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☆ TikTok Star Is Killed in Third Death of Social Media Influencer in Iraq
▼ + stars: | 2024-04-28 | by ( Alissa J. Rubin | ) www.nytimes.com time to read: +1 min

It took less than 46 seconds for the helmeted assassin to pull over his motorcycle, walk to the driver’s side of the S.U.V., yank open the door and fire his handgun four times, killing one of Iraq’s most prominent TikTok personalities, a 30-year-old woman whose name on social media was Um Fahad. The Iraqi Interior Ministry, which released the video, said it had formed a committee to investigate her death. The victim, whose real name was Ghufran Mahdi Sawadi, had become popular on social media sites, especially TikTok and Instagram, where her videos showed her wearing tight or revealing clothing, or singing and cuddling her young son. They won her some 460,000 followers, but also drew the ire of conservatives in Iraqi society and in the government. At one point, officials ordered Ms. Sawadi jailed for 90 days, reprimanding her for a post that showed her dancing at her 6-year old son’s birthday party.

Persons: yank, Fahad, Mahdi Sawadi, cuddling, Sawadi, reprimanding Organizations: Iraqi Interior Ministry Locations: Baghdad

Baghdad, Iraq CNN —Iraqi social media star Ghufran Sawadi, better known as Umm Fahad, was shot dead outside her home in Baghdad, the capital of Iraq, on Friday night, a Baghdad police source told CNN. The attack took place in the Zayouna area east of Baghdad, and was captured on video by a surveillance camera and shared on social media. A Baghdad police source confirmed the authenticity of the video to CNN. Other Iraqi social media personalities have previously been targeted in deadly attacks. Most recently, another popular Iraqi TikTok personality, Noor Alsaffar, known as Noor BM, was shot dead in Baghdad in September 2023, an Iraqi security source told CNN at the time.

Persons: Ghufran, Umm Fahad, Sawadi, ” Sawadi, ”, Noor Alsaffar, Noor, Alsaffar Organizations: Iraq CNN, CNN Locations: Baghdad, Iraq, Iraqi, Instagram

☆ Amazon to pay $1.9 million to migrant contract workers to settle claims of human rights abuses
▼ + stars: | 2024-02-23 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +4 min

Amazon will pay more than 700 migrant workers roughly $1.9 million to settle claims they suffered human rights abuses as a result of exploitative labor contracts in Saudi Arabia. While they worked at Amazon warehouses, the workers were housed in accommodations that were "overcrowded and dirty, infested with bed bugs and lacking even the most basic facilities," Amnesty wrote. The abuses suffered by workers were so severe that they likely amounted to "human trafficking for the purpose of labor exploitation as defined by international law and standards," Amnesty wrote in the October report. Amazon has disputed regulators' allegations, and it has said it continues to invest in worker safety. WATCH: Amazon's worker safety hazards come under fire from regulators and the DOJ

Persons: Verité, Abdullah Fahad Al, AFMCO, they're Organizations: Amazon, Amnesty, International Consortium of Investigative Journalists, Investigative Journalism, Guardian Locations: Robbinsville , New Jersey, Saudi Arabia

RIYADH, Saudi Arabia (AP) — Cristiano Ronaldo walked off the field with the gleeful chants of “Messi, Messi, Messi!” ringing in his ears from delighted Al-Hilal fans who had just watched their Saudi Pro League team beat the Portugal superstar's Al-Nassr 3-0 in the Riyadh Derby on Friday. Saudi soccer has not been the same since the former Real Madrid and Manchester United forward completed a move last December. Lots of people want to be like Cristiano Ronaldo but few want to work like Cristiano Ronaldo. Ronaldo may have his work cut out to help his team win title No. 10 but, given his form so far this season, he may still have the last laugh with the Messi chants fading away.

