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Diabetes mellitus has appeared to be one of the main public health challenges to high, middle, and low-income economies. In 2019 DM care market reached 69.7 billion and likely to increase by 4.5% by 2025. Assessing the situation in global setting, North America and Asia-Pacific region are the two-region accounted for major market share for the DM care products. Two main countries in Asia-Pacific region i.e. China and India are observed an increasing demand for diabetes drugs. The number of diabetic patients in China has passed 110 million and the nation with highest number of diabetic patients. Addressing the situation in Pakistani setting which is in the neighbors of China and being the partner of the one road one belt initi...

December 14, 2021 at 4:39 pm | Economic Affairs

The increasing threat of bioterrorism or mutated/evolved, highly contagious and transmissible germs (viruses, bacteria, fungi or protozoans) in the world, has caused many countries to start diverting research funds to tackle this new world scenario. By Nasir Jalal (Ph.D.) With the COVID-19 outbreak, an existential threat has been realized and thus awareness and preparedness for containing or tackling highly infectious agents (biohazardous agents) is now forming a cornerstone of national defense of many Countries. Preparedness to deal with such future threats, requires research investment into specialized technologies which should remove dependence on technologies stemming from developed Countries. The reason for this argument is t...

December 14, 2021 at 4:31 pm | Economic Affairs

The Board of Directors of MCB Bank Limited in its meeting under the Chairmanship of Mian Mohammad Mansha, on October 27, 2021, reviewed the performance of the Bank and approved the condensed interim financial statements for the nine months period ended September 30, 2021. The Board of Directors has declared 3rd interim cash dividend of Rs. 4.5 per share i.e. 45% bringing the total cash dividend for the year ending 2021 to 140%, continuing with its highest dividend payout trend. During the nine months period ended September 30, 2021, MCB Bank Limited reported Profit Before Tax (PBT) of Rs. 38.27 billion and Profit After Tax (PAT) of Rs. 22.56 billion. Earnings’ Per Share (EPS) stood at Rs. 19.03 against an EPS of Rs. 19.35 reported in ...

December 14, 2021 at 4:23 pm | Economic Affairs

The UN aggregates that approximately one billion people do not get enough to eat on a regular basis. About 16.6% of the world’s population is undernourished and almost 1 in 10 people in the world falls ill as a result of eating contaminated food and 500,000 die every year. By Ambassador Naghmana Hashmi In this age of technology and space exploration when some nations are spending billions and reaching for the Moon, the Mars and the vast unknown beyond in search of places habitable for humans, millions of humans are dying of food shortage on the only known habitable planet that we know of to date, our mother earth. The UN aggregates that approximately one billion people do not get enough to eat on a regular basis. The world produ...

December 14, 2021 at 4:20 pm | Economic Affairs

China has contributed to international affairs, and global issues, especially raising voices for weaker and naïve nations. China stood for oppressed and condemned the aggressors, and opposes hegemony of any country or nation. By Prof. Engr. Zamir Ahmed Awan People of Pakistan congratulate our Chinese brothers and sisters on the occasion of marking the 50 years of China joining the United Nations (UN). Recognizing the importance of China and the role of China in the UN, we praise and admire the contribution of China to the UN. China has contributed to international affairs, and global issues, especially raising voices for weaker and naïve nations. China stood for oppressed and condemned the aggressors, and opposes hegemony of any...

December 14, 2021 at 4:11 pm | Economic Affairs

There have been many knowledge streams such as Taoism that have added to the development of philosophical thoughts in China, but Confucian thinking with its emphasis upon public service and self-discipline continues to guide the official and individual behavior.   By Ahmad Farooq Lord Curzon once said “China is a university from where scholar doesn’t get a degree,” but is enlightened with knowledge and wisdom gathered over thousands of years. Homosapiens, since their very genesis who remained in a continuous struggle for splendour and sublimity, have contested with the intimidating forces of nature and starting from cave-dwellings and hand-made clay and wooden instruments, have carved out great civilizations and cultures. ...

