Responsive Menu
Add more content here...

Capital Movement

Newspaper

14102659369577d

Turkey has accused the Kurdish PKK of carrying out the bombing in Istanbul.

On Monday, the Turkish interior minister accused the Kurdistan Workers’ Party (PKK) of being responsible for an explosion in a main retail street in Istanbul that resulted in the deaths of six people. He also said that a suspect had been detained in connection with the incident.

Turkey has accused the Kurdish PKK of carrying out the bombing in Istanbul.

On Sunday afternoon, an explosion occurred on Istiklal Street in Turkey, which is a famous shopping location for both residents and visitors. As a result of the explosion, scores of people were injured. By the early hours of Monday, a suspect had been taken into custody.

The individual who was responsible for planting the device has been apprehended, according to a statement made by Interior Minister Suleyman Soylu and carried by the official Anadolu news agency. “The PKK terrorist organization is responsible,” he added, citing the conclusions of his team’s investigation.

Since the 1980s, the PKK, which is considered a terrorist organization by both Ankara and its Western supporters, has maintained a bloody insurgency in southeast Turkey in an effort to establish Kurdish self-rule.

Regularly the target of Turkish military operations, the PKK is also at the center of a dispute between Sweden and Turkey. Since May, Turkey has been preventing Sweden’s entrance into NATO on the grounds that it shows too much lenience toward the PKK. Sweden has denied these allegations.

Istiklal was the target of what President Recep Tayyip Erdogan referred to as a “vile attack.”

At a press conference on Sunday, Erdogan said, “It might be wrong if we say for sure that this is terror, but according to first signs… there is a smell of terror there.”

Vice President Fuat Oktay of Turkey said, “We believe that it is a terrorist act carried out by an attacker, whom we consider to be a woman, exploding the bomb.” Oktay’s statement was made in response to a question.

Bekir Bozdag, the Minister of Justice, said that a lady had been seated on one of the seats for more than forty minutes before she eventually got up and left.

According to what he said on A Haber television, “one or two minutes later, an explosion occurred.”

He said, “There are two different possibilities.” “This bag either has a mechanism placed in it that causes it to explode, or someone remotely causes it to explode,”

“Every piece of information pertaining to this woman is being reviewed right now,” he said.

The statement made by Soylu did not provide any other information on the lady.

Cities in Turkey have been attacked in the past by militants and other organizations on several occasions.

Istiklal Street was attacked as part of a coordinated campaign of violence that took place in Istanbul and other cities in Turkey, including Ankara, between 2015 and 2016.

These bombs, which resulted in the deaths of about 500 people and injuries to over 2,000 others, were mostly attributed to the terrorist organization known as Islamic State as well as illegal Kurdish insurgents.

On Sunday, an explosion took place in a popular commercial district just after 4:00 pm (1300 GMT).

After the incident, there were reports of helicopters flying above the city center. Because the police were concerned about the possibility of a second explosion, they set up a substantial security perimeter to block off the area.

Images that were shared on social media showed that the explosion was soon followed by flames, which caused instant fear and sent people fleeing in all different directions.

It was reported that many corpses were found laying on the ground in the area.

see more…

https://www.capitalmovement.com.pk/

On Remembrance Day, Kate Middleton honours Diana subtly

image 38

Among other prominent members of the Royal Family, Kate Middleton made a stunning entrance at the Remembrance Sunday service in London.The 40-year-old Princess of Wales, who was on the balcony with the 75-year-old Queen Consort Camilla for the annual event, looked chic and collected.

With the addition of a stunning pair of diamond and pearl drop earrings to her ensemble for the special occasion, Kate subtly paid homage to her late mother-in-law, Princess Diana.The mother of three wore a stunning black coat dress with pleats from Catherine Walker and a black hat.

She kept the iconic earrings on display and wore her hair in a sleek, curled ponytail with natural makeup.In 1990, Diana wore the earrings to a banquet for the Japanese Emperor Akihito. In 1994, she wore them to a gala at the Palace of Versailles.

https://www.capitalmovement.com.pk/

Rajkummar Rao discusses his first salary and his spending habits

image 37

One of the performers that didn’t enter the business with generational money is Rajkummar Rao. To establish himself, he put forth a lot of effort. Recently, he talked about his first pay and how he spent it.

He discussed how he spent his first income on a home item in a recent interview. In a video posted by Netflix India, Rao said, “I still remember I used to do martial arts, taekwondo,” while speaking with comedian Zakir Khan. At the national level, I won a gold medal. But eventually, dancing also entered my life in some way. We used to perform on stage as a group and dance. I then began instructing dance.

https://www.capitalmovement.com.pk/

How long will the sun last?

image 37 3

Our sun, which is around 4.6 billion years old, controls the weather, seasons, climate, and ocean currents. It also enables photosynthesis in plants, which supports life on our planet.

