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20/03/2023

At its upcoming policy review, the State Bank of Pakistan is likely to raise interest rates even higher in an effort to combat crippling inflatio
The monetary policy committee is scheduled to begin its next meeting on April 4, according to reports in local media citing a brokerage business, and the central bank is anticipated to raise its policy rate by 100 bps (basis points) to a historic 21 percent.

The firm apparently performed a poll and revealed that the market is awaiting the impending monetary policy by taking responses from different sectors.

15/03/2023

Sunwalk Group, a Chinese telecom infrastructure company, plans to invest $2 billion in Pakistan’s telecom sector for the deployment of an optical fiber network, encompassing an area of 100,000km.
“Sunwalk has obtained the license to be a telecom infrastructure provider (TIP) in Pakistan. The company will lay 100,000km of fibre cable in Pakistan with an investment of $2 billion,” said Federal Minister of Information Technology and Telecommunication Syed Amin-ul Haque, during a meeting with a delegation led by the Chairman of Sunwalk Group, Hou Xingwang, on Tuesday.
During the meeting, there was a detailed discussion regarding investment opportunities and the telecom infrastructure sector in Pakistan, read a statement released by the Ministry of IT and Telecom.
It was learnt that Sunwalk has already invested about $5 million in installing Optical Fiber Cable (OFC) in Pakistan.

09/03/2023

Discover the Latest Open Market Exchange Rates in Pakistan Today!
9th March 2023

08/03/2023

On Tuesday, Afghanistan Cricket Board (ACB) announced that they will host Pakistan for a three-match Twenty20 International series in Sharjah later this month, marking the first bilateral series between the two neighboring countries.

The ACB confirmed that this series will mark the beginning of Afghanistan's international home season 2023-24.

Cricket Australia (CA) had previously refused to play in Afghanistan's One-day International series in March 2023 as well as host Afghanistan for a Test match in November 2021 due to concerns about the treatment of women in the country.

ACB chairman Mirwais Ashraf expressed appreciation for Pakistan Cricket Board's decision to play Afghanistan, and the chairman of PCB Interim Management Committee Najam Sethi welcomed the series.

Green hydrogen, which has been of interest to the renewable energy sector for a long time, is becoming a game changer du...
01/03/2023

Green hydrogen, which has been of interest to the renewable energy sector for a long time, is becoming a game changer due to its crucial applications across industries and its contribution to clean energy transitions.
Achieving energy transition, meeting decarbonization goals, and establishing leading enterprises as market authorities require the development of hydrogen.
According to a recent report by GlobalData, the global capacity for producing green hydrogen increased by 44% from 2021 to 109 ktpa in 2022.

The report identifies deals, trends, and investments as helpful benchmarks for determining the top firms fueling the growth of the hydrogen market.

The rise in completed hydrogen-related deals from 277 in 2021 to 393 in 2022 indicates an upward trend in the development of the low-carbon hydrogen market, which could result in over 111 mtpa of capacity globally by 2030. Although there were more corporate collaborations than governmental ones in 2022, generating money and investing were crucial to the growth of the hydrogen economy. The value of M&A transactions rose to $24.4 billion, and the value of venture capital deals increased to nearly $3,001.1 million in 2022.

The US, Portugal, Canada, Denmark, Egypt, and other nations announced over 111.9 mtpa of low-carbon hydrogen capacity in 2022, and Green Hydrogen International (GHI) announced two major green hydrogen projects with a combined 43 mtpa capacity in Canada. Several businesses, including Fortescue Industries, participated in numerous project investments around the world to diversify their risk.

Despite difficult global economic conditions, low-carbon hydrogen investments increased from 600 to over 1,700 between Q4 2021 and Q4 2022.
According to experts, over 90% of pipeline hydrogen projects as of January 2023 are green, which will speed up the cost reduction along the entire hydrogen value chain and contribute to the development of renewable energy.

