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News Headlines of 16 - 10 - 2017

PAKISTAN NEWS:

UNIFORM COST OF GAS CONNECTIONS WITHIN 5KM OF NEW WELL-HEADS PROPOSED:
The federal government has decided to apply uniform costing criteria for natural gas consumers living within a five-kilometre radius of gas fields in the four provinces without putting additional burden on provincial governments.


WORLD BANK ASKED TO RECTIFY ERROR ABOUT LOAN PAYABLE BY PAKISTAN:
Insisting that its external repayment obligations stand at $18 billion for the current year, Pakistan has asked the World Bank (WB) to rectify its ‘error’ that put external obligations at $31bn.

THE TRICKY TANGLE OF SECURITY AND BUSINESS:
Politics is not their business but the risk-averse private sector of Pakistan, aware of the country’s power dynamics, lets its instincts guide it’s positioning in turbulent times. Blaming the civilian leadership for the hostile business environment, in a seminar, it stopped short of calling the supreme commander to assume charge.

BANK INVESTMENTS RISE BY 13.07PC:
According to the weekly statement of position of all scheduled banks for the week ended September 29, deposits and other accounts of all scheduled banks stood at Rs11,979.886 billion after a 2.64 per cent increase over the preceding week’s figure of Rs11,671.125bn.


BROKERS DEMAND RS20BN FUND TO REVIVE STOCK MARKET:
A market support fund of Rs20 billion should be set up under the management of National Investment Trust (NIT) to revive the stock market, stakeholders told Prime Minister Shahid Khaqan Abbasi on Saturday.

 

RUPEE DOWNSLIDE CONTINUES:
The local currency market is currently experiencing an artificial hike in dollar value against the rupee. The current rupee/dollar parity trend suggests that the dollar could soon hit the Rs108 barrier against the rupee.

 

FPCCI DEFEND ARMY CHIEF’S REMARKS ABOUT ECONOMY:
Responding to criticism of Pakistan Army Chief Gen Qamar Bajwa’s comment on the economy, the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Saturday said that the military could not remain indifferent to deteriorating economic situation of the country.

INTERNATIONAL NEWS:

AUSTRIAN CONSERVATIVE SET TO BECOME WORLD’S YOUNGEST LEADER:
Austria's conservative People's Party, led by 31-year-old Sebastian Kurz, is set to win the country's general election, projections suggest. Mr Kurz is on course to become the world's youngest national leader.

AT LEAST 230 DEAD IN MOGADISHU BLAST:
A massive bomb attack in a busy area of the Somali capital Mogadishu on Saturday is now known to have killed at least 230 people, police say. Hundreds more were wounded when a lorry packed with explosives detonated near the entrance of a hotel.

TILLERSON SAYS DIPLOMACY WILL CONTINUE:
US Secretary of State Rex Tillerson has insisted President Donald Trump wants to resolve the confrontation with North Korea through diplomacy. Sanctions and diplomacy, he said, had brought unprecedented international unity against North Korea's nuclear weapons programme.


AIRASIA FLIGHT RETURNS TO PERTH AFTER MID-AIR SCARE:
An AirAsia Indonesia flight has been forced to turn back to Australia after pilots were alerted to a possible loss of cabin pressure, airport officials say. Flight QZ535, bound for the Indonesian island of Bali, changed course about 25 minutes after take-off on Sunday.


FINANCIAL REGULATOR WARNS OF GROWING DEBT AMONG YOUNG PEOPLE:
The chief executive of the Financial Conduct Authority has warned of a "pronounced" build up of debt among young people. Andrew Bailey said the young were having to borrow for basic living costs. The regulator also said he "did not like" some high cost lending schemes.


SAUDI ARAMCO SAID ITS FLOTATION REMAINS ON TRACK FOR 2018:
Saudi Aramco has insisted that its plans for what is likely to be the world's biggest stock market listing remain on track. There are reports Aramco might shelve the initial public offering (IPO) in favour of private share placings. But the state-owned oil giant said the timing for a £1.5 trillion dual listing on the Saudi and an international stock market was still scheduled for 2018.

