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Gohar Ali Khan

UN relief chief voices concern over dire humanitarian situation in Myanmar

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UNITED NATIONS: UN Undersecretary-General for Humanitarian Affairs and Emergency Relief Coordinator Martin Griffiths on Monday expressed concern over the deteriorating humanitarian situation in Myanmar. The humanitarian situation is deteriorating. Across Myanmar, there are now more than 3 million people in need of life-saving assistance because of growing conflict and insecurity, Covind-19 and a failing economy. … Read more

Chinese city offers cash for clues in Covid ‘people’s war’

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BEIJING:  A Covid-hit Chinese city is offering thousands of dollars for anyone giving clues in tracing the source of its latest outbreak, as part of a “people’s war” to stamp out one of the country’s largest resurgences in months. China reported 43 local cases on Tuesday in a Delta-driven surge that has fanned out to 20 provinces … Read more

Poland blocks migrants at Belarus border, warns of ‘armed’ escalation

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WARSAW: Poland said it blocked a bid by hundreds of migrants to illegally enter the country from Belarus on Monday, warning of an “armed” escalation as thousands more massed near the border. As the latest grim chapter of Europe’s migrant crisis unfolded, Washington and Brussels called on Minsk to stop what they described as an orchestrated … Read more

Saudi Arabia isn’t moving away from oil but firmly supports emission cuts

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LONDON/RIYADH: Saudi Arabia will not stop producing oil and natural gas. As a matter of fact its national oil company, Saudi Aramco, is pressing ahead with plans to increase its maximum production capacity by another million barrels to hit 13 million barrels/day, Arab News reported. “We know that there will be demand for Saudi oil,” Saudi Energy … Read more

Kuwait’s largest shopping mall is coming to Saudi Arabia

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RIYADH: The Avenues, a Kuwait-based shopping mall, plans to expand into Saudi Arabia in the next four years, Arab News reported. It will launch two outlets in Riyadh and Alkhobar, said Khalid Al-Shariaan, CEO of Al-Mabanee, the company that operates the mall. The design for Riyadh is now complete and the contract is expected to be awarded … Read more

Kingdom Holding turns to profitability in first 9 months

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RIYADH: Saudi Arabia’s Kingdom Holding Co has announced that it turned into profit in the first nine months of 2021, after seeing its net profit jumping by 145 per cent, Arab News reported. The company revealed in a filing that it made a net profit of SR612 million ($163 million), compared with a loss of SR1.37 billion … Read more

Alkhaleej Training launches IPO, rights issue

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RIYADH: Alkhaleej Training Company starts its offering and tradable rights trading period as of Monday, to increase its capital from SR450 million ($119.9 million) to SR650 million ($173.2 million), Arab News reported. The rights trading period ends on Monday, November 15, 2021, with the subscription phase continuing until Thursday, November 18, 2021. The education and training business … Read more

Saudi Arabia’s hospitality sector poised for ‘significant’ rebound

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RIYADH: The hospitality sector in Saudi Arabia is poised for a significant post-pandemic rebound, despite a 3.4 per cent fall in the average occupancy rate in the sector, Arab News quoted a report from the real estate investment group CBRE, as saying. The US-based firm’s latest Saudi Market Review attributes the decline to a fall in occupancy … Read more

Pakistani exports to China to set new records this year: envoy

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BEIJING: The bilateral trade volume between Pakistan and China and the Pakistani exports to China would set new records by the end of the current year, a diplomat said on Tuesday. “China is Pakistan’s largest trading partner, besides being the second largest export destination and this year, despite the pandemic, our bilateral trade is growing … Read more

Nissan triples profit forecast on strong quarterly results

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TOKYO: Nissan tripled its full-year net profit forecast on Tuesday, as it rebounded from the impact of the pandemic with a strong quarterly performance, saying it expected to withstand challenges, including the global chip crunch and rising raw material prices. The firm now projects 180 billion yen ($1.6 billion) in net profit for the fiscal … Read more

Stockholm latest capital to limit electric scooters

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STOCKHOLM: Stockholm has halved the number of electric scooters allowed on its streets, the latest capital to impose restrictions on the exploding but controversial mode of urban transport. The city council voted to limit the number of authorised scooters to 12,000, down from 23,000 currently in circulation, and to slash the number of authorised rental companies … Read more

Australian govt reveals future fuels strategy to cut transport emissions

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CANBERRA: The Australian government has published its long-awaited future fuels and vehicles strategy to cut transport emissions by increasing the uptake of vehicles deploying new energy. The strategy, released by Prime Minister Scott Morrison and Minister for Industry, Energy and Emissions Reduction Angus Taylor on Tuesday, includes plans for a network of charging and hydrogen … Read more

Philippine economic growth beats forecasts in third quarter

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MANILA: The Philippine economy grew more than expected in the third quarter, the government said on Tuesday, as a rebound in consumer spending overcame pandemic lockdowns and other restrictions to rein in the fast-spreading Covid delta variant. Gross domestic product expanded 7.1 per cent, according to the Philippine Statistics Authority, better than the 4.9 per cent … Read more

German exports fall for second straight month

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FRANKFURT: German exports fell for the second month in a row in September, as Europe’s top economy grapples with global supply shortages, official data showed on Tuesday. Germany exported 112.3 billion euros ($130.2 billion) worth of goods in September, adjusted for the season, a 0.7 per cent drop from the previous month, according to federal statistics … Read more

