Tech and Telecom

Pakistan Banks’ Association (PBA), in partnership with the International Finance Corporation (IFC), arranged a workshop on the benefits of green, resilient real estate investment, attended by participants from over 25 banks operating in Pakistan. A key area of focus was cooling for buildings, an area especially relevant to Pakistan given recent heat waves. IFC, a member of the World Bank Group, is a leader in investing and advising on green building practices globally. The workshop included sessions on the commercial value of green buildings for developers, the financial benefits for investors, and case studies highlighting the business case for green…

While a lot of people were left disappointed about Salman Ali Agha’s exclusion from Pakistan’s 15-man squad for the 2024 T20 World Cup in the West Indies and USA, many are curious as to what he has been up to following PCB’s announcement. As it turns out, Salman has been busy cruising the streets in his fancy car, more specifically an unregistered fancy car. The Pakistani cricketer was apprehended while driving an unregistered luxury car at Liberty Chowk on Tuesday. The incident occurred during a routine checkpoint operation conducted by the Excise Department. According to Excise Director Chaudhry Asif, the…

The Pakistani rupee (PKR) went down second day in a row against the US Dollar today after opening trade at 278 in the interbank market. It was bearish all day and closed in red against the greenback. It posted losses against most of the other major currencies during today’s session. The interbank rate stayed at 278/$ most of the day before closing at the same level. Open market rates across multiple currency counters were strictly at 278 today. The PKR depreciated by 0.03 percent and closed at 278.39 after losing nine paisas against the dollar today. On a fiscal year-to-date…

Unity Foods continues to showcase a strong commitment to ESG principles through a partnership with The Green Ark (TGA). A MoU was signed to this effect between both companies whereby TGA will collect and transform scrap materials from Unity Foods to create a diverse array of recycled products intended for reuse. The initiative aims to facilitate the circular economy by mitigating the impact of single-use plastics that contribute significantly to the deterioration of global ecosystems. Unity Foods regularly undertakes lasting projects that align with its objectives to reduce the impact of conventional industrialization on the environment. Under the current partnership…

Securities and Exchange Commission of Pakistan (SECP) has reduced the maximum amount of nano loans to Rs. 50,000 from Rs. 75,000 for digital lenders, with a tenor of up to 90 days. SECP also set a limit of Rs. 100,000 for borrowers for lending from multiple digital lenders at a time. “The aggregate amount of nano-lending extended to a borrower by NBFCs shall not exceed Rs. 100,000 at any point in time,” the recently issued circular said. The regulator also revised the market structure for digital lenders or Non-Bank Financial Companies stating that compounding of markup shall not be allowed…

The United Nations (UN) has issued a warning that there’s an 80% chance Earth’s temperatures will exceed the critical 1.5-degree Celsius mark over the next five years. The 2015 Paris Climate Accords set an ambitious target of limiting the world’s temperature increase to 1.5°C above pre-industrial levels. However, this target was meant to refer “to long-term temperature increases over decades, not over one to five years,” according to the UN’s World Meteorological Organisation (WMO). This alarming forecast came alongside another report by the EU’s Copernicus Climate Change Service, which announced that last month was the hottest May on record. This…

Over 10,000 liters of smuggled Iranian diesel has been seized in Uthal City, Balochistan. In a recent operation against diesel smuggling, Pakistan Coast Guards cracked down on illicit activities at the Naka Khari checkpost in Uthal, Balochistan. Authorities confiscated 10,370 liters of Iranian diesel during the operation. During a routine inspection, the smuggled diesel was found concealed within compartments of a passenger coach at the Naka Khari checkpost. Both the owner and driver of the coach are now facing legal action for trying to smuggle such a big load of fuel into the country. The post Over 10,000 Liters of…

The Pakistan Telecommunication Authority (PTA) has issued a Cyber Security Advisory addressing the active exploitation of a critical Exchange Server flaw, designated as CVE-2024-21410. The vulnerability, classified as a critical security threat, involves privilege escalation and an NTLM Relay Attack, specifically targeting Microsoft Exchange Server. According to PTA, Microsoft has confirmed that the flaw, which exploits NTLM clients like Outlook to leak credentials that can be used against the Exchange server, is being actively exploited. Successful attacks allow unauthorized access to the Exchange server, enabling attackers to perform operations on behalf of the victim. The advisory asks to install the…

Pakistan will lock horns with the co-hosts USA at the Grand Prairie Stadium in Dallas tonight as they kickstart their World Cup campaign against an in-form US side. USA had a splendid debut in the T20 World Cup as their win over Canada in the first game depicted the danger that the hosts posed. The temperament the hosts showed, turned what appeared a near-certain losing position into a comfortable victory. Monank Patel’s men defeated Bangladesh 2-1 recently in a three-match T20I series, in the build-up to the tournament. Meanwhile, Babar Azam’s Men in Green have struggled to get a proper…

Earlier this week, we reported that Nothing is likely going to launch Phone (3) next month, based on a recent teaser. The Phone (2) launched in July last year, and almost everyone expected to see Phone (3) in July once again, but that’s not happening. Nothing CEO Carl Pei has announced that Nothing Phone (3) is not launching until 2025, a significant delay from the company’s usual roadmap for high-end phones, but Pei has explained why. Rather than rushing to launch the phone next month and heavily promoting its AI features, as is common among many companies today, Nothing is…