 

INTEREST RATE RISE SHOULD BE DELAYED:
The Bank of England should hold off from raising interest rates next month, according to a forecasting body. Bank Governor Mark Carney said rates could go up in the "relatively near term", with many analysts expecting a hike in November. However, EY Item Club said such a move risked hurting the UK's "fragile economic outlook".

 

VAUXHALL PLANS 400 JOBS CUTS AT ELLESMERE PORT AS SALES FALL:
Vauxhall is cutting about 400 jobs at its Ellesmere Port car plant due to falling sales. The carmaker, now owned by France's PSA Group - maker of Peugeot and Citroen - is "facing challenging European market conditions," a spokesman said. Ellesmere Port, which makes the Astra models, will move staff from two production shifts to one in early 2018.

 

‘BUSINESS AS USUAL’ AT WEINSTEIN CO, BROTHER INSISTS:
Harvey Weinstein's brother, Bob, has denied media reports that the film production company they co-founded could be closed or sold. "Our banks, partners and shareholders are fully supportive of our company," he said in a statement. "Business is continuing as usual".

PAKISTAN TECHNOLOGY NEWS:

DUBAI POLICE FORCE ADDS HOVERBIKES FOR EMERGENCY RESPONSE:
Dubai is transforming into “Future City”, to get one step near to this initiative, they’re putting self-flying taxis in skies and facial recognition system at its airport. The Dubai police department is now adding another sci-fi transportation staple: the hoverbike.

NO ONE USES FACEBOOK STORIES, SO NOW THEY’RE AVAILABLE FOR #BRANDS:
Just imagine working at Facebook and imagine yourself a person who introduced stories to the social network after observing this idea from Snapchat and introduced it on Instagram and Facebook. This feature looks great, but, according to expectations, it could not be able to get a fame. This may be a reason that a social network links pages behind these small sections.


MICROSOFT EDGE BROWSER PREVIEW MAKES ITS WAY TO ANDROID:
It is expected that Windows phone is going to be in the market very soon. As Joe Belfiore of Microsoft already confirmed about its demise. Similar to the strategy that company made in 2014, when the company released a triplet of Office apps for iOS, the company used a practical approach after reviewing its Windows experiences in iOS and Android.

 

INTERNATIONAL TECHNOLOGY NEWS:

WHY PINTEREST BOSS TIM KENDALL TAKES A DAILY ICE BATH:
When you think of the giants of Silicon Valley, Pinterest may not immediately spring to mind. But with 200 million active users and a recent valuation of $12.3bn (£9bn), the platform that started out in 2012 as a quirky online scrapbook has quietly become a hot commodity for advertisers and investors alike.


HOW VR IS HELPING TO TRAIN A NEW GENERATTION OF SURGEONS:
Virtual reality technology that users can feel as well as see has been developed to train surgeons. The equipment allows them to interact with virtual “flesh and bone” in simulated theatre environments.

SHOULD REALITY BE VIRTUAL OR AUGMENTED?:
Over the past couple of years, huge sums have been invested in virtual reality, with the promise that this time the technology is ready to enter the mainstream. But while the likes of Oculus, Samsung, Sony and HTC have all launched headsets, sales have so far failed to match the hype.


40 YEARS SINCE THE LAUNCH OF THE ATARI 2600:
40 Years ago, video games changed forever with the launch of the Atari 2600. The iconic console would go on to sell 30 million units in its lifetime and make Atari a household name.

 

MICROWAVE BREAKTHROUGH HELPS BOOST HARD DRIVE SIZES:
The data-storing abilities of hard drives could soon swell to 40 terabytes (TB) and beyond, says Western Digital. Currently the largest hard disk drive (HDD) that stores data on spinning disks can hold about 14TB of information. Western Digital said the bigger drives were made possible by finding a way to use microwaves to write data on 3.5in drives. The first bigger-capacity drives should go on sale in 2019.

 


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