PostEx, a Pakistani fintech and logistics startup, has announced that it has raised $1.5 million in seed funding from leading institutional investors. The startup said its initiative was aimed at solving challenges around cash on delivery with instant and upfront payments “by scaling its one-stop shop for financing and logistics solutions for e-commerce platforms”. The round was led by MSA …

KARACHI: The Sindh High Court on Monday summoned officials of the State Bank of Pakistan (SBP), Securities and Exchange Commission of Pakistan (SECP), Ministry of Finance and Federal Investigation Agency (FIA), asking them to come up with comments and suggestions as to how cryptocurrency can be allowed and regulated in Pakistan. The two-judge bench headed by Justice Mohammad Karim Khan …

KARACHI: The benchmark index of the Pakistan Stock Exchange (PSX) closed at 45,045 points on Monday after gaining 173 points, or 0.4 per cent, from a day ago. The KSE-100 index closed in the green zone despite increased foreign outflows. Foreigners have been selling shares for many sessions mainly because of the reclassification of Pakistan from the MSCI Emerging Market …

What to do when Facebook, Instagram and WhatsApp are unavailable? Order nuggets. Or at least that’s what Twitter did. The Pakistan Telecommunication Authority at 9:50pm on Monday said that Facebook services had been affected internationally due to an outage. As of 3:15am on Tuesday, at the time this report was published, the social media services were still offline. Twitter, however, was …

LONDON: The British military started delivering fuel to petrol stations on Monday, after a tanker driver shortage sparked two weeks of panic buying by motorists. Troops in fatigues drove tankers from Buncefield Oil Depot in Hemel Hempstead 20 miles (32 kilometres) north of London after the military was put on standby last week. Some 200 military personnel, half of them …

Former Facebook employee and whistleblower Frances Haugen is expected to tell US Congress on Tuesday that the company faces little oversight and liken the social media giant to tobacco companies that for decades denied that smoking damaged health, according to testimony seen by Reuters. “When we realized tobacco companies were hiding the harms it caused, the government took action. When we …

ISLAMABAD: The first quarter of the current fiscal year (1QFY22) posted a rise of more than 100 per cent in trade deficit driven largely by an almost triple increase in the country’s imports compared to exports, the Pakistan Bureau of Statistics (PBS) said on Monday. The merchandise trade deficit reached $11.664 billion in July-September 2021 from $5.814bn over the corresponding …

TOKYO: Newly elected Japanese Prime Minister Fumio Kishida said on Monday he will dissolve the lower house next week in preparation for Oct 31 elections as he seeks a fresh mandate to deal with the coronavirus pandemic, the sagging economy and security threats from China and North Korea. Kishida was formally elected by parliament earlier on Monday to replace Yoshihide Suga, who …

Girls have returned to some secondary schools in a northern province of Afghanistan, Taliban officials and teachers said on Tuesday, but they remain barred from classrooms in much of the country. Dozens of girls in black, some wearing white headscarves and others with black face veils, sat in chairs waving Taliban flags, in a video posted by Taliban official Suhail …

STOCKHOLM: US scientists David Julius and Ardem Patapoutian on Monday won the Nobel Medicine Prize for discoveries on receptors for temperature and touch. The duo’s research, conducted independently of each other in the late 1990s and 2000s, is being used to develop treatments for a wide range of diseases and conditions, including chronic pain. Julius, who in 2019 won the …