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Khwaja Asif vs Imran Khan: investor speaks and answers key questions

The man at the centre of the PML-N vs Imran Khan controversy over Shaukat Khanum investments, Imtiaz Hydari has come out publicly and blasted Khwaja Asif and his party declaring that his company handling $1.8 billion in funds has already absorbed the drop in value of a sound investment decision taken by the board.

 

“My company, HBG has taken steps to absorb the impairment in value by granting increased shares to SKMT i.e. the reduced value of Sugarland shares will be compensated by higher percentage shareholding of SKMT in Sugarland BVI. This preserves and protects SKMT investment. Additionally, HBG has also provided an undertaking to assist SKMT’s exit from the investment with Capital Protected,” Hydari said in a response released to the media on Saturday.Read More »Khwaja Asif vs Imran Khan: investor speaks and answers key questions

Pak is a country in slow meltdown: Vanda

WASHINGTON: Pakistan is a country which is in a slow meltdown, an eminent American expert has told lawmakers, a development which she argued would be extraordinarily bad for the region and for the United States.

 

“It’s a country in a meltdown, or slow meltdown, if you would, like crumbling. And of course the consequences of a more fundamental crumbling in Pakistan beyond FATA but in Punjab would be extraordinarily bad for the region and for the United States,” said Vanda Felbab-Brown, a fellow in Foreign Policy Studies at the prestigious Brookings Institute yesterday.Read More »Pak is a country in slow meltdown: Vanda

Team Pakistan wins debating competition

MEXICO CITY: Three Pakistani students from Karachi and Lahore have won an international debating competition.

 

The fifteen year old students won the final of The Karl Popper Debating Championship (KPDC) which is one of the largest tournaments of its kind.

 

Team Pakistan beat students from South Korea and all three participants were listed amongst the top 10 speakers of the tournament.Read More »Team Pakistan wins debating competition

Islamabad: Local engineer develops device to run car on water

By Noor Aftab (THE NEWS)

A Khairpur-based mechanical engineer has made such a unique claim that is apparently too hard to ‘digest’ but he is confident that a device recently developed by him can help use water as a fuel to run motor vehicles.

 Mechanical Engineer Agha Waqar Ahmad Khan was quite confident when he appeared before senior officer of Pakistan Science Foundation (PSF) and senior engineers for demonstration of his claim.Read More »Islamabad: Local engineer develops device to run car on water

ISLAMABAD: Sellers of immoveable property to pay 0.5% advance tax, besides CGT

Federal Board of Revenue (FBR) has clarified since Capital Gains Tax (CGT) ranging between 5 percent to 10 percent has been imposed only on disposal of properties held for a period up to two years therefore, advance tax at the rate of 0.5 percent is also to be collected from sellers who held the immoveable properties for a period up to two years.

Capital gains on immovable property: Prior to the 18th Constitutional Amendments effective from April 19, 2010 entry 50 of the Federal Legislative List contained in Part-I of the Fourth Schedule to the Constitution of Islamic Republic of Pakistan empowered the Federal Legislature to levy taxes on the capital value of the assets, not including taxes on capital gains on-3-immoveable property. The words ‘on capital gains’ were Read More »ISLAMABAD: Sellers of immoveable property to pay 0.5% advance tax, besides CGT

Samsung unveils motion controlled angry-birds app for smart TV

 Samsung Electronics Co., Ltd, a global leader in digital convergence technologies, yesterday announced the global availability of the Angry Birds App for Samsung Smart TV. Developed by Rovio Entertainment, a Finnish entertainment media company, Angry Birds is one of the top smartphone apps worldwide.

The game’s fun and colorful characters and engaging gameplay have made it beloved by fans around the world. Since its launch in November 2009, Angry Birds has been downloaded more than 1 billion times, across multiple platforms and all versions of the game.Read More »Samsung unveils motion controlled angry-birds app for smart TV

New Mac operating system goes on sale

NEW YORK: Apple Inc. will release its new operating system for Mac computers yesterday, with features borrowed from mobile devices and a tighter integration with online file storage. Dubbed Mountain Lion, the new software narrows the gap between the PC and phone software packages, making Mac personal computers work more like iPhones and iPads.

It’s similar to what Microsoft Corp. is doing with its forthcoming Windows 8 system. That system, to be released Oct 26, will bring the look and user interface of Windows Phone to PCs. Mountain Lion will cost $20 and will be sold only as a download. Only computers running the two most recent versions of Mac OS, Lion and Snow Leopard, can be upgraded.Read More »New Mac operating system goes on sale

PTCL introduces revised ‘3G EVO Unlimited’ packages

KARACHI: Pakistan Telecommunication Company Limited (PTCL) has introduced revised packages for its ‘3G EVO Wireless Broadband’, the country’s most popular Broadband Wireless Internet service.

The popular EVO Truly Unlimited, EVO Postpaid, EVO Max and EVO Wi-Fi Cloud shall now be available with an addition of Rs 100 service charges at Rs 2,100. The new charges are applicable from August 1, 2012.Read More »PTCL introduces revised ‘3G EVO Unlimited’ packages

LONDON: UK businessmen want removal of Pak students from immigration stats

Top British businessmen have urged British Prime Minister David Cameron to remove Pakistani students from official immigration figures to avoid choking off a valuable source of wealth and skills.

The businessmen warned that visa restrictions designed to bring net immigration below 100,000 a year would deter wealthy foreigners from outside the European Union.Read More »LONDON: UK businessmen want removal of Pak students from immigration stats