Bank Makramah Limited (BML) is making significant strides in its recapitalization efforts, reinforcing its commitment to long-term financial stability and growth. This progress is supported by a recent PKR 5 billion deposit from His Excellency Nasser Abdulla Hussain Lootah, BML’s esteemed Sponsor. This amount, to be recorded as an advance against share subscription pending regulatory approvals, follows his earlier PKR 10 billion capital injection in 2023. In addition, the proposed merger of Global Haly Development Limited, a company owned by the Sponsor, into BML reflects his substantial commitment, which will total PKR 41 billion. The Bank extends its deepest gratitude…
Author: PAGE
Pakistan Railways, the state-owned railway company of Pakistan, is one of the oldest and most significant transport systems in the country. Established during the British colonial period in 1861, it has since been a vital component of Pakistan’s economy, society, and infrastructure. With its vast network, Pakistan Railways connects major cities, facilitates trade, and serves millions of passengers annually, making it a true backbone of national connectivity. Historical Legacy of Pakistan Railways The origins of Pakistan Railways trace back to the Scinde Railway Company, which laid the first tracks between Karachi and Kotri in the mid-19th century. After independence in…
Earthquakes are one of nature’s most powerful and unpredictable phenomena, capable of shaking the ground and altering landscapes in just moments. But why do earthquakes occur? To understand the cause of earthquakes, we need to look deep inside the Earth and understand its dynamic structure. The Earth’s Layers and Tectonic Plates The Earth is made up of several layers — the inner core, outer core, mantle, and crust. The crust and the uppermost part of the mantle form a rigid shell called the lithosphere, which is broken into huge pieces called tectonic plates. These plates are not stationary — they…
Descon Oxychem Limited, a leading producer of hydrogen peroxide, is pleased to announce the appointment of Yasir Siddique Sheikh as its new Chief Executive Officer. With over two decades of multifaceted experience, Yasir brings a deep understanding of finance, operations, and strategic leadership to his new role. He most recently served as Chief Financial Officer (CFO) at Descon Engineering Limited, where, over a five-year period, he was instrumental in driving capital optimization, performance improvement, and long-term sustainability. Yasir has also held the position of CFO at Descon’s Chemicals business, where he led key initiatives in financial planning and business strategy…
Punjab Education Foundation (PEF), Karandaaz Pakistan, the National Institute of Banking and Finance (NIBAF) Pakistan – a subsidiary of the State Bank of Pakistan, and the Bank of Punjab (BoP) have formalized a partnership through a signing ceremony to launch a joint initiative for delivering financial literacy as supplementary education across PEF schools in Punjab. This initiative aligns with the Pakistan’s National Financial Inclusion Strategy (NFIS) and National Financial Education Roadmap (2025–2029), which envisions integrating financial literacy content in the National Curriculum by year 2028. The initiative would impart financial literacy to over 100,000 students. Nearly 2,000 teachers and 25…
Ali Salman Syed has made history by becoming the first Pakistani to receive the President’s Award of Honor from EC-Council University, one of the world’s foremost institutions in cybersecurity education. The President’s Award of Honor is the highest academic recognition presented by EC-Council University. It is awarded to students who demonstrate exceptional academic performance, uncompromising ethical standards, and forward-thinking innovation in the field of cybersecurity. This award not only reflects mastery of the subject matter but also the embodiment of leadership and social responsibility in a rapidly evolving digital world. Ali Salman Syed is the Principal Solutions Architect for the…
Pakistan’s leather industry stands as one of the oldest and most significant sectors of its economy, blending centuries-old craftsmanship with modern industrial techniques. As one of the country’s largest export-oriented industries, it plays a crucial role in earning foreign exchange and providing employment to hundreds of thousands of people. A Heritage of Craftsmanship Leather production and tanning have been part of the subcontinent’s heritage for centuries. In Pakistan, this craft flourished after independence in 1947, with the establishment of tanneries and leather goods workshops in cities like Karachi, Lahore, and Sialkot. Over time, Pakistan has earned a reputation for producing…
Pakistan, a country blessed with diverse landscapes and abundant natural resources, is increasingly turning its attention to renewable energy. With a growing population and rising energy demands, the nation faces a persistent energy crisis. Heavy reliance on imported fossil fuels and outdated infrastructure has resulted in high costs, frequent power outages, and environmental degradation. However, renewable energy resources offer a promising path toward a sustainable, affordable, and cleaner energy future. The Need for Renewable Energy in Pakistan Pakistan’s energy sector is heavily dependent on thermal power, primarily fueled by imported oil and gas, which accounts for more than 60% of…
