[allAfrica]

Adele decided to take a big break after 'Las Vegas Residency'American singer, Adele, while conversing with the audience during one of her Las Vegas shows, revealed a few insights about her drinking habit. Hello singer admitted that she can drink 25 bottles of wine in a single night and remain...

Conan Gray and Olivia Rodrigo became friends because of their shared love for Taylor SwiftLong-time besties Olivia Rodrigo and Conan Gray are celebrating their time off together as the two are done with their successful tours this year.The drivers license hitmaker took to Instagram and shared a...

Royal author Tina Brown has suggested that Prince William would benefit from a stronger relationship with his brother, Prince Harry, who could help temper William's statements and actions when necessary. The brothers, who are currently not on speaking terms, have had a strained relationship...

Chanel Maya Bank plays Sawyer Bennett in 'Gossip Girl' Gossip Girl star Chanel Maya Bank’s has sparked panic as she has been missing since two weeks.Chanel aka Sawyer Benett reportedly disappeared in Los Angeles. Her family members, including her mum, Judy Singh and cousin, Danielle-Tori...

Britney Spears first priority is reunion with her childrenBritney Spears’ recent reunion with son Jayden came as a shock to people close to her and the singer’s friends are reportedly feeling divided over her decision.The 42-year-old popstar, who had not seen her kids for over a year...

J Hope is as excited about BTS bandmate Jin’s debut solo album releases as BTS ARMY and K-pop idol himself.In a recent Weverse Live on Tuesday, November 12, J Hope, whose real name is Jung Ho-seok, updated his whereabouts to the curious fans while teasing new projects in the pipeline and...

Singer Ray J exposes secret deals of Sean Diddy CombsSean Diddy Combs, American rapper and producer, is currently in deep water as his on-going controversial charges continue to get worse each day. The 55-year-old is now going through a difficult phase of his life being held at the Metropolitan...

Blue Ivy shocks fans as she attended the movie premiere.Blue Ivy has made a public appearance at the Wicked premiere.On Sunday, November 10th, she attended the Los Angeles premiere with her grandmother, Tina Knowles.The 12-year-old singer stole the spotlight and turned heads as she brought...

Céline Dion has found a new admirer of her popular soundtrack, My Heart will Go On, but it is not a human.Taking it to her Instagram, Dion shared a fun clip of her playing with the Siri app.She wanted to hear the 2024 version of Hymne à l'amour by late singer Edith Piaf, but Siri...

John M. Chu has recently spilled the tea about highly-anticipated Britney Spears biopic.In an exclusive interview with E! News, Chu, who is currently promoting his new Wicked movie, revealed he’s is all set for movie adaptation of Britney’s 2022 memoir, The Woman In Me for big...

Demi Moore may never forgive Rob Lowe amid Bruce Willis’ health battleDemi Moore not happy with Rob Lowe as he revisits their past fling amid Bruce Willis ongoing health battle.A source spilled to RadarOnline.com, Moore believed it was “mean and even dimwitted” for Lowe as he...

Cheryl reunites with her 2002 pop band Girls Aloud after many years Liam Payne’s ex-partner Cheryl reunited with her old Girls Aloud bandmates for the 43rd birthday of late bandmate Sarah Harding.The band recorded a concert film on their reunion tour across the UK and Ireland which will...

Louise Thompson suffers haemorrhage, loses three litres of blood while giving birth to sonLouise Thompson, who suffered an horrific septic shock recently, has shared an health update for her followers.Taking to Instagram, Louise poured in her hopes about getting discharged from the hospital, after...

Miranda Cosgrove surprised 'iCarly' fans with a surprise updateMiranda Cosgrave revealed good news for the iCarly fans.In a conversation with Natalie Morales on The Talk, the Nickelodeon star teased a potential new project in the iCarly universe to give fans the closure they yearned for following...

Trump Signals potential action on Prince Harry's visaDonald Trump's re-election bid has sparked new attention on Prince Harry's US visa status, with some speculating that the incoming President may take action if the Duke of Sussex is found to have lied on his visa application. Speaking ahead...

Blake Lively, Ryan Reynolds make heartwarming move following grand donationRyan Reynolds and Blake Lively throw a special surprise for a Deadpool fan battling cancer.The power couple stunned fans with a heartwarming gesture, inviting Deadpool fan Riley to a Wrexham game in a heartfelt...

