Fertilizer Imports Soar by 121.36% in First Four Months of FY 2024-25
Fertilizer imports into the country have seen a significant increase of 121.36% in the first four months of the current financial year (July-October 2024) compared to the imports of the corresponding period of the last year.
Mehfooz
Next Generation broadband Spectrum auction held next year in April
Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, chaired a pivotal meeting of the Advisory Committee on the Release of IMT Spectrum at the Finance Division today. The focus was on the enhancement of next-generation mobile broadband services in Pakistan.
Mobile Phone’s Import Drop by Over 10% to $420 Million in Four Months
The import of mobile phones into the country has witnessed a decrease of 10.46 percent during the first four months of the current fiscal year (2024-25) as compared to the corresponding months of last year.
New SBP Regulations for Profit Sharing on Islamic Banking Savings
The State Bank of Pakistan (SBP), revised the instructions for profit and loss distribution and pool management for Islamic Banking Institutions (IBIs) which now are required to pay profit on their PKR saving deposits equivalent to at least 75 percent of the weighted average gross yield of all pools of an IBI.
Pakistan Stock Exchange loses 3,505 points amid bearish trend
The 100-Index of the Pakistan Stock Exchange (PSX) experienced a significant bearish reversal on Tuesday, losing 3,505.62 points—a negative change of 3.57 percent. This decline brought the index down to close at 94,574.16 points, compared to 98,079.78 points on the last trading day.
A revolutionary approach to Cancer, and the role of Art in Healing; A series of talks by Dr. Azra Raza at LUMS
“No one is winning the war on cancer.” These sobering words from Dr. Azra Raza, a globally renowned oncologist, author, and professor at Columbia University, echoed across a captivated audience at LUMS, where she held a series of thought-provoking talks from November 20-22.
Swedish Companies Face Hurdles: High Taxes, Energy Costs, and Currency Transfer Issues
The Ambassador of Sweden Ms. Alexandra Berg von Linde, while commenting on Sweden-Pakistan trade and investment ties, stated that more than 40 Swedish companies have been established in Pakistan, of which many were known Swedish brands and have been present here for many decades but these Swedish companies face challenges including high tax rates when it comes to foreign investment, high energy prices and the difficulties in transferring foreign currencies.
Zong 4G Pioneers Pakistan’s First Locally Developed Large Language Model
Zong 4G, a leader in digital innovation has developed Pakistan’s first locally created Large Language Model (LLM), a breakthrough in the nation’s telecom sector. As the only telecom operator in Pakistan to have developed an advanced AI-driven model in-house, Zong is set to transform digital interactions and elevate customer service standards, cementing its position as the technological leader in the industry.
VPN blockage and internet slowdown threaten IT companies with losses and closure
Sajjad Mustafa Syed, Chairman of the Pakistan Software Houses Association (P@SHA) – the apex representative body of the Information Technology industry – has warned that the internet slowdown and blocking of virtual private network (VPN) services will certainly translate into an existential threat as it will result in unrecoverable financial loss, service disruptions, and reputational loss in the export of IT and IT-enabled Services (ITeS). It is pertinent to note that IT industry exports clocked at $3.2 billion in FY-24, he added.
CCP approves 50% acquisition of Total Parco by Gunvor Group
The Competition Commission of Pakistan (CCP) granted approval for the acquisition of 50 percent share-holding in M/s. Total Parco Pakistan Limited (TPPL) by M/s. Aquashore SA, a company operating under Switzerland’s Gunvor Group.