Islamabad, Oct 2: Pakistan and Denmark have pledged to collaborate in addressing the severe impacts of climate change, as highlighted in a joint press briefing by Foreign Minister Bilawal Bhutto Zardari and Danish Minister Dan Jorgensen in Islamabad. Key Points from the Briefing: Recognition of Vulnerability: Both ministers acknowledged that their countries are significantly affected by climate change, with Pakistan, as a developing nation, seeking genuine cooperation from advanced countries like Denmark. Energy Diversification Strategy: Minister Zardari emphasized Pakistan’s potential for renewable energy generation, particularly from solar and wind sources, and indicated that strategies are being developed to diversify the…
Author: Mawadat Fatima
Islamabad, Oct 2: SBP Eases Rules for Conventional Banks to Convert to Islamic Banking To better assist banks in converting their branches, the State Bank of Pakistan has updated the criteria for transitioning conventional banking branches to Islamic banking branches, addressing the industry’s evolving needs. This revision comes as several banks plan to switch their operations from conventional to Islamic banking in the coming years, seeking regulatory support to simplify the conversion process. The initiative follows a ruling from the Federal Sharia Court aimed at abolishing interest-based banking in the country. In alignment with government plans, the banking regulator has…
Islamabad, Oct 2: Punjab School Timings Changed for Winter 2024 The Punjab government has announced adjustments to school timings in Lahore as the winter season approaches. Effective October 1, 2024, the new schedule will impact approximately 1,300 primary and secondary government schools in the city. Under the previous arrangement, single-shift schools opened at 8:00 AM and dismissed students at 1:30 PM from Monday to Thursday, with early closure at noon on Fridays. The revised timings will see schools starting at 7:45 AM, offering an earlier beginning to the school day. The dismissal time will remain unchanged at 1:30 PM during…
Islamabad, Oct 2: Pakistan’s Barter Trade Deal with Russia Unveiled Two agriculture-focused companies from Pakistan and one from Russia on Tuesday inked a barter trade deal at the inaugural Pakistan-Russia Trade and Investment Forum held in Moscow. Russian company Astarta Agrotrading has reached a procurement agreement with Pakistan’s Meskay & Femtee Trading Company and National Fruit Processing Factory for chickpeas, rice, mandarins, potatoes, and red lentils. Over 60 Pakistani companies participated in the forum, representing a diverse range of sectors, including textiles, leather goods, pharmaceuticals, food, agricultural products, and tourism services. These companies collectively boast an export value exceeding $500…
Islamabad, Oct 2: Diebold Nixdorf Celebrates 25 Years A Silver Jubilee Milestone Innovative Pvt Ltd (IPL) and Diebold Nixdorf (DN) celebrated a significant milestone in their enduring partnership with a Silver Jubilee Gala Dinner last night, marking 25 years of success. The event brought together prominent leaders from Pakistan’s banking sector, underscoring the strength of the IPL-DN relationship and their joint commitment to advancing the future of banking in Pakistan. The evening highlighted the collaborative accomplishments of both organizations, emphasizing their contributions to revolutionizing self-service banking solutions nationwide. Mr. Saleem Ullah, Deputy Governor of the State Bank of Pakistan and…
Islamabad, Oct 2: Punjab’s New Basmati Rice Varieties Aim to Enhance Production The Punjab Seed Council has officially approved two new basmati rice varieties that promise to increase yields by 50% compared to those currently cultivated. These new varieties are projected to produce between 60 and 65 maunds per acre, significantly higher than the current average of 40-45 maunds per acre. At the Annual General Meeting on Tuesday, Shahzad Ali Malik, Founder Chairman of the Rice Exporters Association of Pakistan (REAP), noted that this enhanced production capacity could create a surplus, potentially raising export earnings from $4 billion this year…
Islamabad, Oct 2: Infinix Smart 9 Available Now for $65 with 120Hz Display Infinix has quietly launched its latest entry-level device, the Smart 9, which promises up to 48 months of smooth performance. Currently available in Bangladesh and Malaysia, it is expected to make its way to Pakistan soon. The Smart 9 features an LCD panel that includes an Always-On display on its 6.7-inch 720p screen, boasting a 120Hz refresh rate. The punch-hole selfie camera doubles as a Dynamic Bar, displaying notifications and other information, reminiscent of Apple’s Dynamic Island. Internals and Software The device is powered by MediaTek’s Helio…
Islamabad, Oct 2: Crescent Cotton Sells Spinning Unit for Rs. 550 Million Crescent Cotton Mills Limited (PSX: CCM) has accepted an offer of Rs. 550 million for its spinning unit located in Tehsil Pattoki, District Kasur. According to a stock filing, the Chief Executive Officer and Director negotiated the offer, which includes the purchase of all assets of the spinning unit situated at 46 Km, Lahore Multan Road, Chak # 66, Dina Nath, Tehsil Pattoki, District Kasur. To formalize the transaction, the Assets Sale and Purchase Agreement has been signed between the seller and buyer. it is involved in manufacturing…
Islamabad, Oct 2: Excise Fines Tinted Cars and Unregistered Vehicles in Islamabad The Excise Department in Islamabad has launched a strict campaign against unregistered vehicles, non-standard number plates, and those with tinted windows. Fines Tinted Cars fitted with flashlights or police lights are also being closely monitored. Stringent penalties are being imposed, with hefty fines for violators, irrespective of the vehicle’s origin. According to the Excise Department, vehicles with engine capacities up to 1,000 cc will incur fines of Rs. 5,000, while those between 1,000 cc and 2,000 cc will face fines of Rs. 10,000. Vehicles exceeding 2,000 cc will be…
Islamabad, Oct 2: PIA Stops Using Iranian Airspace Amid Regional Tensions This move follows missile strikes by Tehran on Israel, raising concerns about a potential wider conflict in the Middle East. A PIA spokesperson confirmed the airline’s decision on Wednesday, stating that flights over Iran would be suspended until conditions improve. This announcement came shortly after reports of Iran launching over 180 ballistic missiles at Israel, which prompted Washington to reaffirm its support for Israel and declare that Iran would face significant repercussions for its actions. The United Nations Security Council is expected to meet to address the rising tensions,…