Pakistan Today

NEW YORK: Tesla Inc Chief Executive Officer Elon Musk said on Friday there will probably be a wider roll out of a new “Full Self Driving” software update in two weeks. In October, Tesla released a beta, or test version, of what it calls a “Full Self Driving” software upgrade to an undisclosed number of “expert, careful” drivers. “Probably going to...

NEW YORK: News this month of three promising coronavirus vaccines has helped push the Dow Jones Industrial Average over 30,000, but some investors worry that slow vaccination rates may weaken next year’s expected economic recovery. Overall, 58% of Americans said in a Gallup poll here that ended Nov. 1 that they would get vaccinated, up from 50% who were willing in a...

Pakistan Steel Mills (PSM) has sacked 4,544 employees, including divisional and assistant managers, as part of its "cost reduction exercise", PSM spokesperson confirmed on Friday. The management confirmed that officials belonging to category 2,3, and 4 pay groups have been dismissed from their jobs, adding that dismissal letters have been sent to the sacked employees by post. "Lecturers, non-teaching staff at...

NEW YORK: Oil prices were mixed on Friday but remained on course for a fourth straight week of gains ahead of an OPEC+ meeting early next week. Brent crude January futures rose 30 cents to $48.10 a barrel by 11:04 a.m. EST (1604 GMT), while the more active February contract gained 37 cents to $48.16. US West Texas Intermediate (WTI) crude...

ISLAMABAD: The Federal Board of Revenue (FBR), in collaboration with the Pakistan Revenue Automation Ltd (PRAL), has launched a single-page simplified income tax return form for small & medium-sized enterprises (SMEs) having turnover up to Rs50 million. In a statement on Friday, the FBR said that the facility can also be availed by individuals and associations of persons (AOPs). "This return...

ISLAMABAD: President Dr Arif Alvi has proposed establishing a trade triangle between Pakistan, China and Association of Southeast Asian Nations (ASEAN) to maximise the quantum of intra-regional business opportunities. In his virtual address to the 17th China-ASEAN Expo held in China's Nanning city on Friday, the president said that Pakistan's stable macroeconomic policies and ease of doing business offered an...

Pakistan and Germany on Friday signed three grant-in-aid agreements with a cumulative value of €18.5 million. The Pakistani side was represented by the Ministry of Economic Affairs while German Development Bank-KfW represented the government of Germany. Under these agreements, Germany will provide support for women health facilities, polio eradication, along with services towards mitigation of energy issues. The agreements were signed...

PINDI BHATTIAN: Energy Minister Omar Ayub Khan has said that the government will ensure uninterrupted gas supply to domestic consumers during the ongoing winter season. Talking to media in Pindi Bhattian after inaugurating various projects, the minister said that the country was facing shortage of gas due to the wrong policies of previous governments. About the current gas situation, he said...

ISLAMABAD: Stressing the expansion of corporate farming, Prime Minister Imran Khan on Friday sought proposals from industrialists to modernise agriculture sector and enhance production of various crops. In a meeting with the country's leading industrialists and businessmen, the prime minister said national development and prosperity was linked with the development of the business community, facilitation of which was the responsibility...

ISLAMABAD: The government has launched Ehsaas Digital Programme to facilitate women beneficiaries and avoid fraudulent activities in disbursement of payment. This was briefed by Special Assistant on Poverty Alleviation Dr Sania Nishtar to Prime Minister Imran Khan during his visit to an Ehsaas payment site in the federal capital on Friday, Radio Pakistan reported. The SAPM said this initiative will save...

WASHINGTON: The Walt Disney Company said it is laying off more than 30,000 employees, mostly at its theme parks, as the coronavirus lockdown renders the very existence of resorts and parks absolutely pointless. According to the company’s filing to the US Securities and Exchange Commission, the layoff of 32,000 workers, which is 4,000 more than Disney had earlier announced, will...

KARACHI: The Civil Aviation Authority has enforced a ban on serving meals in domestic flights in lieu of rising coronavirus cases in the country. The ban is in place for chartered and private flights. As per standard operating procedures, it is mandatory for the cabin crew and passengers to wear a face mask throughout the flight. Previously, before the ban came...

FM Qureshi says Pakistan desires peace in Afghanistan; seeks improved business ties with Chad

KARACHI: The three-day winning streak at the Pakistan Stock Exchange (PSX) came to an end on Friday, with the benchmark index succumbing to selling pressure amid range-bound activity. "The stock market opened on a negative note and maintained the bearish momentum during the first half of the session. However, buying activity in banking, refinery and technology sectors helped the index...

ISLAMABAD: The Asian Development Bank (ADB) on Friday approved a $300 million policy-based loan to help promote macroeconomic stability in Pakistan by facilitating improved trade competitiveness and export diversification. The loan agreement was signed by Economic Affairs Division Secretary Noor Ahmed and ADB Country Director Xiaohong Yang. Minister for Economic Affairs Makhdum Khusro Bakhtyar was also present on the occasion. "While...