PM’s adviser says IMF ‘relaxed’ demands due to friendly nations

International Monetary Fund logo is seen inside the headquarters at the end of the IMF/World Bank annual meetings in Washington, US, October 9, 2016. — Reuters Adviser to Prime Minister on Political Affairs Rana Sanaullah Monday underscored the crucial role played by friendly country whose pledge to assist Islamabad resulted in relaxed conditions of the […]

How much money did Mark Zuckerberg lose due to global outage of Meta platforms?

Mark Zuckerberg, CEO of Facebook, is seen. —AFP Meta CEO Mark Zuckerberg faced a staggering loss of nearly $3 billion in the wake of a one-hour global shutdown affecting various popular social media platforms under the company’s umbrella, the New York Post reported.  The outage resulted in a decline of $2.79 billion in Zuckerberg’s net […]

Robitussin cough syrup recalled by Haleon in US due to contamination

A syrup being poured into a spoon. — Robitussin Robitussin cough syrup supplied nationally is being recalled by Haleon owing to microbial contamination that may cause fatal infections in susceptible individuals, the US division of the global consumer health company based in the UK announced this week. “Use of the recalled products could potentially result in […]

Several Karachi areas to see cut in power due to maintenance works today

An image showing a power breakdown in Karachi on January 10, 2021. — AFP Karachiites will experience power outages in multiple areas on Tuesday (today) as the metropolis’ primary electricity supplier K-Electric (KE) would undertake maintenance activity at multiple grids in the country’s economic hub. In a statement, KE announced that power shutdown is required from 9am […]

Tesla recalls 120,000 cars due to door risks

A Tesla Y model car stands outside its showroom. — AFP/File Tesla is recalling more than 120,000 of its cars because unlocked doors have the potential to open during a crash, raising the risk of harm as per a notification by safety inspectors. According to a National Highway Traffic Safety Administration (NHTSA) document, the fault […]

Pakistan suffering Rs8 trillion in tax loss each year due to illicit trade

Shipping activity can be seen at Port Qasim, Karachi. — APP/File Amid dire economic circumstances, Pakistan is also losing Rs8 trillion each year in tax loss due to rampant illicit trade which is further exacerbating the country’s worrisome financial indicators. Pakistan has “one of the highest” illegal trade in Asia, amounting to $68 billion or 20% […]

KE says Karachi to face additional loadshedding due to technical fault

A KE technician fixes a metre at a residential building. — AFP/File Karachi’s electricity supplier, K-Electric, on Monday announced that a few areas of the port city will be undergoing loadshedding for an hour because of a “temporary fault” in the 500 kV NKI-Jamshoro circuit of the national grid. KE Spokesperson Imran Rana notified about the […]

Petrol, diesel prices increased massively due to ‘IMF conditions’

An employee of a gas station fills the tank of a motorbike in Karachi, on July 16, 2021. — AFP The federal government has decided to increase the price of petroleum products in Pakistan by Rs19.95 per litre for the next fortnightly review, Finance Minister Ishaq Dar announced Tuesday, in line with commitments made to […]

Sales may take a hit due to heat waves, says world’s biggest ice cream company

Representational image of a customer buying an ice cream. — AFP/File Unilever, the world’s biggest ice cream company, thinks that ice cream can become too hot to enjoy. Known for popular ice creams loved by children and adults alike, the brand said that extremely high temperatures during the ongoing European heat wave may discourage consumers […]

Is IMF delaying agreement due to ‘political use’ of funds?

The International Monetary Fund logo is seen during the IMF/World Bank spring meetings in Washington, US, April 21, 2017. — Reuters Amid a prolonged delay in reaching an agreement with the International Monetary Fund (IMF), the Finance Division clarified Saturday that the lender has not raised concerns about its funds possibly being used for electioneering. […]

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