An engaging conference on equitable and sustainable growth held at LUMS
The first day of “Pathways to Development: Equitable and Sustainable Growth in Pakistan” saw prominent academics, researchers, social scientists, practitioners, policymakers, politicians, and great minds from the Pakistani diaspora gather at LUMS to discuss issues vital to sustainable development in Pakistan. The conference was organised jointly by the Chaudhry Nazar Muhammad Department of Economics and…
Adil Aziz
Prices of petroleum products to remain unchanged
Minister for Finance and Revenue Senator Muhammad Ishaq Dar here on Saturday said that the government has decided to keep the existing prices of petroleum products unchanged for next 15 days to facilitate the masses in the country, particularly to provide relief to lower-income people during intense winters. Addressing a press conference, the minister said…
SBP Issues Islamic Banking License to Faysal Bank Limited
State Bank of Pakistan (SBP) has issued an Islamic banking license to Faysal Bank Limited (FBL) making it the second-largest full-fledged Islamic bank in Pakistan. Commenting on the momentous occasion, Mr. Jameel Ahmed, Governor State Bank of Pakistan said, “Conversion of Faysal Bank is first of its kind in the banking history of Pakistan. This…
2022: The year Pakistan’s entertainment industry marks a historic comeback
As 2022 is about to take its final bow, adding a fair share in the revival of the Pakistani entertainment industry while bringing audiences back to cinemas, Pakistani films got the cash registers ringing at the box office. With back-to-back hit films smashing global records, Pakistani cinema staged a comeback in 2022 like never before…
Floods push economic growth below budgeted target: Economic Outlook
The economic growth for the fiscal year 2022-23 is likely to remain below the budgeted target due to devastation created by floods. “This combination of low growth, high inflation and low levels of official reserves is particularly challenging for policy makers,” says the Monthly Economic Update and Outlook for December 2022. It says, as in…
China Covid wave sparks scramble for vital drugs across region
A TSUNAMI of coronavirus infections in China is causing shortages of key drugs across the region, as relatives and friends living overseas ship painkillers and antivirals from abroad, driving up prices and forcing some stores to cap purchases. South Korea’s health ministry warned on Wednesday (Dec 28) that it would punish the sale of “excessive…
Huawei Says It Is Out of ‘Crisis Mode’ as Annual Revenue Stabilized
Chairman says U.S. restrictions are ‘new normal’ and company is ‘back to business as usual’ as telecom business sees growth Huawei Technologies Co. said it has exited “crisis mode” following punishing U.S. restrictions, as it reported growth in its telecom-infrastructure business and flat overall revenue for 2022. “U.S. restrictions are now our new normal, and…
Oil drops on China uncertainty; US demand limits decline
OIL prices fell for a second straight session on Thursday (Dec 29) on an uncertain demand outlook as more countries considered restrictions on Chinese travellers with Covid-19 infections spreading in the top oil-importing nation. China’s government is dismantling pandemic restrictions, yet a surge in infections there is prompting tougher travel rules on Chinese visitors in…
Experts demand scientific forum, evidence to address growing leopard encounter issue
Experts demanded the quarters concerned to come forward for a collective effort to form a technical forum to gather scientific evidence in order to tackle growing leopard encounter issue. Recently, an endangered Common Asian Leopard got killed after being hit by two vehicles on the Grand Truck Road near Taxila-Sangjani area while chasing its prey….
Government releases Rs 4.21Billion for IT project
The government has released funds amounting to Rs 4.21 billion to execute Information Technology related projects during the first four months of the current fiscal year under the Public Sector Development Programme (PSDP 2022-23). The government has authorized the utilization of development funds amounting to Rs 4,211.21 million out of a total allocation of 5,731.70…