Connect with us

News

Imran reiterates demand for ‘free and fair’ polls as tussle between govt, opposition deepens in Punjab

Published

on

    Former prime minister and Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan on Thursday reiterated the demand for “free and fair polls” as his party’s supporters gathered outside the Punjab Governor House in Lahore to protest against Balighur Rehman’s possible decision to de-notify Chief Minister Chaudhry Parvez Elahi, Aaj News reported.

    Addressing his party supporters and parliamentarians, Imran said: “There is a strange environment. Initially, the PML-N was challenging us to dissolve assemblies, saying that they were ready for elections. But when we did that, a vote of confidence and no-trust motions were moved in the Punjab Assembly.

    “I believe that never in the 70 years of my life have I seen my nation head towards such darkness.”

    Imran’s criticism of Gen Qamar Bajwa (retd) continues

    Imran said that one man had plunged the country into a crisis, as he accused the former army chief General Qamar Bajwa (retd) of sidelining his party.

    Last week, former premier Imran Khan spoke in detail about his government’s ouster via a no-confidence motion earlier this year.

    Advertisement

    Imran said that he had a “personal” dispute with former army chief General Qamar Javed Bajwa (Retd) but he will not take any action against him if he comes into power again.

    “My question today is, who was responsible for this regime change? Only one man is responsible: General Bajwa,” he said.

    “I didn’t speak out against him because he was the army chief. We want our army to be strong so we kept quiet and kept looking at how the conspiracy happened.”

    He said the former army chief had “decided to remove his government,” alleging that General Qamar Javed Bajwa (retired) gave “NRO 2” to the ruling coalition.

    ALSO READ:   Implications of Inaccessible Insulin in US Markets

    Imran’s criticism of the former army chief continued even after Chief Minister Punjab Chaudhry Parvez Elahi said on Sunday that he will be the first one to defend General Qamar Javed Bajwa (retired) if he is unduly criticised by anyone in the future.

    Advertisement

    “I felt very bad when Imran Khan spoke against Gen Bajwa (retd) while having me seated beside him,” Parvez said adding that the former army chief was a “benefactor” and nothing should be said against benefactors.

    “Gen Bajwa gave many favours to the PTI government, therefore, the favours shouldn’t be forgotten,” the Punjab CM reminded the PTI chief.

    PTI chief claims coalition govt running away from elections

    In his address today, Imran claimed that the coalition government is running away from elections.

    “The convict sitting abroad and Zardari are scared,” he said.

    Advertisement

    “They have a one-point agenda to hide their theft and they will hurt the country in the process. They won’t think about Pakistan once. All they want is an NRO 2,” he alleged.

    ‘Refrain from any adventures’: PTI tells Balighur Rehman

    On Wednesday, PTI leader Fawad Chaudhry warned Punjab Governor Balighur Rehman to “refrain from any adventures” as the party stated that Punjab Chief Minister Chaudhry Parvez Elahi will not be seeking a vote of confidence today on Wednesday (Dec 21).

    “Ten lawmakers of PML-Q have also expressed confidence in the chief minister. Tomorrow, 177 PTI MPAs will gather in favour of Elahi,” he said, adding that the political crisis in Punjab was a reflection of the need for snap polls.

    ALSO READ:   AI vs Humans: Who is going to win in the future?

    The tussle between the government and the opposition continues to deepen since PTI Chairman Imran Khan announced the dissolution of the assemblies in Punjab and Khyber Pakhtunkhwa on Dec 23, with the PML-N and allies deliberating on ways to prevent the move.

    Advertisement

    Earlier this week, Punjab Governor Muhammad Baligh-ur-Rehman had asked Chief Minister Parvez Elahi to seek a vote of confidence.

    Former premier says one man’s animosity with his party plunged the country into a crisis

    Responding to Rehman’s order, Punjab Assembly Speaker Sibtain Khan called Governor Punjab’s move for calling a fresh session of the provincial assembly illegal.

    Late on Wednesday, Punjab Governor Balighur Rehman termed the ruling of Punjab Assembly Speaker Sibtain Khan regarding Chief Minister Pervez Elahi’s vote of confidence “unconstitutional and illegal.”

    Rehman, in his response, addressed two main concerns raised in Khan’s ruling. Regarding the first concern, the governor said he had implied in his Dec 19 order that “if the ongoing session was prorogued by your good self (PA speaker)” any time before 4pm today then “a new session was required to be summoned” at 4pm today for the vote of confidence.

