KARACHI: Alraedah Digital Solutions, a leading Saudi technology company, announced on Thursday it was entering into a strategic partnership with Pakistani fintech ABHI to launch “innovative” financial services in the Kingdom.
Alraedah Digital Solutions, the digital arm of Alraedah Digital Group, focuses on innovation and digital transformation to empower businesses and individuals through cutting-edge solutions in finance and technology.
ABHI is a Pakistani fintech company that provides innovative finance solutions to businesses and their employees. Last year, it was selected as one of the Future 100 companies of the United Arab Emirates.
Founded in 2021, ABHI has been serving customers in Pakistan, UAE, and Bangladesh through its credit-bridging products. These include Earned Wage Access, Invoice Factoring, SME Working Capital & Revenue Based Financing, and Payroll Solutions.
“Under the terms of the agreement, Alraedah will leverage ABHI’s robust capabilities to launch a set of innovative financial services in KSA,” the Saudi company said in a press release.
The statement said as per the terms of the agreement, ABHI will gain access to Alraedah’s knowledge and understanding of the local Saudi market. This would enable it to collaboratively launch innovative financing products in Saudi Arabia.
“Alraedah will enable access to $200 million over the course of three years to develop products that apply ABHI’s proprietary technology, localized for the Saudi market,” the press release said.
The Pakistani fintech says it has a client base of over 1,000 esteemed companies and actively promotes financial empowerment and provides stability to over 750,000 employees across the region.
“With our innovative financial solutions and Alraedah’s deep local expertise, we are poised to empower Saudi citizens, embolden the private sector, and foster a more vibrant, thriving economy,” Omair Ansari, co-founder and CEO of ABHI, was quoted as saying.
Paul Melotto, CEO of Alraedah Digital Solutions, said both companies aim to redefine access to financial services and empower individuals and businesses across the region.
“Together, we aim to redefine access to financial services and empower individuals and businesses across the region,” he said.
Saudi tech company partners with Pakistan’s ABHI to launch financial services in Kingdom
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Saudi tech company partners with Pakistan’s ABHI to launch financial services in Kingdom
- ABHI, which also serves customers in UAE, was selected as one of Gulf country’s Future 100 companies last year
- Saudi tech company says partnership to empower Kingdom’s citizens, embolden private sector and foster economic growth
Pakistan interior minister meets US envoy, conveys ‘serious concerns’ over India strikes
- Meeting takes place amid soaring tensions after India said it struck Pakistani sites that served as militant recruitment centers
- Several countries including US, Turkiye, China, UAE, UK and others have called on both sides to show restraint, avoid escalation
ISLAMABAD: Interior Minister Mohsin Naqvi met Acting US Ambassador Natalie Baker on Wednesday to convey his country’s “serious concerns” over India’s military strikes inside Pakistani territory and its implications for regional peace, state-run Associated Press of Pakistan (APP) said.
Several countries have called for calm between India and Pakistan amid soaring tensions in South Asia, following Indian attacks on six locations inside Pakistan on Wednesday. Islamabad said Indian strikes killed at least 26 civilians and injured 46. In response, Pakistan claimed to have downed five Indian fighter jets and struck Indian military posts along the Line of Control.
Naqvi met Baker in Islamabad to provide her a “comprehensive” briefing in the aftermath of the Indian strikes and evolving security situation in South Asia, APP reported. US Political Counselor Zachary Harkenrider and Pakistan’s Minister of State for Interior Tallal Chaudhry were part of the meeting.
“During the meeting, Minister Naqvi gave a comprehensive briefing to the US delegation on the aftermath of the Indian aggression, expressing Pakistan’s serious concerns over the incident and its implications for regional peace,” APP said.
Naqvi accused India of putting South Asia’s peace and stability at stake, APP said. He further stressed “India has torn apart regional harmony and by targeting civilians, it has blatantly violated international laws.”
Naqvi said Pakistan had acted responsibly and showed maximum restraint in the face of Indian provocation.
“We gave a strong and appropriate response in defense of our homeland,” Naqvi was quoted as saying. “Pakistan will never allow any compromise on its national security.”
INTERNATIONAL REACTION
US President Donald Trump had reacted to the incident on Wednesday night, condemning the escalation, expressing hope that the fighting would end quickly.
“It’s a shame,” he said. “Just heard about it. I guess people knew something was going to happen based on a little bit of the past. They’ve been fighting for a long time. They’ve been fighting for many, many decades. I hope it ends very quickly.”
Meanwhile, US Secretary of State Marco Rubio said he was monitoring the situation closely and would continue to engage with the leadership of both countries for a “peaceful resolution.”
A Chinese foreign ministry spokesperson said India’s actions were “regrettable,” urging both countries to exercise restraint and refrain from further complicating the situation, Reuters reported.
