After rising for two weeks in a row, the SPI-based inflation returned to a moderate increase. Friday’s official data showed a 0.08 percent decrease from the previous week. The year-on-year increase shows that costs have risen contrasted with the earlier year. The deceleration is merely a price growth slowdown. Prices have not fallen as a result of this. The week after week expansion hit a record 48.35pc year-on-year toward the beginning of May 2023, however at that point decelerated as low as 24.4pc in late Aug 2023 preceding flooding past 40pc during the week finishing on Nov 16, 2023.
Author: Raja Zahid Khanzada
On Friday, the State Bank of Pakistan (SBP) released its annual report, which focuses on the significant advancements that will be made in the national payment ecosystem between the years 2023 and 2024. The report emphasizes the remarkable growth of digital payments, which is being driven by the increasing availability and adoption of digital payment channels, indicating that customers across the nation are increasingly relying on these systems. The report shows how banking in the country has changed clearly. The ongoing shift toward digital payment in Pakistan’s payment landscape is detailed in the report. “The retail installments have seen uncommon…
KARACHI: In the midst of recharged worries about the financial viewpoint after the pre-mature end of agreements with the Free Power Makers (IPPs), the securities exchange saw wild changes on Friday. However, with only modest gains, the benchmark index ended the weekend session in the green. According to Topline Securities Ltd., the market had changed as a result of the ongoing negotiations with the IPPs, in which five of them agreed to early termination of Power Purchase Agreements (PPAs). During the session, the KSE 100 index primarily traded in the negative zone, reaching an intraday low of 679 points at…
KARACHI: On Friday, the Sindh cabinet voiced its opposition to the power distribution companies (Discos)’ collective punishment of prolonged loadshedding and urged the federal government to make changes to load management laws. The cabinet also called “unconstitutional” the practice of Discos shutting down an entire area’s power feeder under the guise of not paying bills or losing lines. According to official sources, the provincial cabinet meeting, which was presided over by Chief Minister Syed Murad Ali Shah, discussed the issue of loadshedding throughout the province and observed that the line losses caused by power theft by some consumers could not…
After meeting with Pope Francis at the Vatican, Spanish Prime Minister Pedro Sanchez called on the international community to stop selling weapons to Israel on Friday. He stated to reporters, “I do believe that it is urgent that, in light of everything that is happening in the Middle East, the international community stop exporting weapons to the government of Israel.” He was referring to the events in the Middle East. “This is an allure that I will make… to the whole global local area,” he said, it was significant “not to contribute somehow to the acceleration of viciousness and to…
Israeli State leader Benjamin Netanyahu this week encouraged the Lebanese nation to ascend against Hezbollah, or hazard a comparable destiny to Hamas-run Gaza. Ravina Shamdasani, a spokesperson for the UN Human Rights Office, stated at a Geneva media briefing, “We are appalled by sweeping inflammatory language on multiple sides.” “Recent language calling on the Lebanese people as a whole to rise up against Hezbollah or face destruction like Gaza risks being understood as encouraging or accepting violence directed against civilians and civilian objects, in violation of international law.” She also called “unacceptable” the “ongoing denigration of the United Nations, in…
2.5m organizations, housSIESTA KEY: The loss of life from Typhoon Milton rose to 16 on Friday, as occupants started the difficult course of piecing their lives and homes back together. Power was out to nearly 2.5 million homes and businesses, and some areas along the storm’s path from the Gulf of Mexico to the Atlantic Ocean remained flooded. As a category 3 storm late on Wednesday, Milton tore through communities still reeling from Hurricane Helene, which killed 237 people in the southeast United States, including in Florida. Milton left a desolate landscape on Siesta Key, a beautiful barrier island near…
A rare gathering of top US and Russian diplomats saw world leaders descend on the normally tranquil, temple-lined streets of Vientiane, the capital of Laos. Before the full summit, US Secretary of State Antony Blinken met with Asean leaders and reiterated his call for freedom of navigation in the South China Sea. Blinken stated, “We remain concerned about China’s increasingly dangerous and illegal actions on the South and East China Seas, which have injured people, harmed vessels from Asean countries, and contradict commitments to peaceful dispute resolution.” In addition, Blinken issued a warning to China regarding Taiwan, where the new…
LA: Musk introduces the “cybercab” robotaxi Elon Musk, CEO of Tesla, showed off a long-awaited robotaxi on Thursday with two gull-wing doors and no steering wheel or pedals. He also showed off a robotvan, which surprised people. Musk was betting on a shift in focus from cheap mass-market cars to robot cars. Musk arrived on stage at a glittering unveiling in a “Cybercab,” which would be produced in high volumes starting in 2026 and cost under $30,000 in total. He then presented the robovan which can convey up to 20 individuals however offered not many further subtleties. Be that as…
French President Emmanuel Macron said he would fight to make sure that Emily, the main character in the Netflix hit series Emily in Paris, comes back to Paris after her time in Rome. We will fight valiantly. What’s more, we will request that they stay in Paris! In a Wednesday interview, Macron stated to Variety magazine, “Emily in Paris in Rome doesn’t make sense.” The fourth time of the series saw American exile Emily — played by entertainer Lily Collins — move from Paris to Rome for work. Brigitte Macron, Macron’s wife, made a cameo appearance in the previous season…
