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[1/3] Stock brokers monitor new on television screen at a booth, during a trading session at the Pakistan Stock Exchange, in Karachi, Pakistan July 3, 2023. REUTERS/Akhtar SoomroKARACHI, July 3 (Reuters) - Pakistan's benchmark share index scored its biggest single-day jump in 15 years on Monday, gaining 5.9% on the first trading session after the country secured a last-gasp funding deal from the International Monetary Fund (IMF). The KSE 100 index (.KSE) closed up 2,442.06 points at 43,894.7, marking its biggest percentage gain since June 24, 2008, when it rose 8.6%, as per Refinitiv data. "Today's gain in the benchmark KSE 100 Index will likely to be highest in the history of Pakistan Stock exchange," it said. Several automakers including Pakistan Suzuki Motor Co (PKSU.PSX) had announced prolonged plant closures in 2023, citing import restrictions.

Persons: Akhtar Soomro, Shehbaz Sharif, Muhammad Iqbal Jawaid, Arif Habib, HCAR, Asif Shahzad, Swati Bhat, Lincoln, David Holmes Organizations: Pakistan Stock Exchange, REUTERS, International Monetary Fund, IMF, Topline Securities, Pakistan Stock, Pakistan, U.S ., Pakistan Suzuki Motor, Honda, Pakistan Suzuki, Indus, Toyota, Auto, Arif, Arif Habib Ltd, Thomson Locations: Karachi, Pakistan, Akhtar Soomro KARACHI

☆ Despite the pandemic and inflation, medical tourism is booming
▼ + stars: | 2023-07-03 | by ( Emaad Akhtar | ) www.cnbc.com time to read: +2 min

Chris Pochiba is a social media influencer who traveled to South Korea for laser eye surgery in 2022. His wife, Sara Aho, explained why they chose South Korea, instead of other destinations. The Covid-19 pandemic, however, halted international travel — and, by extension, patient inflows — disrupting what was at the time a booming industry worth more than $70 billion. "We came back with less people, made more revenue than 2019, last year of 2022," Paul McTaggart, CEO and founder of medical travel agency Medical Departures, told CNBC. Paul added: "As you're seeing inflation at the pump, at the grocery store, you're also seeing it at the hospital.

Persons: Chris Pochiba, influencer, Sara Aho, Aho, Paul McTaggart, Paul, we've Organizations: CNBC Locations: Turkey, Switzerland, South Korea, Korea, Mexico, Costa Rica, India, Thailand

[1/2] Supporters of Pakistan's former Prime Minister Imran Khan block a highway, during a protest against his arrest, in Karachi, Pakistan May 9, 2023. REUTERS/Akhtar Soomro/File PhotoISLAMABAD, June 26 (Reuters) - Pakistan's army has sacked three senior officers, including a lieutenant general, for failing to prevent violent attacks on military assets by ex-prime minister Imran Khan's supporters protesting his arrest, the army's spokesperson said on Monday. He also declined to name the senior officers who had been fired. Human rights groups have raised concerns about military trials of civilians in Pakistan that they say cannot ensure a fair defence. Chaudhry added that several relatives, including women, of senior army officers were also facing trials for allegedly being facilitators of the violence.

Persons: Imran Khan, Akhtar Soomro, Imran Khan's, Ahmad Sharif Chaudhry, Chaudhry, Asif Shahzad, Shilpa Jamkhandikar, Toby Chopra, Christina Fincher, Mark Heinrich Our Organizations: REUTERS, Thomson Locations: Karachi, Pakistan, ISLAMABAD, Rawalpindi

Islamabad and New Delhi CNN —Tropical Cyclone Biparjoy has made landfall in India’s western Gujarat state, close to the Pakistan border, unleashing powerful gusts of wind that ripped up trees and toppled electricity poles. At landfall, Biparjoy was equivalent to a strong tropical storm with winds of 65 mph (100 kph), according to the Joint Typhoon Warning Center. Heavy rainfall warnings are expected to remain in place for northwest India through Saturday. Akhtar Soomro/ReutersBefore the storm, both India and Pakistan implemented mass safety measures to ensure minimal damage and loss of life. A man rides a motorcycle through a waterlogged street in Mandvi before the arrival of cyclone Biparjoy in the western state of Gujarat, India, June 15, 2023.

