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Five, including four students killed in bus-auto collision 

A head-on collision between a bus and auto rikshaw claimed lives of five including four students and wounded twelve others in Toba Tek Singh on Tuesday morning, GNN reported.

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Five, including four students killed in bus-auto collision 
GNN Media: Representational Photo

Toba Tek Singh: A head-on collision between a bus and auto rikshaw claimed lives of five including four students and wounded twelve others in Toba Tek Singh on Tuesday morning, GNN reported.

The passenger bus collided with a motorcycle rickshaw which was carrying school children.

The collision caused the rickshaw to overturn, killing four school students on the spot. Twelve others, including the driver of the rickshaw, were injured in the mishap.

Rescue teams and police reached the spot after getting information and shifted the deceased and injured to a nearby hospital.

The rikshaw driver, however, succumbed to his injuries in hospital.

All students were aged between 10-18 years.

As per preliminary reports, the bus driver lost control of the vehicle owing to high speed. His reckless driving and attempt to negotiate a turn at high speed, resulted in the horrific collision.

The bus was traveling from Faisalabad to Chishtian.

According to the rescue, the bus driver managed to escape.

Mehak Javed

Mehak Javed is immensely creative and an enthusiastic journalist, contributing in the publication of timely and accurate news. She is a skilled writer along proven history of achievement in the field with several years of professional experience. Mehak is working with GNN since 2020.

Pakistan

Key federal cabinet meeting to be held today

Federal Cabinet is scheduled to discuss a 13-point agenda

Published by Siddra Sumreen

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Key federal cabinet meeting to be held today

Islamabad: The federal cabinet will meet today in Islamabad to discuss economic and political situation including current status of Covid-19 in the country.

According to details, Prime Minister Imran Khan will preside over the federal cabinet meeting at his office which is scheduled to discuss a 13-point agenda.

A detailed briefing on economic indicators will be given in the Cabinet meeting. The meeting will also be briefed on the vacancies of CEOs and MDs in various ministries and divisions while the cabinet will approve relaxation in the National Aviation Policy 2019 Act.

The cabinet meeting will also consider Roll 68 of Civil Aviation of the flight altitude of aircraft. The cabinet will also approve vehicle import scheme for officials of Pakistani embassy in Iran.

 

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Technology

Twitter Chief Technology Officer Agrawal to replace Dorsey as CEO

Dorsey is stepping down as chief of the social media company.

Published by Faisal Ali Ghumman

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Twitter Chief Technology Officer Agrawal to replace Dorsey as CEO

Twitter CEO Jack Dorsey is stepping down as chief of the social media company, effective immediately. Parag Agrawal, Twitter’s chief technology officer, will take over the helm, the company said Monday.

Shares of Twitter were down about half a percent before noon on Monday.

Dorsey, 45, was serving as both the CEO of Twitter and Square, his digital payments company. Dorsey will remain a member of the board until his term expires at the 2022 meeting of stockholders, the company said. Salesforce President and COO Bret Taylor will become the chairman of the board, succeeding Patrick Pichette, a former Google executive, who will remain on the board as chair of the audit committee.

 “I’ve decided to leave Twitter because I believe the company is ready to move on from its founders,” Dorsey said in a statement, though he didn’t provide any additional detail on why he decided to resign.

Agrawal will have to meet Twitter’s aggressive internal goals. The company said earlier this year it aims to have 315 million monetizable daily active users by the end of 2023 and to at least double its annual revenue in that year.

Agrawal, who’s served as CTO since 2017, has been with Twitter for more than a decade. He had been in charge of strategy involving artificial intelligence and machine learning and he led projects to make tweets in users’ timelines more relevant to them.

Agrawal was also previously tasked with finding a leader for Project Bluesky, a research project Twitter launched to establish open and decentralized standards for social media platforms. Dorsey had previously said Bluesky will help social media companies collaborate on how posts are promoted to users and will give users more control over the content they see. Bluesky could also make it easier for the social networks to enforce restrictions against hate speech and other abuse, essentially helping them share the load at a lower cost.

Agrawal held research internships at AT&T, Microsoft and Yahoo prior to joining Twitter.

Dorsey said in an email he published on Twitter that Agrawal has been his choice to lead the company “for some time given how deeply he understands the company and its needs.”

Dorsey was nearly ousted last year when Twitter stakeholder Elliott Management had sought to replace him. Elliott Management founder and billionaire investor Paul Singer had wondered whether Dorsey should run both of the public companies. Singer called for Dorsey to step down as CEO of one of them before the investment firm reached a deal with Twitter’s management.

Dorsey, who co-founded the social media giant in 2006, served as CEO until 2008 before being pushed out of the role. He returned to lead Twitter in 2015 after former CEO Dick Costolo stepped down.

Shares have jumped 85% since Dorsey took over as CEO on Oct 5. 2015. Square stock has surged 1,566% since its initial public offering on Nov. 19, 2015.

SOURCE: CNBC

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Technology

Bitcoin, other cryptos surge after sharp sell-off

The price of bitcoin climbed back above $58,000, rising 8.6% in 24 hours to $58,607.75, according to Coin Metrics data.

Published by Faisal Ali Ghumman

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Bitcoin, other cryptos surge after sharp sell-off

Bitcoin and other cryptocurrencies surged Monday after a sharp sell-off at the end of last week.

The price of bitcoin climbed back above $58,000, rising 8.6% in 24 hours to $58,607.75, according to Coin Metrics data.

Other digital assets also rose, with ether jumping more than 9% to $$4,440.99 and XRP up 9% at around 99 cents.

Vijay Ayyar, head of Asia Pacific at cryptocurrency exchange Luno, said early reports that the new, heavily-mutated omicron Covid variant came with milder symptoms was giving the market a boost.

“We’re seeing news of the variant being potentially weaker in terms of symptoms in early analysis, which has bolstered the market comeback,” Ayyar said via email. “Hence, smart investors have probably bought this dip.”

Bitcoin last week sank as low as $53,549, its lowest level since early October, amid a broader sell-off in stocks and other riskier assets on the back of fears over the new coronavirus variant.

The world’s largest digital currency was briefly down more than 20% from its recent all-time high of nearly $69,000, officially entering bear market territory. Bear markets are typically defined by a decline of 20% of more from recent highs.

The new Covid variant, first identified in South Africa, has spread to multiple countries including the U.K., Germany and Italy.

The US, UK and other nations have restricted travel with some African countries in response. Britain has also introduced new measures to tackle the new virus mutation, including mandatory mask wearing in shops and public transport in England.

On Sunday, Dr. Angelique Coetzee, the South African doctor who first spotted the omicron variant, described its symptoms as “extremely mild,” soothing fears of a potential return of lockdown restrictions during the holidays.

“The global environment did add to the uncertainty across all risk asset classes as we saw last week, but the bounce back always shows us how strong the uptrend is, which is what we’re seeing here,” Ayyar said.

If bitcoin loses $48,000 to $50,000 on a daily or weekly basis, “that would definitely imply bearishness,” he added. But for now, Ayyar says “we’re still in bull market territory.”

SOURCE: CNBC

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