by Martin Armstrong, FIFA announced Wednesday it had agreed that the sole candidacy to host the 2030 World Cup would be the combined bid of Spain, Portugal and Morocco. In addition, in view of the centenary of the first World Cup, held in Uruguay in 1930, there will also be a ceremony in the country’s capital Montevideo, as well as three opening matches being played in Uruguay, Argentina and Paraguay. The 2030 World Cup will therefore have an unprecedented format, as it will be held in six countries and on three continents (Africa, Europe and South America). Until now, the World Cup has never…
Author: PAGE
by Katharina Buchholz, The World Intellectual Property Organization (WIPO) has released its 2023 Global Innovation Index. It evaluated innovation levels across 132 economies focusing on a long list of criteria such as human capital, institutions, technology and creative output as well as market and business sophistication, among others. The 2023 index has found that while innovation is still blossoming, the coronavirus pandemic and the war in Ukraine have had their effect on the ranking as a range of economies and industries were severely effected. Switzerland topped the rankings once more this year with a score of 67.6 out of 100, the 13th time it…
Written By Stefan Ellerbeck Senior Writer, Forum Agenda The world’s food production system produces more than a quarter of global greenhouse gas emissions. The United Nations says farming must become more sustainable in order to combat the climate crisis and feed a rapidly rising global population. Farmers around the world are using renewable energy in innovative ways to cut costs and reduce their carbon footprint. These include solar panels in sheep fields, geothermal energy to grow flowers and biogas to keep birds warm. There will be 10 billion people in the world to feed by 2050, which will pose an “unprecedented challenge”,…
Written By Robert House, University of Oxford Cars that burn petrol and diesel must be replaced with renewable alternatives if the climate crisis is to be overcome. Electric vehicles (EVs) are widely viewed as the best option available. This is because EVs can be powered by renewable electricity from the grid, avoiding the need for fossil fuels. They can store and release this energy with close to 100% efficiency, whereas the internal combustion engine in most modern cars can only usefully convert about 30% of the energy from fuel. EVs can also be recharged thousands of times, offering lifetime mileages…
Written By John Lotspeich Executive Director, Trillion Trees Initiative (BirdLife, WCS, WWF) Questions have been raised recently as to how effective tree planting is for fighting climate change. The controversy is a distraction; no scientists claim trees alone can solve the climate crisis but evidence shows they have an important role to play. Our first step must be to end our reliance on fossil fuels, but restoring the world’s forests will help safeguard the future of the planet. Recent controversy around whether we should be planting trees to combat climate change is a distraction. No credible scientist or conservationist has ever claimed that…
Written By Liviana Zorzi Specialist, National Plastic Action Partnership, World Economic Forum This article is part of: Centre for Nature and Climate Plastic pollution is a critical challenge for the future of the ASEAN region, with over 31 million tonnes of plastic waste generated annually in six out of ten ASEAN countries. The ASEAN region has huge potential in terms of creativity, innovation and transformative business models. Bold models of cooperation among governments, businesses and civil society can address the plastic crisis. According to United Nations estimates, plastic accounts for 80% of waste in the ocean. Litter and improperly disposed plastic…
Written By Luke Dunning, University of Sheffield; Lara Pereira, University of Sheffield, and Pauline Raimondeau, Yale University Genetically modified (GM) crops may be controversial, but similar processes happen naturally with wild plants. However, scientists have long been puzzled about how these processes happen. Our recent study may help researchers solve the mystery. People often use the “tree of life” as a metaphor to describe the evolutionary relationships between organisms. The more closely related species are, the closer together they appear in the tree. This is a bit misleading though, as reality is more complicated. Species don’t always split off along…
Written By Nasim Pour Lead, Carbon Removals and Market Innovation, World Economic Forum Leila Toplic Chief Communications and Trust Officer, Carbonfuture This article is part of: Centre for Nature and Climate Carbon removal is a strategic imperative for businesses, essential for their future and the well-being of our planet. Investment in carbon removal is critical, not only to remove emissions immediately but also to build market capacity to achieve net zero. Robust digital MRV (Monitoring, Reporting, Verification) systems enable businesses to act immediately. By 2022, emissions had increased by 5%, or 2 billion tonnes, compared to 2015. However, emissions must decrease by…
Written By Nikolaus Lang Managing Director and Senior Partner; Global Leader, Global Advantage Practice, BCG (Boston Consulting Group) This article is part of: Centre for Urban Transformation The automotive industry is fundamentally changing towards software-defined vehicles (SDVs) – unlocking societal and economic value. Over 90% of the accidents caused today by human error can be avoided through advanced autonomous driving. Additionally, the emergence of SDVs will open a significant economic value of over $650 billion by 2030. Cross-industry collaboration and strategic partnerships will be crucial to capture this value. As the automobile morphs right before our eyes – from the old…
Apple is a renowned brand and has gotten thousands of people crazy for it. With every new launch people’s passion increases for the brand. Apple has been famous for bringing the best quality product to its users. The brand is known for its dedication to its audience. From best security features to amazing user experience Apple seems to lead the race among smartphones in all the categories. This is why the brand enjoys a strong position among its customers. People seem to adore the company for its dedication and passion towards the public. With this latest launch of the iPhone…
Introduction Pakistan, an agricultural nation rich in magnificent landscapes, is geographically situated in South Asia. Since its inception, Pakistan has been vulnerable to a myriad of natural disasters in Pakistan, owing to its diverse topography, varied climatic conditions, and its location in a geologically active zone. Throughout its history, the country has been frequently hit by various natural disasters, including earthquakes, floods, droughts, and landslides. These calamities have not only resulted in significant loss of life and property but also posed challenges to Pakistan’s socio-economic fabric. Natural disasters in Pakistan remain a pivotal concern for its sustainability and growth. Floods…