Lili Reinhart reflects on 'shameful' journey of being a starLili Reinhart, who rose to immense fame after her iconic character as Betty Cooper in mystery drama, has spilled the beans on her personal struggles of her career. The 28-year-old star recently revealed that she has been facing...

Bob Dylan biopic 'A Complete Unknown' is set to release on December 25Timothée Chalamet, who has been taken on-board to play Bob Dylan’s biopic, revealed that the veteran singer and songwriter made alterations in the script of the upcoming movie. Wonka actor shared that Dylan was the...

My Chemical Romance fans are in for a nostalgic thrill next summer.The rock band announced they’ll perform their iconic 2006 album The Black Parade in its entirety on a North American stadium tour starting July 11, 2025, in Seattle. The tour spans 10 cities, including major stops in Los...

Robbie Williams reflects on Liam Payne's deathRobbie Williams is reflecting on Liam Payne's death almost a month after the singer tragically passed away.The former One Direction singer plunged to death from the third-floor balcony of his hotel in Buenos Aires on October 16.The Argentinian...

Jim Carrey, Keanu Reeves and Idris Elba to star in 'Sonic 3'Sonic the Hedgehog 3 end will be putting the basis of the fourth installment. Director, Jeff Fowler revealed that he has been talking to his team about ongoing 'fan debate online' surrounding what characters the franchise can further add...

Lupita Nyong’o makes major move into Christopher Nolan’s star-packed untitled mystery film Lupita Nyong’o is the latest actor to join the star-studded ensemble of Christopher Nolan’s next highly anticipated film.Following the casting announcements of Anne...

Selena Gomez and David Henrie reunited in the pilot premiered in October 2024Selena Gomez isn’t done being Alex Russo just yet. The actress and singer, 32, confirmed that her iconic character is set to make a comeback soon after appearing in the pilot episode of Wizards Beyond Waverly Place....

Sydney Sweeney calls out Hollywood for being 'fake'Sydney Sweeney, American actress who rose to fame with her iconic character in drama series Euphoria, gave a peek behind curtains and revealed a harsh reality of Hollywood. The 27-year-old actress shared her frustration with how the industry...

Gwen Stefani set to release fourth solo album on FridayLegendary musician Gwen Stefani looks back at the making of the breakthrough album of her solo career Love.Angel.Music.Baby., as she marks 20 years of releasing it.Discussing the album, the popstar said, "At that point, things were unhinged,...

Sir Elton John has severe eye infection which has affected his vision in one eyeSir Elton John has unveiled what he wishes to have as his last meal before dying amid health scare. John has successfully managed to control his blood sugar level ever since he has been diagnosed with type 2 diabetes....

King Charles recently axed the Duke of York's £1million-a-year allowancePrincess Eugenie and Princess Beatrice are reportedly deeply concerned about their father, Prince Andrew, as his mental and emotional well-being continues to decline.Sources close to the family have revealed that the...

The actress assured fans that Season 3 is still on track to begin filming in January 2025Zendaya is setting the record straight after claims surfaced suggesting she was behind the long delays for Euphoria’s highly anticipated third season. In a November 13th interview with Vanity Fair, the...

Zendaya got candid on how she feels working with her beau Tom Holland.While joining the star-studded lineup on the cover of Vanity Fair’s 31st Annual Hollywood Issue, the actress shared about the “chemistry” she has with Holland when the couple is working together.When asked if...

Jude Law on signing up for 'Alfie', 'bad move' Jude Law regretted making that one “bad move” that pulled him down from a “strong position” in Hollywood.In an interview with GQ Magazine UK, Law revealed that taking on the lead role in 2004’s Alfie was a “bad...

John Krasinski knew Emily Blunt was the right one for him “the second” he met her.In an interview with People for his Sexiest Man Alive cover story, he recalled the spark he felt in him when he met her Blunt.“I don't know what happened, but I remember someone introduced us, and...

Zendaya revealed that the Challengers cast still stays in touch with a “group chat”.In a conversation besides the star-studded lineup for the cover of Vanity Fair’s 31st Annual Hollywood Issue, the actress revealed what role she plays amongst the members of the...

