KARACHI, AUG 18 (DNA) – Investors at Pakistan Stock Exchange (PSX) have been perturbed and disturbed on seizure of bank accounts and withdrawal of cash from their accounts, hurting the investment trend at the local bourse. Pakistan Stock Exchange Brokers Association wrote a letter to Federal Board of Revenue and Securities Exchange Commission on the field officers of Inland Revenue Department for recovery of demand against the brokerage houses are seizing bank accounts of the brokers, which under your instructions have been earmarked/reserved for funds of “clients only”. Such an action by officers of FBR besides being unlawful also puts the whole clearing cycle of the Exchange in danger.
Taking aim at China, India tightens power grid, telecoms rules
NEW DELHI, AUG 18 (DNA) – India is tightening the rules for businesses entering its power transmission sector and making stringent checks on both power and telecoms equipment for malware – moves that government and industry officials say aim to check China’s advance into sensitive sectors. Chinese firms such as Harbin Electric (1133.HK), Dongfang Electronics (000682.SZ), Shanghai Electric (601727.SS) and Sifang Automation either supply equipment or manage power distribution networks in 18 cities in India.
Luxury hotel chain Hyatt looks to tap opportunity in smaller towns
CHENNAI: The increasing demand from domestic travelers and the underserved nature of markets in tier-ii and tier-iii towns is driving luxury hotel chain Hyatt to begin expanding in those locales.According to Kurt Straub, Vice-President Operations (India), Hyatt Hotels & Resorts, the chain has “ramped up” efforts to increase its footprint in these destinations.“Since domestic travel has become increasingly important in India, we have ramped up our efforts to increase Hyatt’s footprint in tier II and III destinations as these cities and towns are underserved, and we believe that they have great potential,” Straub told.
Emma Stone tops list of best paid actresses
LOS ANGELES, AUG 17 (DNA) – Oscar-winning Emma Stone capped a perfect 12 months on Wednesday as she knocked Jennifer Lawrence off the top spot on Forbes 2017 list of the world s highest-paid actresses. Stone, 28, who won best actress for her role as a struggling performer in “La La Land,” made $26 million in pre-tax earnings in the year up to June, according to the magazine s annual chart. “Friends” star Jennifer Aniston, 48, also leapfrogged Lawrence, grabbing the runner-up spot with earnings of $25.5 million, boosted by numerous endorsement deals across the world.
A fallen soldier’s flag returned to his family after 72 years
TOKYO, AUG 17 (DNA) – A U.S. Marine who served during the World War II traveled back to Japan to return a Japanese flag he found on the body of an enemy soldier. Marvin Strombo found the Japanese flag and vowed to return it to the family of the fallen soldier. Former Marine Marvin Strombo, 93, holds a Japanese flag during a press conference in Tokyo. Strombo came to Japan to return the calligraphy-covered keepsake he took from a fallen Japanese soldier during World War II.
Dubai Bakery makes expensive Dangal-themed cake
DUBAI, AUG 16 (DNA) – On the occasion of India’s Independence Day, Broadway Bakery in Dubai made one of the world’s most costly cakes with Bollywood star Aamir Khan’s movie Dangal theme. According to the bakery, a team of six cake artists and head chef nearly four weeks (about 1,200 man-hours) worked to make the cake worth Rs 25 lac on the request of a client. The cake features Aamir Khan as wrestler and coach Mahavir Singh Phogat and his two on-screen daughters Geeta and Babita Phogat.
Flourishing economy: Investors took $2.10 bn abroad in terms of profit
LAHORE, AUG 16 (DNA)- Economic stats continue to flourish with improvement in law and order situation as foreign investors have taken whooping $2.10 billion abroad from Pakistan in terms of profit in the fiscal year (FY) 2016-17. Similar stats stood at $1.91 billion for the FY 2015-16. According to details available, Pakistan received $2.41 billion of direct foreign and public investment in the previous fiscal year.
India, China troops in high-altitude clash
SRINAGAR, AUG 16 (DNA) – Indian and Chinese troops clashed briefly on a disputed area of land in the Himalayas, officials said Wednesday, exacerbating tensions during a months-long stand-off between the two armies. Chinese troops threw stones at Indian soldiers near Pangong Lake, a major tourist attraction in the picturesque mountain region of Ladakh on Tuesday, an Indian defence official said. He said Chinese soldiers had twice tried to enter the Indian territory but had been pushed back.
Death Toll in Nepal Floods Climb to 91, 38 Still Missing
The death toll in rain- triggered floods and landslides in Nepal has climbed to 91 with 38 persons still missing and over six million people affected by natural calamity. Nepal Ministry of Home Affairs said 2,847 houses were completely damaged in the disaster, My Republica reported. “A committee was formed under the coordination of Home Minister Janardan Sharma to tally details of the loss. The chief secretary and secretaries of 12 ministries are members of the committee,” Ram Krishna Subedi, spokesperson of the Home Ministry, was quoted by the report.
The EU may make it easier for Britain to sign a post-Brexit China trade deal
BEIJING, AUG 15 (DNA) – The European Union’s plan to make it harder for China to acquire European companies could make it easier for Britain to forge a trade deal with Beijing after Brexit. That’s one scenario following a “hard Brexit,” in which the UK retains few, if any, special links to the EU. This would free the UK from the bloc’s rules and restrictions, like the one that requires trade deals to be negotiated by Brussels on behalf of member states. Considering Britain’s desire to sign its own trade deals to bolster its economy post-Brexit, it could emphasize its differences to the EU as part of the negotiations.