Cricket World Cup is considered one the biggest sports event across the globe. From years-old rivalries to intense moments and a lot of thrill, a World Cup has everything for people fond of cricket. The origin of the game goes all the way back to the historical Lords Cricket Stadium of England. Through its nail-biting encounter, the sport managed to grab the attention of people around the globe. Though this game was born in England but has been adored immensely by the People of the subcontinent. The excitement is all-time high as the nation of India is all ready to…
Cricket of India has recent ascendancy to the number one spot in all three cricket formats – Tests, T20 Internationals, and ODIs – has sent shockwaves throughout the cricketing world. While it’s undoubtedly a moment of pride for Indian cricket fans, it also carries implications for Pakistan cricket. Let’s analyze the potential impacts and measures the Pakistan Cricket Board (PCB) should consider to navigate these changes cautiously. Impact on Pakistan Cricket Rising Competition: With India’s cricket dominance across formats, the competition becomes fiercer. This means Pakistan will face a more formidable opponent on the international stage, intensifying the rivalry between…
Al Baraka Bank (Pakistan) Limited hosted the first of its kind Webinar on the Launch of Al Baraka Group (ABG) Inter-Franchise Collaboration and portal between Al Baraka Bank (Pakistan) Limited (ABPL) and Al Baraka Bank South Africa (ABL SA). This Collaboration was a high priority deliverable for the banks new business strategy aimed at enhancing exports from Pakistan by providing interconnectivity and banking facilitation from ABG offices worldwide. The Webinar focused on connecting Exporters from Pakistan to Importers in South Africa to increase avenues of trade between the two countries. In Pakistan, a physical gathering was held at the Marriott…
Rescuers and relatives of victims set up tents in front of collapsed buildings in Derna, Libya [File: Muhammad J. Elalwany/AP Photo] Published in AlJazeera, on Sep 25th, 2023, Top prosecutor says the mayor of Derna and officials from the Water Resources Authority and Dams Management Authority are ordered arrested. Libya’s chief prosecutor has ordered the detention of eight current and former officials pending his investigation into the recent flood disaster that killed thousands, his office said. Two dams outside the city of Derna collapsed last month, sending a wall of water several metres high through the city and leaving thousands…
Published in Reuters, on Sep 24th, 2023, MANILA, Sept 24 (Reuters) – The Philippines on Sunday accused China’s coast guard of installing a “floating barrier” in a disputed area of the South China Sea, saying it prevented Filipinos from entering and fishing in the area. Manila’s coast guard and Bureau of Fisheries and Aquatic Resources “strongly condemn” China’s installation of the barrier in part of the Scarborough Shoal, Commodore Jay Tarriela, a coast guard spokesperson, posted on the X social media platform, formerly Twitter. The barrier blocking fishermen from the shoal was depriving them of their fishing and livelihood activities,…
Published in The News, on Sep 25th, 2023, By AFP WASHINGTON: President Joe Biden is set to host leaders of Pacific island nations with an aim of countering China’s ever-growing influence, proffering goodies ranging from an American football experience to shiny new embassies. The summit of leaders from the 18-member Pacific Islands Forum will take place on Monday and Tuesday, one year after the first meeting, which was also in Washington. According to senior administration officials, Biden will announce a more assertive US stance in the region, funding for infrastructure projects and strengthened maritime cooperation, in particular to fight against illegal…
File: Israeli soldiers reposition military vehicles including self-propelled artillery during a drill in the occupied Golan Heights on July 17, 2023. [Jalaa Marey/AFP] Published in AlJazeera, on Sep 23rd, 2023, Both sides blamed each other for the violence in Chebaa Farms and the Kfar Chouba hills area. Lebanon’s army said it has fired tear gas at Israeli forces over the border in response to smoke bombs fired at its troops, though Israel has said Lebanon started the confrontation. Tensions have flared along the frontier for the past several months, with rockets fired at Israel during flare-ups of Israeli-Palestinian violence and members…
Published in Dawn, on Sep 25th, 2023, Reuters PARIS: France will pull its soldiers out of Niger following a July coup in the West African country, President Emmanuel Macron said on Sunday, dealing a huge blow to French influence and counter-insurgency operations in the Sahel region. Macron said 1,500 troops would withdraw by the end of the year and that France, the former colonial power in Niger, refused to “be held hostage by the putchists”. France’s exit, which comes after weeks of pressure from the junta and popular demonstrations, is likely to exacerbate Western concerns over Russia’s expanding influence in…
Pro-Khalistan activism has been mostly peaceful, such as this protest in Canada Published in Saudi Gazette, on Sep 25th, 2023, LONDON — Given the dramatic developments in Canada, where PM Trudeau has said there is credible evidence to suggest India was involved in the killing of a Canadian Sikh, it is unsurprising that rumours now swirl around the deaths of other Sikh activists around the world, including in the UK. Avtar Singh Khanda, 35, was well known for his support of the creation of a breakaway Sikh homeland, Khalistan. He died from a sudden illness in Birmingham in June, and…
HANGZHOU: A general view as performers take part in the opening ceremony of the Asian Games at the Hangzhou Olympic Sports Centre Stadium on Saturday.—AFP Published in Dawn, on Sep 24th, 2023, Agencies HANGZHOU: Chinese President Xi Jinping opened the Covid-delayed 19th Asian Games in the Eastern city of Hangzhou during a spectacular and at times raucous ceremony on Saturday, launching a two-week sporting extravaganza that boasts more athletes than the Olympics. Spectators in the city’s 80,000-capacity Hangzhou Olympic stadium, also known as “the Big Lotus”, let out a huge roar as Xi was introduced and walked in to sit…
Published in The Nation, on Sep 23rd, 2023, Anadolu Cristiano Ronaldo on Friday appeared in a video wearing traditional Saudi attire to celebrate the Kingdom’s National Day. The Saudi people are set to mark their 93rd national day on Saturday, September 23, during which military parades, a biker parade, an arms exhibition across major cities will be held, and other festivals. The Saudi Al-Nassr football club, whose Ronaldo is captaining its football team, released the video on its account on X. According to the 2-minute video, Ronaldo, Senegalese footballer Sadio Mane, and their Al-Nassr teammates appeared performing traditional dances with…
