Alibaba Group is planning to split into six units and explore fundraisings or listings for most of them, it said on Tuesday, in a major revamp as China vows to ease a sweeping regulatory crackdown and support its private enterprises. The US-listed shares of the Chinese e-commerce conglomerate, which have lost nearly 70% of their value since the curbs were imposed in late 2020, rose more than 14
Pakistan is experiencing frequent and severe climate change-induced natural disasters. The country has a long history of battling droughts and floods. Despite contributing less than 1% of global carbon emissions, the country is still grappling with the effects of climate change. Agriculture is the largest consumer of freshwater in Pakistan, using over 90% of the resource, but mismanagement has
Stocks stayed bullish on Tuesday as investors reacted positively to the surging global crude oil prices as well as the rupee’s stability against the dollar. Analyst Ahsan Mehanti of Arif Habib Corporation said speculations about the early revival of the International Monetary Fund’s loan programme and easing political noise also played the role of a catalyst in the bullish close. However, ma
Saudi Arabia’s cabinet approved on Wednesday a decision to join the Shanghai Cooperation Organisation (SCO), as Riyadh builds a long-term partnership with China despite US security concerns. Saudi Arabia has approved a memorandum on granting the kingdom the status of a dialogue partner in the SCO, said Saudi Press Agency (SPA). The SCO is a political and security union of countries spanning
The European Union (EU) has removed Pakistan from its ‘list of high-risk third-countries’ that have strategic deficiencies in the Anti Money Laundering and Countering the Financing of Terrorism (AML/CFT) regime. Foreign Minister Bilawal Bhutto-Zardari revealed this on Wednesday echoing a similar decision taken by the Financial Action Task Force (FATF) months ago when it removed the country from