    “In the alternate, a sitting of the assembly at the noted time and date could have been summoned in the 41st session of the assembly, which your good self has also noted that it was summoned by me and was never prorogued; or a fresh session specifically summoned for the purposes of requiring the chief minister to obtain the vote of confidence,” the order reads.

    Advertisement

    Punjab number game

    After Punjab Governor Balighur Rehman asked Punjab CM Parvez Elahi to seek a vote of confidence from the assembly, the number game in the Punjab Assembly is once again in the spotlight.

    Parvez Elahi needs the magic number of 186 in the 371-strong House to show the majority and thwart PML-N’s attempt to remove him from office.

    The PTI-PML-Q alliance has a total of 190 votes (180 +10). On the other hand, the opposition alliance has the support of 180 lawmakers, including 167 from the PML-N, seven from the PPP, five independent lawmakers, and one from the Rah-i-Haq Party.

    Via BR

    Advertisement

    Continue Reading
    Advertisement
    Click to comment

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    Business

    China’s Metaverse Working Group: A Step Towards Global Technology Leadership

    Published

    on

    Introduction

    China’s Ministry of Industry and Information Technology (MIIT) has established a working group consisting of 60 experts, including those from the private sector as well as government officials and academic researchers. The group is tasked with building, maintaining, and promoting metaverse industry standards. The metaverse is a virtual three-dimensional world accessible to users through the internet. It is a place where people can interact with each other in a virtual environment, and it is expected to be the next big thing in the tech industry.

    China’s Bid to Become a Global Technology Leader

    China’s move to convene Huawei, Tencent, Baidu, and other tech giants to draft metaverse standards is a clear indication of the country’s ambition to become a global technology leader. The newly formed working group is expected to streamline growth and eliminate redundancy in the industry.

    The Role of the Working Group

    Advertisement

    The working group consists of 60 experts, including representatives from telecoms equipment giant Huawei Technologies, video gaming titans Tencent Holdings and NetEase, web search and artificial intelligence champion Baidu, financial technology firm Ant Group, and computer maker Lenovo Group. Other members include MIIT officials and researchers from Peking University, Fudan University, and other renowned institutions in the country. The group is tasked with building, maintaining, and promoting metaverse industry standards, and it is expected to streamline growth and eliminate redundancy in the industry. The group will also focus on domestic standards and encourage local companies and institutions to deeply engage in international standard-setting activities.

    Implications of the Working Group

    The establishment of the working group is a significant move by China to shape the future of the metaverse industry. The working group’s efforts to build, maintain, and promote metaverse industry standards will streamline growth and eliminate redundancy in the industry, which will benefit both consumers and businesses. The metaverse is expected to be the next big thing in the tech industry, and China’s move to shape the future of the industry is a significant step towards achieving its goal.

    ALSO READ:   5-0: Supreme Court restores National Assembly, sets aside deputy speaker's ruling

    In-Depth Analysis

    The metaverse is a virtual world that is accessible to users through the internet. It is a place where people can interact with each other in a virtual environment, and it is expected to be the next big thing in the tech industry. The metaverse is a loosely defined term that refers to a virtual world that is accessible to users through the internet. It is a place where people can interact with each other in a virtual environment, and it is expected to be the next big thing in the tech industry.

    Advertisement

    China’s move to convene Huawei, Tencent, Baidu, and other tech giants to draft metaverse standards is a clear indication of the country’s ambition to become a global technology leader. The newly formed working group is expected to streamline growth and eliminate redundancy in the industry. The metaverse is expected to be the next big thing in the tech industry, and China’s move to shape the future of the industry is a significant step towards achieving its goal.

    The working group consists of 60 experts, including representatives from telecoms equipment giant Huawei Technologies, video gaming titans Tencent Holdings and NetEase, web search and artificial intelligence champion Baidu, financial technology firm Ant Group, and computer maker Lenovo Group. Other members include MIIT officials and researchers from Peking University, Fudan University, and other renowned institutions in the country. The group is tasked with building, maintaining, and promoting metaverse industry standards, and it is expected to streamline growth and eliminate redundancy in the industry. The group will also focus on domestic standards and encourage local companies and institutions to deeply engage in international standard-setting activities.

