BUSINESS
Pakistan allows state-owned company to import 0.3 million tons of wheat to manage strategic reserves
The decision was made at an ECC meeting attended by ministers and representatives from all relevant ministries, the finance ministry said in a statement on Wednesday night. The Ministry of National Food Security and Research at the meeting presented a summary of urgent advice relating to the awarding of third international wheat tender 2022, Xinhua news agency reported quoting the statement.
Gautam Adani surpasses Bill Gates to become 4th richest person in world, Mukesh Ambani slips to 10th spot | Here's Top 10 list
As per the new Forbes list, Adani stands at top 4 with a total net worth of $115.4 billion which is about $11 billion higher than that of Gates, whose wealth stands at $104.2 billion. Meanwhile, Reliance Industries chairman Mukesh Ambani has slipped to 10th position in world's billionaires list. According to Forbes, Adani's wealth has more than doubled since early 2021 to a current $112.9 billion. Let's take a look at the top 10 richest persons in the world.
Several essential medicines vanish from Pakistani markets
"None of the brands selling lithium carbonate are available in the market for the last couple of months," a renowned psychiatrist and former president of the Pakistan Psychiatric Society (PPS) said while referring to the formulation known as the most effective medicine for the treatment of several psychiatric illnesses, including bipolar disorder.
Uber files: UK union stages 24-hour strike to make CEO accountable
The union on Wednesday asked passengers not to cross the Uber driver picket line and not use the service, along with asking drivers not to open the app. The union, alleging that Uber fundamentally changed in 2017 after Dara Khosrowshahi became CEO, also held a public demonstration at Uber UK's head office at Aldgate Towers in London.
Crypto exchange Zipmex pauses withdrawals until further notice
In a tweet late on Wednesday, Zipmex said that due to a combination of circumstances "beyond our control including volatile market conditions, and the resulting financial difficulties of our key business partners, to maintain the integrity of our platform, we would be pausing withdrawals until further notice".
Hyundai sells 1.88 mn vehicles in first 6 months, Q2 profit jumps 56%
Net profit for the three months ended in June rose to 3.08 trillion won (US$2.34 billion) from 1.98 trillion won during the same period of last year, the company said in a statement. In the six-month period, Hyundai sold a total of 1.88 million vehicles, achieving 43 per cent of its sales target of 4.34 million units for the year.
Tesla sold 75% of its Bitcoin, Musk says Dogecoin still with him
Last year, Tesla made a $1.5 billion investment in Bitcoin and announced that it would accept Bitcoin as payment. In the second-quarter (Q2) earnings call with analysts, Tesla Ceo Elon Musk said that the reason the company sold a bunch of its Bitcoin holdings "was that we were uncertain as to when the COVID lockdowns in China would alleviate".
Wipro records gross revenue of Rs 215.3 billion in Q1
In its financial results, announced under International Financial Reporting Standards (IFRS) for the first quarter ended June 30, the IT services segment revenue was at $2,735.5 million, an increase of 13.3 per cent, while Non-GAAP2 constant currency IT Services segment revenue increased by 2.1 per cent QoQ and 17.2 per cent YoY.
Pakistan rupee, stocks sink due to political uncertainty; Fitch downgrades rating
The growing political temperature has also created a non-time bound political uncertainty in the country. Fitch Ratings downgrading Pakistan's economic growth came with reference to Pakistan's agreement with the International Monetary Fund (IMF) to impose tough measures to increase tax base in the country, aimed at the revival of the Extended Funding Facility (EFF) programme.
Cloud adoption can add $380 bn to India's GDP, create 14 mn jobs: Nasscom
However, India may lose $118 billion in GDP contribution and five million job opportunities by 2026 if businesses and government are late to Cloud adoption, the report warned. With global players heading towards new systems like 3D printing, IoT, robotic automation, slow or low adoption in Cloud may result in Indian industries losing competitive edge and India may lose its attractiveness among investors, expats and new businesses.
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