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Articles for tag: backs, ban, ByteDance, divestment, Divestment of ByteDance, looms, social media contest, TikTok, TikTok banned in the US, Trump, Trump supports TikTok, Trump's criticism of Facebook

July 17, 2024

News Desk

Trump backs TikTok as US ban looms over ByteDance divestment

Republican presidential candidate Donald Trump has said he supports TikTok, even in the face of a possible ban if Chinese parent company ByteDance fails to divest the short video app’s assets in the US. “I’m in favor of TikTok because you need competition. If you don’t have TikTok, you have Facebook and Instagram,” Trump told Bloomberg BusinessWeek in an interview published Tuesday. Trump previously called TikTok, which is used by 170 million Americans, a threat, but then joined TikTok last month. Trump, who criticized Meta Platforms Facebook and Instagram for suspending him for two years after the deadly riot on

June 28, 2024

News Desk

Hyderabad faces crisis as LPG shortage looms

KARACHI: Industrialists in Hyderabad have urged the government to ensure supply of LPG cylinders and issue licenses to LPG shops to address the severe gas shortage caused by Sui Southern Gas Company’s (SSGC) inability to supply gas to restaurants and roads , and home users. Hyderabad Chamber of Commerce and Industry (HCCI) President Adeel Siddiqui has stressed the urgent need for government intervention to reopen gas shops that were closed after a recent gas shop incident. “The closure of LPG shops has caused a major crisis affecting restaurants, small factories, goldsmiths, blacksmiths and food streets,” Siddiqui told The Express Tribune.

June 8, 2024

News Desk

Rain threat looms for Pakistan-India T20 World Cup match

An image from a previous India vs Pakistan cricket match. — Reuters/File Pakistan and India, cricket’s arch-rivals, will face each other in a World T20 Group A match on Sunday at the Nassau County Cricket Stadium in New York, amid rain forecast to disrupt proceedings. After beating Ireland by 8 wickets, Rohit Sharma led team comes to play in this match. On the other hand, the Babar Azam-led Pakistan team suffered a disappointing defeat against USA during their previous match in the marquee event. Due to their recent form, India hold an advantage over Pakistan, however, it is also important

June 5, 2024

News Desk

Stocks fall as budget uncertainty looms

KARACHI: The Pakistan Stock Exchange (PSX), while continuing its downward trajectory, slumped on Tuesday as the KSE-100 index fell over 900 points amid uncertainty ahead of the presentation of the federal budget. Although the index got off to a promising start when it touched an intraday high of 75,669.76 points, it could not sustain the momentum due to rapid selling. The recession is due to several factors, including a weak rupee, falling global crude oil prices and political instability. Additionally, a 9% decline in July-May 2014 oil sales, increased electricity tariffs and a possible reduction in federal development spending aided

April 16, 2024

News Desk

Arsenal seek to silence doubters as Bayern Champions League test looms

LONDON: Arsenal are preparing for a potentially decisive Champions League clash with Bayern Munich on Wednesday as familiar doubts simmer over whether they can handle the pressure following their devastating Premier League defeat to Aston Villa. Sunday’s 2-0 defeat brought back uncomfortable memories for Mikel Arteta’s side, who led for most of last season before faltering on the home stretch, allowing Manchester City to overtake them. Long-suffering fans are once again fearing the worst, with City once again top of the table and favorites to seal an unprecedented fourth consecutive top-flight title. The defeat at the Emirates — Arsenal’s first

March 24, 2024

News Desk

Gas crisis looms as $1 billion diverted to domestic sector

Islamabad: The natural gas sector is bracing for another hit as about $1 billion is earmarked to divert expensive RLNG to the domestic sector in a bid to ease a gas crisis expected in the 2024-25 financial year. The state-owned oil and gas entities are already under the burden of a revolving debt of Rs 710 billion, mainly due to the RLNG supply. Pakistan LNG Limited (PLL) is saddled with a revolving debt of Rs 142 billion, while Pakistan State Oil (PSO) faces Rs 568 billion, all from supplying RLNG to state gas utilities. The revelation comes from key stakeholders,

March 12, 2024

News Desk

Donald Trump doesn’t want Facebook’s Zuckerberg to get richer as TikTok ban looms

Donald Trump not in favor of ‘unfair advantages’ Facebook would gain as a result of banning TikTok Republican presidential candidate and former US President Donald Trump hosts a campaign rally at the Forum River Center in Rome, Georgia on March 9, 2024. — Reuters Former US President Donald Trump believes banning TikTok would make Facebook “greater”, as he branded Mark Zuckerberg’s social media platform an “enemy of the people” amid congressional looks set to shut down the popular US-based app. China. Donald Trump did not favor the “unfair advantages” Facebook would gain as a result of a ban, which would

February 5, 2024

News Desk

The threat of heatwave looms over the Paris Olympics

PARIS: Scorching summer heat is hard to imagine now in the middle of winter in Paris, but in six months before the world’s athletes arrive for the Olympics, another sweltering heat wave would spell trouble for organizers. A new study presenting “climate simulations to predict the worst heatwaves during the Paris 2024 Olympics” has turned heads after warning that the French capital faced a not insignificant risk of record-breaking high temperatures. The research, published in December in the journal Npj Climate and Atmospheric Science, looked at the risk of a two-week heatwave that would surpass the all-time record set in

January 18, 2024

News Desk

IMF debt dilemma looms after election: former SBP governor

“IMF will have to decide whether to pull the plug on Pakistan or not,” says Reza Baqir A customer talks to a shopkeeper selling groceries at a market in Karachi, Pakistan, June 8, 2023. — Reuters Reza Baqir says the IMF faces a tough choice after Pakistan’s referendum. “The IMF will have to decide whether to pull the plug or not.” The Fund argues that Pakistan’s debt is sustainable. The International Monetary Fund (IMF) faces tough choices on how to deal with Pakistan after February’s elections and how to assess the country’s debt situation, former central bank governor Reza Baqir

November 21, 2023

News Desk

Pakistan bonds rise to highest level in over a year as IMF tranche looms

Bonds doubled from late May on hopes that February’s polls would provide political stability and economic certainty An employee counts Pakistani rupee notes at a bank in Peshawar, Pakistan, August 22, 2023. — Reuters Bonds rise on reports of political stability after polls. In 2036 the dollar bond earns 2.4 cents. The 2025 expiration is at its strongest level since May 22. KARACHI: Pakistan’s bonds rose to a 15-month high on hopes of more international financial support after the country secured its International Monetary Fund (IMF) tranche, The news reported on Tuesday. Optimism about the country’s economy after the tranche

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