Islamabad, Feb 13: Bank Alfalah has significantly bolstered its commitment to financial inclusion by increasing its investment in Qist Bazaar, Pakistan’s rapidly growing buy-now-pay-later (BNPL) platform, with an additional PKR 55 million in the company’s Series A funding round. This increase comes as part of a broader PKR 800 million raise for Qist Bazaar, reflecting the bank’s strong confidence in the platform’s vision and future growth potential. Qist Bazaar has experienced impressive growth since its inception, now operating 40 branches across seven cities. The platform has primarily focused on serving Pakistan’s unbanked and underbanked populations, offering affordable, installment-based payment solutions…
Author: Iqra Khan
Islamabad, Feb 13: Meezan Bank (MEBL) reported a strong performance for the calendar year 2024, posting earnings of Rs. 101.5 billion, a 20 percent year-on-year (YoY) increase, translating to an earnings per share (EPS) of Rs. 56.5. This marks the highest-ever annual profit for the bank, positioning it as one of the most profitable players in the sector. In addition to the stellar financial performance, the bank declared a record dividend payout of Rs. 28 per share. However, the bank’s performance in the fourth quarter of 2024 showed a decline in earnings. The bank recorded earnings of Rs. 23.9 billion,…
Islamabad, Feb 13: Sportico has unveiled its fourth annual ranking of the world’s highest-paid athletes, spotlighting the biggest earners in professional sports for 2024. This year’s list reflects a revised methodology, now tracking earnings strictly within the calendar year rather than the previous rolling 12-month system. The results underscore the staggering financial power of modern athletes, with football, basketball, and boxing dominating the top positions.
Islamabad, Feb 13: Cybersecurity experts at DEF CON, the world’s largest hacker conference, have sounded the alarm over the inadequacy of current AI security measures, calling for a fundamental overhaul. The concerns were outlined in the first-ever “Hackers’ Almanack” report, a collaborative effort between DEF CON and the University of Chicago’s Cyber Policy Initiative. The report highlights critical gaps in AI security, arguing that existing approaches fail to keep pace with evolving threats. A major critique in the report focuses on “red teaming,” a widely used method where security specialists attempt to expose vulnerabilities in AI models. According to Sven…
Islamabad, Feb 13: Mohammad Rizwan continues to prove himself as Pakistan’s most reliable batter in high-pressure situations, surpassing yet another record previously held by Babar Azam. In Pakistan’s thrilling victory over South Africa during the tri-series fixture in Karachi, Rizwan cemented his place as the country’s highest run-scorer in successful 300+ ODI chases, further solidifying his reputation as a clutch performer. With an impressive 425 runs in just seven innings at an astonishing average of 141.67, Rizwan has now overtaken Babar Azam, who had accumulated 399 runs at an average of 103.64 in similar run chases. Rizwan’s latest match-winning century…
Islamabad, Feb 12: Allama Iqbal Open University (AIOU) has announced the schedule for the written entry tests for admission to its MS, M.Phil, and Ph.D. programs for the Spring 2025 semester. The tests will be held from October 24 to 27, 2025, with each faculty’s entry test scheduled on different dates. The Faculty of Education’s test will take place on February 24, followed by the Faculty of Social Sciences on February 25, the Faculty of Arabic and Islamic Studies on February 26, and the Faculty of Sciences on February 27. All entry tests will begin at 9:00 AM at various…
Islamabad, Feb 12: Russia and Pakistan are set to enhance cooperation in multiple sectors, focusing on energy, industry, agriculture, and transport in 2025, according to a statement by Albert P. Khorev, the Russian Ambassador to Pakistan. Speaking to the state-owned TASS News Agency, Khorev highlighted the ongoing efforts to modernize the Karachi Steel Mills and emphasized the importance of developing international transport corridors. Among the key projects being considered is the modernization of the Quetta-Taftan railway line, aimed at improving connectivity and facilitating trade between the two nations. Khorev also discussed the potential of increasing maritime cargo transportation, which holds…
Islamabad, Feb 12: The British High Commissioner to Pakistan, Jane Marriott CMG OBE, met with Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, on Wednesday to discuss key areas of mutual interest, including ongoing economic reforms, financial cooperation, and initiatives under the UK’s support programs in Pakistan. The meeting, which took place in Islamabad, underscored the strengthening of bilateral ties between the two countries, especially in areas critical to Pakistan’s economic stability and growth. During the discussions, Senator Aurangzeb provided an update on Pakistan’s economic landscape, highlighting the government’s reform agenda aimed at stabilizing the macroeconomic situation. He emphasized…
Islamabad, Feb 12: Coordinator to the Prime Minister for Climate Change, Romina Khurshid Alam has announced to form a climate taskforce of volunteers to promote environmental action, combat climate change, and increase public engagement. “This new volunteer-driven initiative is designed to raise awareness about climate change and empower communities across the country to take meaningful action for environmental sustainability”, she added. She was talking to a 5- member delegation of Young Leaders Society Pakistan that called on her on Wednesday. More than 1 billion people are volunteering globally, with Asia and the Pacific leading in monthly volunteer numbers, followed by…
Islamabad, Feb 12: WhatsApp is rolling out a new feature that will allow users to assign custom labels to themselves in group chats. This feature, which has been spotted in the latest beta build for Android, is aimed at helping users clearly define their roles or identities within group conversations.