Persons: Biparjoy, Akhtar Soomro, Francis Mascarenhas Organizations: New Delhi CNN —, Typhoon Warning, Reuters, Livestock, PIA, National Disaster Management Authority, Residents, Getty, Shenzhen Institute of Meteorological, Chinese University of Hong Locations: Islamabad, New Delhi, India’s, Gujarat, Pakistan, India, Sindh, floodwater, Mumbai, Karachi, Mandvi, Pakistan's Sindh, AFP, Chinese University of Hong Kong, Asia

Islamabad and New Delhi CNN —Tens of thousands of people are being evacuated as India and Pakistan brace for the impact of Cyclone Biparjoy, which is expected to make landfall in densely populated areas across the subcontinent Thursday, putting millions of lives at risk. Mass evacuations have started in Pakistan’s Sindh province, with about 60,000 people sent to temporary shelters, according to local authorities. Residents evacuate from a coastal area of Keti Bandar before the expected arrival of Cyclone Biparjoy in Pakistan's Sindh province on June 13. In India’s Gujarat state, about 21,000 people have been evacuated from coastal areas, according to the state’s relief commissioner, Alok Kumar Pandey. People gather near the shore before the arrival of Cyclone Biparjoy at Clifton Beach in Karachi, Pakistan, on June 13.

Persons: Biparjoy, ”, Leela Ram Kohli, Alok Kumar Pandey, Rashmi, Sherry Rehman, Cyclone, Akhtar Soomro, Tauktae Organizations: New Delhi CNN, India Meteorological Department, Cyclone, AFP, Getty, PIA, Livestock, CNN, Authorities, Twitter, Shenzhen Institute of Meteorological, Chinese University of Hong, World Meteorological Organization Locations: Islamabad, New Delhi, India, Pakistan, Pakistan’s Sindh, Karachi – Pakistan’s, Keti Bandar, Pakistan's Sindh, Sindh, Badin, India’s Gujarat, Gujarat, Maharashtra, Mumbai, Balochistan, People, Clifton Beach, Karachi, Chinese University of Hong Kong, Asia, India’s

[1/3] A man with a mobile phone takes a picture of rising waves before the arrival of the cyclonic storm Biparjoy over the Arabian Sea, in Karachi, Pakistan, June 14, 2023. The cyclone is likely to cross Saurashtra, Kutch, and neighboring Pakistan coasts on Thursday noon with winds of 125-135 kmph gusting to 150 kmph. "As of now, our forecast is it will cross as a very severe cyclonic storm. After crossing, its intensity will fall and become a cyclonic storm and depression." In neighbouring Pakistan 62,000 people were evacuated from high risk areas, according to the country's National Disaster Management Authority.

Persons: Akhtar Soomro, gusting, Sherry Rehman, Manorama Mohanty, Mrutyunjay Mohapatra, Mohapatra, Alok Kumar Pandey, Sumit Khanna, Rajendra Jadhav, Gibran Naiyyar Peshimam, Sudipto Ganguly, Raju Gopalakrishnan, Barbara Lewis Organizations: REUTERS, India Meteorological Department, IMD, Gujarat's, Disaster Management Authority, Ships, Rajendra, Thomson Locations: Karachi, Pakistan, Akhtar Soomro AHMEDABAD, MUMBAI, Jakhau Port, Indian, Gujarat, Pakistan's, Saurashtra, Kutch, Mandvi, Jakhau, India, Ahmedabad, Mumbai

Finance Minister Ishaq Dar announced the target during his budget speech to the national legislature. The deficit target for the fiscal year ending this month had been revised higher, from a previous projection of 4.9%. The government had prepared "a responsible budget, not an election budget", Dar said. The total spending target would be 14.46 trillion rupees ($50.45 billion), Dar said, with 1.8 trillion rupees going to defence. It would target net external financing of 2,527 billion rupees for the fiscal year ending in June 2024 of which 1,601 billion rupees would come via commercial and Eurobond borrowing.

Persons: Akhtar Soomro, Ishaq Dar, Dar, Shehbaz Sharif, Shahbaz Ashraf, Mustafa Pasha, Asif Shahzad, Gibran Peshimam, Shahid, Charlotte Greenfield, Louise Heavens, Mark Heinrich, Mark Potter, Sriraj Organizations: REUTERS, IMF, Finance, Pakistan, FRIM Ventures, Lakson Investments, Reuters, Thomson Locations: Karachi, Pakistan, IMF ISLAMABAD

☆ Watched by IMF, Pakistan to present budget amid economic, political crises
▼ + stars: | 2023-06-09 | by ( ) www.reuters.com time to read: +3 min

[1/4] A labourer waits for work while sitting beside push trollies outside a market in Karachi, Pakistan June 8, 2023. Against the backcloth of this political drama, Finance Minister Ishaq Dar is set to deliver his budget speech to parliament after 4:00 pm (1100 GMT) on Friday. Some budget figures were announced earlier this week, including development spending of 1,150 billion Pakistani rupees ($4 billion), and an economic growth target of 3.5% for the coming fiscal year. On Thursday, the International Monetary Fund said that it has been discussing the budget with Pakistan. Pakistan missed almost all of its economic targets set in the last budget, most notably its growth target, which was initially set at 5%, revised down to 2% earlier this year.

