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Category: 3. Business

  • Dr Syed Amir Ali appointed CEO of Meezan Bank

    Meezan Bank Limited has appointed Syed Amir Ali as its President and Chief Executive Officer (CEO) with effect from December 30, 2025, according to a formal notice issued to the Pakistan Stock Exchange (PSX) on Tuesday.

    “We have to inform you that Dr. Syed Amir Ali has been appointed as the President & Chief Executive Officer of Meezan Bank Limited with effect from December 30, 2025, in place of Mr. Irfan Siddiqui, Founding President & Chief Executive Officer,” read the notice. 

    He succeeds Irfan Siddiqui, who served as the bank’s founding President and CEO and played a central role in establishing Meezan Bank as Pakistan’s largest Islamic bank and a key player in the global Islamic finance industry.

    The bank’s board of directors placed on record its appreciation for Siddiqui’s contributions, citing his leadership in building the foundations of Islamic banking in Pakistan and steering the institution through a sustained period of growth and expansion.

    Meezan Bank said Siddiqui will continue to serve as a member of its board of directors following the leadership transition.

    According to Meezan Bank, Dr Syed Amir Ali had been serving as Deputy Chief Executive Officer and CEO-designate prior to his appointment as President and Chief Executive Officer. He holds a PhD in Business Administration, earned after completing advanced coursework and original research.

    His doctoral research, titled “SME Financing through the Islamic Digital Banking Ecosystem,” examined how the integration of digital platforms with Shariah-compliant financial models can improve access to capital for small and medium enterprises in emerging economies, including Pakistan. 

    Dr Amir Ali has extensive experience across finance, treasury, investment and corporate banking, having worked with domestic and international organisations including A.F. Ferguson & Co, Shell, BankIslami Pakistan Limited and Meezan Bank. During his earlier tenure at Meezan Bank, he led the corporate and investment banking group before moving to BankIslami in 2018, where he served as President and Chief Executive Officer.

    His academic and professional credentials include qualifications as a Chartered Accountant, CFA charterholder, MBA and LL.B., along with certification in software engineering. He is also an alumnus of the Advanced Management Program at Harvard Business School.


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  • Academic Session on “Higher Education in Australia: Career Pathways in a Global Economy”

    Academic Session on “Higher Education in Australia: Career Pathways in a Global Economy”

    The Department of Economics has successfully organized an informative academic session titled “Higher Education in Australia: Career Pathways in a Global Economy” on Tuesday, 23 December 2025, from 4:30 PM to 5:30 PM. The session was held at the Media Studio, Annex 2, Level 2, AIUB, with the objective of familiarizing students and faculty members with global higher education opportunities, particularly in Australia.

    The session was conducted by Dr. Enamul Hoque, Senior Lecturer at the School of Population and Global Health, The University of Western Australia. Drawing on his extensive academic and international experience, Dr. Hoque provided a comprehensive overview of Australia’s higher education system, emphasizing its global recognition, research excellence, and student-centered learning environment. He highlighted various academic pathways for international students, including undergraduate, postgraduate, and research opportunities, and explained how these pathways align with the evolving demands of the global labor market.

    Dr. Hoque also discussed a wide range of global career opportunities and professional prospects, underscoring the importance of international exposure, interdisciplinary skills, and global networking in enhancing employability in an increasingly interconnected global economy. Furthermore, he addressed emerging trends in global education, such as international collaboration, cross-border research, and the growing significance of fields like global health, sustainability, and data-driven disciplines. He concluded by offering practical guidance on building strong academic profiles and developing successful international academic and career trajectories.

    The session was attended by Head of the Department of Economics, Dr. Faria Sultana, along with other respected faculty members of the Department of Economics, Public health and Social Sciences. Their participation contributed to the academic significance of the session and encouraged meaningful discussion and interaction. Overall, the event provided an engaging platform for knowledge sharing on international higher education and global career development, reaffirming AIUB’s commitment to fostering global perspectives among its academic community.

