The Pakistan Army intercepted and brought down another Indian spy drone that breached Pakistan’s airspace near the Line of Control (LoC), as reported by the Inter-Services Public Relations (ISPR) on Wednesday. The incident occurred on February 25, 2024, at 12:55 pm local time. Following the interception, the Pakistan Army conducted a search operation and located the pieces of the Indian quadcopter on February 26 within Pakistani territory along the LoC. The drone bore markings indicating it belonged to the Indian Army.

This incident coincides with the fifth anniversary of Operation Swift Retort, a significant event in which Pakistan’s armed forces responded to Indian aggression. On February 27, 2019, Pakistan shot down Indian warplanes that violated Pakistani airspace. During Operation Swift Retort, the Pakistan Air Force showcased its strength by downing Indian aircraft, underscoring Pakistan’s determination and military proficiency in the face of Indian aggression.

In February 2019, Indian fighter jets crossed the Line of Control, purportedly conducting a “surgical strike” in Pakistan. Pakistan’s response, which included the shooting down of an Indian jet and the capture of a pilot, refuted Indian claims of military superiority. While New Delhi asserted that they targeted a terrorist camp, resulting in the deaths of 300-350 individuals, Pakistan disputed these claims, stating that there was no such camp and no casualties. Independent reports, supported by detailed satellite imagery, corroborated Pakistan’s position, debunking Indian assertions.

In a surprising turn, the Pakistan Air Force deployed jets across the border, shooting down an Indian MiG-21 during aerial combat and subsequently capturing the ejected pilot. This event challenged India’s perception of its military prowess, revealing vulnerabilities and casting doubt on its claims of superiority

Fauji Cement Company Limited (PSX: FCCL) has disclosed its financial performance for the first six months of fiscal year 2024. Here’s a breakdown of the key figures:

1. Profit After Tax (PAT): The company achieved a PAT of Rs5.27 billion during this period, resulting in earnings per share (EPS) of Rs2.15. Although profitable, this represents a slight decrease compared to the PAT of Rs5.08 billion (EPS: Rs2.25) reported in the corresponding period last year.
2. Revenue: FCCL witnessed a notable increase in revenue, reaching Rs40.35 billion, up nearly 20% from Rs33.67 billion recorded in the previous year.
3. Cost of Sales: Despite a 17.32% increase in the cost of sales, it did not escalate at the same rate as sales, resulting in a robust 25.59% increase in gross profit, which amounted to Rs12.86 billion.
4. Gross Margins: Gross margins showed a slight improvement, rising to 31.87% from 30.41% in the same period last year.
5. Other Income: Other income experienced a significant surge, reaching Rs199.94 million compared to Rs75.61 million in the previous year.
6. Expenses: Selling and distribution expenses surged by 39.50%, while other expenses rose by 23.42% during this period.
7. Net Finance Cost: The company faced a substantial increase in net finance costs, which rose by 3.15 times compared to the previous year, primarily due to higher interest rates.
8. Taxes: FCCL paid Rs2.82 billion in taxes, marking a 28.17% increase from the amount paid in the corresponding period last year.

Overall, while FCCL demonstrated growth in revenue and gross profit, increased expenses and finance costs impacted the bottom line, resulting in a marginal decline in profitability compared to the previous year.

Fly Jinnah, a prominent airline in Pakistan, is currently hiring cabin crew members. If you’re interested in pursuing a career in aviation and have a passion for customer service, this could be a great opportunity for you.

To apply for a cabin crew position at Fly Jinnah, you typically need to meet certain requirements, including:

1. Minimum age of 18 or older.
2. Height and weight proportional to meet safety requirements.
3. Excellent communication and interpersonal skills.
4. Fluency in English and Urdu; knowledge of additional languages may be an advantage.
5. Customer service experience is preferred.
6. Ability to work flexible hours, including evenings, weekends, and holidays.
7. Strong teamwork skills and the ability to remain calm under pressure.
8. Completion of required training programs and certifications.

If you meet these qualifications and are interested in joining Fly Jinnah as cabin crew, you can typically find information about job openings and application procedures on the airline’s official website or through their human resources department.

