Author: newsdesk

  • April was Bitcoin’s worst month since late 2022 as investors took profits

    April was Bitcoin’s worst month since late 2022 as investors took profits

    Bitcoin experienced a significant downturn for the third day in a row on Wednesday, capping off its worst monthly performance in April since late 2022.

    This downward trend comes as investors shifted their focus away from cryptocurrencies in anticipation of the Federal Reserve’s upcoming interest rate decision.

    The world’s most traded cryptocurrency fell nearly 16 per cent throughout April as investors cashed in their gains from a recent rally.

    Bitcoin had reached record highs, topping $70,000, but the recent slide has taken the price to $57,055, a 4.7 per cent drop and its lowest point since late February.

    Ether, the second-largest cryptocurrency by market cap, also saw a decline, falling 3.6 per cent to $2,857, its weakest level since February.

    The sharp downturn has pushed bitcoin into bear market territory, with its current price sitting 22 per cent below its March peak of $73,803.

    Despite this, Bitcoin has still achieved a 35 per cent increase so far in 2024 and has doubled its value compared to the same time last year.

    This surge in value was largely driven by significant investments in newly launched exchange-traded funds (ETFs) at the beginning of the year.

    According to Matteo Greco, a research analyst at Fineqia, the recent decline in bitcoin’s price is due to profit-taking by investors who entered the market during the downturns of 2022 and 2023.

    Additionally, ETF investors, who saw their shares appreciate significantly in early 2024, also contributed to the sell-off as they locked in profits.

    Looking at the broader economic landscape, the Federal Reserve is not expected to change interest rates later this week.

    However, a growing consensus among investors suggests that the central bank may refrain from cutting rates altogether in 2024.

    This uncertainty has cast a shadow over interest rate-sensitive assets, including cryptocurrencies, emerging market stocks, bonds, and even commodities. Investors are adjusting their portfolios accordingly.

    The 10 largest U.S. spot bitcoin ETFs have seen their biggest weekly outflow since their inception earlier this year, highlighting the impact of shifting investor sentiment on the cryptocurrency market.

    As the market reacts to both macroeconomic factors and investor behavior, the coming days will be crucial in determining whether this downtrend continues or stabilizes.

  • Avicenna College case: PMDC to initiate probe into girl’s death

    The Avicenna Medical College continues to spiral deeper into controversy with Pakistan Medical and Dental Council (PMDC) taking notice of the death of a female student, and launching a probe into the matter, reports Dawn.

    On the other hand, University of Health Sciences (UHS) has taken up the serious complaints of students about imposition of heavy fines, harassment, torture and physical punishments. It has directed all the affiliated public and private sector medical colleges of Punjab to establish ‘Students Counselling Cells (SCCs)’, to be constituted of senior faculty members, including teachers from the psychiatry departments, besides the students themselves to address the issues of harassment of any kind and other such complaints. It declared the setting up of cells mandatory to prevent incidents like the one that recently surfaced at the Avicenna Medical College in Lahore.

    The decision was made in a meeting chaired by UHS Vice Chancellor Prof Dr Ahsan Waheed Rathore, exclusively called after the mysterious death of a girl student, Mahnoor Nadeem, of the Avicenna Medical College, followed by a protest by its students.

    The students had alleged that the girl had died due to mental stress she had to suffer in the ‘toxic environment’ created by the college management. They condemned the college’s owner and the faculty for imposing heavy fines, ranging from Rs50,000 to Rs100,000, and strict punishments and humiliation.

    “It is our duty to ensure the holistic well-being of our students, particularly in light of the demanding nature of professional education in the medical and dental fields,” reads a letter issued by the Vice Chancellor to all the 12 public and 44 private medical institutes of Punjab. The letter was addressed to the principals of the medical colleges.

    “I am writing to emphasize the importance of paying special attention to the psychological well-being of our students. The rigors of professional education can often take a toll on their mental health, and it is imperative that we provide them with the necessary support and guidance to navigate through these challenges successfully,” reads the letter.

    The UHS VC urged the principals to consider establishing a dedicated students counselling cell at their institutions.


    Answer within 72 hours

    Additionally, the Avicenna Medical College has been directed to give its point of view within 72 hours so that responsibility could be ascertained.
    “The PMDC, as the apex regulatory body for medical and dental education in Pakistan, is deeply saddened by the loss of a promising medical student and extends its heartfelt condolences to the family and loved ones affected by this unfortunate incident.

