Saudi Arabia: Neom, a planned futuristic megacity in Saudi Arabia, announced on Sunday that its “first physical showcase” would open: a luxurious island in the Red Sea with restaurants, hotels, and berths for yachts. As a result of persistent doubts regarding Neom’s viability and ahead of a major investor forum that is sometimes referred to as “Davos in the Desert,” which will begin on Tuesday in Riyadh, the island known as Sindalah was opened. In a statement, chief executive Nadhmi al-Nasr said, “Neom is committed to supporting the Kingdom’s new era of luxury tourism, with the opening of Sindalah.” “Visitors…
Author: Hasnain Abid Khanzada
BURIRAM: Enea Bastianini of Ducati won the Thai MotoGP sprint race on Saturday. Jorge Martin and Francesco Bagnaia, who are both competing for the world title, finished second and third, respectively. Martin of Ducati Pramac increased his championship lead over Bagnaia to 22 points ahead of Sunday’s Buriram grand prix. Martin, who is attempting to win the world title for the first time, from Spain stated, “I was not used to this heat, it was really tough.” However, I was competitive and had good riding. Tomorrow’s race will be extremely difficult, so I need to concentrate. Bagnaia, the two-time defending…
LONDON: The striker’s 1-0 victory over Southampton propelled Manchester City to the top of the Premier League, while Bournemouth’s last-minute equalizer on Saturday frustrated Aston Villa. At the Etihad Stadium, Haaland ended that brief drought in the first half after going three league games without scoring. That was sufficient to propel Pep Guardiola’s team to first place, two points ahead of second-place Liverpool, which has the opportunity to reclaim pole position if they win their epic matchup with title rivals Arsenal on Sunday. City haven’t lost a league game at the Etihad in 35 games in the past two years,…
ISLAMABAD: The government has granted foreign visitors three months of temporary duty-free importation of automobiles in what appears to be an effort to encourage mobility among foreign tourists. The government has also decided that the adjudicating authority will confiscate commercially transported goods in accordance with the 2006 Baggage Rules. SROs 1649 and 1650 of 2024 have been issued by the Federal Board of Revenue (FBR) to inform the public of the proposed modifications to the customs regulations. A tourist will receive a delivery of a vehicle under the proposed amendments if they import it with a carnet-de-passage or a bank…
KARACHI: In contrast to the gloomy conditions of the previous year, the flourishing equity market attracted numerous initial public offerings (IPOs), and businesses raised more than Rs8 billion in the calendar year 2024. According to market experts, such a favorable scenario would emerge after 2021, making it appealing to investors. Additionally, the Pakistan Stock Exchange would set daily records, encouraging businesses to participate in the equity market. So far in 2024, seven listings have been completed. According to a research report by Arif Habib Ltd., the majority of market participants stated that the equity market is bullish on solid grounds,…
KARACHI: Unlike foreign sales of soft drinks, mineral water, and fast food, which have been negatively impacted by consumer boycotts in response to the massacre of thousands of Palestinians by Israeli forces over the past year, Pakistani manufacturers of essential foreign goods have not experienced significant declines. For instance, Nestlé Pakistan’s sales for the nine months ended September 30 were Rs149.2 billion, a measly 1.3 percent decrease from Rs151 billion during the same time last year. However, the business’s profit-after-tax (PAT) decreased by 29.50 percent to Rs12.2 billion from Rs15.8 billion the year before. According to Nestle, this decline was…
WASHINGTON: The details of a $50 billion loan to help Kyiv have been finalized by G7 leaders. The loan is backed by profits from Russian sovereign assets that were frozen after its invasion of Ukraine. The wealthy democracies that make up the Group of Seven have stated that they “have reached a consensus on how to deliver” the loans totaling approximately $50 billion, with the intention of beginning to distribute funds by the end of this year. The leaders of the G7 went on to say that “the loan proceeds will be disbursed through multiple channels to support Ukraine’s budgetary,…
TOKYO: On Saturday, candidates in Japan’s extremely close election made last-minute appeals to voters, as opinion polls suggested that the ruling coalition might not win a majority. The Liberal Democratic Party (LDP) would suffer its worst result since 2009 and Prime Minister Shigeru Ishiba would likely suffer a devastating blow in the event of such a shocking outcome in Sunday’s election. Ishiba, who has been a fan of trains, pop idols from the 1970s, and building model ships and planes, just took over as leader of the LDP, which has been in charge of Japan for nearly seven decades. On…
ISLAMABAD: Pakistan has received funding in the amount of $50 million from the Green Climate Fund (GCF) for a project that will use the country’s dynamic and expanding start-up ecosystem to develop domestic climate solutions. GCF and the National Rural Support Programme (NRSP) in Pakistan are utilizing Pakistan’s dynamic and expanding start-up ecosystem to support locally developed climate solutions. As an anchor investor in the Climaventures Fund, GCF will also make a first-loss equity commitment and provide funding for a venture accelerator. At its meeting in Songdo, Incheon, South Korea, the GCF executive board approved this as one of 16…
ISLAMABAD: Israel’s missile strikes on Iran on Saturday were harshly criticized by Pakistan, which characterized them as a “grave violation” of the country’s sovereignty and international law. The attacks posed a significant threat to peace and stability in an already volatile region, the Foreign Office stated in a statement. “Israeli military strikes against Iran’s sovereignty and territorial integrity are a serious violation of international law and the UN Charter.” The FO stated, holding Israel accountable for an “escalation and expansion of the conflict,” stating that “these strikes undermine the path to regional peace and stability and also constitute a dangerous…
