ATHENS: The Olympic Games’ cost overruns in recent decades are a result of the International Olympic Committee’s delay in undertaking deep reforms, and it is now paying the price, said the lead author of new Oxford University research. The study, ’Regression to the Tail: Why the Olympics Blow Up’, claimed all Olympics since 1960 had run over their budgets at …

NEW DELHI: Virat Kohli says he has ‘never felt so calm’ going into an Indian Premier League season as the Royal Challengers Bangalore (RCB) skipper chases an elusive title in the Twenty20 tournament. The Kohli-led Bangalore finished runners-up in the 2016 edition but have since disappointed and were bottom of the eight-team table last year. But the world’s leading ODI …

ISLAMABAD: The Fede­ral Board of Revenue (FBR) has notified new return form for business individuals, salaried persons, association of persons, individual paper return and companies for tax year 2020. The new return form was notified through a notification SRO822. Meanwhile, the FBR also notified draft simplified return form for retailers having turnover less than Rs10 million. It was notified through …

KARACHI: K-Electric on Tuesday appointed Shan A. Ashary as the board chairman, said a press release. Mr Ashary has been on the board of directors since 2005 and represents the KES Power stake in KE. His predecessor Riyadh S. A. A. Edrees stepped down from the position due to other commitments.

KARACHI: Stocks plun­ged on Tuesday with the KSE-100 index recording a fall of 311 points (0.73 per cent) to close at 41,985. The market opened positive and the benchmark spiked to intraday high by 233 points. But the index started to slide within an hour, wiping out all the early gains. Shares began to fall like ninepins all across the …

ISLAMABAD: The Senate Standing Committee on Finance has asked the Ministry of Finance to prepare a working paper on the proposed amendment bill regarding supplementary grants in order to minimise the misuse of funds. The body, headed by Chairman Senator Farooq H Naek, directed the Special Secretary Finance Mohsin Mushtaq Chandna to submit the framework within 15 days to Upper …

ISLAMABAD: Warning of an impending serious gas shortage, the federal government on Tuesday said the Article 158 of the Constitution that promised priority rights to gas producing provinces was becoming irrelevant and all stakeholders would have to reach a consensus on a workable way forward. “We will be going towards massive (gas) load shedding in the coming days. We have …

Tom Cruise’s ex-wife Katie Holmes was photographed while enjoying the moments with her new boyfriend Emilio Vitolo Jr this week. The actress, 41, was spotted dating with the 33-year-old son of famed New York City chef Emilio Vitolo in a romantic ambiance. Katie appeared to have a new man in her life one year after her rumored split from Jamie …

Prince Harry and Meghan Markle’s return to the United Kingdom is said to have become nearly impossible now. Owing to their new Netflix deal, experts predict that Duke and Duchess of Sussex have constructed additional hurdles in front of them that would bar them from ever returning to the British royal family. Royal correspondent Duncan Larcombe spoke to True Royalty TV and …

After seeing her global repute crumble to the ground, Ellen DeGeneres is gearing up to take center stage once again and talk about the entire workplace scandal publicly. The face of day-time television is returning as announced by her in a statement that included a date for her new season’s premiere. “I can’t wait to get back to work and …