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Climate change could cost US ‘hundreds of billions’ a year: study

TAMPA: Climate change is already hurting the global economy and will cost the US hundreds of billions of dollars annually by century's end unless drastic action is taken to cut carbon emissions, a major US government report warned. "With continued growth in emissions at historic rates, annual losses in some economic sectors are projected to reach hundreds of billions of dollars by the end of the century -- more than the current gross domestic product (GDP) of many US states," the latest edition of the National Climate…

Cost of CPEC rail project cut by $2 billion, says minister

LAHORE: Railways Minister Sheikh Rashid Ahmed has said that the cost of Pakistan Railways’ (PR) ML-1 project under the China Pakistan Economic Corridor (CPEC) has been cut by $2 billion. The mega project to revamp the colonial-era line stretching 1,872 km (1,163 miles) from Karachi to the northwestern city of Peshawar was initially priced at $8.2 billion, but wrangling over costs has led to delays. The changes are part of Islamabad’s efforts to rethink key Belt and Road Initiative (BRI) projects in Pakistan, where…

Helicopter travel costs Rs 20,000 per minute, says ex-PM Abbasi

ISLAMABAD: Chipping in with the ongoing debate over ‘cheap’ cost of helicopter trip, former prime minister Shahid Khaqan Abbasi, who himself owns an airline, stated that per minute of a helicopter commute is around Rs 20,000. During a media talk, the ex-PM expressed surprise on statement of Fawad Chaudhary who said per kilometer cost of helicopter commute is Rs 55. “I must say every Pakistani is now waiting for the helicopter that costs Rs 55 per km,” he taunted. Read: Naeem-ul-Haq defends PM Imran’s use of helicopter…

What will it cost to denuclearise North Korea?

VIENNA: At a summit in Singapore in early June with U.S. President Donald Trump, North Korean leader Kim Jong-Un pledged to “work towards complete denuclearisation of the Korean Peninsula”. Follow-up talks between U.S. Secretary of State Mike Pompeo and North Korean officials are due to be held, and Trump said last week, “It will be a total denuclearisation, which has already started taking place.” Assuming denuclearisation of North Korea does take place, what would it look like and how much would it cost? What does…

2018 elections to cost national exchequer over Rs20bn

ISLAMABAD: The upcoming general elections which are likely to be held in the last week of July will cost the national exchequer dearly with the Election Commission of Pakistan (ECP) estimating an initial cost of the polls at more than Rs20 billion, ARY News reported.  According to informed sources, the electoral body has estimated an initial cost of the 2018 polls at over Rs20 billion. Out of the initial estimated cost, Rs one billion will be spent for maintaining law and order situation during elections, and Rs six to…

Cyberattacks cost US up to $109 billion in 2016 report

WASHINGTON: Cyberattacks cost the United States between $57 billion and $109 billion in 2016, a White House report said Friday, warning of a "spillover" effect for the broader economy if the situation worsens. A report by the White House Council of Economic Advisers sought to quantify what it called "malicious cyber activity directed at private and public entities" including denial of service attacks, data breaches and theft of intellectual property, and sensitive financial and strategic information. It warned of…

Cost of diabetes epidemic reaches $850 billion a year

NEW YORK: The number of people living with diabetes has tripled since 2000, pushing the global cost of the disease to $850 billion a year, medical experts said on Tuesday. The vast majority of those affected have type 2 diabetes, which is linked to obesity and lack of exercise, and the epidemic is spreading particularly fast in poorer countries as people adopt Western diets and urban lifestyles. The latest estimates from the International Diabetes Federation mean that one in 11 adults worldwide have the condition,…

Disrespecting China’s anthem can now cost 3 years jail

BEIJING: China has passed legislation to punish anyone who disrespects the national anthem with up to three years in prison, state media reported Saturday. The changes to China's criminal law were approved during a committee meeting of the country's rubberstamp parliament, the National People's Congress (NPC), according to the official Xinhua news agency. "Serious cases of disrespecting the country's national anthem in public would get punishments including deprivation of political rights, criminal detention, and…