Be sure to carefully review the job requirements and application instructions, and submit all necessary documents and information as requested. Good luck with your application

Babar Azam attributed his century to his mother’s presence at the match, considering it a fortunate occurrence as it was her first time attending a game in person. He expressed delight in having his mother in the stands, noting that although she typically watches matches from home, her physical presence acted as a lucky charm, resulting in what he deemed his best hundred.

Azam emphasized the importance of his mother’s support and acknowledged the positive influence it had on his performance during the match. This highlights the significance of familial encouragement and the role it plays in an athlete’s success.

The Honor Magic6 Pro phone introduces a unique feature known as AI-based eye-tracking, enabled by software called GazeSense and powered by the Snapdragon 8 Gen 3 chip. This innovative technology allows the phone to track the user’s eye movements, enabling various functionalities such as zooming in on maps simply by looking at them.

In an intriguing demonstration by James Brighton, a skilled designer in automotive engineering, the potential of the Honor Magic6 Pro’s eye-tracking feature extends to controlling a car. Through the phone’s screen, users can initiate or halt the engine and maneuver the vehicle forwards or backwards by directing their gaze appropriately. This application could prove invaluable in situations such as navigating tight parking spaces.

Presently, the eye-tracking feature is exclusive to China, and the car control demonstration remains experimental. Nonetheless, it serves as a compelling example of how AI can foster seamless integration between mobile devices and automobiles. There is immense potential for AI-driven advancements, which Honor intends to explore further at the upcoming MWC event. During this event, discussions involving guests from Qualcomm and GSMA will delve deeper into the possibilities offered by AI in enhancing the synergy between phones and cars.

Riyadh Air, Saudi Arabia’s newest airline, is gearing up to commence operations in 2025, with its headquarters based in Riyadh. Initially, the airline will concentrate on establishing connections between Riyadh and various cities across Asia, Africa, and Europe. However, by 2030, Riyadh Air aims to expand its network to encompass over 100 destinations worldwide.

With a commitment to modern technology, safety, and environmental sustainability, Riyadh Air aims to set new standards in the airline industry. Passengers can anticipate experiencing the renowned warmth and hospitality characteristic of Saudi Arabia during their flights. The airline has unveiled the design of its planes, incorporating colors inspired by Saudi Arabia’s landscapes and traditional motifs.

Crown Prince Mohammad bin Salman bin Abdulaziz announced the establishment of Riyadh Air in March 2023. The airline is owned by the Public Investment Fund, a sovereign wealth fund of Saudi Arabia. Riyadh Air has been assigned the airline code RX by the International Air Transport Association (IATA).

Daraz Group, an e-commerce company owned by Alibaba, is undergoing operational changes, including layoffs aimed at restructuring for greater efficiency. The exact number of employees affected has not been disclosed, but last year, the company had approximately 3,000 employees worldwide and had to lay off 11% of them due to challenging market conditions. These conditions include factors such as the Ukraine crisis, supply chain disruptions, high inflation, increased taxes, and reduced government support.

The newly appointed acting CEO, James Dong, has emphasized the necessity of these changes to ensure the company’s strength and continued growth. The focus will be on enhancing customer experience by offering a broader range of affordable products and improving the platform’s usability for sellers.

Daraz’s primary markets are Pakistan and Bangladesh. Originating as a fashion retailer online in Pakistan in 2012, Daraz was acquired by Alibaba in 2018. The company’s operations extend beyond online sales to encompass package delivery, payment processing, and financial services. Daraz boasts millions of shoppers, thousands of sellers, and a diverse array of brands on its platform.

The Board of Directors of The Bank of Punjab (BOP) met on February 20, 2024, to review and approve the Bank’s annual audited Financial Statements for the year ended December 31, 2023. Despite facing challenges within the macroeconomic environment, the Management team received commendation for delivering outstanding results that were in line with the Bank’s strategic business plan. These results earned recognition from various stakeholders and market evaluators.

