DUBAI: Yemen’s Iran-backed Houthi militia claimed responsibility for a missile attack on Tuesday on a container ship in the Red Sea and for an attempt to attack Israel with drones.
MSC Mediterranean Shipping said there were no injuries to its crew from the attack on its ship, the United VIII, en route from Saudi Arabia to Pakistan. It said the ship had informed a nearby coalition naval warship that it had come under attack and had taken evasive maneuvers.
Israel said separately that its aircraft had intercepted a hostile aerial target in the Red Sea area.
Houthi military spokesman Yahya Sarea in a televised address said the group had targeted the vessel, which he identified as the MSC United, after the crew failed to respond to warnings.
He also said the Houthis had carried out a military operation targeting Eilat and other areas in Israel, which he referred to as occupied Palestine. He did not say whether any of the targets were successfully hit.
US fighter jets, a navy destroyer and other assets shot down in the Red Sea 12 drones, three anti-ship ballistic missiles, and two cruise missiles fired by the Houthis, US Central Command said. There was no damage to ships and no reported injuries, it wrote on social media platform X.
The Houthis, who control much of Yemen including the capital, have since October attacked commercial vessels in the Red Sea they say have Israeli links or are sailing to Israel, in solidarity with Palestinians in Gaza.
Britain’s United Kingdom Maritime Trade Operations Authority earlier reported two incidents of explosions in the Red Sea off of the coast of Yemen involving missiles and drones near a vessel. It also said there were no reported injuries.
The reported incidents come a week after the United States announced a multinational maritime security initiative in the Red Sea in response to attacks on vessels by Yemen’s Houthis.
Several shipping lines have suspended operations through the Red Sea waterway in response to the attacks, instead taking the longer journey around Africa.
The Houthis have vowed to continue their attacks until Israel halts the conflict in Gaza, and warned that it would attack US warships if the militia group itself was targeted.
Yemen’s Houthis claim attack on Pakistan-bound container ship in Red Sea
https://arab.news/8atvf
Yemen’s Houthis claim attack on Pakistan-bound container ship in Red Sea
- The group has attacked commercial vessels in the sea since October which it says have Israeli links
- Several shipping lines have suspended operations through the Red Sea in response to the attacks
Huawei trains over 20,000 Pakistani youth in AI, cybersecurity and cloud computing
- Pakistan and Huawei last year signed an agreement to train 300,000 Pakistani youth in advanced information and communication technologies
- Islamabad views ICT as a driver of economic change and seeks to transform the sector into a cornerstone of its strategy for financial stability
ISLAMABAD: Huawei, a leading Chinese multinational corporation and technology company, has trained more than 20,000 Pakistani youngsters in advanced information and communication technology (ICT) skills, Prime Minister Shehbaz Sharif’s office said on Sunday, amid Islamabad’s efforts to develop a more technologically skilled workforce.
These youngsters have been trained under an agreement signed between Pakistan and Huawei last year to train 300,000 Pakistani youth in ICT skills to match international standards.
The Chinese tech firm is providing training to Pakistani youth in artificial intelligence (AI), cybersecurity, cloud computing and other advanced technologies under the initiative.
“Huawei Technologies has trained 20,315 students so far. The program is upskilling students, trainers and those working in ICT technologies,” Sharif’s office said, following his meeting with a Huawei delegation in Lahore on Sunday.
“The master trainers trained by Huawei Technologies will provide training to youth at the local level.”
Pakistan views ICT as a driver of economic change and seeks to transform the sector into a cornerstone of its strategy for financial stability, courting foreign investment from countries like China and the Gulf states.
In Jan., the Pakistani IT ministry and Huawei launched a training portal to develop a more technologically skilled workforce in Pakistan, aimed at enabling the Pakistani youth to contribute to the country’s development.
During Sunday’s meeting, Sharif asked officials to ensure speedy implementation of IT training projects.
“The prime minister directed to make the ICT training portal accessible to maximum number of people, and expand the project to all provinces, including Azad Kashmir and Gilgit-Baltistan,” Sharif’s office said.
