by admin | Aug 28, 2025 | banking, financial services, money, securities, technology
Published on, Aug. 19 — August 19, 2025 7:24 AM
The Central Bank of Pakistan (CBP), known as the State Bank of Pakistan (SBP), plans to introduce its enhanced payment and settlement platform named PRISM+ on Tuesday, August 19, 2025. The ceremony will be presided over by the Governor of the State Bank of Pakistan, Mr. Jameel Ahmad, with participation from high-ranking SBP personnel, delegates from banking entities, and important players within the finance industry. This development represents an essential step forward in the continuous improvement of Pakistan’s financial framework.
This innovative framework marks a significant advancement in updating the way funds and governmental assets circulate within the nation’s monetary network.
PRISM+ is based on the global ISO 20022 messaging standard, which is used in many advanced financial systems around the world. It includes two key components:
An improved Real-Time Gross Settlement (RTGS) system designed for swift processing of major transactions between involved parties
A completely new Central Securities Depository (CSD) responsible for handling government instruments like Treasury Bills, Public Investment Bonds, and additional government-related financial assets
What PRISM+ Provides: A Quicker and More Intelligent Banking System: PRISM+ introduces various innovative tools and functionalities for banks to enhance their everyday management processes:
Immediate transfer of significant transactions among users Choice to plan payments for a later day
Payment handling based on priority (key transactions are processed initially)
Real-time dashboards displaying account balances, outstanding payments, and transaction processing status
Automated computation of charges and bills
Enhanced Management of Sovereign Securities: The CSD within PRISM+ enables banks to purchase, trade, and oversee government bonds with greater ease:
Primary Market Auctions: Financial institutions may place offers and receive outcomes instantly
Trading in the Secondary Market: Financial institutions may send transaction orders, which are promptly paired and finalized.
Risk Administration: Financial institutions have the ability to monitor and assess their collateralized assets, as well as determine the amount that can be utilized.
Monetary Policy Tools: Assists the State Bank of Pakistan in adding or removing funds from the economy and facilitating immediate transaction settlements
Enhanced Visibility and Safety: Each transaction comes with a complete record of activity
Role-based access ensures only authorized users can perform actions
Real-time alerts notify banks about any issues with settlement
Innovative Solutions for Managing Cash Flow and Payments
Liquidity Saving Queues: To reduce delays and manage liquidity better, PRISM+ uses special queues:
High-priority payments are settled right away
Payments with lower priority are placed in distinct queues and processed in groups to prevent overcrowding.
Reserve Earmarking: Banks can set aside funds specifically for systems like Raast, 1Link, NIFT, or NCCPL. This makes sure critical transactions are not delayed due to general liquidity use.
Intraday Liquidity Facility (ILF): Financial institutions have the option to obtain temporary funding by pledging qualifying government bonds. This mechanism helps maintain seamless transactions despite temporary fund shortages.
Other Improvements
Longer operating hours for better access: Payment cancellation and return messages can now be handled in real time
Facility to deposit or withdraw cash at the SBP Karachi branch for specific transactions
The platform was created in accordance with SBP’s Vision 2028, seeking to build a contemporary, accessible, and strong financial environment. Comprehensive involvement of stakeholders during the creation phase has made sure that PRISM+ incorporates global standard approaches while addressing Pakistan’s specific market requirements.
by admin | Aug 28, 2025 | disaster management, disaster preparedness, disasters, emergency management, news
Released on, Aug. 19 — August 19, 2025 at 3:07 PM
The central administration, military forces, and National Disaster Management Authority conducted a combined media update in Islamabad regarding the current monsoon emergency. Representatives stated that torrential rainfall has resulted in 670 fatalities throughout Pakistan. Numerous additional individuals remain wounded or unaccounted for. Teams from the NDMA are continuing efforts to locate those carried off by floodwaters. Immediate relief activities are ongoing in every impacted area.
Lieutenant General Ahmed Sharif from DG ISPR stated that the flooding has caused damage to roads and bridges, particularly in Khyber Pakhtunkhwa. In order to act swiftly, the military sent two engineering battalions to KP and another two to Gilgit-Baltistan. These teams are working on unblocking roadways and repairing damaged structures. Military engineers are additionally assisting with restoring communication networks. The availability of relief supplies is gradually increasing in isolated regions.
