Business
ASEAN eyes investment in tourism, food industry | The Express Tribune
Federal Minister for Investment and Board of Investment (BOI) Chairman Qaiser Ahmed Sheikh
ISLAMABAD:
Federal Minister for the Board of Investment Qaiser Ahmed Sheikh held a meeting with a joint delegation of Asean ambassadors and high commissioners at the Board of Investment (BOI) office.
During discussions, Qaiser Ahmed emphasised the strategic importance of Asean countries as vital partners of Pakistan. He briefed the delegation on the pivotal role of Special Economic Zones (SEZs) and the Special Investment Facilitation Council (SIFC) in promoting investment opportunities nationwide.
He highlighted that these zones provide a structured, investor-friendly environment designed to foster sustainable industrial growth, attract foreign direct investment and create employment opportunities.
All representatives of the Association of Southeast Asian Nations (Asean) expressed keen interest in sectors such as tourism, the food industry and other emerging markets that offer considerable potential for investment and bilateral economic collaboration. The minister noted that Pakistan is actively introducing incentives to enhance investment prospects in key sectors, including information technology, infrastructure, textiles and mining.
The delegates acknowledged the vast investment opportunities available in Pakistan and reaffirmed their willingness to explore potential collaborations across multiple sectors. Discussions also centred on strengthening trade and investment linkages, enhancing regional connectivity and streamlining investment procedures to facilitate mutually beneficial partnerships.
Kevin PeacheyCost of living correspondent
Ella MurrayHomes without lounges are becoming a reality for renters on tight budgets faced with a lack of available lets.
Nearly a third of homes advertised on flat-sharing website SpareRoom in the first half of the year had no living room.
Ella Murray, aged 22, who shares with three other people in London, said: “At this stage in my life I’m not willing to sacrifice money for more space.”
Landlords say turning a lounge into a bedroom helps them cover their higher mortgages and other extra costs, while meeting demand from tenants.
But a lack of communal space means many renters are living and working in one bedroom putting them at risk of social isolation.
Some also point out the “false economy” of being forced to go out to socialise which can cost more than a night in with friends.
Cost-of-living pressures
Students living away from home might expect to rent in a property where the front room has been converted into a bedroom.
But these latest figures suggest this is a reality for young professionals renting in their 20s and 30s.
Analysis by SpareRoom, shared with the BBC, shows:
- Some 30% of adverts for a room posted on the platform in the first half of the year were for places without a living room
- That proportion was higher in London, at 41%
- Birmingham saw an increase from 16% to 22% of adverts with no living room in the five years from 2020
The data covers flat or house shares only, and does not include any studio, or one-bedroom listings.
Official figures show average UK monthly private rents increased by 5.5%, to £1,354, in the year to September.
As costs rise, there are 10 prospective tenants on average chasing every available rental property, according to the latest Rightmove data.
A landlord turning a lounge into a bedroom provides an extra place for a tenant. It could also mean lower rent payments for each tenant but potentially more rent overall for landlords covering higher mortgage repayments seen in recent years.
Ella and her three housemates split the rent of £3,000 a month dependant on the size of their bedrooms, but their home does not have a living room.
“We have a decent-sized kitchen with a dining table which is where we hang out instead. We would definitely socialise more if we had a living room,” she said.
She said the rent was cheaper as a result, and – living in London – it was the norm among her friends in other rental properties in the city.
She works in musical theatre, and said she would be more inclined to rent somewhere with a living room were her wage to increase and were she to move in with a partner.
Hannah CarneyHannah Carney, 26, also shares a property without a lounge and says none of the places she had rented since she was 18 had a living room.
She says she misses having a “chill place that is social” and it means she and her flatmates probably spend more on going out for dinner and drinks.
“I’d love to say that all properties should have a communal area. I wish that was the norm, but I know it’s not realistic,” she said.
The best she and her flatmate could do, she says, is to have movie nights in a box room that they also use to hang their washing.
Matt Hutchinson, director of SpareRoom said: “We’ve had so many messages from people who met their best friends and partners in flatshares, who’ve raised families or started businesses together.
“Those kinds of stories will become rarer if communal, sociable spaces within homes are not protected. Sadly, loneliness is alarmingly common.
“With rents as unaffordable as they are now, it’s understandable people are looking for ways to cut the cost of living.”
Chris Norris, chief policy officer at the National Residential Landlords Association (NRLA) said the “root of the challenges” was too few rental homes to meet demand.
The NRLA said some landlords, facing a difficult outlook, were moving into offering multi-occupancy homes so their businesses remained viable enough to carry on.
