Pakistan says potential cyclone in Arabian Sea may affect coastal areas this month

Children play, with the rainbow and rain clouds in the background, following reports from the Pakistan Meteorological Department of a potential cyclonic storm that could develop over the Arabian Sea, at Clifton Beach in Karachi, Pakistan on August 30, 2024. (REUTERS/File)
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Updated 08 October 2024
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Pakistan says potential cyclone in Arabian Sea may affect coastal areas this month

  • The weather system is currently positioned near India’s Lakshadweep Valley and expected to move northwestward
  • Early forecasts suggest the possibility of landfall along the Pakistani coast, depending on its trajectory and intensity

ISLAMABAD: Pakistan’s National Emergencies Operation Center (NEOC) said on Monday a low-pressure system was developing in the Arabian Sea that could transform into a cyclone and affect coastal areas of the country later this month.

The system is currently positioned near India’s Lakshadweep Valley and is expected to move northwestward, according to an early advisory issued by the NEOC.

Early forecasts suggest the possibility of landfall along the Pakistani coastline in the third week of October, depending on its trajectory and intensity.

“There is a chance that this low-pressure system may evolve into a full-fledged tropical cyclone, with the potential to affect the coastal areas of Pakistan,” the NEOC said in a statement.

“Citizens and stakeholders, particularly those residing in coastal regions, are advised to stay informed of official updates and adviseries as the situation evolves.”

The NEOC said the National Disaster Management Authority (NDMA), in collaboration with relevant departments, was continuously monitoring the situation to provide timely updates and issue further adviseries.

In August, a cyclonic storm, ASNA, in the Arabian Sea caused heavy rains in coastal areas in Pakistan’s southern Sindh and southwestern Balochistan provinces.

Pakistan has seen erratic changes in its weather patterns which have led to frequent heat waves, untimely rains, cyclones and droughts in recent years. Scientists have blamed the events on human-driven climate change.
 


JazzCash signs deal with Binance in UAE to explore regulated crypto adoption in Pakistan

Updated 24 min 59 sec ago
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JazzCash signs deal with Binance in UAE to explore regulated crypto adoption in Pakistan

  • MoU focuses on awareness and development of compliant virtual-asset solutions in Pakistan
  • Pakistan introducing licensing regime for crypto firms as it formalizes digital-asset oversight

ISLAMABAD: Pakistani financial-technology platform JazzCash has signed a memorandum of understanding with global cryptocurrency exchange Binance in the United Arab Emirates to explore cooperation on virtual-asset use and education in Pakistan, the company said on Wednesday.

The agreement sets a framework for discussions on awareness campaigns and future digital-asset products that would comply with Pakistan’s emerging crypto regulations. The move signals growing engagement between global blockchain companies and Pakistani fintechs as authorities shift toward formal licensing of the sector.

Pakistan has spent the past year drafting rules to regulate the fast-expanding market for digital coins and tokens, requiring virtual-asset service providers to obtain government approval. Officials say the transition is aimed at curbing money-laundering and terror financing risks, boosting transparency and encouraging responsible innovation.

“JazzCash has always championed technologies that expand financial access while promoting secure and inclusive participation in the digital economy," JazzCash Chief Executive Officer Murtaza Ali said. 

“By entering into this exploratory MoU with Binance, we are advancing our efforts to understand how global digital-asset trends can support Pakistan’s evolving regulatory landscape. We aim to engage responsibly, support regulatory progress, and advance opportunities that build trust, transparency and innovation for our customers.”

The MoU does not establish a commercial partnership, but marks one of the most high-profile engagements between Pakistan’s fintech sector and a global crypto exchange as the country moves toward regulated digital-asset adoption.

Binance welcomed the cooperation, framing it as part of Pakistan’s shift toward regulated digital-asset activity.

"With regulatory frameworks like [Pakistan Virtual Assets Regulatory Authority] PVARA paving the way, this collaboration represents a significant step toward expanding financial inclusion and empowering more people to access the benefits of blockchain technology in a secure and compliant environment," Binance Chief Marketing Officer Rachel Conlan said.

Earlier this month, Binance executives met Pakistani finance officials to discuss digital-payments reform, blockchain-skills training and the potential for Web3-linked jobs. Pakistan also set up the Pakistan Crypto Council and formed PVARA this year to license and supervise crypto-asset service providers.