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  • Chinese military offers help to Pakistan in fight against terrorism

    Chinese military offers help to Pakistan in fight against terrorism

    After the recent terrorist attack targeting Chinese nationals near Besham in Khyber Pakhtunkhwa, the Chinese military has offered assistance to Pakistan in dealing with various security challenges including terrorism.

    Five Chinese and one Pakistani were killed in the attack in Shangla on Tuesday.

    China’s Ministry of National Defence spokesperson Colonel Wu Qian said: “The Chinese military is willing to work with Pakistani side to continuously enhance our capability of tackling various security risks and challenges especially our ability to responding to terrorist attacks and jointly safeguard regional peace and stability.”

    Pakistan and China are all-weather strategic partners and have supported each other through thick and thin, he said. Both are “iron-clad brothers,” he responded to a question regarding PLA participation of the PLA tri-services contingent in the Pakistan Day military parade in Islamabad on March 23.

    Meanwhile, the Chief of Army Staff (COAS) General Asim Munir reacted to the Shangla terrorist attack by stating that the military “shall not leave any stone unturned to ensure that every foreign citizen, especially the Chinese nationals — contributing to the prosperity of Pakistan — is safe and secure in the country”.

  • Babar is back; becomes T20 captain again

    Babar is back; becomes T20 captain again

    The Pakistan Cricket Board (PCB) has decided to change the captain of the T20 national cricket team, reappointing Babar Azam as the new captain for the T20 series against New Zealand, Geo News had reported.

    Babar Azam met Chairman PCB Mohsin Naqvi last night after the selection committee recommended his name for the captaincy.

    According to sources, preparations for the World Cup and the previous series were discussed in the meeting.

    Mohsin Naqvi had tasked the National Selection Committee for suggestions and recommendations regarding the captaincy.

    In November last year, former Chairman Management Committee Zaka Ashraf removed Babar Azam from the captaincy, after which Shaheen Afridi was appointed as the captain of T20 and Shan Masood as the captain of Test format.

  • CJP throws weight behind commission to probe Judges’ letter

    CJP throws weight behind commission to probe Judges’ letter

    Chief Justice of Pakistan (CJP) Qazi Faez Isa on Thursday said that any “interference by the Executive in the affairs and judicial workings of Judges will not be tolerated”.

    The statement came through a widely anticipated press release by the Supreme Court after the CJP met with the Prime Minister of Pakistan Shehbaz Sharif yesterday regarding the six judges’ letter alleging meddling by spy agencies in judicial matters.

    The press release stated “under no circumstances can independence of judiciary be allowed to compromise,” adding that the CJP and the Senior Puisne Judge believed that an independent judiciary is a “foundational pillar which upholds the rule of law” and fosters a strong democracy.

    It added that a proposal was made to constitute an inquiry commission under the Pakistan Commissions of Inquiry Act, 2017 and it would be headed by a retired judge of “impeccable integrity” to probe into the allegations.

    The PM will undertake a Federal Cabinet meeting today to seek approval for the constitution of the said commission. The PM also assured the judges that his office will be taking strong measures to ensure judiciary’s independence.

  • Ireland will play T20 series against Pakistan

    Ireland will play T20 series against Pakistan

    Ireland has announced the schedule of a three-match T20 series against Pakistan, hosting the Asian nation in May this year.

    According to Ireland Cricket, the matches will be played on May 10, 12, and 14.

    Before the tour of Ireland, a series of five T20 matches will be played between the two countries in Pakistan. The matches will be played in Rawalpindi on April 18, 20 and 21, and in Lahore on April 25 and 27.

  • Two public holidays around the corner in Sindh

    Two public holidays around the corner in Sindh

    The Sindh government has announced two public holidays in the coming month. One is on April 1 and the second is on April 4.

    The Sindh government has declared April 1st as a public holiday for members of the Christian community for the “Day After Easter” for all public and private offices, autonomous bodies, semi-autonomous bodies, and corporations under the administrative control of the provincial government.

    Additionally, the Sindh government on Thursday announced a public holiday on April 4 on the occasion of the death anniversary of former prime minister and late Pakistan Peoples Party founder (PPP) founder Zulfikar Ali Bhutto.

