Islamabad: Federal Minister Abdul Aleem Khan has expressed optimism about the potential transfer of major Chinese companies to Pakistan for investment. He emphasized that there will be bilateral investments in education, technology, and various sectors from China. Speaking at a joint business conference in Beijing attended by 25 key Chinese companies interested in investing in Pakistan, Khan noted that 70% of the Pakistani population is young, offering a better labor force and a larger consumer market for businesses. He pointed out that Pakistan has a strong IT workforce and highlighted that operational costs would be 70% lower compared to North…
Author: Hasnain Abid Khanzada
Islamabad: In the first two months (July and August) of the fiscal year 2024-25, Pakistan has witnessed a decrease in inflation and an increase in the value of the rupee. Inflation has dropped from 23.4% to 9.6%, while remittances, exports, imports, and foreign investments have all shown significant growth. The Ministry of Finance has released a report detailing the economic performance during July and August, highlighting positive developments in Pakistan’s economy. The report indicates that during these months, there has been a reduction in inflation, an increase in industrial production and exports, a decline in the current account deficit, and…
Karachi: The State Bank of Pakistan (SBP) has announced that it has received the first installment of $7 billion from the International Monetary Fund (IMF). In a statement, the State Bank confirmed that it has received $1.0269 billion as part of the extended fund facility approved by the IMF Executive Board for a duration of 37 months. The announcement stated that this first installment from the IMF will bolster the country’s foreign exchange reserves and will be reflected in the data to be released on October 30, 2024. According to the State Bank, with the receipt of this IMF tranche,…
Karachi: The Pakistan Stock Exchange remained under the shadow of bearish trends on Friday, primarily due to stringent conditions associated with the IMF loan program, rollover week, and profit-taking activities. This led to a decline in the prices of 53.30% of shares, resulting in investors losing approximately PKR 59.80 billion. The market faced pressure from offloading shares in various sectors, including banking, oil and gas, and automotive, causing a dip of up to 475 points at one stage. However, buying activities picked up towards the end of the trading session at lower prices, somewhat easing the intensity of the downturn.…
Karachi: Gold prices have decreased in both global and local markets. In the international bullion market, the price of gold per ounce has dropped by $2, bringing the new global price to $2,663. Meanwhile, in local jewelry markets, the price of 24-carat gold per tola fell by PKR 300 on Friday, settling at PKR 276,700 per tola. Similarly, the price for 10 grams of gold has decreased by PKR 256, now standing at PKR 237,226.
Sri Lankan batter Kamindu Mendis has equaled Babar Azam’s two-year-old record in the ongoing Test match against New Zealand. In the second Test match being played in Galle, Mendis achieved this milestone by scoring a half-century against New Zealand, matching Babar Azam’s record for consecutive Test half-centuries. He has now matched the record for scoring eight consecutive half-centuries in Test cricket, a feat that Babar Azam accomplished back in 2022. Additionally, Kamindu Mendis is the first Sri Lankan player to score 50 or more runs in each of his first eight Test matches, surpassing Pakistan’s Saud Shakeel, who previously held…
Ahead of the ICC Champions Trophy 2025, Pakistan Cricket Board (PCB) Chairman Mohsin Naqvi is expected to meet Jay Shah, Secretary of the Board of Control for Cricket in India (BCCI) and Chairman of the International Cricket Council (ICC). Media reports indicate that the two officials will meet during the final match of the ICC Women’s T20 World Cup, scheduled to take place next month in the United Arab Emirates. Meanwhile, reports have revealed that the PCB is awaiting final approval of the schedule for the Champions Trophy to confirm logistical arrangements. In a recent meeting with ICC officials, the…
Samin Rana, CEO of the Pakistan Super League (PSL) champion team Lahore Qalandars, has expressed his views on the adjustments to the 10th edition of the league due to the upcoming Champions Trophy. In an interview with a private TV channel, Rana stated that for the first time, the PSL will not take place within its usual time frame because of the Champions Trophy, and there is a possibility that the dates will be pushed back. However, he expressed joy that the ICC event is returning to Pakistan. He mentioned, “We are hopeful for the success of the event. After…
England’s 33-member squad, led by Ben Stokes, is set to arrive in Multan on October 2 to compete in a three-match Test series against Pakistan. According to sources, the English team will be accompanied by 16 players and an equal number of team officials. Their arrival in Multan has been confirmed for Wednesday afternoon, following a transit in Doha. Notably, eight players in the touring squad—Harry Brook, Rehan Ahmed, Zak Crawley, Ben Duckett, Jack Leach, Ollie Pope, Joe Root, and captain Ben Stokes—were part of the team that defeated Pakistan 3-0 in 2022. In contrast, the national team, under Babar…
Pakistani cricket’s distinguished umpire, Aleem Dar, known for his presence on the ICC Elite Panel, has announced his retirement at the conclusion of the 2024 domestic season. His illustrious career spans a remarkable quarter of a century, during which he has been recognized as a true gentleman both on and off the field. Dar has won the ICC Umpire of the Year award three times, receiving the David Shepherd Trophy from 2009 to 2011. At 56 years old, Aleem began his journey in cricket as a player, participating in 17 first-class and 18 List A matches between 1986 and 1998.…