Scientists have long been interested in the birth, death, and genesis of the enormous star that controls our planet. Scientists are growing increasingly curious about how and when the sun, like other stars, will erupt and die in light of the present debate on climate change and planetary disasters.According to a National Geographic research, the sun began to develop from a helium and hydrogen molecular cloud almost 4.5 billion years ago. According to scientists, a supernova near to the sun released a shockwave that was so powerful that it struck this cloud and charged it, resulting in the creation of the sun.

According to a report by ScienceAlert, the sun, which is located 150 million kilometres from Earth, could perish in five billion years. The specialists predict that the Sun will eventually become a red giant.

https://www.capitalmovement.com.pk/

Akshay Kumar believes that the current system needs to be “dismantled” in Bollywood

image 37 2

Akshay Kumar has promoted strong messages through his films, and he uses the same strategy when making claims about accepted ideas in the film industry. He recently discussed the necessity for the sector to rehabilitate itself.

He discussed all of the issues with Indian cinema over the years while addressing the Hindustan Times Leadership Summit. What’s occurring, in my opinion, is that things have shifted, he remarked. The audience desires something distinctive. This is how we should approach sitting down and attempting to provide for them. The failure to show up is our problem, not that of the audience. We must grant their requests. We need to reevaluate that.

https://www.capitalmovement.com.pk/

Netanyahu, who has been chosen to lead a new hard-right administration, promises Israeli unity

image 37 1

Benjamin Netanyahu, a former Israeli prime minister, was officially given the go-ahead to form a new government on Sunday. Following an election in which Jewish far-right candidates saw a significant increase, this raised concerns both domestically and internationally.

President Isaac Herzog charged Netanyahu with forming the following coalition, noting that Israel’s longest-serving leader has gathered enough support from like-minded parties to win 64 of the 120 seats in parliament.

After an 18-month break in which he was replaced by a rare but fragile alliance of centrist, liberal, nationalist, and Arab politicians, this puts the conservative Netanyahu on the path to one of the most stable governments in years.

https://www.capitalmovement.com.pk/

Tesla claims to support the police investigation into a fatal crash in China

image 36

BEIJING (Reuters) – After local media reported that two people were killed and three were injured when the driver lost control of the vehicle, U.S. automaker Tesla (TSLA.O) said on Sunday that it will help Chinese police investigate an incident involving one of its Model Y cars.

According to Jimu News, who posted a video of the high-speed car collision into other cars and a bicycle on November 5 in the southern province of Guangdong, two people were killed: a motorcycle and a high school student.

Elon Musk’s electric vehicle manufacturer warned against believing “rumours” in a message to Reuters on Sunday. “Police are currently seeking a third party appraisal agency to identify the truth behind this accident, and we will actively provide any necessary assistance,” the message from Elon Musk’s electric vehicle maker read.

https://www.capitalmovement.com.pk/

According to Malpass of the World Bank, global debt levels increased “substantially” in 2021

image 36 2

White House (Reuters) – According to World Bank President David Malpass, debt levels among low- and middle-income nations climbed sharply in 2021, with China accounting for 66% of financing by official bilateral creditors, underlining the necessity of lowering the debt of poorer countries.

Malpass told Reuters in an interview on Friday that it was apparent that private sector creditors had to take part in debt reductions. The World Bank’s annual report on global debt figures is scheduled to be released next month.

In order to help nations cope with the COVID-19 pandemic’s effects, the Group of 20 major economies and the Paris Club of official creditors developed a uniform framework for debt solutions in late 2020. However, its implementation has been sluggish.

https://www.capitalmovement.com.pk/

At least $1 billion in missing client funds at FTX

image 36 1

IN NEW YORK: According to two persons with knowledge of the situation, the defunct crypto exchange FTX has lost at least $1 billion in customer assets.FTX customer funds worth $10 billion were secretly transferred by Sam Bankman-Fried, the exchange’s founder, to Bankman-trading Fried’s firm Alameda Research, the people told Reuters.

They said that a sizable chunk of that sum has subsequently vanished. According to one source, the missing funds total around $1.7 billion. The other stated that there was a $1 billion to $2 billion gap.Although it is well known that FTX transferred customer monies to Alameda, this is the first time the lost amounts have been mentioned.

According to the two sources, Bankman-Fried shared information with other senior officials last Sunday that showed the financial gap. They claimed that the records gave a current account of the circumstances at the time. Prior to this week, both of the sources held senior positions with FTX and claimed to have received financial updates from senior staff.

PM Shehbaz praises England and is pleased with the Green Shirts' efforts

PM Shehbaz praises England and is pleased with the Green Shirts’ efforts

image 36

LAHORE: Shehbaz Sharif, the prime minister of Pakistan, praised England for winning the ICC World Cup on Sunday as the Green Shirts faced defeat against England in the final at the MCG.

