India becomes the most populous country of the world

India is set to become the world’s most populous country by the end of June, posing huge challenges to a nation with poor infrastructure and insufficient jobs for millions of young people.

The seismic shift will see India’s population hit 1.4286 billion — almost three million more than China’s 1.4257 billion — at mid-year, the United Nations Population Fund’s (UNFPA) State of World Populat­ion 2023 report forecast.

Meanwhile, the latest UN estimates show that Pakistan’s population has reached 240.5 million in 2023, and it has emerged among the eight countries that will account for half the projected growth in global population by 2050.

China has generally been regarded as the world’s most populous country since the fall of the Roman Empire but last year its population shrank for the first time since 1960, while India’s has continued to rise.
According to the Pew Research Centre, the number of people in India has grown by more than one billion since 1950, the year the UN began gathering population data.

Mercedes launched with a price tag of Rs 3.30 crore... only

Mercedes-Benz has launched its most powerful production car ever, the AMG GT 63 S E Performance, in India at a starting price of Rs. 3.30 crore only.

The 4-door coupe is also the luxury automaker’s first plug-in hybrid car, boasting a 4.0-liter twin-turbocharged V8 gasoline engine that generates 630 horsepower and a 201 horsepower electric motor. It offers an all-electric range of 13 kilometres and a combined output of 831 horsepower and 1,470 Newton-meters of torque.

HBL signs agreement for Prime Minister’s Youth Business and Agriculture Loan Scheme

HBL, Damen Support Program, and Thardeep Microfinance Foundation have joined hands to offer interest-free financing to individuals and small businesses under the Prime Minister’s Youth Business and Agriculture Loan Scheme (PMYB&ALS).

Speaking on the occasion, Khaqan Muhammad Khan, Global Head Financial Institutions and Remittance Business – HBL, said, “The Bank is committed to promoting financial inclusion and poverty alleviation. The partnership between HBL, Damen Support Program, and Thardeep Microfinance Foundation under the PMYB&ALS scheme would play a crucial role in uplifting the lives of thousands of people.”

Dr. Sonu Khangharani, CEO – Thardeep Microfinance Foundation, said, “The partnership with HBL will be instrumental in advancing our mission of promoting financial inclusion and will help individuals from marginalized segments of society to realize their entrepreneurial dreams.”

Musharraf Khan, CEO – Damen Support Program, said, “Amidst inflationary pressures, interest-free financing is a boon that small businesses and individual entrepreneurs could take advantage of. The partnership with HBL had previously delivered successful financial inclusion projects and this scheme would provide another opportunity to support small businesses and entrepreneurs in need of financing.”

Saudi FM meets Assad on first trip to Syria since 2011

Syrian President Bashar Al Assad met Saudi Foreign Minister Faisal Bin Farhan in Damascus in April last week, ending more than a decade of diplomatic deep-freeze between the two countries.

The Saudi prince arrived in Damascus on the first visit to Syria’s capital by a Saudi official since the start of the country’s civil war in 2011. Assad has been politically isolated in the region since the conflict began, but a flurry of diplomatic activity has been underway in the past week as regional relations shift following a decision by Saudi Arabia and Iran to resume ties.

The trip comes less than a week after Syrian Foreign Minister Faisal Mekdad visited Saudi Arabia, also on the first such visit since the conflict began. In April, diplomats from nine Arab countries met in Jeddah to discuss ending Syria’s long spell in the diplomatic wilderness and its possible return to the 22-member Arab League after Damascus was suspended in 2011. Saudi Arabia severed ties with Assad’s government in 2012 and Riyadh had long openly championed Assad’s ouster, backing Syrian rebels in earlier stages of the war. Several other Arab countries also cut ties with Syria as some powers bet on Assad’s demise.

Ramazan and Eid Boost Pakistan’s Remittances

Pakistan’s remittances from overseas Pakistanis surged to a seven-month high of $2.5 billion in March, which is an increase of 27% from February, as per the State Bank of Pakistan (SBP). However, the figure was down 11% compared to March 2022. The rise in remittances is attributed to Ramadan and Eid-ul-Fitr, as well as the use of legal channels by non-resident Pakistanis to send money to their families due to the closing gap between interbank and open market rates. Historically, prior to the annual Eid holidays, Pakistanis living abroad send record-high remittances. Experts predict that the inflows will continue to be elevated due to the forthcoming Eid-ul-Adha.

Bangladesh swears in new president

M ohammed Shahabuddin, a former judge and an official of the ruling party Awami League, was sworn in as the president of Bangladesh in April last week. Shahabuddin replaces Abdul Hamid, a former speaker and Awami League stalwart, whose second term expired in April.

Shahabuddin, 73, was an anti-corruption commissioner as well as a Mukti Bahini activist, was sworn in as the 22nd president of the People’s Republic of Bangladesh today,” the presidential palace said. He was elected by lawmakers in February after the ruling party nominated him instead of the speaker of parliament, who had been seen as the favourite. According to the Xinhua, China’s official news agency, Chinese President Xi Jinping sent a message of congratulations to Shahabuddin.

Foreign Ministers Hold Talks

Foreign Ministers from China, Russia, Pakistan, and Iran recently held talks with regard to several issues in the region. The meeting was chaired by Chinese State Councillor and Foreign Minister Qin Gang. During the second formal meeting, the countries came to several agreements, including calling for the U.S. to lift its unilateral sanctions against Afghanistan and appealing to the Afghan authorities to build an inclusive government that protects the interests of all people, including women, children and ethnic minorities.

Foreign minister Qin commended China, Russia, Pakistan and Iran’s joint efforts to ensure the smooth transition of the situation in Afghanistan. He further said that China recently released “The Global Security Initiative Concept Paper” and “China’s Position on the Afghan Issue,” which advocate a spirit of solidarity to adapt to the profoundly adjusted international landscape, a win-win mindset to deal with the complex and intertwined security challenges, and reaffirms a political approach to promote the resolution of international regional hotspot issues such as Afghanistan.

The meeting emphasis on China, Russia, Pakistan and Iran should unite and cooperate to encourage the international community to pay more attention to the security issues related to terrorism in Afghanistan.