided by contributors to the numbeo.com website, is all the more startling because the numbers were input by people with access to the internet, technology, and enough literacy to navigate the World Wide Web. At around $180, or around Rs50,000 a month, an…
3 Nayatel Products and Services to Try in 2024: Each year, the ever-changing needs of the user take a turn and each year, technology brings in new innovations to cater to those needs. This year is no different! While Pakistanis have the ability to indulge in anything, you will find most of them either binge-watching their favorite shows, battling it out in esports, or worrying about their safety. So, Nayatel has decided to list down three products and services that would help you meet your entertainment needs and put your security worries to rest. Whether you’re a movie buff, a hardcore gamer,…
Pakistan Cables wins the Gold Award for the Women Empowerment & Gender Equality Pakistan Cables won the Gold Award at the Women Empowerment & Gender Equality recognition Awards 2024 ceremony organized by the Employers’ Federation of Pakistan. The award was presented by the Federal Secretary of Ministry of Overseas Pakistanis and Human Resource Department, Dr. Arshad Mahmood to Mr. Aadil Riaz, Director Human Resources, Pakistan Cables Ltd. Pakistan Cables is committed to champion gender equality and female empowerment in the industry. . As part of a focus DEI strategy, the Company actively fosters a diverse organizational culture through various internal…
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 21.79 22.29 2 – Week 21.80 22.30 1 – Month 21.81 22.31 3 – Month 21.62 21.87 6 – Month 21.42 21.67 9 – Month 21.14 21.64 1 – Year 20.85 21.35 Last Updated on 4th Apr 2024 Source: SBP
by Anna Fleck, Less than half of OECD countries ban anonymous donations for political financing, according to data published in the Anti-Corruption and Integrity Outlook 2024 released by the OECD. The report argues that this leaves these countries “exposed to undue influence.” The following chart shows which countries have enforced regulations on the complete ban of financial contributions from anonymous donations, publicly owned enterprises and foreign states and foreign enterprises. According to the report, the problem with foreign donations is that they can “unduly influence candidates and political parties and lead to overrepresentation of foreign actors’ interests in public institutions rather than the…
by Anna Fleck China is the world’s biggest hydro power producer, having generated an estimated 1,303 terawatt hours of hydropower in 2022, according to data published by Ember, a UK-based energy think tank. This equates to approximately 31 percent of global hydropower that year. Following some way behind comes Brazil (427 TWh), Canada (398 TWh), the United States (249 TWh) and Russia (198 TWh). When looking at hydropower’s share of total electricity production for each of these countries, then Norway comes first with a high 87.5 percent of its electricity energy mix having been accounted for by hydropower in 2022. Only Paraguay comes…
by Florian Zandt, “Smoking kills” is but one of the slogans connected to anti-tobacco advocacy groups — and it’s quite true. When looking at behavioral risks, meaning types of risk that can largely be avoided, especially in highly industrialized nations, smoking cigarettes, cigars and other tobacco products is connected to a variety of diseases responsible for 7.7 million deaths worldwide. As our chart with data from the 2019 Global Burden of Disease study by the Institute for Health Metrics and Evaluation at the University of Washington shows, no other behavioral risk factor comes close to the disease burden of smoking. Coming in second…
by Katharina Buchholz, Chinese EVs continuing to make inroads around the world is reflected in the country’s car export figures which have been soaring post-pandemic. The export of cars from China increased from around 1 million to 2 million between 2020 and 2021 to much media attention and has since continued to climb even more dramatically. In 2023, it reached almost 5 million, according to data from the China Association of Automobile Manufacturers. According to official numbers, China shipped more cars abroad than Germany in 2022, becoming the second-biggest exporter, and more than Japan in 2023. Customs data, however, showed China still behind Japan at…
by Anna Fleck, According to Forbes’ Real-Time Billionaires List, as of April 2, Mukesh Ambani (66) is the richest man in Asia, with a net worth of $116.1 billion. Ambani is the chairman of Reliance Industries Limited, a conglomerate that focuses not only on petrochemicals, but also textiles and telecommunications. He ranks 11th on Forbes’ worldwide list, which is headed by Bernard Arnault & family (LVMH) with $221.8 billion, Jeff Bezos (Amazon) with $197.5 billion and Elon Musk (Tesla, SpaceX, X formerly Twitter) with $189.0 billion. In second place – and some 32.8 billion dollars behind – comes 61-year-old Gautam Adani who is…