December 14, 2021 at 4:01 pm | Economic Affairs

AgenciesRIYADH, Nov. 14—Gulf Arab leaders gather on Tuesday for an annual summit expected to stress cohesion after a deep rift, at a time of regional concern over Iran and rising economic rivalry within the oil-producing bloc.The Saudi crown prince toured Gulf states ahead of the summit, which comes nearly a year after Riyadh put an end to a 3-1/2-year Arab boycott of Qatar that had shattered the US-allied Gulf Cooperation Council.Saudi Arabia and non-Gulf Egypt have restored diplomatic ties with Doha but the United Arab Emirates and Bahrain have yet to do so, though Abu Dhabi has moved to mend fences."I have to admit there are areas that will need some time, but I mean practical, functional (Gulf) cooperation is back on track," senior U...

December 14, 2021 at 1:37 pm | Economic Affairs

AgenciesOil prices eked out small gains on Tuesday, recouping losses earlier in the day triggered by investor worries about demand after renewed restrictions were imposed in Europe and Asia amid a rise in coronavirus cases.Brent crude oil futures gained 25 cents, or 0.3%, to $74.64 a barrel by 0732 GMT, while U.S. West Texas Intermediate (WTI) crude futures increased by 19 cents, or 0.3%, to $71.48.“Energy traders don’t want to bet against OPEC+ but all the short-term risks from Omicron to Fed tightening is proving to be very disruptive to the short-term outlook for oil prices,” said Edward Moya, senior analyst at OANDA.“The virus spread across Europe is delivering a bigger hit than expected and when you calculate family gatherings...

December 14, 2021 at 1:35 pm | Economic Affairs

AgenciesThe dollar scaled a one-week high versus a basket of major rivals on Tuesday, supported by expectations of a hawkish Federal Reserve meeting this week and haven demand amid continued uncertainty about the Omicron coronavirus variant.Dollar index , which measures the currency against six peers, rose as high as 96.464 for the first time since Dec. 7 before trading 0.04% firmer at 96.404.The risk-sensitive Australian dollar dropped as much as 0.64% to a one-week low.The Fed’s two-day meeting that begins later Tuesday headlines a string of central banks announcing policy decisions this week, including the European Central Bank and Bank of England on Thursday and the Bank of Japan on Friday.The U.S. central bank is expected to announc...

December 14, 2021 at 1:32 pm | Economic Affairs

December 11, 2021Islamabad (Press Release)Foreign Secretary Sohail Mahmood received a four-member delegation of U.S. Senate at the Ministry of Foreign Affairs, today. The delegation included Senators Angus King, Richard Burr, John Cornyn and Benjamin Sasse.Welcoming the Senate delegation to Pakistan, the Foreign Secretary underscored that Pakistan valued its long-standing relationship with the United States and wanted to further deepen bilateral ties based on shared interests. He emphasized that deeper engagement between the two countries was pivotal for peace, security and development in the region. Highlighting Pakistan’s pivot to geo-economics, the Foreign Secretary emphasized that Pakistan welcomed enhanced bilateral trade and greate...

December 12, 2021 at 6:47 am | Economic Affairs

December 11,2021Rawalpindi ( ISPR)Members of US Senate Armed Services and intelligence Committees headed by Senator Angus King, called on General Qamar Javed Bajwa, Chief of Army Staff (COAS) today. Delegation also included Senator Richard Burr, Senator John Cornyn and Senator Ben Sasse. Ms Angela Aggeler, US Charge d’ Affaires to Pakistan accompanied the delegation.During the meeting, matters of mutual interest, current security situation in Afghanistan and bilateral cooperation in various fields were discussed. COAS said that Pakistan desires to maintain productive bilateral engagement with all the regional players and wished for peaceful, diversified, sustained relations. COAS also reiterated the urgency for global convergence on Afgh...

