What We Are Reading Today: Business Adventures

What We Are Reading Today: Business Adventures
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Updated 21 September 2023
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What We Are Reading Today: Business Adventures

What We Are Reading Today: Business Adventures

Author: John Brooks

This business classic written by longtime New Yorker contributor John Brooks is an insightful and engaging look into corporate and financial life in America, says a review published on goodreads.com. 

Stories about Wall Street are infused with drama and adventure and reveal the machinations and volatile nature of the world of finance. 

Brooks’ insightful reportage is so full of critical detail that whether he is looking at the astounding market crash of 1962 or the bold attempt by American bankers to save the British pound, one gets the sense that history really does repeat itself.


Pakistan deputy PM calls PIA flight restoration ‘major priority’ in talks with UK officials

Pakistan deputy PM calls PIA flight restoration ‘major priority’ in talks with UK officials
Updated 4 min 28 sec ago
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Pakistan deputy PM calls PIA flight restoration ‘major priority’ in talks with UK officials

Pakistan deputy PM calls PIA flight restoration ‘major priority’ in talks with UK officials
  • Ishaq Dar says the government will start receiving bids for PIA privatization from October 1
  • Deputy PM tells the media his five-day visit to London as ‘potentially very useful’ for Pakistan

ISLAMABAD: Deputy Prime Minister Ishaq Dar on Saturday described restoring Pakistan International Airlines (PIA) flights to the United Kingdom and other European countries as a “major priority,” saying that he raised the issue with British officials during his five-day visit to London, which he called beneficial for the country.
The suspension of PIA flights to the UK and Europe followed a 2020 plane crash in Karachi that killed 97 people. This was compounded by a controversial statement from Ghulam Sarwar Khan, the aviation minister in former Prime Minister Imran Khan’s administration, who asserted that a significant number of Pakistani pilots held fake licenses, leading to the European Union Aviation Safety Agency (EASA) ban on PIA.
Since then, the airline has undergone multiple audits to address safety and operational concerns in hopes of restoring international routes.
Addressing a news conference in London, Dar criticized the former aviation minister’s “irresponsible statement,” saying Pakistan had since made every effort to resume PIA flights.
“I told the [British] deputy prime minister [Angela Rayner] that it is a serious matter for our community and diaspora,” he said during the media interaction at the Pakistan High Commission. “It is a major priority. So, we will continue to engage and will not sit and relax until as long as this thing is done.”
Dar noted that while restoring flights to Britain and Europe was important, advancing the privatization process of the national airline was equally vital.
“We will start receiving the first round of bids for PIA [privatization] on October 1,” he said, adding the government was also outsourcing Islamabad airport operations, with bids expected next month.
He further emphasized that his visit to Britain had been highly productive.
“I believe that my visit was extensive, busy and potentially very useful for Pakistan,” he said.
This was Pakistani deputy prime minister’s first visit to Britain following the change of government in the UK, where the Labour Party won the general elections in July and returning to power after 14 years.


Completion of Saudi Arabia’s Qunfudhah-Sabt Al Jarah road project expected to improve traffic safety

Completion of Saudi Arabia’s Qunfudhah-Sabt Al Jarah road project expected to improve traffic safety
Updated 33 min 5 sec ago
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Completion of Saudi Arabia’s Qunfudhah-Sabt Al Jarah road project expected to improve traffic safety

Completion of Saudi Arabia’s Qunfudhah-Sabt Al Jarah road project expected to improve traffic safety

RIYADH: Saudi Arabia’s road development  project connecting the western regions of Makkah and Asir is now complete, the General Authority for Roads said in a report carried by the Saudi Press Agency on Saturday.

The two-lane Qunfudhah-Sabt al-Jarah road is 8 kilometers long and has three bridges, the report said.

The new concrete road is expected to reduce accidents resulting from vehicles slipping into valleys during torrents, as well as increase road capacity and reduce travel time between the two regions.

Engineers have modified the path of the old Sabt Al-Jarah Road to bypass flood channels, installed 100 guidance panels, 2,000 ground reflectors, 97,000 meters of paint lengths, and warning vibrations, to raise the level of safety, said the report.
 


Venezuela says presidential opposition candidate has left country

Venezuela says presidential opposition candidate has left country
Updated 44 min 36 sec ago
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Venezuela says presidential opposition candidate has left country

Venezuela says presidential opposition candidate has left country
  • Venezuela has been in a political crisis since authorities declared Maduro the victor of the July 28 election

CARACAS: The Venezuelan government said Saturday opposition candidate Edmundo Gonzalez Urrutia — in hiding after he challenged President Nicolas Maduro’s disputed reelection — has left the country, seeking asylum in Spain.
“After taking refuge voluntarily at the Spanish embassy in Caracas a few days ago, (Gonzalez Urrutia) asked the Spanish government for political asylum,” Venezuela’s vice president said on social media, adding that Caracas had agreed to his safe passage and that he had left.
The opposition could not immediately be reached for comment.
Venezuela has been in a political crisis since authorities declared Maduro the victor of the July 28 election. The opposition cried foul, claiming it had evidence Gonzalez Urrutia had won by a comfortable margin.
Numerous nations, including the United States, European Union and several Latin American countries, have refused to recognize Maduro as the winner without Caracas releasing detailed voting data.
After the election, Venezuelan prosecutors issued an arrest warrant for Gonzalez Urrutia over his insistence that he is the rightful winner of the election.
Prior to leaving the country, he had been in hiding for a month, ignoring three successive summons to appear before prosecutors.
Post-election violence in Venezuela has claimed 27 lives and left 192 people injured while the government says it has arrested some 2,400 people.