Throughout 2023, The Bank of Punjab received several local and international awards, highlighting its commitment to excellence and innovation in the banking sector:

1. EFP Disability Inclusion Excellence Award: Recognized for fostering a workplace culture of inclusivity.
2. Employer of Choice Award: Acknowledged as a top employer for gender diversity among Pakistan’s leading corporations.
3. SBP’s Banking on Equality Rating: Ranked number one in Pakistan for promoting gender equality in banking.
4. MasterCard Market Leader in the New Segment Award: Recognized for leadership in a new market segment.
5. Best Public Sector Bank for Islamic Retail Banking: Honored for excellence in Islamic retail banking services.
6. Best Bank for Small & Medium Businesses: Awarded twice at the Pakistan Banking Awards for outstanding support to SMEs.
7. MasterCard ‘Driving Contactless In-Transit Payments’ Award: Recognized for innovation in contactless payments.
8. AsiaMoney’s Best Bank for SMEs in Pakistan: Acknowledged for excellence in serving small and medium-sized enterprises.

In addition to receiving accolades, The Bank of Punjab expanded its product and service offerings in 2023, with a focus on strengthening its Islamic banking footprint. This expansion contributed to robust financial growth, with the Bank’s Balance Sheet reaching Rs. 2.2 Trillion, deposits surging to Rs. 1.5 Trillion, and before-tax profit reaching Rs. 21.2 billion.

Key financial metrics included a 33% increase in Net Interest Margin (NIM) and a 67% rise in Non-Markup/Interest Income. Investments and Gross Advances reached Rs. 913.2 billion and Rs. 849.5 billion, respectively, while Equity improved to Rs. 80.8 billion.

Despite economic challenges, The Bank of Punjab enhanced its risk profile and raised capital, resulting in improved Capital Adequacy Ratio (CAR) and Leverage Ratio. The Board proposed a Cash Dividend of 10% for shareholders, reflecting confidence in the Bank’s financial strength.

Furthermore, The Pakistan Credit Rating Agency (PACRA) maintained the Bank’s long-term entity rating at “AA+” and its short-term rating at “A1+,” affirming its robust financial position.

Currently, BOP operates a nationwide network of 815 online branches, including 160 Taqwa Islamic Banking Branches, and provides 24/7 banking services through 794 ATMs and digital banking channels. The Bank plans to continue its branch expansion in 2024, with a focus on Islamic banking services.

The Pakistani government has decided to proceed with the long-delayed gas pipeline project in two phases. Initially, they will lay down 81 kilometers of the pipeline from Gwadar, where Iran has already completed its portion, with plans to later connect it to Nawabshah. This strategy has been approved by the Special Investment Facilitation Council (SIFC). The first step involves laying the 81-kilometer section, followed by the connection to Nawabshah at a later stage.

To execute this plan, the Petroleum Division will seek approval from the federal cabinet, and the finance ministry will secure funds from the Gas Infrastructure Development Cess (GIDC) board. Initially, the 81-kilometer pipeline will supply gas to Gwadar from the IP gas line project.

Iran has granted Pakistan an extension until September 2024, beyond the original 180-day deadline, regarding the completion of their part of the project. Failure to respond positively may lead Iran to pursue international arbitration, potentially resulting in an $18 billion penalty. Nevertheless, Iran has expressed willingness to collaborate with Pakistan to find a mutually beneficial solution before the deadline.

While tensions between the two countries delayed a planned visit by a team of Iranian experts to Pakistan in January, the situation has since normalized. Both nations are now actively cooperating to resolve the outstanding issues. Under the guidance of the SIFC, the Petroleum Division will collaborate with the Ministry of Foreign Affairs to facilitate the visit of the Iranian delegation to Pakistan. Together, they aim to devise a viable plan to ensure the successful completion of the project.

The Islamabad High Court has halted the Election Commission of Pakistan (ECP) from officially announcing the victors of the elections in NA-46, NA-47, and NA-48. This development follows petitions lodged by Amir Mughal, Shoaib Shaheen, and Mohammad Ali Bukhari, who contested as independent candidates with the support of the PTI. They contested the outcomes of the February 8 elections, where their adversaries Anjum Aqeel Khan, Tariq Fazal Chaudhry, and Raja Khurram Shahzad Nawaz were declared triumphant by the ECP. Despite the ECP initially instructing to maintain the status quo, they subsequently issued notices affirming Khan, Chaudhry, and Raja as the successful candidates. In reaction, the court accepted the appeals and temporarily suspended the election results.