Rob Lowe responds to Joan Vassos' confessionRob Lowe wants to be Golden Bachelorette Joan Vassos' Golden Bachelor.During an October 16 appearance on Jimmy Kimmel Live, The Golden Bachelorette star Joan Vassos shared that she had been an extra in the 1985 film St. Elmo’s Fire and hinted...

John Krasinski on Emily Blunt and 'A Quiet Place' John Krasinski reflected on how working with wife Emily Blunt in the The Quiet Place films made the franchise a success.“It turned out to be incredible,” Krasinski recalled of the “thrilling” experience on the...

Ariana Grande felt 'obsessed' with 'munchkins' on 'Wicked' setAriana Grande had a “wicked” obsession.Grande felt “immediately obsessed” the first time she saw the Munchkins on the Ivinghoe set of Wicked back in 2022.“She was just obsessed immediately. She wanted her...

Whoopi Goldberg faces backlash over 'working' class statement Whoopi Goldberg has “got to be one of the most tone deaf celebrities”, according to her fans-turned-critics.The View co-host is facing criticism for describing herself the same as the working and middle-class Americans,...

Nicole Kidman reveals she wants to work with THIS movie-makerNicole Kidman has recently taken a subtle dig at one of the iconic directors in Hollywood for his male-centered movies.In a new interview with Vanity Fair, the Stoker actress responded to a question about any notable movie-maker...

King Charles issues message after solo appearance at ‘Gladiator II’ premiereKing Charles appeared in high spirits as he stepped out on the red carpet for Gladiator II world premiere in London on Wednesday.The monarch, who is a patron of The Film and TV Charity, attended the 72nd Royal...

Buckingham Palace sets Changing of Guard ceremony to ‘Gladiator’ themeAhead of the Wednesday world premiere of Gladiator II at the Odeon Luxe in London’s Leicester Square, the Buckingham Palace had a special theme set for the Changing of the Guard ceremony.A special recital of...

Nadhmi Al-Nasr’s successor, Aiman al-Mudaifer, currently head of PIF's Local Real Estate Division, will serve as Neom’s acting CEO.  

KARACHI: The country’s Advance to Deposit Ratio (ADR) has been gradually contracting and stood at 37 per cent in June, down from 41pc in December.

This was revealed in the latest issue of A.F. Ferguson & Co’s PwC Banking Publication — Road to Sustainability. This year’s release features core themes like economy, credit penetration and digital transformation, carries insights from over 25 industry leaders, over 10 local and global surveys, snapshots of over 40 international banks and over 10 geographic regions.

“Investment to Deposit Ratio (IDR), on the other hand, has surged from 33pc in 2007 to 88pc in 2023 and 94pc in Jun-24,” the publication reported. These key benchmarks, relative to certain other economies, indicate an enormous potential for credit penetration in the country, it added. There was a sharp rise in profitability on the back of higher margins and non-funded income from different avenues. However, higher tax charges triggered disproportionate moderation in baseline profitability.

The publication offered suggestions for sustained, long-term economic growth. One of the core themes discussed with industry leaders and senior professionals was the country’s economic outlook. Experts underscored the importance of addressing structural deficiencies to improve GDP growth and other key economic indicators.

Only 3pc of SMEs borrow from banks; 75pc farmers rely on informal sources for credit

“Consistent economic policies and actionable long-term roadmap of interventions were also stressed upon,” said the Banking Publication. Experts see increasing imports and consumption as harmful for balance of payments and foreign exchange reserves, it added.

“Opportunities for export diversification and import substitution are enormous, especially in agriculture and tech sectors,” said the report.

Agriculture and SMEs

According to the report, SMEs and agriculture are the backbone of the nation’s progress. “Contributing 40pc of GDP, SMEs constitute nearly 90pc of all private enterprises in Pakistan, generate 30pc in export earnings and employ one-third of the country’s workforce,” said the report. “Out of five million enterprises, fewer than three per cent borrowed from banks,” it reported.

It said around 75pc of farmers still rely on informal sources of credit. Despite its historic importance, access to affordable growth capital remains restrictive.

“Financing for these critical sectors has been declining over the years and currently stands below eight per cent of total loans,” said the Banking Publication. Lending to the private sector is at 12pc of GDP, it added.

According to the publication, deposits grew significantly by 24pc to reach Rs29.1 trillion in 2023, with a further increase of 12pc in June this year, touching Rs32.5tr.