Shehbaz Sharif, the prime minister, tweeted, “Team Pakistan battled back hard and valiantly. Outstanding bowling performance. But today, England played better. We are pleased with our green-clad athletes for reaching the championship game of this major competition.

Better air purification than 30 air purifiers thanks to genetically modified plant

Better air purification than 30 air purifiers thanks to genetically modified plant

image 35

An innovative company in Paris has created a genetically modified plant with improved natural purifying abilities that can clear the environment more effectively than 30 air purifiers.

In addition to adding colour, plants can purify the air and improve the quality of the environment.To boost the plant’s inherent cleaning abilities, Neoplants, the firm that created the modified plants, chose a pothos plant and its root microbiome.

The engineered plant, known as Neo P1, is currently on the market for purchase.Studies have demonstrated that having indoor plants and breathing clean air can both improve mood and lessen anxiety.

Binance suspends FTT deposits, according to CEO

Binance suspends FTT deposits, according to CEO

image 34

Changpeng Zhao, the chief executive of cryptocurrency exchange Binance, announced on Sunday that the company no longer accepts deposits of FTX’s FTT token on its platform and urged other competing exchanges to follow suit.

The crypto exchange FTX, which declared bankruptcy on Friday, stated it had discovered unauthorised access on Saturday. Analysts also claimed that hundreds of millions of dollars’ worth of assets had been removed from the network under “strange circumstances.”

“To avoid the possibility of the market being affected by doubtful additional supplies, (Binance) has ceased FTT deposits. We’ll keep an eye on everything “According to CEO Zhao’s tweet.

Men in Green praised for persevering to the last end in T20 World Cup final: "Proud of our boys"

Men in Green praised for persevering to the last end in T20 World Cup final: “Proud of our boys”

image 34

MELBOURNE: In the T20 World Cup final match against England on Sunday at the Melbourne Cricket Ground in Australia, Pakistan’s bowlers did not let down, keeping English batters on edge with their bowling attack.

The team’s bowling lineup performed on par with Shaheen Afridi, Naseem Shah, Haris Rauf, Shadab Khan, and Mohammad Wasim despite reaching 137 for eight wickets and giving England a difficult chase.

Alex Hales was destroyed by Shaheen in his first over, while Rauf stole two crucial England wickets after Jos Buttler and Phil Salt were removed as captain.

A security officer in Karachi fatally shot a little beggar

A security officer in Karachi fatally shot a little beggar

image 33

KARACHI: On Sunday, a security officer outside a hotel in Karachi’s Boat Basin neighbourhood shot and killed a young beggar.

Details indicate that the shooting event happened at the well-known Food Street Boat Basin, where a large number of beggars, including children, congregate.

A security guard shot a child who was begging and killed him. After that, the guard ran away from the area.On the other hand, there was also a shooting incident at Murtaza Chowrangi in Karachi’s Korangi neighbourhood, and two persons were murdered.

England exacts revenge for their 1992 loss under Butler's leadership

England exacts revenge for their 1992 loss under Butler’s leadership

image 33

MELBOURNE: On Sunday at the MCG, England, led by Jos Buttler, avenged their loss to Pakistan in 1992 by defeating Pakistan by five wickets to win the ICC World T20 championship.

Earlier, Pakistan put together 137/8 at the storied Melbourne Cricket Ground after being called into bat by England captain Jos Buttler. Seamer Sam Curran (3/12) and spinner Adil Rashid (2/22) were nearly unplayable.

In Melbourne’s cloudy weather, Buttler had no qualms about choosing to have Pakistan bat first. The choice quickly paid off as Curran secured the crucial wicket of Mohammad Rizwan for 14.

sialkot airport closed for international flights 1668336345 7510

SIALKOT INTERNATIONAL AIRPORT IS CLOSED till 20 Dec.

SIALKOT AIRPORT IS CLOSED TO ALL OVERSEAS FLIGHTS AT THIS TIME.

sialkot airport

A notice states that the Sialkot Airport will be closed from December 5th through the 20th due to runway maintenance.

All airport flights, both local and international, will be postponed between December 5 and 20, due to maintenance.

On the other hand, the airports in Lahore and Islamabad are possibilities for usage as backup airports.

View more…

The NASA Moon rocket is prepared for a second launch attempt

Nasa’s lunar rocket launch next week hopes to bridge a 50-year gap.

Nasa plans to launch a rocket to the moon next week in an effort to finally land humans there after a gap of 50 years.

NASA to launch rocket to moon

This month marks the 50th anniversary of mission management at the US space agency Nasa giving the final approval for what would become humanity’s most recent voyage to the moon. Few anticipated at the time that it would be more than half a century before Nasa was ready to return, even Apollo 17 commander Eugene Cernan, who believed as he went back into the lunar module in December 1972 that men would return “not too long into the future.”

