The Pakistan Cricket Board (PCB) confirmed on Wednesday that the government had given it the go ahead to allow spectators up to 25 per cent of the stadium’s capacity in the HBL Pakistan Super League (PSL) 2022’s Karachi matches, which will be played at the National Stadium from January 27 to February 7. According to a statement issued by the PCB, the approval came from the National Command and Operation Centre (NCOC), which manages the the country’s response to the coronavirus. “The decision means around 8,000 spectators will be allowed inside the venue [on] each match day,” the statement said,…
Author: Hasnain Abid Khanzada
The International Cricket Council (ICC) on Wednesday unveiled its T20I team of the year with three players from Pakistan — Babar Azam, Mohammad Rizwan and Shaheen Shah Afridi — making the cut. Azam, who captains the Pakistan side, has been named the skipper of the ICC team for the shortest format. The team consists of Jos Butler, Mohammad Rizwan (wk), Babar Azam (c), Aiden Markram, Mitchell Marsh, David Miller, Tabraiz Shamsi, Josh Hazlewood, Wanindu Hasanranga, Mustafizur Rahman and Shaheen Shah Afridi. According to the ICC, releasing a team of the year is a way to recognise 11 “outstanding individuals who have impressed one…
ISLAMABAD: As the International Monetary Fund (IMF) has finally called its executive board’s meeting on January 28, Pakistan started the process for launching of over $1 billion Islamic Sukuk Bond, with unchanged B3 (stable) rating by Moody’s Investor Service. The expected inflow of more than $2bn over the next couple of weeks through two transactions — IMF disbursements and Sukuk Bond — is likely improve the country’s foreign exchange reserves for now and contain the exchange rate depreciation. The international debt market, however, remains under pressure that can entail relatively higher pricing and hence a tricky choice for the country’s…
ISLAMABAD: Pakistan’s non-textile exports grew 23 per cent year-on-year to $5.75 billion in the first half of the current fiscal year owing to the partial revival of international orders and the government support schemes. Overall growth in the non-textile sector is mainly led by the value-added sectors. The non-textile sectors have yet to receive full orders to pre-Covid levels, showed data compiled by the Pakistan Bureau of Statistics (PBS). In FY21, three sectors — leather garments, surgical instruments and engineering goods — have maintained growth in export proceeds despite lockdowns in many countries. In the value-added leather sector, exports of…
ISLAMABAD: The International Labour Organisation (ILO) has said the net employment losses in Asia and the Pacific region amounted to about 58 million in 2020 owing to the pandemic while 39m of the workers exited the labour force. Across Asia and the Pacific, the total working time in 2020 fell by the equivalent of over 130m full-time jobs, according to the World Employment and Social Outlook Report 2022 that the ILO office in Islamabad released on Tuesday. The pandemic is estimated to have driven over 2m workers below the extreme poverty line in Asia and the Pacific in 2020. In…
LAHORE: Taro Technologies, a Lahore-based emerging Fintech startup, has secured $3.5 million in pre-seed funding through a combination of strategic partnerships and angel investors to launch a Buy-Now, Pay-Later (BNPL) venture in Pakistan. As part of their pre-seed round, the company has partnered with Dubai-based Cashew Payments — a BNPL leader in the Gulf Cooperation Council (GCC) — to accelerate its 2022 Q1 launch and growth. “This partnership will enable us to be an established player straight out of the gate. Moreover, our collaboration with Cashew provides critical insights into risk, merchant acquisition, operations, and customer retention,” said Mustafa Khan,…
KARACHI: Foreign Direct Investment (FDI) increased 20 per cent year-on-year in the first half of 2021-22, reflecting an improvement in the investment environment. In the first half of the current fiscal year, FDI amounted to $1.05 billion against the inflow of $879.7 million in the same period of 2020-21. The inflow in December 2021 jumped 29pc year-on-year to $218.7m, data released by the State Bank of Pakistan (SBP) showed on Tuesday. During the entire 2020-21, the country received just $1.86bn in FDI, which is a relatively small amount compared with remittances and export proceeds. Media reports suggest Prime Minister Imran…
WASHINGTON: The chief executives of major US passenger and cargo carriers on Monday warned of an impending “catastrophic” aviation crisis in less than 36 hours, when AT&T and Verizon are set to deploy new 5G service. The airlines warned the new C-Band 5G service set to begin on Wednesday could render a significant number of widebody aircraft unusable, “could potentially strand tens of thousands of Americans overseas” and cause “chaos” for US flights. “Unless our major hubs are cleared to fly, the vast majority of the traveling and shipping public will essentially be grounded,” wrote the chief executives of American…
LONDON: The body of a British woman swept away by a devastating tsunami that struck Tonga has been found, her brother said in a statement received on Tuesday. A massive underwater volcanic blast near the Pacific island on Friday has left neighbouring countries scrambling to assess the full extent of the damage, with the tiny nation cut off from the world. The first confirmed death was Angela Glover, a 50-year-old who ran a stray animals charity, who was reported missing by her husband after the tsunami hit. “Earlier today my family was sadly informed that the body of my sister…
LONDON: UK Prime Minister Boris Johnson on Tuesday “categorically” denied claims by his former chief aide that he lied to parliament about a Downing Street party held during a strict lockdown. But appearing in public for the first time after days of Covid self-isolation, Johnson also ducked questions about whether he would resign if an internal inquiry establishes that he did lie. Johnson is battling damaging allegations that he and staff attended boozy events during Covid restrictions, prompting an investigation by senior civil servant Sue Gray. The revelations have sparked public fury, leading to a double-digit lead in polls for…