Published in Dawn, on Sep 23rd, 2023, AFP LONDON: Seven Caribbean countries will host matches at next year’s T20 World Cup, including Antigua and Barbuda, Barbados and Trinidad and Tobago, the ICC announced on Friday. The ICC awarded the hosting of the event, to be held in June 2024, to the West Indies and the United States in November 2021. Dominica, Guyana, St Lucia and St Vincent and the Grenadines have also been named as hosts. “The matches will again give cricket fans the unique experience of enjoying cricket in the Caribbean,” said ICC chief executive Geoff Allardice. Next year’s…
US and Bahrain sign security deal The US and Bahrain have signed a security and economic agreement, a signal of Washington’s renewed engagement with its Gulf allies and a potential blueprint for follow-on deals with Saudi Arabia and the United Arab Emirates. The deal, agreed by US secretary of state Antony Blinken and Bahrain’s prime minister, Crown Prince Salman bin Hamad Al Khalifa, on Wednesday, would strengthen military and intelligence co-ordination, the White House said. Bahrain, which hosts the US Navy’s Fifth Fleet, is already a non-Nato Washington ally regarded by the west as a bulwark against Iranian influence. UAE…
Tax the rich to protect the poor, IMF tells Pakistan International Monetary Fund (IMF) Managing Director Kristalina Georgieva has advised Pakistan to tax the wealthy and protect the poor. Speaking to a Pakistani private media channel after her meeting with Interim Prime Minister Anwaarul Haq Kakar on the sidelines of the United Nations General Assembly (UNGA) on Thursday, Georgieva said “what we are asking in our programme is that please collect more taxes from the wealthy and please protect the poor people of Pakistan”. Her comments come amid soaring inflation in Pakistan after the country secured a last-minute bailout from…
Phantom V Fold by TECNO is Reshaping Trends in the Foldable Phone Market: Not too long ago, Samsung unveiled its first foldable phone, with other brands such as OPPO, Huawei, and more following suit. However, they encountered their fair share of issues, including loose hinges, screen cracks, and dust accumulation, which gradually improved with each new edition. Now, what’s once again causing a stir in the tech world? Another foldable phone! Yes, you heard it right. TECNO, Pakistan’s premium mobile phone brand, has officially joined the foldable phone club, offering an enticing price point alongside a cutting-edge processor. Ufone 4G…
Dawlance commemorates world ozone day with pledge to protect planet Dawlance is the leading producer of refrigerators and a wide range of home appliances in Pakistan. Dawlance has changed its Refrigerant usage in air conditioners; from R410A to a much safer gas, which will also be recycled in the future, for a sustainable future. Being a wholly owned subsidiary of Arcelik – the second largest manufacturer in Europe, Dawlance believes in a sustainable growth policy: ‘Progress Today – Preserve Tomorrow’, reflecting a strong commitment to social wellbeing. As a socially responsible enterprise, Dawlance continues to invest in innovative technologies that…
Kibor rate is the average interest rate at which term deposits are offered between prime banks in the Pakistani wholesale money market or interbank market. KIBOR as a benchmark, to encourage transparency and improve management of the market risk undertaken by banks. Kibor Rates In Pakistan TENOR BID OFFER 1 – Week 21.20 21.70 2 – Week 21.36 21.86 1 – Month 21.59 22.09 3 – Month 22.35 22.60 6 – Month 22.69 22.94 9 – Month 22.75 23.25 1 – Year 22.77 23.27 Last Updated on 22nd Sep 2023 Source: SBP
by Katharina Buchholz, Despite the push-back against fast fashion, clothing and shoes are the product category that most people around the world are price-conscious about. Clothes and shoes were named as a purchase where low prices are particularly important by more respondents than any other category in 16 out of 18 countries surveyed by Statista Consumer Insights. In China, consumer electronics, defined by the survey as smartphones, TVs and music listening equipment, inspired the most price-consciousness followed by clothing. In Japan, people are eyeing the price of food and drinks the most, followed by detergents and cleaning products. However, price-consciousness in Japan was generally low…
by Martin Armstrong, In the mid-term, nuclear power plants are considered by some experts to be the most efficient transitional solution for achieving global climate goals. Criticism is though levelled at the largely unresolved question of final storage and potential safety risks. As this infographic using data from the World Nuclear Association shows, no country is currently committing more to a nuclear future than China. The Asian superpower currently has 24 new nuclear reactors planned or being built, with one new power plant to be connected to the grid this year. The United Arab Emirates and Turkey are also planning to connect one new power plant…
by Felix Richter, Charging infrastructure plays a pivotal role in facilitating the global shift towards electric mobility. Public charging stations form the backbone of the electric vehicle (EV) ecosystem, addressing range anxiety and ensuring convenient access to charging for EV owners who do not enjoy the luxury of a charging station in their own home or are often on the go. According to the IEA, there were 2.7 million public charging points worldwide at the end of last, more than 900,000 of which were built in 2022. And while most charging needs are still met by home charging, public charging infrastructure is…
by Martin Armstrong, As this chart shows, thanks chiefly to the €77.1 billion in pledged financial aid, European Union institutions are the largest aid donors to Ukraine. This is based on data from the IfW Kiel Ukraine Support Tracker which currently covers the period January 24, 2022 to July 31, 2023. Ukraine’s largest military aid partner since the start of the war, the United States, has committed a total of €69.5 billion in aid when also considering financial and humanitarian support. Germany, the United Kingdom and Norway have been the next most significant pledgers of aid. You will find more infographics at Statista…
by Felix Richter, When Apple unveiled its latest line of smartphones last week, the company simultaneously pulled the plug on some of its older models. Apple discontinued the iPhone 12, the iPhone 13 mini and the iPhone 14 Pro series to make way for the new models, which become available today. Even with the aforementioned models gone, Apple now has an iPhone for (almost) every wallet, starting with the budget-friendly iPhone SE from $429 and ending with the top-of-the-line 1TB iPhone 15 Pro Max for a whopping $1,599 in the United States (and significantly more in other parts of the world). For many years, Apple…
by Anna Fleck, Paris has been named the world’s top city for public transit, according to William Russell’s Global Transport Index 2023. The city’s transport network is praised not only for being affordable (with the average ticket costing just $2.29), but also for having numerous transport options. The report also cites the ten electric scooter schemes available in the city – something that has changed just this month, following a referendum among Parisians to ban rental scooters, which came into place on September 1. As the following chart shows, most of the world’s top-rated public transportation networks are in Europe. Stockholm comes in second…
