ogood2054

Govt rehires bureaucrats at PARCO

ISLAMABAD: The government has reconstituted the board of Pak-Arab Refinery Company (PARCO) – a strategically vital and integrated energy firm – retaining a federal minister and all but one bureaucrat as directors for three more years. Out of 10 board seats, Pakistan has the right to appoint six directors, while the remaining seats are filled…

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KPT sets cargo handling record in 138-year history

KPT surpassed its previous all-time cargo handling record of 54.685 million tonnes during this fiscal year Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry on Sunday said the Karachi Port Trust (KPT) had achieved the highest annual cargo handling volume in its 138-year history, describing the milestone as a reflection of the growing maritime sector…

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VW overhaul could be ‘biggest in history’

BERLIN: Volkswagen is considering shutting four German factories and ramping up job cuts to as many as 100,000, two people familiar with the matter said on Friday, in what could be the biggest ever overhaul in the industry. Members of VW’s supervisory board have been informed of the plans, which are due to be discussed…

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Bolivia ends 15-year dollar peg

LA PAZ: Bolivia will adopt a flexible exchange-rate system, the government said on Friday, effectively devaluing the currency by ending a 15-year dollar peg in a major policy shift aimed at restoring economic stability. Bolivia’s central bank will oversee the shift, as the government aims to “strengthen macroeconomic stability, preserve external competitiveness and contribute to…

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Glass industry pushes for 5% profit benchmark

ISLAMABAD: The All Pakistan Glass Manufacturers Association (APGMA) has urged the National Tariff Commission (NTC) to reconsider its methodology in the ongoing anti-dumping investigation concerning soda ash imports from Turkiye and Kenya, arguing that the commission has adopted an unjustified profit assumption while calculating the “non-injurious price”. In a representation to NTC, APGMA Secretary General…

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Google limits Meta’s use of its Gemini AI models, FT reports

Capacity shortfall disrupts some of Meta’s internal AI projects, with several other Google clients also affected The Google logo is pictured at the entrance to the Google offices in London, Britain January 18, 2019. PHOTO: REUTERS Google has put limits on Meta’s use of its Gemini AI models after the social media company sought more computing capacity than the rival tech group could provide,…

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