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  • NT Environment Protection Authority orders Santos, Inpex licence conditions review

    NT Environment Protection Authority orders Santos, Inpex licence conditions review

    The Northern Territory environment regulator is re-examining the licence conditions of major gas facilities in Darwin, after one of its biggest operators admitted to under-reporting toxic emissions.

    In October, Inpex revealed it drastically under-reported several emissions in the 2023–24 financial year at its Ichthys onshore gas processing facility, including a 13,000 per cent increase in levels of benzene — a known carcinogen.

    Levels of benzene remained high in the 2024–2025 reporting year.

    The oil and gas giant has maintained levels of emissions were well within government guidelines and posed no increased health risk to the community or workers — though the error has triggered an ongoing investigation by the federal and NT governments.

    In November, workers at Inpex spoke out against the company, alleging they were exposed to potentially dangerous air pollutants.

    Last Tuesday, in a joint statement with the NT chief health officer, Paul Burgess, the NT Environment Protection Authority (NT EPA) said following an independent review of Inpex’s emissions data, it had ordered a review of the gas facility’s licence conditions “to ensure they adequately address human health risks from air emissions”.

    That includes Inpex’s Ichthys facility and Santos’s Darwin LNG facility.

    On Monday, Inpex’s senior vice-president Bill Townsend said the company was “firmly committed to the safety of our people and the community, the protection of the environment, and the continued safe operations of Ichthys LNG”.

    Santos declined to comment.

    Calls for an independent, ‘modern’ review 

    Melissa Haswell, a professor of health, safety and environment at the Queensland University of Technology, said the renewed scrutiny was a “positive step”.

    “It’s a step towards gaining more trust from the community that the NT EPA is taking this seriously,” she said.

    “But we’ll see what the outcomes are, how they do it, and whether they allow the community to know what’s in the air they’re breathing.”

    Professor Haswell said the review needed to be “modern” and must take seriously the potential health impacts of chemicals released from gas facilities, particularly given their close proximity to Darwin’s population.

    “To have such a major error go without a very, very comprehensive follow-up would be just unthinkable,” she said. 

    Professor Haswell said an updated literature review was essential to determine what constituted safe levels of exposure to the chemicals, and that the reviews must be carried out by highly skilled, independent experts.

    Santos’s Darwin LNG tank is set to be filled again as part of Santos’ Barossa gas project. (ABC News: Pete Garnish)

    In its statement, the NT EPA said it had engaged “air quality expert consultants” to review Inpex’s emissions data “to ensure accuracy and completeness”. 

    “The draft review was provided to the department on 17 December and is now nearing completion. It will inform further requirements for Inpex to address,” the statement said. 

    “To safeguard community health outcomes and provide evidence-based assurance, the chief health officer commissioned an independent human health risk assessment. The independent assessment will be completed in the new year.”

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  • Silver price in Pakistan for today, December 30, 2025 – Profit by Pakistan

    1. Silver price in Pakistan for today, December 30, 2025  Profit by Pakistan
    2. Gold scales new peak amid nil imports  Dawn
    3. Gold price drops by Rs5,500 per tola in Pakistan  Business Recorder
    4. Gold price in Pakistan for today, December 29, 2025  Profit by Pakistan
    5. ‘FOMO’ fuels gold rally  The Express Tribune

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  • Foreign exchange rates in Pakistan for today, December 30, 2025 – Profit by Pakistan

    1. Foreign exchange rates in Pakistan for today, December 30, 2025  Profit by Pakistan
    2. Rupee gains 1.8pc in July-December  Dawn
    3. Rupee inches up against US dollar  Business Recorder
    4. Currency Exchange Rates in Pakistan Today – USD to PKR – Open Market Rates – 30 Dec 2025  Daily Pakistan
    5. Currency rates of NBP  Associated Press of Pakistan