by Anna Fleck, The tourism industry is slowly recovering from the pandemic after having experienced its deepest shock in history, according to a newly published UN World Tourism Organization report. Needless to say, a lot has changed in the industry since the pre-pandemic year of 2019, including which countries have been able to attract the most tourists. As the following chart shows, where France, Spain and the United States have managed to retain their places as the top three travel destinations worldwide, China and Thailand have disappeared from the roundup, so that all top ten ranks are now taken by countries in Europe and the Americas.…
Written By Eime Tobari Director, Social Value, Avison Young This article is part of: Centre for Urban Transformation Successful urban regeneration projects create social value, but confusion around the concept is a challenge that public-private partnerships face in delivering those projects. The public and private sectors often have different perspectives, drivers and measurements for social value. Understanding perspectives, defining the roles of all stakeholders and then leveraging a framework to identify the ways impact will be planned for, measured and incentivized, is a potential way forward for successful public-private partnerships. What do we call the spectrum of results in real estate…
Written By Sam Glick Partner, Health & Life Sciences, Oliver Wyman Gen Z are the most tech-savvy generation yet and are already using digital tools to manage their health and fitness. The generation born between 1997 and 2012 are also more open-minded about mental health than older generations, and are more likely to seek help. Healthcare companies that embrace Gen Z’s preferences will be better positioned to attract and retain patients in the years to come. The global healthcare industry has been very slowly evolving its business model from one centred on caring for the sick to one that fully embraces…
Written By Simon Glynn Partner and Climate & Sustainability Co-lead, Oliver Wyman Mike Peirce Executive Director of Systems Change, The Climate Group This article is part of: Centre for Nature and Climate Climate action by business has exploded, but more needs to be done to effectuate a full energy transition. Corporate climate leaders recognize that the next stage of action must be qualitatively different. A new survey reveals insights by 200 climate practitioners about how to progress on decarbonization. The step change in corporate climate action in the past few years has been extraordinary. Yet we are more than halfway…
Written By Quynh Do Nhu, Lancaster University and Mark Stevenson, Lancaster University Earlier this year, fast fashion retailer Zara released its first womenswear collection made of recycled poly-cotton textile waste. The collection is available for sale in 11 countries, helping clothing made of blended textile waste reach the mass market. The collection came about after Zara’s parent company Inditex invested in textile recycler Circ. This follows a €100 million (£87 million) deal between Inditex and Finnish textile recycler Infinited Fiber Company for 30% of its recycled output. Zara’s fast fashion rival H&M has also entered a five-year contract with Swedish…
Written By Scott Doughman Chief Business Officer, Seal Storage Technology Artificial intelligence has great potential, but it also creates risks like deepfakes, biased data and data drift. The costs of AI’s misuse are mounting, with vulnerability depending on how organizations manage their own data and internal systems. Using blockchain, decentralized cloud storage would offer a safer alternative. The world is currently undergoing an AI revolution. With this comes great opportunity — but also new challenges and concerns. Deepfakes and data integrity issues, for example, are yet to have a clear answer. The ethical and security implications are alarming as they can…
Written By Douglas Broom Senior Writer, Forum Agenda This article is part of: Sustainable Development Impact Meetings This article was first published on 16 May 2023 and was updated on 21 September 2023. Progress on the global energy transition has seen only “marginal growth” in the past three years, according to a World Economic Forum report. Fast and effective renewable energy innovation is critical to meeting climate goals. Here are five solutions that could help countries meet emissions targets. The need for renewable energy innovation has never been greater. In its 2023 report, Fostering Effective Energy Transition, the World Economic Forum says…
Written By Stéphanie Thomson Writer, Forum Agenda This article is part of:Sustainable Development Impact Meetings Industries like mining are especially complicated to decarbonize, since fossil fuels are baked into their processes. Decarbonizing hard-to-abate industries will instead call for innovation, argue leaders at the Sustainable Development Impact Meetings. The World Economic Forum’s Sustainable Development Impact Meetings are being held from 18 to 22 September in New York. Decarbonization is challenging — the greatest challenge to mankind, according to the IEA — but it’s even tougher to achieve in some sectors than others. “Hard-to-abate sectors basically have fossil fuels baked into their processes,” explains Annie…
Written By Charles Clarke Director of Insurance, International, SecurityScorecard This article is part of: Annual Meeting on Cybersecurity Cyber insurance is the fastest-growing sector in the world’s insurance markets. Cyber insurance is experiencing a rise in claims, resulting in significant losses for cyber insurers and increased premiums. To mitigate risk, organizations need to identify common security vulnerabilities, rank suppliers and partners according to risk, and collaborate with these partners to remediate known vulnerabilities. Cyber insurance is the fastest-growing sector of the world’s insurance markets, but a recent increase in ransomware attacks and business email compromises has led to a sharp uptick in claims, resulting in significant losses…
A man in traditional dress walks through the devastation in Moulay Brahim, Morocco [Simon Speakman Cordall/Al Jazeera] Published in AlJazeera, on Sep 11th, 2023, By Simon Speakman Cordall The earthquake has revealed fault lines in Morocco’s society as residents in the countryside struggle to access aid. Tiniskt, Morocco – The 6.8-magnitude earthquake that ripped through southwest Morocco has also cut through deeper social fault lines, separating the city dweller from those in the countryside and the comfortable from the desperate and poor, whose adobe houses proved no match for the tremors when they came. More than 2,800 people have died so far…