Artemis 1, the most powerful rocket ship in history, will attempt to close that decades-long gap four minutes after midnight Wednesday, despite late technical difficulties and Florida’s weather gods.

The Orion capsule will not carry humans on its 25-day, 1.3 million-mile journey to and from the moon, but its success will open the way for a crewed landing effort within four years. Artemis 3, scheduled for 2025 but likely pushed back a year, will add a woman’s name to the only 12 moonwalkers in history, all men from the Apollo missions between 1969 and 1972.

“We’re going back to the moon after 50 years to stay, to learn to work, to create, to develop new technologies and new systems and new spacecraft in order to go to Mars,” Nasa administrator Bill Nelson said in an interview with Newsweek earlier this year, explaining the purpose of the Artemis program.

“This is a historic turning point.”

After a series of delays during the summer and early fall, the space agency is hoping that things will finally come together for Wednesday’s launch. Attempts in August and September were abandoned because engineers identified an engine cooling issue and were unable to repair an unrelated fuel leak.

The threat of Hurricane Ian caused the space agency to roll the massive $4.1 billion Space Launch System (SLS) rocket back to the safety of the hangar, putting an end to hopes of an early October launch.

In the midst of Hurricane Nicole’s 100mph wind gusts, some questioned Nasa’s decision to leave Artemis exposed on its Cape Canaveral, Florida, launchpad.

This storm caused a two-day delay until Wednesday, as well as a thorough post-hurricane inspection by engineers at the Kennedy Space Center before it was declared fit to fly.

“If we didn’t design it to be out there in harsh weather, we picked the wrong launch site,” Jim Free, Nasa’s associate administrator for exploration systems development, said at a press conference on Friday.

Delays, according to Nelson, a former space shuttle astronaut, are “part of the space business.”

“We’ll go as soon as it’s ready.” We don’t take off until that time, especially not on a test flight. “We’ll make sure it’s right before we put four humans up there,” he said following the September scrub.

These humans will be aboard Artemis 2, a 10-day interim mission scheduled for May 2024 that will take astronauts beyond the moon without landing to test new life-support systems and equipment designed for long-duration spaceflights.

Artemis 1’s “crew” includes sensor-rigged mannequins Helga, Zohar, and Moonkin Campos, who will measure radiation levels, as well as a soft toy Snoopy and Shaun the Sheep as gravity detectors.

“We’ll never get to Artemis 2 if Artemis 1 fails,” Free explained.

Nasa’s reasons for wanting to return to the lunar surface have evolved as technology has. The agency is looking beyond the Apollo era’s brief exploration visits to establish a long-term human presence, including the construction of a lunar base camp, as the foundation for crewed missions to Mars by the mid-2030s.

Nasa’s stated goals for the “Artemis generation” include scientific discovery, economic benefits, building a global alliance, and inspiring a new generation of explorers.

The Artemis program is part of Nasa’s Moon to Mars vision, which includes bringing in international and commercial partners to deep space exploration, including Elon Musk’s SpaceX and heavy lift Starship rocket, which could be ready for its first orbital test flight as soon as next month.

The goal to maintain the US ahead of Russia, and especially China, in the next phase of human spaceflight, is unspoken.

Analysts, including Nasa’s own inspector general, believe the $93 billion price tag for the Artemis program, which includes $4.1 billion for each of the first launches, is unsustainable. They point out that it is already billions of dollars over budget and years late.

However, other analysts believe that the moon to Mars initiative will be fully funded even if Republicans grab the House and the nation’s purse strings from Democrats after the final November election results are in.

“The support coalition is bipartisan and much more tied to constituent interest.” “There is political support,” said John Logsdon, founder of George Washington University’s Space Policy Institute.

“[But] so many things must happen before the first Mars landing mission is feasible that all you can say is, yes, we will send humans to Mars if everything goes as planned.”

View more…

452001 5826531 updates

A royal insider has stated that Prince Harry and Meghan “would not be welcome in the UK either.”

According to a royal analyst, Prince Harry and Meghan “would not be welcome in the UK either.”

royal analyst review

Regarding Prince Harry and his bride Meghna Markle, royal expert Angela Levin said, “I don’t think they would be welcome in this country either.”

Harry: A Biography of a Prince author Levin claims that after Meghna Markle and Prince Harry decided to stand down from being Senior Royals, they have begun to appear “desperate” for power or influence.

After the passing of Queen Elizabeth II, Prince Harry’s grandmother and the family’s longest-reigning monarch, in September, the divisions within the family were apparent.

Prince Harry, whose autobiography Spare was published in January and has been offered at steep prices. Even during the pre-order phase, the book has maintained the top spot on Amazon.

View more…

download 2 5

Peshawar has seen a fatality due to dengue fever.

