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News Headlines of 22 - 03 - 2017

PAKISTAN NEWS:

PAEC SIGNS MOU WITH CHINA POWER:
Pakistan Atomic Energy Commission (PAEC) and China Power International Holding Ltd (CPIH) have signed a memorandum of understanding (MoU) for cooperation and collaboration in the power sector.


SOUTH KOREAN BANK AGREES TO GIVE $76M FOR IT PARK:
A loan agreement to build Pakistan’s first state-of-the-art multipurpose Inform­ation Technology Park worth Rs9.2 billion was signed between the government and South Korea Eximbank (KEXIM) here.

PACT WITH SWITZERLAND ON DOUBLE TAXATION:
Pakistan and Switzerland signed the much-awaited revised agreement on avoidance of double taxation with respect to income. The agreement will allow both countries to shore up a mechanism for information sharing to detect tax evaders.

KE SAYS NEW NEPRA TARIFF DISCOURAGES INVESTMENT:
The new multi-year tariff determined by the National Electric Power Regulatory Authority (Nepra) discouraged investment and was ultimately not in the long-term interest of the citizens of Karachi, K-Electric said.

PAK SUZUKI’S PROFIT FALLS 53PC:
Pak Suzuki Motor Company posted a net profit of Rs2.77 billion for 2016, down 53 per cent year-on-year, it announced. Analysts said the result announcement was in line with expectations. The company also announced a final cash dividend of Rs5.50 per share against Rs15 in 2015. Sales dropped 10pc to Rs76.5bn.


PBC MAKES CASE FOR ‘PAKISTAN FIRST’ POLICY:
A “Pakistan First” approach along the lines of “America First” and “Make in India” will strengthen the domestic industry and galvanize stakeholders, the Pakistan Business Council (PBC) said.


AUTOMAKERS REACT TO SBP CRITICISM:
Car assemblers have asserted their position reacting to the criticism by the State Bank of Pakistan (SBP). In a letter to the SBP chief economist, the Pakistan Automotive Manufacturers Association (Pama) criticized using the plea of Rs67.2 billion short-term investments for imposing 100 per cent cash margin condition for the import of completely knocked-down kits (CKDs).

INTERNATIONAL NEWS:

WALL STREET SUFFERS WORST DAY THIS YEAR:
Wall Street suffered its worst day this year as investors fretted about whether President Donald Trump will be able to deliver promised tax cuts. Banks, which have helped to propel share markets to record highs recently, were among the worst casualties.


THE WOMEN STILL WORKING INTO THEIR 70s:
The proportion of women working into their 70s in the UK has doubled in the last four years and is starting to catch up with men. Analysis of official data reveals that 5.6% of women only stopped working after the age of 70 in 2012. This had risen to 11.3% in 2016.

GOLDMAN SACHS TO EXPAND EU PRESENCE AHEAD OF BREXIT:
Goldman Sachs will move jobs away from London and bulk up its European presence by "hundreds of people", a senior executive has said. The US bank's European chief executive, Richard Gnodde, said it would begin the process before the UK leaves the European Union.

FLIGHT BAN ON LAPTOPS ‘SPARKED BY IS THREAT’:
An aircraft cabin ban on large electronic devices was prompted by intelligence suggesting a terror threat to US-bound flights, says US media. The US and UK have announced new carry-on restrictions banning laptops on certain passenger flights.

PAKISTAN REINSTATES SECRET MILITARY COURTS DESPITE CRITICISM:
Pakistan's lower house has passed a bill to reinstate secret military courts, despite criticism from human rights activists. Military courts were first set up as a response to the bloody 2015 attack on a military-run school by the Pakistani Taliban that killed 134 children. The courts, which try civilians charged with terrorism offences, had a two-year mandate that expired on 7 January.

NORTH KOREA MISSILE LAUNCH ‘FAILS’:
A North Korean missile launch has failed, South Korean defence officials say, but it is unclear how many were fired or what exactly was being tested. The US military said it detected a missile which appeared to explode within seconds of being launched.