Published in The Nation, on Sep 11th, 2023, Anadolu US President Joe Biden said on Sunday that he does not “want to contain” China but accused Beijing of “changing the rules of the game.” “Really what this trip is about, it’s less about containing China. I don’t want to contain China,” said the US president after a bilateral meeting with Vietnamese Communist Party General Secretary Nguyen Phu Trong in Hanoi, Vietnam. “We are not looking to decouple from China.” He emphasized that Washington does not stand to “hurt China.” However, Biden said the US will “not to sell material that…
Kim and Putin are shown during their 2019 meeting in Vladivostok Published in Saudi Gazette, on Sep 11th, 2023, SINGAPORE — North Korea’s leader Kim Jong Un has reportedly started his journey to Vladivostok for a summit with Russia’s President Vladimir Putin. The armored train that Kim uses for foreign visits appears to have departed Pyongyang, South Korean media reported citing a government official. The meeting is expected to take place as early as Tuesday local time. Russian news agency Interfax has reported earlier that Kim is expected to visit “in the coming days”. If the summit with Putin pushes…
Published in The Nation, on Sep 11th, 2023, News Desk DUBAI-When $6 billion of unfrozen Iranian funds are wired to banks in Qatar as early as next week, it will trigger a carefully choreographed sequence that will see as many as five detained U.S. dual nationals leave Iran and a similar number of Iranian prisoners held in the U.S. fly home, according to eight Iranian and other sources familiar with the negotiations who spoke to Reuters. As a first step, Iran on Aug. 10 released four U.S. citizens from Tehran’s Evin prison into house arrest, where they joined a fifth,…
‘I will remind both countries that any transfer of arms from North Korea to Russia would be in violation of multiple United Nations Security Council resolutions,’ US State Department spokesperson Matthew Miller says [File: Nathan Howard/AP photo] Published in AlJazeera, on Sep 11th, 2023, By Al Jazeera Staff Biden administration says Vladimir Putin is ‘begging’ Kim Jong Un for weapons due to failures with his Ukraine invasion. Washington, DC – As Russian President Vladimir Putin prepares to meet North Korean leader Kim Jong Un, the United States has threatened to “aggressively” enforce existing sanctions and add new ones if Pyongyang provides weapons…
US PRESIDENT Joe Biden attends a meeting with Nguyen Phu Trong, the General Secretary of Vietnam’s Communist Party, on Sunday. — Reuters Published in Dawn, on Sep 11th, 2023, AFP, HANOI: US President Joe Biden hailed closer ties with Vietnam on Sunday as the two countries struck a deal to deepen cooperation, including on semiconductors, but said he was not aiming to contain China. The “comprehensive strategic partnership” with Hanoi is part of Washington’s push to bolster its network of allies around Asia and the Pacific in the face of Beijing’s rising influence. Biden accused Beijing of seeking to bend…
Germany celebrate with the 2023 FIBA World Cup trophy in Manila, the Philippines [Lisa Marie David/Reuters] Published in AlJazeera, on Sep 10th, 2023, Germany beat two-time champions Serbia 83-77 in the final in Manila to lift the men’s basketball World Cup for the first time. Germany have won their first-ever FIBA Basketball World Cup title by beating undermanned Serbia 83-77 in a slugfest of the two European powerhouses in Manila. Germany leaned on a 22-10 surge in the third quarter on Sunday, orchestrated by brothers Franz and Moritz Wagner, to build a cushion and never let go of the lead to win…
Djokovic wins third Grand Slam title of the year [Robert Deutsch-USA TODAY Sports via Reuters] Published in AlJazeera, on Sep 10th, 2023, The Serbian beats Medvedev in straight sets to match Margaret Court’s all-time record haul of 24 Grand Slam titles. Novak Djokovic has emerged from an exhilarating and exhausting US Open final with a 24th Grand Slam title, using every ounce of his energy and some serve-and-volley guile to beat Daniil Medvedev 6-3, 7-6 (5), 6-3 in a match that was more closely contested than the straight-set score indicated. On Sunday, Djokovic, a 36-year-old from Serbia, moved one major singles title…
The Saudi Pro league achieved unprecedented success in the 2023 summer transfer window, solidifying its position as a rising force in international football. Published in Saudi Gazette, on Sep 09th, 2023, RIYADH — The Saudi Pro league achieved unprecedented success in the 2023 summer transfer window, solidifying its position as a rising force in international football. FIFA, the global governing body for football, confirmed that Saudi clubs ranked second in the world in terms of spending on transfer fees, with a remarkable total of $875.4 million invested in international transfers during the mid-year window. This groundbreaking achievement highlights the league’s rapid…
Kuwait parliament allows foreign firms to operate without local sponsors Kuwait’s parliament has approved a proposal to abolish local sponsorship for foreign companies that open branches in the Gulf state. The move by parliament’s financial and economic affairs committee is seen by analysts as a step towards encouraging foreign investment and diversifying the economy, The New Arab’s Arabic-language sister service Al-Araby Al-Jadeed reported. The proposal allows companies to operate directly without a local agent, including those bidding for government contracts. “[This] opens the door wide for competition and reflects positively on improving the quality of services in the state, whether…
Government mulls allowing private sector to import lng A looming dispute between Pakistan LNG Limited (PLL) and Pakistan GasPort Consortium Limited (PGPCL) over the utilisation of excess capacity at an LNG terminal may be resolved as Pakistan’s caretaker government pledges to implement the agreement before September 17, 2023, potentially allowing the private sector to import LNG. PM: Recovery hinges on tax reforms, curbing smuggling Prime Minister Anwaarul Haq Kakar on Thursday outlined the plan for tax reforms through digitisation and underscored the need to improve the tax collection for economic progress. The development came a day after the Federal Board…
vivo Shines Bright at ITCN Asia 2023: Paving the Way for Technological Innovation and Local Manufacturing in Pakistan: vivo, a leading global smartphone brand, enthusiastically participated at ITCN Asia 2023, the premier Information Technology & Telecom Show organized by Ecommerce Gateway Pakistan (Pvt.) Ltd. This event proved to be a remarkable gathering of Pakistan’s entire tech ecosystem under one roof — emphasizing the theme of local manufacturing and technological innovation in Pakistan. ITCN Asia, a three-day extravaganza, provided a comprehensive platform for showcasing solutions across various vital sectors of the economy, including Government, Cloud, Data Center, Cybersecurity, ERP, Education, Banking…