by Felix Richter, Despite the fact that Wall Street’s hopes for a first rate cut in March turned out to be premature, markets were off to a flying start of 2024, as the S&P 500 went from strength to strength, ending the first quarter at yet another all-time high – the 22nd of this year. Overall, the index returned 10.6 percent in the first three months of 2024, marking the best first-quarter performance since 2019. Like last year’s rally, the index’s latest strength was largely fueled by the excitement surrounding artificial intelligence, as chipmaker Nvidia and Microsoft, a key investor in OpenAI, were…
by Anna Fleck, As many countries around the world scramble towards a green transition, a new era of electric cars is being ushered in and with it comes the need for batteries. While these batteries – also needed for home, industrial and grid energy storage – are being newly manufactured, the market for the recycling of lithium-ion batteries is growing too, especially since it “conserves the critical minerals and other valuable materials that are used in batteries and is a more sustainable approach than disposal”, as the U.S. Environmental Protection Agency writes. Data from ACS Energy Lett cited in an article by Maria Virginia Olano on Canary Media…
Islamabad Pakistan and the Netherlands affirmed the importance of bolstering bilateral relations and exploring new avenues for collaboration in areas of mutual interest. Ambassador Henny de Vries of the Kingdom of the Netherlands met with Minister for Finance and Revenue, Muhammad Aurangzeb, to discuss matters of mutual concern and reinforce the existing ties between the two nations, according to Finance Ministry statement issued here in Islamabad on Wednesday (April 3). Minister Aurangzeb warmly welcomed Ambassador de Vries, expressing gratitude for the enduring friendship and cooperation shared by Pakistan and the Netherlands. He underscored the significance of the bilateral relationship, rooted…
Karachi The per tola price of 24 karat gold witnessed an increase of Rs1,800 and was sold at Rs238,900 on Wednesday as compared to its sale at Rs237,100 on the previous day. The per tola price of 24 karat gold rose by Rs1,800 to reach Rs238,900 on Wednesday (April 3), while the price of 10 grams of 24 karat gold increased by Rs1,543 to Rs204,818. Similarly, the price of 10 gram 22 karat gold also saw an increase, reaching Rs187,750. According to All Sindh Sarafa Jewellers Association the price of per tola silver increased by Rs10 to Rs2,610 whereas that…
Karachi The Pakistan Stock Exchange (PSX) witnessed a remarkable surge, with the KSE-100 Index reaching a historic high of 67,756.04 points. This surge, a positive change of 1.30%, reflects the growing confidence among investors, especially foreign investors. The uptrend is attributed to various factors, including progress in privatisation efforts and increased foreign portfolio investment in government securities. Analysts anticipate continued positive momentum in the stock market, with particular attention on cement stocks due to expectations of a rate cut in the coming months. The trading volume also saw a significant increase, with 361,823,380 shares traded, valued at Rs11.901 billion as…
Karachi The Rupee experienced a devaluation of 08 paisa against the US dollar in interbank trading on Wednesday (April 3), closing at Rs277.91 compared to the previous day’s Rs277.83. This decline reflects heightened demand for foreign currency, driven by import obligations and repatriation of profits by foreign companies. According to the Forex Association of Pakistan (FAP), the open market rates for the dollar stood at Rs278 for buying and Rs281.75 for selling. Foreign companies operating in Pakistan are actively purchasing dollars to repatriate quarterly profits, adding pressure to the local currency. Additionally, increased import payments have further fueled the demand…
Karachi Amidst slight fluctuations, the Pakistan Stock Exchange (PSX) experienced a bullish trend, with the KSE-100 Index gaining 89.94 points, marking a positive change of 0.13% on Tuesday (April 2). This brought the index to close at 66,886.26 points. Despite some profit-taking activities observed during the day, market participants maintain an optimistic outlook, buoyed by improving economic indicators and stable economic policies. The trading day showcased an active market, with a total turnover of 239,650,377 shares valued at Rs8.940 billion. A notable number of companies, totaling 342, were involved in share transactions, with a majority recording gains. In the future…