Persons: Akhtar Soomro, Shehbaz, Imran Khan, Ishaq Dar, Esther Perez Ruiz, Khan, Gibran Peshimam, Simon Cameron, Moore Organizations: REUTERS, IMF, Reuters, International Monetary Fund, Pakistan, Thomson Locations: Karachi, Pakistan, Akhtar Soomro ISLAMABAD

☆ Pakistan's Imran Khan openly accuses military of trying to destroy his party
▼ + stars: | 2023-06-04 | by ( Gibran Naiyyar Peshimam | ) www.reuters.com time to read: +5 min

[1/5] Former Pakistani Prime Minister Imran Khan pauses as he speaks with Reuters during an interview, in Lahore, Pakistan March 17, 2023. A bruising year-long standoff between Khan, Pakistan's most popular leader according to polls, and the army came to a head when military buildings and property were ransacked last month, allegedly by his supporters. "I have absolutely no doubt that the military courts are meant for me," said Khan, who is out on bail. Amnesty International says Pakistan's military courts have previously shown disregard for due process, lack of transparency, coerced confessions and executions after unfair trials. Munir was later selected as the country's top general by Khan's successor and political rival, Prime Minister Shehbaz Sharif.

Persons: Imran Khan, Akhtar Soomro, Khan, Asim Munir, Munir, Pakistan's, Shehbaz Sharif, who's, Gibran Peshimam, Raju Gopalakrishnan Organizations: Pakistani, Reuters, REUTERS, Authorities, Amnesty, military's Inter Services Intelligence, PTI, ISI, Thomson Locations: Lahore, Pakistan, LAHORE

NEW DELHI, May 30 (Reuters) - India will start a pilot project this week to establish itself as an electronics repair hub by relaxing cumbersome import-export rules, a move that could draw tech majors such as Flex (FLEX.O) to expand such operations in the country. In the pilot phase, which will see participation from companies including Lenovo (0992.HK) and Cisco (CSCO.O), India will also permit re-export of the imported electronics goods to countries different from the original one - currently it is banned under foreign trade rules. "Repair outsourcing will incentivise electronic manufacturers to further expand their production capabilities in India. This is a critical step towards ensuring resilience to supply chain shocks," said Jafri, who estimated the repair industry in India to be worth $20 billion in five years. High repair costs in regions such as Europe and the United States are compelling companies to send goods overseas, Jafri said.

NEW DELHI, May 17 (Reuters) - India on Wednesday unveiled an expanded incentive scheme to attract big-ticket investments in IT hardware manufacturing, doubling the amount to $2 billion as it aims to spur domestic production of laptops and tablets. "It will create additional incentives for companies to set up their manufacturing base in India," India's deputy IT minister Rajeev Chandrasekhar said. These companies are expected to produce nearly $41 billion of IT products and create more than 75,000 jobs, the government said. The original incentive plan was announced in February 2021 with a $1 billion outlay. "We believe this scheme will help IT hardware sector to achieve the same level of success India had with smartphone manufacturing," said Ali Akhtar Jafri, Director General at MAIT.

☆ Kate Winslet, Ben Whishaw win at BAFTA Television Awards
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +2 min

LONDON, May 15 (Reuters) - Kate Winslet and Ben Whishaw were among the winners at the BAFTA Television Awards in London on Sunday night, with the Oscar-winning actress using her acceptance speech to call for action against harmful content on social media. To people in power and to people who can make change: please, criminalise harmful content. Please eradicate harmful content. Dublin-set "Bad Sisters" won the drama series categories as well as a supporting actress prize for Anne-Marie Duff. A sketch showing the late monarch having tea with Paddington Bear, voiced by Whishaw, won the memorable moment award, voted for by the public.

He had remained inside for hours after being granted bail, saying he was not being allowed to leave by security officials. It's not the security agencies, it's one man – the army chief," he said, without naming him. He has since been a vocal critic of current army chief General Asim Munir. [1/7] Security officers escort Pakistan's former Prime Minister Imran Khan, as he appeared in Islamabad High Court, Islamabad, Pakistan May 12, 2023. "The Islamabad High Court has given a two-week bail and also ordered the (anti-graft body) not to arrest Imran Khan during this period," another of Khan's lawyers, Faisal Chaudhry, told Reuters.

