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New York Governor Kathy Hochul condemned the Biden administration for its mishandling of a mysterious drone crisis affecting the East Coast. She labeled the federal response as inadequate, stating the situation has “gone too far.” The drones forced Stewart Airfield to close its airspace for over an hour last Friday. Hochul called on the federal …
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ISLAMABAD: Startups that participated in the first season of Shark Tank Pakistan are under investigation by the Federal Board of Revenue (FBR). The investigation centers on alleged tax discrepancies. Ahmed Rauf Essa, CEO of Telemart, disclosed the matter on LinkedIn. He revealed that several startups have received tax notices and some are facing legal action …
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England leads the series 2-0 against New Zealand in the Crowe-Thorpe Trophy. On Day 2 of the third Test, New Zealand fought hard to extend their innings. By the drinks break, they stood at 347/9 in 97 overs. Mitchell Santner remained the backbone of their innings, batting confidently with 76 runs off 116 balls. Santner …
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After carrying out intense airstrikes in Syria, Israel’s Air Force is now reportedly preparing for potential attacks on Iran’s nuclear facilities. This escalation comes after a series of airstrikes aimed at weakening Syrian military capabilities. Israeli officials are planning their next steps amidst rapidly changing circumstances in the Middle East. Israeli Officials Discuss Next Moves …
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In a historic move, South Korean lawmakers have voted to impeach President Yoon Suk Yeol. A total of 204 members of parliament (MPs) voted in favor of the motion. As a result, Yoon has been suspended from office. The prime minister will now serve as the acting president while the constitutional court reviews the impeachment. …
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Gold prices in Pakistan experienced a major drop after consistent hikes earlier this week. According to the All Pakistan Gems and Jewellers Association, the price of gold per tola decreased by Rs. 5,000. Following the reduction, the new price for one tola of gold stands at Rs. 277,800. This decline brought relief to investors and …
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The federal government has decided to terminate agreements with six independent power producers (IPPs). These IPPs generate costly electricity, adding financial strain to consumers and the government. The terminated contracts cover a combined capacity of 2,396 MW. The decision is part of a broader strategy to reduce electricity tariffs and save money. Officials estimate that …
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South Indian superstar Allu Arjun was arrested in connection with a stampede case. The incident occurred during the screening of his blockbuster film Pushpa 2. Hyderabad police detained him from his home yesterday. The stampede took place on December 4 at Sandhya Theater in Hyderabad during the film’s premiere. Tragically, a woman lost her life, …
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All-rounder Imad Wasim has announced his retirement from international cricket. He made the announcement through a heartfelt message on social media. Imad said representing Pakistan had been the greatest honor of his life. In his statement, Imad shared that he reached the decision after much thought. He expressed gratitude for the opportunities he received to …
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Karachi: The Oil and Gas Development Company Limited (OGDCL) has discovered gas and condensate reserves in Khyber Pakhtunkhwa. The discovery was made at the Betani-02 (Sulent) well in Lakki Marwat district. OGDCL informed the Pakistan Stock Exchange (PSX) about the discovery on Friday. The company stated it operates the Wali Exploration License with a 100% …
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Karachi: The Deposit Protection Corporation (DPC) has released its fourth Annual Report for the fiscal year ending June 2024. The report highlights the Corporation’s financial performance, activities, and accomplishments during the year. Overview of DPC’s Mandate DPC was established under the Deposit Protection Corporation Act, 2016. It operates as a subsidiary of the State Bank …
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KARACHI: Faraz-ur-Rehman, Patron-in-Chief of the Pakistan Business Group (PBGO) and Chairman of the Pakistan Business Guild, has urged the government to slash the policy rate by 500 basis points in one go during the upcoming monetary policy announcement. He stated that this decisive move is essential for reviving the economy and fostering a business-friendly environment. …
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New York: Elon Musk has achieved a historic milestone in wealth accumulation. The Tesla and SpaceX owner is now the first person in the world to reach a net worth of $400 billion. This remarkable achievement highlights Musk’s dominance in the global business landscape. Record-Breaking Wealth American media reports confirmed that Musk set this unprecedented …
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Islamabad: Federal Minister for Petroleum Musadik Malik informed the National Assembly that the procurement of five LNG cargoes from Qatar has been postponed. Qatar also declined to supply an additional cargo in January, despite Pakistan’s request. Assembly Discusses LNG and Gas Production During a session in the National Assembly, a notice was presented to address …
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Pakistan’s agricultural exports are witnessing rapid growth, with the first consignment of tractors reaching Tanzania. This achievement marks a milestone in the country’s international trade efforts. This development highlights Pakistan’s commitment to expanding agricultural machinery trade and fostering global trade partnerships. In Tanzania, the Masai Tractor Company has partnered with Pakistani manufacturers to introduce Pakistani …
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The federal government is expected to increase petrol prices starting December 16. Rising global oil prices have pushed Pakistan to consider the hike. The revised rates will be announced on December 15 after the second fortnightly review. These new prices will remain effective until December 31. Global Oil Market Impact International crude oil prices have …
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The National Electric Power Regulatory Authority (NEPRA) has reviewed K-Electric’s October monthly Fuel Charges Adjustment (FCA). The public hearing took place at NEPRA headquarters. The Chairman of NEPRA led the session. K-Electric Proposes Reduction K-Electric proposed a reduction of 27 paisa per unit in October’s FCA. The company submitted this request to NEPRA for approval. …
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Telugu actor Allu Arjun was arrested in connection with a fatal stampede during the premiere of his film Pushpa 2. The incident occurred on December 4 at Sandhya Theatre in Hyderabad. It claimed the life of a 39-year-old woman, Revathi, and left her eight-year-old son hospitalized. Arjun was taken into custody on Friday and brought …
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Sugar prices in Pakistan have increased by Rs. 10 to Rs. 15 per kilogram. Speculators and hoarders have been active since the start of the week. Their actions have caused a noticeable rise in sugar rates. Large retailers are now selling sugar for Rs. 130 to Rs. 135 per kilogram. The ex-mill rate has also …
As the cold weather sets in across Pakistan, particularly in the northern and mountainous regions, the winter season brings both beauty and a unique set of challenges. While the picturesque snow-capped peaks, crisp air, and chilly evenings offer a breathtaking view, winter troubles in Pakistan can significantly disrupt daily life, from power outages to roadblocks. …
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The State Bank of Pakistan (SBP) reported a $12.5 million rise in its foreign exchange reserves, reaching $12.05 billion for the week ending December 6, 2024. This marks a 0.10% week-on-week (WoW) increase, according to data released on Thursday. Decline in Total Reserves Despite the uptick in SBP’s reserves, the country’s total foreign exchange reserves …
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The Karachi Chamber of Commerce and Industry (KCCI) has called on the State Bank of Pakistan (SBP) to reduce the monetary policy rate by 400 basis points. KCCI President Muhammad Jawed Bilwani highlighted that this reduction would align interest rates with sustainable levels and make borrowing affordable for businesses and consumers. Inflation Drops to Lowest …
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Health experts stress the need for a Tobacco Harm Reduction (THR) framework in Pakistan. They believe it can lower the country’s smoking-related death toll, which exceeds 200,000 annually. THR can also reduce healthcare expenses and redirect resources to infrastructure development. Tobacco Harm Reduction in Other Countries Countries like the United States, Japan, Sweden, and Italy …
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