Hungary’s Muslims ‘feel the hate’


Hungary’s Muslims ‘feel the hate’ BUDAPEST: Maja is no immigrant, she’s a Muslim convert. But in the febrile atmosphere in Hungary ahead of Sunday’s referendum on refugees, she says her religion has made her a target for abuse. “We Hungarians are normally kind, friendly people. I don’t know what is happening to us, but something is really not right now,” the 33-year-old financial services employee told AFP. “People say things all the time,” the mother-of-one said in a phone interview. “Once I was knocked off a bicycle by a driver who…

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Patari to participate Facebook Music Story


Patari to participate Facebook Music Story LAHORE: Patari, a Pakistani music streaming platform, akin to Spotify and Saavn achieved a milestone as it partnered up with Facebook to participate in Facebook’s Music Stories. A press release by Patari on Thursday announced that Patari will join a small number of streaming sites, such as Spotify, which are testing a new feature on the Facebook app, “Music Stories”. The new post format on the Facebook app allows users to listen to a 30-second preview of a shared song or album. “This collaboration marks…

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IMF urges Pakistan to continue economic


IMF urges Pakistan to continue economic WASHINGTON: The Intern­ational Monetary Fund urged Pakistan on Thursday to continue the reforms undertaken under an IMF-backed programme if it wants to further stabilise its economy. On Wednesday, the IMF executive board completed its 12th and final review of an extended loan facility for Pakistan, enabling immediate disbursement of the final tranche of about $102.1 million. “Moving forward with key structural reforms is pivotal to foster higher and more inclusive growth. Restructuring and attracting private sector participation in public enterprises is needed to ensure their…

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CCP launches guidelines on competition law


CCP launches guidelines on competition law ISLAMABAD: The Competition Commission of Pakistan (CCP) has initiated a plan to revamp its working and existing guidelines on procedural aspects of competition law in the country. During the process, the CCP will also add new guidelines, particularly ones regarding the interpretation and application of provisions relating to prohibition of anti-competitive behaviour. Drafting and publishing these guidelines would help explain competition law in simple terms and therefore benefit the stakeholders, especially businesses and the general public, the CCP said. The commission has published the ‘Guidelines…

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Reserves at all-time high


Reserves at all-time high KARACHI: Pakistan’s total liquid foreign exchange reserves reached an all-time high of $23.4 billion on Sept 23, up 3 per cent from a week ago, the State Bank of Pakistan (SBP) said on Thursday. According to a statement released by the central bank, SBP’s liquid foreign exchange reserves increased by $738 million to $18.4bn compared to $17.6bn in the preceding week. The increase in reserves is mainly attributed to the inflow of $700m from China Development Bank. Net foreign exchange reserves held by commercial banks amounted to…

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Shanghai Electric ‘in discussion to buy


Shanghai Electric ‘in discussion to buy KARACHI: Shanghai Electric Power Co. Ltd is reported to be in discussion for buying a stake in K-Electric Ltd (KE) and has hired agencies to do due diligence on the proposed acquisition, an agency report from Hong Kong said on Thursday. Though there was no concurrent ‘material information’ announcement from the K-Electric on the Pakistan Stock Exchange on Thursday regarding the due diligence, the interest of China’s state-backed Shanghai Electric Power in acquiring a stake in KE is well known. The Chinese company announced its…

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Sindh revives Infrastructure Develop- Board


Sindh revives Infrastructure Develop- Board KARACHI: The Infrastructure Development Board (IDB) was revived by Chief Minister Syed Murad Ali Shah on Thursday. The newly revived board will induct industrialists and members of civil society for the uplift of industrial zones. Mr Shah took the decision in a meeting with a delegation of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) led by S.M. Muneer. The meeting was attended by Sindh Minister for Industries and Commerce, Manzoor Wassan and Secretary for Industries Abdul Rahim Soomro. The FPCCI delegation included Senator…

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Kerosene, jet fuel to cost more


Kerosene, jet fuel to cost more ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) on Thursday suggested no change in the prices of petrol and diesel for October. However, it worked out increase in the prices of almost all other petroleum products that are not in common use. In its working paper, Ogra based on existing high tax rates calculated just a 10 paisa per litre increase in the price of petrol and a 28 paisa per litre reduction in the price of high speed diesel for the next month. Therefore,…

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Spain’s big three renew title battle


Spain’s big three renew title battle MADRID: After another stellar week for Spanish clubs in the Champions League, Real Madrid, Barcelona and Atletico Madrid resume their three-way battle for La Liga supremacy on Sunday. Real were the only Spanish side not to win in midweek, but got a creditable 2-2 draw at Borussia Dortmund to remain on course for the last 16. However, the European champions have now failed to win any of their last three games as draws to Villarreal and Las Palmas have seen their lead at the top…

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Nuclear capable India, Pakistan


Nuclear capable India, Pakistan WASHINGTON: The United States reminded India and Pakistan on Thursday that nuclear capable states do not threaten to use atomic weapons in any conflict. The US government also categorically said that it considered the Sept 18 attack on an Indian military facility in Uri a terrorist attack. The warning to avoid a nuclear conflict followed reports in the international media that both Indian and Pakistani governments had intensified their rhetoric and hinted at the possibility of nuclear military actions against each other. “Nuclear-capable states have the responsibility…

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