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Articles for tag: combat, Conflict, diplomatic, faces, Gauze, hamas, isolation, Israel, losses, October, Palestine, President Biden, UNGA, worst

December 13, 2023

News Desk

Israel faces worst combat losses since October, diplomatic isolation

CAIRO/JERUSALEM/GAZA: Israel reported its worst combat casualties in more than a month on Wednesday after an ambush in the ruins of Gaza City and faced growing diplomatic isolation as civilian deaths mounted and a humanitarian disaster worsened. Heavy fighting was ongoing in both northern and southern Gaza, a day after the United Nations called for an immediate humanitarian ceasefire. US President Joe Biden said Israel’s “indiscriminate” bombing of civilians is costing international support. Warplanes again bombed the length of Gaza and aid officials said the arrival of winter rain worsened conditions for hundreds of thousands sleeping rough in makeshift tents.

November 28, 2023

News Desk

Foreign companies repatriate a record $272.5 million in October

KARACHI: Foreign companies operating in different sectors of Pakistan’s economy continued to freely repatriate profits to their overseas headquarters totaling $272.5 million in 39 months in a single month, October 2023. October marks the second consecutive month in which they continued to post earnings without government and central bank restrictions, sending a strong signal to global investors to start new investment projects in Pakistan. Cumulatively in the first four months (July-October) of the current financial year 2023-24, multinational corporations (MNCs) have remitted $485.4 million. This is significantly higher than the total repatriation of $331 million in the previous fiscal year

November 24, 2023

News Desk

Auto industry ‘hit hard’ by inflation as car finance falls 23.5% y-o-y in October

High interest rates along with currency depreciation also play a role in declining car sales A customer talks to salespeople at a car dealership in Rawalpindi, Pakistan. — Reuters/File High interest rates are causing auto loans to shrink. Loans are down 3% month-on-month in September. Auto loans hit a record Rs 368bn in June ’22. KARACHI: High interest rates and inflation forced car loans to decline for the 16th consecutive month in October, The news it said on Friday citing data from the State Bank of Pakistan (SBP). According to the central bank, auto loans fell 23.5% year-on-year to Rs264

November 10, 2023

News Desk

Workers’ remittances increased by 11.5% in October

A currency trader counts $100 bills on a machine in this undated picture. — AFP/File SBP says incoming remittances stood at $8.8 billion from July-October. Remittances increased by 9.6% year-on-year. The analyst credits the crackdown on hudis/hawalas for the increase. KARACHI: Remittances from foreign workers were recorded at $2.5 billion in the month of October, up 11.5% month-on-month, State Bank of Pakistan (SBP) said in a statement on Friday. “On a growth level, in October 2023, remittances increased by 11.5% month-on-month and 9.6% year-on-year,” the central bank said. The central bank also shared that in the first four months of

November 5, 2023

News Desk

5.78% decrease in cement shipments in October

LAHORE: Cement shipments in October 2023 showed a decline of 5.78%, with total shipments amounting to 4.007 million tonnes, compared to 4.253 million tonnes in the same month of the previous fiscal year. Data released by the Pakistan Cement Manufacturers Association revealed that local cement shipments in October 2023 were 3.292 million tonnes, down 15.38% from 3.890 million tonnes in October 2022. On the other hand, export shipments increased by 97.33%, increasing from 3502 tonnes in October 2022 to 715,028 tonnes in October 2023. Northern-based cement plants shipped 2.903 million tons of cement in October 2023, down 11.35 percent from

November 3, 2023

News Desk

Oil sales rose 25% in October

KARACHI: Demand for petroleum products rose 25% to 1.26 million tonnes in October 2023 compared to the previous month, fueled by lower prices and a gradual improvement in economic activities. The rise in demand for petroleum products is a sign of recovery in Pakistan’s gross domestic product (GDP), which reflects the central bank’s forecast of moderate economic growth of 2-3% in the current financial year. Last year, the economy grew a paltry 0.3%. Large-scale manufacturing (LSM) and the agriculture sector, which are the top consumers of petroleum products, remained on an upward trend as their production levels increased. This also

November 3, 2023

News Desk

Textile exports rise 5% in October after months of contraction

A Pakistani textile worker mends broken threads on a loom in Karachi on January 25, 2019, the financial capital and largest industrial city of Pakistan. — AFP Textile shipments rose to $1.43 billion in October: APTMA. Exports in the first 4 months of the current fiscal year decreased by 7%. The downward trend in exports continued into September. Islamabad: Textile exports registered 5% growth for the first time in 10 months, signaling a possible recovery for the industry hit by rising input costs and the global recession. The news reported on Friday. According to the data from the All Pakistan

October 28, 2023

News Desk

SBP will announce the rate on October 30

An undated image of a State Bank of Pakistan plague. — Reuters/File SBP hiked its key interest rate by 1,500 basis points from October 2021. The price is on hold from July 2023. Some analysts, however, expect a 25-100 bps cut in the policy rate. KARACHI: The State Bank of Pakistan (SBP) will announce its new monetary policy after a meeting of the Monetary Policy Committee (MPC) on October 30 (Monday). Speaking on X – formerly known as Twitter – the central bank said: “The Monetary Policy Committee of #SBP will meet on Monday 30 October 2023 to decide on

October 25, 2022

Vavek Bharwani

October is observed across the world as the month of breast cancer awareness (Opinion)

In a global effort to raise awareness of breast cancer, October has been designated as Pink Month. The Pink Month is a month where efforts to educate those concerned about the disease, including early identification and signs and symptoms associated with breast cancer. To commemorate 2015 Pink Month, the WHO Ethiopia Staff Association (WESA) organized a breast cancer awareness session for women staff where breast self-examination techniques were taught by Dr Fikir Melese, WESA Chairperson. The orientation included updates on the current situation of cancer in Ethiopia, and prevention of breast cancer.October is observed across the world as the month

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