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Gold rates dip by Rs 400 to Rs 222,400 per tola

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ISLAMABAD, Aug 11 (APP): The per tola price of 24 karat gold decreased by Rs 400 and was sold at Rs 222,400 on Friday compared to its sale at Rs 222,800 on the previous day.

The price of 10 grams of 24 karat gold also decreased by Rs 343 to Rs 190,672 from Rs 191,015 whereas the price of 10 grams 22 Karat gold declined to Rs 174,783 from Rs 175,097, All Sindh Sarafa Jewellers Association reported.

The price of per tola and ten-gram silver remained constant at Rs 2750 and Rs 2357.68 respectively.

The price of gold in the international market decreased by $4 to $1,918 from $ 1,922, the association reported.

PSX turns around, gains 616 points

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ISLAMABAD, Aug 11 (APP): The 100-index of the Pakistan Stock Exchange (PSX) turned around to bullish trend on Friday, gaining 616.06 points, a positive change of 1.29 per cent, closing at 48,424.40 points against 47,808.34 points the previous trading day.

A total of 368,334,990 shares were traded during the day as compared to 322,207,162 shares the previous day, whereas the price of shares stood at Rs17.063 billion against Rs 12.757 billion on the last trading day.

As many as 331 companies transacted their shares in the stock market; 207of them recorded gains and 101 sustained losses, whereas the share price of 23 companies remained unchanged.

The three top-trading companies were K-Electric Ltd with 53,872,599 shares at Rs 2.16 per share; Oil and Gas Dev with 22,570,520 shares at Rs.103.47 per share and Lalpir Power with 18,636,000 shares at Rs.32.15 per share.

Nestle Pakistan XD witnessed a maximum increase of Rs 85.85 per share price, closing at Rs 7,181.00, whereas the runner-up was Mari Petroleum with an Rs 27.90 rise in its per share price to Rs 1,636.21.

Reliance Cotton witnessed a maximum decrease of Rs 37.50 per share closing at Rs 462.50; followed by Bata (Pak) with Rs 10.00 decline to close at Rs 1,725.00.

Pakistan High Commissioner in London commends minorities’ role in nation-building

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ISLAMABAD, Aug 11 (APP):The Pakistan High Commission in London Dr Mohammad Faisal commemorated ‘National Minorities Day’ on Thursday to honour the vital contributions of Pakistani minority communities in nation building.

The event celebrated Pakistan’s diversity on Minorities Day, coinciding with August 11th annually, according to a press release received here on Friday.

Sir Anwar Parvaiz, Dr. James Shera, Representatives of the Church of England, members of Pakistani minority communities in the UK and individuals from diverse backgrounds attended the event.

High Commissioner Dr. Mohammad Faisal, in his address, highlighted the significant role played by the minorities in shaping the nation. He paid homage to historical figures from various faiths who have contributed to Pakistan’s development. Drawing from Quaid-e-Azam’s historic speech, Dr. Faisal emphasized a progressive Pakistan with equal rights for all citizens, regardless of caste or creed.

On this occasion, the High Commissioner also reflected on the symbolic importance of the Kartarpur Sahib Corridor, as a pathway to interfaith understanding and regional harmony. In this regard, he highlighted government initiatives, including the Pakistan National Commission for Minorities, job quotas for minorities, and reserved legislative seats.

The speakers commended the pivotal role played by minorities in the inception of Pakistan, as well as its ongoing journey of progress and development. They emphasized the profound importance of embracing diversity and promoting inclusiveness as a driving force behind the nation’s socio-economic progress. Reflecting the vision of the Quaid-i-Azam, the speakers underscored the imperative of ensuring equal rights for all citizens as a cornerstone for national development.

Esther Das gave a roundup of the contributions of important personalities from minorities of Pakistan. The evening concluded with performances by British Pakistani minority singers, fostering unity and patriotism.

ISRA University officials hoist the national flag to celebrate Independence Day celebration

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ISRA University officials hoist the national flag to celebrate Independence Day celebration
APP12-110823 HYDERABAD
ISRA University officials hoist the national flag to celebrate Independence Day celebration
APP13-110823 HYDERABAD

China’s Huawei announce 2023 H1 business results

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BEIJING, Aug. 11 (APP): China’s telecommunication giant Huawei announced its business results for the first half of 2023 in Shenzhen, China on Friday. Overall performance was in line with forecast.

In first half of the year 2023, Huawei generated CNY310.9 billion in revenue, with a year-on-year increase of 3.1% and a net profit margin of 15.0%.

The company’s ICT infrastructure business contributed CNY167.2 billion, its consumer business CNY103.5 billion, its cloud business CNY24.1 billion, its digital power business CNY24.2 billion, and its intelligent automotive solution (IAS) business CNY1 billion.

“I’d like to thank our customers and partners for their ongoing support,” said Sabrina Meng, Huawei’s Rotating Chairwoman.

“I’d also like to thank the entire Huawei team for its solidarity and dedication. Huawei has been investing heavily in foundational technologies to harness trends in digitalization, intelligence, and decarbonization, focusing on creating value for our customers and partners. In the first half of 2023, our ICT infrastructure business remained solid and our consumer business achieved growth. Our digital power and cloud businesses both experienced strong growth, and our new components for intelligent connected vehicles continue to gain competitiveness.”

Pak-Chinese companies sign agreement for cultivating red chilies

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ISLAMABAD, Aug 11 (APP): Litong Group, a leading company of China on Friday signed a memorandum of understanding (MoU) with Guard Agriculture Research and Services (GARS) for the cultivation of red chilies in Pakistan and subsequently its export to China under the China-Pakistan Economic Corridor (CPEC) framework.

