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STOCKHOLM: Finnish telecom firm Nokia has suffered a setback after a source close to the matter confirmed it had lost out to Samsung Electronics on a part of the contract to supply new 5G equipment to Verizon in the United States. With this $6.64 billion contract win, Samsung has reinforced its position as a challenger to the dominance of Nokia …

In an unfortunate incident, a teacher died of coronavirus in front of a class of students moments after she struggled to breathe during a zoom lecture. The incident occurred in Argentina and images of her last moments were shared in an online video, removed later at the request of the victim’s family. According to details, Paola de Simone, 46, who …

HONG KONG: Hong Kong will expand the size of public gatherings to four people and re-open more sports venues from Friday as the Asian financial hub relaxes strict curbs against a third wave of the coronavirus. The measures come as new daily cases have dropped into the single digits from three figures. Last week gyms and massage parlours re-opened and …

BEIJING: Chinese President Xi Jinping said on Tuesday China acted in an open and transparent manner on the COVID-19 outbreak and that it had taken concrete efforts that helped save tens of millions of lives around the world during the pandemic. Xi, speaking at a ceremony honouring role models during the country’s fight against the disease, said China is the …

LONDON: World shares rose slightly led by Europe on Monday after last week’s rout in US tech stocks, though investors worried that any rally could be short-lived and valuations remained high against the backdrop of a global economy in recession. Market activity was subdued with the United States closed for the Labour Day holiday, though Nasdaq futures fell 0.4pc. European …

ISLAMABAD: The government has constituted a special committee to act as one-window operation for K-Electric and sought removal of the top leadership of the power utility over its alleged inability to ensure uninterrupted power supply and address disruptions within reasonable time after recent rains. Highly placed sources said the government members on the K-Electric board of directors had pushed for …

ISLAMABAD: The federal government on Monday raised Rs156.45 million by disposing of abandoned properties in Islamabad against the reserve price of Rs140.525m. Prime Minister Imran Khan has entrusted the Privatization Commission to auction federal government’s abandoned properties. In the first phase of auctions held on Monday, five government-owned properties including two penthouses at Islamabad Country Club, two apartments, one in …

KARACHI: After a breather on Friday, the bulls ran amok on the first trading day of the week, tossing the KSE-100 index up by 273 points (0.65 per cent) to close at 42,296. Investors’ interest was driven by the government’s huge package of Rs1.1 trillion for Karachi, announced by the prime minister over the weekend to essentially rebuild the dilapidated metropolis. Day …

ISLAMABAD: An Australian green industry developer has shown interest for investment in zero carbon emission technologies — particularly fertiliser and steel production plants — in Pakistan. On Monday, West Australian Fortescue Metals Group Chairman Andrew Forrest met with Minister for Commerce and Investment Abdul Razzak Dawood and Chairman of Board of Investment (BoI) Atif Bokhari to discuss these opportunities. Over …