Remarkable feat of EFU General Insurance Solar Clean Energy Participation EFU General Insurance Limited is proud to announce its participation and sponsorship at International Solar Clean Energy Pakistan Conference & Exhibition. The conference serves as a platform to foster discussions, share knowledge, and showcase the latest advancements in solar energy and clean technology. The event brings together industry professionals, governmental bodies, researchers, and stakeholders with the common goal of promoting sustainable and green energy solutions. Spokesperson at EFU General Insurance said “We believe that sustainable and clean energy solutions are crucial for our nation’s future, and we are fully committed…
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 21.41 21.95 2 – Week 21.99 22.49 1 – Month 22.79 23.29 3 – Month 23.68 23.93 6 – Month 24.42 24.67 9 – Month 24.52 25.02 1 – Year 24.61 25.11 Last Updated on 8th Sep 2023 Source: SBP
by Anna Fleck, The average person on the planet could live 2.3 years longer if global particulate pollution levels were reduced to meet the World Health Organization guideline. This is according to research carried out by the Energy Policy Institute at the University of Chicago and published in the Air Quality Life Index 2023. In many countries, this figure is far worse. Bangladesh recorded the worst PM2.5 levels worldwide at 74 ug/m3, a stark contrast to the WHO recommendation of a maximum of 5 ug/m3. If these levels of pollution persist, resident’s lives are estimated to be cut short by an average of…
by Katharina Buchholz, Grocery delivery has long been considered the “last frontier of e-commerce” but with the aid of the coronavirus pandemic and a flurry of new online delivery services popping up in recent years, it has now become quite widespread in many developed and emerging economies. Yet, there are still major differences between countries when it comes to how the groceries usually arrive. India, where companies had been experimenting with different delivery concepts even before the pandemic and offline grocery delivery also exists, is a step ahead of the competition, with a 60 percent of respondents saying they were users of…
by Anna Fleck, The United States has been the main destination for international migrants worldwide since 1970, according to the World Migration Report 2022. In fact, the number of foreign-born people in the country has increased more than fourfold, from fewer than 12 million in 1970 to more than 50 million in 2020. The biggest groups of migrants came from Mexico (10,853,105), India (2,723,764), China (2,184,110), the Philippines (2,061,178) and El Salvador (1,410,659). As the following chart shows, Germany comes in second place in the ranking of countries with the most international migrants. It too has seen numbers skyrocket in recent years, with nearly double…
by Anna Fleck, India received $83.15 billion in international remittances in 2020, according to the World Migration Report 2022. This is the highest figure of any country worldwide, followed some way behind by China with nearly $60 billion and Mexico with roughly $43 billion. International remittances are defined as money sent from workers living abroad to their home countries. The writers of the report highlight that the World Bank’s global data on international remittances does not take into account unrecorded flows through formal or informal channels. This means the data provided is likely below the actual figures. You will find more infographics at Statista
by Katharina Buchholz, The feat of rating the world’s countries from best to worst seems megalomaniac, but the U.S. News and World Report has been successfully publishing a ranking based on these sprawling criteria since 2016. Last week, the 2023 edition was released, showing that the United States had slipped one spot to rank 5. However, looking at all eight editions of the report so far, the U.S. ranked even lower than in 2023 in between 2017 and 2021. The global dislike for then-President Donald Trump has been cited as a reason why the U.S. fared poorly between 2017 and 2020. Averaging out all scores countries have…
by Anna Fleck, Despite seeing an 11 percent fall in its number of ultra wealthy people in 2022, Asia still has more people in the group than Europe. Ultra wealthy people are defined here as those who each have a net worth in excess of $30 million. According to Altrata’s World Ultra Wealth 2023 report, Asia’s number of ultra wealthy people overtook the figure in Europe for the first time back in 2019. Analysts predict that Asia’s global share of ultra high net worth individuals will continue to grow in the coming years and could hit 29 percent by 2027, up…
All cricket fans around the world especially wait for the India-Pakistan match. As they gear up for the Asia Cup 2023, there’s an electrifying sense of anticipation surrounding the highly anticipated clash between arch-rivals India and Pakistan. This tournament has taken on an even greater significance, not just as a showcase of cricketing excellence, but as a battleground for the intense rivalry between these two cricketing giants. With Pakistan recently ascending to the No. 1 spot in the ICC Men’s ODI Rankings, the showdown between India and Pakistan becomes a crucial pivot in determining their rankings fate and World Cup…
– Marhaba exporting superior quality natural products to over 40 countries – Marhaba set to explore new horizons Under Hakeem Muhammad Usman leadership Marhaba Laboratories (Private) Limited established in 1975, introduced Pakistan’s purest range of natural products under the umbrella brand name ‘Marhaba’, and over the years it has continuously innovated to create world-class research laboratories. Marhaba has the largest and best-equipped production facilities for health and consumer products. Marhaba is one of the fastest-growing companies providing healthy food products, herbal medicines, and natural cosmetics. Due to market confidence and acceptance at mass levels, Marhaba has become Pakistan’s No.1 natural…
French President Emmanuel Macron delivers a speech as he meets the French community in Beijing, China, April 5, 2023 [Gonzalo Fuentes/Reuters] Published in AlJazeera, on Aug 28th, 2023, Macron insists that France will not change its position in condemning the coup and offering support to removed President Bazoum. France’s ambassador to Niger will stay in the Sahel country despite pressure to leave from leaders of a recent coup, President Emmanuel Macron has said. On Monday, he also reiterated France’s support to Niger’s overthrown President Mohamed Bazoum, whose decision not to resign Macron called courageous. Macron also said Paris would support…
Nepal’s famed Gurkha soldiers have served in the Indian army for decades Published in Saudi Gazzete, on Aug 28th, 2023, KATHMANDU — For decades, Nepal has allowed its ethnic Gurkha soldiers to join the Indian army under a special agreement. The practice came to an abrupt halt last year after India introduced a controversial new army hiring plan, straining ties between the two neighboring countries. The Gurkhas, famed for their ferocity and bravery, have fought several wars over the decades for both the Indian and British armies. They were first recruited by the British East India Company in 1815 following…