    In a notification, the provincial authorities said: “The Government of Sindh has been pleased to declare 4th April, 2024 (Thursday) as Public Holiday on the occasion of 45th Martyrdom anniversary of Quaid-e-Awam Shaheed Zulfiqar Ali Bhutto, Ex-Prime Minister of Islamic Republic of Pakistan throughout the Province of Sindh.”

    This is applicable for all government offices, autonomous and semi-autonomous bodies, corporations, and local councils under the administrative control of the provincial government except those engaged in essential services will remain closed.

  • PSX hits historic high: KSE-100 closes at record-breaking 67,142

    PSX hits historic high: KSE-100 closes at record-breaking 67,142

    Pakistan Stock Exchange’s (PSX) KSE-100 index surged to unprecedented heights in Thursday’s trading, culminating at a historic peak of 67,142.12, marking a substantial uptick of 594.34 points or 0.89 per cent.

    Throughout the trading day, the index demonstrated unwavering positivity, cresting at an intraday zenith of 67,246.03 (+698.24) and a nadir of 66,690.94 (+143.15) points, reflecting robust investor sentiment and confidence in the market’s trajectory.

    Trading activity was buoyant, with the KSE-100 index witnessing a total turnover of 231.314 million shares, underlining robust investor participation and liquidity in the market.

    The stellar performance of the KSE-100 index was underpinned by the commendable contributions of various sectors, notably Commercial Banks, which bolstered the index with 184.39 points, followed by Fertiliser (89.9 points), Cement (85.95 points), Oil & Gas Exploration Companies (49.32 points), and Oil & Gas Marketing Companies (27.36 points).

    Conversely, certain sectors experienced marginal declines, with Leather & Tanneries leading the downturn with 6.69 points, trailed by Transport (2.26 points), Real Estate Investment Trust (0.69 points), Miscellaneous (0.35 points), and Modarabas (0.31 points), albeit their impact remained subdued in the broader market context.

    In parallel, the Pakistani rupee (PKR) demonstrated resilience against the US dollar in the interbank market, appreciating marginally by approximately 1 paisa.

    The currency closed the trading session at PKR 278.03 per USD, exhibiting strength compared to the preceding session’s closure at PKR 278.04 per USD.

    During intraday trading, the rupee reached a peak bid of 278.1 and a trough ask of 278, reflecting stability and confidence in the domestic currency’s valuation.

    In the open market, exchange companies quoted the dollar at PKR 278.04 for buying and PKR 280.41 for selling, indicative of prevailing market dynamics and demand-supply dynamics.

  • Pakistan’s CPI-based inflation predicted to decline to 20%

    Pakistan’s CPI-based inflation predicted to decline to 20%

    Consumer Price Index (CPI)-based inflation in Pakistan is forecasted to witness a further decline, potentially settling at approximately 20 per cent on a year-on-year (YoY) basis for March.

    This projection marks a decrease from the 23.1 per cent recorded in February, as indicated by a report from Arif Habib Limited (AHL) released on Thursday.

    The anticipated headline inflation rate for March 2024 is projected to stand at 20.2 per cent YoY, reflecting a notable downturn from the preceding month’s figure of 23.1 per cent YoY.

    AHL’s report also highlights a substantial drop compared to the same period in the previous year, March 2023, when the YoY inflation rate was registered at 35.4 per cent.

    Consequently, it is envisaged that the average CPI for the first nine months of the fiscal year 2023-24 will hover around a 27.2 per cent YoY level, consistent with the figures observed during the same period last year (SPLY), according to the brokerage house.

    On a monthly basis, AHL’s projections for March 2024 suggest a modest increase of 1.3 per cent, contrasting with the average month-on-month (MoM) rise of 1.7 per cent recorded over the first eight months of the fiscal year.

    This upturn in monthly inflation is primarily attributed to rises in key indices, notably the food index (+1.3 per cent MoM), transport index (+1.5 per cent MoM), and housing index (+2.9 per cent MoM), the report stated.

    The brokerage house attributed the increase in the food index to the impending Ramadan season, foreseeing a month-on-month surge in prices of fresh fruits, potatoes, onions, and tomatoes.

    Meanwhile, the housing index is expected to see an uptick primarily due to increases in gas tariffs and LPG prices.

    Additionally, the transport index is anticipated to remain elevated owing to a month-on-month rise in petroleum product prices, according to AHL.

