Fastest News Come First
The Adani Group, one of India’s largest conglomerates, faces a storm of controversy following bribery allegations. US authorities charged the group’s billionaire chairman, Gautam Adani, and seven others with paying $265 million in bribes to Indian officials. The charges, which include misleading public statements, cast a shadow over the group’s ambitious projects and global reputation. …
Continue reading “Adani Group Faces Turmoil Amid Bribery Allegations”
Hyundai and Kia have announced a major recall of more than 208,000 electric vehicles (EVs) due to a critical power loss issue. The recall aims to address a defect in the charging control unit that could lead to a sudden loss of drive power, posing a significant safety risk. This move highlights the automakers’ commitment …
Continue reading “Hyundai and Kia Recall Over 208,000 EVs for Power Loss Issue”
The rapid adoption of solar energy in Pakistan has led to significant cost shifts for non-solar power consumers, resulting in an additional Rs200 billion burden in fiscal year 2023-24. The report “The Distributed Divide – How Solar Expansion Affects Non-Adopting Consumers and Utility Economics,” highlights the growing need for regulatory reforms to address these solar-driven …
Continue reading “Solar Expansion Drives Tariff Hike for Non-Adopters”
ISLAMABAD: Pakistan Petroleum Limited (PPL) has once again secured its position as one of Pakistan’s largest corporate donors. The Pakistan Centre for Philanthropy (PCP) recognized PPL for its Corporate Social Responsibility (CSR) contributions in 2022. This marks the 19th consecutive year the company has received this honor. PPL’s CSR contributions for the financial year 2023-24 …
Continue reading “PPL Named Top Corporate Donor for 19th Consecutive Year”
The Pakistan Stock Exchange (PSX) experienced a significant rise in investors registrations in October 2024. According to data from the National Clearing Company of Pakistan Limited (NCCPL), 10,001 new accounts were registered during the month. This marked a 17% month-on-month increase. Active Accounts Reach 345,290 The surge in registrations has pushed the total number of …
Continue reading “Pakistan Stock Exchange Welcomes 10,001 New Investors in October”
Oil prices increased on Thursday, fueled by supply concerns linked to heightened geopolitical tensions. The ongoing Russia-Ukraine war and developments in the global energy market have played a significant role in this upward trend. Brent crude futures for January delivery rose by 28 cents, or 0.4%, to settle at $73.09 per barrel. Similarly, U.S. West …
Continue reading “Oil Prices Rise Amid Geopolitical Tensions and Supply Concerns”
The Federal Investigation Agency (FIA) Cooperative Crime Circle arrested a Karachi-based trader accused of defrauding a Chinese company. He sent containers filled with soil and gravel instead of chrome ore. The fraudulent shipment was valued at Rs. 110 million. FIA officials confirmed that a case was registered against Syed Zeeshan Afzal Bilgrami, the owner of …
Continue reading “Karachi Trader Arrested for Defrauding Chinese Company in Mineral Scam”
The State Bank of Pakistan (SBP) has issued a license to M/s. E-Processing Systems Private Limited (EPSPL) to commence commercial operations as an Electronic Money Institution (EMI). With this license, EPSPL will offer e-money wallets to consumers, merchants, and agents, facilitating digital payment solutions. This new addition brings the total number of licensed EMIs in …
Continue reading “SBP Grants License to EPSPL for Commercial Operations”
Gold prices are continuing their upward trend in both international and local markets. In the international bullion market, the price of gold per ounce increased by $8, reaching $2,631. Meanwhile, the local gold market also witnessed a sharp rise. The price of gold per tola surged by 800 rupees, hitting 274,300 rupees. Similarly, the price …
Continue reading “Gold Prices Continue Upward Surge in Global and Local Markets”
The Pakistani rupee weakened marginally against the US dollar on Tuesday. The currency depreciated by 0.03% in the inter-bank market, closing at 277.95, a loss of Re0.09 from Monday’s value of 277.86, according to the State Bank of Pakistan (SBP). Globally, the Japanese yen showed signs of recovery, strengthening to 154.40 per dollar after briefly …
Continue reading “Pakistani Rupee Marginally Declines Against US Dollar”
Gold prices in Pakistan saw a significant rise on Tuesday, following an upward trend in global markets. The price of gold per tola increased by Rs3,600, reaching Rs273,500, according to the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA). Similarly, the price of 10-gram gold rose by Rs3,086, settling at Rs234,482. This increase comes on the …
Continue reading “Gold Prices Hit Rs 273,500 per Tola Amid Global Market Rally”