“Advances rose by four per cent to Rs13tr, much lower than 16pc growth rate of 2022, with no further increase till June 2024,” the report added. A significant expansion of 42pc was noted in investments, which reached Rs25.6tr last year and rose by 19pc to Rs30.4tr by June this year.

Borrowings were up by 51pc to Rs11.3tr last year, and by 12pc in Jun-24.

Published in Dawn, November 14th, 2024

KARACHI: The stock market bounced back on Wednesday as investors indulged in value-hunting, helping the benchmark KSE 100 index partially recover overnight losses.

Ali Najib, Head of Sales at Insight Securities, attributed the market’s positive performance to continued buying activity from high-net-worth individuals and mutual funds, supported by improvements on the macroeconomic front, a stable rupee, and a decline in bond market yields.

In early trade, the benchmark KSE-100 index lost 281.49 points to 92,943.59 but rebounded on renewed buying interest, adding 579.02 points to hit an all-time high at 93,803.59 intraday. How­ever, the index settled at 93,355.43 with a trimmed gain of 130.86 points or 0.14pc day-on-day.

Ahsan Mehanti of Arif Habib Corporation said stocks showed recovery led by second and third-tier scrips on strong valuations.

He added that upbeat data on car sales surging 112pc year-on-year in October and the FBR assurance to IMF for dropping contingency measures on revenue, reversing fears about mini-budget were other factors that supported the positive performance at PSX.

Topline Securities Ltd said the market exhibited a consolidation phase, with the index reaching a peak of 93,804 and dipping to a low of 92,943.

The index was boosted by positive contributions from Mari Petroleum, Lucky Cement, The Searle, Engro Corporation, and POL, which collectively added 461 points. Conv­ersely, Oil and Gas Dev­elop­ment Company, Fauji Fertiliser, and Meezan Bank experienced some profit-taking, resulting in a combined loss of 213 points to the index.

The trading volume was up 1.78pc to 807.06m shares, and its value by 2.92pc to Rs31.68.

Stocks contributing significantly to the traded volume included WorldCall Tele­com (43.29m shares), Waves Home Appliances (33.20m shares), Pakistan Refinery (31.52m shares), K-Electric (27.45m shares) and Pak Elektron (26.99m shares).

The shares registering the most significant incre­ases in their prices in absolute terms were Rafhan Maize (Rs64.96), Philip Morris (Rs38.17), Mari Pet­ro­leum (Rs30.13), Lucky Cement (Rs28.64) and Packages Ltd (Rs28.37).

Foreigners remained net sellers as they offloaded shares worth $5.01m.

Published in Dawn, November 14th, 2024

RAWALPINDI: Pakistan Intern­ational Airlines (PIA) will transport 35,000 Haj pilgrims to the holy land under a government scheme in 2025.

A spokesman for PIA said the Ministry of Religious Affairs and PIA have signed an agreement, under which the national flag carrier will operate special flights from six cities — Karachi, Islamabad, Lahore, Quetta, Multan and Sukkur — to transport 35,000 Haj pilgrims to the holy land in 2025.

The agreement was signed by PIA CEO Air Vice Marshal Aamir Hayat and additional religious affairs secretary Dr Syed Ata-ur-Rehman.

The PIA CEO reaffirmed his organisation’s commitment to provide best possible services to the Haj pilgrims.

The federal cabinet recently approved the Haj Policy for 2025, setting the cost for pilgrimage between Rs1,075,000 and Rs1,175,000. The sacrifice amount of Rs55,000 will be in addition to Haj expenses. This year’s Haj quota for Pakistan is 179,210, divided equally between government and private sector. Children under the age of 12 will not be allowed to travel for Haj.

The “Road to Makkah” facility will be available at Islamabad and Karachi airports. Haj group organisers will sign service provider agreements with the ministry of religious affairs, and these organisers will be closely monitored for provision of services.

Published in Dawn, November 14th, 2024

An indefinable musical by a French auteur is headed for millions of streaming subscribers. Most of them will be entirely unprepared.

The Penguin is in pretty good company.

And both Sydney Sweeney and Zendaya will be there, even if they don’t seem thrilled.

Director Jeff Fowler wants to remind fans that Shadow is more than a gun-toting speedster.