GENEVA: A US decision to slap steep import duties on Spanish olives over claims they benefited from subsidies constituted a violation of international trade rules, the World Trade Organization ruled on Friday. Former US president Donald Trump’s administration slapped extra tariffs on Spain’s iconic agricultural export in 2018, considering their olives were subsidized and being … Read more
RIYADH: Egypt’s unemployment rate has increased 0.2 per cent to 7.5 per cent in the third quarter of 2021, compared with 7.3 per cent in the second quarter, Arab News quoted the Central Agency for Public Mobilisation and Statistics, as saying. The number of unemployed Egyptians reached 2.2 million in the third quarter of 2021, … Read more
RIYADH: Bitcoin and ether, the world’s two largest cryptocurrencies, were weak on Wednesday and at near-critical levels that analysts believe could spell further weakness if they fell further, Arab News reported. While profit-taking after the massive run-up in prices earlier this month emerged as the biggest factor, analysts pointed to other reasons behind the more … Read more
Credit ratings of global financial institutions experienced a weaker decline during the pandemic, compared with the previous crises in the 21st Century, Arab News quoted Fitch Ratings, as saying in a report. On an average, global financial institutions ratings decreased 0.15 of a notch, a method of comparing ratings of debt issuers used by credit … Read more
ISLAMABAD: The New Khanki Barrage in Punjab has brought widespread benefits to the community, including increased agricultural output and income of over half a million farming families and far-reaching social and economic benefits, particularly for women and girls, through new health, education, recreation, and other community infrastructure. The barrage, which was financed by the government … Read more
ISLAMABAD: The delegations of the Federal Board of Revenue (FBR) and the Asian Development Bank reviewed the progress on the reforms being carried out in collaboration with the ADB and the issues and challenges being confronted for effective implementation, a statement said. The FBR team was led by its chairman Dr. Muhammad Ashfaq Ahmed and … Read more
KARACHI: The Pakistan Stock market continued to witness profit-taking on Thursday where late recovery was seen in the banking stocks, as the joint session of the Parliament approved a bill that would pave the way for increasing the central bank’s autonomy; thus, bringing it a step closer to reviving the delayed International Monetary Fund (IMF) … Read more
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has proposed that the tax adjudication cases should be handled under the supervision of the Federal Tax Ombudsman (FTO) office for a fair, neutral, transparent and competent resolution. Speaking on the occasion of Dr Asif Mahmood Jah, FTO Pakistan’s visit to the FPCCI Head … Read more
ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin has acknowledged the longstanding partnership and firm commitment of the Asian Development Bank as a major partner for bringing essential reforms in priority areas, including energy, fiscal and debt management, and socio-economic development. During a meeting with John Hurley, the US Alternate executive … Read more
ISLAMABAD: The Petroleum Division has informed the Cabinet Committee on Energy that during the winter season the demand for domestic consumers will be met through cutting the gas supply to captive power plants and the compressed natural gas (CNG) sector. A meeting of the Cabinet Committee on Energy was held under the chairmanship of Federal … Read more
ISLAMABAD: A large number of businessmen have appreciated the Board of Investment (BoI) team for timely resolution of their complaints and facilitating investors in every possible way, a statement said. In this regard, the Board of Investment organized an “e-kachehry to establish a connection between its officials and the businessmen. After successfully conducting the first … Read more
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has shown dismay, as the Federal Board of Revenue (FBR) continues with the provisions of the ITO Third Amendment 2021, a statement said. FPCCI president Mian Nasser Hayat Maggo blasted the FBR over its provisions which seek to compel companies to make payments for … Read more
BEIJING: China has applauded the China-Pakistan Economic Corridor (CPEC) Authority for hosting a meeting of Pakistan-based Chinese companies and briefing them about more investment opportunities in Pakistan. Chinese Foreign Ministry Spokesperson Zhao Lijian applauded the efforts from the Pakistani side to increase input in the development. Special Assistant to the Prime Minister (SAPM) on CPEC … Read more
DUBAI: The UAE’s Ministry of Defence has signed seven contracts worth more than Dh1.74 billion at the Dubai Airshow 2021, taking its total tally to Dh22.5 billion in the first four days of the show, Khaleej Times reported. Sharing the details of the contracts, Lt Col Sarah Al Hajri, the spokesperson of the Ministry of … Read more
