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UAE to invest $1 billion in Pakistani companies: WAM

UAE to invest $1 billion in Pakistani companies: WAM

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UAE to invest $1 billion in Pakistani companies: WAM
GNN Media: Representational Photo

The United Arab Emirates intends to invest $1 billion in Pakistani companies across various sectors, state news agency (WAM) reported citing an official source in Abu Dhabi.

The UAE is keen to continue cooperation with Pakistan “in various fields, which include gas, energy infrastructure, renewable energy, health care,” the agency added.

The move will likely help revive investor sentiment in the country, which has been beset by dwindling foreign exchange reserves as well as a depreciating rupee. However, as an IMF bailout programme becomes clearer, sentiment has improved and the stock market on Friday rallied by some 670 points.

SOURCE: REUTERS

World

Torrential rain lessens in South Korean capital amid heavy flood damage

Subway stations and several roads there had been blocked.

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Torrential rain lessens in South Korean capital amid heavy flood damage

Seoul: Torrential rains that have slammed South Korea's capital, Seoul, diminished on Wednesday after killing at least nine people and damaging about 2,800 homes and other buildings.

More rain was forecast for Wednesday, but less than the heavy downpours on Monday and Tuesday that submerged some streets and buildings, trapping people in flooded apartments and stranding cars. 

At least five people had been killed in Seoul as of early Wednesday, as well as three in the neighbouring Gyeonggi Province and one in Gangwon Province, according to the Central Disaster and Safety Countermeasures Headquarters.

At least 17 people have been injured, and seven are missing.

Flooding in some buildings around the glitzy Gangnam district continued on Tuesday, while subway stations and several roads there had been blocked.

Data showed at least 2,800 public and private facilities had been damaged across South Korea, and more than 1,100 households had been displaced. Most highways and subway lines had been cleared by Wednesday.

The accumulated rainfall in Seoul since midnight Monday stood at 525mm as of 7 a.m. Wednesday, according to the Korea Meteorological Administration (KMA), with more forecast. In neighbouring Yangpyeong County, total rainfall hit 532.5 mm.

The KMA expects rain to continue in most parts of the country, with especially heavier rain in Chungcheong Province. The agency predicted that rainfall would gradually subside in many parts of the greater Seoul area and Gangwon Province.

South Korean President Yoon Suk-yeol will preside over a meeting at 10 a.m. on Wednesday to discuss damage and countermeasures against flooding. Separately, the government and the ruling People Power Party are expected to hold an emergency meeting to discuss fiscal support for damage recovery.

SOURCE: Reuters

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Pakistan

Court grants two-day physical remand of Shebaz Gill

The case hearing took place amid strict security arrangements. 

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Court grants two-day physical remand of Shebaz Gill

Islamabad: A court in the federal capital Wednesday granted a two-day physical remand of Pakistan Tehreek-e-Insaf (PTI) senior leader Shahbaz Gill, who was arrested on charges of alleged sedition and inciting the public against the state institutions.

In a sedition case, Gill was produced before the court today where the Islamabad Police sought his physical remand to recover the mobile phone and the device which he used to make statements. 

Judicial magistrate Omar Bashir reserved his verdict, after hearing the petition, before granting a two-day physical remand. 

The case hearing took place amid strict security arrangements. 

It is pertinent to mention here that Shahbaz Gill was arrested by Islamabad police on Tuesday over a case of incitement to rebellion registered against him in the Bani Gala police station. 

The FIR was registered under sections 34 (common intention), 109 (abetment), 120 (concealing design to commit offence punishable with imprisonment), 121 (waging war against state), 124-A (sedition), 131 (abetting mutiny, or attempt to seduce a soldier, sailor or airman from his duty), 153 (provoking to cause riot), 153-A (promoting enmity between different groups),  505 (statement conducing to public mischief),  and 506 (punishment for criminal intimidation) of the Pakistan Penal Code (PPC). 

Besides other charges, clauses related to spreading anarchy and hatred were added to the FIR. 

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Pakistan

More rain expected from August 10-13: PMD

Travelers and tourists are advised to remain more cautious

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More rain expected from August 10-13: PMD

Islamabad: Pakistan Meteorological Department has predicted more rains in Kashmir, Gilgit-Baltistan, Islamabad, and Punjab, Khyber Pakhtunkhwa, Sindh, and parts of Balochistan from August 10-13 with occasional gaps.

The monsoon currents continuously penetrating the country are likely to become stronger from August 10.

About the possible impacts of rain, the met office revealed that heavy rains may generate urban flooding in Rawalpindi/Islamabad, Peshawar, Nowshera, Mardan, Faisalabad, Lahore and Gujranwala from August 10-12.

Flash flooding is expected in local Nullahs of Islamabad/Rawalpindi, Shakargarh, Sialkot, Narowal, Abbottabad, Mansehra, Dir, Karak, Lakki Marwat, Bannu, and Kashmir from August 10-12.

Heavy Rains may generate urban flooding in Karachi, Thatta, Badin, Hyderabad, Dadu, Jamshoro, Sukkur, Larkana, Shaheed Benazirabad, and Mirpurkhas from August 11-13.

Flash flooding is expected in Qilla Saifullah, Loralai, Barkhan, Kohlu, Mosa Khel, Sherani, Sibbi, Bolan, Kalat, Khuzdar, Lasbela, Awaran, Turbat, Panjgur, Pasni, Jiwani, Ormara, Gwadar and hill torrents of Dera Ghazi Khan during the forecast period.

Catchment areas of Ravi, Jhelum and Chenab may receive heavy downpours causing the water levels to rise significantly during the forecast period.

The rainfall may trigger landslides in Kashmir, hilly areas of Khyber Pakhtunkhwa, Galiyat, Murree, Chillas, Diamir, Gilgit, Hunza, Astore, Ghizer, and Skardu during the forecast period

Travelers and tourists are advised to remain more cautious during the forecast period.

All concerned authorities are advised to remain alert and to take necessary precautionary measures during the forecast period.

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