27/02/2023

Nokia has announced plans to change its brand identity after almost 60 years, including a new logo and a shift in focus from smartphones to business technology.
The telecom equipment maker is aiming for aggressive growth and plans to sell gear to other businesses, particularly in the enterprise sector. CEO Pekka Lundmark has set a strategy of three stages: reset, accelerate and scale, with the reset stage now complete.
Nokia also plans to review the growth path of its different businesses and consider divestment. Despite the challenging market to sell telecom gear, Nokia expects to see growth in India and a stronger North America in the second half of the year.

On Friday, the State Bank of Pakistan (SBP) received $700 million in loan proceeds from the China Development Bank (CDB)...
25/02/2023

On Friday, the State Bank of Pakistan (SBP) received $700 million in loan proceeds from the China Development Bank (CDB), according to a tweet by Finance Minister Ishaq Dar.

This development will increase the central bank's reserves to almost $4 billion, up from the previously recorded level of $3.259 billion on February 17. This inflow will significantly improve Pakistan's import cover.

Earlier in the week, the finance minister announced that the China Development Bank's board had authorized a $700 million facility for Pakistan. The country's reserves are expected to strengthen further in the coming weeks, as it is nearing a staff-level agreement with the International Monetary Fund (IMF). This agreement will unlock a loan tranche of $1.1 billion and result in financial aid from friendly countries.

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WhatsApp is expanding its features by introducing capabilities found in rival messaging apps. Recently, WhatsApp has inc...
25/02/2023

WhatsApp is expanding its features by introducing capabilities found in rival messaging apps. Recently, WhatsApp has incorporated several features inspired by Telegram, and now it is taking a cue from Google Meet. WhatsApp will soon allow users to schedule group calls, similar to Zoom and Google Meet.

This feature was first observed a few weeks ago on the WhatsApp beta for Android and is now available on WhatsApp beta for iOS version 23.4.0.75 on the TestFlight app.

When a call is scheduled, all group members will receive a notification, making it easy for them to join the call promptly. It is worth noting that the group call scheduling feature applies to both audio and video calls, depending on the call button used to open the context menu. This feature will assist group members in planning their meetings and events in advance. It ensures that everyone in the group is aware of the scheduled time, allowing them to prepare accordingly, without the need for additional reminders. Additionally, it can reduce the likelihood of missed or delayed calls.

As the feature is currently under beta testing, it should not take long to appear on the stable version of WhatsApp for Android and iOS, particularly as it is only a minor feature.


22/02/2023

Pakistan is inching closer to reviving a $6.5 billion bailout from the International Monetary Fund after the parliament approved on Monday the plan to roll out higher taxes.

An agreement is expected to be finalized within three days after most issues were resolved, ARY News reported, citing Hamed Yaqoob Sheikh, secretary at the finance ministry. A bill that will increase the general levy to 18% from 17% and boost tax on imports of luxury items such as mobile phones to 25% from 17% was approved by the parliament.

The government had raised energy prices and let the currency weaken after the IMF called on Pakistan to scrap subsidies and enable a market-determined exchange rate. Although almost all conditions have been met, a key item that remains is further tightening of monetary policy, said Zubair Ghulam Hussain, chief executive officer at Insight Securities Pvt.

State Bank of Pakistan has raised the benchmark rate by 725 basis points since the start of 2022 to contain inflation that quickened to a 48-year high in January. SBP is scheduled to hold its next policy review on March 16.

21/02/2023

Yahoo to lay off 20% of its staff as it cuts advertising tech business
Admitting defeat in the online advertising wars, the former search powerhouse is set to lay off 1,600 employees by the end of 2023.

Yahoo has laid off 1,000 workers, or about 12% of its remaining staff, in a move aimed at restructuring the company’s advertising technology business unit and reallocating its finances more efficiently.

Petrol Price Likely To Increase By Rs 32 Per Litre From Feb 16 In Pakistan.
15/02/2023

Petrol Price Likely To Increase By Rs 32 Per Litre From Feb 16 In Pakistan.


