The State Bank of Pakistan (SBP) recently issued its guidelines for digital banks for public consultation. The draft guidelines cover both digital retail banks (dealing with retail customers) and full digital banks (offering services to corporate customers). Digital banks can have a profound effect on financial inclusion. If executed properly, the idea can change the customer journey by reducing paperwork, …

During the current fiscal year, Pakistan has made some noticeable economic gains partly — if not entirely — due to the low-base effect of the last fiscal year when the economy shrank 0.4 per cent. Home remittances have surged, exports have started growing, the rupee has gained some of its lost value, forex reserves are up, the large-scale manufacturing output …

BEIJING: Twenty-one people were killed when extremely cold weather struck during an ‘ultramarathon’ in rugged Gansu province in northwestern China, sparking public outrage on Sunday over the lack of contingency planning. The 100-km (62-mile) race began on Saturday from a scenic area at a bend in the Yellow River known for its sheer cliffs and rock columns. The route would …

DUBAI: Two pictures purportedly showing Dubai’s Sheikha Latifa were published on an unverified Instagram account this week, months after the United Nations asked for proof that the royal was still alive. In February, the UN Human Rights Office asked for evidence about the daughter of Dubai’s ruler Sheikh Mohammed bin Rashid Al Maktoum, after the BBC broadcast a video shot by Latifa …

LONDON: Martin Bashir, the BBC journalist who tricked princess Diana into giving an explosive interview, on Sunday apologised to Princes William and Harry, but said claims linking his actions to her death were “unreasonable”. A report by retired senior judge John Dyson published on Thursday found that Bashir commissioned faked bank statements that falsely suggested some of Diana’s closest aides were being …

PARIS/JERUSALEM: French Foreign Minister Jean-Yves Le Drian warned on Sunday of the risk of “long-lasting apartheid” in Israel in the event the Palestinians fail to obtain their own state. Le Drian is one of the first senior French officials to use the term “apartheid” in reference to Israel, which has angrily denied any policy of racial discrimination. The veteran politician …

Youngstown: At least three people were killed and three others wounded in a shooting on Sunday outside a bar in Youngstown, Ohio, police said. Chief Carl Davis of the Youngstown police department said gunfire was reported shortly after 2am in the area of the Torch Club Bar & Grille in Youngstown. Davis said three people were dead of apparent gunshot …

LOS ANGELES: “F9” has the international box office sizzling. The latest installment in Universal’s testosterone-fueled franchise kicked off with a massive $162.4 million in eight markets, including China, South Korea and Hong Kong. Those ticket sales easily mark the best start for a Hollywood blockbuster since Covid-19 hit. It’s an encouraging start to summer movie season, particularly because revenues weren’t …

RIYADH: As the United States scales back its military presence across the Middle East to focus on great power competition with China and Russia, it risks giving those two countries a chance to fill the gap and expand their influence around the Gulf, the top US commander for the region said on Sunday. While traveling through the Middle East over …

YANGON: More than 125,000 school teachers in Myanmar have been suspended by the military authorities for joining a civil disobedience movement to oppose the military coup in February, an official of the Myanmar Teachers’ Federation said. The suspensions have come days before the start of a new school year, which some teachers and parents are boycotting as part of the …