Connect with us

Business

Bitcoin slumps below $20,000 to lowest since December 2020

Investors preferring pulling back from riskier assets amid rising interest rates

Published

on

By

Bitcoin
Bitcoin

Bitcoin dropped below $20,000 on Saturday to its lowest level in 18 months, extending its slide as investors pull back from riskier assets amid rising interest rates.

The biggest cryptocurrency was down 7.1% to $18,993 at 0906 GMT, having earlier touched $18,732, its lowest since December 2020.

It is down about 59% this year, while rival cryptocurrency Ethereum-backed ether is down 73%.

The digital currency sector has been pummelled this week after cryptocurrency lending company Celsius froze withdrawals and transfers between accounts.

The sector has also suffered losses after companies such as Coinbase Global Inc, Gemini and Blockfi said they would lay off thousands of employees as investors ditch risky assets.

SOURCE: REUTERS

Business

PIA resumes Lahore-Kuala Lumpur flight operation

"The PIA was already operating two weekly flights from Islamabad to Kuala Lumpur."

Published by GNN WebDesk

Published

on

By

PIA resumes Lahore-Kuala Lumpur flight operation

Islamabad: The Pakistan International Airlines (PIA) on Sunday resumed Lahore-Kuala Lumpur flight operation after providing the same facility in Islamabad as the coronavirus restrictions eased.

“After Islamabad, the PIA has now resumed flights from Lahore to Malaysia. The first flight left Lahore for Kuala Lumpur this morning,” PIA spokesman Abdullah Hafeez Khan said in a news release.

On this occasion, a simple cake-cut ceremony was held at the Lahore Airport and bouquets were presented to the passengers.

The PIA, the spokesman said, was already operating two weekly flights from Islamabad to Kuala Lumpur.

He said the national flag carrier was gradually increasing the number of its domestic and international flights on special instructions of Minister for Aviation Khawaja Saad Rafique.

Meanwhile, the Aviation Minister said the PIA was increasing the number of flights to different tourist destinations aimed at facilitating passengers during summer vacations.

“Now, the PIA is providing direct access to tourist destinations at home and abroad from Lahore,” Saad Rafique said.

He said flights from Lahore to Gilgit and Skardu were also being operated and “now flights to Baku and Kuala Lumpur have also been arranged.”

The minister said the purpose of these flights was to provide direct and comfortable travel facilities to the people through their national airlines.

Continue Reading

World

Morocco: 27 migrants die in stampede to enter Spain’s Melilla

The incident at the border crossing was the first since Spain and Morocco boosted their bilateral cooperation after Madrid decided to support Rabat’s position on the independence of Western Sahara. 

Published by GNN WebDesk

Published

on

By

Morocco: 27 migrants die in stampede to enter Spain’s Melilla

Moroccan authorities said that 27 migrants were killed and dozens of migrants and police officers were injured in a “stampede” of people trying to cross into the Spanish North African enclave of Melilla.

According to the Moroccan Association for Human Rights (AMDH), the death toll of migrants who died trying to cross from Morocco into the Spanish enclave of Melilla rose to 27 today (June 25). 

On Friday, around 2,000 migrants—many from Sudan—tried to cross the militarized border fence.

At first, five people were reported dead, but later, Moroccan authorities raised the figure to 18. 

“The victims of the tragedy in Melilla agonized for hours under the cruel gaze of those who were supposed to help them and did not do so,” tweeted founder of Walking Borders Helena Maleno Garzon, who also confirmed the report of 27 dead.

Spanish officials said 49 Civil Guards sustained minor injuries while four police vehicles were damaged by rocks thrown by some migrants. 

Videos from the Moroccan side of the border show what appear to be dead bodies and people with severe injuries strewn out on the ground without receiving medical attention. 

Other images show hundreds of people, some with clear injuries, lying in a pile on the ground with their hands tied behind their backs.

Moroccan police used tear gas to disperse those trying to climb the border fence.

Following the horrific incident, several NGOs are calling for an immediate investigation into the treatment of migrants. 

The incident at the border crossing was the first since Spain and Morocco boosted their bilateral cooperation after Madrid decided to support Rabat’s position on the independence of Western Sahara. 

Spanish Prime Minister Pedro Sanchez on Friday applauded the “extraordinary work of the Moroccan government in coordination with Spain to try to stop a violent assault, which was, in this case, well resolved.”

Last year, Moroccan authorities stood passively by as thousands swam into the Spanish enclave of Ceuta amid a diplomatic spat over Spain treating the separatist leader of Western Sahara for coronavirus.

According to Spanish authorities, just 133 people managed to reach Spain during Friday’s border crossing attempt. 

Continue Reading

Pakistan

PM resolves to equip youth with latest education, skills

Pakistan would host 10th Commonwealth Youth Ministers Meeting in Islamabad in January next year.

Published by GNN WebDesk

Published

on

By

PM resolves to equip youth with latest education, skills

Islamabad: Prime Minister Muhammad Shehbaz Sharif Saturday expressed the resolve to take all such measures that could help in increasing the digital transformation and promote literacy and skills of the Pakistani youth in all forms of education and learning.

In a virtual address at the Commonwealth Heads of Government Meeting (CHOGM) being held in Kigali, Rwanda, the prime minister said that about more than sixty percent of the total population of the Commonwealth countries comprised of the youth who held the future of their countries in their hands.

“Further with increased role of technology and use of digital medium, we have come to realize that digital transformation is a key to achieve innovative, inclusive and sustainable growth,” he added.

About the CHOGM, the prime minister said that it gave him immense pleasure that they had gathered to think about their nations.

He appreciated the impacts of such a multilateral forum which could create on their shared goals, values, and principles as per Commonwealth charter.

He also reiterated that Pakistan was ready to contribute to the collective endeavours for the development of Commonwealth youth.

The prime minister also announced that Pakistan would host 10th Commonwealth Youth Ministers Meeting in Islamabad in January next year and invited the Commonwealth youth ministers to visit Pakistan and explore the beauty and diversity of the beautiful country.

Continue Reading

Trending