United Arab Emirates Foreign Minister and Deputy Prime Minister Abdullah bin Zayed bin Sultan Al Nahyan called on Pakistan and India “to exercise restraint, de-escalate tensions, and avoid further escalation that could threaten regional and international peace,” Emirates News Agency-WAM reported.
Turkiye urged India and Pakistan to act with common sense amid the military escalation between them, its foreign ministry said on Wednesday, saying India’s latest military action created the risk of an “all-out war.”
In a statement, the ministry reiterated its support for Pakistan’s call for an investigation into a militant attack that killed 26 in the Indian-administered side of the Himalayan region on April 22.
The UK is ready to support both India and Pakistan to de-escalate tensions, Trade Secretary Jonathan Reynolds said on Wednesday, following the worst violence between the nuclear-armed arch-foes in two decades.
“Our message would be that we are a friend, a partner to both countries. We stand ready to support both countries. Both have a huge interest in regional stability, in dialogue, in de-escalation and anything we can do to support that, we are here and willing to do,” he told BBC radio.
Pakistan warns of rainfall, storms in Punjab from May 7-11
- Authorities advise citizens to stay indoors and in safe places during rainfall and storms
- Rain with strong winds predicted in Rawalpindi, Murree, Galiyat region and other districts
ISLAMABAD: The Punjab Provincial Disaster Management Authority (PDMA) on Wednesday warned of rainfall and thunderstorms across the country’s eastern province from May 7-11, an alert issued by the authority said.
Pakistan is highly vulnerable to climate change, facing numerous impacts like rising temperatures, increased frequency of extreme weather events, and changes in agricultural patterns. The country’s vulnerability is exacerbated by factors like reliance on the Indus River, which is fed by melting glaciers and its location in a region prone to floods and droughts.
“Dusty winds and thundershowers are likely in most districts of Punjab from May 7-11,” the PDMA said in a statement. “Rain with strong winds is predicted in Rawalpindi, Murree, Galiat, Attock, Chakwal, Mandi Bahauddin, Gujrat, Jhelum and Gujranwala.”
The authority added that there were chances of rainfall in Lahore, Kasur, Sialkot, Narowal, Okara, Faisalabad, Toba Tek Singh, Jhang, Khushab, Sargodha and Mianwali.
Rainfalls and hailstorm were also predicted in South Punjab, Multan, Dera Ghazi Khan, Bahawalpur and Bahawalnagar between May 8-10, the PDMA said.
Director General PDMA Irfan Ali Kathia confirmed that an alert was issued to the district administrations including the education, health, irrigation, construction, livestock and police departments.
The PDMA alert advised citizens to stay indoors and in safe places during rainfall and contact the PDMA’s 1129 helpline for any assistance.
In early April, a severe hailstorm and heavy rainfall lashed Pakistan’s capital Islamabad and its surrounding areas, damaging thousands of vehicles and smashing the windows of homes.
Experts say there is evidence suggesting a link between climate change and increased hailstorm frequency and intensity. While the exact relationship is still being studied, a warming climate can create conditions more conducive to large hail formation.
Airlines cancel, reroute flights after India-Pakistan clashes
- India launched missile strikes in Pakistani territory on Wednesday night in response to deadly attack last month
- Flights of Korean Air, Taiwan’s China Airlines, Russian national carrier Aeroflot and others rerouted or canceled
BANGKOK: Clashes between nuclear-armed India and Pakistan on Wednesday sent airlines scrambling to cancel, divert or reroute flights.
The neighbors and longtime rivals exchanged heavy artillery fire along their contested frontier after India launched missile strikes in retaliation for a deadly attack last month.
Here is a round-up of what airlines are doing to avoid flying over the conflict zone.
Korean Air has begun rerouting its flights from Seoul Incheon to Dubai, using a southern route that passes over Myanmar, Bangladesh and India, instead of the previous path through Pakistani airspace.
“We are currently monitoring the situation for further changes,” a Korean Air official told AFP.
Taiwan’s China Airlines said several flights have been diverted or canceled.
Two flights from Taipei to Frankfurt and Amsterdam “made a technical diversion to Bangkok” before returning to the Taiwanese capital.
Three flights from Taipei to Prague, Rome and London were canceled on Tuesday and Wednesday.
“China Airlines continues to monitor the situation and will adjust flight schedules as needed,” it said.
EVA Air said it will adjust flights to and from Europe “based on actual conditions to avoid affected airspace to ensure the safety of crew members and passengers.”
A flight from Vienna to Bangkok will return to the Austrian capital while a flight from Taipei to Milan will be diverted to Vienna for refueling and then continue to the Italian city, the airline said in a statement.
Russian national carrier Aeroflot said all its flights from Moscow to and from India, Thailand, Sri Lanka, the Maldives, and the Seychelles would be rerouted.
Singapore Airlines said its flights have been rerouted to avoid Pakistani airspace.
Malaysia Airlines rerouted two flights from Kuala Lumpur — one to London Heathrow and one to Paris Charles de Gaulle. They stopped in Doha before continuing their journeys.
