Facebook faces rough weather in Germany

The Federal Cartel Office (Bundeskartellamt) in Germany is preparing possible sanctions against US social media giant Facebook, the newspaper Rheinische Post reported on Tuesday. The national competition watchdog accuses Facebook of indiscriminately collecting and using data from German users without their knowledge or consent. “We criticize the fashion in which the company collects and uses personal data as a potential abuse of market power,” Andreas Mundt, president of the Federal Cartel Office, told “Rheinische Post”. is an approved foreign currency for denominating foreign currency transactions in Pakistan. “SBP has already put in place the required regulatory framework which facilitates use of yuan in trade and investment transactions,” said the central bank. In terms of regulations in Pakistan, the yuan is at par with other international currencies such as the US dollar, euro and Japanese yen, etc, the statement further added.