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Express Tribune
6 days ago
- Business
- Express Tribune
City's first electric train rolls out
Pakistan's first Super Autonomous Rapid Transit (SART) electric train undergoes a successful trial run from Ali Town to Muslim Town, marking a new chapter in eco-friendly urban commute. PHOTO: NNI Punjab Chief Minister Maryam Nawaz Sharif on Tuesday oversaw the trial run of Pakistan's first urban electric train — the Super Autonomous Rapid Transit (SART) system. The chief minister monitored the road test from Ali Town to Muslim Town in Lahore, inspecting onboard facilities and observing the transit system's performance amidst regular city traffic. The event drew excitement from onlookers along the Raiwind and Canal Roads. Provincial Transport Minister Bilal Akbar Khan briefed the CM on the technical features of the electric train manufactured by Norinco International. The transit system comprises three air-conditioned coaches with capacity for 320 passengers. Designed for urban commuting, the fully electric train can travel up to 40 kilometres on a single charge. A fourth coach may be added in future configurations. The system, already operational in Turkey, China, and the United Arab Emirates, is being introduced in Pakistan as part of a push for environment friendly modernised transport. The government touts the initiative as a step forward in reducing traffic congestion and air pollution. "This project is not just about transportation — it's a symbol of progress," Chief Minister Maryam Nawaz said during the visit. "Every day now brings good news for the people of Punjab. The SART will enhance Lahore's beauty and connectivity, and similar projects are in the pipeline for Gujranwala and Faisalabad." In a related development, the chief minister announced the rollout of 1,100 electric buses across Punjab. These buses, which will serve both major cities and towns, will charge a fare of Rs20, aiming to make sustainable transport accessible to a broader population. Speaking later at a ceremony under the "Apni Chhat Apna Ghar" initiative, the chief minister reaffirmed her administration's commitment to addressing public service gaps. She pledged to end water shortage across the province within a year through major infrastructure investments. Additionally, she noted the reinstatement of free medicines for the public, reporting that 95 per cent of patients now receive medications at no charge. Specific programmes include home delivery of tuberculosis medicines and insulin for children. She said efforts to expand community health access were under way through the Clinic on Wheels programme, which was delivering free primary care to neighbourhoods.
Express Tribune
03-08-2025
- Business
- Express Tribune
In 2nd accident Pak Business Express derails in Lahore
Railway workers toil to restore the track near Kala Shah Kaku, where the Islamabad Express derailed — a crash that injured dozens and narrowly avoided a worse tragedy. Rail operations were restored on Saturday after safety clearance. Photo: NNI Pak Business Express derailed on Saturday near the washing line area in Lahore, just days after it was inaugurated by Prime Minister Shehbaz Sharif. According to Express News, the derailment has not yet been attributed to a specific cause. Railway officials said the train went off track in the early hours, prompting the immediate dispatch of rescue teams. No casualties or injuries were reported in the incident. The premier had inaugurated the Pak Business Express at the Lahore Railway Station earlier this week. Designed to meet international standards of comfort and service, the train marked a significant upgrade from traditional railway offerings. Meanwhile, the railway track near Kala Shah Kaku was restored on Saturday, and a fitness report was issued accordingly. On Friday, over 150 passengers were injured when five coaches of the Islamabad Express overturned near Kala Shah Kaku railway station — just 15 kilometres from Lahore - in a terrifying derailment that narrowly avoided plunging the train into a ravine. The train, en route from Lahore to Rawalpindi with hundreds of passengers aboard, met with the accident near the rugged terrain surrounding Kala Shah Kaku. It took over 17 hours to repair