Pakistan plans to adopt cryptocurrency as ‘strategic asset,’ adviser says
- Pakistan has over 20 million active users in the digital asset market who face significant challenges, including high transaction fees
- Last month, Islamabad announced its plans to set up a national crypto council to establish a digital financial ecosystem in the country
ISLAMABAD: Pakistan is planning to adopt cryptocurrency as a “strategic asset” to bring about a digital financial revolution, an adviser to the Pakistani finance minister said this week, after Islamabad signaled its intent to formalize digital asset regulations.
Pakistan’s finance division said last month that it was mulling a national crypto council to establish a financial ecosystem in the country that would allow safe investments in digital assets.
This month, the finance division announced the appointment of Bilal bin Saqib, a Forbes-recognized entrepreneur and Web3 investor, as chief adviser to the finance minister for the Pakistan Crypto Council.
“The Pakistan Crypto Council recognizes Pakistan’s strong position as one of the top 10 nations globally in crypto adoption,” Saqib said on X.
“Moving forward, it will be our priority to recognize crypto as a strategic asset, develop comprehensive and forward-thinking regulatory frameworks, and ensure compliance to position Pakistan as a leader in the digital financial revolution.”
Pakistan’s central bank previously declared virtual currencies, including Bitcoin, Litecoin, Pakcoin, OneCoin, DasCoin and Pay Diamond, illegal and prohibited their sale, purchase and exchange in trading.
The country currently has over 20 million active users in the digital asset market who face significant challenges, including high transaction fees, according to the finance division.
Saqib noted that the United States (US) had just made a “historic” move to establish a Bitcoin Strategic Reserve, which marked a pivotal moment for the global economy.
“It signals a shift in how nations perceive value, moving beyond traditional assets like gold and oil to embrace the digital future,” he said.
“For the world, this decision brings greater legitimacy to crypto as a store of value, accelerates institutional adoption, and strengthens the foundation of the digital economy. It also sets a precedent for other nations to follow, reshaping the future of global finance.”
Last month, Pakistan’s Finance Minister Muhammad Aurangzeb directed stakeholders to formulate a comprehensive framework for a digital asset ecosystem that ensures security, transparency, regulatory compliance and economic viability. He was presiding over a high-level meeting to discuss global evolution of cryptocurrency and potential impact of digital assets on Pakistan’s economy.
“This crypto council will oversee policy development, address regulatory challenges, and ensure that Pakistan’s digital asset ecosystem evolves in a secure, compliant, and sustainable manner,” the finance division said after the meeting on Feb 25.
“The Council will also collaborate with friendly countries to develop standardized frameworks for international digital economic engagement.”
Pakistan Taliban attack kills four paramilitary troops, police say
- The attack occurred in Kurram district, located on the border with Afghanistan, in Khyber Pakhtunkhwa province
- Pakistani Taliban militants are most active in Pakistan’s northwestern region and regularly target security forces
PESHAWAR: At least four Pakistani paramilitary troops were killed when local Taliban fighters attacked a security checkpoint in a northwestern border region, a police official said on Sunday.
The attack occurred in Kurram district, located on the border with Afghanistan, in Khyber Pakhtunkhwa province, where there has been a rise in violence in recent years.
“Heavily armed militants” launched the attack on Sunday morning, a police official told AFP on condition of anonymity because he was not authorized to speak to the media.
“At least four security personnel were martyred, and seven others were injured,” he said.
Violence has increased in Pakistan since the Afghan Taliban returned to power in Kabul in August 2021.
The Pakistani Taliban — known as Tehreek-e-Taliban Pakistan (TTP) — is the most active militant group in the northwestern region and regularly targets security forces.
Islamabad accuses Kabul’s rulers of failing to root out militants sheltering on Afghan soil as they prepare to stage assaults on Pakistan, a charge the Taliban government denies.
Last week, 13 civilians and five soldiers were killed when suicide bombers drove two car bombs into an army compound in the Bannu district of the same province.
Last year was the deadliest in a decade for Pakistan, home to 250 million people, with a surge in attacks that killed more than 1,600 people, according to the Center for Research and Security Studies, an Islamabad-based analysis group.
Women investors await Pakistan-IMF talk results to decide on stock investments
- IMF has sent a team of experts to see if the South Asian nation is complying with the conditions it has set under the $7 billon program
- A successful review will not only lead to the release of about $1 billion to cash-strapped Pakistan, but also open new avenues for investors
KARACHI: Woman investors in Pakistan are “cautiously” looking at the country’s ongoing talks with the International Monetary Fund (IMF) and will buy more shares in companies listed on the bourse, if the negotiations succeed.
