Islamabad, Feb 21: Zong 4G, one of Pakistan’s leading digital connectivity providers, recently hosted a delegation from the National Institute of Public Administration (NIPA), Islamabad, as part of the Local Visit – Field Research (LV-FR) segment of the 37th Senior Management Course (SMC). The visit aimed to offer senior civil officers a firsthand look into the private sector’s operational framework, policy development, and role in shaping Pakistan’s digital ecosystem. Led by Ms. Samreen Zahara, DG SMC, Chief Instructor-SMC, the delegation engaged with Zong 4G’s CEO, Huo Junli, and Executive Director of Corporate Affairs, Syed Naveed Akhtar. During the visit, participants…
Author: Iqra Khan
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Islamabad, Feb 21: The Securities and Exchange Commission of Pakistan (SECP) has introduced four draft guidelines aimed at improving regulatory clarity and corporate governance for unlisted companies. These guidelines cover Capital Issue, Employee Stock Option Schemes (ESOS), Stock Splits, and the Submission of Applications for Registration and Renewal as an Intermediary. According to an SECP statement, these guidelines were developed in response to frequent stakeholder queries and challenges faced by businesses. They are designed to assist unlisted companies in raising capital, structuring employee incentives, and managing capital restructuring through stock splits. The initiative aligns with SECP’s broader goal of enhancing…
Islamabad, Feb 21: The 17th meeting of the Governing Body of the ICT Employees Social Security Institution (IESSI) was held on Friday at the CDA Headquarters, chaired by the Chairman CDA and Chief Commissioner Islamabad, Muhammad Ali Randhawa. The meeting was attended by members of the Governing Body, including ICT administration, Commissioner Social Security and other senior officials. Various agenda items were discussed during the 17th meeting of the Governing Body of the ICT Employees Social Security Institution. The Commissioner of Social Security briefed the meeting on various agenda items. According to the details, the meeting approved amendments to the…
Islamabad, Feb 21: Standard Chartered Bank Pakistan Limited (SCBPL) has reported a record-breaking profit before tax of PKR 100.6 billion, marking a 13% year-on-year (YoY) growth in 2024. The bank’s exceptional performance was fueled by strong income growth of 9% YoY, with positive contributions from all business segments. Despite operating in a high-inflation environment, the bank effectively controlled expenses, achieving the industry’s lowest cost-to-income ratio of 19%. A prudent risk management strategy and recoveries of bad debts resulted in a net impairment reversal of PKR 4.9 billion, further strengthening the bank’s financial position. On the liabilities front, total deposits reached…
Islamabad, Feb 21: The Pakistan Stock Exchange (PSX) 100-Index closed the week on a bearish note, shedding 938.23 points (-0.82%) to settle at 112,800.93 points, down from 113,739.16 points in the previous session. Despite a strong start, profit-taking in the latter half of the session erased early gains, as investors locked in profits ahead of the weekend. According to Topline Securities, initial optimism was driven by Lucky Cement (LUCK) after the company announced a 5-for-1 stock split, fueling early gains. However, selling pressure emerged as the session progressed, with investors focusing on quarterly earnings results. The market saw a significant…
Islamabad, Feb 21: Microsoft, in collaboration with Teachable AI Experiences and Ninja Theory, has launched Muse, an advanced AI tool designed to revolutionize game development. Developed by Xbox Game Studios’ Ninja Theory, Muse aims to accelerate the creation of in-game visuals and player interactions, leveraging a deep 3D understanding of game environments. To achieve this, Muse underwent extensive training on 1.6 billion parameters, 1 billion images, and 1 billion controller actions, equivalent to seven years of continuous human gameplay. The data was sourced from Ninja Theory’s multiplayer action game, Bleeding Edge, with user-consented gameplay inputs serving as a foundation. The…
Islamabad, Feb 21: Police have registered three cases under the Prevention of Electronic Crimes Act (Peca) 2025 against individuals accused of sharing AI-generated deepfake videos and defamatory content targeting Punjab Chief Minister Maryam Nawaz and state institutions. The cases, filed at Shahdara, Shahdara Town, and Kot Lakhpat police stations, invoke multiple sections of the Pakistan Penal Code (PPC), including 500, 504, and 505-1(C). The FIRs were lodged by local citizens and businessmen, though authorities have yet to make any arrests. According to the Shahdara Town FIR, complainant Mohammad Amir accused an individual, Rana Mohammad Dawood, of uploading an AI-generated immoral…
Islamabad, Feb 21: The 13th Lahore Literary Festival (LLF) has officially begun at the Lahore Arts Council, Alhamra, bringing together a distinguished gathering of literary and artistic minds for a three-day celebration of literature, history, and civilisation. The event, known for its rich intellectual discourse and cultural vibrancy, was inaugurated in the presence of LLF Chairman Iqbal Z. Ahmed, LLF CEO Razi Ahmed, Punjab Minister for Information and Culture Azma Bukhari, British Council Director James Hampson, UNESCO Officer-in-Charge in Pakistan Karahang Anthony Tom, and Alhamra Executive Director Tauqeer Haider Kazmi, among others. A significant highlight of the festival’s opening ceremony…
Islamabad, Feb 21: Inflation in Pakistan continued its upward trend as the Sensitive Price Indicator (SPI) recorded a 0.27% increase for the combined consumption groups during the week ending February 20, according to the Pakistan Bureau of Statistics (PBS). The SPI stood at 319.12 points, compared to 318.26 points the previous week, reflecting ongoing price fluctuations in essential commodities. On a year-on-year basis, inflation for the same period marked a 1.21% rise, highlighting persistent economic pressures on consumers. The SPI, which tracks weekly price movements in 17 urban centers across 51 essential items, revealed mixed trends across different income groups.…
Islamabad, Feb 21: In a surprising move, Wyoming-based entrepreneur Reid Rasner has made a $50 billion bid to acquire TikTok’s U.S. operations from its Chinese parent company, ByteDance, according to The New York Post. The proposed acquisition would give Rasner control over TikTok’s assets, operations, and proprietary algorithm, positioning him as a key player in one of the world’s most influential social media platforms. Economic Vision for Wyoming If successful, Rasner plans to relocate TikTok’s U.S. operations to Wyoming, a move he believes would diversify the state’s economy and create thousands of well-paying jobs. His lawyer, Steve Roberts, emphasized that…
