Author: newsdesk

  • Asad Shafiq retires from professional cricket

    Asad Shafiq retires from professional cricket

    Pakistan cricket team’s right-handed batsman Asad Shafiq has announced his retirement from professional (international and domestic) cricket.

    The batsman said he will retire from domestic cricket after playing three more matches in the Patron Trophy.

    On Sunday, Karachi Whites clinched the title after defeating Abbottabad by nine runs in the final of the National T20 Cup.

    While holding a press conference after the match, Asad Shafiq said “Today I am retiring from cricket, I will also retire from domestic cricket after playing three matches of Patron’s Trophy”.

    “I am not feeling the enthusiasm that I had in the beginning, I am thankful to the people who have supported me throughout my career, Pakistan Cricket Board (PCB) has offered me to join the selection committee, and I feel happy. I feel lucky to have represented Pakistan in all three formats,” Asad said.

    He said, “There is love for cricket but passion fades with age. When we became number one in Tests, that was the most memorable moment, playing the World Cup semi-final was also memorable. There has been no moment that I can say has been disappointing.”

    Asad Shafiq said that he had decided before the start of this season that it would be his last.

    “My focus has always been Test cricket, so I have not focused much on T20. Adelaide Test will always be remembered, if we had won it would have been even better. Breaking Javed Miandad’s record is also a matter of pride for me.”

    After Asad Shafiq announced his retirement from professional cricket, his teammates gave him a guard of honor.

    Asad Shafiq scored 12042 runs in 191 First Class matches and 5784 runs in 162 List A matches.

    The batsman, who made his international debut in 2010, played 77 Tests, 60 ODIs, and 10 T20Is for Pakistan. He scored 4,660 runs at an average of 38.19 in Test matches, including 12 centuries. He also scored 1,336 runs in ODIs and 192 runs in T20 Internationals.

  • Govt may cut petrol price by more than Rs10 per litre

    Govt may cut petrol price by more than Rs10 per litre

    The government is poised to provide significant relief by potentially reducing petrol and diesel prices by Rs13 and Rs15 per litre, respectively, in the upcoming fortnightly pricing update.

    This anticipated reduction is attributed to a noteworthy downturn in international petroleum and diesel prices over the past fortnight.

    The stability of the local currency at a weighted average of approximately PKR 284.33 per USD further contributes to this potential relief. 

    Current estimates as of December 2008 reveal a global decline in petrol and diesel prices by 5.44 per cent and 5.6 per cent, reaching $94.95 and $100.05 per barrel, respectively.

    As the next pricing update is still a week away, the future trajectory of these prices hinges on global market movements and exchange rate fluctuations. 

    Notably, in the preceding fortnight, the government maintained the petrol price at Rs281.34 while reducing the HSD price by Rs7 to Rs289.71 per litre.

  • iPhone 16 batteries to be primarily manufactured in India

    iPhone 16 batteries to be primarily manufactured in India

    In a strategic manoeuvre aimed at reducing its reliance on China, Apple has reportedly communicated a strong preference for manufacturing iPhone 16 batteries in India.

    As part of this initiative, an existing Indian battery supplier has been encouraged to scale up production, while Chinese suppliers, including Desay and Simplo Technology, have received directives to establish battery factories within India.

    Additionally, Japanese battery supplier TDK is gearing up for its own production facility in the country.

    This significant shift in strategy deviates from the original decision made by Steve Jobs to centralize most of Apple’s manufacturing operations in China, a move that was previously lauded as a key achievement by Tim Cook during his tenure as COO. 

    The change reflects a growing recognition of the strategic risks associated with being overly dependent on a single country, evident in events such as the COVID-19 pandemic and ongoing geopolitical tensions between the US and China.

    The multifaceted rationale behind this move includes concerns about the impact of global events on manufacturing capacity, the unpredictability of trade relations between major economies, and the reputational challenges posed by close associations with a country facing human rights criticisms.

    Apple’s decision aligns with a broader industry trend of diversifying manufacturing locations to mitigate risks associated with geopolitical and economic uncertainties.

    Notably, the company aims to prioritise Indian production for iPhone 16 batteries, with local government support evident in a Japanese supplier, TDK, establishing a significant facility in Manesar, Haryana.

