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Amid a substantial downturn in Chinese investment in the China-Pakistan Economic Corridor (CPEC), several major Chinese companies have withdrawn from the proposed acquisition and investment in state-run Pakistan Steel Mills. The decision marks a setback for the privatization of this largest non-functional 19,000-acre industrial facility. Before ceasing its operations in June 2015, the facility was…
Pakistan’s weekly inflation rate eased by a third of a percentage point over the previous week driven by a decline in some kitchen items’ prices, especially pulses, chicken, onions, rice, sugar, and wheat flour. During the week ending on October 26, chicken prices in one week dropped by 10.2 percent to Rs312/kg, while onions became…
Pakistan’s has ceased the revalidation of the auto parts imports quota of three Japanese carmakers Toyota, Honda and Suzuki for violating the requirements of auto policy 2021-26. No license has been suspended. They policy calls for localization of vehicles while these companies are importing over 75 percent from japan including engines. Besides, the policy has…
In a major move, the United States imposed sanctions on three Chinese companies on Friday for their alleged involvement in providing Pakistan with ballistic missile technology and components, a statement of the U.S. State Department said. It says that the sanctions were imposed in alignment with the global nonproliferation regime. The sanctions come after Pakistan…
As the Earth gets hotter because of climate change, the bird nesting becomes tougher and they hardly find safe places in farmlands to lay eggs and raise chicks. It leads to 46 percent fewer chances to have at least one chick when it gets really hot. A study by researchers looked at a big database with…
The Board of Directors (BoD) of Pak Suzuki Motor Company (PSMC) announced its decision to acquire all outstanding shares of the company and delist from the Pakistan Stock Exchange (PSX), as disclosed in a notice issued to the bourse on Thursday. The decision, made during a BoD meeting of the Suzuki motors, follows the PSX…
Over the last two years, high inflation has adversely affected the American economy. This inflation crisis is undermining the financial well-being of millions of citizens, especially of the fixed-income population. Notably, basic necessities, like food, fuel, and housing, have become increasingly expensive, further burdening individuals. The high inflation has pushed citizens toward fiscal prudence and…
In a significant development in Pakistani politics, Caretaker Information Minister Murtaza Solangi reached PTI’s senior central leader Shafqat Mahmood and for the first time convened a meeting to address pressing concerns within the ‘Pakistan political landscape’. The primary objective was to foster a consensus regarding the forthcoming general elections and mitigate the ongoing political tension. The…
The prevalence of dementia is increasing globally, with certain ethnicities experiencing a high ratio. Contributing factors include an aging population, as well as hypertension, obesity, diabetes, and smoking. A study carried out in the United Kingdom and published in PLOS One, suggests that the increase in this disease cases is more in people of color…
Naveed Ahmed Following Saudi Arabia, Egyptian tycoon Naguib Sawiris, a luminary in the realms of telecommunications and gold mining, is also considering a substantial investment in Pakistan’s Reko Diq Copper Gold project. As far as the volume of foreign investment is concerned, Sawiris wants to invest $7 billion. He wants to expand his business footprint…
Pakistani Senior police officer removed from his post for wanting to join Hamas during Gaza violence. He pledged 10% of his salary to aid Palestine. Pakistan condemns “genocide” in Gaza; Foreign Minister Jalil Abbasi Jillani concerned about Israeli attacks and blockade.
Pakistan and over a dozen other countries are taking part in the mega Air Warfare Exercise, Indus Shield 2023. Pakistan Air Force (PAF) is hosting this 14-nation air exercise, at an operational air base of PAF. As one of the mega aerial warfare exercises of the region, it is marked as a significant milestone in…
Can the U.S. De-Escalate Hamas-Israel Conflict? Involving China and Saudi Arabia to Calm Hamas While Not Stopping Israeli Civilian Killings. The United States has asked Saudi Arabia and China to use their influence and pressure Hamas to stop their militant activities, release hostages, and prevent the Israel-Hamas war from spreading. On Sunday, the U.S. Secretary…
Pakistan is gearing up to auction the 5G spectrum by August 2024, following the approval of the Federal Cabinet—the country’s top decision-making body headed by Prime Minister The Cabinet also established an advisory committee tasked with overseeing preparations for this auction. The Finance Minister will head this committee, while the Minister for Information Technology and…
World Bank while pledging its support for Pakistan’s ongoing power sector reform efforts, promised to deliver a comprehensive privatization template to Islamabad next week, with the aim of expediting the privatization process for the Power Distribution Companies (DISCOs). Simon Stolp, South Asia Practice Manager for Energy at the World Bank, and his team met with…
Israel has announced to selling of up to $30 billion of foreign currency in the open market to stabilize its own currency ‘Shekel’. This is the first-ever sale of foreign exchange. The Bank of Israel has taken the decision on Monday as the government is feeling the brunt of the ongoing war with Hamas. Owing…
Surprisingly, Saudi Arabia has declared that they are no longer going to engage in any talks concerning normalizing relations with Israel. US Secretary of State Antony Blinken was informed that the talks were over, signaling a setback in recent American efforts to bring reconciliation and peace between them. Saudi Arabia’s decision to freeze talks sparks doubts on…
The United Nations Population Fund (UNFPA) has predicted that by mid-century, the ratio of the elderly population in India aged over 60 years will double. Presently, a tenth of the Indian population is aged 60 plus, and by 2050, it will be a fifth of the total population. The report says that there are 149…
Russia is likely to relax a ban on pipeline exports of diesel in a few days with quotas to prevent price spikes. The ban on gasoline exports will continue for now, as per the daily Kommersant, citing unknown sources. Despite being the top oil producer, Russia has faced recent fuel shortages locally. It was because…
In today’s advanced technological and digital age, money transaction has become more convenient with the introduction of mobile apps like Cash App. But, at the same time, cybercriminals have also invented novel ways to target these apps. It is a matter of serious concern that people sometimes find their accounts compromised. But, still, there are…