At the same time, military medical personnel are providing assistance to those wounded in flooded areas. To date, more than 6,000 individuals have been provided with healthcare services. Nine mobile field hospitals are functioning within impacted regions. Two established medical facilities have been stationed in Khyber Pakhtunkhwa and Gilgit. Additionally, two battalions are offering medical aid in Buner and Shangla. Numerous survivors are being treated for severe wounds.
The military is operating based on specific directives issued by the Chief of Army Staff, Field Marshal Asim Munir. Extra battalions have been deployed for recovery and assistance efforts. In order to assist those impacted, the army has contributed a day’s worth of provisions from its stockpiles. Aid materials are handed out every day. Supplies such as food, drinking water, and medical items are transported to isolated regions using aircraft and vehicles.
To sum up, Pakistan’s civilian and military organizations are collaborating effectively to handle the crisis. The administration called on citizens to remain vigilant and adhere to safety instructions. Aid operations will persist until everyone impacted is secure. The NDMA mentioned that restoration and rebuilding could require an extended period. Nevertheless, complete nationwide backing has been pledged for each affected area.
by admin | Aug 27, 2025 | lifestyle, relocation, retirement, retirement planning, Travel
Dhaka, August 10 – Debra Taylor has experienced many significant events this year, including going through a divorce, getting ready for retirement, and moving from southern California to Portugal along with one of her children.
Following her decision to move overseas, Taylor narrowed down possible nations considering tax factors (Spain was eliminated because of property taxes), weather conditions (Costa Rica proved excessively warm), and convenience of traveling across Europe, which she loves. She visited Portugal through Expatsi, a moving assistance company, and opted to reside in Aveiro—a lovely coastal town on the western side recognized as the “Venice of Portugal” for its appealing waterways.
From that point onward, the procedure became more about logistics. Taylor obtained a one-year rental agreement (necessary to move forward), hired Viv Europe to manage documentation and governmental formalities, finished an FBI criminal record check, and set up a visa interview for later in September.
The decision was influenced by her youngest child. “Following the election of our current president, my 18-year-old transgender daughter expressed a desire to leave the country as quickly as possible,” Taylor said. “I fully supported her.”
Her older daughter, who is 20 years old, will stay in the United States to complete her university studies. Taylor stressed that this decision is not final: “I intend to use it as a starting point for further exploration of the area. My intention is to purchase a house someday, but just after having spent additional time residing in different neighborhoods.”
Authorities specializing in aging and moving advise that Taylor is opting for sensible decisions.
Retirement relocation trends
The rate of relocation among older adults differs based on elements such as political environment, availability of affordable homes, and expense of living. While elderly individuals tend to relocate less often compared to younger generations, more than 3 million Americans who are 65 years old and above moved within the country during the five-year period preceding the pandemic, according to census statistics.
Students encounter detentions and phone calls from authorities due to mistaken alerts from AI monitoring systems.
Of those relocating overseas, U.S. political issues have become the primary reason, as stated by Jen Barnett, co-founder of Expatsi. Nonetheless, several well-known retirement locations tend to favor younger workers rather than older residents.
Many older Americans remain in their current homes, yet staying put comes with difficulties such as increasing housing expenses, costly alterations to living spaces, and insufficient local support systems including medical care, essential services, and security. Rodney Harrell from AARP highlights the significance of preparing for upcoming requirements, covering aspects like health, movement capabilities, and financial shifts.
By 2034, the number of individuals aged 65 and above in the United States is expected to surpass those younger than 18, representing a significant shift in population structure.
Beyond climate and family
Selecting a place for retirement goes beyond just considering climate or being close to family members. Think about your personal lifestyle needs such as availability of colleges, places of worship, and opportunities for community involvement. Harrell suggests evaluating the social environment—whether locals are welcoming or prefer privacy—and utilizing tools like the AARP livability rating.
In case proximity to family is important, retirement advisor Elizabeth Zelinka Parsons suggests open dialogue regarding participation levels and assessing the stability of grown-up kids prior to relocating.