    While this facility is expected to begin production in 2025, post-iPhone 16 release, it signifies a strategic commitment to bolstering the electronics manufacturing ecosystem in India.

    Apple’s move underlines the industry’s evolving approach to supply chain management in response to a dynamic global landscape.

  • White House approves ’emergency’ sale of tanks to Israel amidst war on Gaza

    White House approves ’emergency’ sale of tanks to Israel amidst war on Gaza

    The US State Department has approved the emergency sale to Israel of nearly 14,000 rounds of tank ammunition, it said Saturday.

    The department said it had notified Congress on Friday of a sale of 13,981 high-explosive 120mm tank cartridges and related equipment worth $106.5 million.

    That sale, while relatively small, comes amid heated political debate over the Gaza war, with Republicans slowing a far larger Biden administration request for new military spending for Israel and Ukraine, and Democrats divided over the use of US weaponry against Palestinian civilians.

    The State Department said the secretary of state had determined that “an emergency exists that requires the immediate sale to the Government of Israel” of the weaponry, thereby waiving the normal requirement of Congressional review.

    The statement said the sale, from US Army inventory, would be used by Israel “as a deterrent to regional threats and to strengthen its homeland defense” and would “not alter the basic military balance in the region.”

    On Wednesday, Republican senators blocked a White House request for $106 billion in emergency aid primarily for Ukraine and Israel as conservatives balked at the exclusion of immigration reforms they had demanded.

    The package would include roughly $60 billion to help Ukraine in its war with Russia and $10 billion for Israel in its conflict with Hamas, as well as aid for Taiwan.

    With the death toll in Gaza steadily mounting, meantime, some Democrats have strongly urged Israel to carry out a more targeted offensive against Hamas targets and limit civilian casualties.

  • Anti-corruption victory: NAB recovers Rs2.3 trillion, saves $10 billion

    Anti-corruption victory: NAB recovers Rs2.3 trillion, saves $10 billion

    National Accountability Bureau (NAB) Chairman Lt Gen (retd) Nazir Ahmed announced a significant achievement, revealing that the bureau has successfully recovered an impressive amount of Rs2.3 trillion and saved over $10 billion in savings for the national exchequer. 

    Speaking at an event, he highlighted the necessity of collective efforts in combating corruption, emphasising that every instance of corruption should face consequences.

    Chairman Nazir Ahmed underscored the importance of collaboration among all stakeholders, stating that the eradication of corruption is a shared responsibility that no single institution can accomplish alone. 

    He reiterated NAB’s commitment to fulfilling obligations outlined in the United Nations Convention against Corruption (UNCAC), emphasising that documenting the economy is a crucial step in reducing corruption.

    Prominent economist Dr Ashfaque Hasan Khan and UNODC Pakistan’s Country Representative, Jermey Milsom, attended the event as guest speakers. 

    Dr Khan, in his keynote speech, emphasised the citizen’s responsibility to register in the taxation system for access to state welfare benefits.

    He highlighted the plight of individuals in the informal/unregistered economy facing poverty due to limited access to banking incentives, proposing a restructuring of the tax system to provide incentives rather than relying solely on punitive measures.

  • China and UAE expected to inject $500 million into Pakistan’s LNG projects 

    China and UAE expected to inject $500 million into Pakistan’s LNG projects 

    China and the United Arab Emirates (UAE) are considering investing $500 million in two liquefied natural gas (LNG) projects in Pakistan.  

    The China National Chemical Engineering Company (CNCEC) and LNGFlex, a subsidiary of Bison in the UAE, are expected to contribute to the development of LNG terminals and supply infrastructure. 

    Sources reveal that these companies have outlined plans for both virtual and non-virtual projects. The aim is to establish a virtual LNG project, which includes a receiving terminal and storage facility at Karachi port. 

    Earlier, Pakistan and the UAE inked several multi-billion-dollar Memoranda of Understanding (MoUs) to enhance economic and strategic cooperation between the two nations. 

    It’s worth noting that in June, Bloomberg reported that Pakistan faced challenges in securing liquefied natural gas (LNG) from the spot market.  

    The attempt to purchase six shipments for October to December through Pakistan LNG Limited (PLL) was unsuccessful, as no suppliers responded to the offer.  