the 770-foot damaged section of track, with more than 400 laborers using traditional tools to manually install track joints. Among the injured was Fazal Rahim, a resident of Swat, currently receiving treatment at THQ Hospital Muridke. Speaking to media, he recounted the moments leading to the derailment, saying: "The train was speeding excessively. Even near Shahdara, there were noticeable jolts. When we reached Kala Shah Kaku, the accident happened. There was darkness, panic, and screams everywhere. It was terrifying." Expressing his frustration, Fazal added, "The world has moved on to bulletproof, high-speed trains, but our system remains the same, an absolute tragedy. It's the government's responsibility to provide the people with better facilities, but it's failing miserably." Preliminary findings The derailment of the Islamabad Express near Kala Shah Kaku has been attributed to a rail fracture, a preliminary joint investigation report revealed on Saturday. The accident occurred near Shahdara Station, where the track was found to be severely damaged. Investigators revealed that the derailment was caused by a "fresh breakage off the rail," suggesting that the condition of the track was fragile at several points along the route. The joint report confirmed that the train went off track due to a broken rail joint, with sections of the track visibly fractured at the crash site. It further noted that the fragile condition of the railway lines contributed to the derailment. In response to the incident, the Ministry of Railways has constituted a three-member inquiry committee to determine the full cause of the accident and assign responsibility. The committee comprises Additional General Manager Infrastructure Hammad Raza, Chief Mechanical Engineer Carriage Yusuf Laghari and Director Civil Works Arif ur Rehman. The committee has been directed to submit a comprehensive inquiry report to the Ministry of Railways within seven days. Meanwhile, an initial report has already been submitted to Railways Minister Hanif Abbasi. It confirms that the derailment was triggered by a broken joint. However, it adds that further aspects of the incident will be examined in the detailed inquiry. Over 150 passengers were left injured on Friday when five coaches of the Islamabad Express passenger train overturned near Kala Shah Kaku railway station, just 15 kilometres from Lahore, in a terrifying derailment that narrowly avoided plunging the train into a ravine. The train, en route from Lahore to Rawalpindi with hundreds of passengers aboard, met with the accident near the rugged terrain surrounding Kala Shah Kaku. According to injured passengers, the sudden jolts began as the train crossed the stretch near the station, causing five rear coaches to veer off the eastern side of the track and overturn. Meanwhile, the locomotive dragged four passenger coaches over 500 metres off the rails before coming to a halt.
Express Tribune
20-07-2025
- Sport
- Express Tribune
Karachi women rope in tug of war trophy
Karachi women emerge champions in the seventh Inter Division Tug of War Championship held in Hyderabad, showcasing their strength and spirit for sports under the Sindh government's Dept of Youth Affairs. PHOTO: NNI The two-day Seventh All Sindh Inter-Division Women Tug of War Championship was held under the auspices of the Sindh Government's Sports and Youth Affairs Department, and the Sindh Olympic Association. Six teams from across the province participated in the championship, with a total of 84 players, including 12 from each region. Additionally, 12 team officials and 12 technical officials helped in organising the event. Karachi secured first position, followed by Mirpurkhas in second place and Hyderabad in third. Trophies, medals, and certificates were distributed among the teams that showed excellent performance. On this occasion, District Sports Officer Maryam Kerio said that organising sports activities for women in such competitions not only improves their physical fitness but also becomes a means of promoting self-confidence, teamwork and leadership skills. She added that the Sindh government is providing all possible facilities to increase the participation of girls in sports, and in this regard, such events will continue to be organised.