Casey and Dave Bowers, now living on Portugal’s Silver Coast, enjoy the region but struggle with being separated from their families, even though they have adapted to the scenery and daily life.
Retirement advisor Sarah Friedell O’Connell advises those who have retired to consider how they wish to utilize their additional spare time.
Assess your lifestyle carefully
Financial advisor Chad Harmer suggests that retirees start with a “lifestyle review,” imagining their perfect everyday schedule several years from now, incorporating factors like location, social interactions, interests, medical care, and time spent with relatives, prior to considering tax implications.
He advises setting aside funds for unexpected charges such as insurance in areas prone to disasters and ongoing travel expenditures. Parsons suggests opting for temporary leases to assess lifestyle suitability prior to making a long-term relocation decision.
Harmer’s rule: If 80% of your ideal daily life can be maintained at your new home for 80% of the year, you’ve probably discovered the suitable spot. Anything less could indicate pursuing unattainable goals.
Source: Agency
by admin | Aug 27, 2025 | beaches, local news, pacific northwest, travel destinations, travel in oregon
An attractive coastal village on the
Oregon
The coast is filled with appeal and provides an ideal setting for a tranquil and serene holiday.
However, along with that silence comes very few other activities.
Neskowin, approximately a two-hour drive away from
Portland
It is famous for its vast sea vistas, charming rocky structures, and the soothing noise of crashing waves.
However, its peaceful calm implies that the small town necessitates visitors and residents to be innovative when seeking things to do.
With just around 200 inhabitants, Neskowin features charming little cottages and seaside homes.
The primary draw is the shoreline, which extends for four miles between Cascade Head and Nestucca Bay, offering breathtaking views.
However, the town provides limited options for tourists seeking an active evening entertainment scene or a variety of dining establishments.
It offers only two choices for dining and most prefer to prepare meals at home, as per
The Oregonian
.
A restaurant located at Hawk Creek lets guests enjoy meals such as wood-fired pizzas, seafood dishes, sandwiches, and appetizers, along with an outdoor ice cream kiosk named The Village Scoop.
Alternatively, Neskowin Provisions serves as the nearby grocery store, providing options like sandwiches and breakfast wraps, along with coffee and homemade treats.
A 15-minute trip offers those seeking additional choices an opportunity to reach Pacific City, home to establishments like Pelican Brewing, Grateful Bread Bakery, and Sportsman’s Pub-n-Grub.
Just twenty minutes away, Lincoln City provides options like the seafood eatery Kyllo’s, the food truck The Pines Dine, or Thai Bay for those craving Thai cuisine.
The small population of Neskowin leads to limited choices for accommodation, with most of its lodgings and seaside homes being independently owned.
To obtain a reservation, travelers must make arrangements via firms like Grey Fox Vacation Rentals, which oversees properties at The Chelan and Neskowin Resort, or Meridith Lodging for cabins located at The Breakers and Proposal Rock Inn.
If you’re looking for indoor fun, your single visit should be to Hawk Creek Gallery.
The creative venue was established in 1978 and showcases pieces by regional artist Michael Schlicting, who regularly visits the gallery during the summer months to engage with guests.
For those seeking a complete break from urban living, Neskowin offers an ideal getaway.
Cascade Head is an area spanning 102,110 acres where hikers can explore a system of paths providing sweeping sea vistas, including a well-known 6.6-mile trail starting at Knights Park.
The shoreline offers glimpses of Proposal Rock, a coastal cliff sanctuary covered in vegetation that rises out of the water.
In addition, the beach features its own nine-hole golf course called the Neskowin Beach Golf Course, which was established in 1932.
The Neskowin Ghost Forest – thought to date back to the 1700s due to an earthquake that drowned a grove of Sitka Spruces – presents a somber landscape of tree trunks close to Proposal Rock.
The remains stand as a strange sight rising from the sand on the southern part of Neskowin Creek, a flowing body of water separating the shoreline, which came into view following intense winter storms during the late 1990s.
The community was designed as a residential area, with its limited number of residents contributing to calm traffic conditions and ample tranquility.