by Felix Richter With the technological advancements of the past two decades, a lot of new challenges have emerged for parents of young children. As they try to navigate the ever-evolving media and device landscape, it’s as difficult as it is important to strike the right balance between giving kids the chance to learn how to use technology and protecting them from the potential harm that early (over)use of smartphones and social media can doubtlessly inflict on a child’s development. Given the complexity of the task at hand and the lack of past experience to draw from, it’s understandable that many…
by Thomas Hinton, When asked about their ability to attract talent to their industry, at least half of employers in the real estate, hospitality, and chemical sectors expressed little optimism. According to the 2024 Future of Jobs report published by the World Economic Forum, 55% of employers in accommodation, food, and leisure report difficulty finding talent and this sentiment is even more pronounced in real estate. At the other end of the spectrum, only about a quarter of employers in healthcare, telecommunications, and education shared the same concern. You will find more infographics at Statista
by Katharina Buchholz Newly published data by Henley & Partners shows that while China and India were still losing the most millionaires (or billionaires) to emigration in 2023, the United Kingdom’s millionaire flight is surging to the top position this year. Some British millionaires have said they are leaving due to the end of the non-domestic tax status rule in the country. The Tax Justice Network points out that even with the increase, the share of those departing is still very low compared to all millionaires. The 142,000 millionaires projected to be migrating this year only represent 0.2 percent of all millionaires globally, its release says. After…
by Katharina Buchholz The number of millionaires rose fastest over the past 10 years in Montenegro, the United Arab Emirates and Malta, according to a new report by Henley & Partners. The growth by up to 124 percent was largely driven by millionaires immigrating to the locations, the researchers concluded. Malta’s and Montenegro’s investment for citizenship schemes are playing a role here as well as the two countries’ mild climate and natural beauty which is attracting the super-rich and has led to a boom in luxury real estate and other lux offerings. The United Arab Emirates has long been known as a luxury destination for expats…
by Felix Richter As China’s economy continues to grow, so does its demand for energy. With rapid industrialization, urbanization and rising living standards, the country has seen a steady increase in energy consumption over the past decades, with per-capita electricity use growing nearly seven-fold between 2000 and 2023, according to the International Energy Agency. Meeting this growing demand while reducing reliance on fossil fuels has become a central challenge for China, which is also the world’s largest carbon emitter. In response, China has launched an aggressive push to scale up renewable energy. In 2024 alone, it added an unprecedented 445 gigawatts of renewable…
by Felix Richter After an initial surge in oil prices following the U.S. attacks on Iranian nuclear sites on the weekend, the price of Brent crude oil futures moderated through Monday, trading around $77 per barrel as the world anxiously awaits Iran’s response to the strategic attacks. With the U.S. now directly involved in the Israel-Iran conflict, fears of Tehran disrupting the global oil supply in retaliation have intensified. Due to its large reserves and strategic geographic position, Iran plays a significant role in the global oil market, giving the country a valuable bargaining chip in international negotiations. According to the U.S. Energy Information…
by Katharina Buchholz, A report released today by the World Meteorological Organization shows that temperature warming in Asia has increased fast over the past decades. In the years between 1991 and 2024, the continent has been warming at a rate of 0.45 Celcius per decade. This is more than double the rate the continent experienced between 1961 and 1990 and almost double the current global average. Looking at the 1991 to 2020 average, temperatures in Asia were 1.04° Celcius above this threshold in 2024, making the year the hottest i.e. second-hottest on record depending on the dataset. Sea surface temperature also reached record highs last year.…
Shipping in Pakistan plays a pivotal role in driving the nation’s international trade and economic stability. As a country with a strategic coastline of over 1,000 kilometers and major ports like Karachi, Port Qasim, and Gwadar, Pakistan’s shipping industry is a lifeline for imports and exports. With the China-Pakistan Economic Corridor (CPEC) and regional connectivity projects gaining traction, shipping in Pakistan is undergoing a transformation. Major Shipping Ports in Pakistan – Karachi Port The largest and oldest seaport. Handles over 60% of the nation’s cargo. Equipped with modern container terminals. – Port Qasim Situated near Karachi, it manages around 35%…