Persons: — Cristiano Ronaldo, “ Messi, Messi, Al, Portugal superstar's, Ballon, — Aleksandar Mitrovic, Milinkovic, Savic, Hilal, Ronaldo, Cristiano, ”, Fahad, “ Al, Sadio Mane, Marcelo Brozovic, Alex Telles, “ Cristiano, ” Al, Luis Castro, Cristiano Ronaldo, ” Ronaldo, Mitrovic, Hilal’s, Germain, Neymar, Ruben Neves, Kalidou Koulibaly, Salem, Saleh Al, Shehri, Lionel Messi's, ___ Organizations: Saudi Pro League, Riyadh Derby, Serbian, Al, King Fahd International, Real Madrid, Manchester United, Fahad Al, Associated Press, Liverpool, Inter Milan, Paris Saint, English Premier League, Saudi Arabian Locations: RIYADH, Saudi Arabia, Portugal, Riyadh, Saudi Arabian, Saudi, Al, Hilal, Asia, Paris, Brazil, Lionel Messi's Argentina, cryptocurrency

☆ Fahad Shah: Award-winning Kashmir journalist in press freedom case released after nearly two years behind bars
▼ + stars: | 2023-11-23 | by ( Rhea Mogul | ) edition.cnn.com time to read: +4 min

Hong Kong CNN —A Kashmir journalist who was arrested under India’s sedition and anti-terror laws has returned home Thursday after being released on bail following nearly two years behind bars. Critics say Shah’s case highlights declining press freedoms in the contested region. Claimed in its entirety by both India and Pakistan, the mountainous Kashmir region has been at the epicenter of an often-violent territorial struggle between the nuclear-armed neighbors for more than 70 years. On Monday, the Jammu & Kashmir and Ladakh High Court ordered his release and quashed some of the charges, according to a court document seen by CNN. “The arrest of Fahad Shah shows Jammu and Kashmir authorities’ utter disregard for press freedom and the fundamental right of journalists to report freely and safely,” said Steven Butler, Committee to Protect Journalists’ Asia program, at the time.

Persons: Fahad Shah, Narendra Modi, Shah, India ”, ”, Fahad, Steven Butler, Modi Organizations: Hong Kong CNN, Kashmir’s, abetted, Jammu &, Court, CNN, Protect Journalists ’, Guardian, Human Rights Locations: Hong Kong, Kashmir Walla, Kashmir, New Delhi, India, Pakistan, Islamabad, Jammu, Jammu & Kashmir, Ladakh, Fahad Shah, Protect Journalists ’ Asia, Delhi, Laos, Philippines

Citi announced plans to cut management layers from 13 to eight as part of its biggest overhaul in decades. Citigroup declined to comment on all the personnel moves, and none of the leaders named responded to requests for comment. The full reorganization could involve thousands of layoffs, according to a source familiar with the situation who was not authorized to speak publicly. Preparations for Monday's announcements were communicated verbally in meetings last week, according to another source familiar with the situation. Final announcements related to the overhaul will be made early next year, Fraser said in a memo to employees.

Persons: Jane Fraser, Eduardo Martinez Campos, Andy Sieg, Andrew Kelly, Valentin Valderrabano, Patricia Dorosz, Nacho Gutiérrez, Carmen Haddad, Fahad Aldeweesh, Haddad, Jose Miguel Salvador Nasur, Peter Babej, Ernesto Torres Cantú, Brad Wayman, Chris McCullough, Wayman, Patrick Gallagher, Lucy Baldwin, Sandeep Arora, Fraser, Mark Mason, Tatiana Bautzer, Lananh Nguyen, Andres Gonzalez, Saeed Azhar, Bayliss, Echo Wang, Isla Binnie, Nick Zieminski, Stephen Coates, Marguerita Choy Organizations: Citigroup, Citi, Citi Wealth Services, Citibank, New York Stock Exchange, REUTERS, Svea Herbst, Thomson Locations: Manhattan , New York City, U.S, Europe, Saudi Arabia, Chile, New York, London, Svea

☆ Elite investor John Paulson claims in a new lawsuit that his ex-business partner duped him out of millions to fund Louis Vuitton shopping sprees and Las Vegas parties
▼ + stars: | 2023-10-17 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

John Paulson is suing his former Puerto Rico business partner. Ghaffar used the scheme to fund his shopping at Chanel and partying in Las Vegas, Paulson alleges. AdvertisementAdvertisementJohn Paulson is suing his former business partner in Puerto Rico, alleging that he and several family members duped the investor out of millions of dollars to fund luxury shopping sprees, Las Vegas parties, and other expenditures. Ghaffar sued Paulson earlier this month, claiming he'd been cheated out of a 50% stake in a luxury car dealership. Ghaffar joined the firm as a junior analyst and eventually rose to become a senior manager in Puerto Rico.