Peshawar loses a life to dengue

Peshawar under attack of dengue

Another dengue death was reported in Peshawar, Pakistan’s Khyber Pakhtunkhwa province, on Saturday, bringing the total number of fatalities from the disease to 18.

The dengue patient who passed away was a Peshawar resident, according to a Health Ministry official. He revealed that the total number of dengue cases in Khyber Pakhtunkhwa has reached 20,940 after 136 new cases were registered.

He stated that the number of dengue patients in the provincial capital of Pew rose to 8,833 due to the addition of 84 new cases.

New dengue cases have been reported in the numbers of 16 in Mardan, 19 in Bannu, and 16 in Swabi, according to the official.

According to him, in the past day, six people with dengue have been admitted to hospitals in Khyber Pakhtunkhwa, and 45 people are receiving treatment for dengue at the moment.

View more…

download 1 13

Pakistan vs England T20 Worldcup Final

Pakistan gave 138 runs target to England in 20 overs with the loss of 8 wickets.

Pakistan vs England final

MCG: Pakistan gave England 138 runs target to win the final of the T20 WorldCup 2022

Muhammad Rizwan made 15 runs on 14 balls and captain Babar Azam made 32 on 28 balls

with a loss of 8 wickets, one by another Pak was only able to make 137 runs in 20 overs

Both teams are aiming to win a second T20 World Cup

England quick Sam Curran is now the leading wicket-taker in the tournament with 16 wickets, including three in the final

View more…

2020 07 20T163302Z 1575577153 RC24XH9OGHJY RTRMADP 3 CRICKET WORLDCUP AUSTRALIA 1

The 2024 World Cup for Men’s Under-19 Cricket will be held in Sri Lanka.

World Cup of U19 Men’s Cricket to be held in Sri Lanka in 2024

world cup 2024 under 19

The ICC Board has announced the locations for the U19 Men’s Cricket WorldCup from 2024 to 2027, and Sri Lanka will play host to the tournament in 2024.

After receiving approval from the ICC Board, the years 2024–2027 will see a total of eight different countries holding ICC U19 tournaments. These countries include Zimbabwe and Namibia, Malaysia and Thailand, and Bangladesh and Nepal.

Sri Lanka will play host to the ICC Under-19 Men’s Cricket WC in 2024, and Zimbabwe and Namibia will do the same for the 2026 tournament.

Malaysia and Thailand will host the ICC U19 Women’s T20 WC in 2025, and Bangladesh and Nepal will do the same in 2027.

Methods of Making It to the Cricket World Cup
Ten teams have been confirmed to qualify automatically for the ICC Men’s Cricket World Cup 2027, which will feature a total of 14 teams.

Hosts South Africa and Zimbabwe, both Full Members, will be joined by the following eight nations in the ICC MRF Tyres ODI Rankings on a date to be determined. The ICC CWC Global Qualifier series will determine the final four teams that will advance to the tournament proper.

In addition, the ICC Women’s T20 World Cup 2024 qualification process was given the green light.

The top three teams from each of the four groups at the ICC Women’s T20 World Cup 2023, the host country of Bangladesh (if not in the top three of Group 1), and the next seven highest-ranked teams on the MRF Tyres ICC T20I Rankings as of February 27, 2023, will qualify automatically for the tournament. This 10-team ICC Women’s T20 World Cup Global Qualifier will determine the final two teams.

Martin Snedden presided over a Board group that oversaw the bidding process to determine which countries will host each event.

The ICC Board agreed with the suggestions made by the committee after it and ICC management had carefully examined each proposal.

View more…

shehbazsharifpresserPID1664298063 0

PM Shehbaz is to return to the capital from London on 13 November.

PM Shahbaz return to Pakistan from his trip to London

pm fly back to pak

PM Shehbaz Sharif will fly back to Islamabad from London on Sunday.

Specifically, it is important to note that the Prime Minister flew to London a few days ago and was meant to return to Pakistan on Friday, but instead stayed an extra day.

Prime Minister Shehbaz developed a little fever before heading for the airport, so his family urged him to stay in bed.

At 6 o’clock tonight, the Prime Minister’s jet will take off from London for Pakistan (Sunday).

View more…

shehbazMBSSPA1666534275 0

The Saudi crown prince’s scheduled trip to Pakistan has been delayed.

Pakistan’s visit by the Saudi crown prince has been postponed

pakistan's visit of Saudi crown prince postponed

ISLAMABAD: Saudi Crown Prince Mohammed bin Salman’s highly anticipated trip to Pakistan has been postponed, the Foreign Office announced on Saturday. No explanation was given.

“A new date has been set for the visit. The two parties will jointly decide on new dates “Mumtaz Zahra, a spokeswoman for the Foreign Office, informed The Express Tribune. She refused to give any more information.