Yahoo
01-07-2025
- Business
- Yahoo
3 Financial Stocks to Buy Now on Core PCE Coming in High
The May 2025 Personal Consumption Expenditures (PCE) inflation report, released at the end of June, has reinforced expectations that the Fed will remain hawkish well into the second half of the year. With core PCE inflation rising approximately 0.22% month over month and 2.68% year over year, markets have recalibrated their outlook for interest rates, pushing out anticipated cuts and increasing the likelihood of sustained higher borrowing costs. One of the most immediate consequences has been the upward movement in Treasury yields. The benchmark 10-year yield climbed from roughly 3.35% to about 3.45% on the core PCE coming in hotter than expected. As bond markets react to the sticky inflation data, long-duration yields have been climbing, reflecting investors' belief that rate cuts are no longer imminent. For commercial banks, the steepening yield curve may offer some relief by improving net interest margins. In an environment where interest rates are not going to come down rapidly, stocks like Nelnet, Inc. NNI, Pagaya Technologies Ltd. PGY and United Fire Group, Inc. UFCS become viable investment options to look into. When interest rates are relatively high, banks and other financial institutions generally see increased profitability due to increased lending rates. The gap between such lending rates is considered a long-term asset for banks. Also, short-term liabilities such as deposits increase and boost net interest margins. Bank stocks, insurance companies and other financial institutions tend to go up with continuous interest rate hikes. This is because financial services companies can earn more on the money and the credit they issue to their customers. The sector was a strong performer in 2024, delivering solid returns. It has continued to prosper in 2025, with the S&P 500 Financials Select Sector SPDR (XLF) soaring 9.1% year to date as of June 30. Also, financial stocks are very popular investments on their own. Most companies within the sector issue dividends and are judged on the overall strength of their financial health. It is thus prudent to add a few to one's portfolio. The stocks below flaunt a Zacks Rank #1 (Strong Buy) or Rank #2 (Buy). The search was also narrowed down with a VGM Score of A or B. Here, V stands for Value, G for Growth and M for Momentum. The score is a weighted combination of these three metrics. Such a score allows you to eliminate the negative aspects of stocks and select winners. You can see the complete list of today's Zacks #1 Rank stocks here. Nelnet is a loan servicing, education technology services and payment businesses company. NNI's expected earnings growth rate for the current year is 59%. The Zacks Consensus Estimate for its current-year earnings has improved 16.8% over the past 60 days. This Zacks Rank #1 company has a VGM Score of B. Pagaya Technologies provides data science and proprietary artificial intelligence-powered technology for the financial services sector. PGY's expected earnings growth rate for the current year is 195.2%. The Zacks Consensus Estimate for its current-year earnings has improved 39.2% over the past 60 days. This Zacks Rank #1 company has a VGM Score of B. United Fire Group is a property and casualty insurance company. UFCS' expected earnings growth rate for the next year is 8%. The Zacks Consensus Estimate for its current-year earnings has improved 3.3% over the past 60 days. This Zacks Rank #2 company has a VGM Score of B. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Nelnet, Inc. (NNI) : Free Stock Analysis Report United Fire Group, Inc (UFCS) : Free Stock Analysis Report Pagaya Technologies Ltd. (PGY) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Express Tribune
29-06-2025
- Politics
- Express Tribune
Kashmir struggle legitimate: COAS
The passing-out parade of 127 midshipmen is being held in Karachi. PHOTO: NNI Chief of Army Staff Field Marshal General Syed Asim Munir has said that India's portrayal of the Kashmiri freedom movement as terrorism is misleading, describing it instead as a legitimate and lawful struggle recognised under international law. "What India labels as terrorism is, in fact, a legitimate and lawful struggle for freedom, recognised by international law," said Field Marshal Asim Munir. Speaking at a commissioning parade held at the Pakistan Naval Academy on Saturday, the army chief urged the nation to remember the sacrifices of the Kashmiri people resisting India's "illegal occupation" of Jammu and Kashmir. "At such a time, we must not forget the sacrifices of our Kashmiri brothers who are struggling against Indian occupation," he said. He accused India of deliberately escalating regional tensions just as Pakistan nears success in its fight against terrorism. Munir reaffirmed Pakistan's resolve to eliminate terrorism. "We will take our fight against terrorism to its logical conclusion and rid the country of this menace once and for all," he declared. Reiterating Pakistan's longstanding stance on Kashmir, the army chief said, "Pakistan strongly supports a fair and peaceful solution to the Kashmir issue in line with UN resolutions and the aspirations of the Kashmiri people." He paid tribute to all martyrs who have laid down their lives in Indian-occupied Jammu and Kashmir for the cause of freedom, and saluted the courage of those who continue the struggle. The COAS asserted that India's oppressive tactics cannot break the will of the Kashmiri people. Pakistan will continue to offer unwavering political, moral, and diplomatic support to Kashmiris. Quoting from Surah Al-Imran, verse 54 "They plotted, and Allah also planned, and Allah is the best of planners".