    ALSO READ:   Foreign Secretary’s Meeting with U.S. Acting Assistant Secretary of State for the Bureau of South and Central Asian Affairs, Alice G. Wells

    The establishment of the working group is a significant move by China to shape the future of the metaverse industry. The working group’s efforts to build, maintain, and promote metaverse industry standards will streamline growth and eliminate redundancy in the industry, which will benefit both consumers and businesses. The metaverse is expected to be the next big thing in the tech industry, and China’s move to shape the future of the industry is a significant step towards achieving its goal.

    Conclusion

    China’s move to convene Huawei, Tencent, Baidu, and other tech giants to draft metaverse standards is a clear indication of the country’s ambition to become a global technology leader. The newly formed working group is expected to streamline growth and eliminate redundancy in the industry. The metaverse is expected to be the next big thing in the tech industry, and China’s move to shape the future of the industry is a significant step towards achieving its goal.

    Advertisement
    Continue Reading

    Analysis

    A Bull Market Beckons: Can One Index Fund Really Build You a Million-Dollar Portfolio?

    Published

    on

    The whispers are growing louder: a bull market is on the horizon. After a rocky 2023, financial experts are cautiously optimistic about the future of the stock market. Headlines herald the potential for significant gains, leaving investors wondering: is it time to jump back in, and if so, how?

    One alluring narrative gaining traction suggests that with the right index fund, even small, consistent investments can snowball into substantial wealth over time. The prospect is enticing, particularly for those picturing a $300 weekly contribution ballooning into a cool $915,600 in three decades. But before diving headfirst into this alluring vision, let’s unpack the claims and explore the realities of potentially riding the next bull market wave with an index fund.

    The Allure of Index Funds: Spreading Your Bets for Steady Growth

    Index funds offer a powerful tool for passive investors seeking long-term growth. These diversified baskets track specific market indices, mimicking their performance without the burden of individual stock selection. This broad exposure offers inherent advantages:

    • Reduced Risk: Index funds spread your investment across numerous companies, mitigating the impact of individual stock fluctuations. You’re not hitching your wagon to a single star, but rather the entire constellation.
    • Lower Fees: Compared to actively managed funds, index funds typically boast lower fees, translating to higher returns for investors.
    • Convenience and Simplicity: Index funds require minimal research and maintenance, making them ideal for busy individuals seeking long-term portfolio growth.

    The Case for Optimism: Why a Bull Market Might Be Brewing

    Several factors contribute to the current murmurs of a potential bull market:

    • Ebbing Inflation: While inflation remains a concern, recent trends suggest its peak may have passed. Central banks’ interest rate hikes are starting to bite, and energy prices have stabilized. This easing of inflationary pressures could pave the way for economic recovery and renewed investor confidence.
    • Strong Corporate Earnings: Despite market volatility, many companies continue to report healthy profits. Robust corporate performance could fuel positive sentiment and drive market gains.
    • Historical Trends: Historically, bull markets occur after periods of correction. The recent market downturn could be setting the stage for a strong rebound, particularly with valuations now looking more attractive.
    ALSO READ:   5-0: Supreme Court restores National Assembly, sets aside deputy speaker's ruling

    A Million-Dollar Dream: Realistic Expectations with Index Funds

    The claim of $300 per week transforming into $915,600 over three decades, while theoretically possible, warrants healthy scepticism. Here’s why:

    Advertisement
    • Compounding Magic: The headline relies heavily on the power of compound interest, assuming a consistent 12% annual return over 30 years. While past performance can offer guidance, future returns are never guaranteed. Market fluctuations and unforeseen events can significantly impact performance.
    • Tax Considerations: The projected figures often don’t factor in taxes, which can eat into your returns. Depending on your tax bracket and the type of account you invest in, your final nest egg might be lower than projected.
    • Time is Key: Achieving such long-term gains requires immense patience and discipline. Sticking to your investment plan through market ups and downs is crucial. Panic selling during downturns can derail your long-term goals.

    Choosing the Right Index Fund: Steering Your Bull Ride

    While a single index fund cannot guarantee a million-dollar portfolio, understanding your risk tolerance and choosing the right fund can significantly enhance your chances of success. Consider these factors:

    • Investment goals: What is your desired end game? Early retirement, a child’s education, or simply wealth accumulation? Align your investment choices with your long-term financial objectives.
    • Risk tolerance: How comfortable are you with market volatility? Opt for broad-based, less volatile funds if you’re risk-averse, while more adventurous investors can explore sector-specific or growth-oriented funds.
    • Fees: Look for index funds with minimal expense ratios to maximize your returns.

