Islamabad, Dec 4: The merging of Silkbank (PSX: SILK) with United Bank Limited (PSX: UBL) has been accepted by the banks’ board of directors. This means that all of Silkbank’s operations will be combined through a share swap arrangement with UBL. Silkbank’s completion of the Amalgamation Agreement, Amalgamation Scheme, and other supporting papers for the proposed amalgamation. In exchange for 325 already-issued shares of the Bank, each with a face value of PKR 10/-, one (1) new ordinary share of UBL with a face value of PKR 10/-, 27,944,188 ordinary shares of UBL other than rights issues were issued. The…
Author: Iqra Khan
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Islamabad, Dec 3: Pakistan Refinery Limited (PSX: PRL) made it clear on Wednesday that it has not committed to importing crude oil from Russia and has not entered into any agreements. PRL responded to recent news reports indicating that it has agreed to import Russian crude oil at discounted prices in a notice to the Pakistan Stock Exchange (PSX). It further stated, “We are still dedicated to openness and will notify our stakeholders of any updates directly through our official channels.” Musadik Malik, the minister of petroleum, also made it clear on Wednesday that no contract has been signed for…
Islamabad, Dec 3: Microsoft has increased its attempts to get customers to migrate to Windows 11 as the end-of-life date for Windows 10 draws near in October 2025. Nonetheless, a lot of people still install Windows 11 on machines that don’t fit the system specifications. Microsoft has now explicitly warned consumers who are running Windows 11 on unsupported hardware of this. Windows 11 will alert users to compatibility problems by displaying a watermark if a computer does not satisfy the minimal requirements. The hazards are explained in a new notice on Microsoft’s support page: The minimum system requirements for Windows…
Islamabad, Dec 3: The Punjab Treasury Department’s announcement that annual pension increases for public servants will no longer be granted is expected to greatly impact retirees. This move, which Secretary of Finance Mujahid Sher Dil formally announced, affects three pension groups that were previously eligible for annual increases. Pension increases approved by memoranda in 2011, 2015, and 2022 will no longer be applicable to retirees as of right now. In particular, the 2015 circular’s paragraph 1 pension increase, the 2011 circular’s paragraph 2 pension increase, and the 2022 Finance Department letter’s paragraph 1 pension increase have all been withdrawn. In…
Islamabad, Dec 3: According to a recent research by the Academy of Research, Pakistan is currently experiencing a serious housing crisis, with families and individuals facing a scarcity of nearly 2.1 million dwellings to live in. According to the study, almost 38.3 million individuals in the nation lack access to suitable housing. Among these, 2.52 million people are looking for housing in cities. The survey also shows that 10 million families live in subpar housing, and almost 13 million individuals live in overcrowded situations. The study found that the most severe and complex housing shortages are seen in cities like…
Islamabad, Dec 3: According to a recent Korean story, Samsung will present its eagerly anticipated XR (Extended Reality) glasses in prototype form at the Galaxy S25 launch event in January 2025. But it won’t be possible to buy these spectacles right away. Like the Galaxy Ring preview at Unpacked earlier this year, the firm will present them in a teaser style, most likely through a picture or video. Although they won’t be available for purchase during the event, industry sources indicate that the finished XR glasses could be released in the third quarter of 2025, most likely between July and…
Islamabad, Dec 3: Rescue 1122 held a training session at the Central Station Chowk Kumharanwala as part of the Chief Minister’s Internship Program. Under the direction of District Emergency Officer Dr. Hussain Mian, the training for the Pakistan Lifesaving Program officially began during the session. According to government sources, students from different colleges will get practical first aid training as part of this internship program. Comprehensive instruction in emergency response methods, personal safety precautions, and the use of cutting-edge medical equipment are all included in the program. Cardiopulmonary resuscitation (CPR) for cardiac and respiratory arrest, methods to reduce blood loss…
Islamabad, Dec 3: The esteemed UN Women 2024 Asia-Pacific Women’s Empowerment Principles (WEPs) Award in the Leadership Commitment category has been given to Khurrum Ashfaque, CEO of Telenor Pakistan. This recognition demonstrates his unwavering commitment to creating an inclusive and gender-equal workplace atmosphere. Telenor Pakistan effectively executed a comprehensive range of Diversity, Equity, and Inclusion (DEI) activities that align with the organization’s strategic goals under the direction of Khurrum Ashfaque. To boost female representation throughout the company, notable initiatives including “Parvaaz” for female sales trainees and “Naya Aghaaz” for returning female professionals were implemented. Furthermore, customized programs such as “EmpowHer…
Islamabad, Dec 3: At the Huawei Partner Connect event during GITEX 2024 in Dubai, DWP Technologies, the premier technology specialist in Pakistan and a member of the DWP Group, received the coveted Data Center Technologies Integration Recognition Award. This prestigious award highlighted DWP Technologies’ outstanding capacity to develop and provide cutting-edge hybrid green data center systems that satisfy clients’ demanding needs for high-performance computing and advanced artificial intelligence. It demonstrated DWP Technologies’ steadfast dedication to project execution. Technological know-how, and innovation. DWP Technologies has established itself as a reliable partner in the technology industry and a leader in partnership with…
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.”…