Toshiba to split business into three: report

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TOKYO: Toshiba plans to split into three companies as early as 2023, a report said on Tuesday, after a series of crises at the firm, including the ouster of the board’s chairman and a contentious buyout offer. The Nikkei Asia, a business daily, said the three units would focus on infrastructure, devices and semiconductor memory and are expected … Read more

Qatar hits budget surplus of $247 million

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Qatar recorded a budget surplus of 900 million riyals ($247 million) for the third quarter of this year, Arab News quoted the data released by the country’s Ministry of Finance. The total revenue for the quarter grew by a yearly rate of 20.6 per cent to reach 47 billion riyals. Oil and gas revenue accounted for 87.7 … Read more

Sugar crisis escalated due to black marketing: minister

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ISLAMABAD: The current sugar crisis escalated due to black marketing by the industrialists, which left adverse effects not only on the supply chain mechanism but also on the economic growth of the country, a senior official said on Tuesday. Since the inception of Pakistan, the industrial sector was being ill-regulated due to monopolists that always … Read more

PM Imran Khan urged for steps to put agriculture, other sectors in top gear

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KARACHI: The Union of Small and Medium Enterprises (Unisame) has advised Prime Minister Imran Khan to take immediate steps to put agriculture, livestock, poultry, dairy farming, horticulture and hydroponic farming in top gear to fight inflation, which is damaging the economic fabric of the country, a statement said on Tuesday. Unisame president Zulfikar Thaver urged … Read more

Saudi Arabia allows non-Saudis to invest in real estate funds

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RIYADH: The Capital Market Authority (CMA) allowed the financial market institutions to accept the subscriptions of non-Saudis in the real estate funds that invest in assets within the boundaries of Makkah and Madinah, Arab News quoted a statement issued by CMA. The ownership system for non-Saudis in the kingdom stipulates that non-Saudis are allowed to own real … Read more

World food crisis deepens as situation in 43 countries worsens: UN

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UNITED NATIONS: The World Food Programme (WFP), a Rome-based UN agency, has warned that the number of people teetering on the edge of famine in 43 countries, has risen to 45 million, up by three million this year, as acute hunger spikes around the world. This number has risen from 42 million earlier in the … Read more

Pakistan property exhibition to start from November 26

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KARACHI: The Pakistan International Property Exhibition and Convention will be held from November 26 to 28, 2021 at the Pak-China Friendship Centre in Islamabad, an official said. The event will be inaugurated by Federal Information and Broadcasting Minister Chaudhry Fawad Hussain. Prominent builders, developers, allied construction and bank projects from across the country will be … Read more

Mastercard partners with One Network to digitalise road toll payments

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KARACHI: Mastercard has signed a strategic partnership with the Pakistani intelligent transport systems provider, One Network, to digitalise the country’s road toll payments network, an official said. The partnership was signed at the Pakistan Pavilion in Expo 2020 Dubai, where Mastercard is the official payment technology partner, in the presence of Frontier Works Organisation, Pakistan’s … Read more

Intellectual property rights most valuable asset for entrepreneur: official

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LAHORE: Lahore Chamber of Commerce and Industry vice president Haris Ateeq has said that intellectual property rights (IPRs) are the most valuable asset for any entrepreneur. Speaking at a meeting of the IPR Enforcement Coordination Committee arranged by the IPO-Pakistan at the LCCI, he said the importance of IPRs could not be underestimated, particularly with … Read more

Nigerian diplomat calls for setting up joint chamber to enhance trade

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KCCI

KARACHI: The Nigerian High commissioner held a meeting with the Karachi Chamber of Commerce and Industry (KCCI) officials and discussed the establishment of a joint chamber of commerce and industry between the two countries to enhance bilateral trade, a statement said. During his visit to the KCCI, Nigerian High Commissioner Mohammed Bello Abioye also stressed … Read more

‘We can’t live in a world without the Amazon’: scientist

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RIO DE JANEIRO: Erika Berenguer, an Amazon ecologist at Oxford and Lancaster universities, is one of the most prominent scientists studying how the rainforest functions when humans throw it off balance. AFP asked the 38-year-old Brazilian to break down the latest research on the Amazon and what it means for us all.   There are … Read more

Govt to bring back Pakistan’s past economic glory: Tarin

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ISLAMABAD: The government wants to bring back Pakistan’s past economic glory when the country was one of the four largest economies in the Asian region, a senior official said. Addressing as chief guest in “Kamyab Jawan Convention”, jointly organised by the Islamabad Chamber of Commerce and Industry (ICCI) and Kamyab Jawan programme at the ICCI … Read more

Original Apple computer built by Jobs and Wozniak to be auctioned

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LOS ANGELES: An original Apple computer, hand-built by company founders Steve Jobs and Steve Wozniak 45 years ago, goes under the hammer in the United States on Tuesday. The functioning Apple-1, the great-great-grandfather of today’s sleek chrome-and-glass Macbooks, is expected to fetch up to $600,000 at an auction in California. The so-called “Chaffey College” Apple-1 is one … Read more

US couple sues IVF clinic over baby mix-up

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LOS ANGELES: A US woman and her husband are suing a fertility clinic they say implanted a stranger’s baby, lawyers said on Monday. When Daphna and Alexander Cardinale first saw their newborn, conceived through IVF, they noticed the baby girl had jet-black hair and a much darker complexion than anyone in their family. A DNA test … Read more

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