The Saudi de facto ruler was scheduled to visit Islamabad on November 21; it was his first trip there in more than four years, and Pakistan hoped it would result in the announcement of another financial rescue plan.

In addition, Salman postponed his trip to neighboring India and other Asian nations. He would now only go to Indonesia for the G20 summit.

Though no official explanation for the delay was provided, sources indicated that a number of factors, including the current political unpredictability and the appointment of a new army chief, may have played a significant role.

According to one person who was consulted by the Saudi authorities regarding the visit, Riyadh was unsure whether to proceed with the visit in light of the current political climate in the nation. The individual further stated that Pakistan’s lack of preparation was also to blame.

Other sources could not exclude the possibility that the selection of the army chief was the primary cause of the delay. They believed that the army in Pakistan served as Saudi Arabia’s primary conduit. Therefore, it was inexplicable why the Saudi crown prince would travel just days before the new army chief was announced.

According to one insider, it’s probable that the Saudis had the notion that the current army leader might stay on when the visit was being organized. Gen. Qamar Javed Bajwa will retire on November 29, according to the military’s media wing, thus the Saudi government would have been forced to postpone the visit until the new army head assumes over.

As Pakistan anticipated yet another financial bailout from the kingdom, it saw the visit of the Saudi de facto ruler as crucial.

In order to deal with the declining foreign reserves, Pakistan was hoping to obtain a $13 billion financial bailout package from Saudi Arabia and China jointly.

According to finance minister Ishaq Dar, China promised to roll over a $7.3 billion loan and provide an additional $1.5 billion during the prime minister’s recent trip to Beijing.

View more…

QEWIDUWG5BJYLFVQE222USK2L41666163565 0

IMF to postpone the visit because of budget impact from recent floods causes.

IMF visit is postponed because of the cost of the flood

IMF visit postponed due to flood budget

ISLAMABAD: Pakistan and the IMF have developed disagreements on the financial impact of the flood damages, which has significantly delayed the dispatch of an IMF mission to Islamabad for the next review of its loan program.

According to a finance ministry assessment, the main budget deficit in the current fiscal year could reach over Rs2.2 trillion without extra steps, sources told The Express Tribune. Both parties have been working to close the gap in light of this information.

A senior government official stated, “Although the figure is still speculative, our assessment has indicated that the primary budget deficit — the revenues after paying the interest cost — could be as high as 2.8% of the GDP or Rs2.2 trillion.”

The estimated amount is significantly higher than the primary budget surplus target of 0.2% of GDP that was set with the IMF in the pre-flood scenario.

The dilemma, according to the sources, is that the slippages are primarily due to non-flood factors.

They further stated that the floods’ impact on the budget was less than 0.2% of the GDP.

According to the sources, there was continued disagreement over how much of the $16 billion estimated reconstruction cost should be accounted for in the current fiscal year during a recent meeting with IMF Resident Representative Esther Perez.

According to Pakistan, the cost of reconstruction had no appreciable effect on the remaining time of the program, which expires in June. The IMF, however, rejected it.

Next week, Pakistan will provide the IMF with updated data that will help the international lender decide whether to schedule a mission to Islamabad this month or postpone it until December.

There are still $3 billion in unpaid IMF loan funds that can only be released until three reviews have been completed.

Aside from disagreements over the fiscal framework, Pakistan has struggled to comply with other IMF requirements, such as raising electricity tariffs.

According to the updated timeline agreed upon in June, the IMF was supposed to send a mission to Pakistan in October for the 9th review, paving the way for the delivery of a further tranche of around $1.2 billion on November 3.

But under the guise of things that can be resolved, the global lender is taking longer than expected.

“Pakistan has been requested by the IMF to assess how the floods have affected the economy and budget. The dates of the IMF mission’s arrival won’t be known until the ramifications are understood, according to Dr. Aisha Ghaus Pasha, the state minister of finance.

The dates of the visit were unclear, she continued because the investigation of the flood’s effects was still lacking.

The IMF remains engaged with the authorities under the current program to support their efforts to provide relief to the vulnerable population affected by the floods and advance reconstruction efforts while ensuring sustainable policies, the resident representative of the global lender said in a succinct statement last week.

However, when asked if a date was set in stone or not, she remained silent.

According to the sources, the primary budget deficit, which is now estimated to be around 2.8% of the GDP, has been causing slippages, which are the main problem.

They mentioned that the expected cost of budgeted debt payments was less than Rs4 trillion.

However, they said, the updated calculations suggested that the debt burden could increase to above Rs4.7 trillion.

The sources further indicated that the petroleum levy collections may fall short of the planned objective of Rs. 855 billion by at least Rs. 300 billion.

According to them, the combined effect of high debt servicing costs and low petroleum levy collection was roughly 1.3% of GDP.