Persons: John Paulson, Fahad Ghaffar, Ghaffar, Paulson, —, Fahad, Paulson's, Saint Barthélemy, he'd, didn't Organizations: Chanel, Service, Paulson, Louis Locations: Puerto Rico, Las Vegas, San Juan, Louis Vuitton, Saint, New York City

☆ Sheikh Ahmad, brother file cases against IOC at CAS over election
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +2 min

Sheikh Ahmad Al-Fahad Al-Ahmed Al-Sabah leaves a courthouse after the verdict for a trial for forgery in connection with arbitration, in Geneva, Switzerland, September 10, 2021. Sheikh Ahmad was banned from the IOC for three years in July after it found he had an "undeniable impact" on Olympic Council of Asia (OCA) elections in which his brother, Sheikh Talal Fahad Al-Ahmad Al-Sabah, was appointed president. CAS confirmed both Sheikh Ahmad and Sheikh Talal had filed separate cases against the IOC at the Switzerland-based court. Sheikh Ahmad, a former OCA president, travelled to Bangkok ahead of the OCA election in July and was in the city when it took place, which was "interpreted as interference in the election process" by the IOC's ethics commission. Sheikh Ahmad denied all the charges in the case and appealed the conviction.

Persons: Sheikh Ahmad Al, Fahad Al, Ahmed Al, Denis Balibouse, Fahad, Sheikh Ahmad, Sheikh Talal Fahad Al, Ahmad Al, Sheikh Talal's, Sheikh Talal, India's Randhir Singh, Singh, Sheikh Ahmad's, Ian Ransom, Peter Rutherford Organizations: REUTERS, Rights, International Olympic Committee, Sport, Olympic Council of Asia, IOC, OCA, Asian Games, Thomson Locations: Sabah, Geneva, Switzerland, Rights HANGZHOU, China, Fahad Al, Bangkok, India's, Swiss, Hangzhou

KARACHI, Pakistan, Sept 28 (Reuters) - Pakistan's rupee has gained 6.1% against the dollar so far in September, following an official clampdown on illegal foreign exchange trade in grey and black markets by security agencies. September's gains have almost made up for all of the rupee's losses in August and technically make it the best-perfoming currency in the world this month. The Pakistani rupee closed 0.3% up in the interbank market at 287.8 per dollar on Thursday. The crackdown on black market operators against the informal market resulted in tens of millions of dollars pouring back into Pakistan's interbank and open markets, dealers said. "The rupee has indeed performed well but this data does not reflect the sharp depreciation preceding this performance.

Persons: Fahad Rauf, Ismail Iqbal, Rauf, Ariba Shahid, Jane Merriman, Sharon Singleton, Hugh Lawson Organizations: Finance Ministry, Research, Ismail, Ismail Iqbal Securities, International Monetary Fund, Thomson Locations: KARACHI, Pakistan, Karachi

Tens of millions of dollars have poured back into Pakistan's interbank and openmarkets, dealers say, since raids on black market operators began on Sept. 6. Ninety percent were going to black market dealers, cutting our supply of foreign exchange," Bostan explained. While a crackdown on the black market was needed to stabilise the rupee, it "is a temporary fix," said Fahad Rauf, Head of Research at Ismail Iqbal Securities. High inflation and chronic external deficits lie at the heart of the currency's problem, and closing off people's access to black market dollars risks storing up pent-up demand. "There is an unprecedented demand for the dollar," Hanifullah Mohmand, a trader in the Peshawar market, said.

Persons: Akhtar Soomro, Asim Munir, Malik Bostan, Bostan, General Munir, Haji Luqman Khan, Sheikh Allauddin, ECAP, Fahad Rauf, Ismail Iqbal, Ariba Shahid, Mushtaq Ali, Gibran Peshimam, Simon Cameron, Moore Organizations: REUTERS, Pakistan, Exchange Companies Association of Pakistan, Reuters, Federal Investigation Agency, FIA, Inter, Services Intelligence, ISI, Locals, International Monetary Fund, IMF, Research, Ismail, Ismail Iqbal Securities, Thomson Locations: Karachi, Pakistan, KARACHI, PESHAWAR, Peshawar, Islamabad, Lahore, Quetta, Afghanistan

