WASHINGTON: The stunning recent run-up in the global oil prices could threaten economic growth, and is unlikely to retreat until 2023, the World Bank said on Thursday. The average crude prices are expected to end the year at $70/barrel, 70 per cent higher than in 2020, according to the latest Commodity Markets Outlook. That in turn … Read more
KARACHI: Shell Pakistan posted a profit-after-tax of Rs296 million during the third quarter of 2021, a statement said on Thursday. The board of directors of Shell Pakistan Limited (SPL) announced the third quarter results. The nine months of 2021 saw a significant recovery, compared with a very tough last year. The encouraging turnaround is mainly … Read more
GENEVA: The United Nations on Wednesday launched a funding programme aimed at preventing the Afghan economy from collapsing during the winter by getting cash flowing through the local economy again. The UN Development Programme has set up a trust fund through which the governments can channel finance via the UN to specific programmes on the ground, … Read more
KARACHI: The Karachi Chamber of Commerce and Industry (KCCI) on Thursday expressed concerns over the statement of State Bank of Pakistan Governor Dr Reza Baqir regarding increased fluctuation in exchange rate, a statement said. KCCI president Muhammad Idrees said that the overseas Pakistani send around $8 billion remittances, which registered an increase up to 11 … Read more
KARACHI: The Sindh High Court on Thursday directed the provincial government to remove encroachments from a piece of land allotted for establishing a research institute for cancer in the Malir district of Karachi. Former vice-chancellor of Karachi University Dr Zafar Saeed Saifi had filed a petition submitting that seven acres of land was allotted for … Read more
KARACHI: Rehana Peter has been working at the Covid-19 ward of a local hospital for the past one year. Luckily she had not contracted the deadly disease as she strictly followed social distancing rules and other virus-related standard operating procedures (SOPs). However, despite her efforts to remain healthy, she eventually caught the dengue virus last … Read more
ISTANBUL: Turkish President Recep Tayyip Erdogan on Thursday threatened to expel the US, German and eight other Western ambassadors after they issued a rare joint statement in support of a jailed civil society leader. Parisian-born philanthropist and activist Osman Kavala, 64, has been in jail without a conviction since 2017, becoming a symbol of what … Read more
British composer, multi-instrumental, vocalist, arranger and producer, Sami Yusuf gained attention after the release of his album Al-Mu`allim, in 2003. After that he has released almost 14 albums which gained equal attention and popularity. Ahead of Sami Yusuf’s showcase at Expo 2020 Dubai, ‘Beyond the Stars’, which features performers from a number of different cultures … Read more
KARACHI: It is a commonly held view in Pakistan that registering a first information report (FIR) when someone is looted by robbers or is the victim of some other street crime is an exercise in futility. This perception is aided by the fact that many local police stations reportedly seem reluctant to register street crime … Read more
PARIS: Facebook said Thursday it had reached an agreement with some French newspapers to pay for news content shared by its users, months after Google announced plans to renumerate them for articles shown in web searches. Facebook said the licensing agreement with the APIG alliance of national and regional newspapers “means that people on Facebook … Read more
KARACHI: The free-fall in the rupee value continued on Thursday, as the dollar hit Rs174 in intraday trading in the interbank foreign exchange market, dealers said. The exchange rate recorded a decline of 49 paisas in the rupee value to close at Rs173.96 against the dollar from previous day’s closing of Rs173.47 in the interbank … Read more
PARIS: More than 250,000 homes in France were without electricity on Thursday after gale-force winds swept the north of the country overnight, power grid operator Enedis said. Rail traffic was also affected by storm “Aurore”, which has been causing devastation since Wednesday afternoon. Transport Minister Jean-Baptiste Djebbari said in a tweet that the Ile-de-France region … Read more
ISLAMABAD: The Supreme Court on Thursday granted bail to PPP leader Khursheed Shah in assets beyond known sources of income case filed by the National Accountability Bureau (NAB). A two-member bench of the apex court, headed by Justice Umar Ata Bandial, granted bail to the former opposition leader in the National Assembly against surety bonds … Read more
PARIS: French soldiers have killed a commander from a militant group close to Al-Qaeda that operates along Mali’s troubled border with Burkina Faso, the army’s general staff announced Thursday. Nasser Al Tergui was the number two in the Gourma-Serma brigade of the Support Group for Islam and Muslims (Jamaat Nasr al-Islam wal Muslimin), the French … Read more