Read more
by admin | Aug 26, 2025 | cricket, cricket players, sports
Kathmandu, Aug. 19 — The Nepali men’s senior team was handed their third straight defeat in the Top End T20 Series in Darwin, Australia, on Monday, as they went down to Melbourne Stars Academy by 31 runs while chasing 176 runs at TIO Stadium.
A 120-run stand for the second wicket between Thomas Rogers and Blake Macdonald helped Melbourne Stars move past the setback of losing an early wicket.
The team’s captain and top-order batter, Campbell Kellaway, was dismissed for 2 runs from the third delivery of the first over bowled by Sompal Kami. Nevertheless, his teammate Rogers remained at the crease alongside Macdonald, forming an effective partnership, scoring 44 from 30 balls and 74 from 47 deliveries, respectively.
When Macdonald was dismissed for the second wicket in the 13.1 over, Melbourne Stars had scored 122 runs. Rogers continued to score a fifty and was out for 65 from 46 balls when the fourth wicket fell in the 18th over.
The Melbourne Stars fell for seven wickets during the opening innings, as other batsmen managed just 30 runs in total.
Of the six bowlers used by Nepal, Sandeep Lamichhane bagged three wickets while Kami and Shahab Alam picked one each. There were two run-outs for the Australian side.
In turn, Nepal, who were chasing the target for the third time in three games, could not complete the chase as the batting order stayed inconsistent as in the previous two losses-against hosts Northern Territory Strike on Friday and Bangladesh ‘A’ on Saturday.
Nepal had fallen short of 42 runs against NT Strike and 32 runs against the South Asian neighbour.
Opener Kushal Bhurtel departed after a cameo on Monday, scoring 25 off 13, while his partner Aasif Sheikh went on to cross the 50-run mark. When Sheikh departed as the fourth wicket in 16.1 overs, Nepal were at 120 runs, requiring 56 runs in 23 deliveries.
Skipper Rohit Kumar Paudel had scored 33 off 31 before departing as the third wicket. Kushal Malla (11 off 11) was the only other Nepali batsman to reach double figures.
Melbourne Stars had used eight bowlers in the game, and four of them remained wicketless. Doug Warren and Austin Anelzark claimed two each while Aryan Sharma and Chris Howe bagged one each.
Inconsistent batting
Each of the 11 teams in the tournament is playing six games each in the single round-robin league stage; the top four teams progress to the semi-final stage and compete for the trophy. Nepal’s chances for the title are now almost over as, with three losses, the Rhinos are placed 10th in the table. They are above Australian Capital Territory on net run rate.
Nepal have lost the three games batting second and failing to chase the target, a role of the batters. However, Nepali batters have been struggling to remain consistent and score sufficiently.
Malla, who made a comeback to the national team after being dropped when the Rhinos travelled to the UK in June, is currently the highest run scorer of the team in the tournament.
Malla accumulated 104 runs across three matches. He made 34 from 26 balls against NT Strike and remained unbeaten on 59 from 47 deliveries versus the junior Tigers. He now holds the eighth position among batsmen who have scored the highest number of runs in the competition.
Only Sheikh’s score of 53 from 49 balls and Paudel’s 33 from 31 deliveries saw Nepalese batsmen besides Malla reach more than 30 runs during the competition.
Nepal’s head coach Stuart Law has also been making changes to the squad regularly in the tournament. Lokesh Bam, who failed to deliver in the first two games, was replaced by Bhim Sharki on Monday while Aarif Sheikh was also brought in for his first appearance in the series.
However, both Sharki and Aarif were not up to the mark on Monday. Sharki departed for 1 off 2 while Aarif was not out at 8 off 9.
Nepal now have three games remaining in the series. They will face Hobart Hurricanes Academy on Tuesday, Melbourne Renegades Academy on Wednesday and Pakistan Shaheens on Friday.
Pakistan Shaheens, Melbourne Renegades and Hobart Hurricanes are placed second, sixth and seventh in the table. Shaheens and Renegades have two wins in three games while Hurricanes have one in three. The results suggest that Nepal will not have an easy time in the last three league-stage encounters.
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