☆ Customer data, transactions, financials: Still reeling from the market implosion, VCs are demanding to see numbers to back up founder pitches
▼ + stars: | 2023-09-12 | by ( Darius Rafieyan | Melia Russell | ) www.businessinsider.com time to read: +7 min

Founders say VCs are increasingly demanding detailed data and visibility into their startups before considering a deal. But some in the industry say that for early stage startups, a reliance on data can create an illusion of certainty. Half a dozen early stage startup founders tell Insider that gone are the days when a good idea and flashy pitch deck were enough to close a deal. He described it as looking for "the golden playbook for investing in early stage startups." For his part Hasan says that when speaking to potential investors, he views an obsession with financials and data as a red flag.

Persons: Miguel Guerrero, Guerrero, He's, Fahad Hassan, Hasan, Keyvan Firouzi, Firouzi, Jason Calacanis, it's, Dorothee Grant, Avante Price, James Cham, Cham, Hassan Organizations: IRL, Activant, Stanford, Carta, Investors, Bloomberg Beta Locations: New York

☆ Why Saudi Arabia is spending hundreds of millions on soccer stars like Cristiano Ronaldo and Neymar
▼ + stars: | 2023-09-08 | by ( Anuz Thapa | ) www.cnbc.com time to read: +3 min

Soccer in Saudi Arabia has entered a new era — the era of having global superstars play on Saudi turf. "This is what we're doing by bringing household names like that to the Saudi league. Saudi Arabia's sovereign wealth fund, the Public Investment Fund, is the financial vehicle driving these high-priced transactions. "Saudi Pro League is the top men's professional soccer league in Saudi Arabia." Watch the video above to find out why Saudi Arabia is doubling down its investment in professional soccer and more.

Persons: Neymar, Ballon, Cristiano Ronaldo, Fahad Nazer, Prince Mohammed bin Salman, Stefan Szymanski, Simon Chadwick Organizations: Soccer, Pro League, Saudi, CNBC, Public Investment Fund, Saudi Pro League, University of Michigan, Newcastle United, Critics, Skema Business Locations: Saudi Arabia, Saudi, Saudi Embassy, U.S, Ittihad, Al, Hilal, Ahli

☆ StanChart to sell jet leasing arm to Saudi wealth fund unit for $3.6 bln
▼ + stars: | 2023-08-28 | by ( Rishav Chatterjee | ) www.reuters.com time to read: +2 min

The Standard Chartered bank logo is seen at their headquarters in London, Britain, July 26, 2022. Riyadh-headquartered AviLease, also known as Aircraft Leasing Co, is a jet lessor owned by Saudi Arabia's sovereign wealth fund. StanChart said in January it was exploring options for its global aviation finance business. Dublin-based Standard Chartered Aviation Finance owns and manages more than 120 aircraft and offers services including jet fuel hedging, debt financing and remarketing of unneeded planes. PIF is setting up startup carrier Riyadh Air to predominantly serve the kingdom’s capital, which has ambitions to become a global business hub.

Persons: Peter Nicholls, StanChart, Simon Cooper, Airfinance, Fahad Al, Saif, AviLease, Rishav Chatterjee, Shounak Dasgupta, Mark Potter Organizations: Chartered, REUTERS, Aircraft Leasing Co, Chartered Aviation Finance, Aviation Finance, Corporate, Institutional Banking, Standard Chartered, Saudi Public Investment Fund, Riyadh Air, Thomson Locations: London, Britain, Saudi Arabia, Riyadh, Saudi, Dublin, Europe, Bengaluru

☆ Bus crash in eastern Pakistan kills 18 people
▼ + stars: | 2023-08-20 | by ( Mubasher Bukhari | ) www.reuters.com time to read: +1 min

LAHORE, Aug 20 (Reuters) - At least 18 people were killed after a bus crashed and caught on fire in Pakistan's eastern Punjab province on Sunday, authorities said. The bus collided with another vehicle in the early hours of the morning while carrying 33 passengers from the southern port city of Karachi to the capital, Islamabad. "The unfortunate bus ... collided with a mini-truck loaded with three small tanks of petrol at around 4.30 am," said Fahad Ahmad, the police chief of Punjab's Hafizabad district. "The bus and the truck caught fire immediately, the result of which 18 people including the mini-truck driver died on the spot." More than 40 people were killed in January after a bus fell into a ravine and caught fire in the southern Pakistani province of Balochistan on Sunday.