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  • Gold price in Pakistan for today, December 30, 2025 – Profit by Pakistan

    1. Gold price in Pakistan for today, December 30, 2025  Profit by Pakistan
    2. Gold price drops by Rs10,700 per tola in Pakistan  Business Recorder
    3. Gold drops Rs10,700 on global profit-taking  The Express Tribune
    4. Silver price in Pakistan for today, December 31, 2025  Profit by Pakistan
    5. Gold scales new peak amid nil imports  Dawn

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  • Divergent trends in demographic and socioeconomic inequalities of global wildfire and compound hazard exposures

    Divergent trends in demographic and socioeconomic inequalities of global wildfire and compound hazard exposures

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  • China plans rules to protect children and tackle suicide risks

    China plans rules to protect children and tackle suicide risks

    Osmond ChiaBusiness reporter

    Getty Images A young girl with a pony tail is watching social media videos on a three fold mobile phone at Huawei's world's largest flagship store in Shanghai, ChinaGetty Images

    China has proposed strict new rules for artificial intelligence (AI) to provide safeguards for children and prevent chatbots from offering advice that could lead to self-harm or violence.

    Under the planned regulations, developers will also need to ensure their AI models do not generate content that promotes gambling.

    The announcement comes after a surge in the number of chatbots being launched in China and around the world.

    Once finalised, the rules will apply to AI products and services in China, marking a major move to regulate the fast-growing technology, which has come under intense scrutiny over safety concerns this year.

    The draft rules, which were published at the weekend by the Cyberspace Administration of China (CAC), include measures to protect children. They include requiring AI firms to offer personalised settings, have time limits on usage and getting consent from guardians before providing emotional companionship services.

    Chatbot operators must have a human take over any conversation related to suicide or self-harm and immediately notify the user’s guardian or an emergency contact, the administration said.

    AI providers must ensure that their services do not generate or share “content that endangers national security, damages national honour and interests [or] undermines national unity”, the statement said.

    The CAC said it encourages the adoption of AI, such as to promote local culture and create tools for companionship for the elderly, provided that the technology is safe and reliable. It also called for feedback from the public.

    Chinese AI firm DeepSeek made headlines worldwide this year after it topped app download charts.

    This month, two Chinese startups Z.ai and Minimax, which together have tens of millions of users, announced plans to list on the stock market.

    The technology has quickly gained huge numbers of subscribers with some using it for companionship or therapy.

    The impact of AI on human behaviour has come under increased scrutiny in recent months.

    Sam Altman, the head of ChatGPT-maker OpenAI, said this year that the way chatbots respond to conversations related to self-harm is among the company’s most difficult problems.

    In August, a family in California sued OpenAI over the death of their 16-year-old son, alleging that ChatGPT encouraged him to take his own life. The lawsuit marked the first legal action accusing OpenAI of wrongful death.

    This month, the company advertised for a “head of preparedness” who will be responsible for defending against risks from AI models to human mental health and cybersecurity.

    The successful candidate will be responsible for tracking AI risks that could pose a harm to people. Mr Altman said: “This will be a stressful job, and you’ll jump into the deep end pretty much immediately.”

    If you are suffering distress or despair and need support, you could speak to a health professional, or an organisation that offers support. Details of help available in many countries can be found at Befrienders Worldwide: www.befrienders.org.

    In the UK, a list of organisations that can help is available at bbc.co.uk/actionline. Readers in the US and Canada can call the 988 suicide helpline or visit its website.

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  • Aussie shares flat as banks bounce, gold retreats

    Aussie shares flat as banks bounce, gold retreats

    The S&P/ASX200 rose three points by midday, up 0.01 per cent, to 8,727, while the broader All Ordinaries gained 1.9 points, or 0.02 per cent, to 9,030.1.

    Gold and silver sell-off hits miners

    Gold and silver miners fell sharply on thin trading volumes after both metals surged to fresh record highs on Monday.

