Pakistan Included in the UK New Trade Scheme
ISLAMABAD: The United Kingdom (UK) has launched a “Developing Countries Trade Scheme” (DCTS). The implementation of which in early 2023 will provide simpler tariff reductions and terms of trade to 65 countries, including Pakistan. The DCTS replaces the UK’s Generalized System of Preferences (GSP). GSP is a preferential trading system that provides tariff eliminations and […]
BMW Opens the Door to an Electric Supercar Inspired by the M1
BMW has hinted that it could bring back a car in the vein of the iconic M1. M1 would take the form of an electrified supercar, as its performance M arm looks to produce more bespoke models. The division is currently preparing to embark on a rapid-fire electrification program. Electrified models include future BMW M5 […]
Oil Extends Losses due to the Global Slowdown and the Possibility of Increased Supply
Oil fell for the third day. A deepening global slowdown appeared to coincide with a surge in supply from OPEC producers. West Texas Intermediate futures fell toward $88 a barrel after falling about 5% in the previous two sessions. Growing signs of an economic downturn filtered through markets on Monday. Bearish U.S. data, including cooling […]
European Parliament Rapporteur on the MiCA Crypto Law, Stefan Berger, Sells a Couple of Slides as NFT
“Freedom in a wallet” is how European Parliament Member Stefan Berger describes the non-fungible token (NFT) he is now selling in the Opensea. The NFT represents a pair of ‘Bergoletten’ slides. “The shoes symbolize the first step in every development,” says Berger. Berger invested efforts in making sure Europe’s upcoming crypto legislation gets the backing […]
PRs75 Commemorative Banknote Marks Nation’s Commitment to Addressing Climate Change
KARACHI: The State Bank of Pakistan (SBP) on Sunday issued a commemorative Rs75 note with not only the portraits of Quaid-i-Azam Mohammad Ali Jinnah, Allama Iqbal, Mohtarma Fatima Jinnah, and Sir Syed Ahmed Khan. It is to commemorate the country’s 75 years of independence. Note also highlighting the nation’s commitment to addressing climate change. The […]
Asia Best Currency is Driven by Tourists Arriving in Thailand
Thailand’s baht recovered so in recent weeks on optimism about the country’s tourism-driven growth. It has already hit analysts’ year-end targets. The currency rose 2.3% to around 35.45 per dollar this month, leading to gains in Asia by a wide margin. Besides the increased forecasts for tourist arrivals, the advance is also driving a shrinking […]
Will Apple’s Self-Driving Car Soon Become a Reality?
Any big automotive hire from Apple sparks renewed interest in the ongoing Apple car project. The latest presents as one of the most tangible signs. The iPhone maker still sees a future for itself in the auto industry. The last recruit, in May, was reportedly Luigi Taraborrelli, the former head of chassis and vehicle dynamics […]
Cryptocurrency trading, illegal investment in Iran, Central Bank Governor Reiterates
It is illegal to buy or sell cryptocurrencies in Iran. The head of the country’s monetary authority recently reminded citizens and businesses. The governor noted. But that mining cryptocurrencies and using them in payments for imports is not against the law in the Islamic Republic. Top Banker Confirms Cryptocurrency Trading Remains Illegal in Iran The […]
Chinese Tech Giant Huawei Releases H1 Financial Results
SHENZHEN – Chinese tech giant Huawei’s revenue reached 301.6 billion Yuan ($44.7 billion) in the first half of 2022. Revenue reached a net profit margin of 5 percent, according to the company’s semi-annual report released Friday. As for the company’s three core businesses, the revenue of the operator’s business reached 142.7 billion Yuan. The revenue […]
Apple Laptop Maker Profit Halved after the Chinese Plant Stumbles
Apple Inc.’s MacBook assembler Quanta Computer Inc. said its Shanghai campus recovered from Covid-related disruptions more slowly than expected, halving its profits. Net income for the second quarter came in at NT$3.96 billion ($132 million). It has down 50% and is below the average estimate of NT$4.3 billion. Sales totaled NT$270.5 billion, compared to analysts’ […]