Persons: Fahad Ahmad, Mubasher Bukhari, Charlotte Greenfield, Kim Coghill Organizations: Thomson Locations: LAHORE, Pakistan's, Punjab, Karachi, Islamabad, Punjab's Hafizabad, Pakistan, Pakistani, Balochistan

☆ IOC asks Singh to continue as acting head of Olympic Council of Asia
▼ + stars: | 2023-07-30 | by ( Amlan Chakraborty | ) www.reuters.com time to read: +2 min

NEW DELHI, July 30 (Reuters) - The International Olympic Committee has asked India's Randhir Singh to continue as acting head of the Olympic Council of Asia, according to a letter seen by Reuters, after the IOC refused to recognise the Asian governing body's elections. Sheikh Ahmad has denied any wrongdoing. Sheikh Talal was appointed OCA president by a margin of 24 votes to 20 over his fellow Kuwaiti, Husain Al-Musallam. The trial considered whether Sheikh Ahmad had used a bogus Kuwaiti coup plot to gain advantage over political rivals. Sheikh Ahmad denied all the charges in the case and appealed the conviction.

Persons: India's Randhir Singh, Kuwait's Sheikh Ahmad Al, Fahad, Sheikh Talal Fahad Al, Ahmad Al, Sheikh Ahmad, Sheikh Talal, Husain Al, Singh, Sheikh Talal Al, Sheikh Ahmad's, Amlan Chakraborty, Tommy Lund, Ken Ferris Organizations: Olympic, Olympic Council of Asia, Reuters, IOC, OCA, Asian Games, Thomson Locations: DELHI, Fahad Al, Sabah, Bangkok, Singh, Swiss, OPEC, Geneva, Switzerland, Hangzhou, China, New Delhi

☆ As Iraq Tries to Chill Critics, Its Newest Target Is Social Media
▼ + stars: | 2023-07-16 | by ( Alissa J. Rubin | More About Alissa J. Rubin | ) www.nytimes.com time to read: +2 min

Often it is unclear exactly which acts violate public order and morality, according to the U.S. State Department’s most recent report on human rights, as well as a report by Human Rights Watch and other free speech and human rights organizations. Um Fahad, the social media influencer who was dancing on her son’s birthday, said she still did not understand why she was arrested and imprisoned. In 2021, the federal court stripped commissioners of their immunity, making them vulnerable to financially crippling lawsuits from any politician, government ministry or party. That curbed the commission’s efforts to hold to account Iraqi government officials or institutions for human rights violations under Iraqi and international law. Officials note accurately that when government critics are pursued in court, in the majority of cases they eventually prevail.

Persons: Um Fahad, “, ”, Ali al, neutered, Saddam Hussein Organizations: U.S, U.S . State, Human Rights Watch, Iraqi Human Rights Commission Locations: U.S ., Iraq

☆ Pakistan central bank raises main interest rate by 100 bps to 22%
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +2 min

Karachi, PAKISTAN, June 26 (Reuters) - Pakistan's central bank raised its benchmark interest rate by 100 basis points to 22% at an emergency meeting on Monday, a day after the country revised its budget for the fiscal year from July 1 in a bid to rescue an IMF programme that expires in days. The central bank has now raised its main rate by 12.25 percentage points since April 2022, mainly to curb soaring inflation. "The MPC views this action as necessary to keep real interest rate firmly in positive territory on a forward-looking basis," the central bank said in a statement. On June 12 the central bank had left its key rate unchanged. The KSE100 index on the Pakistan Stock Exchange closed up 3.42% on expectations of a deal begin reached with the IMF.

