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Twitter ad sales surge in third quarter, shares jump

NEW YORK: Twitter posted revenue and profit ahead of Wall Street estimates on Thursday, as higher advertising sales offset a drop in monthly users to push the company’s shares up nearly 12 percent before the opening bell. Quarterly advertising revenue jumped 29 percent from a year earlier to $650 million, boosted by advertiser interest in broadcasts from media companies including Live Nation Entertainment, Major League Baseball and Major League Soccer. That drove a similar rise in overall revenue from a year earlier to…

ECC likely to green-light electricity tariff hike today

ISLAMABAD: The Economic Coordination Committee (ECC) will meet today with Finance Minister, Asad Umar, in the chair to mull over summary about electricity tariff increase, as it has been deferred thrice before. The National Electric Power Regulatory (NEPRA) had proposed an increase of Rs3.82 per unit, however, sources say that electricity tariff will be hiked up to Rs2.30 per unit. During last meeting of the ECC held on October 22, Mr Umar had directed authorities concerned to submit a detailed plan for improvements in…

ECC meeting to be held today to decide power tariff hike

ISLAMABAD: Economic Coordination Committee(ECC) in a meeting today (Monday) expected to give go ahead for electricity tariff hike. The ECC meeting will be chaired by Finance Minister, Asad Umar, which is expected to give approval to surge electricity tariff up to  2.20 rupees per unit. It was learnt that expected tariff hike will generate Rs200billion for government's kitty annually. It is prime condition of the International Monetary Fund (IMF) to hike electricity tariff, in order to get new program from it. In…

Bitcoin surges again after dramatic fall this year

NEW YORK: Bitcoin hit a three-week high on Tuesday and has surged nearly 100 percent from its lowest level this year, as its recovery continued after South Korea’s financial regulator eased its stance on cryptocurrencies, weeks after it considered shutting down digital currency exchanges. Analysts cited South Korean news agency Yonhap, which reported Choe Heung-sik, governor of the Financial Supervisory Service, as saying that the government will support cryptocurrency trading if “normal transactions” are made.…

Bitcoin surges above $17,000 as concerns mount

TOKYO: Bitcoin briefly crossed through the $17,000 (£12,615) mark in volatile Asian trading, triggering a warning the cryptocurrency was like a "train with no brakes" and prompting fresh concern about its looming launch on mainstream markets. Still under $14,000 in Asian trading hours, it smashed through $15,000 in European trading and got as high as $16,777 before pulling back, according to Bloomberg data. Near 2145 GMT, bitcoin surged above $17,000. The rally came just a day after the virtual currency, which has been…