Saturday , 29 July 2017

Facebook authorizes $6 bn share buyback

SAN FRANCISCO: Facebook’s board of directors on Friday authorized spending as much as $6 billion to buy back shares in the leading social network. The stock repurchase program would go into effect at the start of next year, potentially allowing Facebook to take advantage of a price dip triggered early …

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Pakistan among 10 worst countries for internet freedom

KARACHI: The government’s attempts to tighten its grip on the internet — the information superhighway — through a series of controversial laws and policies has placed Pakistan among the 10 worst countries for internet freedom for a second straight year. The Prevention of Electronic Crimes Act (PECA) 2016, also seems …

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Google Earth now lets you explore whole wide world in virtual reality

The world has so many beautiful and amazing places to visit and only lucky ones are being able to travel and explore the world. Given the financial constraints and responsibilities that we have, even the most frequent and active travellers are able to see only a fraction of these amazing …

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Over 20% smokers consume smuggled cigarettes

KARACHI: Over 20% of smokers puff tax-evaded smuggled cigarettes in Pakistan as heavy taxes on locally manufactured products continue to hit the industry hard. “These LTE (local tax-evaded) cigarettes are extremely cheap,” said the State Bank of Pakistan (SBP) in the Annual Report on the State of Economy in fiscal …

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Argentina seeks partnership in agriculture, livestock

LAHORE: Embassy of Argentina’s Head of Consular Section Maria Carmela Mirabelli and Deputy Head of Commercial Section Guido Maiulini have expressed interest in boosting trade and economic ties with Pakistan. During a recent visit to the Lahore Chamber of Commerce and Industry (LCCI), the Argentinean envoys said Pakistani businessmen should …

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Market watch: Uncertainty continues to cloud the market

KARACHI: Clouds of uncertainty cast a dark shadow over the equity market on Friday. These stemmed from uncertainty in politics on the national and international front. Faltering coal prices pushed up cement stocks, but the push proved insufficient to rescue the bourse. At close, the Pakistan Stock Exchange’s benchmark KSE …

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Listed companies: SECP asks for reasons behind surge in stock prices

ISLAMABAD: In order to protect investors from market abuse, the stock market surveillance team of the Securities and Exchange Commission of Pakistan (SECP) has sought explanation from those companies experiencing a hike in their share prices and traded volumes. “Such explanation helps clarify if such a movement is attributable to …

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India suffering mounting losses: corps commander

GILGIT: The Indian army’s casualties doubled in recent days, rendering the cost of ceasefire violations unbearable for the adversary, Commander of 10 Corps Lieutenant-General Malik Zafar Iqbal said on Friday. “Only 20 of our soldiers embraced martyrdom while they lost more than 40 soldiers,” the corps commander told a selected …

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DTH launch to inject $400m in media sector: PEMRA officials

ISLAMABAD: The country’s media industry is poised to get a $400 million injection – the biggest ever investment in the sector – as the Pakistan Electronic Media Regulatory Authority (Pemra) is set to auction three licences for digital satellite television services next week. The successful launch of Direct-to-Home (DTH) services …

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ADB offers $1b loan for TAPI gas pipeline

ISLAMABAD: the Turkmenistan-Afghanistan-Pakistan-India (Tapi) gas pipeline project that will go a long way in meeting energy needs of the three countries, The Express Tribune has learnt from an official of the Ministry of Petroleum and Natural Resources. The official said the ADB had worked as transaction adviser for the project …

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