The National Committee of Arab Local Councils in Israel has accused Smotrich (above) of racism [File: Menahem Kahana/Reuters] Published in AlJazeera, on Aug 28th, 2023, Israeli Finance Minister Bezalel Smotrich said the money was prompting crime among Palestinian communities, triggering outrage. Israeli Finance Minister Bezalel Smotrich has said his ministry would unblock funds for Palestinian communities in Israel, after he had previously suspended the money, saying it was fuelling crime, and triggering outrage from local mayors and some lawmakers. Smotrich, a member of Prime Minister Benjamin Netanyahu’s far-right government, said this month that some of the budget funds meant for…
Published in ARY News, on Aug 27th, 2023, By Reuters MOSCOW: President Vladimir Putin has ordered Wagner fighters to sign an oath of allegiance to the Russian state after a deadly plane crash believed to have killed Yevgeny Prigozhin, the volatile chief of the mercenary group. Vladimir Putin signed the decree bringing in the change with immediate effect on Friday after the Kremlin said that Western suggestions that Prigozhin had been killed on its orders were an “absolute lie”. The Kremlin declined to definitively confirm his death, citing the need to wait for test results. Russia’s aviation authority has said…
Street protests in support of prisoners hunger striking [Courtesy of Bahrain Institute for Rights and Democracy (BIRD)/Al Jazeera] Published in AlJazeera, on Aug 28th, 2023, By Urooba Jamal Advocates say that prisoners are protesting against dire conditions – and that the government’s reforms are not enough. Ebrahim Sharif still recalls seeing blood on the walls of the military prison he was jailed in, shortly after demonstrating in Bahrain’s Arab Spring protests of 2011. The then-secretary general of the Gulf country’s largest leftist political party – the National Democratic Action Society (Wa’ad) – was rounded up alongside other protesting leaders at that time,…
Published in Reuters, on Aug 26th, 2023, By Boureima Balima NIAMEY (Reuters) – The junta in Niger has ordered its armed forces to go on highest alert, citing an increased threat of attack, according to an internal document issued by its defence chief on Friday that a security source in the country confirmed was authentic. The document, which was shared widely online on Saturday, said the order to be on maximum alert would allow forces to respond adequately in case of any attack and “avoid a general surprise”. “Threats of aggression to the national territory are increasingly being felt,” it said.…
Published in Geo News, on Aug 28th, 2023, Ace javelin thrower Arshad Nadeem made history on Sunday as he became the first Pakistani to clinch silver medal at the World Athletics Championship. People belonging to all walks of life including the prime minister, politicians among others heaped praised on the thrower for making the country proud. Arshad Nadeem, coming back from elbow surgery and a knee injury, produced his season’s best effort of 87.82-meter on his third attempt to win the silver medal, while Olympic champion Neeraj Chopra became the first Indian to win a gold medal at the World…
Published in AlJazeera, on Aug 28th, 2023, Mancini, who led Italy to the Euro 2020 title but failed to take them to the Qatar World Cup, had quit as Azzurri boss earlier this month. Roberto Mancini has been named as the new coach of the Saudi Arabia national team on a deal reported to be worth more than $25m a year, after his surprise decision to quit the Italy job earlier this month. The Saudis, who beat eventual champions Argentina at last year’s World Cup in Qatar, have been without a coach since Herve Renard left to take charge of France women’s team. end…
Faith Kipyegon creates history with double win at World Athletics Championships. Twitter Published in Geo News, on Aug 28th, 2023, Faith Kipyegon of Kenya secured a momentous victory at the World Athletics Championships in Budapest by triumphing in the 5,000m race. Adding to her recent win in the 1500m, Kipyegon displayed her exceptional distance running brilliance once again. The 29-year-old Kenyan timed her move perfectly, accelerating in the final lap to clinch the gold medal with a time of 14 minutes and 53.88 seconds. The race witnessed a determined challenge from Dutch athlete Sifan Hassan, who settled for silver with…
UAE says not flouting ally sanctions as its economy warms to Russia The United Arab Emirates has said it is careful not to violate sanctions imposed by its Western allies on Russia over the war in Ukraine, after a Wall Street Journal (WSJ) report claimed the country was aiding Moscow by providing an outlet for Russian money. A UAE official, however, said the country has a robust process to deal with sanctioned people and companies, and is in close contact with the United States and the European Union about the war’s implications for the global economy. The official, quoted by…
Pakistan got over $5 bn in fresh loans in July Pakistan got over $5 billion in fresh loans in July, which was the highest amount received in any month, to meet project and foreign exchange reserve requirements, as the interim government sought a review of the annual financing plan in light of the prevailing economic conditions. According to provisional statistics compiled by the Ministry of Economic Affairs and the State Bank of Pakistan (SBP), there was a massive jump in inflows of foreign loans after Islamabad struck a nine-month deal with the International Monetary Fund (IMF). Pakistan received $2.9 billion…
How Wateen is Impacting Industries Digital Transformation: As technology advances, digital transformation has become essential in industries, and it is accelerating worldwide! Almost every business vertical is adopting the digital revolution for a better tomorrow by using managed connectivity solutions and equipping businesses with new technologies. This significant transition ensures a seamless journey into the digital world for a future that promises optimized operations and unlimited potential in a connected or interconnected landscape. Microsoft Paint Will Soon Let You Create Images With Just Words: The AI hype has taken the tech industry by storm and Microsoft Paint is going to…
UBL, Bank Alfalah celebrate independence day with overseas Pakistanis Overseas Pakistanis are one of our nation’s most valuable assets. With almost 9 million overseas-Pakistanis spread across the globe, their contribution to Pakistan. Especially its economy, through remittances, cannot be underscored enough. Pakistani banks as institutions which channelize these remittances play a vital role in streamlining the process and bringing the overseas Pakistanis closer to home and their loved ones. As part of commemorating Pakistan’s 76th Independence Day, United Bank Limited (UBL) and Bank Alfalah (BAFL) in association with State Bank of Pakistan’s Remittance Initiative held two back-to-back events in Dubai,…