Pakistan has signed a $500 million loan agreement with the Asian Development Bank (ADB) to strengthen its climate resilience and disaster response capacity. This initiative, under the Climate and Disaster Resilience Enhancement Programme, aims to improve Pakistan’s ability to plan, prepare, and respond to the growing challenges posed by climate change and natural disasters. Enhancing …
Continue reading “Pakistan and ADB Join Forces for Climate Resilience”
The Korangi Association of Trade and Industry (KATI) has mourned the loss of Ilyas Ahmed Bilour, a former senator, ex-President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), and an influential industrialist. Known for his dedication to Pakistan’s business community, Bilour’s passing is a significant loss to the country’s trade and industry …
ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved the acquisition of 50% shares in Total Parco Pakistan Limited (TPPL) by Aquashore SA, a subsidiary of Switzerland’s Gunvor Group. The shares will be transferred from TotalEnergies Marketing Services under a recently finalized Sale and Purchase Agreement. A Milestone in Petroleum Transactions This acquisition is among …
Continue reading “CCP Approves Gunvor Group’s Acquisition of 50% Stake in Total Parco”
The Securities and Exchange Commission of Pakistan (SECP) convened the first meeting of its newly formed Islamic Capital Market Development Committee (ICMDC) on November 18, 2024. The committee aims to drive innovation and growth in Pakistan’s Islamic capital markets. Dr. Irum Saba, Associate Professor at IBA, chaired the inaugural session. The committee includes industry experts, …
Continue reading “SECP Holds First Meeting of Islamic Capital Market Development Committee”
ISLAMABAD: The government has decided to recover taxes from all sectors, including real estate, wholesale, and agriculture, which have previously evaded contributing their fair share. Finance Minister Muhammad Aurangzeb announced this during a televised address on Sunday. He also called for a national Charter of Environment to tackle critical issues like climate change, child stunting, …
Continue reading “Pakistan Resolves to Tax All Sectors Equitably: Aurangzeb”
Islamabad: The federal government has announced that the prices of petrol and high-speed diesel (HSD) will remain unchanged for the next fortnight, starting November 16. The Finance Division issued a notification stating that the Oil and Gas Regulatory Authority (OGRA) calculated the prices of petroleum products based on international market trends over the last two …
Follow these simple steps to schedule a call in a WhatsApp group: Open WhatsApp: Launch the app on your device. Select the Group: Navigate to the group chat where you want to set up the call. Create an Event: Tap the paperclip icon, select “Event,” and then choose “Create Event.” Enter Details: Add an event …
London: Oil prices remained largely unchanged on Thursday, following earlier declines this week due to a stronger U.S. dollar and concerns over rising supply amid sluggish demand growth. At 1203 GMT, Brent crude futures gained 17 cents, reaching $72.45 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose 14 cents, settling at $68.57 per …
Continue reading “Oil Prices Hold Steady Amid Dollar Strength and Supply Worries”
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has issued a warning to the public about a fake trading platform operating under the name Interactive Brokers Group (IBKR). This unregistered entity is using social media and WhatsApp groups to lure individuals with promises of high returns from trading on the Pakistan Stock Exchange (PSX) …
Continue reading “SECP Issues Warning on Fake Trading Platform “IBKR””
Karachi: Pakistan Stock Exchange (PSX) has revealed the recipients of the prestigious Top 25 Companies Awards for 2023. These awards, launched in 1978, honor excellence in Pakistan’s corporate sector, highlighting financial performance, governance, and sustainability efforts. The Top 25 Companies Awards are based on strict pre-requisites. Companies must distribute a minimum dividend of 30% and have …
Continue reading “PSX Announces Top 25 Companies Awards for 2023”
Investor sentiment at the Pakistan Stock Exchange (PSX) remained positive on Friday, as the benchmark KSE-100 Index gained over 750 points in the first half of the trading session. This surge came after concerns over a potential mini-budget eased, contributing to growing optimism among investors. By 12pm on Friday, the KSE-100 Index was hovering at …
Continue reading “PSX Soars 750+ Points as Investor Sentiment Improves”
ISLAMABAD: Minister of State for Finance and Revenue, Ali Pervaiz Malik, announced Thursday that the government aims to reduce the tax burden on the salaried class and withdraw taxes on milk. However, this will only be possible if the Federal Board of Revenue (FBR) succeeds in recovering Rs 300 billion to Rs 350 billion from …
Continue reading “Govt Plans Tax Relief for Salaried Class, Targets Cigarette Tax Evasion”
