Author: i2wtc

KARACHI: Flames engulfed a five-storey factory in Karachi’s Landhi Export Processing Zone (EPZ) on Thursday morning causing the building to collapse and injuring at least three workers.  According to Rescue 1122, the labourers attempted to exit the building when the fire broke out and were able to evacuate with the fire officers’ assistance.  The chairperson of the Landhi EPZ told the media that site’s own fire tender reached the site first and then more fire tenders were called.  Factories nearby were evacuated as well given the scale of the fire.  This marks the fourth factory fire in Landhi EPZ in the…

Block shares jumped 6% in extended trading on Thursday after the fintech company increased its forecast for the year.Here is how the company did, compared to analysts’ consensus estimates from LSEG.Earnings per share: 62 cents adjusted vs. 69 cents expectedRevenue: $6.05 billion vs. $6.31 billion expectedRevenue fell close to 2% from $6.16 billion a year earlier. Block said gross profit rose 14% from a year earlier to $2.54 billion, beating analysts’ estimates of $2.46 billion for the quarter. Gross payment volume at Square increased 10% to $64.25 billion, while Cash App recorded GPV of $2.37 billion.Block raised its guidance for…

Listen to article The National Electric Power Regulatory Authority (NEPRA) has approved a relief of Rs1.89 per unit in electricity tariff for consumers across the country under the quarterly adjustment charges for April–June 2025. The power tariff cut—expected to bring Rs55.87 billion in relief—will apply across the country, including K-Electric consumers. However, lifeline and pre-paid meter users are excluded from the benefit. Read More: Power consumers may get Rs0.77 per unit relief The adjustment will be effective for three months, from August to October 2025, subject to final approval by the federal government. The decision comes after distribution companies requested tariff reductions under…

WASHINGTON, DC August 6: US President Donald Trump shakes hands with CEO of Apple Tim Cook during a meeting in the Oval Office of the White House on Wednesday August 6, 2025. Demetrius Freeman | The Washington Post | Getty ImagesPresident Donald Trump has made clear that he wants Apple to make iPhones in the U.S.Apple CEO Tim Cook is doing what he can to appease the commander in chief, without making that ultimate concession.Cook on Wednesday appeared at the White House with President Trump to announce plans to spend about $600 billion over four years in the U.S. Apple…

U.S. President Donald Trump speaks, as he makes an announcement on the economy, in the Oval Office at the White House in Washington, D.C., U.S., August 7, 2025. Jonathan Ernst | ReutersU.S. President Donald Trump on Thursday signed a memorandum that requires universities to collect admissions data to prove they are not engaged in efforts to shape their student bodies along racial lines, according to the White House.But the largest higher education policy and lobbying organization in the U.S. said the wording of the memo was vague. The American Council on Education also said it may be illegal for schools…

Listen to article LAHORE: With monsoon activity intensifying across Pakistan, the authorities concerned have issued fresh warnings and taken precautionary measures as flood risks loom, particularly in Punjab and parts of Khyber-Pakhtunkhwa, Gilgit-Baltistan and Azad Jammu and Kashmir. Despite the active monsoon, water flow in major rivers — including the Indus at Tarbela, Kalabagh, Chashma, and Taunsa — remains within normal levels, as do tributaries of the Chenab, Jhelum, Ravi, and Sutlej. Tarbela Dam is currently 96% full, Mangla Dam is at 62% capacity, and Indian reservoirs are reportedly at 56% capacity, according to PDMA data. Read More: Hub dam project to…

The Omada Health logo is displayed on a smartphone screen.Sopa Images | Lightrocket | Getty ImagesOmada Health reported quarterly results for the first time since its initial public offering in June.Here’s how the company did based on average analysts’ estimates compiled by LSEG:Loss per share: 24 centsRevenue: $61 million vs. $55.2 million expectedThe virtual care company’s revenue increased 49% in its second quarter from $41.21 million a year earlier. The company reported a net loss of $5.31 million, or a loss of 24 cents per share, compared to a net loss of $10.69 million, or a loss of $1.40 per share,…

Listen to article Prime Minister Shehbaz Sharif on Thursday termed Pakistan’s annual population growth rate of 2.55% an “alarming trend” and called for urgent and coordinated action to address the growing challenge, Associated Press of Pakistan reported. Chairing a high-level meeting at the Prime Minister’s Office, the premier said the rising numbers demand a comprehensive national strategy to manage population growth and ensure sustainable development. “We need comprehensive planning to ensure our growing population, especially the youth, becomes a productive part of the economy,” the premier said, describing the country’s youth as its greatest asset. Pakistan’s population, which was 31 million at…

Firefly’s CEO Jason Kim reacts during the company’s IPO at the Nasdaq MarketSite in New York City, U.S., August 7, 2025. Jeenah Moon | ReutersFirefly Aerospace jumped more than 34% in its Nasdaq debut on Thursday after pricing shares above its expected range.The stock closed at $60.35, valuing the company at roughly $8.5 billion. Shares initially opened at $70 under the ticker symbol FLY. Space technology has gained momentum in recent years as companies such as Elon Musk’s SpaceX amass more funding and government contracts. Firefly is the third space company to go public this year after Voyager Technologies and Karman Holdings.The rocket and lunar lander…

Online sports betting giant Flutter reported second-quarter earnings that beat Wall Street expectations Thursday.The company reported adjusted earnings of $2.95 per share versus an estimated $2.08, according to a survey of analysts by LSEG. Revenue came in slightly higher than expectations at $4.19 billion against consensus expectations of $4.13 billion.Flutter owns the dominant U.S. sportsbook FanDuel, and FanDuel’s holding a winning hand.Its U.S. revenue for the quarter of $1.79 billion came in slightly higher than expectations, and adjusted earnings before interest, taxes, depreciation and amortization, or EBITDA, was nearly $100 million higher than analyst consensus.June was especially good for FanDuel…