Persons: Fahad Rauf, Ismail Iqbal, Shivam Patel, Sanjeev Miglani, Hugh Lawson Organizations: IMF, Analysts, International Monetary Fund, MPC, Ismail, Ismail Iqbal Securities, Pakistan Stock Exchange, Thomson Locations: Karachi, PAKISTAN, New Delhi, Shahid

☆ Kuwait forms cabinet with new oil minister, finance minister re-appointed
▼ + stars: | 2023-06-18 | by ( ) www.reuters.com time to read: +1 min

DUBAI, June 18 (Reuters) - Kuwait formed a new government on Sunday naming Saad Al Barrak as oil minister to replace Bader Al-Mulla and reappointing Finance Minister Manaf Abdulaziz Al Hajri. Sheikh Ahmad Nawaf Al-Ahmad Al-Sabah, who was re-appointed as prime minister last week, formed the new cabinet announced in a decree carried by the state news agency KUNA. The Gulf Arab state also named a new defence minister, Sheikh Ahmad Al-Fahad Al-Ahmed Al-Sabah. The outgoing government had resigned following parliamentary elections held earlier this month in the Gulf OPEC oil producer. Reporting By Andrew Mills and Ahmed Tolba; Writing by Andrew Mills; Editing by Andrew Heavens and David EvansOur Standards: The Thomson Reuters Trust Principles.

Persons: Saad Al Barrak, Bader Al, Mulla, Manaf Abdulaziz Al Hajri, Sheikh Ahmad Nawaf Al, Ahmad Al, Sheikh Ahmad Al, Fahad Al, Ahmed Al, Andrew Mills, Ahmed Tolba, Andrew Heavens, David Evans Organizations: reappointing Finance, Thomson Locations: DUBAI, Kuwait, Sabah, Gulf OPEC

☆ Ahead of Modi visit, journalists' group urges US to press India on media crackdown
▼ + stars: | 2023-06-14 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, June 14 (Reuters) - The Committee to Protect Journalists on Wednesday called on the U.S. government to urge India to end a media crackdown and release six detained journalists. A statement from CPJ President Jodie Ginsberg ahead of a state visit to Washington next week by Indian Prime Minister Narendra Modi said there had been an increasing crackdown on India’s media since he came to power in 2014. "Journalists critical of the government and the BJP party have been jailed, harassed, and surveilled in retaliation for their work," Ginsberg said. It highlighted harassment of domestic and foreign media, including through raids and retaliatory income tax investigations launched into critical news outlets. The CPJ also cited a media crackdown in Kashmir, including the use of preventative detention, terrorism and criminal cases, travel bans and raids.

Persons: Jodie Ginsberg, Narendra Modi, Ginsberg, – Aasif Sultan, Gautam Navlakha, Sajad Gul, Fahad Shah, Rupesh Kumar Singh, Irfan Mehraj –, Modi, CPJ, David Brunnstrom, Alistair Bell Organizations: Protect Journalists, Indian, BJP, U.S . State Department, Thomson Locations: India, Washington, United States, Delhi, Mumbai, Indian, Jammu, Kashmir

☆ Shares of Manchester United briefly pop 16% after Qatar media hints at takeover bid ‘success'
▼ + stars: | 2023-06-13 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

A statue of George Best, Denis Law and Bobby Charlton standing outside Old Trafford, home of Manchester United in Manchester, England. Shares of Manchester United rose as much as 16% in premarket trading on Tuesday after Qatari media suggested Sheikh Jassim bin Hamad al-Thani was likely to succeed with his takeover bid. Al-Watan is co-owned by Hamad bin Jassim bin Jaber al-Thani. Shares of Manchester United, which exclusively trade on the New York Stock Exchange, were around 4% higher at 3:15 a.m. "All the news received indicates the success of Sheikh Jassim bin Hamad bin Jassim's acquisition of Manchester United, and the announcement of the deal will be very soon," he said.

Persons: George Best, Denis Law, Bobby Charlton, Sheikh Jassim bin Hamad, Thani, Qatar's, Sheikh Jassim, Hamad bin Jassim bin Jaber, Jim Ratcliffe, Fahad, Glazer, Ratcliffe Organizations: Manchester United, Watan, Premier League soccer, New York Stock Exchange, Twitter, Al, Al Watan Locations: Old Trafford, Manchester, England, Qatar's Al, Thani

Experts have mixed reactions on whether the budget will meet IMF requirements and the impact on the economy. The ‘No new Taxes on Industry’ claim is belied by increase in super tax and that too in not a fully progressive way. Will retailers and the agri sectors that together contribute 40% contribute more than 2% as a result of the budget? SHAHBAZ ASHRAF, CHIEF INVESTMENT OFFICER AT FRIM VENTURES“It is surely not a budget that the IMF would approve of. "The regional energy price budget, which has built in cross subsidies, general collection and distribution losses is something the export industry cannot sustain."

