Business Archives - Page 7 of 35

Traders to Hold Nationwide Strike on August 28

27Aug

By Tahreem Akram2 Comments

Business, Pakistan

Traders to Hold Nationwide Strike on August 28

Traders across Pakistan will hold a nationwide shutterdown strike on August 28, responding to the government’s refusal to withdraw the controversial Tajir Dost Scheme. Kashif Chaudhry, President of the Traders Association, announced the strike after the government failed to address key concerns. Chaudhry revealed that the Federal Board of Revenue (FBR) has been in regular contact, but after two months of unproductive talks, he stated, “We will no longer continue negotiations without concrete action.” The strike targets the government’s decision to maintain the Tajir Dost Scheme and its unwillingness to revise agreements with Independent Power Producers (IPPs). Chaudhry emphasized that traders will not deposit advance tax under the scheme until the government abolishes it. He also wa...

Three Killed in Knife Attack at Solingen Festival

24Aug

By Aqsa AzamNo Comments

Business

Three Killed in Knife Attack at Solingen Festival

Three people were killed and eight others seriously wounded in a stabbing attack on Friday night at Solingen festival, a city in west Germany. A whole police department is running investigations to find the culprit. However, the real criminal is still at large. A joyous celebration turned tragic on Friday night when a knife attack claimed the lives of three people and injured eight others at a Solingen festival, a city in western Germany. The event was part of the city's 650th-anniversary celebrations. The jubilant event had drawn thousands of attendees to the central Fronhof market square. The attack occurred around 9:40 p.m. local time near a live music stage. Witnesses reported seeing a lone male assailant randomly stabbing people in the crowd before fleeing the scene. Among the ...

Flash Floods in Tripura: 10 Dead, Thousands Displaced

23Aug

By Aqsa AzamNo Comments

Business

Flash Floods in Tripura: 10 Dead, Thousands Displaced

Ten people have lost their lives due to the massive floods in Tripura, including a 12-year-old girl. Over 34,000 people have been forced to leave their homes and live in relief camps. The flood situation worsens, with heavy rainfall continuing and rivers overflowing. The floods affect multiple states in northeast India, including Tripura, Assam, Meghalaya, and Sikkim. Tripura, a state in northeastern India, is facing one of its worst flood situations in decades due to relentless heavy rains. The floods in Tripura, which began earlier this week, have claimed the lives of 10 people, including a 12-year-old girl. The most affected areas are in South Tripura, Gomati, and Khowai districts. More than 34,000 people have been forced to leave their homes. Over 6,600 families taking refuge in...

Australia Greenlights the World’s Largest Solar Hub

23Aug

By Aqsa AzamNo Comments

Business

Australia Greenlights the World’s Largest Solar Hub

Australia is planning to build the world's largest solar hub and battery farm. SunCable, the project, will cost an estimated $24 billion and generate enough clean energy to power three million homes in Australia. Additionally, the project will export excess energy to Singapore via an undersea cable, supplying about 15% of the city-state's electricity needs. Australia has given the green light to the world's largest solar hub and battery farm. This project is set to become the largest solar energy project in the world. The project, spearheaded by the SunCable company, is backed by tech billionaire and green energy advocate Mike Cannon-Brookes. Moreover, it will cost around $24 billion and aims to generate enough electricity to power three million homes. The solar farm will be located...

Government Considers Income Tax Relief for Salaried Workers

3Aug

By Tahreem AkramNo Comments

Business, Pakistan

Government Considers Income Tax Relief for Salaried Workers

In response to economic challenges, the federal government is looking into providing income tax relief for salaried individuals. Prime Minister Shehbaz Sharif has directed his economic team to explore options for financial assistance. Sources from the Ministry of Finance reveal that the government is considering a relief package worth Rs 40 billion. This package would benefit individuals earning up to Rs 100,000 per month. The goal is to offer support to those in lower salary brackets who are facing increasing economic pressures. Before finalizing any decisions, the government plans to consult with the International Monetary Fund (IMF) to ensure that the relief package aligns with existing financial agreements. The proposed relief would not come from the annual budget but would be f...