Even though the International Monetary Fund (IMF) has already demanded that additional taxes be imposed in the amount of Rs600 billion, the Federal Bureau of Revenue’s (FBR) collection could fall short of the annual target of Rs7.470 trillion.

Additionally, the government has offered an agricultural package and a subsidy of Rs100 billion, but only to exporters. The results of these initiatives are uncertain.

The situation at the finance ministry has become more complicated as a result.

The farmers desperately needed flood relief due to the devastation that the floods caused to their crops, and the ministry has been trying to include some of the cost of the agricultural package there.

Subsidizing exporters, who have been draining national resources for years without contributing much in return, is problematic.

According to the finance ministry’s estimate, exporters benefited to the tune of Rs536 billion from various forms of subsidies and cheap loans in the previous fiscal year.

For the current fiscal year, the central bank predicts a current account deficit of less than $10 billion—substantially less than the figure calculated by the World Bank.

According to the sources, the external financing requirements are another problem that the finance minister, Ishaq Dar, has been attempting to solve by making requests to the United Arab Emirates, Saudi Arabia, and China.

In February 2019, the United Arab Emirates must repay a debt of $2 billion. This week, the finance minister reportedly asked the UAE to extend the deal for another year.

View more…

download 17

Russia continues to dominate the world’s nuclear energy sector.

Russia continues to dominate the international nuclear energy scene.

Russia to continue its nuclear energy sector

After a decade of declining investment, rich economies are rethinking nuclear power in the face of a global energy crisis and a race to decrease emissions.

Especially compelling is the need for European countries to wean themselves off Russian fossil fuels in order to deprive the Kremlin of resources for its invasion of Ukraine.

Nevertheless, due to Russia’s extensive involvement in the nuclear industry, even a switch to nuclear power may not erase a country’s need on the country for its energy needs.

According to the International Atomic Energy Agency, there were 437 active reactors across the globe in 2021. This number does not include reactors that have been temporarily shut down. Some 42 reactors (or 10%) around the world use VVER technology developed by the Soviet Union. Other countries’ designs include the USA, Canada, Germany, and France. With 15 operational reactors, Ukraine has the largest VVER fleet outside of Russia, followed by the Czech Republic with 6 reactors utilizing the technology.

VVER is also used in 21 of the 52 reactors being constructed elsewhere in the world besides Russia. The top three are China (4), India (2), and Turkey (1), with other nations including Bangladesh (2), Egypt (2), and Iran (1) also adopting Russian technology.

According to World Nuclear Association analyst Jonathan Cobb, “the Russian reactor program itself was very active” over the past decade, when many of these projects’ contracts were signed, explaining why there are so many reactors planned in Russia being built at the moment.

Like taking a trip back in time to the ’70s and ’80s. Because Westinghouse was such a prominent builder in the United States, its technology eventually found its way into homes across the globe, he continued.

Tim Stone, chairman of the UK’s Nuclear Industry Association, stated that Russia was “very aggressively” marketing its technology. “What the Russian government has done is provide much more of a soup-to-nuts service for those nuclear programs [in other countries].”

In 2021, Russia was also the world’s seventh-largest uranium producer. Most nuclear power plants use enriched fuel, and Rosatom, which is owned by the Russian government, supplies around 40 percent of the world’s uranium enrichment capacity.

View more…

67734 ecpcovjpg 1528276512

Elections for LG are scheduled to be held by the ECP.

Chief Election Commissioner Justice (R) Abdul Rashid Sulehria stated on Saturday that the Election Commission is all set to hold free and fair local government elections in Azad Jammu and Kashmir on November 27 with strict security measures. He stated that the Election commission is all set to hold these elections.

Elections for LG are scheduled to be held by the ECP.

In an interview with PTV, he said that all preparations for the elections have been finished to guarantee impartial local body polls that are aimed at moving the authority to the people at the grassroots level. He further stated that the advancement of AJK is closely associated with the elections for the local government.

Sulehria also said that he hoped the local elections would change the social, political, and economic structure of AJK for the better. He also said that all political parties should work together to make long-term policies that are in the public interest.

According to him, the Election Commission of Azad Jammu and Kashmir (AJK) has released the timetable for the next local bodies elections, which will take place after a gap of 31 years. Furthermore, the total number of voters who are registered is 29,50,000. In response to a query, he said that there are over 11,000 candidates running for local government positions in AJK, including a number of women.

In response to a second question regarding demands for teachers to take on election-related responsibilities, he made it abundantly clear that we respect teachers and that they have not made any such demands as of yet. He also stated that there has been no change made to the process of electing local government officials, and the elections will continue to follow the same format.

see more…

shehbazsharifpresserPID1664298063 0

Today, Shehbaz Sharif will go back to his residence.

It has been reported that Prime Minister Shehbaz Sharif has been unwell and will not leave London till tomorrow. We may expect him back at home later today.