TRUMP’S EX AIDE PAUL MANAFORT ‘HID’ $750,000 PAYMENT:
Further allegations have been made in Ukraine about secret funds said to have been paid to Donald Trump's former campaign chairman Paul Manafort. Lawmaker Serhiy Leshchenko said he had evidence that Mr. Manafort had tried to hide a payment of $750,000 (£600,800) by a pro-Russian party in 2009.


THE RAPID SPREAD OF AUSTRALIA’S CANE TOAD PESTS:
They are toxic invaders that have conquered swathes of northern Australia as they continue their seemingly irrepressible march west towards the Indian Ocean. Packed with poison and supremely adaptable, the dreaded cane toad, or Bufo marinus, has few friends in Australia, where a massive scientific and community effort has failed to stop their advance.


BRAZIL MEAT SCANDAL: HONG KONG JOINS IMPORT BAN:
Hong Kong has joined China is suspending meat imports from Brazil. They are the top two consumers of Brazilian meat and have suspended imports over allegations that companies have been selling unsafe produce for years.

PAKISTAN TECHNOLOGY NEWS:

APPLE LAUNCHES IPHONE 7, 7 PLUS IN RED:
Apple announced that it is introducing a new colour option for its iPhone 7 lineup today: red. The iPhone 7 and iPhone 7 Plus RED Special Edition is available in vibrant red aluminium finish, and is launching in recognition of more than 10 years of partnership between Apple and AIDS charity (RED).


YAYVO ANNOUNCES FIRST EVER PAKISTAN DAY GRAND TECH SALE:
Known as the day when the people of South Asia gathered and decided to form an independent homeland, 23rd March – Pakistan Day is a day of great national and international significance.

BANK ALFALAH CLINCHES COVETED ‘ IFM AWARD’ FOR ITS BEST IN CLASS CREDIT CARDS SERVICE:
Pakistan’s leading banking institution, Bank Alfalah, has bagged the International Finance Magazine Award in ‘Best Credit Card Offering’ category at IFM Awards organized by International Finance Magazine in Singapore for recognizing best-in-class banks and financial institutions.

INTERNATIONAL TECHNOLOGY NEWS:

UBER PLEDGES TO MAKE DRIVERS HAPPIER:
Uber's relationship with its drivers has become increasingly strained, the company admitted, as it vowed to improve its service. The ride-sharing firm told the media some of its policies were "unintentionally stacked against drivers".


US MAN LOSES APPEAL OVER ENCRYPTED DRIVES:
A US man has lost an appeal over his refusal to decrypt hard drives seized during an investigation regarding child sexual abuse images. The man, who has not been named in court documents, has been held in custody for nearly 18 months.

UK FLIGHT BAN ON ELECTRONIC DEVICES ANNOUNCED:
The British government has announced a cabin baggage ban on laptops on direct passenger flights to the UK from Turkey, Lebanon, Jordan, Egypt, Tunisia and Saudi Arabia. The ban, which also applies to tablets and DVD players, follows a similar US move affecting eight countries.

APPLE LAUNCHES RED IPHONE 7 AND VIDEO APP:
Apple has launched a red version of its iPhone 7 and 7 Plus as well as a new video app for iOS. The red iPhone celebrates Apple's 10-year partnership with Red, an organisation that aims to combat Aids.


CANADIAN PHOTOGRAPHER ‘SORRY’ FOR EXPLICIT IMAGE SHARING:
A Canadian photographer and comedian has admitted posting explicit images of women along with their names on controversial internet forum 4Chan. However, he denied doing so for "malicious intent" - a practice known as doxxing.


EBAY LAUNCHES GUARANTEED THREE-DAY DELIVERY IN US:
Online retailer eBay has promised to get items to US shoppers in three days or less with a new programme called "Guaranteed Delivery". From the summer, the site will guarantee the speedy delivery of 20 million products from certain sellers who currently meet delivery promises.

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