    “In line with its commitment to upholding the highest standards of professionalism, ethics, and patient care, the PMDC has initiated a thorough investigation to ascertain the facts surrounding the incident,” the statement issued by the council stated.

    PMDC President Prof Dr Rizwan Taj stated, “We are deeply concerned about the circumstances leading to the untimely demise of a medical student and are committed to ensuring that justice is served. The welfare and well-being of students are of paramount importance to us, and any form of misconduct or mistreatment will not be tolerated.”

    He also added that Mahnoor’s family will be welcomed to reach the council to file the complaint.

    The PMDC will also collaborate with relevant authorities and stakeholders to implement measures aimed at preventing similar incidents in the future.

  • India’s ‘Don’t guess the age’ is the trend we want to see in Pakistan

    India’s ‘Don’t guess the age’ is the trend we want to see in Pakistan

    ‘Don’t guess the age’ is a new trend seen on Indian Twitter, and it has caught our eye. We sure want to see it in Pakistan.

    We despise the very common age-shaming in our desi culture, it is high time that we start embracing that age is just a number. It’s not creases on the face but the coolness of the spirit that matters the most.

    It all started with activist Viji Venkatesh posting an uber-cool and stylish picture of hers on X that prompted people to appreciate their own age and the coolness that comes with it.

    She captioned it, “Don’t guess the age, I’m 72 and killing it. #nofilterneeded”

    Her friends and other X users started posting pictures of themselves. Author Rana Safvi posted a picture with the caption, “Don’t guess the age, I’m 67 and trying to emulate dear Viji as far as the coolness quotient is concerned.” She also stressed it by adding #nofilterneeded

    Filmmaker and human rights activist Onir posted a picture of him smiling at an event and reiterated the point of no filter needed with the caption, “Don’t guess the age, I am 55.”

    The thread kept on expanding as an academician Latika posted a picture of hers playing basketball with the caption, “Don’t guess the age, I am 53 and some more.”

    Climate activist Natasha Ramaratham embraced the #nofilterneeded trend by posting a picture of her carrying a poster and telling the world that she is 52.

    AI product designer Subbakrishna Rao joined the trend, posted a picture of him receiving an award and smiling ear-to-ear. His caption was “53 and rocking it”.

    Sandeep Roy posted a picture of him holding the camera and quipped in the caption, “Don’t guess the age, but 56 in a few months. Mom would have sworn it was “Bao ki teo” (old bong joke)”.

    Humans grow, evolve, change and this should be considered an absolutely normal thing. While physicality isn’t in anyone’s control the spirit is very instinctual. We hope to see people embracing this in our own society.

  • Asim Azhar’s debut album features colabs with big names

    Asim Azhar’s debut album features colabs with big names

    Asim Azhar is getting ready to start a new part of his music career with his first album, ‘Bematlab’, releasing on May. The album will include seven songs, with five being collaborations with other artists.

    Asim Azhar cleared his Instagram feed last week, suggesting big changes in his career. He posted a mysterious message hinting at something new, leaving fans eager for more details. Then, as the countdown started, the 27-year-old revealed the songs on the album, teasing exciting collaborations with both big names in the industry and up-and-coming stars.

    View this post on Instagram

    A post shared by Asim Azhar (@asimazhar)

    Familiar names like Talha Anjum and Talhah Yunus, who worked on tracks like ‘Bematlab’and ‘Karma,’ are featured in there. But what really gets fans excited is the promise of new partnerships, especially the collaboration with Hasan Raheem on the song ‘You,’ while Nehaal Naseem will add energy to the album with ‘Mujhsa Na,’ and Umair will appear on ‘Kyun.’

    After being in the music business for 11 years, Asim caused a stir online when he deleted all his Instagram posts on Tuesday, similar to what Taylor Swift did once. Shortly after, he came back with an exciting teaser for his first album.
    The teaser gives a sneak peek into Asim’s life as a musician, from his childhood to his youth, making it clear that fans can expect a personal seven-track album. In the caption, he announced the release date, saying, “A new journey, a new beginning, Bematlab, my debut album.”