☆ Pakistan arrests ex-PM Khan's party leaders as protests continue
▼ + stars: | 2023-05-11 | by ( ) www.reuters.com time to read: +2 min

[1/2] Pakistan's Former Foreign Minister Shah Mahmood Qureshi speaks with the media after the proceedings at the Supreme Court in Islamabad, Pakistan April 4, 2022. REUTERS/Akhtar SoomroISLAMABAD, May 11 (Reuters) - Pakistani authorities arrested a senior leader of former Prime Minister Imran Khan's party on Thursday as the government deployed the army to help end deadly unrest sparked by Khan's arrest three days ago. Shah Mahmood Qureshi, who served as foreign minister in Imran Khan's cabinet during his four year premiership, was arrested overnight, a statement on his Twitter profile said. Two other senior leader of Khan's Pakistan Tehreek-e-Insaf (PTI) party, Asad Umar and Fawad Chaudhry, were also arrested on Wednesday. Police have arrested more than 1,300 protesters in Khan's home province of Punjab for violence.

May 9 (Reuters) - Pakistan's anti-graft watchdog arrested former Prime Minister Imran Khan at Islamabad High Court on Tuesday, in a dramatic move that threatens fresh turmoil in the nuclear-armed country. You won't get any other opportunity," the Pakistan Tehreek-e-Insaf (PTI) party wrote on Twitter. In most of the cases, Khan faces being barred from holding public office if convicted, with a national election scheduled for November. Previous attempts to arrest Khan from his Lahore home resulted in heavy clashes between his supporters and law enforcement personnel. Political infighting is common in Pakistan, where no prime minister has yet fulfilled a full term and where the military has ruled for nearly half of the country's history.

☆ 10 Things in Tech: Joe Biden has tried ChatGPT, Silicon Valley goes sober, and leaked Shopify audio
▼ + stars: | 2023-05-05 | by ( Diamond Naga Siu | ) www.businessinsider.com time to read: +4 min

And Silicon Valley is catching on, too. My colleague Samantha Stokes did a deep dive into the growing trend of techies avoiding alcohol. Silicon Valley goes sober. My colleague Samantha Stokes examined this growing trend in Silicon Valley and gives some insight into the drying industry. In other news:Screenshot of Hot Chat 30002.

A 17-year-old critically ill elephant called Noor Jehan has died at Pakistan’s Karachi Zoo, with the animal welfare charity that had been treating her calling for the zoo’s closure. Noor Jehan represents so many more wild animals that suffer in captivity, in Pakistan and worldwide,” the group said. “We welcome that the Federal and Sindh government are considering shutting down Karachi Zoo permanently. Reuters reported that the director of Karachi Zoo Khalid Hashmi was removed from is role on April 8 over complaints of negligence. Noor Jehan was brought to Pakistan from Tanzania more than a decade ago, Reuters said.

[1/5] People look at handbags on display outside shops in a market, ahead of Eid al-Fitr celebrations in Karachi, Pakistan April 19, 2023. REUTERS/Akhtar SoomroKARACHI, Pakistan, April 20 (Reuters) - Retail sales in Pakistan have witnessed a sharp drop compared to previous years in the run up to the Muslim holiday of Eid al-Fitr, retailers say, as shoppers feel the pinch of decades-high inflation. The lead up to Eid al-Fitr, expected to fall on Saturday in Pakistan to mark the end of the holy month of Ramadan, traditionally sees the highest sales of the year. Asfandyar Farrukh, co-founder of CAP and managing director of Hub, a leather goods store, said that Eid shopping appears to have started sooner and peaked earlier, coinciding with salary pay days, and customers anticipating price increases. The sales drop adds to the slowing of Pakistan's $350 billion economy, which has struggled in recent months amidst tough stabilisation polices, including the central bank raising interest rates to a historic high of 21%.

[1/2] African elephant Noor Jahan, 17, who is unwell, rests on a sand pile, at a zoo in Karachi, Pakistan April 14, 2023. REUTERS/Akhtar Soomro TPX IMAGES OF THE DAYKARACHI, Pakistan, April 14 (Reuters) - Noor Jehan, an elephant in Pakistan's Karachi Zoo, is critically ill after the 17-year-old fell in a pond on Thursday in a small enclosure. Right after the fall Four Paws, a global animal welfare organization, recommended lifting Noor Jehan with a crane, ropes and belts. The veterinarian from Egypt had then given Noor Jehan a strong chance of survival. Khalid Hashmi was removed as director of Karachi Zoo on April 8 over complaints of negligence.

