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ISLAMABAD: A Chinese energy expert has warned that the rapid expansion of decentralized solar power in Pakistan is placing additional pressure on the national grid and increasing costs for consumers who cannot afford solar systems. Prof. Dr Yixian Sun from the University of Bath, UK, said Pakistan has spent over USD 10 billion on solar imports without capturing industrial or economic spill-overs. He stated this at the launch ofthe policy report, titled “From Solar Boom to Green Industrialization: Policy Pathways to Localizing Solar Value Chains in Pakistan,” by the Sustainable Development Policy Institute (SDPI) in collaboration with the University of…

KARACHI: Renowned economist Professor Amir Sufi says that as global markets increasingly shift toward high-tech services, including information technology and professional scientific services, the financial sector must undergo a fundamental transformation to keep pace. He was speaking at the 25th Zahid Husain Memorial Lecture hosted by the State Bank of Pakistan (SBP).The lecture series, which honours the transformative legacy of the SBP’s first Governor, Zahid Husain, convened an audience of diplomats, academics, banking industry leaders, business community and the family of the late Governor to discuss the evolution of the financial system in an era of high-tech growth. Professor Amir…

BEIJING/BRUSSELS: China will impose provisional duties of up to 42.7 percent on dairy products imported from the European Union, the latest in a series of measures against EU exports widely seen as retaliation for the bloc’s electric vehicle tariffs. The duties, to be collected from Tuesday, will range from 21.9 percent to 42.7 percent, although most companies will pay just under 30 percent. They target unsweetened milk and cream and fresh and processed cheeses, including the iconic French Roquefort and Camembert. China’s Ministry of Commerce said it had found evidence that EU dairy imports were subsidised and hurting Chinese producers.…

LAHORE: The Small and Medium Enterprises Development Authority (SMEDA) has introduced the SME Registration Portal (SMERP) as a key initiative, aimed at strengthening transparency and enhancing convenience for Small and Medium Enterprises (SMEs). SMERP facilitates online registration of SMEs and issuance of SMEDA SME Size Certificates through a fully digital process with minimal human interaction, ensuring transparency, efficiency, and ease of access for businesses across the country. The portal has been designed to develop a comprehensive and reliable SME database, which will support research, evidence-based policy formulation, and effective alignment of government interventions with the needs of SMEs. To further…

F-16V fighter jets ordered by Taiwan are undergoing ground tests in the United States, as Washington and the American contractor come under pressure to speed up deliveries following criticism of repeated delays.Photos circulating online in recent days showed at least one Taiwan-bound F-16V Block 70 two-seat aircraft during taxi and systems checks at a US airfield, offering the clearest public indication yet that the long-delayed programme had entered a substantive testing phase.Images of the jet bearing the tail number 6831 taxiing at Greenville–Spartanburg International Airport in South Carolina were first posted over the weekend by US-based aviation photography page Owen’s…

Copper prices climbed to a fresh record high on Monday, supported by speculative buying and following news of a zero-fee processing deal involving a Chinese smelter, which underscored mine disruptions and the risk of supply shortages.   Benchmark three-month copper on the London Metal Exchange (LME) rose 0.6% to $11,955 per metric ton by 11:00 GMT, after touching a record high of $11,996.   Copper on the LME has surged about 36% so far this year, driven largely by concerns over mine-related issues that could lead to a supply deficit next year.   Those supply concerns were reinforced on Friday,…

One of Hong Kong’s oldest lenders is stepping up its push into digital finance, teaming up with newly listed digital asset exchange HashKey Exchange to launch a co-branded credit card in the first half of next year.Shanghai Commercial Bank (SCB), which marked its 75th anniversary this year, will partner with HashKey Exchange to issue a Visa credit card exclusively for investors trading on the digital asset platform, according to chief executive Wallace Lam Wing-ted.HashKey, one of 11 licensed virtual asset trading platforms in Hong Kong, raised HK$1.6 billion (US$206 million) in the city’s first crypto-native initial public offering and was…

The Japanese government is floating the idea of requiring anyone applying for permanent residency to have reached a certain standard of Japanese language skills and undergo instruction on how to be a good citizen.Media reports on the proposals from the government and the ruling Liberal Democratic Party have provoked fierce online debate among both Japanese and foreign residents.While many insist it is a fair and reasonable commitment for anyone planning to live in the country long term, others are accusing Sanae Takaichi’s conservative administration of throwing up additional barriers to immigration at a time when Japan requires more workers.“Japan remains…

Copper prices climbed to a fresh record high on Monday, supported by speculative buying and following news of a zero-fee processing deal involving a Chinese smelter, which underscored mine disruptions and the risk of supply shortages.   Benchmark three-month copper on the London Metal Exchange (LME) rose 0.6% to $11,955 per metric ton by 11:00 GMT, after touching a record high of $11,996.   Copper on the LME has surged about 36% so far this year, driven largely by concerns over mine-related issues that could lead to a supply deficit next year.   Those supply concerns were reinforced on Friday,…

Activity in Hong Kong’s ultra-luxury residential market is picking up, with Swire Properties selling two homes in Deep Water Bay for a whopping HK$2.2 billion (US$283 million).The two three-storey units at 6 Deep Water Bay Road had saleable areas of about 9,600 sq ft and 5,300 sq ft, with the transactions set to be completed in the first quarter of 2026, the developer said. Both units were acquired by the same buyer.On a per square foot basis, the deal works out to HK$147,010, “one of the highest achieved in recent years for luxury residential properties in Hong Kong”, according to…