Author: News Desk

Pakistan: The International Monetary Fund (IMF) has warned that Pakistan’s economic challenges are “complex and multifaceted” and the risks are “exceptionally high.” In a recently published report, the IMF noted that Pakistan’s economy had been hit by “significant shocks” in 2022, including floods that caused damage of more than $30 billion, the war in Ukraine, and other “fiscal as well as external pressures.” “Addressing them requires steadfast implementation of agreed policies as well as continued financial support from external partners. Consistent and decisive implementation of programme agreements will be essential to reduce risks and maintain macroeconomic stability,” the report added.…

London, UK: The UK government has announced that India’s Tata Group will build an electric vehicle (EV) battery plant in Britain to supply its Jaguar Land Rover factories. Under the plan, the company will build its first gigafactory outside of India in Britain with an investment of $5.2 billion, creating up to 4,000 jobs and producing an initial output of 40-gigawatt hours (GWh). The British Prime Minister, Mr. Rishi Sunak’s government, has refused to say how much financial support it promised in order to secure the investment and fend off Spain, which had also lobbied to win the project. Britain…

United States: North Korea has not reacted to the unusual entry of a United States soldier into its territory. The soldier has crossed the heavily fortified border that separates South and North Korea, but North Korean authorities have yet to comment on the incident. North Korea has remained silent concerning the situation of US Private 2nd Class Mr. Travis King, who voluntarily defected to North Korea while visiting the border village of Panmunjom on 18th July 2023. No official information has been released by North Korean authorities regarding his fate. US Defence Secretary Mr. Lloyd Austin has confirmed that an…

Thailand: Thailand’s Constitutional Court has temporarily suspended prime ministerial candidate Mr. Pita Limjaroenrat as a lawmaker, delivering its announcement as parliament gathered to determine his chances of assuming the role of premier. According to the statement,”The court decision came after accepting a case that alleges Mr. Pita, leader of the election-winning Move Forward Party, was unqualified to run in a May 14 election because he held shares in a media company, in violation of electoral rules.” Members of parliament are prohibited under Thai law from owning stock in media companies. The 42-year-old Mr. Pita lost his initial bid for the…

United States: A thousand authors have endorsed a letter addressed to the CEOs of OpenAI, Meta, Microsoft, Alphabet, IBM, and Stability AI, urging them to stop using copyrighted work without permission. Ms. Margaret Atwood, Mr. Jonathan Franzen, Mr. James Patterson, Ms. Suzanne Collins, and Professor Viet Thanh Nguyen are among the prominent writers. The letter was organised by the Authors Guild, the largest professional writers’ organisation in the United States. The signatories call attention to the “inherent injustice of exploiting our works as part of your AI systems without our consent, credit, or compensation” in the letter. “These technologies mimic…

South Africa: Mr. Cyril Ramaphosa, the President of South Africa, has warned that any attempt to arrest Russian President Mr. Vladimir Putin when he visits the country next month would be a declaration of war with Russia. Mr. Ramaphosa remarked in court papers that “Russia has made it clear that arresting its sitting President would be a declaration of war.” Mr. Putin has been invited to a BRICS summit in Johannesburg in August. But the Russian President is also the target of an International Criminal Court arrest warrant. The leading opposition party, the Democratic Alliance (DA), is trying to force…

United Kingdom: A new study has stated that the new drug donanemab will become a turning point in the fight against Alzheimer’s. The study’s global trial has confirmed its remarkable ability to slow cognitive decline among patients. This antibody medication demonstrates efficacy in the early stages of Alzheimer’s, primarily by targeting and eliminating a protein that accumulates in the brains of affected individuals. Although it doesn’t offer a complete cure, the study’s findings, published in the journal JAMA, represent a major breakthrough, suggesting a new era where Alzheimer’s can be effectively treated. In the trials, it appears to have slowed…

Saudi Arabia: Turkish President Mr. Recep Tayyip Erdogan has successfully secured a deal with Saudi Arabia for the purchase of Turkish drones in an effort to strengthen Turkey’s economy. This agreement marks a significant milestone for Turkey as it strives to achieve stability amidst economic challenges. According to the Foreign Economic Relations Board of Turkey, President Mr. Erdogan arrived in Saudi Arabia on 17th July 2023, accompanied by an entourage of some 200 businesspeople as part of a three-stop tour of the region. Both countries signed several memoranda of understanding (MoUs) in many fields, including energy, direct investments, and defence…

China: Mr. John Kerry, the United States’s envoy on climate, has held talks with China’s top diplomat Mr. Wang Yi in Beijing, calling for cooperation to address global warming and to redefine the troubled diplomatic relations between the world’s two biggest greenhouse gas emitters. The US envoy told Mr. Wang that climate talks could provide a new start between the countries, which have been disturbed over issues including trade, technology, and the self-governed island of Taiwan. “Our hope is that this can be the beginning of a new definition of cooperation and capacity to resolve differences between us,” Mr. Kerry…

Australia: The Australian state of Victoria has cancelled hosting the 2026 Commonwealth Games due to major cost blowouts. State Premier Mr. Daniel Andrews has expressed concerns regarding the cost of hosting the Games. The Premier stated that the initial estimated budget of $1.36 billion would most likely exceed $5 billion, which he deemed excessively high. “I’ve made a lot of difficult calls and a lot of very difficult decisions in this job. This is not one of them. Frankly, $7 billion for a sporting event, we are not doing that,” Mr. Andrews said at a press conference in Melbourne. “I…