The carrier also suspended all flights to and from India’s Amritsar until May 9.
Thai Airways said it was rerouting flights to destinations in Europe and South Asia from 5:00 am on Wednesday (2200 GMT Tuesday) to avoid Pakistani airspace, warning of possible delays.
At least eight flights to European cities were affected, the airline said, while a return flight scheduled to go from Bangkok to Islamabad and back again on Wednesday was canceled.
Sri Lankan Airlines said its flights were unaffected and there is no change to its four weekly flights to Pakistan’s Lahore and Karachi.
Pakistan’s top court allows military trials of civilians accused of attacking army sites — media
- Decision follows a legal battle sparked by violent protests on May 9, 2023, by ex-PM Khan’s party
- The court has directed the government to legislate within 45 days to provide a right of appeal
ISLAMABAD: Pakistan’s top court on Wednesday reinstated the Army Act in its original form and overturned its earlier ruling that had blocked military trials for civilians accused of attacking military installations, according to the local media reports.
The decision follows a legal battle sparked by violent protests on May 9, 2023, when supporters of jailed former Prime Minister Imran Khan stormed military facilities across Pakistan and set some of them on fire after his brief arrest on graft charges.
Subsequently, dozens of people were arrested and prosecuted in military courts, triggering constitutional challenges from rights groups and activists, as Khan’s Pakistan Tehreek-e-Insaf (PTI) party vocally opposed the trials.
“The Supreme Court of Pakistan has reinstated the Pakistan Army Act in its original form and declared its earlier verdict from October 23, 2023, null and void,” Geo News reported.
“The apex court delivered the verdict with a 5-2 majority,” it added. “Justices Jamal Khan Mandokhail and Naeem Akhtar Afghan dissented.”
The ruling restores previously nullified clauses of the Army Act that allow civilians to be tried in military courts under certain circumstances.
The court also directed the government to legislate within 45 days to provide a right of appeal for any convictions handed down by military courts, Geo News said.
Khan’s PTI, whose supporters were among those arrested after the May 2023 protests, condemned the ruling.
“The constitutional bench of Supreme Court of Pakistan has just given the government’s petition a go by allowing military trial of civilians,” the party said in a statement. “The purpose of military law is to maintain discipline within the armed forces. It was never designed to be applied to civilians.”
The previous Supreme Court ruling in October 2023, delivered by a five-judge panel, had declared that trying civilians in military courts violated constitutional rights to a fair trial and due process. That decision was welcomed by rights groups and legal experts as a step toward strengthening judicial independence and limiting the military’s influence over civilian legal matters.
The government and the defense ministry appealed the verdict, citing national security concerns and the need to hold accountable those who attacked military installations.
Residents of Pakistani Kashmir say they fled into hills during Indian strikes
- Mosque loudspeakers told people to seek shelter as ground shook, sounds of explosions reverberated, residents say
- Many people gathered after sunrise near a mosque that had been hit in the strikes, its roof smashed and minaret toppled
MUZAFFARABAD: Residents of Muzaffarabad, the capital of Azad Kashmir, said they fled their homes and ran into surrounding hills as India launched airstrikes early on Wednesday in a part of the city.
Mosque loudspeakers told people to seek shelter as the ground shook repeatedly and the sounds of explosions reverberated, they said.
“We came outside,” said Muhammad Shair Mir, 46, describing the events of the night. “Then another blast happened. The whole house moved. Everyone got scared, we all evacuated, took our kids and went up (the hill).”
Many people gathered after sunrise near a mosque that had been hit in the strikes, its roof smashed and minaret toppled. Security forces had cordoned off the area.
The district commissioner, a senior local official, said three people were killed near the collapsed mosque. In total, Pakistan’s military said 26 people were killed and 46 wounded in Indian attacks across Pakistan and Pakistani Kashmir, which is called Azad Kashmir.
India launched the strikes early on Wednesday, saying it was targeting “terrorist camps” that served as recruitment centers, launchpads, and indoctrination centers, and housed weapons and training facilities.
Pakistan called it a “blatant act of war” as tensions spiraled between the nuclear-armed rivals after a deadly attack by Islamist gunmen on tourists in Indian Kashmir. It said none of the targeted areas were militant camps.
District officials said that at the Line of Control that divides Pakistani and Indian Kashmir, mortar and light arms fire between the two armies continued into the morning and had killed at least six civilians on the Pakistani side.
Police in Indian Kashmir said at least 10 people were killed and nearly 50 injured there.
In Muzaffarabad, hospitals were operational and some small businesses opened in the morning but schools were closed and examinations canceled, according to local authorities.
Shair Mir said he and his family spent four hours in the open. Some of his neighbors had gone to hospital with injuries and the rest were shaken, he said.
“This is wrong ... poor innocent people, our poor mothers are sick, our sisters are sick .. our houses were rattled, our walls have cracked,” he said.