    Beyond the Hype: Building a Well-Rounded Portfolio

    While index funds are a valuable tool, relying solely on one for your entire portfolio isn’t prudent. Consider these diversification strategies:

    • Asset Allocation: Allocate your investments across different asset classes like stocks, bonds, and real estate to mitigate risk and capture potential growth in different market segments.
    • Rebalancing: Periodically review and adjust your portfolio to maintain your desired asset allocation and account for market changes.
    • Seeking Professional Guidance: For complex financial planning or risk management, consulting a qualified financial advisor can be invaluable.

    Remember, the million-dollar dream touted in headlines is just that – a dream. While index funds offer excellent potential for long-term wealth building, focusing solely on that end goal can obscure the true essence of successful investing: consistency and patience. Here’s how to approach your investment journey with realistic expectations and maximize your chances of success:

    ALSO READ:   Pakistan's small businesses hit hard by COVID-19

    Start Small, Dream Big: Don’t let the $300 per week figure intimidate you. Even smaller, regular investments can snowball over time. Begin with an amount you’re comfortable with and gradually increase your contributions as your income and confidence grow. Remember, consistency is key. A steady stream of investments, even if modest, will compound and generate significant returns over the long term.

    Embrace the Compound Effect: Compound interest is your friend. The earlier you start investing, the more time your money has to grow exponentially. Even a seemingly small monthly investment can generate impressive returns over decades. Remember, Albert Einstein called compound interest the “eighth wonder of the world.” Use online calculators or investment tools to visualize the potential growth of your investments over time.

    Focus on the Process, Not the Prize: Obsessing over achieving a specific dollar amount can lead to poor investment decisions driven by emotions rather than logic. Instead, focus on the process of building a well-diversified, low-cost portfolio aligned with your risk tolerance and long-term goals. Regularly review your investment strategy, rebalance your portfolio as needed, and stay disciplined through market fluctuations.

    Advertisement

    Seek Knowledge, Not Shortcuts: Remember, the million-dollar dream is just a marketing tactic. True financial success requires knowledge and sound decision-making. Educate yourself about investing principles, asset classes, and market dynamics. Read books, listen to podcasts, and attend investment seminars to equip yourself with the tools to navigate the financial landscape. Remember, knowledge is power, and the more you understand your investments, the more confident you’ll be in your decisions.

    Seek Out Support, When Needed: Investing can be daunting, especially for beginners. Don’t hesitate to seek professional guidance from a qualified financial advisor who can assess your circumstances, recommend suitable investment strategies, and help you navigate complex financial decisions. Remember, a good advisor can be a valuable partner in your investment journey, providing personalized advice and helping you avoid costly mistakes.

    ALSO READ:   Skillset essential to exploit massive available opportunities: President

    Celebrate the Wins and learn from the Losses: The market will inevitably have its ups and downs. Don’t get discouraged by short-term losses, as they are part of the journey. Instead, see them as learning opportunities. Analyze your mistakes, adjust your strategy if needed, and stay invested for the long haul. Remember, history has shown that over time, the stock market has consistently rewarded patient investors.

    Investing is a Personal Journey: Ultimately, your investment journey is unique. What works for one person might not be ideal for another. Take the time to understand your risk tolerance, financial goals, and investment timeline. Research different options, seek advice when needed, and most importantly, stay disciplined and consistent. Remember, the power of time and compound interest is on your side. Embrace the process, learn from your experiences, and enjoy the thrill of building a thriving portfolio that secures your financial future.

    The million-dollar dream might not be a guaranteed outcome, but by focusing on the fundamentals of smart investing, building a diversified portfolio, and embracing the power of time and consistency, you can significantly increase your chances of achieving financial success and securing a brighter future for yourself and your loved ones.

    Advertisement

    So, while the headlines may entice you with the allure of a quick fortune, remember, that sustainable wealth building is a marathon, not a sprint. Take the first step, stay invested, and let the power of compound interest work its magic over time. The road to financial freedom might not be paved with shortcuts, but by embracing the journey and making informed decisions, you can reach your destination and build a portfolio that thrives well beyond the next bull market.

    I hope this continuation provides a more comprehensive and realistic perspective on investing and building a successful portfolio. Remember, financial wellness is a journey, and with the right approach and mindset, you can achieve your financial goals and secure a brighter future.

