The banks have managed to achieve a record high profit despite economic slowdown and underperforming industrial activities in the country. “In calendar year 2023, the banking sector in the listed space witnessed significant profits (i.e., 86% year-on-year) driven mainly by policy rate hikes of 600 basis points coupled with volumetric growth in deposits (over 24% in 2023 compared to 2022),” she said. Government securities account for 51% of Pakistani banks’ total assets and around nine times their equity. AHL expert Tawfik further said that in 2023 the banking sector demonstrated an outstanding performance, achieving remarkable milestones that surpassed previous records. The government borrowed from banks for deficit financing, but the money continued to remain parked in banks, which inflated the deposit size.

The dollar has depreciated against the rupee in the open market in the country. The State Bank of Pakistan had announced a public holiday in banks on the 1st of Ramadan today. Will not transact with. However, the price of the dollar has become cheaper by 14 paise in the open, after which the dollar is selling at 281 rupees 47 paise. According to the State Bank of Pakistan, the dollar closed at 279 rupees 8 paise yesterday in the interbank exchange.

ICC has released Test, ODI and T20 player rankings. New Zealand’s Kane Williamson remains at the top of the Test player rankings, while England’s Joe Root also remains at the second position. Australia’s Steve Smith dropped two places to fifth place while India’s Rohit Sharma moved up five places to sixth place. ODI RankingsPakistan’s Babar Azam remains in the first position in the ICC ODI batsmen, while South Africa’s Cashew Maharaj is in the first position among the bowlers. Among T20 bowlers, England’s Adil Rashid is number one, while Bangladesh’s Shakib Al Hasan is number one among T20 all-rounders.

Plastic bags contribute to land degradation as plastic can transform fertile land into bar­ren terrain. Further­more, researchers have discovered that plastic bags can serve as a source of numerous deadly diseas­es, including cancer, birth defects, immune damage, and asthma. The government should conduct surveys to assess the ex­tent of environmental and pub­lic health damage caused by plas­tic bags. Subsequently, measures should be implemented to raise awareness among the populace regarding the loss of fertile land for future generations and the health risks associated with the use of plastic bags. Moreover, leg­islation should be enacted to min­imise the use of plastic bags to an essential minimum.

Center of Artificial Intelligence can uplift nation's economy: AhsanMinister for Planning and Development Ahsan Iqbal says Center of Artificial Intelligence can uplift the nation's economy through product commercialization and digital exports for economic growth. He expressed these views during his visit to National Center of Artificial Intelligence (NCAI) at National University of Science and Technology in Islamabad on Wednesday. During his visit, Ahsan Iqbal was given a comprehensive briefing on the progress achieved by NCAI and the other national centers. Chairman National Center of Artificial Intelligence, Professor Dr. Yasar Ayaz, gave an overview of the National Center of Emerging Technologies and focused on NCAI's pivotal role in shaping the nation's technological landscape. He also emphasized that National Center of Artificial Intelligence to reconvene the Task Force meeting and include AI experts from corporate sectors, both international and Pakistani AI top talent.

Corsicana, TX (75110)TodayCloudy skies early, followed by partial clearing. Winds S at 10 to 20 mph..TonightA few showers this evening tapering to some drizzle overnight. Winds S at 10 to 20 mph. Chance of rain 30%.

Rawalpindi: Pilots and cabin crew members of the national airline Pakistan International Airlines (PIA) have been advised to adhere to guidelines by abstaining from fasting during travel and flights throughout the month of Ramadan. The directive came from the manager of the flight safety department at PIA, who sent out a circular to all cabin crew members, outlining guidelines regarding fasting during flights. The document warned of the potentially serious consequences in emergency situations if actions were delayed or executed incorrectly due to the effects of fasting. The directive explicitly instructed all fasting cockpit and cabin crew members to abstain from operating flights, highlighting that self-exemptions cannot be claimed even under state law. It emphasised compliance with rules and regulations to ensure the safety of passengers and crew.

The induction of Muhammad Augrangzeb as the new Finance Minister probably marks a return to the domination of experts. Bringing in the head of the country’s largest bank means that Ishaq Dar will not be Finance Minister. Though the PM is now Shehbaz Sharif, this particular piece of sleight of hand bears the elder brother’s stamp. Ironically, that problem was faced when bringing in Mr Dar, but he has since acclimatized himself to the Senate. Mr Aurangzeb’s performance will be watched carefully to see whether a Finance Minister who does not depend on popular votes can deliver for politicians at last.