  • Door that saved Rose in Titanic sells for over $700K

    Door that saved Rose in Titanic sells for over $700K

    The door prop, which saved Kate Winslet’s character Rose in the movie, ‘Titanic’ has been sold for over $700K at an auction conducted by the restaurant and resort chain Planet Hollywood.

    During the four-day memorabilia auction, the balsa wood board, known as the iconic ‘hero floating wood panel,’ fetched a winning bid of $718,750. It surpassed other famous props like Harrison Ford’s bullwhip from ‘Indiana Jones’ and Jack Torrance’s axe from ‘The Shining.’

    Bidding for the prop started at $60,000 and quickly soared past $700,000. The auctioneer emphasized the significance of the prop to the plot, describing it as the pivotal moment in the film’s storyline.

    In the scene, Jack, played by Leonardo DiCaprio, sacrificed himself by insisting there was only enough room on the door for Rose. Despite ongoing debate among fans about whether both characters could have fit on the door, director James Cameron has dismissed such theories, stating it was necessary for the hero to die according to the script.

  • ‘Just staggering’: UN says households waste one billion meals a day

    ‘Just staggering’: UN says households waste one billion meals a day

    Paris, France – Households around the world threw away one billion meals every single day in 2022 in what the United Nations on Wednesday called a “global tragedy” of food waste.

    More than $1 trillion worth of food was binned by households and businesses at a time when nearly 800 million people were going hungry, the UN’s latest Food Waste Index Report says.

    It said that more than 1 billion tonnes of food — almost one fifth of all the produce available on the market — was wasted in 2022, most of it by households.

    “Food waste is a global tragedy. Millions will go hungry today as food is wasted across the world,” Inger Andersen, executive director of the UN Environment Programme, said in a statement.

    Such wastage was not just a moral but “environmental failure”, the report said.

    Food waste produces five times the planet-heating emissions of the aviation sector, and requires huge tracts of land be converted for growing crops that are never eaten.

    The report, co-authored with non-profit organisation WRAP, is just the second on global food waste compiled by the UN and provides the most complete picture to date.

    As data collection has improved the true scale of the problem has become much clearer, said Clementine O’Connor from UNEP.

    “The more food waste you look for, the more that you find,” she told AFP.

    Billion meals binned

    The report said that the “billion meals” figure was a “very conservative estimate” and “the real amount could be much higher”.

    “For me, it’s just staggering,” Richard Swannell from WRAP told AFP.

    “You could actually feed all the people that are currently hungry in the world — about 800 million people — over a meal a day just from the food that is wasted every single year.”

    He said bringing together producers and retailers had helped reduce waste and get food to those who need it, and more such action was needed.

    Food services like restaurants, canteens and hotels were responsible for 28 percent of all wasted food in 2022, while retail like butchers and greengrocers dumped 12 percent.

    But the biggest culprits were households, which accounted for 60 percent — some 631 million tonnes.

    Swannell said much of this occurred because people were simply buying more food than they needed, but also misjudging portion sizes and not eating leftovers.

    Another issue was expiration dates, he said, with perfectly good produce being trashed because people incorrectly assumed their food had gone off.

    A lot of food, particularly in the developing world, was not so frivolously wasted, but instead lost in transportation or spoiling because of a lack of refrigeration, the report said.

    Contrary to popular belief, food waste is not just a “rich country” problem and can be observed across the world, the report said.

    Hotter countries, too, generated more waste, possibly due to higher consumption of fresh foods with substantial inedible parts.

    ‘Devastating effects’

    Businesses also underestimate the cost of wasting food to their bottom line because it was cheap to dump unused produce in landfill.

    “It’s quicker and easier to throw it away at the moment because the waste fee is either zero or very low,” O’Connor said.

    Food waste had “devastating effects” on people and the planet, the report said.

    Converting natural ecosystems for agriculture is a leading cause of habitat loss yet food waste takes up the equivalent of nearly 30 percent of the world’s farming land, the report said.

    “If we can reduce food waste across the entire of the supply chain, we can… minimise the need to have land set aside that’s growing stuff that’s never used,” Swannell said.

    It is also a key driver of climate change, generating up to 10 percent of annual greenhouse gas emissions.

    “If food waste was a country, it would be the third biggest emitter of greenhouse gas emissions on the planet behind the US and China,” Swannell said.

    But people rarely think about it, he said, despite the opportunity to “reduce our carbon footprint, reduce our greenhouse gas emissions, and save money, simply by making better use of the food that we’re already buying”.