OpenAI's ChatGPT, which has become exceedingly popular in the last few months, is now being used by cyber criminals to c...
15/02/2023

OpenAI's ChatGPT, which has become exceedingly popular in the last few months, is now being used by cyber criminals to create malware, research by threat intelligence company

Users have agreed that ChatGPT is a great way to "make money", as users claimed they made more than US$1,000 per day. Forbes believes hackers did so by impersonating women to enact social engineering attacks on vulnerable targets.

Cyber Security experts already told Cyber Security Hub that according to their forecast the top cyber security threat of 2023 would be crime-as-a-service, and ChatGPT has expedited the process by creating malware for free.

14/02/2023

Pakistan plans to quadruple its domestic coal-fired capacity to reduce power generation costs and will not build new gas-fired plants in the coming years, its energy minister told Reuters on Monday, as it seeks to ease a crippling foreign-exchange crisis.

A shortage of natural gas, which accounts for over a third of the country's power output, plunged large areas into hours of darkness last year. A surge in global prices of liquefied natural gas (LNG) after Russia's invasion of Ukraine and an onerous economic crisis had made LNG unaffordable for Pakistan.

"LNG is no longer part of the long-term plan," Pakistan Energy Minister Khurram Dastgir Khan told Reuters, adding that the country plans to increase domestic coal-fired power capacity to 10 gigawatts (GW) in the medium-term, from 2.31 GW currently.

Google Play Store services will continue to be available in Pakistan as the Ministry of Finance has agreed to release bl...
03/12/2022

Google Play Store services will continue to be available in Pakistan as the Ministry of Finance has agreed to release blocked payments to international service providers including tech giant Google.

The development comes amid fear that users will not be able to get the paid services of Google Play Store from December 1 (today) after the State Bank of Pakistan last suspended the direct carrier billing (DCB) mechanism.

Amid the fear, Finance Ministry has agreed to a proposal of the IT Minister to evolve an effective mechanism and make payments against the Google App services.

In a statement, IT Minister Aminul Haque said payments can be made as per the schedule. He said the central bank has been directed to delay the implementation of the policy for a month and telcos have been given one-month time to implement the payment procedures”.
He maintained that IT and finance ministries and the State Bank will formulate a plan of action with mutual consultation in the given time.

Prime Minister Shehbaz Sharif has taken notice of excessive gas load-shedding in the country on Friday.Sources privy to ...
03/12/2022

Prime Minister Shehbaz Sharif has taken notice of excessive gas load-shedding in the country on Friday.

Sources privy to the matter said that PM Shehbaz called a conference in Lahore on Saturday and asked for a solution to the cities’ gas load shedding. Additionally, sources stated that significant decisions are anticipated to be taken at the meeting.

The huddle is anticipated to cover topics like winter gas supply strategies and challenges with electricity generation brought on by gas load shedding.

According to sources, the meeting has also been directed to be attended by Finance Minister Ishaq Dar and the relevant officials from the Ministry of Energy (Power Division).

Islamabad: Pakistan and China have launched a new initiative to boost science and technology cooperation and to seize th...
03/12/2022

Islamabad: Pakistan and China have launched a new initiative to boost science and technology cooperation and to seize the opportunities that would benefit both countries.

The Chinese Zhongguancun Belt and Road Industrial Promotion Association (ZBRA) and Pakistan’s Special Technology Zones Authority (STZA) have jointly launched the ‘China-Pakistan Science and Technology Cooperation Centre’ in Beijing this week.

More than 3,000 Chinese technology companies virtually attended the inauguration event held at Pakistan Embassy in Beijing. Moin-ul-Haque, Pakistan’s ambassador to China, said that the “technology sector emerged as a cornerstone of China-Pakistan cooperation during the recent visit of Prime Minister Shahbaz Sharif to China”.

The two neighbours have also formed joint working groups on science and technology (S&T) and Information Technology (IT) under the multi-billion-dollar China-Pakistan Economic Corridor (CPEC).

With the launch of the tech centre, the two strategic partners are broadening their alliance to new technology areas besides defence, and security.