Education is the cornerstone of a nation’s progress, yet in Pakistan, the sector continues to face deep-rooted challenges despite decades of reforms. From outdated curricula to disparities in access, the education system in Pakistan reflects both the aspirations and the struggles of a developing country striving to educate over 240 million citizens. A Fragmented Structure Pakistan’s education system is divided into several tiers: primary (grades 1–5), middle (6–8), secondary (9–10), higher secondary (11–12), and tertiary education (universities). It is further split between public and private institutions, and within the public sector, the divide is even deeper due to provincial autonomy…
Pakistan’s Information Technology (IT) sector has emerged as a key player in the country’s economic transformation. With a youthful, tech-savvy population and increasing digital adoption, Pakistan is carving out a space for itself in the global IT market. From software exports to startups and freelancing, the IT sector is poised for exponential growth, making it one of the most promising industries for investors, professionals, and policymakers alike. 1. Rapid Growth and Global Recognition Over the past decade, Pakistan’s IT exports have seen consistent growth, crossing $2.5 billion in 2024, according to the Pakistan Software Export Board (PSEB). With over 6,000…
KPITB Seamlessly Automating Citizen Centric Service Delivery: The Khyber Pakhtunkhwa Information Technology Board is rapidly automating public service delivery across all departments. Under the Vision 2030 of reform. perform. transform. The KPITB aims to go cashless. Recently, the Khyber Pakhtunkhwa cabinet has approved Pakistan’s first public Digital Payments and FinTech Strategy.The FinTech Strategy includes the digitization of departments, the eradication of cash-based transactions, and ensuring a cashless KP by 2030. Under these efforts, the KPITB has fully automated the arms license section of the KP Home Department. Citizens are paying through “Paymir” – the KP’s digital payment gateway- and applying…
TCL introduces freshin 3.0 air conditioners at ‘Freshin Experience’ event, promoting smarter, healthier living TCL, Pakistan’s No. 1 LED TV brand and a global leader in smart home technology, hosted an immersive lifestyle experience at AristoPolo, DHA Phase 8, Lahore, to mark the official launch of its latest innovation, the TCL FreshIN 3.0 Air Conditioner. The event set the tone for a new era of fresh, healthy, and intelligent living with the introduction of TCL’s most advanced air system to date. Bringing together a curated mix of lifestyle and wellness influencers, celebrities, and TCL’s business partners from across Pakistan, 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 10.94 11.44 2 – Week 10.92 11.42 1 – Month 10.89 11.39 3 – Month 10.90 11.15 6 – Month 10.88 11.13 9 – Month 10.82 11.32 1 – Year 10.81 11.31 Last Updated on 30th June 2025 Source: SBP
Imran Raza Jaffry, a seasoned professional with over 20 years of experience in risk management and underwriting, is making waves in Pakistan’s insurance sector through his insightful publications. Following the success of his first book, “Navigating the Insurance Spectrum: An Overview Analysis of Types,” Jaffry is now set to release his second title, “Blueprint of General Insurance: Concepts, Practice, and Global Perspectives.” His first book, published via Lulu.com (United States), is available through major global platforms including Amazon, Kobo, Apple Books(United States), Booktopia (Australia), Gandhi (Mexico), Rakuten (Japan), PCHome (Taiwan), Everand, Exlibris (Switzerland), FNAC (France), and Books2Read. The book has…
The insurance sector in Pakistan plays a critical role in the country’s financial ecosystem by providing risk management, financial security, and investment opportunities to individuals and businesses. Over the past decade, this sector has experienced gradual growth, supported by regulatory reforms, rising financial awareness, and digital transformation. However, the industry still faces numerous challenges that hinder its full potential. Overview of the Insurance Industry Pakistan’s insurance sector is broadly divided into two main categories: life insurance and non-life (general) insurance. Life insurance, led by companies such as State Life Insurance Corporation (SLIC), covers policies related to individual and group life,…
Introduction As the world shifts toward cleaner, greener modes of transport, Pakistan stands at a pivotal crossroads. With increasing urban pollution, rising fuel costs, and energy security concerns, Electric Vehicles (EVs) offer a promising solution. While the global EV revolution is well underway, Pakistan’s journey is just beginning—fraught with challenges, yet filled with potential. EV Market Overview in Pakistan The Pakistani EV market remains in its infancy. Although a handful of electric bikes, rickshaws, and imported electric cars have trickled into the market, large-scale adoption is still limited. According to Pakistan’s Electric Vehicle Policy 2020–2025, the government aims to convert…
Pakistan’s banking system serves as the backbone of the country’s financial infrastructure, playing a critical role in capital mobilization, economic development, and monetary policy implementation. Over the decades, it has undergone significant transformation—from a state-dominated sector to a more liberalized and technologically evolving landscape. Historical Evolution The origins of Pakistan’s banking system date back to its inception in 1947. The State Bank of Pakistan (SBP) was established in 1948 as the central bank, tasked with regulating currency, credit, and monetary policy. The early years were marked by the establishment of national banks, including Habib Bank and National Bank of Pakistan,…