Shehbaz Sharif will go back to his residence today.

According to several sources, prime minister Shehbaz Sharif decided to extend his stay in London by one day. Just before they left the airport, he was running a light fever, and his family had urged him not to travel because of it.

The jet belonging to Shahbaz Sharif is scheduled to leave London at six o’clock this evening and go to Pakistan.

In a tweet, Shahbaz Sharif stated that his brother Nawaz Sharif “has been a pillar of strength in my life.” Nawaz Sharif “is not just my leader or elder brother,” Shahbaz Sharif wrote.

In reaction to a picture that showed Nawaz Sharif bidding goodbye to him and going to Pakistan, he replied by stating, “Nawaz Sharif’s approach to love is a source of confidence and direction for me.”

The Prime Minister inquired about Interior Minister Rana Sanaullah’s well-being and sent his best wishes to him over the phone.

see more…

1a20f2f0 722b 4561 8f88 2821dcba771e

Due to the decline in economic activity, industrial gases will see a decline in their profit margins.

KARACHI: It’s possible that a slowdown in economic activity will have an influence on the consumption of industrial gases and lower demand for them in large-scale production (LSM).

industrial gases profit margins were hurt due to a decrease in economic activity

Due to industrial gas consumption in numerous businesses, Pakistan Credit Rating Agency (PACRA) found that the sector’s margins were constant in the first half of the year. However, “the slowdown in the economy and reduced demand in the LSM” may affect profits. . Floods harmed 33 million individuals and disrupted economic operations, lowering FY23 growth to 2%. In FY22, the LSM sector gained 10.5%, increasing industrial gas consumption and income. Floods have altered everything, and LSM has shrunk by 0.4 percent YoY in the first two months of FY23. This may affect the LSM industry’s industrial gas consumption.

According to the findings of the research, the production capacity of the key companies was being increased by building up new plants. As a consequence, the sector’s borrowing has increased by 47 percent in the first half of CY22. This would result in an additional rise in the sector’s cost of borrowing money. The industry is only modestly leveraged, with a debt-to-equity ratio of around 50 percent, which is sustainable because of the robust sponsor backing the industry receives.

At the moment, every single part of the economy is suffering from a downturn, and the production of industrial gases would be no exception to this rule. According to the findings of the study, however, it is anticipated that the industry would have a resurgence in the medium term owing to its need in a number of key industries such as steel, cement, food, and research.

Since the LSM output has increased by 3.9 percent MoM from July to August FY23, this indicates that the economy has started moving towards recovery after the floods; however, the recovery is occurring at a very slow rate, and it will take some time for the level of business activity to return to what it was before the floods.

Even in the event that the economy experiences a downturn, the need for oxygen in the medical industry will not change. If the current economic crisis can be brought under control, it is anticipated that the industry as a whole will enjoy increased profitability over the course of time. Because of the expansion of the industries that make use of industrial gases, it is anticipated that the demand for industrial gases would stay relatively unchanged.

As a result of the fast expansion of industries such as research and technology, there is an increased need for gases such as argon and other rare gases (neon, krypton, and xenon). In order to maintain the quality of food that has been packed, it is common practice to employ inert gases, such as nitrogen and carbon dioxide, to remove oxygen and moisture. According to the findings of the research, there will be an increase in the need for nitrogen and carbon dioxide as people consume more food that is pre-packaged and canned.

see more…

https://www.capitalmovement.com.pk/

Devoted Elon Musk supporters construct an odd statue with a goat riding a rocket

image 32 6

In reference to the well-known term G.O.A.T, which stands for Greatest of All Time, billionaire Elon Musk’s supporters have constructed a massive aluminium monument with the body of a goat.The peculiar sculpture is 30 feet long and has a large Musk head on top of a goat body that is perched atop an aluminium rocket. The statue is worth $60,000 and has a 24k gold-plated thunder symbol on the goat’s neck.

The enormous piece of art was created by Canadian metal artists Kevin and Michelle Stone and was commissioned by the cryptocurrency company Elon GOAT Token ($EGT).On their official Twitter account, Elon Goat Token, they publish updates. The social media bio stated, “Elon GOAT Token ($EGT) created a Massive Monument for Elon because he’s Badass and we’re coming to Austin to give it to him on November 26.

https://www.capitalmovement.com.pk/

‘Greatly exaggerated’: No, robots aren’t replacing human workers with machines

image 32 5

The idea that hiring managers will save money by using computers to do jobs rather than employing several people to perform the same job is debunked by researchers from Brigham Young University.These rumours, according to scientists, are “greatly overstated,” and automation has not supplanted people.

Professor of sociology at BYU, Eric Dahlin, asserted that although robots are taking certain occupations away from people, the rate of job loss is far slower than many people believe. According to researchers, individuals frequently overestimate the speed and intensity of a robot takeover.