    View this post on Instagram

    A post shared by Asim Azhar (@asimazhar)

    Fans and colleagues from the entertainment industry rushed to the post to show their support and best wishes. Asim’s fiancée, Meerub Ali, also joined in, hyping him up with comments like “the most dramatic entry ever” “ap cha gaye hou” (you are everywhere)
    The story of ‘Bematlab’ goes back to Asim’s early days when he gained attention by singing heartfelt covers of Western songs on YouTube. But it was his standout performance in Coke Studio 9 that really put him in the spotlight, showing off his talent and making him a star. Since then, Asim has been delivering hit singles and captivating audiences with his versatile voice and emotional performances in popular dramas.

    View this post on Instagram

    A post shared by Asim Azhar (@asimazhar)

    As the release date gets closer, the excitement around ‘Bematlab’ grows, fueled by Asim’s mysterious teasers and the anticipation of fans around the world. May 1 isn’t just the debut of an album; it’s a big moment in Asim’s impressive career.

  • US reassures Pakistan of its support to end terrorism

    US reassures Pakistan of its support to end terrorism

    The United States (US) has reassured Pakistan once again of its support to end terrorism in the country for the safety of citizens and protection of human rights, Geo reported on Wednesday.

    “We support Pakistan’s efforts to combat terrorism and ensure the safety and security of its citizens in a manner that promotes the rule of law and the protection of human rights,” US State Department Principal Deputy Spokesperson Vedant Patel said in a press briefing.

  • Mobile SIMs of over 500,000 tax evaders to be blocked under FBR directive

    Mobile SIMs of over 500,000 tax evaders to be blocked under FBR directive

    The Federal Board of Revenue (FBR) has identified 506,671 individuals who have not filed their income tax returns for the 2023 tax year and issued an order to block their mobile phone SIM cards.

    This directive, known as Income Tax General Order No. 01 of 2024, was released on Tuesday, mandating the Pakistan Telecommunication Authority (PTA) and all telecom operators to comply immediately.

    According to the FBR, these non-filers are required to file their income tax returns under the Income Tax Ordinance of 2001. The list of those affected is available on the FBR’s website. Those listed can check to confirm whether their mobile phone service will be disrupted.

    Under Section 114B of the Income Tax Ordinance, the FBR has the authority to take such measures to enforce compliance with tax regulations.

    The PTA and telecom operators must block the SIM cards of the individuals named in the order, and the SIM cards will remain deactivated until the FBR or the respective Commissioner of Inland Revenue restores them.

    The FBR has set a deadline of May 15, 2024, for telecom operators to report their compliance with the order. Failure to meet this deadline could result in further regulatory action.

    The FBR is taking this step to ensure that all those required to file income tax returns do so promptly, contributing to the country’s revenue base.

  • Miftah Ismail cries while remembering treatment meted out to his family by PTI govt

    Miftah Ismail cries while remembering treatment meted out to his family by PTI govt

    Miftah Ismail, former finance minister of Pakistan, got emotional during a talk show on Dawn News when journalist Wasatullah Khan asked him about his feelings after the recent “clean chit” he got from the court in the LNG case.

    Miftah remarked, “Today should have been a happy day but it was a bitter day for me because of memories.”

    Miftah broke down then, getting teary-eyed while saying, “They raided my home and breached my wife’s privacy by opening her closets.”

    “I remember this and I will take Imran Khan to the court,” said Miftah.

    He stated that an inquiry had already been conducted in Sindh in which he was exonerated and even though all the departments were based in Sindh but they opened a new inquiry on Sheikh Rashid’s request in Islamabad.

    He further said, “I will take Irfan Mangi to court who was the DG NAB in Islamabad, Javed Iqbal (DG NAB) and Imran Khan to court.”

  • Four onscreen couples driving Pakistani drama fans crazy

    Four onscreen couples driving Pakistani drama fans crazy

    The classic story where a boy meets a girl but faces challenges along the way has been popular for ages, even back in Shakespeare’s time. Pakistani TV shows often use this storyline, and it’s a favorite among directors and producers, because it works really well. And when good-looking actors are part of the mix, fans seem to overlook any flaws in the show and just enjoy the romance.
    In Pakistan’s entertainment industry, there are lots of romantic couples on screen. And there are also many actors who are not only talented but also really good-looking. Pakistani drama fans everywhere are thrilled to see four pairs of actors who have amazing chemistry when they act together.

