SNE NETWORK.INTERNATIONAL DESK.
Republican candidate Trump’s victory in the US presidential elections can adversely affect India’s IT sector. According to a report by investment and wealth management firm PhillipCapital, Trump’s victory may lead to stricter work visa rules, which will pose challenges for Indian IT firms. However, the report said that Trump’s victory can benefit India’s defense, energy, automobile and commodities sectors.
FATF: Proposal to put Russia on ‘black list’ rejected
Ukraine’s proposal to put Russia on the International Financial Crimes Watch (FATF) black list of countries with weak money laundering compliance was rejected by India, China, Saudi Arabia, Brazil and South Africa. At the FATF meeting held in Paris, Ukraine argued that Russia is facing various sanctions from Western governments due to the invasion of Ukraine in 2022. Russia has close ties with ‘black listed’ countries Iran and North Korea, so it should also be put on the black list.
Lawyers boycott courts in Pakistan
Amid continuing inflation in Pakistan, the All Pakistan Textile Mills Association (APTMA) has demanded a cut in interest rates to boost textile exports. APTMA President Kamran Arshad has called for a 400 basis point cut in interest rates to boost textile exports. He said the current effective interest rate of 10.6 per cent is detrimental to the growth of the industry. Arshad emphasised that despite inflation falling to 6.9 per cent, the interest rate remains at 17.5 per cent, posing serious challenges for the sector. He argued that an immediate reduction in interest rates is essential for economic recovery and job creation, as high borrowing costs are threatening the sustainability of the textile industry. He stressed that low interest rates are essential to boost economic revival and create employment opportunities.
APTMA demands cut in interest rates
On the call of Sindh Bar Council and Karachi Bar Association (KBA), lawyers boycotted legal proceedings in city courts and District Court Malir on Thursday. The action was taken in protest against the police inaction following the harassment of an associate of lawyers. The lawyers blocked all the entrances of the city courts, preventing litigants and judicial officers from entering the premises. As a result, undertrial prisoners were not brought for their hearing.
During the general meeting of KBA, the incident that happened with Advocate Abdul Fatah on October 23 was discussed. It was noted that KBA members went to Mahmoodabad Police Station after the incident, where SHO Aijaz Khattak allegedly connived with the accused and insulted the lawyers. The general meeting was chaired by General Secretary Ikhtiar Ali Channa and conducted by President Ameer Nawaz Waraich.
4 astronauts returned to Earth from International Space Station…Sunita Williams will return in February
After spending about 8 months on the International Space Station, four astronauts returned safely to Earth on Friday. These include NASA’s Michael Barrett, Matthew Dominic, Jeanette Epps and Russian astronaut Alexander Grebenkin. The SpaceX Dragon Endeavor spacecraft carrying them landed in the sea near the Florida coast. All of them were supposed to return two months ago, but there was a delay due to a malfunction in Boeing’s new Starliner space capsule. The mission of two Starliner astronauts, Indian-origin Sunita Williams and Butch Wilmore, has been extended from 8 days to eight months. Both will now return in February.
Maldives wants to restore tourism relations with India
Maldives is trying to restore its tourism relations with India. This was revealed in a report by the government news PSM on Friday. Maldives Tourism Minister Ibrahim Faisal met Indian High Commissioner Munu Mahavar in Male at Baresdhoo and Gadhoo in Laamu Atoll. As India is one of the biggest tourism source markets for Maldives, both sides met to explore possibilities of investment and development in the tourism sector in the island nation. The report said that the initiative to enhance tourism ties between the two countries started during the first bilateral visit of Maldives President Mohammad Muizzu to India. During his visit, Muizzu had expressed hope that now more number of Indian tourists will visit the island nation. India also assured him of friendly relations.
Justice Yahya Afridi becomes new Chief Justice of Pakistan
Justice Yahya Afridi took oath as the new Chief Justice of Pakistan on Saturday. He is the 30th Chief Justice of Pakistan. Yahya Afridi has replaced Justice Qazi Faiz Isa, who retired on Friday. President Asif Ali Zardari administered the oath to the new Chief Justice. During this, Pakistan Prime Minister Shahbaz Sharif, cabinet ministers and senior officials were present. Justice Afridi was nominated by a special parliamentary committee. Recently, after the constitutional amendment, many changes have been made in the judiciary