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 24, 2025 | aviation, cars, flying, technology, technology trends
August 19, Nepal – Excitement is growing across social media platforms and emerging websites in Nepal, where anticipation builds around the upcoming NADA Auto Show 2025 in Kathmandu. The event is set to feature a flying vehicle, officially referred to as an eVTOL (Electric Vertical Take-Off and Landing) aircraft. This groundbreaking innovation, part of the broader concept called Advanced Air Mobility (AAM), represents a major leap toward next-generation transport solutions. Such advancements appear crucial for Nepal due to its challenging terrain.
Exhibition and execution are quite different things. The opportunities it unlocks are exciting, while the path to operation is challenging. Meanwhile, a nuanced understanding of this novel technology, its developmental impacts and potential implementation challenges may turn expectations into reality.
Global landscape
AAM signifies a remarkable shift in aviation technology, with the potential to revolutionise the aviation sector. It can operate at lower altitude and shorter range, requires minimal infrastructure and maintenance, making it well-positioned to deliver cleaner, safer, quieter, flexible and cost-effective transport solutions compared to conventional means.
More than 267 cities and areas spanning 63 nations are either implementing or testing AAM programs. Commercial deployments are anticipated in countries including the United States, China, South Korea, France, Japan, and Saudi Arabia by 2026.
A wide variety of eVTOL aircraft types have already been developed. Alongside the setting up of vital infrastructures, such as vertiports, is also gaining pace. As of February 2025, 1,504 vertiports are planned globally, a sharp rise from 1,004 in September 2024, with China accounting for over 50 percent of all projects.
Leading aviation authorities of the world released a joint AAM roadmap in June 2025 to guide certification, coordination, regulation and social acceptance of air taxis and drone operations. South Korean company OPPAV’s manned-unmanned eVTOL ran a successful flight test in 2023 and Chinese Ehang’s EH216-S received certification for passenger use. This underscores the global momentum towards pilotless air mobility. Market forecasts also highlight substantial growth potential for AAM. The global AAM market was valued at USD 11.5 billion in 2024 and is expected to reach USD 73.5 billion by 2034.
Through regulated sandbox settings for trial flights and collaborations between private entities and government bodies involving leading eVTOL companies, world governments are backing advancements in Advanced Air Mobility. The bold NEOM urban development initiative in Saudi Arabia and Dubai’s preparedness through approved vertical takeoff and landing sites highlight the promise of this emerging technology.
Transformative potential
Connectivity in Nepal is severely hampered by its rugged and disaster-prone terrain. Dispersed rural settlements and unreliable transport infrastructures exacerbate the situation. Roads are often hard to build and maintain due to harsh topography and frequent disasters. Air travel remains crucial while affected by limited infrastructures, topography and weather constraints.
AAM offers a game-changing solution to the country’s transportation problems. It is an agile and environmentally friendly option that can bypass damaged or non-existent roads and operate in previously unreachable areas. It can improve healthcare, reducing fatalities via rapid deployment of medical supplies and personnel, including emergency medical evacuations.
The novel technology accelerates economic activities and growth, offering market access to local producers and farmers producing goods that often struggle to reach the market. It also supports tourism by establishing connectivity with previously isolated tourist attractions.
AAM can aid in disaster readiness and swift action through the rapid delivery of necessary supplies during emergencies. Aerial monitoring, real-time mapping, and fire-fighting abilities also improve efficient disaster management, reducing possible damages.
AAM vehicles produce zero emissions and operate more quietly, providing ecological benefits. In contrast to many nations that continue using harmful energy sources for power production, Nepal can utilize its rich hydropower resources to charge eVTOLs.
Apart from the transport revolution, AAM offers a platform for innovation and skills development. The youth population of Nepal makes it well-positioned to develop human capital in terms of AAM pilots, technicians and drone engineers.
Therefore, AAM presents groundbreaking possibilities for Nepal to surmount geographic challenges, enhance economic stability, and promote various Sustainable Development Goals.
Challenges to AAM adoption
Despite the promising prospects, the successful adoption of AAM in Nepal seems challenging. The absence of a legal and institutional framework, robust airspace management provisions and safety protocols, including pilot licensing for operating eVTOLs and autonomous aircraft, could hinder timely adoption.
Nepal might encounter difficulties when using eVTOLs at elevated altitudes to address its remote area accessibility requirements, since the majority of commercially available eVTOLs are built for use in city environments at lower elevations. In addition, factors like climate conditions and weather variations can influence both battery performance and lifting capability. Moreover, the restricted range and carrying capacity of present-day models could limit their effectiveness for extended or more demanding journeys across Nepal’s tough terrain.