The annual report on the Worldwide Cost of Living for 2022 has been released by the Economist Intelligence Unit (EIU). K...
01/12/2022

The annual report on the Worldwide Cost of Living for 2022 has been released by the Economist Intelligence Unit (EIU). Karachi is the world’s sixth most affordable city to live in, according to the survey.
Every year, the forecasting, consulting, research, and analysis division of the UK-based Economist Group, EIU, publishes a “Worldwide Cost of Living” report.
According to the report, Syria’s capital, Damascus, is the most affordable city, followed by Libya’s capital, Tripoli, which takes the second spot.
The economies of both cities remained in turmoil this year as a result of the ongoing armed conflicts in Syria and Libya. Tunis, Tunisia, is ranked fourth on the list.
Surprisingly, eight Asian cities have been named among the world’s most affordable.
In the most recent edition of the survey, Karachi was ranked sixth, retaining its position from 2021, while Tehran (Iran), Tashkent (Uzbekistan), and Almaty (Kazakhstan) were ranked third, fifth, and seventh, respectively.

The University of Karachi (KU) announced on Monday the entry test-based online admissions 2023 for the morning session a...
23/11/2022

The University of Karachi (KU) announced on Monday the entry test-based online admissions 2023 for the morning session and instructed eager students to submit their online forms by November 29, 2022.
The KU is now accepting morning entrance test-based online admissions for the 2023 academic year in B.E., BS, B.Ed (H), BS (Third Year), Doctor of Pharmacy (morning and evening programs), Doctor of Physical Therapy (morning program), and Department of Visual Studies.

The Olive Culture Holistic and Multi-Professional Mechanism for a Pakistani Olive Oil Value Chain Project, funded by the...
23/11/2022

The Olive Culture Holistic and Multi-Professional Mechanism for a Pakistani Olive Oil Value Chain Project, funded by the Italian government.
Aims to enhance olive oil production and improve food security in Pakistan through technical assistance and training of the stakeholders.
The project began in March 2022 with the goal of establishing a multi-professional olive and olive oil value chain in Pakistan to boost olive production and improve food security through technical assistance and stakeholder training.

Gold edges down as investors keep an eye on political, economic developments.The price of a single tola of 24-karat gold...
22/11/2022

Gold edges down as investors keep an eye on political, economic developments.
The price of a single tola of 24-karat gold in Pakistan is Rs158,650 on Tuesday 22 November 2022.
Analysts believe gold could remain volatile until there’s clear direction as the price for local markets is determined by keeping in view its prices in world markets, rupee-dollar exchange rate, and demand and supply in domestic markets.

Messi is the fifth player in history to score at four different World Cup tournaments.
22/11/2022

Messi is the fifth player in history to score at four different World Cup tournaments.

Saudi Arabia taking the lead & match winning goal against Lionel Messi's Argentina in FIFA World Cup First time in the h...
22/11/2022

Saudi Arabia taking the lead & match winning goal against Lionel Messi's Argentina in FIFA World Cup First time in the history.

Messi has equaled Ronaldo's World Cup goal record 👀🔥 7:7
22/11/2022

Messi has equaled Ronaldo's World Cup goal record 👀🔥 7:7

In a world where consumers desire for greater efficiency and auto manufacturers are pushing for more eco-friendly transp...
20/11/2022

In a world where consumers desire for greater efficiency and auto manufacturers are pushing for more eco-friendly transportation options, hybrid powertrains are a great option.
Keeping this in mind, Pakistan's foremost automotive manufacturer, Sazgar, has revolutionised the automobile industry with the introduction of its first locally assembled hybrid electric vehicle, the Haval H6.

Featuring high efficiency, low fuel consumption and excellent performance on all types of roads, the Haval H6 HEV belongs to the C-segment of lightweight crossover SUVs.

As part of its distinguished features, Haval H6 HEV is equipped with 240 horsepower, 530NM torque, 19-inch alloy wheels, front radar, fully automatic parking, autonomous reverse, blind spot detection, lane change assistance, intelligent dodge, rear collision warning, ventilated and 4-way electric seats, an anion air purifier, heads up display, and ambient lighting.

