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Daily Archives: August 11, 2021

#WEBSUMMIT: EUROPE’S BIGGEST TECH CONFERENCE TO BE HELD IN-PERSON IN NOVEMBER


August 11, 2021

Europe’s biggest tech conference – the Web Summit – will return as an in-person event in Lisbon this November, organisers confirmed to Reuters on Wednesday, after the event was held online last year due to the coronavirus pandemic. Web Summit CEO Paddy Cosgrave had said last November that the venue, Lisbon’s Altice Arena, had been booked for 2021 and he …

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SAMSUNG UNVEILS NEW FOLDABLE SMARTPHONES WITH LOWER PRICES


August 11, 2021

Samsung Electronics unveiled its latest high-end foldable smartphones on Wednesday with lower prices than last year’s offerings in a push to expand foldable demand beyond niche devices. The tech giant priced its 5G-enabled Galaxy Z Fold3 with 7.6-inch main screen to start at $1,799.99 in the United States, and clamshell Galaxy Z Flip3 at $999.99 – down from the launch …

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INSTAGRAM UNVEILS NEW TOOLS TO REDUCE ABUSE, RACIST COMMENTS


August 11, 2021

Instagram on Wednesday announced new measures to curb abusive and racist content on the image-centric social network, following an onslaught of hateful comments directed at UK footballers after the Euro 2020 final. The Facebook-owned platform said it would start using “stronger warnings” when people post potentially offensive comments, and a new “hidden words” feature that enables users to filter abusive …

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Investment by banks in govt papers up by 30pc


August 11, 2021

KARACHI: The stock of investments held by scheduled banks at the end of July amounted to Rs14.1 trillion, up 30.4 per cent from a year ago, data released by the State Bank of Pakistan (SBP) on Tuesday showed. The sharp increase in banks’ lending to the government through risk-free instruments like Treasury bills (T-bills) and Pakistan Investment Bonds (PIBs) is …

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Rs10bn fund established for IT industry


August 11, 2021

ISLAMABAD: Minister for Finance Shaukat Tarin on Tuesday approved the establishment of a Rs10 billion fund for providing cash rewards to IT companies against their exports. The government will also award five per cent rebate on IT exports. In a meeting with the association of software houses, the finance minister acknowledged that IT exports need to be enhanced. He assured …

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Hike in global coal price may push up cement, electricity rates at home


August 11, 2021

KARACHI: International coal prices have soared to their highest level since 2008, making further hikes in cement and electricity rates likely in the domestic market. The price of Australian coal, which is used as a benchmark by large coal-burning Asian economies, stood at almost $152 per tonne at the end of last month, up almost 195 per cent from a …

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Pakistan LNG to provide KE gas for new plant


August 11, 2021

ISLAMABAD: The state-owned Pakistan LNG Ltd (PLL) and private power utility K-Electric on Tuesday signed a formal agreement under which the former would supply 150 million cubic feet per day of regasified liquefied natural gas (RLNG) to the KE’s upcoming 900-megawatt power plant at Bin Qasim. The gas supply agreement (GSA) was signed by KE Chief Executive Officer Moonis Alvi …

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Lucky gets permission to set up assembly plant for Samsung mobile devices


August 11, 2021

ISLAMABAD: The Pakistan Telecommunication Authority (PTA) has formally allowed Samsung, a South Korean electronics giant, to start production of its mobile phone devices in the country through its local partner Lucky Motor Corporation Ltd. The PTA on Tuesday issued a Mobile Device Manufacturing (MDM) authorisation to Lucky Motor to set up an assembly plant in Karachi for producing Korean mobile …

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US wants to continue improving ties, Austin tells Bajwa


August 11, 2021

WASHINGTON: In a phone call to Army Chief Gen Qamar Javed Bajwa, US Defence Secretary Lloyd Austin has conveyed Washington’s interest in continuing to improve the US-Pakistan relationship, the Pentagon said on Tuesday. Secretary Austin “expressed his interest in continuing to improve the US-Pakistan relationship and build upon our multiple shared interests in the region”, the statement added. “Secretary Austin …

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