The absence of essentials such as vertiports, reliable 5G connectivity, dedicated charging stations and robust electric grids, especially in rural and remote areas, could further delay the implementation and operation.
A lack of specialized knowledge and skilled personnel in AAM technologies poses a challenge for effective implementation. Developing local proficiency in cutting-edge aerospace technology, upkeep, and compliance matters will demand significant funding for learning and development programs.
In addition, as a relatively new technology, the initial expenses involved in acquiring airplanes, such as building facilities and educating staff, are anticipated to be substantial. This may influence financial choices and the ability of a nation with limited resources, like Nepal, to commit.
Limited public understanding of this new technology could lead to skepticism and hesitation in using air transportation services, whereas increasing knowledge will demand further financial resources.
What can Nepal do?
Given Nepal’s technical, financial and human resource constraints in the field of modern aviation, an incremental approach with extensive international collaboration is required to harness the full potential of AAM.
To ensure secure and effective implementation, it is essential to establish a specialized team within the Ministry of Culture, Tourism and Civil Aviation (MoCTCA), working alongside major sectoral departments to achieve coordinated efforts across different areas. A National AAM Strategy can outline an explicit schedule and arrange required resources. Utilizing existing reference documents such as the Asia-Pacific AAM Framework may aid in shaping regulations and oversight.
Global cooperation and involvement from the private sector are essential for unlocking the capabilities of AAM. Engaging regionally and globally with those who have adopted or pioneered AAM can drive progress. Collaborating with the private sector through tax benefits and legal frameworks may support technological innovation aligned with Nepal’s needs.
The government should focus on the implementation of pilot projects in collaboration between CAAN, Nepal Army, academic institutions and the private sector with regulatory sandboxes to ease testing in early stages. For initial deployment, we could prioritise medical logistics, disaster response.
To ensure preparedness of infrastructure, it is essential to design and fund vertiport facilities along with specialized charging points in key areas. Moreover, prompt funding of education initiatives for the required labor force is crucial for smooth implementation.
The anticipated display of eVTOL represents Nepal’s fascination with advanced transportation solutions, yet underscores the difference between ambition and preparedness.
by admin | Apr 21, 2025 | business, energy sector, investing technology, technology, technology trends
The engineers in Nigeria, through the support of the Nigerian Society of Engineers (NSE), have stated that the nation’s current food security issues might be addressed by utilizing digital technologies.
During her address at the third annual Engineer Lanre Sagaya Distinguished Lecture held by the NSE, Ilorin chapter, on Tuesday, with the theme “Addressing Food Security in Nigeria Through Digital Infrastructure: Prospects, Challenges and Way Forward,” Engineer Margaret Aina Oguntala, who serves as the President and Chairman-in-Council of the organization, highlighted how embracing digital technology could open up fresh avenues for expanding agriculture, optimizing distribution networks, and guaranteeing that food supplies reach all parts of the country.
The president of NSE mentioned that the topic of the lecture could not be timelier or more important, emphasizing that the matter of food security has become even more urgent amidst the worldwide economic downturn.
We can’t overlook the reality that food security stands as an essential cornerstone of national progress, and as engineers, it falls upon us to offer cutting-edge solutions to address this issue. The digital framework holds the power to revolutionize how we handle food production, distribution, and usage within Nigeria.
Through the use of digital technologies, we can uncover fresh chances for expanding agriculture, simplify logistics processes, and guarantee that sustenance arrives at all parts of our country.
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The guest lecturer, Engineer Dr. Umar Bindir—a previous advisor to President Muhammadu Buhari—stated that achieving food security involves leveraging technology, skill, and information to produce sufficient quantities of high-quality food items for the public at reasonable costs.
Bindir further stated that the country needs to enhance its dedication to ensuring food security, emphasizing that this objective will be met when scientists, experts, agricultural entrepreneurs, and various professionals collaborate to generate sufficient quantities of both plant-based and livestock-derived food for the population.
Additionally, the Chairman of the NSE, Ilorin chapter, Engineer Dr. Olusola Ogunjirin, stated that the yearly event known as the Distinguished Lecture Series functions as an essential forum for intellectual discussions, exchange of knowledge, and strengthening collaborations between engineers, policy makers, and sector heads.
“Every year, this lecture offers us crucial perspectives on current engineering difficulties and advancements that propel our nation’s progress,” he stated.
Dr. Ogunjirin said that the event was not just a lecture but a celebration of excellence, professionalism, and the remarkable contributions of Engineer Sagaya to the field of engineering and national development.