“With rising costs and the expectation of smaller margins to contend with, some landlords will certainly be looking at how to use their investments most efficiently and meet demand effectively whilst delivering high-quality private rented homes,” Mr Norris said.
At the more extreme end of the scale, the BBC has previously uncovered illegal house-sharing in multi-occupancy homes.
Business
Aadhaar future roadmap: UIDAI sets up expert panel to craft Vision 2032; explores AI, blockchain and quantum tech – The Times of India
The Unique Identification Authority of India (UIDAI) has set up a high-level expert committee to make Aadhaar technology future-ready, with focus on scalability, data security, and resilience against emerging cybersecurity threats, according to an official statement issued on Friday.The committee, chaired by UIDAI Chairperson Neelkanth Mishra, includes UIDAI CEO Bhuvnesh Kumar, Nutanix founder Dheeraj Pandey, MOSIP head of engineering Sasikumar Ganesan, Trilegal partner Rahul Matthan, Amrita University Professor Prabaharan Poornachandran, Michigan State University Professor Anil Jain, UIDAI Deputy Director General Abhishek Kumar Singh, Sarvam AI co-founder Vivek Raghavan, and IIT Jodhpur Professor Mayank Vatsa.“Recognising the rapidly changing technological and regulatory landscape, the UIDAI has embarked on a comprehensive strategic and technological review to shape the next decade of Aadhaar’s evolution through a new ‘Aadhaar Vision 2032’ framework,” the statement said.The Vision 2032 roadmap will not only sustain Aadhaar’s technological leadership but also reinforce its role as a secure, inclusive, and people-centric digital identity, the statement added.The expert panel will draft the Aadhaar Vision 2032 document, outlining a framework for next-generation Aadhaar architecture aligned with India’s Digital Personal Data Protection (DPDP) Act and global privacy and cybersecurity standards.According to the UIDAI, the Vision 2032 framework will leverage advanced technologies such as Artificial Intelligence, Blockchain, Quantum Computing, Advanced Encryption, and next-generation data security systems to ensure that Aadhaar remains secure, scalable, and adaptable to the evolving digital landscape.
Business
The rush for iPhones sees Apple register all-time revenue record in India: CEO Tim Cook – The Times of India
NEW DELHI: Apple’s operations in India shone once again for the US tech and electronics major, which set an all-time revenue record in the country just as it recorded an eight per cent growth in global revenues, at $102.5 billion, led by “a tremendous response” to the new iPhone 17 series and the previous-gen iPhone 16. Tim Cook, the global CEO of Apple, said the company is hoping for a further surge in the sales momentum during the Christmas and New Year’s season, even as it battles constraints in fulfilling customer demand, along with some delays in shipments to the crucial Chinese market. “Turning to retail, we’re heading into our busiest time of year with our best-ever lineup.”India stood out once again for its stellar performance, not just in the production of iPhones but also because of the strong revenues. “We also set a September quarter revenue record in emerging markets and an all-time revenue record in India,” Cook said while releasing global financial numbers.He attributed the surge to growth in the retail footprint of the company across geographies, including in India. “In the last few months, we’ve opened new stores in emerging markets like India and the UAE and new locations in the US and China.”Cook said the acceptance of the new iPhone series has seen the company register growth in the vast majority of markets. It had September quarter revenue records in dozens of markets, including the U.S., Canada, Latin America, Western Europe, the Middle East, Japan, Korea, and South Asia.Kevan Parekh, the CFO of Apple, also had words of praise for India, a market that was amongst the countries that saw the biggest surge in demand for iPhones. “iPhone revenue was $49 billion, up 6% year-over-year, driven by the iPhone 16 family. iPhone grew in the vast majority of the markets we track, with September quarter records in many emerging markets, including Latin America, the Middle East, and South Asia, and an all-time record in India.”Apple said that the iPhone active installed base grew to an all-time high across the world, and it set a September quarter record for upgraders. “According to the recent survey from World Panel, the iPhone was a top-selling model in the U.S., urban China, the UK, France, Australia, and Japan. We continue to see very high levels of customer satisfaction in the U.S. at 98% as measured by 451 Research.”The company has said it does not intend to slow down expansion in India – both for production of iPhones or in broadening retail or business/sales operations – despite geopolitical tensions as diplomatic relations between India and the U.S. remain challenging over the Trump administration’s tariffs decisions and purchase of Russian oil by New Delhi.Apple management has told the Indian government that the company continues to actively pursue its expansion plans in India. Factories of Taiwanese Foxconn as well as the Tata group in India, are not only making iPhones for India but also for meeting the demands in the US market. The company has also been witnessing a strong growth in demand in the domestic consumption of iPhones in India.
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