    “There’s less traders in the market, so moves can be kind of exaggerated as a result,” Capital.com senior market analyst Kyle Rodda said.

    “But the fundamental story for precious metals is a strong one, especially silver which — along with expectations of looser monetary and fiscal policy going forward — is benefiting from a deepening supply deficit, compounded by China’s planned export curbs.”

    Gold was trading at US$4,335 (A$6,475) an ounce, down from US$5,550 on Monday, while silver fell to US$72.63 an ounce after spiking above US$84 in the previous session.

    The sell-off dragged the materials sector down 1.2 per cent, making it one of three sectors in the red by midday.

    Miners mixed as iron ore steadies

    Large-cap miners BHP, Rio Tinto and Fortescue were mixed, trading either side of flat as iron ore futures continued to consolidate near US$107 a tonne.

    Battery minerals and rare earths stocks were broadly weaker. Liontown slipped 4.8 per cent to $1.60, making it the worst performer in the ASX200 so far in the session.

    Banks and energy provide support

    The heavyweight financials sector helped support the market, rising 0.6 per cent as CBA led the major banks higher. CBA shares climbed 0.9 per cent to $161.97, trading near a seven-week high.

    Energy stocks outperformed the broader market, lifting on the back of a jump in oil prices after Ukrainian peace talks were derailed by Russian claims of a drone attack on President Vladimir Putin’s residence.

    Coal producers were mixed, while uranium stocks continued to drift lower.

    Company moves across sectors

    Droneshield was the best performer in the ASX200, up 3.8 per cent after securing an $8.2 million contract with a western military end customer.

    In health care, Mesoblast rose 2.1 per cent after refinancing its debt with Oaktree Capital Management through a lower-cost credit facility.

    Consumer-facing stocks also moved higher after more than a week of consolidation. Consumer discretionary stocks rose 0.8 per cent, while consumer staples gained 0.6 per cent, tracking similar moves among sector heavyweights.

    Utilities fell 0.5 per cent despite a 0.7 per cent rise in Origin Energy shares, after its software investment Kraken was valued at US$8.7 billion (A$12.9 billion).

    Origin, which owns a 22.7 per cent stake in Kraken, backed a US$1 billion capital raising and gave up its Australian exclusivity, paving the way for Kraken’s separation from Octopus Energy in 2026.

    Australian dollar eases from recent highs

    The Australian dollar was buying 66.95 US cents, down from 67.17 US cents on Monday at 5pm, easing back from 14-month highs as commodity prices cooled.

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  • What Is an Attack Vector?

    What Is an Attack Vector?

    In epidemiology, vectors are agents that transmit infectious diseases. They can range from living things (mosquitoes, bats) to inanimate objects (syringes, paper money).1 Understanding these vectors informs disease prevention and transmission efforts in the realm of public health.

    Similarly, understanding the versatility of cyberattack vectors helps organizations (and the cybersecurity professionals working with them) to devise and deploy strategies and tools for cyber threat detection and remediation.

    Without such detection and remediation, grave consequences may follow. Attack vectors often enable data breaches, in which threat actors gain access to sensitive or confidential information.

    According to the IBM Cost of a Data Breach 2025 report, the average cost of a data breach is USD 4.44 million. Costs stem from breach investigations and audits; reporting breaches to customers, regulators and stakeholders; settlements and legal fees; and lost customers. Incidents tend to be especially costly in highly regulated fields where data breaches can result in regulatory fines. For instance, according to the IBM report, the average cost of a healthcare data breach in 2025 is USD 7.42 million.

    Attack vectors can also be deployed by hackers to disable or destroy assets, causing significant business and economic disruptions. In September 2025, for example, a cyberattack on airport check-in systems caused flight cancellations and delays at airports in major European cities. Earlier in the same month, a cyberattack forced a weeks-long shutdown at a large British automaker.

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