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 21.58 22.08 2 – Week 21.69 22.19 1 – Month 21.93 22.43 3 – Month 22.83 23.08 6 – Month 22.91 23.16 9 – Month 22.93 23.43 1 – Year 22.94 23.44 Last Updated on 28th Aug 2023 Source: SBP
by Anna Fleck, Aug 29, 2023 More than two million men and women have served on more than 70 UN peacekeeping missions since 1948, 12 of which are still active today. Peacekeepers monitor peace processes in post-conflict areas and assist with the implementation of peace agreements and the protection of civilians. The UN states that Bangladesh was the top contributing country in terms of personnel deployed globally as of May 2023 with 7,278 peacekeepers, while Nepal provided the second largest contribution with 6,231 and India ranked third with 6,089. There were 76,694 uniformed personnel deployed worldwide on peacemissions, the majority of whom (65,607) were troops. While richer…
by Katharina Buchholz, Aug 28, 2023 According to a report by marketing firm IZEA, video posts earn a premium for content creators and influencers, may they be on TikTok, Instagram Stories, Twitch or YouTube. While photo-based paid posts on Facebook, Instagram, Pinterest or Twitter cost between $642 and $1,643 in 2022, a single post on YouTube and TikTok ran much higher, averaging between $2,102 and $2,741. An Instagram Story even brought in an average of $2,784 – barely below the price for a combination of two static posts on Facebook and Instagram. That’s still considerably cheaper than a Twitch video sponsorship which cost a hefty $4,373…
by Anna Fleck, Aug 25, 2023 The following chart shows the recorded number of third country nationals who were deported following an order to leave one of the member states or EFTA countries in 2022. According to the Eurostat database, France carried out the highest number of deportations at 14,240 people that year (14 percent of the bloc’s total returns), followed by Germany with 13,130 people (13 percent) and Sweden with 10,490 people (10 percent). The 10 year annual average for asylum applicants in each country included on the chart highlights how the highest number of asylum applicants and highest number of…
by Anna Fleck, Aug 25, 2023 In its latest annual report, Swiss bank UBS reveals there has been a slight downtick in global wealth inequality, with the share of wealth held by the world’s richest 1 percent falling to 44.5 percent in 2022, from 45.6 percent in 2021. Notably, the number of U.S. dollar millionaires worldwide has fallen by 3.5 million in 2022, to 59.4 million (based on global wealth). As the study’s authors note, this figure does not take into account the 4.4 million “inflation millionaires” who would no longer be eligible if this wealth threshold had been adjusted for inflation…
by Anna Fleck, Aug 24, 2023 An estimated 50 million people were living in modern slavery as of 2021, according to the Walk Free’s flagship report Global Slavery Index 2023. North Korea is the country with the highest rate of people experiencing modern slavery in 2023, with as many as 104 people living under these conditions out of every 1,000 inhabitants. It is followed by Eritrea with 90 people per 1,000 inhabitants, Mauritania with 32 per 1,000 and Saudi Arabia with 21 per 1,000. In terms of the largest estimated absolute numbers though, India ranks first (11,050,000 people in modern slavery), followed by…
by Katharina Buchholz, Aug 23, 2023 Only nine nations (or political unions) have been to the moon, its orbit or its vicinity as part of a successful or semi-successful missions – and the runner-up doesn’t even exist anymore. This is the tally of moon missions long after the first race for space that saw the U.S. and the USSR square off in the 1950s, 60s and 70s and at the recent beginning of the new era of moon missions that included the participation of new national and private sector actors. The U.S. tops the current list, with 42 completed successful or semi-successful…
Written By Charlotte Edmond Senior Writer, Forum Agenda The medical diagnostics market is rapidly growing and becoming more high-tech. Sensors in contact lenses, shopping trolleys and restrooms are some of the more surprising places the technology is cropping up. A World Economic Forum report highlights how diagnostics will be key to ensuring equality of care and access to therapeutics. The adage “prevention is better than a cure” is never truer than when applied to healthcare. And a growing diagnostics market is helping make that a reality. Healthcare systems around the world are increasingly adopting medical technologies that support intervention at an earlier stage.…
Written By Douglas Broom Senior Writer, Forum Agenda This article is part of: Centre for Regions, Trade and Geopolitics Global economic turmoil is creating growth opportunities in Africa, a new report says. The UN says African nations can play a major role in global supply chains for sustainable industries. A World Economic Forum insight report identifies opportunities in automotive, agriculture, pharmaceuticals and transport. Africa is on the cusp of a new era of prosperity as a manufacturing centre for high-tech industries and a key link in global supply chains, a new report from the United Nations trade body United Nations Conference…
Written By Noam Peleg Senior Lecturer, Faculty of Law and Justice; Associate, The Australian Human Rights Institute, UNSW Sydney This article is published in collaboration with The Conversation The UN Committee on the Rights of the Child has detailed how governments can protect children’s rights in the face of climate change. Their statement says that climate change is a ‘child rights crisis’ and that governments have a legal obligation to take action. But the real test will be in implementation. Climate change is not just an environmental crisis, it’s a human rights crisis. And the humans to be most affected by climate catastrophe…
Written By Emma Charlton Writer, Forum Agenda A pioneering wind-powered cargo ship has set out on its maiden voyage It has been fitted with giant, rigid sails that help the ship save fuel and reduce emissions. It is estimated the shipping industry is responsible for about 2.1% of global carbon dioxide (CO2) emissions. The shipping firm which has chartered the vessel hopes the technology will help the industry chart a course towards a greener future. A cargo ship, typically a dirty oil guzzler, has taken to the open seas with a new green, clean technology onboard. The first vessel of its…
Written By Emma Charlton Writer, Forum Agenda Switzerland is building an underground network to transport freight that should be operational by 2031. Underground pods for freight alleviate surface traffic congestion, reduce emissions and help ensure consistent delivery schedules. As populations increase, transportation of people and goods needs to improve in tandem and the future of mobility is a key plank of the World Economic Forum’s work. British punk rock band The Jam sang about “going underground” back in 1980 and, almost a decade before that, fictional children’s TV characters The Wombles created a subterranean network to collect and recycle human rubbish…