ISLAMABAD: Foreign Minister Shah Mahmood Qureshi reached Kabul today on a day-long visit to hold bilateral talks with the interim Taliban government. Visuals shared by the ruling Pakistan Tehreek-e-Insaf showed that DG ISI Lt Gen Faiz Hameed is also accompanying Pakistan’s top diplomat on the trip. وزیر خارجہ مخدوم شاہ محمود قریشی ایک اعلیٰ سطحی … Read more
KARACHI: The Sindh High Court on Wednesday dismissed a petition seeking to declare the Sindh Shaheed Recognition and Compensation Act, 2014 as inconsistent and in derogation of fundamental rights. The petition sought court’s direction for amendment in section 2 subsection (f) of the act by inserting words regarding any person who sacrifices his life by … Read more
KARACHI: The Pakistan stocks rebounded on Wednesday, as the international market turned green, while the commodity prices showed signs of weakness. “The current account deficit reduced to $1.1 billion in September 2021, compared with $1.47 billion in August 2021. The net foreign direct investment in Pakistan soared to $236 million in September 21, signalling a … Read more
KARACHI: The overall power generation went up 7.1 per cent to 14,032GWh (19,489MW) during September 2021, compared with 13,104GWh (18,200MW) during September 2020. “The rise in generation is witnessed due to higher generation of nuclear, wind, furnace oil, bagasse, coal and hydel,” an analyst at Arif Habib Limited said. In the overall generation, hydel contributed … Read more
KARACHI: Jamaat-i-Islami (JI) Karachi chief Engr Hafiz Naeemur Rehman has written a letter to the Election Commission of Pakistan (ECP), reminding the body that it is responsible for holding local bodies elections within the stipulated time frame, says a press release. In the letter, the JI leader demanded of the ECP to hold the local … Read more
Kumail Nanjiani stepped out at the Eternals movie premiere in Los Angeles on October 18th wearing a full traditional purple Sherwani overlaid with gold paisley patterns, custom made by the Pakistani designer Umar Sayeed. Being the first Pakistani to enter the Marvel Cinematic Universe is an incredibly big feat. He is also famously known for … Read more
Some would say the last year has been one long horror show for the entire world. But as we all slowly moves towards normalcy and everyday life, and with Halloween just around the corner, it’s time to get back in your resting witch face. To inspire you all, we’ve assembled top celebrity Halloween looks from … Read more
BEIJING: Chinese developer Evergrande will resume trading in Hong Kong on Thursday, it said in a filing, but warned there was “no guarantee” it would be able to meet its financial obligations. The company suspended trading on October 4, as it struggles in a sea of debt and faces a default, with investors’ fearing the fallout … Read more
ISLAMABAD: The Supreme Court of Pakistan on Wednesday ordered investigation into delay in the restoration of local bodies’ institutions in Punjab. The Supreme Court bench headed by Chief Justice Gulzarr Ahmed heard the case pertaining to restoration of local bodes. The Punjab government also submitted notification in the Supreme Court with regards to restoration of local … Read more
ISLAMABAD: The third meeting of the Pak-China Relations Steering Committee on Wednesday discussed various issues relating to the CPEC projects in power, infrastructure and industrial cooperation sectors. The committee was informed that a number of issues discussed during the last meeting, had been resolved as per the directions of the Committee, while some others were … Read more
Ali Zaidi is a successful entrepreneur who has taken family business to new heights by introducing several innovations. An MBA degree holder of Pak Aims, he started managing affairs of the New Unique Pharma only six months after its launching. His father started distribution of pharmaceutical and nutraceutical products with the initial investment of Rs3.5 million … Read more
Muhammad Yaseen is a self-made man, who is successfully running three different businesses. A graduate from the Punjab University, Yaseen set up Khalid Autos about two decades ago. The company is now providing auto parts to various government institutions, such as the Water and Power Development Authority (Wapda), Lahore Electric Supply Company (Lesco), etc. Four years … Read more
OSLO: Soaring prices of natural gas, a key feedstock for producing chemical fertilisers, will weigh on food production and security, a major manufacturer warned on Wednesday. Norway-based Yara said that a near 15-fold rise in the European natural gas prices had forced it to reduce its production of ammonia, a key fertiliser component. “[The] European nitrogen … Read more
ISLAMABAD: A senior official of the North Atlantic Treaty Organisation (NATO) appreciated Pakistan’s role in Afghanistan, including the successful evacuation operations and efforts for regional stability, read a statement issued by the Inter Services Public Relations (ISPR). The military’s media win shared that Senior Civil Representative NATO Stefano Pontecorvo called on Chief of Army Staff … Read more