December 11, 2021 at 9:51 pm | Economic Affairs

EA ReportLAHORE, Dec 09– Pakistan Stock Exchange's (PSX) benchmark KSE-100 Index remained in the negative territory, amid a lack of positive triggers, as the index lost 328 points, while volumes declined from the previous session on Thursday.Benchmark KSE 100 index recorded an intraday high of 43,996.62 registering a high of 149.75 points during initial hours. However, it fell to day’s low of 43,273.76 losing 573.11 pts.At close on Thursday, the index settled lower by 328.03 points or 0.75% at 43,518.84.“The devaluation of rupee further dented investors’ confidence,” said Capital Stake in its post-market comment. PKR dropped to a new low of 177.61 against the USD at the close in the inter-bank on Thursday.Meanwhile, the central b...

December 9, 2021 at 7:17 pm | Economic Affairs

EA ReportLAHORE, Dec. 09– Pakistani rupee reached a fresh low against US dollar Thursday, depreciating yet another 0.10% in the inter-bank market.According to State Bank of Pakistan (SBP), PKR closed at 177.61 against the USD after a day-on-day depreciation of 18 paisas or 0.10%. On Wednesday, PKR closed at the then-record low of 177.43 against the USD.The fall comes as pressure mounts on the currency amid a widening trade deficit and falling foreign exchange reserves.The country’s trade deficit widened by 133.99% on a year-on-year basis and stood at $4.963 billion in November 2021 compared to $2.121 billion in November 2020. Imports witnessed 82.83% growth on a year-on-year basis in November 2021 and stood at $7.847 billion compared t...

December 9, 2021 at 6:25 pm | Economic Affairs

December 8,2021Islamabad(Press Release)The Embassy of the Islamic Republic of Pakistan in Vienna organized a webinar today in collaboration with Habib Bank Limited (HBL) and State Bank of Pakistan for promotion of Roshan Digital Account initiative launched by the government of Pakistan. It was attended by members of the Pakistani community and representatives of community organizations. In his remarks, Ambassador Aftab Ahmad Khokher, said that overseas Pakistanis were an invaluable asset for Pakistan and the Roshan Digital Account (RDA) was providing them a better opportunity to participate in Pakistan’s economy and strengthen their bond with Pakistan. He said that it was third webinar of the Embassy for promotion of RDA and he wo...

December 8, 2021 at 8:26 pm | Economic Affairs

December 8,2021Peshawar (Press Release) The Sarhad Chamber of Commerce and Industry (SCCI) has urged the government to abolish Saturday’s holiday in government offices to ease difficulties of the business community and facilitate them.The demand was made by the SCCI president Hasnain Khurshid Ahmad while chairing a joint meeting of traders and industrialists, here on Wednesday.The meeting was told that owing to the closure of government offices and commercial banks on Saturday, the business community has faced severe difficulties, besides it was also badly affected trade and economic activities.Therefore, the participants demanded to immediately abolish Saturday’s holiday and to facilitate the business community.Hasnain Khurshid on the...

December 8, 2021 at 8:19 pm | Economic Affairs

EA ReportLAHORE, Dec. 07— Pakistan's rupee was registered yet another historic low against US dollar, depreciating 0.18% in the inter-bank market on Tuesday.As per the State Bank of Pakistan (SBP), the PKR closed at 176.79 against the USD after a day-on-day depreciation of 31 paisas or 0.18%. Market showed little excitement a day ago, after getting $3 billion deposit from Saudi Arabia as PKR made marginal gains to appreciate 35 paisas against USD.analysts also expressed concern over the bulging imports bill, which hit $8 billion in the month of November. “The $8 billion import figure is unsustainable, and there is no other option than to curtail it,” Khan said, calling for proper lockdown on the import of unnecessary items.On Friday,...

December 8, 2021 at 12:11 am | Economic Affairs