KHANEWAL: The Punjab’s economy faced a loss of Rs650 billion due to coronavirus, a senior official said. During his visit at the Corona Vaccination Centre, situated at the People’s Colony, Punjab Chief Minister Usman Buzdar said that over 13,000 people died of coronavirus pandemic in the province. Now, the government has decided to vaccinate one … Read more
RIYADH: Egypt aims at making 30 per cent of all the government projects green by 2024 and then raise the level to 100 per cent by 2030, Arab News quoted country’s Environment Minister Yasmine Fouad, as saying. Speaking at the Middle East Green Initiative Summit in Riyadh, she said Egypt spent 447 billion Egyptian pounds on 691 … Read more
BENGALURU: Gold prices reclaimed the $1,800 mark, supported by persisting worries over inflation, as investors looked ahead to the next Federal Reserve meeting for its outlook on the monetary policy. Spot gold rose 0.5 per cent to $1,801.22/ounce by 1203 GMT. The US gold futures rose 0.4 per cent to $1,802.50. While there is a … Read more
DUBAI: An Abu Dhabi-based global fund has surpassed its target of $50 million in its second raise, as it aims at deploying investments to a dozen companies in Series A and pre-IPO stages. The Chimera Global Fund, managed by Chimera Capital, said it has a “robust pipeline of opportunities” in a number of sectors, including … Read more
BEIJING: China has said that it will investigate energy price index providers, as it urged the coal industry participants to ‘strictly’ meet contractual obligations, in its latest bid to tame prices that have hit record highs, Arab News reported. The most-active thermal coal futures contract on the Zhengzhou Commodity Exchange, for delivery in January, tumbled more than … Read more
Opec+ will not change its strategy and isn’t obliged to resolve a problem it did not create, Arab News reported, citing the Saudi energy minister. Prince Abdulaziz bin Salman stressed that there must be a regulator for the market, in an interview with Asharq. The intergovernmental organisation is raising daily oil production by 400,000 barrels/month … Read more
BANDAR SERI BEGAWAN: The Association of Southeast Asian Nations (ASEAN) on Tuesday kick-started its 38th and 39th summits under the chairmanship of Brunei via virtual conference, with fighting the Covid-19 pandemic and promoting economic recovery high on the agenda. Speaking at the opening ceremony, Brunei’s Sultan Hassanal Bolkiah said the ASEAN member states will take … Read more
DOHA: Chinese State Councillor and Foreign Minister Wang Yi on Monday met Mullah Abdul Ghani Baradar, the acting deputy prime minister of the Afghan Taliban’s interim government, in the Qatari capital of Doha. During the meeting, Wang said that Afghanistan, now standing at a critical stage of transforming from chaos to governance, is currently facing … Read more
RAMALLAH: Palestine has decided to appeal to United Nations (UN) agencies and international courts to stop the Israeli settlement plans and other measures in the West Bank and East Jerusalem, the official Palestinian news agency WAFA reported on Monday. The decision was made during a joint meeting of the executive committee of the Palestine Liberation … Read more
MOGADISHU: An estimated 7.7 million Somalis will require humanitarian assistance in 2022 as decades of conflict, recurrent climate shocks, disease outbreaks and increasing poverty are devastating the people, the United Nations has said. The UN Office for the Coordination of Humanitarian Affairs (UNOCHA) said that Somalia has an estimated 2.9 million internally displaced people, one … Read more
NEW DELHI: India’s capital New Delhi has witnessed a sharp increase in the number of dengue infections with 283 cases reported over the past week, according to data released by the city’s civic body on Monday. The new cases have pushed the total tally beyond 1,000 since the beginning of this year. According to the … Read more
KARACHI: Bank Alfalah Limited (BAFL) posted profit-after-tax of Rs10.481 billion for the nine months period ended September 2021, compared with Rs8.33 billion, showing a growth of 26 per cent, an announcement made by the bank on Monday said. The bank declared earnings per share of Rs5.9 for the period under review, compared with Rs4.69 EPS … Read more
JERUSALEM: A six-year multinational study led by Israeli researchers has found a key mechanism that helps plants cope with water shortages, Israeli Tel Aviv University (TAU) said. The finding was revealed in a study published in the journal Science Advances, conducted by researchers from TAU, in collaboration with their colleagues in Israel, Switzerland, Germany, the … Read more
ANKARA: The Turkish lira dropped to record lows on Monday after Turkish President Recep Tayyip Erdogan at the weekend ordered the expulsion of the ambassadors of 10 countries, including Germany and the United States. The envoys had angered the president in calling for the release of Parisian-born philanthropist and activist Osman Kavala, who has been in … Read more
