Islamabad, Dec 19: The Pakistani rupee (PKR) experienced a brief recovery on Wednesday but failed to sustain its momentum, depreciating against the US dollar (USD) again on Thursday. By the end of the day, the PKR stood at 278.35, down Rs. 0.13, or 0.04 percent, from its previous closing of 278.23. The decline in the PKR comes amid global market trends, with the Federal Reserve’s decision to scale back its 2025 rate cut projections negatively impacting most Asian currencies. The Korean won hit a 15-year low, and the Indonesian rupiah also fell to a four-month low. On the domestic front,…
Author: Iqra Khan
Islamabad, Dec 19: The Sindh government has declared December 27 as a public holiday to observe the death anniversary of former Prime Minister Benazir Bhutto, the first woman to lead a Muslim-majority country. The Pakistan Peoples Party (PPP), which is led by Bhutto’s family, will hold various events across the country to honor her legacy and recognize her significant contributions to Pakistan’s political and social development. This announcement follows the earlier declaration of December 25 as a public holiday in commemoration of Quaid-e-Azam Muhammad Ali Jinnah’s birth anniversary. Additionally, the provincial government has also granted a holiday on December 26…
Islamabad, Dec 19: Treet Battery Limited announced today that its Board of Directors has approved a strategic plan to convert a significant portion of its debt into company shares, a move designed to reduce borrowing and lower financing costs. The plan, which is subject to shareholder and regulatory approval, involves converting approximately Rs. 2 billion of inter-company debt owed to Treet Corporation Limited (TCL) into 200,316,630 ordinary shares of Treet Battery. This will be done by issuing new shares to TCL, bypassing the need for a rights offering. In addition, the Board has also approved a proposal to increase the…
Islamabad, Dec 19: The Nuclear Medicine Oncology and Radiotherapy Institute (NORI) has taken a significant step in enhancing cancer care by acquiring a cutting-edge cyclotron worth Rs. 1.5 billion. This advanced technology facilitates the production of Gallium 68 isotopes, critical for positron emission tomography (PET) scans, now accessible to cancer patients within a 200-kilometer radius of Islamabad. Previously, such isotopes were only available in Lahore, creating logistical challenges for patients in northern regions due to the isotopes’ short half-life. During a media briefing, NORI Director Dr. Muhammad Faheem emphasized the transformative impact of this development. He explained that PET scans,…
Islamabad, Dec 19: The Public Accounts Committee (PAC) of the Sindh Assembly has called for urgent intervention by the provincial government to address the peril posed by over 570 buildings deemed dangerous across Karachi and other cities in Sindh. During a meeting chaired by Nisar Ahmed Khuhro, PAC members expressed concern over the Sindh Building Control Authority’s (SBCA) inability to enforce evacuations, despite the imminent risk to residents’ lives. The SBCA revealed that numerous residents continue to occupy these hazardous structures, citing the lack of alternative accommodations as a significant obstacle to evacuation efforts. The PAC directed the chief secretary…
Islamabad, Dec 19: Xiaomi is gearing up for the launch of its flagship 15 Ultra, the latest addition to its highly anticipated lineup, following the Xiaomi 15 and 15 Pro. Recent reports from MySmartPrice indicate that the device has been certified in China under the model number 25019PNF3C, hinting that its release is just around the corner. This certification points to the inclusion of cutting-edge technology that promises to make the 15 Ultra a standout product. One of the most exciting features of the Xiaomi 15 Ultra is its support for satellite connectivity. However, this functionality is expected to remain…
Islamabad, Dec 19: The PTA outlined substantial progress in Pakistan’s telecom and digital infrastructure over the past fiscal year. Key achievements include. Subscriber Milestone: Broadband subscriptions reached 142.3 million, marking a 91% increase over the past five years, with a penetration rate of 58.4%. Of the 55,777 operational cell sites, 95.5% support 4G technology. National Fiberization Plan: Implemented to enhance connectivity and prepare for the 5G ecosystem, set for rollout by mid-2025. 6GHz Spectrum Band: Introduced for unlicensed use, making Pakistan the 10th Asian nation to adopt next-gen Wi-Fi technology. Three-Factor Authentication, Introduced measures like a Multi-Finger Biometric Verification System…
Islamabad, Dec 18: Chairman Capital Development Authority (CDA), Muhammad Ali Randhawa made a visit to the Jinnah Avenue F-8 Interchange project early Wednesday morning. He conducted a detailed review of the project’s progress so far and also inspected the ongoing construction activities. The relevant CDA Members, consultants and other relevant officers accompanied him during the visit. During the visit, Chairman CDA Muhammad Ali Randhawa directed that work on the flyover and underpass should continue simultaneously, emphasizing the need to complete the project within the record stipulated time. He stated that CDA would set a new benchmark with rapid completion of…
Islamabad, Dec 18: The government is set to impose stricter measures on non-filers with the introduction of the Revenue Amendment Bill 2024. Key provisions of the bill, presented by Finance Minister Muhammad Aurangzeb, include: Restrictions for Non-Filers: Vehicle Purchases: Non-filers will be prohibited from buying vehicles over 800cc. Property Transactions: Non-filers will face restrictions on purchasing or transferring property above a certain value. Banking: Non-filers will be unable to open bank accounts or conduct banking transactions beyond a specified limit. Stock Market: They will also be restricted from purchasing shares above a certain threshold. However, they will still be allowed…
Islamabad, Dec 18: Honda and Nissan, two of Japan’s leading automakers, are reportedly exploring a collaboration to address mounting competition from both global and local rivals. The potential partnership is focused on pooling resources and concentrating efforts on emerging battery-centric mobility technologies as the automotive industry undergoes a major transformation. The discussions are still in the early stages, with the companies considering the creation of a joint umbrella organization to facilitate closer cooperation. Although it remains uncertain whether the talks will lead to a full merger, the collaboration could significantly enhance their capabilities in the rapidly growing electric vehicle (EV)…