Karachi The price of 24 karat gold per tola decreased by Rs500 on Tuesday (April 2), selling at Rs237,100 compared to the previous day’s rate of Rs237,600. The recent decrease in gold prices, both domestically and internationally, has garnered attention from investors and traders. This decline, attributed to a relaxation in international markets, reflects a broader trend of volatility in the gold market. Despite being considered a safe-haven investment during economic uncertainty, gold demand has fluctuated due to various geopolitical and economic factors. Similarly, the price of 10 grams of 24 karat gold saw a decline of Rs429, selling at…
Islamabad The export of goods and services from Pakistan to China experienced a significant surge, increasing by 42.02% during the first eight months of the fiscal year 2023-24 compared to the same period last year, according to State Bank of Pakistan (SBP) data on Tuesday (April 2). This growth is substantial, reaching $1895.720 million from July to February 2023-24, compared to $1334.804 million in the corresponding period of 2022-23, said the SBP data. Year-on-year, exports to China also rose by 20.60%, from $140.166 million in February 2023 to $169.041 million in February 2024. However, on a month-on-month basis, exports to…
Karachi The Pakistani rupee recently saw a commendable uptick of 10 paisa against the US dollar in interbank trading, closing at Rs277.83 on Tuesday (April 2) compared to the previous day’s Rs277.93. Analysts attribute this rise to promising reports indicating an enhancement in exports, as per the latest data from the Pakistan Bureau of Statistics (PBS). During the first nine months of the fiscal year 2023-24, exports surged by 9 per cent, totaling $22.91 billion, compared to $21.04 billion in the corresponding period of the previous fiscal year. According to the Forex Association of Pakistan (FAP), the open market witnessed…
Islamabad The collaborative efforts between the World Bank (WB), International Finance Corporation (IFC), and the Pakistani government underscore a commitment to fostering sustainable development and economic growth in the country. By leveraging the expertise and resources of international financial institutions, Pakistan aims to address key developmental challenges and enhance financial stability. The World Bank (WB) and International Finance Corporation (IFC) here on Monday (April 1) expressed resolve to continue support for Pakistan’s development goals and agendas for the welfare of the people of Pakistan as per reported in APP. The Minister for Finance and Revenue, Muhammad Aurangzeb, was called on…
Islamabad Exports from Pakistan saw an increase of 8.93 percent during the first 9 months of the current fiscal year (2023-24) compared to the corresponding period of the previous year, as reported by the Pakistan Bureau of Statistics (PBS) on Monday (April 1). According to the latest PBS data, exports reached $22.914 billion during July-March (2023-24), up from $21.036 billion in July-March (2022-23), indicating a growth of 8.93 per cent. Conversely, imports into the country decreased by 8.65 per cent to $39.944 billion this year compared to $43.724 billion last year. These figures translate to a trade deficit of $17.030…
Karachi Pakistan witnessed a significant decline in headline inflation based on the Consumer Price Index (CPI) in March 2024, reaching a 21-month low at 23.68 per cent year on year (YoY). This marked a decrease from the 23.06 per cent YoY recorded in February 2024, indicating positive developments in the country’s inflationary landscape. Analysts noted that this is the lowest inflation rate observed in 21 months, down from a peak of 37.97 per cent in May 2023. The moderation in inflationary pressures reflects various factors, including policy interventions and changes in consumer behaviour. On a month-on-month (MoM) basis, CPI inflation…
Riyadh Ahmad Shams El Din, head of research for MENA at EFG Hermes, highlighted the burgeoning indirect investment opportunities in Saudi Arabia’s stock market. In a interview to Al-Ekhbariya, he emphasised the influx of liquidity and interest from global investment funds, attributing it to the Kingdom’s economic growth efforts and that new opportunities were driven by the liquidity witnessed in the Saudi market, reports Arab News . He said the situation has created an incentive for companies to list on the Kingdom’s stock market and the derivatives market. El Din noted that the expanding diversity of sectors represented in Tadawul…
Karachi KSE-100 Index of the Pakistan Stock Exchange (PSX) experienced a bearish trend on Monday (April 1), with a loss of 208.79 points, marking a negative change of 0.31 per cent. It closed at 66,796.32 points, compared to its previous closing of 67,005.11 points on Friday. According to analysts, the trading pattern of the Index on that day displayed mixed performance, fluctuating between intraday highs and lows of 67,304 and 66,741 points, respectively. They attributed the downward trajectory in the stock market to various domestic and global factors influencing investor sentiment, including economic uncertainties, geopolitical tensions, and commodity price fluctuations.…