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by admin | Apr 21, 2025 | government, government regulations, laws and regulations, money, technology
In an effort to enhance service delivery and boost internal revenue generation for the government, the Bauchi State Internal Revenue Service (BIRS) has implemented and rolled out technological solutions into their operations.
As a result, to implement and refine the new initiative, the Board led by its Executive Chairman, Alhaji Mu’azu Umar, convened a roundtable discussion with several key stakeholders. During this meeting, certain common understandings were achieved.
Mu’azu who disclosed this in an interactive session with Journalists in Bauchi, stated that a meeting held between the Board and all the 20 LGCs Chairpersons was aimed to address major challenges especially of multiple taxation, thereby harmonizing collections and blocking leakages.
At present, various agencies are gathering revenues, and taxpayers often claim payment to specific entities without being able to verify either the exact amounts or timing. These issues will be addressed moving forward,” he stated. “We had an extensive conversation with the chairpersons who agreed with our stance.
The BIRS Executive Chairman stated that efficiency needs to be maintained throughout the procedure, noting that an automated system will be implemented since the capabilities at the state level surpass those available at the local government level.
As he stated, “Automation will be crucial, eliminating cash collection and doing away with the manual procedures involved in gathering and recording revenues.”
So, these measures will expedite the collection process, minimize losses, and simplify things since we aim to make it effortless for taxpayers. This way, their costs related to compliance will remain minimal. We planned to initiate this around late January and hope to commence it during this upcoming quarter starting in April, God willing.
The Executive Chairman highlighted numerous transportation unions along with several important stakeholders in the process of generating revenue. However, he mentioned that managing road taxes has posed significant difficulties for the Board historically. Despite these challenges, he conveyed his thanks to God as they are currently surmounting these obstacles.
“We encountered issues since there was no strict implementation of road taxes until recently, when Governor Bala Abdulkadir Mohammed launched the Bauchi State Road Traffic Agency BAROTA. The board is now collaborating with this agency to explore ways to enhance compliance with traffic rules within the state,” he mentioned additionally.
According to Mu’azu Usman, the BIRS has partnered with various transportation unions including NURTW, RTEAN, Achaba, and Keke Napep to implement regulations concerning road taxes. He mentioned that they have initiated weight billing and manifest systems through the collaboration of these unions.
“We are currently requiring updates from Achaba and Keke NAPEP operators to ensure accurate records. For the Keke NAPEP vehicles, we are implementing body numbering to identify those involved in this business effectively. This measure aims to enhance security, improve road safety, and increase revenue,” he stated.
Thus, the Executive Chairman expressed appreciation for the backing provided by State Governor Sen Bala Muhammad, acknowledging the conducive atmosphere he facilitated for the Board’s operations.
He urged the taxpayers to increase their efforts in making timely payments, as this would help the government deliver more benefits of democratic governance. He highlighted that from 2020 until now, all ongoing capital projects within the state have been funded solely through locally generated income.
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by admin | Apr 20, 2025 | consumer electronics, exhibitions, news, technology, technology industry
Where Creativity Intersects with Innovation: A Festival of Culture, Tech, and Supportive Patrons
At the intersection of tradition and modernity, LG Electronics shines brightly as a leading supporter of African arts during this year’s esteemed +234Art Fair. Held amidst the dynamic atmosphere of Nigeria’s thriving contemporary art landscape, the yearly event transcends mere display; it becomes a cultural phenomenon, bringing together creators, connoisseurs, and trendsetters for a collective tribute to creativity, legacy, and advancement.
Globally recognized for its innovative designs and advanced tech solutions, LG’s participation in the +234Art Fair marks a significant dedication to the flourishing artistic resurgence throughout Africa. This collaboration transcends typical business support; it offers a meticulously crafted encounter aimed at transforming the way art is experienced, valued, and actualized.
Digitally Enhanced Canvases Bringing Art to Life
Television is no longer just a window to the world—it is becoming the canvas for it. LG’s next-generation OLED displays are transforming walls into living galleries, where every brushstroke and burst of color is rendered with breathtaking clarity. At the +234Art Fair, these immersive displays elevate the viewing experience, allowing attendees to step into the very soul of African artistry.
Our support for the +234Art Fair is a testament to our belief in the transformative power of art,” said Mr.
Paul Mba
, serving as the Corporate Marketing Manager at LG Electronics Nigeria. Art and technology possess a shared essence: innovation. Through their integration, we’re crafting engaging experiences that strengthen our bond with artistic expression and cultural narratives.
