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    • PAKISTAN
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      Hamas attack kills 100 Israelis, Tel Aviv’s air strikes martyr more than 200 Palestinians

      Israel killed 95 Palestinians after bombing on aid sites, cafe, school in Gaza

      Pakistan downs 5 fighter jets, destroy brigade HQ in retaliation strikes

      India envoy blames political leadership for fighter jet crash in clash with Pakistan

      Pakistan congratulates Donald Trump for winning as US president

      Trump hopeful for Gaza ceasefire ‘next week’

      Children in Gaza surviving on bitter loaves made from animal feed

      Israel kills 549 aid seekers in this month

      Iran announces ceasefire against Israel, Trump declares its victory

      Iran arrests 26 more Israeli agents

      “ELECTION INTERFERENCE, KANGAROO COURT!” Trump says on indictment charges

      US to hold nuclear talks with Iran next week, Trump

      Pakistan urges SCO members for tackling multiple regional challenges

      India refuses to sign joint statement after SCO rejected false-flags on Pahalgam attack

      Indian origin Zohran Mamdani likely to become first Muslim mayor of New York

      Indian origin Zohran Mamdani likely to become first Muslim mayor of New York

      Hamas attack kills 100 Israelis, Tel Aviv’s air strikes martyr more than 200 Palestinians

      Israel resumes bloodshed in Gaza soon after ceasefire with Iran, 40 killed

    • BUSINESS
      Govt plans separate tax policy cell

      Rs3.5 trln tax collected from Karachi in FY24-25

      Petrol prices likely to increase up to Rs13 per litre

      Petrol prices likely to increase in Pakistan

      PM Shehbaz denounces Israeli aggression in Gaza, Lebanon and Iran

      PM welcomes Bloomberg report on Pakistan’s economic stability

      PPP breaks National Assembly quorum after controversy over resolution against canal project

      NA passes Rs 17.57tr budget 2025-26

      Bilawal hopes to get justice in presidential reference against ZA Bhutto’s death sentence

      Bilawal directs PPP lawmakers to vote in favour of budget 2025-26

      World Bank approves $213 million in financing for Balochistan

      World Bank approves $194m for education, water projects in Pakistan 

      Dollar gets meager dip against rupee

      Govt to get $3.3bn loans from Chinese banks

      Nepra uncovers serious irregularities in billing, meter readings

      KE consumers likely to get relief of Rs.4.69 on per unit

      Govt denies reports of fixing tax on solar power

      Govt reduces tax on solar panels from 18% to 10%

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      US revokes Bob Vylan’s visas after Glastonbury chants

      US revokes Bob Vylan’s visas after Glastonbury chants

      Police found skin glow, anti-ageing drugs from Shefali Jariwala’s residence after her mysterious death

      Police found skin glow, anti-ageing drugs from Shefali Jariwala’s residence after her mysterious death

      Meet with Hafsa Nawaz Khan – Miss Pakistan Universe 2025

      Diljit Dosanjh apologises to fans for ticket scam

      Diljit Dosanjh breaks silence on ‘Sardaar Ji 3’ overseas release

      Brother of actors Yasir, Danish Nawaz passes away

      Brother of actors Yasir, Danish Nawaz passes away

      Teenage star Aina Asif reveals her biggest dream

      Teenage star Aina Asif reveals her biggest dream

      Lahore hosts grand Miss and Mr. Pakistan 2025 coronation ceremony

      Lahore hosts grand Miss and Mr. Pakistan 2025 coronation ceremony

      Superman reveals his greatest strength in new teaser

      Superman reveals his greatest strength in new teaser

      Sunita Marshall opens up on pressure of converting to Islam

      Sunita Marshall opens up on pressure of converting to Islam

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      Shanto steps down as Bangladesh captain after whitewash defeat against Sri Lanka

      England fast bowler Jofra Archer ruled out of Ashes

      Jofra Archer comes back to England squad for second test against India

      Pakistan to face India in Asian Doubles Squash final

      Pakistan to face India in Asian Doubles Squash final

      Champions Trophy: England struggling to defend 352 runs against Australia

      Vaughan calls Ben Duckett current ‘best all-format’ batter

      Karachi Police to investigate threats to boxer Aliya Soomro

      Karachi Police to investigate threats to boxer Aliya Soomro

      Pakistani cueists dominate opening day at Asian 6-red

      Pakistani cueists dominate opening day at Asian 6-red

      Pakistan fails to qualify for Paris Olympics after defeat against New Zealand

      New Zealand beats Pakistan in Hockey Nations Cup final

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      The truth about the conflict between israel and palestine (gaza)

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      Earthquake jolts different parts of Punjab and KP