Woman investors in Pakistan’s commercial capital of Karachi hope that Islamabad’s negotiations with the global lender for a review of its $7 billion program would end on a positive note, thus allowing the market sentiments to boost.
The Washington-based lender has sent a team of experts, led by Nathan Porter, to see if the South Asian nation is complying with the conditions it has set under its reforms-oriented extended fund facility (EFF).
A successful review would not only lead to the release of about $1 billion to cash-strapped Pakistan, but also open new avenues for investors who have been buying and selling company shares at the Pakistan Stock Exchange (PSX).
“I will be putting more money into the stock market for sure and I would be advising my clients to do the same,” said Saniya Bilal Doni, a 33-year-old CFA charter holder who has been actively investing in Pakistan’s stocks, real estate and gold markets for the last four years.
The mother of two holds a finance degree from the University of Toronto and prefers to make long-term, dividend-based investments in what she called “well performing” banking, real estate, fertilizers and technology stocks that make her portfolio keep growing. Doni though did not quote any numbers to show how big her investment portfolio is.
Having worked for various asset management funds in Canada and Abu Dhabi after completing her graduation in 2013, Doni now is managing her family’s portfolio as well as advising high net-worth individuals on how they should manage their investment portfolios.
She expects more money to come into Pakistan’s economy as a result of a successful IMF review that would help the stocks market increase more.
“All the stocks should technically go up. Yes, that has an impact because as an economy we are unfortunately dependent on IMF’s funding,” she said.
“I am paying attention to all of that, especially as I, you know, make changes to the portfolio, if any, and also if I advise clients.”
Inflation-hit Pakistan has about 350,000 registered individuals who invest in stocks, according to Najeeb Ahmed Khan Warsi, head of online trading at Foundation Securities Ltd.
This number looks dismal given the fact that Pakistan is the world’s fifth most populous nation, with more than 240 million people. The number of woman investors at 5 percent is even negligible.
Like others, these woman investors are also concerned about the outcome of Pakistan’s talks with the IMF, which usually take a couple of weeks to conclude.
“As an investor I am very cautious at the moment. I am holding on to my stocks. I am holding on to my investments. I am very careful with that,” said Isra Ghous Rasool, a 22-year-old business management student who bought some Shariah-compliant stocks a year and half ago to prove that women too can invest in stocks.
Pakistan’s central bank has almost halved the interest rates to 12 percent since June last year and made the booming stocks market an attractive place for investors like Doni and Rasool. The stock gauge KSE-100 Index almost doubled last year and gained 87 percent in US dollars terms to make Pakistan one of the world’s best performing markets.
Women like Doni and Rasool think that being investors makes them financially independent and empowered enough to have more control over their finances and choices without depending on their male relatives.
“I have a better relationship with money. I am able to dictate what I want in life and be able to actually pay for it,” said Doni, who sees another rate cut coming on March 10 when Pakistan’s central bank is scheduled to revise the borrowing rate.
“I am definitely looking for more opportunities in the stock market.”
Doni thinks investments help people hedge inflation which though now has eased to a single digit, but was seen peaking to 38 percent in May 2023.
Despite such good examples, Pakistan remains a male-dominated society where women tend to stay away from financial markets and use traditional saving methods like running committees.
Maham Alavi, a 40-year-old Pakistani brand manager, is running an all-women group of investors on Facebook from the Saudi capital Riyadh for the past decade.
Her Facebook group, Women Investment Forum, has now expanded to 15,000 members, about half of them being confident investors or analysts working in different fields in and outside Pakistan.
Alavi herself vets all the Facebook profiles to avoid an online scam.
“I started this group in Sep 2016 with the intent to learn myself and gather as many women as I could because the PSX had always been a male-dominated field in Pakistan,” she told Arab News from Riyadh.
Women Investment Forum is an educational group and does not tell its members where to invest or what to buy.
“That is their decision to make. We try to empower them so they can make decisions themselves,” said Alavi, a mother of two.
