Islamabad, Nov 21: Banks Achieve 44% Gross ADR as They Race to Avoid Additional Govt Taxes The Banking Sector’s Gross Advance to Deposit Ratio (ADR) increased to 44% as of October 25, 2024, up from 39% on September 27, 2024. According to Topline Securities, gross advances grew by 11%, reaching Rs. 13.4 trillion, while deposits declined by 1% to Rs. 30.5 trillion during this period. This rise is significant as the government has imposed an additional tax on banks failing to achieve a 50% ADR threshold by December 2024. Currently, the sector’s ADR stands at 44%. Few Banks Exceeding the…
Author: Mawadat Fatima
Islamabad, Nov 21: Norwegian authorities have introduced a plan to allow cities to implement “visitor contributions,” or tourist taxes, to manage the increasing number of visitors. According to Schengen.News, the proposal aims to fund public infrastructure and services that face higher demand due to tourism. The measure is currently under consultation, with no final decision yet. Cecilie Myrseth, Norway’s Minister for Business, highlighted the long-standing calls from tourist-heavy municipalities for such a tax. She believes this initiative will benefit both locals and visitors by alleviating the strain on public resources, especially during peak seasons. Myrseth explained, “Even a small contribution…
Islamabad, Nov 21: The November 19 edition of WWE NXT brought intense matches and pivotal developments, setting the tone for the highly anticipated Deadline event on December 7. From Iron Survivor Challenge qualifiers to a decisive No. 1 Contender’s match, the night reshaped the NXT landscape. Frazer Secures Spot in Iron Survivor Challenge Nathan Frazer defeated Eddy Thorpe in an Iron Survivor Qualifying Match, showcasing his agility and quick thinking amidst chaos at ringside. Frazer sealed his spot at Deadline with an impressive Phoenix Splash, adding a new layer of excitement as one-half of the NXT Tag Team Champions. Vaquer…
Islamabad, Nov 21: A concerning scam targeting Microsoft users has emerged, exploiting a vulnerability in the Microsoft 365 Admin Portal to send fraudulent emails from what appears to be a legitimate Microsoft.com address. These deceptive emails bypass spam filters, land directly in primary inboxes, and use tactics of fear and urgency to demand payments, typically in Bitcoin. The scammers use a strategy called sextortion, claiming to possess compromising images or videos of the recipient. They threaten to expose this content unless the ransom is paid. Some emails include personal details, such as birthdays, to enhance their credibility, though these details…
Islamabad, Nov 21: OpenAI has introduced Advanced Voice Mode for web browsers, allowing users to interact with ChatGPT through voice commands. Kevin Weil, the company’s Chief Product Officer, shared the update on X. Initially, the feature is exclusive to paid subscribers of Plus, Enterprise, Teams, or Edu plans, but it will soon become available to free-tier users. This development follows the September release of Advanced Voice Mode on iOS and Android devices. Harnessing the power of GPT-4’s audio capabilities, this feature enables fluid, real-time conversations with ChatGPT. It can recognize non-verbal cues such as speech pace and respond with a…
Islamabad, Nov 21: Chairman of the Council of Islamic Ideology (CII), Allama Raghib Naeemi, clarified his earlier remarks on Virtual Private Networks (VPNs), attributing the controversy to a typographical error. He assured everyone that the council never declared VPNs un-Islamic or ‘haram.’ The clarification followed a CII statement that mistakenly labeled VPN usage as un-Islamic, prompting the Ministry of Interior to direct the Pakistan Telecommunication Authority (PTA) to block unregistered VPNs. Consequently, PTA blocked several VPN services. Addressing a press conference in Islamabad, Allama Naeemi highlighted the misuse of social media for blasphemy, sectarianism, or extremism as unacceptable. He stated,…
Islamabad, Nov 21: Saudi Arabia suffered their second defeat as the UAE secured a 17-run victory in the ICC Men’s T20 World Cup Asia Qualifier B in Doha, Qatar. The UAE, who batted first, posted a total of 162-5 in 20 overs, while Saudi Arabia managed 145-6 in their reply at the West End Park International Cricket Stadium. The UAE’s innings began cautiously, with Ishtiaq Ahmad delivering a maiden over against Alishan Sharafu. Usman Najeeb continued to restrict runs in the next over. Sharafu fell for 19 in the fifth over, followed by skipper Muhammad Waseem in the next, leaving…
Islamabad, Nov 20: France reaffirmed its commitment to supporting the global effort to eradicate polio as Pakistan grapples with a rise in polio cases. During the Polio Oversight Board (POB) delegation’s visit to Pakistan, French Ambassador Nicolas Galey hosted a reception at his residence to engage stakeholders, including the government, diplomatic corps, and donor community, to address the polio outbreak. The French Embassy, in collaboration with Agence Française de Développement (AFD), is backing Pakistan’s polio eradication efforts through financial and operational support. This includes a $55 million concessional loan, partially funded by a $20 million grant from the Bill &…
Islamabad, Nov 20: Ambassador Nicolas Galey of France, while speaking as the Chief Guest at the final match of the Girls Basketball Tournament at Hamidi Hall, highlighted the transformative power of sports. He emphasized that qualities like teamwork, perseverance, and resilience, cultivated through sports, play a pivotal role in shaping personalities and preparing individuals to navigate life’s challenges. A total of eight amateur teams from different areas of Islamabad took part in an all-girls basketball tournament titled ‘Equal Playing Field.’ A large number of schoolgirls attended the intensely contested match that was ultimately won by ‘Dream Team’ but superbly fought…
Islamabad, Nov 20: Romina Khurshid Alam, Coordinator to the Prime Minister on Climate Change, emphasized the urgent need for climate-vulnerable developing countries to develop comprehensive strategies to address the loss and damage caused by climate change. Highlighting the increasing severity of extreme weather events, rising sea levels, and droughts, she stressed the importance of integrating disaster risk financing into broader loss and damage efforts to build resilience and support long-term recovery. She made these remarks during her keynote address at the event ‘Pakistan and the Global Shield’ at the Pakistan Pavilion in Baku, held on the sidelines of the COP29…