      3.2 magnitude earthquake jolts parts of Karachi

      IMF postpones talks with Pakistan seeking details of flood relief expenditure

      IMF urges India, Pakistan to de-escalate military tension

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      Sindh govt issues high alert amid Indian aggression

      ‘Alien: Earth’ drops heart-pounding trailer

      ‘Alien: Earth’ drops heart-pounding trailer

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      Court issues arrest warrants for Bushra Bibi in £190 million case

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      Voice of Sindh
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      WEF report shines light on world economy amidst COVID-19

      Web Desk by Web Desk
      in BUSINESS, INTERNATIONAL
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      World Economic Forum’s Annual Global Competitiveness Report has been released earlier in the day which had been delayed due to the ongoing coronavirus pandemic.

      The report examines recovery from COVID-19 and how it can build productive, sustainable, and inclusive economic systems

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      A special edition, published this year, elaborates on the priorities for recovery and revival, and considers the building blocks of a transformation towards new economic systems.

      The report assesses the features that helped countries be more effective in managing the pandemic and provide an analysis of which countries are best poised for an economic transformation towards systems that combine “productivity”, “people” and “planet” targets.

      Almost one year after the onset of the COVID-19 crisis, the deep economic recession has triggered continues to have profound economic and social consequences.

      While no nation has emerged unscathed, this year’s Global Competitiveness Report finds that countries with advanced digital economies and digital skills, robust social safety nets, and previous experience dealing with epidemics have better managed the impact of the pandemic on their economies and citizens.

      “The World Economic Forum has long encouraged policymakers to broaden their focus beyond short-term growth to long-term prosperity. This Report makes clear the priorities for making economies more productive, sustainable, and inclusive as we emerge from the crisis. The stakes for transforming our economic systems simply could not be higher,” said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum.

      Amir Jahangir, Chief Executive Officer of Mishal Pakistan and the Country Partner Institute of the Future of Economic Progress System Initiative, World Economic Forum, said, “The success stories from Pakistan in the light of the Global Competitiveness Index 2020 is the performance and strengthening of the institutions, scaleup of digitization both at the public and private sectors.

      “the surge for online services and data has increased more than 200 times in CoVID19 (Coronavirus) time period, both at the domestic and international level. CoVID19 has locked down communities and businesses into isolated environments, making the entire world go into Digital Incubation Ecosystems.

      The work from home has led to an increase in all levels of digital consumption across all strata of society. The Pakistani businesses have been forced to deploy digital solutions across all segments of the society including, Education, Business Processing, Services, and non-manufacturing, etc. He further said The Government needs to devise a system to use digital technologies for the welfare of the people. Also, tax regimes on technologies that help fight COVID-19 and contribute to data generation should be revisited to create more value for the citizens.”

      The Report identified factors that registered the most negative for emerging and developing economies as Pakistan are the Business costs of crime and violence, Judicial independence, Organized Crime, Extent of market dominance and public trust in politicians.

      The Report identifies factors that registered the most positive shifts for emerging and developing countries are Government’s responsiveness to change, Efficiency of train services, Venture capital availability, country capacity to attract talent and collaboration within a company.

      In recognition of the extraordinary developments in 2020 and of the unified global effort required to tackle the health crisis and its socioeconomic fallout, the Global Competitiveness Index rankings have been suspended for 2020. The 2021 edition will see a return to benchmarking, providing a refreshed framework to guide future economic growth.

      The report reveals that countries like Netherlands, New Zealand, Switzerland, Estonia, and the United States with advanced digital economies and digital skills have been more successful at keeping their economies running while their citizens worked from home. These countries have performed well on this measure.

      In advanced economies, business leaders saw increased market concentration, a marked decline in competition for services, reduced collaboration between companies and fewer available skilled workers in the employment market as the shift to digitally enabled work accelerated. On the positive side, leaders saw greater government response to change, improved collaboration within companies and increased availability of venture capital.

      In emerging markets and developing economies, business leaders noted an increase in business costs related to crime and violence, a reduction in judicial independence, a further reduction in competition and growing market dominance, and stagnating trust in politicians. They, too, expressed positive views on government response to change, collaboration within companies, and venture capital availability. They also noted an increase in the capacity to attract talent, potentially facilitated by the more digital labor market.

      “During this time of profound uncertainty, the health crisis and economic downturn have forced a fundamental rethink of growth and its relationship to outcomes for people and planet. Policy-makers have a remarkable opportunity to seize this moment and shape new economic systems that are highly productive while growing shared prosperity and environmental sustainability,” said Saadia Zahidi, Managing Director, World Economic Forum.

      Tags: COVID-19WEF

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