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Archive: All news

  • Caretaker setup shows lack of control over currency regime

    July 20, 2018 12:00 AM

    LAHORE: The interim government’s seemingly lost control over the currency regime is being ignored, as all political parties are busy slinging mud on each other that is further damaging the already weak economy of Pakistan. Rupee traded at Rs110 against dollar when the caretaker government was sworn in; however, in less than 50 days the value has dropped

  • Amazon hands goodwill to eBay with move to shut Australians out of overseas sites

    July 20, 2018 12:00 AM

    SYDNEY: Australian home entertainment installer Paul Boon has relied for years on Amazon.com Inc´s U.S. website for cheap wall racks and other parts to keep his costs down. But Amazon´s recent move to stop Australians from shopping on its foreign websites, due to a new law that requires it to collect taxes, is turning away once-loyal customers like Boon. He´s considering

  • FBR launches tax evasion probe against stationery industry

    July 20, 2018 12:00 AM

    KARACHI: Tax authorities have launched a tax evasion probe against the stationery businesses manufacturing books and pencils by scrutinising their returns after the government restored zero-rating facility for multibillion rupees industry from July 1, officials said on Thursday. The officials said strong lobby of stationery industry convinced the government

  • Bus plunges into Indian gorge, 14 dead

    July 20, 2018 12:00 AM

    DEHRADUN, India: A bus plunged into a gorge in a Himalayan state of northern India on Thursday, killing 14 people and injuring 17 others, a disaster official said. The driver lost control of the vehicle as he tried to negotiate a narrow bend in the picturesque Tehri district. "Thirty-one people had boarded the bus. Rescue workers have pulled out 14 bodies

  • Peru’s SC president resigns over corruption scandal

    July 20, 2018 12:00 AM

    LIMA: Peru’s Supreme Court president Duberli Rodriguez offered his resignation on Thursday after the publication of a series of audio recordings sparked a growing scandal over the sale of sentences and influence peddling. "Given the institutional crisis that the judicial branch is going through, I present my irrevocable resignation from the post," said Rodriguez

  • Instability leads to $11.8m decrease in FDI

    July 20, 2018 12:00 AM

    KARACHI: Amid the uncertainty prevailing in the country, there has been a decline in foreign direct investment (FDI), which has severely damaged the national economy. According to the figures released by the State Bank, the FDI witnessed a decrease of $11.8 million in the last financial year ending on June 30. The last few years saw a constant trend

  • Asim, Tayyab crash out of Malaysian Open

    July 19, 2018 12:00 AM

    KARACHI: Pakistan’s top squash players Asim Khan and Tayyab Aslam crashed out of the $35,000 Malaysian Open at Bukit Jalil National Squash Centre, Kuala Lumpur on Wednesday. Mohd Syafiq Kamal of Malaysia defeated Asim 8-11, 11-7, 11-7, 11-6 in 50 minutes and Victor Crouin of France overpowered Tayyab 4-11, 11-7, 11-9, 12-14, 11-7 in 76 minutes in the qualifying

  • Marta Women FC officials congratulate France on WC win

    July 19, 2018 12:00 AM

    KARACHI: Karachi’s Marta Women Football Club top management on Wednesday congratulated French president Emmanuel Macron on the title victory of France who regained the title after long 20 years when they beat Croatia 4-2 in the FIFA World Cup final in Moscow the other day. The club’s patron-in-chief Pirzada Ajmal Farooqui said that France, being the most accomplished

  • Panama World Cup coach Gomez quits

    July 19, 2018 12:00 AM

    PANAMA CITY: Hernan Dario Gomez said on Tuesday that he was quitting as coach of Panama after leading the nation to their first World Cup finals. “Now, for me, it is the time for the difficult act of moving my feet from the place where I have put my heart,” wrote the Colombian coach, who is known as Bolillo, in a letter published by the Panamanian football

  • Abbas, Haris into World Junior Squash third round

    July 19, 2018 12:00 AM

    KARACHI: Pakistan’s Abbas Zeb and Haris Qasim reached the third round of the World Junior Individual Squash Championship in Chennai on Wednesday. Abbas, ranked 90th in world junior circuit, thrashed Elijah Thomas of New Zealand 11-4, 11-4, 11-3 in the second round. He had beaten Murray Schepers of South Africa 11-6, 11-4, 11-3 in the first round