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Arshad Khan, the viral "Chaiwala" from Pakistan, has secured a Rs 1 crore investment on Shark Tank Pakistan to expand his tea brand, Chaiwala & Co. Known for blending traditional chai with cultural experiences, Khan aims to represent Pakistan globally, with outlets in Pakistan and a flagship café in London. He recently invited potential franchisees worldwide to join his venture.
Delhi and Lahore have recently exchanged positions as the world's most polluted cities, prompting Punjab officials to seek dialogue with India on air pollution. The World Bank is investing significantly in regional projects to tackle this cross-border crisis, as both nations face severe health risks from shared pollution sources. Experts at COP29 are advocating for clean air standards to be integrated into climate commitments, highlighting the urgent need for international cooperation in addressing this public health emergency.
Diabetes poses a significant health challenge in Pakistan, with over 53% of deaths attributed to non-communicable diseases. Patients like Taskeen Arshad struggle to access affordable medications due to government shortages and rising prices, while healthcare facilities lack the necessary resources and staff. Experts emphasize the need for improved primary healthcare and preventive measures to combat the growing diabetes epidemic.
A dozen banks in Pakistan have received temporary relief from the Islamabad High Court regarding a government tax imposed on lenders whose private sector borrowing falls below a specified target. The court has prohibited the government from collecting this tax based on banks' advance-to-deposit ratios until a final decision is made. The case is set for a hearing on December 3, with no timeline for the final ruling yet established.
Switzerland has maintained its position as the most innovative country for 14 consecutive years, excelling in both innovation inputs and outputs. The nation benefits from a robust intellectual property system, significant R&D investment, and strong collaboration between academia and industry, attracting foreign companies to establish research hubs. Despite its small size, Switzerland's high-tech sectors, particularly in biotech and precision machinery, contribute significantly to its economic success and innovation ranking.
Pakistan has reduced its benchmark interest rate for the fourth consecutive time, bringing it down by 250 basis points to 15%, the lowest level in two years. This move aims to support the struggling economy, with all 38 economists surveyed predicting a rate cut, eight of whom anticipated this specific adjustment.
Pakistan's attempt to sell its national airline, Pakistan International Airlines Corp., faces uncertainty after the initial bid fell significantly short of the expected minimum price of $306 million. Blue World City offered a bid 8.5 times lower than the government's target of 85 billion rupees. The government plans to review the bidding outcome, though no timeline has been provided.
Pakistan International Airline (PIA) received a single bid of $36 million from Blue World City for a 60% stake, far below the government's minimum expectation of $306 million. The real estate group plans to revive the airline by leasing aircraft and seeking financial backing from Chinese and Turkish investors. Despite the bid, shares of PIA initially rose but ultimately fell by 5% by the end of the trading session.
India could face a staggering loss of around 25% of its GDP by 2100 if global temperatures rise by 4.7 degrees Celsius and the country fails to achieve its net-zero target by 2070, according to a report by the Asian Development Bank. The report highlights that while South East Asia, Pakistan, and the Philippines may be less affected, Bangladesh and Vietnam could see GDP losses of 30% by 2070. The cost of inaction is projected to escalate, with India losing approximately 5% of its GDP by 2035, increasing to 13% by 2050 and nearly 25% by 2070.
Pakistan's attempt to privatize its national airline has attracted only one bid, as five other consortiums opted out of the process. The interested party has submitted the required "earnest money" to the Privatisation Commission by the deadline, although their identity remains undisclosed.
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