KARACHI: The K-Electric Limited (KEL) has successfully implemented a ‘Black Start’ capability for the first time in its generation fleet at the Korangi Power Complex (KPC), a statement said. The KPC is responsible for generating 247 MW of electricity for Karachi. The ‘Black start’ technology allows power plants to go from shutdown mode to generating … Read more
KARACHI: South Korea has shown interest in importing urea from Pakistan, a statement said on Thursday. A delegation of Engro Fertilisers Limited (EFL) was called by the South Korean Embassy to discuss the possible export of urea to South Korea. Pakistan has significant potential to export urea and earns valuable foreign currency for the country, … Read more
KARACHI: The foreign exchange reserves of Pakistan declined $476 million to $23.55 billion by the week ended November 12, 2021, the central bank reported on Thursday. The foreign exchange reserves of the country stood at $24.026 billion by the week ended November 5, 2021, according to Topline Research. The forex reserves with the State Bank … Read more
KARACHI: The Customs Intelligence and Investigation Karachi (I&I Karachi) has seized a consignment of plant and machinery imported by the Lucky Cement for revenue evasion, official documents suggest. According to details, a shipment imported by the Lucky Cement declared to be new plant and machinery for manufacturing of Portland Cement (9,000 tonnes/day) was blocked last … Read more
KARACHI: Ericsson has announced the appointment of Aamir Ahsan Khan as its country manager for Pakistan, a statement said on Thursday. Khan will lead a strong team aided by a network of partners to support communication service providers and increase Ericsson’s digital footprint in the country, it added. Having joined Ericsson 14 years ago, he … Read more
KARACHI: Fauji Cement Company Limited (FCCL) would issue 800.5 million shares for every Askari Cement share as the equity swap ratio for the merger between the two cement makers is set at 5:1, which implies every one share of Askari Cement will be entitled to five shares of FCCL for the amalgamation between the two … Read more
KARACHI: The dollar rebounded and gained 91 paisas to close at Rs174.67 on Thursday in the interbank foreign exchange market, dealers said. The foreign currency breaks the three-day gaining streak of the rupee after a statement issued by the adviser to the prime minister on finance regarding the International Monetary Fund (IMF) conditions to continue … Read more
LAHORE: The Punjab Energy Department, in collaboration with the Punjab Board of Investment and Trade (PBIT), hosted a seminar on the energy potential of Punjab at the Pakistan Pavilion Expo 2020 Dubai, a statement said. The seminar presented a groundbreaking achievement for the Energy Department of Punjab, as a memorandum of understanding was signed between … Read more
Darth Gator, a huge alligator, caressing a young woman who happens to be a zookeeper, wowed Instagram fans. Hugging a reptile might not be everyone’s cup of tea, given our phobia of creepy crawlies. However, a video of a keeper at the Lizard Zoo in California receiving a tight, passionate hug from a huge reptile … Read more
It is currently not feasible for users to add moderators to their Instagram lives. Instagram, the popular photo and video sharing network, is working on a new tool that will allow live broadcasters to add moderators to their streams while they are live. The new functionality is intended for the platform’s live content makers. The … Read more
From January 19th, 2022, Amazon will no longer accept payments made using Visa credit cards issued in the United Kingdom. Customers will continue to be able to use Visa debit cards issued in the United Kingdom, as well as MasterCard, American Express, and other credit cards. Amazon is refusing to accept Visa credit cards from … Read more
According to XDA, Google has launched a surprise mid-month update for the Pixel 6 and Pixel 6 Pro devices, which is expressly meant to improve the fingerprint scanner’s functionality. The new model’s position of that sensor has been a source of annoyance for users due to its sluggish and finicky operation. Users have complained about … Read more
DRESDEN, Germany, The mulled wine is brewing and the chestnuts are ready to roast, but with Covid-19 cases soaring the festive season is hanging in the balance for Germany’s famous Christmas markets. As the government scrambles to respond to a dramatic rise in infections over the past two weeks, some of the traditional markets have … Read more
DUBAI: Robots puttering around Dubai’s hi-tech Expo site could be a sign of things to come for the Gulf, where new cities are being built from scratch with artificial intelligence at their core. The 5G-enabled Expo, covering an area twice the size of Monaco, will remain as a “city of the future” and tech industry hub, Expo’s chief … Read more
