The global economy of today exists in two parallel realms: the surface economy that is circumscribed by international and domestic regulation and oversight; and the shadowy economy that is large, amorphous, and fast-growing. Money laundering feeds this shadow economy, and it creates many domestic and international security risks, including the financing of nefarious non-state actors, promoting corporate and individual tax evasion, worsening economic inequality, and sustaining organized criminal activity. Leaks in recent years such as the Panama Papers, Russian Laundromat, and FinCEN only give us a glimpse of the problem. Yet the main bodies in charge of oversight of this space, such as the Financial Action Task Force (FATF) have a very limited focus, and even a political agenda of their own. For example, the FATF ranked United Kingdom’s (UK) compliance as the best in the world, although it is still marred by inefficiencies and is a work-in-progress.
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The Pakistan Air Force (PAF), known for its forward-thinking approach, has consistently embraced cutting-edge technologies, boasting a fleet composed of advanced aircraft. Currently, the PAF operates two formidable ‘J series’ fighters: the JF-17 and J-10C, alongside other potent fighters like the US F-16, French Mirage, and Chinese F-7P (originally J-7) aircraft.
A grand Hindu temple – Ram Mandir – has been inaugurated in the Indian city of Ayodhya. The Indian Prime Minister, Narendra Modi, attended – or led (as he would like history books to remember) – the consecration along with other Bharatiya Janata Party stalwarts, leaders from the Rashtriya Swayamsevak Sangh and even Modi’s opponents from the Congress.
The 2024 election in Pakistan deserves praise for three reasons: the spirited participation of the people, including women and young voters; the largely secure environment in which voters gathered; and the confirmation of the people’s commitment to a democratic process. What is also worth noting, however, is the technologically primitive nature of the electoral process, as if we were voting in 1924 rather than in 2024.
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