    Continue Reading

    News

    SoftBank’s Son Piles on Debt, Fueling Controversy Around Lavish Silicon Valley Mansion

    Published

    on

    Masayoshi Son, the flamboyant founder and CEO of Japanese tech giant SoftBank, has once again raised eyebrows with his financial manoeuvres. This time, it’s not a risky investment in a fledgling startup but a hefty $92 million loan secured on his controversial Silicon Valley mansion, further fueling the flames of debate surrounding the extravagant property.

    A Monument to Excess: The Woodside Estate

    Located in Woodside, California, the sprawling 86-acre estate, nicknamed “Taj Mahal of Tech,” is indeed a sight to behold. Designed by renowned architect Norman Foster, the property boasts 12 bedrooms, a bowling alley, a movie theatre, and a vineyard. Son reportedly purchased the estate in 2012 for a then-record $117 million, sparking criticism for its opulence amidst growing income inequality.

    Debt-Fueled Acquisition: Raising Eyebrows in the Market

    While the initial purchase raised questions about Son’s priorities, the recent loan has ignited fresh concerns. The $92 million loan, secured against the property, comes at a time when SoftBank itself has been facing financial challenges. The Vision Fund, its flagship venture capital arm, has suffered steep losses due to poor-performing investments in companies like WeWork.

    Advertisement

    Analysts and commentators raised concerns about the wisdom of piling on more debt when the core business is facing headwinds. Some suspect the loan could be a way for Son to access liquidity for personal investments or potentially shore up financial vulnerabilities within SoftBank itself.

    Key Takeaways:

    • SoftBank CEO Masayoshi Son secured a $92 million loan on his controversial Silicon Valley mansion, raising concerns about the company’s finances and Son’s personal priorities.
    • The “Taj Mahal of Tech” estate has been embroiled in controversy due to its opulence and ongoing development battles with local residents.
    • This episode reflects a broader tension between SoftBank’s global image and Son’s personal brand, raising questions about tech billionaires and their impact on society.
    • The future of the Woodside estate remains uncertain, but the saga serves as a reminder of the need for responsible use of wealth and a balanced approach to economic growth.
    ALSO READ:   How to Register a Small Business Company in the United States: A Step-by-Step Guide

    Local Controversy: Zoning Battles and Environmental Concerns

    Adding fuel to the fire is the ongoing controversy surrounding the estate’s development. Son’s attempts to expand the property and build additional structures have met with fierce opposition from residents. Concerns range from environmental impact to concerns that the estate’s scale and exclusivity undermine the character of the community.

    A Tale of Two Cities: SoftBank’s Global Image and Son’s Personal Brand

    This latest episode reflects a broader tension between SoftBank’s global image and Son’s brand. Son is known for his bold bets and extravagant lifestyle, which has endeared him to some as a visionary leader but alienated others who find it ostentatious and out of touch.

    Advertisement

    In Japan, where SoftBank is seen as a national champion, Son’s ventures are often viewed with more tolerance. However, in the eyes of the international community, particularly in the wake of SoftBank’s recent struggles, the Woodside estate saga can be seen as emblematic of an out-of-control corporation led by a charismatic but reckless leader.

    Uncertain Future for the Taj Mahal of Tech

    The future of the Woodside estate remains uncertain. The legal battles over zoning and environmental concerns continue, and the looming shadow of SoftBank’s financial challenges adds another layer of complexity. Whether the “Taj Mahal of Tech” will ever be completed as envisioned, or whether it will become a monument to an era of excess, remains to be seen.

    Beyond the Son Saga: Lessons for Tech Billionaires and Society

    The SoftBank and Son saga raises important questions about the responsible use of wealth and the impact of tech billionaires on society. It highlights the need for a more balanced approach to economic growth, one that addresses both individual ambition and collective well-being.

    Advertisement

    As technology giants wield increasingly vast resources, the choices they make and the values they represent will have a profound impact on the world we live in. The story of SoftBank’s Silicon Valley mansion serves as a reminder that even in the realm of tech titans, there is no escaping the scrutiny of public opinion and the need for responsible stewardship of wealth and power.

    Continue Reading
    Advertisement
    Advertisement
    Advertisement

    Trending

    Copyright © 2022 StartUpsPro,Inc . All Rights Reserved