BUSINESS
Several essential medicines vanish from Pakistani markets
"None of the brands selling lithium carbonate are available in the market for the last couple of months," a renowned psychiatrist and former president of the Pakistan Psychiatric Society (PPS) said while referring to the formulation known as the most effective medicine for the treatment of several psychiatric illnesses, including bipolar disorder.
Uber files: UK union stages 24-hour strike to make CEO accountable
The union on Wednesday asked passengers not to cross the Uber driver picket line and not use the service, along with asking drivers not to open the app. The union, alleging that Uber fundamentally changed in 2017 after Dara Khosrowshahi became CEO, also held a public demonstration at Uber UK's head office at Aldgate Towers in London.
Crypto exchange Zipmex pauses withdrawals until further notice
In a tweet late on Wednesday, Zipmex said that due to a combination of circumstances "beyond our control including volatile market conditions, and the resulting financial difficulties of our key business partners, to maintain the integrity of our platform, we would be pausing withdrawals until further notice".
Hyundai sells 1.88 mn vehicles in first 6 months, Q2 profit jumps 56%
Net profit for the three months ended in June rose to 3.08 trillion won (US$2.34 billion) from 1.98 trillion won during the same period of last year, the company said in a statement. In the six-month period, Hyundai sold a total of 1.88 million vehicles, achieving 43 per cent of its sales target of 4.34 million units for the year.
Tesla sold 75% of its Bitcoin, Musk says Dogecoin still with him
Last year, Tesla made a $1.5 billion investment in Bitcoin and announced that it would accept Bitcoin as payment. In the second-quarter (Q2) earnings call with analysts, Tesla Ceo Elon Musk said that the reason the company sold a bunch of its Bitcoin holdings "was that we were uncertain as to when the COVID lockdowns in China would alleviate".
Wipro records gross revenue of Rs 215.3 billion in Q1
In its financial results, announced under International Financial Reporting Standards (IFRS) for the first quarter ended June 30, the IT services segment revenue was at $2,735.5 million, an increase of 13.3 per cent, while Non-GAAP2 constant currency IT Services segment revenue increased by 2.1 per cent QoQ and 17.2 per cent YoY.
Pakistan rupee, stocks sink due to political uncertainty; Fitch downgrades rating
The growing political temperature has also created a non-time bound political uncertainty in the country. Fitch Ratings downgrading Pakistan's economic growth came with reference to Pakistan's agreement with the International Monetary Fund (IMF) to impose tough measures to increase tax base in the country, aimed at the revival of the Extended Funding Facility (EFF) programme.
Cloud adoption can add $380 bn to India's GDP, create 14 mn jobs: Nasscom
However, India may lose $118 billion in GDP contribution and five million job opportunities by 2026 if businesses and government are late to Cloud adoption, the report warned. With global players heading towards new systems like 3D printing, IoT, robotic automation, slow or low adoption in Cloud may result in Indian industries losing competitive edge and India may lose its attractiveness among investors, expats and new businesses.
Britain's inflation hits fresh 40-year high as fuel, food prices surge
On a monthly basis, the country's CPI rose by 0.8 per cent in June 2022, compared with a rise of 0.5 percent in June 2021, according to the Office for National Statistics (ONS). The increase in annual inflation was driven by rising fuel and food prices, and these were only slightly offset by falling second-hand car prices, said Grant Fitzner, ONS chief economist.
Noida Supertech Twin Towers to be demolished on August 21
On Tuesday, a meeting was held between Noida Authority and Edifice Engineering company in which people from the apartment association were included. Edifice Engineering has submitted a report in which it said the twin towers will be demolished at 2.30 p.m. on August 21. During the meeting, Edifice Engineering provided information about preparations for demolishing the towers What has been done and what is left.
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