After winning the Premier League for the fourth time in a row and the Euro 2024 tournament, Spain midfielder Rodri of Manchester City received the men’s Ballon d’Or on Monday. Real Madrid, on the other hand, refused to attend the event. It came as a surprise that the midfielder would receive the award for the world’s best player, given that Real Madrid’s Liga and Champions League double winner Vinicius Junior was widely considered to be the favorite. The Spanish club made the announcement a few hours before the ceremony in Paris that its delegation would not attend the ceremony at…
Author: Raja Zahid Khanzada
KARACHI: Bank lending to non-bank financial institutions (NBFIs) is on the rise as the private sector pays off its debts; the first quarter of this year’s fiscal year (FY25) saw a record of Rs400 billion. The economy is significantly impacted by non-banking financial institutions (NBFIs), which offer a variety of financial services without banking licenses. According to the most recent data from the State Bank, credit flows to NBFIs totaled Rs399.86 billion in FY25, or 91% of the total loan stock for NBFIs. The total loan stock was Rs441bn as of June 30, 2024. Net debt retirement by NBFIs was…
ISLAMABAD: Pakistan Railways (PR) is seeking a 130% increase in the procurement cost of approximately 1,050 bogies to Rs71 billion, despite strong objections from the ministries of finance and planning. This is primarily due to a change in specifications and currency depreciation. The Pakistan Railway presented its case to the Central Development Working Party (CDWP) a few days ago for an increase in the procurement cost for 820 freight wagons and 230 passenger coaches from Rs31 billion in 2017 to Rs70.97 billion now, but the meeting was postponed at the last minute. The Executive Committee of the National Economic Council…
Apple’s major push into generative AI was marked by the introduction of its first set of artificial intelligence features, dubbed “Apple Intelligence,” to its premium iPhone, iPad, and Mac devices on Monday. Apple enters the AI race with this release, which was first shown off by the company in June. The US tech giants have rushed into technology similar to ChatGPT. In order not to fall behind, Google, Microsoft, Amazon, and Apple have increased their spending because they are convinced that the capabilities of generative AI are the next phase of computing. In a blog post, Apple CEO Tim Cook…
According to a statement released on Tuesday, the Asian Development Bank (ADB) has approved a $500 million policy-based loan to support Pakistan’s resilience to climate change, disaster risk reduction, and other hazards. According to estimates from the government, massive floods brought on by climate change will strike Pakistan in 2022. They will kill 1,700 people, wipe out swaths of agricultural land, affect 33 million people, and cause losses worth $30 billion. Pakistan’s institutional capacity for planning, preparedness, and response will be strengthened by the Climate and Disaster Resilience Enhancement Program (CDREP); bolster climate resilience and risk reduction through inclusive investment;…
GUJRAT: On Monday, Chief Minister Maryam Nawaz stated that in a record-breaking six months, ten projects worth Rs400 billion for farmers had been launched. The distribution of Chief Minister Kisan Cards worth Rs150 billion marks a first in Punjabi history. On Monday, the chief minister was addressing the attendees of the Kissan Card distribution ceremony in Hafizabad. She announced an increase from 0.5 million to 0.7 million Kisan Cards. She also said that farmers who grew wheat on 12 and a half to 25 acres would get a free laser leveler. She announced that farmers with more than 25 acres…
KARACHI: Police said that on Monday, a dumper truck struck and killed a motorcyclist in North Karachi. They claimed that enraged individuals set the dumper on fire following the accident. Sufiyan Hafeez, 18, was the victim, according to Central SSP Zeeshan Shafiq Siddiqi, who said the dumper hit his motorcycle near Saima Blessing, which falls under the jurisdiction of the Bilal Colony police station. He was taken to the Abbasi Shaheed Hospital with serious injuries, where doctors immediately declared him dead. The SSP added that the errant driver, Fazal Wali Khan, was taken into custody.
KARACHI: Three men held for allegedly assaulting women during a dispute at a Defence Housing Authority restaurant on Sunday were granted bail by a judicial magistrate on Monday. The fight between two families became so popular on social media that the police had to step in. According to Pakistan’s Penal Code sections 354 (assault or criminal force to woman with intent to outrage her modesty), 506 (punishment for criminal intimidation), 504 (intentional insult with intent to provoke breach of the peace), 337-A (punishment of shajjah), and 34 (common intention), the Darakhshan police filed an FIR on the complaint of Shahid…
ISLAMABAD: The Case Management Plan 2023, conceived by senior puisne judge Justice Syed Mansoor Ali Shah, was approved by the Supreme Court’s full court on Monday to address the court’s growing case backlog. A one-month case management plan developed by Justice Shah was reviewed at the meeting, which was presided over by Chief Justice of Pakistan (CJP) Yahya Afridi. This plan integrates information technology with clear standards to efficiently manage all types of cases. All SC judges attended the meeting, which was called by the CJP and included Justice Mansoor Shah, who joined via video link from overseas. The objective…
Prime Minister Shehbaz Sharif advocated for the use of artificial intelligence (AI). He also emphasized the significance of a knowledge-based economy that is driven by innovation in the fields of AI, education, and health and called for global collaboration and partnerships to address current issues. The prime minister arrived in Riyadh earlier today to attend the Future Investment Initiative (FII), which lasts for two days. The FII, which is scheduled for the 29th and 30th of October, is a significant platform for nations to demonstrate their economic potential, attract investments from abroad, and discuss strategies for long-term growth. This year’s…