    Overseas banks were reportedly unwilling to accept letters of credit from Pakistani counterparts, contributing to suppliers’ reluctance to provide LNG cargoes. 

    The failure to secure gas may worsen energy shortages in Pakistan, leading to more frequent blackouts and limiting fuel supply to industrial consumers. 

  • 24 karat gold price drops by Rs3,000 per tola 

    24 karat gold price drops by Rs3,000 per tola 

    On Saturday, the price of 24 karat gold per tola experienced a decrease of Rs3,000, reaching Rs215,600 as compared to its previous value of Rs218,600 on the last trading day. 

    Similarly, the cost of 10 grammes of 24 karat gold saw a decline of Rs2,572, settling at Rs184,842 from its earlier rate of Rs187,414. 

    The price of 10 grammes of 22-karat gold also decreased, falling to Rs169,439 from Rs171,786, according to the All Sindh Sarafa Jewellers Association. 

    Meanwhile, the prices of silver remained unchanged, with per tola and ten grammes priced at Rs. 2,600 and Rs2,229.08, respectively. 

    In the international market, the cost of gold experienced a drop of $26, reaching $2,024 from its previous value of $2,050, as reported by the Association. 

  • A loyal, committed partner is better than a life in showbiz: Resham

    A loyal, committed partner is better than a life in showbiz: Resham

    In a recent podcast interview with journalist Maliha Rahman, Actor Resham expressed her concern about the rising divorce rates among actors in the entertainment industry. She specifically mentioned the separations of Sajal Aly and Ahad Raza Mir, as well as Imran Ashraf and Kiran Ashfaq, stating that the news saddened her, and she hoped their marriages hadn’t come to an end.

    She mentioned her close relationship with actress Sajal Aly, expressing deep sorrow over Sajal’s divorce, considering they had previously worked together in “Mohabbat Jaye Bhaar Main.” Resham also mentioned actor Imran Ashraf and recalled meeting him and his ex-wife Kiran Ashfaque at an event, noting that they seemed happy together.

    The string of divorces in the industry has made Resham more cautious, prompting her to consider marrying someone outside the entertainment circle, she said. At the end of the interview, Resham spoke about her hopes for a future partner who was willing to commit to a lasting relationship.
    Resham also revealed that she would have left showbiz long ago if she had found a good life partner, who was loyal and committed.
    The veteran actress is set to make a strong comeback to the silver screen in the movie “Gunjal,” featuring Ahmad Ali Akbar in the lead role.

  • Salman Khan shares heartwarming images on Dharmendra’s 88th birthday

    Salman Khan shares heartwarming images on Dharmendra’s 88th birthday

    Actor Salman Khan has shared endearing images capturing heartfelt moments with Actor Dharmendra on his 88th birthday.

    Khan took to Instagram to share some heartwarming pictures and wish him a happy birthday.
    In one picture, Dharmendra is seated on a sofa, while Khan sits in front of him. Another image captures them standing together behind the sofa, with Khan placing his hands on Dharmendra’s shoulders.
    Khan captioned the pictures with, ‘Happy Birthday Dharam Ji,’.

  • Nawaz Sharif wants those who removed him as prime minister to pay the price

    Nawaz Sharif wants those who removed him as prime minister to pay the price

    Pakistan Muslim League-Nawaz (PML-N) supremo Nawaz Sharif repeated that he wants those who removed him as prime minister to be held accountable.

    “The country was thriving from 2013 to 2017 and the economy was better; however, good people were thrown out and Pakistan was handed to clumsy people,” said the PML-N chief while addressing the party’s parliamentary board meeting in Lahore.

    For the second consecutive day, the PML-N leader has emphasised the need for holding accountable those responsible for his removal since his return to the country in October, following a four-year self-imposed exile in London.

    The day before, when addressing PML-N ticket holders, he accused former generals and judges of filing baseless cases against him and causing harm to the country.

    Nawaz started his address today by expressing that, despite being physically distant, he remained deeply connected to the party members emotionally. He emphasised that he consistently kept his friends and companions in his thoughts.

    “During our time, the economy was better and development was at its peak. We still pray that the country is steered out of difficulties,” said the PML-N supremo.