☆ Analysis: Debt crunch looms for weaker economies with a wall of bond maturities ahead
▼ + stars: | 2023-04-10 | by ( Jorgelina Do Rosario | ) www.reuters.com time to read: +5 min

"A more prolonged period without market access would be of more concern for the lower-rated tiers of the emerging markets sovereign universe," said James Wilson, EM sovereign strategist for ING. Tapping international debt markets hasn't been a problem across the board for emerging economies. The JPMorgan's emerging markets bond index (EMBI) for high yield debt is at 900 basis points over U.S. Treasuries, and has largely remained over 800 bps since the beginning of last year. The Russia conflict and then the Fed hiking cycle led to higher spreads for a much longer period," said Gregory Smith, emerging markets fund manager at London-based M&G Investment. A weaker U.S. dollar should help countries to tap international markets in the medium term, but recent data fueled jitters that restrictive central bank policies could push the global economy into recession.

☆ Half a trillion in debt haircuts essential for sustainability - study
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +3 min

The haircuts on debt owed to public and private creditors by 61 of the nations that are already in or are at most risk of debt distress are essential to avoid "cascading defaults," according to calculations from the Boston University Global Development Policy Center and the Debt Relief for a Green and Inclusive Recovery (DRGR) Project. "Without ambitious debt relief, many of the poorest countries don't have a chance," said Kevin P. Gallagher, DRGR project co-chair and director of the Boston University Global Development Policy Center. Reuters GraphicsThe researchers found that some $812 billion in debt across all creditor classes should be in scope for restructuring. To achieve the best outcome, researchers proposed to include instruments that had alleviated previous emerging market debt crises. Ratings agency Fitch said there are currently a record number of sovereign debt defaults, while the International Monetary Fund said 25% of emerging markets and 60% of low-income countries are in or near debt distress.

I'll never get over his death as long as I live," his father, Umer Zada, told Reuters. Zada said the distribution of aid should have been better organised, with police supervision of the hungry and desperate seeking help. "There has been a 50% reduction in donations this year, while there has been a 50% increase in people seeking help." The group's ambulances took away the injured and the bodies of Saad and the others killed in the Karachi crush. Like everyone, Zada is struggling with inflation but he also has to contend with grief and questions that torment him.

☆ Pakistan court orders provincial votes in win for ex-PM Khan
▼ + stars: | 2023-04-04 | by ( Asif Shahzad | ) www.reuters.com time to read: +2 min

[1/2] Former Pakistani Prime Minister Imran Khan, gestures as he speaks with Reuters during an interview, in Lahore, Pakistan March 17, 2023. But the Supreme Court ruled that the delay was illegal and voting in the two provinces should be held between April 30 and May 15. It said the provincial assembly election in Punjab, Pakistan's most prosperous and politically important province should be on May 14. The court also ordered the government to release 21 billion rupees ($73.17 million) to the election commission to organise the two provincial elections. Parliament last week introduced a draft law to clip the powers of the Supreme Court.

☆ Pakistan posts highest-ever annual inflation; stampedes for food kill 16
▼ + stars: | 2023-04-01 | by ( Asif Shahzad | ) www.reuters.com time to read: +2 min

REUTERS/Akhtar SoomroISLAMABAD, April 1 (Reuters) - Consumer price inflation in Pakistan jumped to a record 35.37% in March from a year earlier, the statistics bureau said on Saturday, as at least 16 people were killed in stampedes for food aid. The March inflation number eclipsed February's 31.5%, the bureau said, as food, beverage and transport prices surged up to 50% year-on-year. A spokesman at the statistics bureau said the inflation number was the highest ever year-on-year increase recorded by the bureau since monthly records began in the 1970s. Annual food inflation in March was at 47.1% and 50.2% for urban and rural areas respectively, the bureau said. Core inflation, which strips out food and energy, stood at 18.6% in urban areas and 23.1% in rural areas.

☆ 6 ways to support Muslim coworkers who are fasting during Ramadan
▼ + stars: | 2023-03-23 | by ( Allana Akhtar | Marguerite Ward | ) www.businessinsider.com time to read: +5 min

For many Muslims, Ramadan means abstaining from food and drink while at work. So, how can non-Muslim colleagues be supportive, while also not accidentally making a micro-aggression toward someone who is observing Ramadan? At one office where Nasr worked, a boss privately asked her if she needed any special accommodations while observing Ramadan. Most Muslims use the Arabic phrase "Ramadan Mubarak," which translates to "have a blessed Ramadan" or "happy Ramadan, to greet each other. Plus, there are many other reasons why Muslims don't fast, like during illness or travel.

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