Islamabad, Nov 18: TikTok’s Chinese Parent Company Valued at $300 Billion. According to a recent Wall Street Journal article, TikTok’s parent firm, ByteDance, recently repurchased $300 billion worth of shares. This price is in line with a prior buyback offer that was publicized by the Wall Street Journal in September 2022. This is a recovery for the business, though, since only a year ago its valuation was said to have fallen 26% to $223 billion. With Donald Trump re-elected, TikTok’s prospects in the US seem more promising. Trump pushed for the app to be banned during his previous administration. He…
Author: Iqra Khan
Islamabad, Nov 18: SECP Hosts Inaugural Meeting of Islamic Capital Market Development Committee. The newly formed Islamic Capital Market Development Committee (ICMDC), which was called by the Securities and Exchange Commission of Pakistan (SECP), met for the first time to foster the expansion, creativity, and robustness of Pakistan’s Islamic capital markets. The group, which is led by Dr. Irum Saba, an associate professor at IBA, is made up of representatives from financial institutions, market participants, Shariah scholars, and industry specialists. In view of the recent constitutional reforms, Commissioner (SECP) Mujtaba Ahmed Lodhi welcomed the Committee members and reiterated SECP’s dedication…
Islamabad, Nov 18: ADB Delegation Presents Planned Projects to Minister for Pakistan’s Development. Senator Muhammad Aurangzeb, the Federal Minister for Finance, was visited by a group from the Asian Development Bank (ADB) headed by Senior Director Tariq H. Niazi in the Finance Division. Niazi gave the Minister an update on ADB’s public sector management and governance initiatives, which are intended to ensure better macro-fiscal management and efficient governance with enhanced policy framework and institutional capacities in the Bank’s developing member countries. Emma Fan, the Country Director of ADB, and her team were also present at the meeting in Pakistan. With…
Islamabad, Nov 18: Govt Hires 12 Consultants at Rs. 2 Million Salary After Dismissing Clerks. The Prime Minister has approved the appointment of more than a dozen consultants (Management Pay Scales and Special Professional Pay Scales) with monthly compensation packages up to Rs. 2 million, amid proposals for austerity measures that include a 60% reduction in clerical staff and the elimination of open positions to reduce the rising costs. According to the paper, the PM has authorized the hiring of more than a dozen experts, whose monthly compensation packages range from Rs. 305,502 to Rs. 2 million. Under the Ministry…
Islamabad, Nov 18: ZONG 4G Unveils Special Yatra Packages for Sikh Pilgrims. Zong 4G, Pakistan’s top telecom provider, has unveiled a special range of connectivity packages created especially to support and link the Sikh community during their holy pilgrimage, which draws Sikh pilgrims from all over the world to Pakistan for the holy Sikh Yatra. Zong 4G’s Yatra Packages are carefully crafted to accommodate Sikh pilgrims’ requirements while offering global access. A news release claims that the 30-day Yatra Bundle, which costs Rs 3,000 (including the SIM card) and includes 200 international minutes for calls to the USA, Canada, UK,…
Islamabad, Nov 18: PM Expresses Satisfaction Over Economic Stability and Investment Growth. On Monday, Prime Minister Muhammad Shehbaz Sharif declared that the nation’s economy was headed toward stability and that the stock market was doing well as a result of the actions taken in this direction. He claimed that confidence in the government’s programs was reflected in international investment. According to a news statement from the PM Office Media Wing, the prime minister was briefed by the Ministry of Finance on the state of the nation’s economy and the meeting with the IMF delegation. PM is pleased with the investment…
Islamabad, Nov 18: Roshan Digital Account Inflows Surpass $200 Million in October 2024. Gross foreign exchange inflows through the Roshan Digital Accounts (RDAs) totaled $204 million, up from $168 million the month before. In contrast to the previous six-month average of $173 million and the average of $146 million from its inception in September 2020, net inflows (gross inflow less money repatriated) under RDA totaled $192 million in October 2024. By the end of October 2024, the total amount of RDA money collected to date had risen to $8.953 billion. $5.686 billion has been used domestically, while $1.674 billion has…
Islamabad, Nov 18: Punjab Proposes “Mist Fans” to Combat Smog Crisis. To reduce haze, the Faisalabad Think Tank has suggested working with the business sector to put mist fans on electric polls along the Rakh Branch Canal. The former vice president of the Faisalabad Chamber of Commerce & Industry (FCCI), engineer Ahmad Hassan, voiced concern that smog has interfered with everyday life for a number of years during the winter months, but no concrete plan to reduce it has emerged. According to him, the government attempted to control it by using expensive artificial rain, but this was not a long-term…
Islamabad, Nov 18: PTA Grants Two-Week Deadline for VPN Registration to Enhance Security Compliance. The Pakistan Telecommunication Authority (PTA) has decided to give a two-week grace period for the registration of unregistered VPNs. According to PTA sources, this decision was taken in a review meeting of the PTA to implement the directive of the Ministry of Interior to close unregistered VPNs. Sources say that in the meeting, it has been decided to give a grace period till November 30 for the registration of unregistered VPNs, after which a crackdown against unregistered VPNs will be started from December. A trial regarding…
Islamabad, Nov 18: Ahsan Underscores Climate Change, Energy, and Food Security in US-Pakistan Partnership. Speaking on Monday about future collaboration between Pakistan and the United States, Professor Ahsan Iqbal, Minister for Planning, Development, and Special Initiatives, emphasized the significance of tackling global issues like food security, energy sustainability, and climate change. Speaking at a USAID-hosted ceremony commemorating the US’s long-standing assistance to Pakistan in infrastructure development, he urged cooperation in research on sustainable agriculture, renewable energy, and contemporary infrastructure to create a more resilient future.According to a news release, he also emphasized the importance of interacting with the thriving Pakistani…
