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Pakistan to get $3.4 billion in budgetary aid from ADB: Hafeez Shaikh

ISLAMABAD: Pakistan will receive $3.4 billion in budgetary support from the Asian Development Bank (ABD), the de facto finance minister said on Saturday, as the government seeks help to overcome a ballooning balance of payments crisis. Director General (DG) Asian Development Bank (ADB), Werner Leipach and Country Director ADB, Xiaohong …

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Facebook lets deepfake Zuckerberg video stay on Instagram

  Facebook has said it will not remove a manipulated video of its chief Mark Zuckerberg from Instagram, in which he appears to credit a secretive organisation for his success.The clip is a “deepfake”, made by AI software that uses photos of a person to create a video of them …

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Uber takes its flying taxi ambitions to Australia

  Uber has said Australia will become the first international market for its flying taxi service Uber Air. The firm has selected Melbourne as the third pilot city for its air taxi programme, joining Dallas and Los Angeles. Test flights are due to start from 2020, with the aim of …

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Leonardo masterpiece ‘being kept on Saudi prince’s yacht’

  The world’s most expensive artwork – Leonardo da Vinci’s masterpiece Salvator Mundi – has reportedly been installed on Saudi crown prince Mohammed bin Salman’s superyacht. The location of the painting has been a mystery since it was sold for a record $450m (£350m) at auction by Christie’s in New …

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Govt eyes 4pc growth rate for next fiscal year

ISLAMABAD: Amid tight fiscal and contractionary monetary policies, the government is targeting slight improvements in savings and investments, coupled with better performance by agriculture and industry to achieve an economic growth rate of four per cent during the next fiscal year, compared to a dismal growth of 3.3pc during the …

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Canada goes deeper into debt to compete with Trump tax cuts

Ottawa (Web Desk) In a fiscal update on Wednesday Canada’s finance minister ditched a promise to balance the budget next year, and instead rolled out measures to help companies compete with the United States. The delivery of Can$17.6 billion (US$13.3 billion) in new spending and forgone revenue over six years …

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No more hike in power tariff ‘soon’, says minister

ISLAMABAD (Web Desk) Power Minister Omar Ayub Khan on Tuesday said the government would not further increase electricity tariffs “soon” on the demand of the International Monetary Fund (IMF). Talking to the media after a consultative session on the proposed renewable energy (RE) policy, he said the government had only recently …

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