    Yumna Zaidi and Humayun Saeed in Gentleman

    The handsome Humayun Saeed shone in Netflix’s ‘The Crown’ as Dr. Hasnat Khan, and now he’s back on local TV screens after three years in ‘Gentleman,’ playing Iqbal. This time, he’s working with the very talented Yumna Zaidi, known for her role in ‘Tere Bin.’ Both actors are known for giving their all to their roles. Their teamwork is expected to be exciting, and fans are eagerly looking forward to it.

    Bilal Abbas and Durefishan Saleem in Ishq Murshid

    The final episode of ‘Ishq Murshid’ is about to hit theaters, and fans on social media are deeply invested. They’ve spent hours debating whether Bilal Abbas’s character, Shahmeer/Fazl, should be forgiven for lying to win over Durefishan’s Shibra. Despite some serious concerns about his character, Bilal’s amazing acting skills have won over even the toughest critics. And with Durefishan’s strong yet understated performance as Shibra, the two actors have carried the beloved drama from beginning to end.

    Sheheryar Munawar and Hiba Bukhari in Radd

    Sheheryar and Hiba are teaming up for the first time in the show ‘Radd.’ With only six episodes out, it’s already becoming a hit with viewers. Hiba plays Emaan, a woman who’s independent and not afraid to speak her mind, a character many admire. Sheheryar portrays Salaar, an artist who works in a simple shop and paints in his free time, a departure from typical TV heroes. Sheheryar’s subtle acting brings Salaar to life in a refreshing way. Though Emaan and Salaar face familiar domestic problems, the talented duo breathe new life into the classic story, keeping fans hooked with each episode.

    Faysal Qureshi and Durefishan Saleem in Khaie

    In an exciting tale of revenge, Durefishan’s character Zamda once again captures the hearts of her fans. This time, she stars alongside Faysal as Channar, the villain, for the first time. The story is not for those easily scared. It follows tribal men seeking vengeance by killing their enemies’ male descendants. Durefishan plays Zamda with skill, hiding her revenge plans behind innocent eyes. Contrasted with Channar’s pure evil, their chemistry is a testament to how unexpected connections can form.

  • Six policemen injured in attack in Taunsa

    Six policemen injured in attack in Taunsa

    Six security officials got injured, with one of them in critical condition, after terrorists attacked a police checkpoint in Taunsa Sharif on Wednesday morning.

    The police confirmed that terrorists attacked Hazrat Umar Farooq, also known as Jhangi checkpost, in the Wahova area of Dera Ghazi Khan, near Khyber Pakhtunkhwa (KP).

    Following the attack, law enforcement agencies swiftly reached the spot and surrounded the area. They then initiated a search operation to apprehend the perpetrators. The injured officials were promptly transported to the Taunsa Sharif THQ Hospital for medical treatment.

    Chief minister of Punjab Maryam Nawaz condemned the attack and ordered top-notch medical treatment for wounded security officials.

    She also appreciated the efforts of police officials to tackle terrorism in the country.

  • Sanjay Leela Bhansali thought about including Pakistani actors in Heeramandi

    Sanjay Leela Bhansali thought about including Pakistani actors in Heeramandi

    The much-hyped Netflix series ‘Heeramandi’, directed by renowned Bollywood filmmaker Sanjay Leela Bhansali, is now streaming on Netflix. It marks Sanjay’s debut as a director on OTT platforms and features a stellar cast including Manisha Koirala, Sonakshi Sinha, Aditi Rao Hydari, Sanjeeda Sheikh, Richa Chadha, Fardeen Khan, Sharmin Segal and Shekhar Suman. The ‘Heeramandi’ team has been giving many interviews on social media and in the media as they promote the expensive project.

    Bhansali shared in an interview on YouTube that he once thought about casting top Pakistani actors for the series.
    “I thought about casting many actors over eighteen years. Initially, I considered Rekha Ji, Kareena, and Rani Mukherji. Later, I had Fawad Khan, Mahira Khan and Imran Abbas in my mind for ‘Heeramandi, but I ended up with this ensemble cast.”

    Heeramandi: The Diamond Bazaar is a visually stunning drama, easily identifiable as a Bhansali production. It tells the stories of courtesans, known as tawaifs, living in Lahore’s red-light district of ‘Heera Mandi’ during the Indian independence movement in the British Raj.