Ex-PM Khan party holds rally in Islamabad today to press for his release

Ex-PM Khan party holds rally in Islamabad today to press for his release
Updated 54 min 53 sec ago
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Ex-PM Khan party holds rally in Islamabad today to press for his release

Ex-PM Khan party holds rally in Islamabad today to press for his release
  • Khan, who has been in jail since August, has waged an unprecedented campaign of defiance against Pakistan’s military since his ouster in April 2022
  • His PTI party has struggled to hold rallies across Pakistan and says it has been facing a state-backed crackdown, an allegation denied by authorities

ISLAMABAD: Jailed former prime minister Imran Khan’s Pakistan Tehreek-e-Insaf (PTI) party is holding a rally in Islamabad today, Sunday, to press authorities for the release of the ex-premier, who has been facing a slew of cases.
Khan, who has been in jail since August on charges of corruption, treason and attempting to incite a mutiny in the military, has waged an unprecedented campaign of defiance against Pakistan’s military since his ouster in a parliamentary no-trust vote in April 2022.
He has accused the then army leadership of orchestrating his ouster together with his political rivals as part of a United States-backed “foreign conspiracy.” The military, Khan’s rivals and Washington have repeatedly denied this.
His PTI party aims to mobilize the public for the release of the former cricket star who has a devoted following, but has struggled to hold rallies across the country. The party this week said it got permission for the rally in Islamabad, which was canceled twice in recent months.
“We are holding this rally as per the law and the constitution,” PTI member Aamir Dogar was quoted as saying by the party on X. “Efforts should not be made to prevent it.”


The party has also announced simultaneous protests outside the Pakistani embassy in London and in other parts of the world.
“Everyone must attend the all important protest tomorrow in London outside the Pakistan embassy,” Sayed Zulfikar Bukhari said on X. “It will be a historic turnout in Islamabad, London and world over. This is the beginning of our peaceful protests in Pakistan and world over. It’s a duty upon us to stand up.”

The PTI says it has been facing a state-backed crackdown and the mass arrest of its members and supporters for standing by Khan. Pakistani authorities deny the allegations.
The action against the PTI began after people carrying its party flags attacked and damaged government and military installations on May 9, 2023, after Khan’s brief arrest that day in a graft case.
Hundreds of PTI workers and leaders were arrested following the May 9 riots and many remain behind bars as they await trial. The military has also initiated trials of at least 103 people accused of involvement in the violence.
Khan recently made a “conditional” offer of talks to the army, if “clean and transparent” elections were held and the “bogus” cases against his supporters were dropped. The military, which has repeatedly said Khan and his party were behind the May 9 attacks, has ruled out any talks with him.


Chicago Sky’s Angel Reese says on social media that her historic rookie season is over due to injury

Chicago Sky’s Angel Reese says on social media that her historic rookie season is over due to injury
Updated 08 September 2024
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Chicago Sky’s Angel Reese says on social media that her historic rookie season is over due to injury

Chicago Sky’s Angel Reese says on social media that her historic rookie season is over due to injury
  • Reese announced injury after the Sky ended a 7-game skid with 92-78 victory over Sparks
  • Chicago is battling for the WNBA’s final playoff spot, currently tied with Atlanta for the eighth position

CHICAGO: Angel Reese’s historic rookie season is over.
The Chicago Sky forward said on social media Saturday night that she has a season-ending injury, but didn’t specify what it was. She was listed on the team’s injury report with a wrist injury.
“What a year. I never would have imagined the last bucket of my rookie season would be a 3 but maybe that was God saying give them a taste of what they will be seeing more of in Year 2 lol,” Reese wrote. “Through it all, I have showed that I belong in this league even when no one else believed. All I have ever wanted was to come into the W and make an impact. I can confidently say I have done that and will strive to keep doing so.”
Reese finishes the season averaging 13.6 points and 13.1 rebounds. It’s the highest rebound average in the history of the league. Reese also set the rookie record with 26 double-doubles — her last coming in a win over the Los Angeles Sparks on Friday night.

Reese finished with 24 points and 12 rebounds for her rookie record 26th double-double of the season and the Chicago Sky snapped a seven-game losing streak with a 92-78 victory over the  Sparks.
Reese made 9 of 15 shots with a 3-pointer and all five of her free throws as Chicago (12-22) remained tied with the Atlanta Dream for the final spot in the postseason with six games remaining.
Chennedy Carter finished with 15 points, nine rebounds and seven assists in her return for the Sky. Carter had not played since Aug. 25 due to health and safety protocols. Kamilla Cardoso totaled 12 points and nine boards.
Dearica Hamby had 21 points, five assists and four steals to lead Los Angeles (7-27), which has lost three in a row and 10 of its last 11. Rookie Rickea Jackson added 17 points and six rebounds.
Jackson’s layup gave Los Angeles a 19-13 lead with 2:43 left in the first quarter. Diamond DeShields and Rachel Banham hit back-to-back 3-pointers to pull Chicago even. Hamby made 1 of 2 free throws with three seconds left to give the Sparks a 20-19 lead.
Banham had nine points by halftime on 3-for-3 shooting from beyond the arc and Carter also scored nine to help Chicago build a 48-42 lead.
Reese took over in the third quarter, scoring 11 points to push Chicago’s lead to 75-61.
The Sparks fell to 2-16 on the road this season. Chicago won for just the fifth time in 17 home games. The Sky won all three matchups with the Sparks this season.