Pakistan’s stock exchange also organizes workshops and awareness sessions to promote financial literacy among women that makes them financially independent. One such event is being organized by the PSX on March 10 in Karachi to celebrate the International Women’s Day.
Both Doni and Rasool are equally critical of the prevailing political uncertainty in the country that by and large keeps investor sentiments dampened in Pakistan.
Pakistan is facing a political crisis since April 2022, when prime minister Imran Khan was ousted from power through a parliamentary no-trust vote. Khan remains in jail and his Pakistan Tehreek-e-Insaf party keeps agitating on roads across Pakistan demanding the release of its political prisoners, including Khan.
“Political noise does play a huge role and whenever I’m trying to, you know, encourage, overseas Pakistanis to invest into Pakistani stock market or, you know, real estate, this is their number one concern,” said Doni, while sitting in her home office in Karachi’s Clifton area.
Rasool said political uncertainty has a huge impact on stock fundamentals. Recalling how the stock market had reacted to the arrest of Khan, she said a lot of stocks were oversold and a lot of investors had opted for selling their holdings in panic.
In their Women’s Day message, Alavi, Doni and Rasool said women, who make up half of Pakistan’s total population, should at least start learning about making investments in stocks for long-term gains.
“The IMF guys are right now in the country, so things are on the upward trajectory. If you’re still on the fence, on the sidelines, at least equip yourself with the right knowledge,” Doni urged.
In Pakistan’s capital, hundreds of women march to demand equality
- Women, politicians and activists take part in annual march on International Women’s Day in Islamabad
- Women carry placards, shout slogans to demand end to gender-based violence at Islamabad press club
ISLAMABAD: Hundreds of women carrying placards and shouting slogans for equality took to the streets of Pakistan’s capital on Saturday afternoon, demanding an end to gender-based violence and sexual harassment in the South Asian country.
The Aurat March — Urdu for “women’s march” — began in 2018 as a single march for International Women’s Day held in Pakistan’s southern port city of Karachi. However, it has become an annual event held in multiple cities.
The marches have faced opposition from religious conservatives who allege the group receives Western funding as part of a plot to promote obscenity in Pakistan. The organizers deny this, saying the marches are locally funded with grassroots participation and focus on equal rights and opportunities for women.
This year’s march by the Islamabad chapter of the Aurat March was organized under the theme: “Feminist Politics vs Patriarchal State.” Aurat March said this year’s protest aimed to confront an oppressive state that seeks to silence women, minorities and transgenders. Hundreds of men and women, including activists and people from all walks of life, gathered at the National Press Club on Saturday to register their protest.
“The main reason for celebrating this day (Mar. 8) has always been that we resolve to continue our struggle,” Ismat Raza Shahjahan, a leader of the left-wing Awami Workers Party, told Arab News.
“And at the same time we will defend the rights we have secured and move forward with the agenda of gender equality.”
Shaheena Kausar, one of the march’s organizers, criticized police for stopping the Aurat March from marching beyond a few miles from the National Press Club. She regretted the authorities’ decision to not grant permission to Aurat March to hold its gathering beyond the press club.
“This time as well we had applied in advance and also went for meetings [for a no-objection certificate] but we were not given the NOC,” Kausar told Arab News.
“You can see, they stopped us a few meters after we marched.”
When asked why the Islamabad chapter of the Aurat March had held its gathering on Mar. 8 despite it being the month of Ramadan, in which Muslims fast from dawn till dusk, Kausar said:
“If the injustices against women are not stopping in Ramadan, then how can the march be stopped?”
In Pakistan, just 21 percent of women are in the workforce and less than 20 percent of girls in rural areas are enrolled in secondary school, according to the United Nations. Only 12 women were directly elected to parliament out of 266 seats in last year’s election.
Much of Pakistani society operates under a strict code of “honor,” with women beholden to their male relatives over choices around education, employment and who they can marry. Hundreds of women are killed by men in Pakistan every year for allegedly breaching this code.
Moin, an Islamabad resident and a father of three daughters, said he has been coming to the Aurat March’s annual event ever since it started to demand equal rights for women.
“Why do I come? Well, to change the country, to sort of give a voice to help women and girls to work shoulder-to-shoulder with men,” Moin told Arab News.
“Otherwise, we don’t have a future.”