A Fresh Start for Innovative Sponsorship
LG’s partnership with the event aligns perfectly with this year’s theme, Championing Patronage in Nigerian Art, providing artists more than just a stage; they also receive the resources needed for success. By incorporating advanced display technologies along with various programs such as mentoring workshops and roundtable conversations, the project extends well past mere showcasing. Instead, it develops into a comprehensive environment that fosters growth.
Tola Akerele
The founder of the +234Art Fair and Soto Gallery highlighted the event’s purpose: “Our aim is to realign Nigerian artists in the international art scene, providing them with the assurance and visibility needed to establish enduring careers. The fair focuses on culture, heritage, and the economic aspects of artistic expression.”
Crafting the Tomorrow of African Art
At its core, the +234Art Fair is a initiative that questions conventional ideas about supporting artists in Africa. LG’s participation highlights the importance of collaboration in this contemporary landscape—where artists are recognized as well as assisted in transforming their interests into enduring monuments. Through their workshops and mentoring programs, the brand offers valuable knowledge on managing an artistic career, enabling creators to earn from their skills and adapt to the changing international art scene.
As African artwork attracts enthusiasts globally, LG merges artistic expression with technological advancement, outlining an encouraging outlook for tomorrow. An era where tech enhances imagination rather than dominating it.
Whether displayed on gallery walls or illuminated through digital screens, LG is transforming our interaction with African art—ensuring each viewing feels like an extraordinary work of art and every experience becomes a vibrant tribute to cultural heritage.
To learn more about LG TVs, please go to
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by admin | Apr 20, 2025 | alternative energy, energy sustainability, engineering, science, technology
By Elizabeth PUNSU, Kumasi
The professor of chemistry and vice-dean of the Faculty of Physical and Computational Sciences at Kwame Nkrumah University of Science and Technology (KNUST), Prof. Nathaniel Owusu Boadi, has highlighted the significant impact that nanotechnology can have in promoting sustainable energy solutions in Ghana and throughout Africa.
During his Professorial Inaugural Lecture at KNUST, Professor Owusu Boadi highlighted that nanotechnology—which is frequently called ‘the science of the unseen’—is crucial for developing more effective, cost-efficient, and environmentally friendly energy solutions.
His lecture, titled
‘Heading towards inclusive renewable energy for everyone: utilizing the force of the unseen titans,’
tracked the development of nanomaterials from their early beginnings through to their advanced uses in contemporary energy solutions.
As he points out, nanotechnology has the potential to greatly boost the effectiveness of solar cells, increase battery efficiency, and refine fuel cell technology—elements crucial for shifting towards a more sustainable and robust energy industry.
“Even though Ghana and numerous African nations receive ample sunlight, access to solar power stays restricted because traditional silicon-based photovoltaic cells come at a steep price. However, nanomaterials present an encouraging substitute that might reduce expenses and boost effectiveness, thereby increasing the availability of solar energy,” he pointed out.
Professor Owusu Boadi urged the government to significantly increase investment in researching and developing nanomaterials for energy production.
He similarly called upon regulatory entities like the Environmental Protection Agency and the Ghana Standards Authority to develop scientifically grounded safety protocols for manufacturing, utilizing, and disposing of nanomaterials—ensuring these align with global best standards.
He also suggested forming a National Nanotechnology Research Center, which would be led by the Ministry of Environment, Science and Technology (MEST), working alongside the Ministry of Finance, educational institutions, and representatives from various industries.
He clarified that this center would promote locally developed innovations and help bring nanotechnology-based energy solutions to market, specifically addressing Ghana’s requirements.
Professor Owusu Boadi further emphasized the extensive uses of nanotechnology outside the realm of energy. Within the medical field, nanomaterials aid in early detection via improved diagnostic imagery and assist in regenerating tissues.
In environmental science, these applications are employed for purifying water and cleaning up hazardous waste. Additionally, the electronics sector benefits from more efficient semiconductors, as well as precise sensors; meanwhile, the textiles industry profits from smarter and antimicrobial fabrics.
Moreover, Professor Owusu Boadi noted that although Ghana has achieved significant progress in electrification with an 85.1% access rate as of 2022, numerous rural areas continue to struggle with unreliable power supply.
In Sub-Saharan Africa, approximately 600 million individuals still lack access to electricity. He stated that this disparity represents not only a challenge but also numerous opportunities.
“Through investment in nanotechnology, Ghana has the potential to spearhead the creation of sustainable, domestically-generated energy solutions. These efforts could not only bridge this gap but also establish the nation as a center for environmentally-friendly innovation,” he highlighted.
Professor Nathaniel Owusu Boadi – a chemistry professor and the Vice-Dean of the Faculty of Physical and Computational Sciences at KNUST.
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