Islamabad, Jan 31: The British Council, in partnership with the WOW Foundation, UNFPA and Entrepreneurship and Community Development Institute (ECDI) is set to host the 8th annual WOW Women of the World Festival Pakistan. The festival will take place at the Alhamra Arts Council, Lahore, on the 1st and 2nd of February 2025 and will celebrate women’s achievements, foster dialogue, and address the challenges they face. The festival invites women, girls, and families to enjoy a diverse and inclusive program. James Hampson, Country Director, British Council Pakistan said: “Celebrating the role of women and championing the empowerment of Pakistan’s girls…
Author: Iqra Khan
Islamabad, Jan 30: The Federal Board of Revenue (FBR) is facing a significant challenge in meeting its revenue collection target for January 2025. According to sources, the FBR has so far collected Rs. 800 billion against the ambitious target of Rs. 950 billion for the month, leaving the tax collection department with a daunting task of gathering Rs. 150 billion in the remaining days of January. Despite this gap, FBR officials remain optimistic about achieving the revenue collection goals for the current fiscal year (FY25), citing expectations of increased tax collection as economic activity picks up in the coming months.…
Islamabad, Jan 30: A Chinese firm, ADM Group, has announced plans to establish 3,000 electric vehicle (EV) charging stations across Pakistan, with the aim of promoting green energy adoption and creating significant employment opportunities. The initiative is expected to play a key role in boosting the country’s transition to sustainable transportation. A delegation from ADM Group met with Sindh Energy Minister Nasir Hussain Shah and other stakeholders to discuss the expansion of EV infrastructure in Pakistan. Minister Shah expressed strong support for the project, emphasizing its importance for the growth of the EV ecosystem. The proposed charging stations will be…
Islamabad, Jan 30: The King Salman Humanitarian Aid and Relief Center (KSrelief) has announced the launch of a significant humanitarian project to distribute 84,500 Shelter Non-Food Items (NFIs) and Winter Kits across Pakistan, as part of its annual initiative to support vulnerable communities. A formal launching ceremony was held at Islamabad. His Excellency Ambassador Nawaf Bin Said Al-Maliki, Mr. Rana Tanveer Hussain, Federal Minister for National Food Security and Research, Pakistan along with Mr. Abdullah Al-Baqami, Director of the King Salman Humanitarian Aid & Relief Centre (KSrelief) Pakistan officially dispatched the winter packages.
Islamabad, Jan 30: Tesla has released its financial results for the fourth quarter of 2024, revealing a net income of $2.3 billion, despite reporting a slight 1.9% increase in revenue year-over-year, reaching $25.7 billion. While revenue showed modest growth compared to Q4 2023, the company’s net income saw a significant decline of 70%, largely due to a one-time non-cash tax benefit of $5.9 billion recorded in the previous year. For the full year, Tesla generated $97.7 billion in revenue, with a net income of $7.1 billion, reflecting a 6% decrease from the previous year. Tesla’s regulatory credits business continues to…
Islamabad, Jan 30: Bank Makramah Limited (PSX: BML) has successfully secured court approval for its settlement application with OMNI Group. The approval, announced via a stock filing on Thursday, comes after both parties reached an agreement on the recovery of non-performing loans (NPLs) owed by various companies within the OMNI Group and its affiliated entities. In the official statement, the bank expressed its satisfaction with the court’s decision, stating, “We are pleased to inform that the Court has accepted the settlement application filed by Bank Makramah Limited and OMNI Group for the recovery of non-performing loans owed by various companies…
Islamabad, Jan 30: In a significant move to bolster Karachi’s power infrastructure, Moonis Alvi, the CEO of K-Electric, recently met with Cathy Marsh, the Deputy Director General of the Asian Development Bank (ADB), and her team to explore potential areas of mutual cooperation. The key focus of their discussions was the $2.0 billion investment plan that K-Electric has devised to strengthen the city’s power grid. The meeting centered on ADB’s potential role as a financier in the ambitious investment plan, which aims to enhance the generation, transmission, and distribution capacities of K-Electric. This investment is critical in meeting Karachi’s increasing…
Islamabad, Jan 30: President of the SITE Association of Industry Ahmed Azeem Alvi, has in a press statement, said that no water has been provided to industries of SITE area Karachi since past 4 days, which has brought the industrial production to a halt. Resultantly, the workers are sitting idle and the export orders are getting delayed. He said that factories are closed since last 4 days and the industrialists have no option left but to close down industries and lay off the workers. Referring to the ongoing strike of sub-soil water suppliers as a result of operation by KWSC,…
Islamabad, Jan 30: The Federation of Pakistan Chambers of Commerce & Industry (FPCCI) convened a pivotal meeting of the Pakistan-UAE Business Council (PUAEBC) at the Federation House in Karachi. The session, which aimed at fortifying trade ties between Pakistan and the UAE, was chaired by Saqib Fayyaz Magoon, Senior Vice President of FPCCI, and convened by Fakhruddin Diwan, Chairman of the PUAEBC. The meeting featured prominent participation, including Ali Zaib, Commercial Counsellor at the Consulate General of Pakistan in Dubai, UAE, and key FPCCI leadership, including Adeel Siddiqui, Khurram Ijaz, Shabbir Hassan Mansha, and Executive Committee Member Ms. Sahibzadi Mahin…
Islamabad, Jan 30: Bank Alfalah has reported a consolidated profit-after-tax (PAT) of Rs39.9 billion for the year 2024, reflecting a 10% increase compared to Rs36.2 billion in 2023. The strong performance is driven by higher non-markup income, including a significant rise in commission income and substantial gains on securities. According to the financial results disclosed to the Pakistan Stock Exchange (PSX) on Thursday, the bank’s earnings per share (EPS) increased to Rs25.27, compared to Rs23.15 in 2023. Dividend Payout & Shareholder Returns The Board of Directors (BoD) of Bank Alfalah has announced a final cash dividend of Rs2.5 per share…