Introduction The ozone layer, often referred to as Earth’s “protective shield,” plays a vital role in preserving life on our planet. Located in the stratosphere, it absorbs most of the Sun’s harmful ultraviolet (UV) radiation. Without this thin layer of gas, humans and ecosystems would be at serious risk. In recent decades, increasing pollution and chemical emissions have severely damaged the ozone layer, but global efforts are slowly helping it recover. Understanding its role and the threats it faces is essential for a sustainable future. What is the Ozone Layer? The ozone layer is a region of the Earth’s stratosphere…
Pakistan’s largest telecommunication and digital services provider, PTCL Group (PTCL & Ufone 4G), has partnered with TPL Insurance to launch a groundbreaking financial guarantee system aimed at adoption of digital tools, handhelds and IoT equipment across industries and organizations irrespective of their size. This game changing collaboration allows PTCL group to take its Device-as-a-service portfolio to new heights while offering ease of payments and significantly reducing the upfront investment overheads for small and large businesses alike. Under the program PTCL Group will offer a rich spectrum of devices covering flagship phones, tablets, customized handhelds, IoT, digitalizing and networking equipment. Thanks…
Standard Chartered Bank Pakistan has launched an exciting new campaign titled, “Score Your Goals,” offering clients a once in a lifetime opportunity to watch Liverpool FC live at Anfield through a unique investment led reward programme. Running until 31st August 2025, the campaign invites clients to invest in selected wealth and insurance solutions including mutual funds and government securities across both conventional and Shariah-compliant options. In return, clients can earn entries into a grand prize draw where five lucky winners will enjoy the full Liverpool FC experience -including return airfare, hotel accommodation, and matchday access at the iconic Anfield Stadium.…
In 2025 GCC public spending projected to hit $542bn Total public spending by the six Gulf Cooperation Council (GCC) countries is expected to reach $542.1bn in the 2025 financial year, according to data released by the GCC Statistical Center (GCC-Stat). According to a report published by the state news agency, WAM, the six member states — the UAE, Saudi Arabia, Oman, Kuwait, Qatar, and Bahrain — have largely projected higher public expenditures compared to 2024, directing increased funds toward infrastructure completion and targeted economic sector growth in line with long-term development strategies. GCC-Stat data shows that government revenues across the…
Budget for FY 2025-26 arrives at a critical juncture The federal budget for FY 2025-26 arrives at a critical juncture. As Pakistan grapples with economic fragility, youth unemployment and declining investor confidence, the technology sector still offers one of the few credible paths towards sustainable growth. But even this promise risks fading, choked by a familiar cycle of lofty declarations with little follow-through. For years, slogans like Digital Pakistan, IT exports and Startup Pakistan have echoed across stages and press conferences. Yet these remain ceremonial, rarely backed by budgetary or institutional commitment. The FY26 budget, like many before it, acknowledges…
Yango Signs MoU with Islamabad Capital Territory Police to Enhance Rider Safety Through Smart ICTP and Taxi Verification Integration Yango Pakistan, part of the tech company Yango Group, has signed a Memorandum of Understanding (MoU) with the Islamabad Capital Territory Police (ICTP) to strengthen urban safety through the integration of ICTP’s public security tools into Yango’s technology ecosystem. This collaboration aims to raise public awareness and encourage the use of the Smart ICTP app and the Taxi Verification App, both developed by the ICTP, to help citizens access essential safety services. Under the agreement, Yango will feature the Smart ICTP…
AHS Nexus revolutionizes digital innovation with advanced data solutions AHS Nexus is a pioneering educational and consultancy hub dedicated to empowering individuals and businesses with its advanced data-driven solutions. AHS Nexus offers a comprehensive range of services, including expert consultancy, advanced IT solutions and trusted halal certification. The goal is to bridge the gap between theory and practice, equipping individuals with the skills and knowledge to succeed in today’s dynamic world. Founded with the vision to accelerate technological advancement, AHS Nexus collaborates with top-tier institutions to design and implement next-generation digital solutions that meet the unique needs of the IT…
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 10.76 11.26 2 – Week 10.73 11.23 1 – Month 10.72 11.22 3 – Month 10.85 11.10 6 – Month 10.84 11.09 9 – Month 10.82 11.32 1 – Year 10.84 11.34 Last Updated on 16th June 2025 Source: SBP
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,…
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…