Business
Pakistan’s LSM Shows 4.08% Growth in Early Recovery Phase
Industrial activity in Pakistan is showing early signs of recovery, as large-scale manufacturing (LSM) posted 4.08% growth in the first quarter of FY26, driven primarily by a strong rebound in the automobile and cement sectors. September alone recorded 2.69% year-on-year…
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Merger of Shutterstock and Getty Images Forms $3.7 Billion Visual Content Giant
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Tuesday saw the announcement of a cash-and-stock merger between Getty Images and rival Shutterstock. According to yesterday’s closing share prices, the combined business is anticipated…
Federal Govt to Eliminate 150,000 Vacant Posts in Phase-I of Rightsizing Plan
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The federal government has decided to close 43 ministries and eliminate 150,000 vacant positions in Phase I of its rightsizing initiative, Finance Minister Muhammad Aurangzeb…
Al-Ghazi Tractors Temporarily Shuts Down Manufacturing Facility
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ISLAMABAD: Al-Ghazi Tractors Limited has announced the temporary suspension of its manufacturing plant, effective from January 4 to January 31, 2025. The decision was made…
3 Million Users Uninstall PayPal’s Honey Extension After Backlash
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PayPal’s Honey extension, popular for finding coupon codes, has faced criticism due to unethical practices. A viral video by MegaLag, with over 14 million views,…
Banking Sector’s ADR Shows Significant Recovery from 38.4% to 51.8% in Q4 2024
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The State Bank of Pakistan (SBP) has reported a remarkable increase of Rs. 700 billion in bank advances as of December 27th, 2024. The banking…
Top Contributors to PSX’s 84% Surge in 2024
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The Pakistan Stock Exchange (PSX) experienced a remarkable surge in 2024, with the benchmark KSE-100 index climbing by 84%, adding 52,676 points to reach a…
10 Inspiring Startups Proving That Age Has No Limits in Business
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In a world that often associates entrepreneurship with youth, age doesn’t limit the ability to innovate and build a successful business. Many individuals have proven…
SadaPay Sends Erroneous Email to Users, Apologizes for Glitch
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In an unusual incident, several SadaPay users recently received an email from the fintech company informing them that their account funds had been processed. The…
Turkish Group Proposes 47% Concession Fee, Below Minimum for Islamabad Airport Operations
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Islamabad: A Turkish consortium, the only bidder for the management of Pakistan’s Islamabad airport, has proposed a concession fee that falls below the required minimum…
SBP Reserves Decline to $11.7 Billion After Two Consecutive Drops
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The State Bank of Pakistan (SBP) reported a decline of over $143 million in its foreign exchange reserves weekly, according to data released by the…
Veon Group Invests $15 Million in Mobilink Bank for Growth and Tech Advancements
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ISLAMABAD: Veon Group, a global digital operator, has invested $15 million in Mobilink Bank Pakistan to support the bank’s growth initiatives and technological transformation. The…
Alibaba Sells 78.7% Stake in Sun Art Retail to DCP Capital for $1.58 Billion
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Alibaba Group Holding Ltd. has reached an agreement to sell its majority stake in Sun Art Retail Group, one of China’s leading hypermarket chains, to…
Rs275 Million Penalties Enforced by CCP in 2024
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The Competition Commission of Pakistan (CCP) intensified its efforts against anti-competitive behaviors in 2024, imposing fines totaling Rs275 million on various companies. These penalties targeted…
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