Islamabad, Dec 3: Awwal Modaraba Management Company was purchased by Wasl Investment Finance from Pak-Brunei Investment Company. Awwal is in charge of First Prudential Modaraba, one of Pakistan’s first modarabas. Wasl benefits from this agreement as it works to finance electric vehicles and encourage sustainable development. Electric two-wheelers are becoming more popular in cities due to their low operating expenses, but the hefty initial cost is still a deterrent. Wasl provides easily accessible financing options in an effort to remedy this. Wasl CEO Faraz Zaidi stated, “This acquisition puts us in a position to lead Pakistan’s transition to sustainable transport.”…
Author: Iqra Khan
Islamabad, Dec 3: The Financial Times reports that OpenAI, the firm that created the well-known AI chatbot ChatGPT, is thinking about introducing ads to its platform. The company is investigating an ad-supported business model. But CFO Sarah Friar told the newspaper that she intends to exercise caution over the placement and timing of advertisements. Friar added in a later statement that while there aren’t any immediate plans to launch advertisements, the concept is being studied inside the organization. Additionally, the Financial Times report mentioned that Shivakumar Venkataraman, a former Google executive with substantial advertising experience, was recently hired by OpenAI.…
Islamabad, Dec 3: In the first five months of the 2024–25 fiscal year, Pakistan Railways earned over Rs. 33 billion, marking an excellent milestone. Consistent work, despite financial difficulties, has led to this accomplishment. Passenger and freight services generate more money than the original projections. When compared to the same period last year, when the department earned Rs. 29 billion, this year’s earnings represent a 14% growth, or an increase of Rs. 4 billion. Optimized revenue generation techniques and increased operational efficiency are the reasons for the improved performance. In 2023–24, the department achieved a record-breaking revenue of Rs. 88…
Islamabad, Dec 3: Finance Minister Muhammad Aurangzeb admitted on Monday that Pakistan is facing “hiccups” in implementing the $7 billion International Monetary Fund (IMF) programme but expressed the government’s commitment to fulfilling its obligations. The statement came during a briefing to the National Assembly Standing Committee on Finance, highlighting key challenges in meeting IMF conditions. The finance ministry disclosed multiple setbacks, including the failure to meet the target for debt maturity and delays in spending on health and education. The Federal Board of Revenue (FBR) also fell short of its three-month revenue target by Rs89 billion, exacerbating the tax collection…
Islamabad, Dec 3: M/s. Ghandhara Tyre and Rubber Company Limited (PSX: GTYR) has begun production activities in line with its regular schedule. The company announced this earlier today in a stock filing at the main exchange. Last Wednesday, November 27, 2024, to Monday, December 2, 2024, GTYR temporarily halted plant operations. “The Boiler will be shut down due to planned work on our utility line in the factory,” the business said in a statement at the time. GTYR is involved in the production and distribution of tires and tubes for motorbikes and cars.
Islamabad, Dec 3: Soon, schools in Islamabad will have more access to technology. Three hundred new Chromebooks have arrived, according to the Ministry of Federal Education and Professional Training. The primary and high schools in the Islamabad Capital Territory will receive these laptops, which are primarily intended for internet use and run Google’s Chrome operating system. With this delivery, 1,000 Chromebooks will now be distributed in total. According to ministry representatives, this is a significant step in their ongoing efforts to use technology to enhance education. Five hundred additional Chromebooks will be distributed to schools in the Islamabad Capital Territory…
Islamabad, Dec 3: According to proposals released by the Punjab government, 102 electric buses will be introduced in Rawalpindi. The project, which would cost Rs. 7 billion, intends to make the city’s public transit greener and less polluting. The 84-kilometer route that the electric buses will travel will cover ten important public transportation routes. The program has received Rs. 4.7 billion from the provincial government so far. It is anticipated that by reducing environmental pollution in the area, the project will greatly enhance air quality. In June, Bilal Akbar Khan, the transport minister for Punjab, affirmed that the e-bus service…
Islamabad, Dec 3: Muhammad Ibrahim, a 6-year-old martial arts sensation from Pakistan, broke the previous record of 40 bottle caps held by fellow Pakistani Muhammad Rashid by using a kick to unscrew 45 in a row. Ibrahim’s remarkable control, agility, and accuracy during the record-breaking performance occurred in Karachi, Sindh. In addition to surpassing Rashid’s prior record, his performance highlights Pakistan’s rising stature in the martial arts world and its remarkable athletic achievements. This momentous accomplishment further solidifies Pakistan’s standing as a country that produces exceptional talent in unusual sports, encouraging athletes and martial artists nationwide to strive for the…
Islamabad, Dec 3: The Federal Minister for Finance and Revenue, Senator Muhammad Aurangzeb, has directed the Competition Commission of Pakistan (CCP) to expedite its inquiries and investigations into cartelization and collusion practices. The Minister assured CCP of government’s complete support and resolve to discipline markets, promote best practices and foster competition. The Federal Minister visited the CCP head office today to receive a comprehensive briefing on the Commission’s performance. Chairman CCP, Dr. Kabir Ahmed Sidhu, briefed the Minister on ongoing inquiries, provided details of significant cases pending in courts, and outlined recent initiatives to strengthen the CCP. The briefing was…
Islamabad, Dec 2: The Foreign Office (FO) said Monday that Prime Minister Shehbaz Sharif will go to Riyadh on December 3–4 to attend the “One Water Summit”. Islamabad and Riyadh have a long history of fraternal ties and collaboration in a variety of fields, including trade, culture, economics, and defense. The prime minister will be in the Kingdom for the fifth time this year. “Through high-level political commitments, the Summit, a joint initiative of Saudi Arabia, France, Kazakhstan, and the World Bank, aims to promote global cooperation and a coherent international approach towards water resource management,” the statement said. According…
