24/7 News – What is Happening Around US

Moderna has released the results of phase II and III clinical trials of its COVID-19 vaccine in adolescents, with the US-based company claiming the vaccine is 100% effective in the age group. According to details, Moderna’s vaccine offered 93% protection against COVID-19 in children aged 12 to 17 years after the initial dose and 100% protection after the booster dose. ALSO READ Redmi Note 10 5G Launched in Pakistan for Rs 34,000 No serious safety concerns were reported over the course of phase II and III clinical trials in which more than 3,700 adolescents participated. The most common adverse event…

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The sixth edition of the Pakistan Super League (PSL) is set to resume in the scorching heat of Abu Dhabi within the next couple of weeks. While UAE has hosted previous editions of the tournament, it has always been held during spring in the country. However, this time around, the remainder of the tournament is set to be played during peak summers, with the temperatures rising above 40 degrees Celsius on a regular basis. ALSO READ Lahore Qalandars Confirm Rashid Khan’s Availability for PSL 6 The team management of all six PSL franchises have been vocal about the extreme weather…

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Iraq has banned the entry of citizens from Pakistan and India through air and land until further notice, due to the surge in coronavirus cases. Iraq’s federal government had issued new travel guidelines on 24 May which detailed that travelers from Pakistan, India Bangladesh, Sri Lanka, Nepal, Brazil, Colombia, and Bahrain have been prohibited entry to the country. ALSO READ Several Flights Face Delays at Karachi Airport According to the new guidelines, the decision to ban citizens from these countries entering Iraqi territory had been made in consideration of the surge in the cases of the mutated coronavirus. In other…

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The USB Implementers Forum (USB-IF) recently announced that they are pumping up the power delivery specifications of USB-C from 100 watts to 200 watts. This means users will be able to replace the barrel jack and the proprietary power brick to charge with the multipurpose USB-C cable used to charge smaller devices like handsets, lightweight laptops, tablets, and other gadgets. The current 100W power rating of USB-C cables has held the industry back. There are many laptops that require 130W to 140W of power to charge and run at full bore simultaneously. Although manufacturers sell off-spec USB-C adapters, they are…

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Valve, the American video game developer, commonly known for titles such as CS:GO, Dota 2, and the Half-Life series may be working on a portable gaming pc. This will allow Steam users to play their game library on the go. ALSO READ DOTA 2 is Getting an Anime Series on Netflix Next Month The report comes from ArsTechnica citing multiple resources familiar with the matter. The report says that Valve has been working on an all-in-one gaming PC with gamepad controls. This device will reportedly include an Intel or AMD SoC and will likely boot Linux. One of its prototypes is said…

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The sales tax remained the top revenue-generating source of the federal tax receipts during the first six months (July-December) of 2020-21, as revealed by the FBR report on revenue analysis. The report said that the sales tax constitutes around 42 percent of the total net revenue collection. The collection during the first half of 2020-21 has been Rs. 914.2 billion, against Rs. 857.5 billion in the first half of 2019-20. The overall sales tax collection had grown by 6.6 percent, and around Rs. 57 billion of a higher amount has been collected during the first half of 2020-21, as compared…

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The Australian fast bowler, Pat Cummins, named the Pakistan skipper, Babar Azam, as one of the toughest batsmen he has ever bowled to. Cummins, who is the number one Test bowler in the world, said that several players are tough to bowl to, but he always looks forwards to such challenges as they are the most rewarding. ALSO READ Afghanistan to Host Pakistan in a Historic Series This Year Cummins said that almost every top nation has some top batsmen, and he has enjoyed bowling to them throughout his career. “You talk about Joe Root and Ben Stokes from England.…

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The withholding tax (WHT) collection contributes a major chunk (64 percent) to the total collection of the gross income tax collection during the first half (July-December) of 2020-21, according to a report of the Federal Board of Revenue (FBR). It issued a new report on revenue analysis during the first half (July-December) of 2020-21. It said that the WHT collection during FY 2020-21 has been Rs. 569.3 billion against Rs. 544.5 billion, indicating a growth of 4.6 percent. ALSO READ ECNEC Approves Multiple Hydropower and Infrastructure Projects The ten major components of the withholding taxes that contributed around 83 percent…

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In order to facilitate the startup companies in raising financing from abroad, the State Bank of Pakistan has allowed them to avail loans as “Convertible Debt”. Convertible debt is a type of financing with the option that it may be converted into equity shares of the borrowing company, subject to certain terms and conditions. Before the latest instructions, entities were allowed to raise foreign currency loans from abroad within the parameters defined in Chapter 19 of the Foreign Exchange Manual, but there was no specific category that provided the option of convertibility of loan into the equity of the borrowing…

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