The message that came through the United Nations’ climate change conference (COP27) in Egypt’s Sharm el-Sheikh is loud and clear: nations need to do more to slow down climate change or the consequences will be catastrophic. For Pakistan, the deadly effects of climate change are already here. This year’s monsoon floods have caused devastation on a scale never seen before. At COP27, Pakistan i
The International Labour Organisation (ILO) in a new report on Monday warned that the Asia-Pacific region still lacks 22 million jobs in 2022, and this number is projected to increase to 26 million in 2023 given the headwinds to growth in the current geopolitical global and regional context. In its report, “Asia-Pacific Employment and Social Outlook 2022: Rethinking sectoral strategies for a hu
‘Apartmentarianism’ is the philosophy of real estate investors that is bolstered by the fact that 73 per cent of the apartment owners in Pakistan are not apartment dwellers. Around 75pc of apartment residents live in rental flats because of their low buying power. However, in reality, apartment living is not yet in vogue. The real asset is a high return on investment for developers backed by their
Banking in Pakistan flourished during the first half of the calendar year 2022; both assets and income noted a strong increase while the balance sheet of banks expanded by 16 per cent over the same period of last year. The State Bank issued a “mid-year performance review” (MYPR) of the banking sector for 2022 on Monday. The review covers the performance and soundness of the banking sector fo
Universal Network Systems Ltd (UNSL) — a logistics firm operating under the brand name of BlueEX — said on Monday an unnamed fintech has offered to buy a 20 per cent stake in the company. The transaction size would be around Rs300 million if the deal took place at the prevailing share price of Rs55 apiece. The company is currently valued at a little over Rs1.5 billion. Speaking to Dawn, UNSL