Author: i2wtc

The Supreme Court of Pakistan (SCP) on Monday continued hearing on a case concerning the applicability of super tax to provident funds. A five-member constitutional bench, headed by Justice Aminuddin Khan, is examining the arguments from the Federal Board of Revenue (FBR) and opposing counsel. During proceedings, FBR counsel Asma Hameed argued, “The legislature has provided partial relief to provident funds under the super tax law.” Justice Muhammad Ali Mazhar remarked that Section 53 of the Income Tax Ordinance relates to exemptions, adding: “A fund is not anyone’s private property; trustees manage it, and tax is applied to the relevant…

This aerial drone photo taken on Sept. 15, 2025, shows a first-stage propulsion system test for the Tianlong-3 liquid carrier rocket conducted on an offshore launch pad at the Haiyang Oriental Aerospace Port in east China’s Shandong Province. A first-stage propulsion system test for the Tianlong-3 large liquid-propellant carrier rocket was successfully held here on Monday.Independent development of the Tianlong-3 rocket began in March 2022 by Chinese commercial aerospace company Space Pioneer. The rocket is 72 meters in length with a takeoff mass of 600 tonnes. Its first stage is equipped with nine “Tianhuo-12” engines operating in parallel. The rocket…

Karachi Mayor Murtaza Wahab on Monday highlighted tensions between the Pakistan People’s Party and Jamaat-e-Islami during a press conference. With the city reeling from a second wave of monsoon rain, Wahab accused JI of using rain-caused disaster to besmirch the name of PPP, claiming that the opposition party had spread false propaganda. “I have come today to inform the people of Karachi about the facts. Our political opponents have launched negative propaganda regarding the Hub Canal and Shahrah-e-Bhutto.” The mayor of Karachi had started the press conference, urging ones to keep political differences out of the equation when disaster strikes,…

The property tax authority in Ann Arbor, Michigan, said that Federal Reserve Governor Lisa Cook hasn’t broken rules for tax breaks on a home there that Cook declared her primary residence.The finding, which came in response to a Reuters request that the city review Cook’s property records, could boost Cook’s defense against efforts by the Trump administration to remove her from the Federal Reserve board.Ann Arbor has “no reason to believe” that Cook violated property tax rules, City Assessor Jerry Markey told Reuters. Cook has at times lived elsewhere and city records indicate she sought permission from Ann Arbor authorities to rent out the Michigan home on a short-term basis.Temporary absence…

Advocate Imaan Mazari has filed a complaint with the Harassment Committee against Islamabad High Court (IHC) Chief Justice Sardar Muhammad Sarfraz Dogar, following a verbal altercation at the court. Justice Saman Rafat Imtiaz, who heads the Women’s Harassment Inquiry Committee at the Islamabad High Court, has received the complaint against the chief justice. The complaint requests an inquiry under the Protection Against Harassment of Women at the Workplace Act to determine whether Chief Justice Dogar made gender-based and threatening remarks toward Imaan Mazari, and seeks to hold the chief justice accountable for harassment of the complainant. Read: Imaan Mazari, CJ Dogar…

Mike Intrator, Chief Executive Officer and founder of CoreWeave, (C) celebrates after ringing the opening bell surrounded by Executive Leadership and family during the company’s Initial Public Offering (IPO) at the Nasdaq headquarters on March 28, 2025 in New York City. Michael M. Santiago | Getty ImagesCoreWeave shares jumped almost 8% on Monday after the provider of cloud infrastructure for artificial intelligence workloads disclosed an order worth at least $6.3 billion from Nvidia.Under the terms of the arrangement, Nvidia “is obligated to purchase the residual unsold capacity” through April 2032, CoreWeave said in a filing. The company said it plans…

Hearings on pre-arrest bail petitions filed by three Pakistan Tehreek-i-Insaaf (PTI) Members of the National Assembly, (MNA), including Asif Khan, Sajid Khan Mohammad and one other, in the November 26 D-Chowk protest case, were heard on Monday in the anti-terrorism court in Islamabad. All three bail pleas were rejected by Judge Tahir Abbas Supra due to the fact that the petitioners did not present themselves in court. On November 13, PTI chairman Imran Khan made a “final call” for nationwide protests to be held on November 24, demanding the restoration of PTI’s electoral mandate, the release of imprisoned party members, and…

Stephen Miran, chairman of the Council of Economic Advisers and US Federal Reserve governor nominee for US President Donald Trump, during a Senate Banking, Housing, and Urban Affairs Committee confirmation hearing in Washington, DC, US, on Thursday, Sept. 4, 2025.Daniel Heuer | Bloomberg | Getty ImagesThe Senate is expected to vote Monday on President Donald Trump’s pick to join the Federal Reserve, Stephen Miran, one day before the central bank is set to meet to consider cutting interest rates.A procedural vote on Miran’s nomination to the Fed Board of Governors is expected to begin at 5:30 p.m. ET, before a…

The National Disaster Management Authority (NDMA) has issued new figures on river flows with rivers seeing decreased levels at different points in Punjab, while Sindh braces for higher levels. NDMA has also warned of the new monsoon spell clouding the upper regions of the country to hit by September 16. In the River Chenab, the flow is normal with a gradual decrease at Trimmu and upstream areas, including Marala, Khanki, and Qadirabad. At Panjnad on the Chenab, a high flood wave of 308,000 cusecs is present. Severe flood conditions persist in southern Multan, Muzaffargarh, Rajanpur, Lodhran, Bahawalpur, Rahim Yar Khan,…

Tesla CEO Elon Musk attends the Saudi-U.S. Investment Forum, in Riyadh, Saudi Arabia, May 13, 2025. Hamad I Mohammed | ReutersTesla’s shares have finally turned positive for the year.After a dismal first quarter, which was the worst for the stock in any period since 2022, and a brutal start to April, following President Donald Trump’s announcement of sweeping new tariffs, Wall Street has again rallied around the electric vehicle maker.The stock rose 3.6% on Monday to $410.26, topping its closing price of 2024 by over $6. It’s up 85% since bottoming for the year at $221.86 on April 4. A…