Persons: GHIAS KHAN, EHSAN MALIK, SHAHID HABIB, ARIF HABIB, ZULQARNAIN, ABDUL ALEEM, IRFAN IQBAL SHEIKH, MUSTAFA PASHA, SHAHBAZ ASHRAF, they've, There's, ” FAHAD RAUF, ISMAIL IQBAL, GOHAR EJAZ, Ariba Shahid, Jonathan Oatis, Nick Zieminski Organizations: International Monetary Fund, IMF, Pakistan, Reuters, FX, ENGRO CORP, OF, PAKISTAN BUSINESS, Industry, PAKISTAN, Company, FEDERATION OF PAKISTAN, OF COMMERCE, PKR, IN, MILLS ASSOCIATION, Thomson Locations: KARACHI, Pakistan, PAKISTAN, Karachi

☆ Exclusive: Google's VC firm just led a $12 million Series A investment in Range, a startup that's training AI to give financial advice
▼ + stars: | 2023-05-03 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +7 min

The company is training an AI model to give financial advice and hopes to make human advisors obsolete within a decade. Enter Range, a startup that's looking to use artificial intelligence and machine learning to make human financial planners obsolete. The company is building out a suite of financial planning tools aimed at aging millennials and designed to help streamline investing, saving, and estate planning. 'We're looking to replace you'These recommendations are reviewed and "massaged" by human advisors before being passed on to clients. She said she's excited about the prospect of making her own job obsolete if it means more people having access to financial planning.

☆ Saudi Arabia wants to be a bigger player in the Middle East — this time with diplomacy
▼ + stars: | 2023-05-03 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +7 min

“And that can only reflect well on the Kingdom.”This new diplomacy comes as Saudi Arabia prioritizes economic growth at home, which requires regional stability to succeed. Saudi efforts at revamping its image as a peace-broker may face credibility challenges, however, given its near decade-long combative foreign policy and the bad press it attracted. That group is party to the Sudan conflict that Saudi Arabia is trying to help end. Despite its controversial past, Saudi Arabia may still carry enough influence to bring quarreling parties to the negotiating table, analysts say. “Saudi (Arabia) does not pretend to be an impartial mediator but its voice carries weight with many parties in the region,” Shihabi said, adding that where it can, Saudi Arabia wants to use that influence to reduce tensions.

☆ Credit Suisse wins $41 mln London lawsuit against Saudi Prince
▼ + stars: | 2023-04-05 | by ( Sam Tobin | ) www.reuters.com time to read: +2 min

Prince Fahad bin Sultan bin Abdulaziz al Saud is liable to pay his company Burgundy Sea Ltd’s debts to Credit Suisse, Judge Robert Bright said in a written ruling. Credit Suisse and the Saudi government’s communication office did not immediately respond to a request for comment. Prince Fahad and Burgundy, a special purpose vehicle ultimately owned by the prince, were sued by Credit Suisse in 2021 over a 48 million-euro ($52.5 million) loan for the refinancing of luxury motor yacht, the Sarafsa. In September 2021, Credit Suisse demanded Burgundy pay all its total debts for alleged breaches of the loan agreement and then called on Prince Fahad to settle the debts, under a personal guarantee of Burgundy’s obligations. However, the judge said that Prince Fahad and Burgundy “have no real prospect of successfully defending (Credit Suisse’s) claims”.

☆ Here's what's driving the gains for gold as it approaches its highest levels on record
▼ + stars: | 2023-04-05 | by ( Jeff Cox | ) www.cnbc.com time to read: +3 min

It's taken gold prices a long time to get this high — 5,000 years, give or take a few centuries — and it looks like the yellow metal could keep climbing. "Gold prices have benefited in recent weeks from safe haven demand amid concerns on the banking sector, as well as a view that the likelihood of a recession (i.e., hard landing) have materially increased. "Lower rates, coupled with inflation still well above the 2% target, would be positive for gold prices," he added. @GC.1 YTD line Gold price this year Tariq expects gold to average $1,925 an ounce in the second quarter, a 10% increase from Credit Suisse's previous target. Roque has a price target at $2,322, implying 14% upside from here.

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