A domestically made fighter aircraft of the Indian Air Force crashed on Tuesday in the western state of Rajasthan, the first such incident since the jet was inducted nearly eight years ago. The pilot ejected safely, the Indian Air Force said in a statement. Tuesday’s crash breaks the jet’s safety record since its first test flight more than two decades ago, an Indian Air Force officer told Reuters. The Indian government in 2021 gave a $6bn contract to state-owned Hindustan Aeronautics Limited, opening a new tab for 83 Tejas jets. The Tejas has been beset by design and other challenges and was once rejected by the Indian Navy as too heavy.

PESHAWAR - City Traffic Police on Monday chalked out a comprehensive traffic plan to ensure smooth flow of traffic during the holy month of Ra­mazan. According to Chief Traffic Officer Dr Zahidullah 1035 wardens, three SPs, 12 DSPs would be per­form late night duty for uninterrupted flow of traffic before Iftar and after Maghrib prayer. He warned that no leniency would be shown over vio­lation of traffic rules.

CHITRAL - Nestled in the breathtaking Bam­borait Valley here, Kalasha Dur Museum attracted tourists and archaeology lovers in droves, ex­ploring the rare artefacts and stat­ues of the Gandhara Civilisation. “Chitral is my favourite tourist place due to its diverse culture es­pecially Kalash, archaeological sig­nificance and adventure sports. The Kalasha Museum is a good edition in Chitral that impress me the most,” said former Conservator of Forest Gulzar Rehman while talking to APP. He said the foundation of Kala­sha Museum commonly known as Bamborate Museum was laid in 2001 and completed in 2005. The experts said the proposed Kumrat-Madaklasht ca­ble car if constructed would turn Chitral a hub of tourism besides bring direct foreign investment.

Muhammad Aurangzeb is a seasoned banker with more than 35 years of diverse experience at leading global banks in Pakistan and overseas. PHOTO: FINANCE MINISTRYThe most-awaited appointment - after the premier - has been announced, and serves as a fresh break from tradition for the PML-N-led government. The country's new finance czar is a career banker, and the internet has something to say about this appointment. Aurangzeb's appointment comes amid a debilitating economic crisis and the need for Pakistan to secure a crucial IMF programme, which will be of utmost priority for the new finance chief. A former Citi banker, Aurangzeb has also served in JP Morgan’s Global Corporate Bank based in Singapore and at ABN AMRO in Amsterdam.

Catherine, Princess of Wales, on Monday apologised and admitted to editing an official portrait of her released by the palace that prompted AFP and other agencies to withdraw the altered image. Her Kensington Palace office on Sunday sought to dispel rumours by distributing an official photograph said to have been taken by her husband Prince William of his wife with their three children. They included several inconsistencies such as the zip of Kate's jacket being misaligned in one place, while part of Princess Charlotte's sleeve is missing. British media outlets, often frustrated by palace stonewalling, have tended not to question official royal information, she added. Sunday's contentious photograph overshadowed the Commonwealth Day event, even without the king in attendance as he undergoes treatment for cancer.

From Tribune staff reportsTRUSSVILLE–The Trussville Area Chamber of Commerce (TACC) announced the dates for this year’s Trussville Spring Carnival on Monday. The 2024 carnival will be held from Thursday, April 4 through Sunday, April 7 in the grassy field next to Holy Cross Episcopal Church and across from Veteran’s Park. ‘We know the community looks forward to the carnival, and are excited to have it back this spring” says TACC’s Melissa Walker. The spring carnival, sponsored by Amari & Gray Legal Advocacy and Consulting, will feature a variety of tasty treats as well as rides and activities for all ages. Parking will be available at Veteran’s Park and at other lots along Main Street.

Vijayawada: Jana Sena chief Pawan Kalyan has asked his party activists to do their best in the coming polls in AP to oust the YSRC from power. At an event held at the party headquarters in Mangalagiri on Tuesday, Pawan Kalyan formally inducted Bhimavaram’s former MLA Pulaparthi Ramanjaneyulu into the Jana Sena. He advised Ramanjaneyulu to strengthen the party. PK said that despite losing the 2019 polls, he was able to take the party forward and work out an alliance between the TD, JS and BJP. Earlier, Pulaparthi Ramanjaneyulu vowed to work for JS and Pawan Kalyan and said he joined the JS after being impressed by the ideals of Pawan Kalyan.