In 2024, on July 16 and 17, the federal administration has announced a two-day vacation to commemorate Ashura, which falls on the ninth and tenth of Muharram.”The Prime Minister is pleased to declare 16th and 17th July 2024 (Tuesday and Wednesday) as public holidays on the occasion of Ashura (9th & 10th Moharram 1446 AH),” the Cabinet Division said in a notification on Tuesday.To protect public safety, however, the provincial governments have implemented stringent security measures. Prior to Ashura, Punjab enforced pillion riding throughout the province.In addition, the Sindh government banned pillion riding on Muharram 9 and 10 in order…
Author: Iqra Khan
The leadership in the stock market just underwent a significant change. Apple has surpassed Microsoft to become the most valuable computer company in the world following a month of market volatility, in part because of a recent increase in share price backed by research firm Wedbush. This triumph follows a similar upset from last month, when NVIDIA briefly overtook Apple and Microsoft to take the top slot. However, NVIDIA’s hegemony was short-lived due to impulsive investor moves, most likely prompted by anticipation of the forthcoming summer holidays and earnings announcements. NVIDIA is currently firmly positioned in third place, while Apple…
Microsoft is forcing its Chinese workers to transition to iPhones for business reasons as part of a shift that prioritizes cybersecurity. With effect from September 2024, this new policy will no longer allow Android devices in the workplace in an effort to increase security.Because the operating system is less susceptible to security lapses, Microsoft believes that iPhones are intrinsically safer, according to a Bloomberg article that cites an internal paper. Chinese employees who presently own Android phones including well-known regional brands like Xiaomi and Huawei will have the option to trade them in for an iPhone 15 on a one-time…
This week, Finance Minister Muhammad Aurangzeb will visit China to negotiate a restructure of the country’s $15.4 billion energy debt. He would be accompanied by Planning Minister Ahsan Iqbal as well, Since Prime Minister Shehbaz Sharif has made the “re-profiling” of debt due to Chinese Independent Power Producers (IPPs) a top priority, the visit by the finance minister was scheduled with little notice.The administration intends to extend the grace period for loan repayment, which could lower foreign exchange outflows to $750 million per year. Pakistan requests a five-year reprieve from China on its energy debt. With this prolongation, the total…
The Provincial Development Working Party (PDWP) approved the plan of the Chief Minister to install solar power systems for agricultural tubewells throughout the province, during its meeting on Monday, It is anticipated that this project will cost about Rs. 9 billion. The council, presided over by Barrister Nabeel Awan, also authorized seven other development projects totaling more over Rs. 24 billion. One of the authorized initiatives is a project for an estimated Rs. 848.97 million that aims to prevent erosion on the left bank of the River Chenab in the Hafizabad district, notably at Kot Kameer and Behak Ahmad Yar.…
In response to allegations that its country manager in Bahrain had taken luggage belonging to passengers, Pakistan International Airlines (PIA) has provided clarification on the matter. According to the Pakistani embassy in Bahrain, there was a miscommunication involved in the event. According to a PIA representative, the airline does not maintain an office in Bahrain Airport. As a result, unclaimed luggage are moved to the city’s PIA central office. After that, the owners of these bags receive them. The spokeswoman clarified that the problem stemmed from the absence of an office at the airport and that there was no illegal…
The proposal put out by President Asif Ali Zardari aims to create a state land bank that will use government-owned land to attract investment from foreign financial institutions and PSX. Zardari stressed during a meeting at Aiwan-e-Sadr how urgently the Kachhi Canal project needed to be completed within 1.5 years. Balochistan’s 713,000 acres of land are to be irrigated by this project, and the federal government has promised to supply the funds required to finish it on schedule. The GPI’s six strategic canal projects were also considered at the meeting. The construction of these canals is anticipated to greatly increase…
DealCart, a Pakistani social e-commerce firm, declared the successful completion of a $3 million early investment round. Leading the round were the UK-based Sturgeon Capital and the MENA-based Shorooq Partners. According to the release, 500 Global, Evolution VC, Rayn Capital, and Khyber Venture Partners were also involved in the investment round.The startup stated that this capital infusion will support DealCart’s mission to broaden its reach and offer reasonably priced essential goods to low- and middle-income consumers throughout Pakistan. DealCart plans to offer low-cost goods by partnering with locally manufactured brands and sourcing products directly from manufacturers. DealCart was founded by…
Over the previous year, Pakistan’s energy sector has made substantial development, according to the Special Investment Facilitation Council (SIFC). The creation of an Anti-Theft Task Force, which has recovered almost 95 billion rupees, and the application of cyclical debt management techniques are notable accomplishments. Successful solar energy installations have been established in Sukkur (150 MW) and Gilgit-Baltistan (1 MW). Two hydropower projects that would contribute 70 MW to the national grid in Azad Jammu and Kashmir have received financing from the Saudi Fund for Development. The development of the sector is greatly aided by foreign investments. Sinotec Solar, a Chinese…
The top residential and commercial real estate business in Pakistan, Empire Holding Pakistan, with its headquarters in Lahore, and Reportage Properties, the top real estate developer in the United Arab Emirates, have joined forces to establish a joint venture in the rapidly expanding Pakistani real estate sector. The signing ceremony was held on Sunday, June 30, 2024, at the Yas Hilton Hotel in Abu Dhabi, as part of a special event hosted by Reportage Properties on the fringes of a special sales day.Reportage Properties’ managing director Andrea Nucera and Empire Holding Pakistan’s managing director Faisal Iftikhar inked the contract. A…