Chen Changwei, Chairman Litong and Chief Executive Officer of GARS, Shahzad Ali Malik signed the MoU on behalf of their respective companies, said a news release issued here.

Shahzad Ali Malik said that the criteria for selecting seed production land shall consider the underlined factors such as long-term feasibility, land and water availability.

He said that in a phased program, a total of 200,000 acres of land would be brought under chilli cultivation.

He said that joint efforts would be made to promote chili seed breeding, chili crop production and research with a focus on developing high-quality chili seeds, suitable for the local agricultural conditions and crop production for Litong as per requirement.

Shahzad Ali Malik said it will boost chilli export to China and improve the profitability of chilli growers, adding that Pak-China collaboration in the field of agriculture would be further fortified in the days to come and GARS had over three decades good working relationship with Longping, one of the Chinese pioneer company for first time evolving hybrid rice seed in Pakistan.

He said the GARS along with Litong and Longping are also exhibiting together at International Food and Agriculture Expo at Karachi.

Pak-China joint lab for ecosystem restoration, sustainable development inaugurated

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BEIJING, Aug. 11 (APP): The lab for ecosystem restoration and sustainable development jointly built by University of Agriculture, Fasailabad (UAF) and Shenyang Normal University, China was inaugurated last week.

The two sides expect to carry out some innovative projects and research programs together under the lab, according to Iqrar Ahmad Khan, Vice Chancellor of UAF.

” In Pakistan, land degradation has been eroding agricultural output. We look forward to green technology to addressing this problem,” Dr. Abid Ali of UAF told China Economic Net.

In addition to joint research and publication, student and faculty exchange is also part of the cooperation. On the inauguration ceremony, five representatives from UAF, namely, professor of horticulture Dr. Muhammad Jafar Jaskani, professors of entomology Dr. Muhammad Jalal Arif and Dr. Abid Ali, professor of botany Dr. Muhammad Saqib, and professor of agronomy Dr. Zeeshan Ahmed were engaged as visiting professors of Shenyang Normal University.

In Pakistan, Two third of the rapidly increasing population depends on drylands to support their livelihood mainly by engaging in agro-pastoral activities. Within the vast arid and semi-arid areas which takes over 70% of national land area, all have been affected by land degradation.

According to Remote Sensing study, the land degradation in Pakistan is mainly due to vegetation loss and withdrawal of agriculture, accounting for 53.78% and 40.07% respectively.

This is particular acute in the transition area from northern mountainous area to central and eastern plain and the Indus River Basin, where the intensification of human activities also plays a role.

From 2001 to 2020, Pakistan’s land degradation area reached 17,550.07km2. The problem becomes even more severe after the biblical floods last year which destroyed 4m acres of crops nationwide and caused $3.18bn damages to the agriculture sector, leaving impact to be felt for years.

Experts suggest that effective land use methods be formulated to protect the ecological environment and vegetation, improve the productivity of cropland, optimize the use of cropland resources, and reasonably reclaim cropland to realize “Land Degradation Neutrality” and sustainable development of land resources in Pakistan.

Nation to celebrate Independence Day with traditional zeal, national spirit

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ISLAMABAD, Aug 11 (APP): The nation will celebrate the 76th Independence Day on August 14 (Monday) with traditional zeal and enthusiasm through a number of activities to highlight the struggle of forefathers and national heroes for acquiring a separate homeland.

Different public and private departments will hold special functions and activities, including seminars, discussion programmes, photographic exhibitions, painting, poetry, national songs and debate competitions with the focus on acknowledging the contribution of leaders of the Pakistan Movement and sacrifices of national heroes.

Similarly, private and public educational institutions will also hold different activities, including quiz and speech competitions, functions and sessions to educate the students about the historical struggle for the creation of Pakistan.

Overseas Pakistanis living around the world will also celebrate the Independence Day with equal fervour and passion. They will also organize cultural events, flag hoisting ceremonies, and rallies to show their love and loyalty for the homeland.

The significance of Independence Day goes beyond the celebration of national pride and patriotism. It is a day to remember the struggles and sacrifices of forefathers who fought for our independence. It is also a reminder of the responsibility we as a nation have to preserve and protect our independence by working towards the progress and prosperity of our nation.

The Independence Day of Pakistan is a day of great historical significance and national pride. It serves as a reminder of the sacrifices made by forefathers for the independence of beloved homeland.

The federal capital has already turned into green and white colours with a large number of Jashan-i-Azadi stalls carrying dresses, flags, bunting, pin badges, toys and other decorative accessories to attract the youngsters and children.

Since the Independence Day celebrations have become a sort of a festival in the country, different brands, online retailers, eateries, cab-hailing services and even electronics companies are offering exciting discount offers, adding more charm to the festivity.

Special prayers will be offered in mosques at dawn for peace, solidarity and prosperity of the country. The day will dawn with special prayers and a 31-gun salute in the federal capital and 21-gun salutes in all provincial capitals.

There will be a dramatic pause throughout the country with sounding of sirens to herald the flag hoisting ceremony at 9 a.m.

All the major roads and avenues of the federal capital, like other cities, have been decorated with flags, banners and buntings to present a festive look. The major public and private buildings in the city will also be illuminated to mark this important occasion.

The print and electronic media will highlight the services of Pakistan Movement heroes on the day and pay tributes to their extraordinary contributions for making Pakistan a reality. Literary and cultural organizations have chalked out a number of programmes to mark the day.

Pakistan Independence Day is a day of great significance for people of Pakistan. It is a day to celebrate the country’s freedom and honor the sacrifices made by its founding fathers.

The day is marked with patriotic fervour, showcasing the country’s rich culture, traditions, and achievements. It is a day to renew commitment to the country’s ideals and work towards making Pakistan a prosperous and peaceful nation.