Five weekends in and The Legend of Maula Jatt is still going strong — strong enough to seat itself atop the peak of succ...
17/11/2022

Five weekends in and The Legend of Maula Jatt is still going strong — strong enough to seat itself atop the peak of success.
The movie is reportedly the highest grossing film from the Indian subcontinent at the UK box office in the past four years.
According to British film publication Screen Daily, Maula Jatt, released by Moviegoers Entertainment, accumulated £44,149 (Rs11.5 million) on its fifth weekend.
The Legend of Maula Jatt has become the highest grossing Punjabi film globally — according to its official Instagram account, the film made $7.8 million (Rs1.7 billion) at the worldwide box office within four weeks of its release.


The Pakistan Meteorological Department (PMD) has predicted rain and wind thunderstorms of light intensity in various cit...
07/11/2022

The Pakistan Meteorological Department (PMD) has predicted rain and wind thunderstorms of light intensity in various cities of Sindh, including Karachi, from November 7.

Other districts to receive rainfall — due to a “westerly wave” entering the country today — include Dadu, Ghotki, Jacobabad, Jamshoro, Khairpur Kashmore, Larkana, Nausheroferoze, Shaheed Benazirabad, Shikarpur, Sukkur, and Qambar Shahdadkot.

Day temperatures are also likely to fall by two-to-four degrees Celsius in the province, according to PMD.

Maximum temperatures in Karachi will reach 36C in the next three days while the minimum will fall to 21C. Sunny skies are expected on Saturday, and partly cloudy on Sunday.

Temperatures in Europe have risen more than twice the global average over the past three decades, according to the UN's ...
04/11/2022

Temperatures in Europe have risen more than twice the global average over the past three decades, according to the UN's World Meteorological Organization (WMO), which says Europe’s is the highest increase in the world.

"As the warming trend continues, exceptional heat, wildfires, floods and other climate change impacts will affect society, economies and ecosystems," said a report jointly released on Wednesday by the WMO and the EU's Copernicus Climate Change Service.

The report focused on rising temperatures in 2021 along with land and marine heatwaves, extreme weather, and retreating ice and snow.

"Temperatures over Europe have warmed significantly over the 1991-2021 period, at an average rate of about +0.5 °C per decade," the report said.

As a result of the rising temperature, Alpine glaciers lost 30 meters in ice thickness from 1997 to 2021, while the Greenland ice sheet is melting and contributing to accelerating sea level rise, the report found.

Although the EU's greenhouse gas emissions fell 31% between 1990 and 2020 – still behind the 55% reduction target for 2030 – high-impact weather and climate events continued to disrupt the lifes of Europeans in 2021.

“Europe presents a live picture of a warming world and reminds us that even well-prepared societies are not safe from impacts of extreme weather events," said WMO Secretary-General Petteri Taalas in a statement. "This year, like 2021, large parts of Europe have been affected by extensive heatwaves and drought, fuelling wildfires. In 2021, exceptional floods caused death and devastation."

04/11/2022

Popular instant messaging platform WhatsApp will let users combine related or similar chat groups under 'Communities' - a new feature to be introduced soon.

The app said it was releasing a new feature that will let users combine their related group chats together "under one umbrella with a structure that works for them". The new addition will also be introduced to Facebook and Instagram.

In the upcoming months, Communities will be available to all WhatsApp users, letting them set up small group chats within a community while allowing swift and easy access to switch between the two.

Group admins will be granted "powerful new tools" to manage said Communities, including broadcast announcements and picking groups to include in a Community.

Pakistan’s ex-Prime Minister Imran Khan was shot in the foot at a rally Thursday, according to an official from his part...
03/11/2022

Pakistan’s ex-Prime Minister Imran Khan was shot in the foot at a rally Thursday, according to an official from his party, which said the incident was an assassination attempt.

A bullet hit Khan in his foot after an unidentified gunman opened fire, Pakistan Tehreek-e-Insaf (PTI) senior leader Asad Umar said.

The former Pakistan cricket captain was taken from the rally site just outside the town of Gujranwallah to receive treatment in Lahore. At least three other people were injured by gunfire. The extent of the other injuries is not yet known.

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