HONG KONG: HSBC is emerging from its coronavirus and restructuring troubles to become more reliably profitable, boss Noel Quinn said on Monday, as he announced the start of a $2 billion share buyback. The Asia-reliant lender had a tumultuous 2020, as its fortunes took a hammering from both the coronavirus and simmering geopolitical tensions. Quinn has … Read more
KHARTOUM: Sudanese Prime Minister Abdalla Hamdok, members of the Transitional Sovereignty Council’s civilian component and several ministers have been arrested by joint military forces, Sudan’s Ministry of Information and Communications said on Monday. “Sudanese Prime Minister Abdalla Hamdok, in a message from his house arrest, asks Sudanese to hold on to peace and occupy streets … Read more
DAR ES SALAAM: Twenty-one-year-old Nancy Kaale, a Bachelor of Science in Information Technology graduated from the Institute of Finance Management (IFM) in Tanzania’s commercial capital Dar es Salaam wore a broad smile as she explained how a social enterprise is opening doors for employment to young girls and women. Kaale is among more than 34,000 … Read more
LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has suggested doing trade with China in local currencies to reduce pressure on the foreign exchange reserves. Talking to delegations of Anjuman-e-Tajiran Lahore, Pakistan Steel Melters Association and Ferozepur Road Industrial Association, LCCI president Mian Nauman Kabir said that the chamber has requested the prime minister … Read more
HARIPUR: Pakistan would soon overcome the current economic crisis owing to the outbreak of the coronavirus pandemic, a senior official said. Addressing a public gathering after the inauguration of a Nadra office at Tarnawa Chowk, Federal Minister for Economic Affairs Omer Ayub Khan said that the government would resolve the issue of inflation from the … Read more
RIYADH: Saudi Aramco will become a net-zero carbon energy producer by 2050, Arab News quoted CEO Amin Nasser, as saying. He was speaking at a session organised as part of the Saudi Green Initiative Forum in Riyadh. The Aramco chief said the oil company will replace crude burning for power with natural gas in 10 years. “We … Read more
RIYADH: As part of the Riyadh Sustainability Strategy, the government is working to ensure that 30 per cent of all vehicles in the capital city will be powered by electricity by 2030, Arab News quoted CEO of the Royal Commission for Riyadh City Fahd Al-Rasheed, as saying. The CEO of the Royal Commission for Riyadh City said … Read more
RIYADH: Emirati banks’ assets are expected to grow 8 per cent in 2022, the head of the UAE Banks Federation Abdul Aziz Al Ghurair told Al Arabiya. The UAE’s economy will grow next year by 5 per cent and the return of tourism activity will support the growth of assets to this level, he said. The … Read more
CAIRO: The Saudi Central Bank (SAMA) is still examining some emerging technologies, including distributed ledgers and blockchain, before it makes any decision, Arab News quoted a report from Al Eqtisadiah. SAMA is one of the first central banks in the G20 countries to experience distributed ledgers and blockchain technologies through the ‘Aber’ digital currency project. These efforts … Read more
DUBAI: As the cricketing world gears for the big clash between arch-rivals India and Pakistan, Information Minister Fawad Chaudhry said that everyone wants Babar Azam and his men to defeat Virat Kohli’s team. “We all want Pakistan to defeat India and give [something] to celebrate,” said Fawad in a press conference at the Pakistani consulate … Read more
TRIPOLI: The United Nations High Commissioner for Refugees (UNHCR) on Friday called on the Libyan authorities to immediately address the “dire situation of asylum-seekers and refugees in a humane and rights-based manner.” “Since the start of the security raids and arrests by the Libyan authorities in October, we have witnessed a sharp deterioration in the … Read more
CAIRO: An Egyptian mechatronics engineer has invented a robot that can extract potable water by condensing humidity in the air and turn it into drinking water using artificial intelligence. “I started to think about developing this technology to absorb moisture in the air and turn it into water since 2013,” Mahmoud El-Komy, winner of the … Read more
WASHINGTON: US President Joe Biden and French President Emmanuel Macron discussed strengthening European defences in a telephone call on Friday, the White House said, as Washington seeks to mend ties after a bitter row over submarine contracts. The two leaders “discussed efforts to enable a stronger and more capable European defence while ensuring complementarity with NATO,” the statement … Read more
KARACHI: With a commitment to preserve nature, Dawlance has collaborated with the WWF-Pakistan to promote environmental sustainability and has taken up the mission of planting 10,000 trees in the vicinity of Karachi University, a statement said. This extensive plantation drive signifies the importance of nature’s ecological balance for the prevention of global warming and climate … Read more
