Islamabad, Nov 18: Fauji Fertilizer Raises Offer Price for Agritech Shares. The offer price for purchasing up to 151 million common shares of Agritech Limited (PSX: AGL) has been raised by Fauji Fertilizer Company Ltd. (PSX: FFC) from Rs. 38.84 to Rs. 39.05 per share. In a notice to the Pakistan Stock Exchange (PSX) on Monday, the business stated that the offer price revision was due to the competitive bid made by Maple Leaf Cement Factory Ltd. (PSX: MLCF) through the public announcement of the public offer. Accordingly, the security’s value has grown from Rs. 5,867 million to Rs. 5,899…
Author: Iqra Khan
Islamabad, Nov 18: inDrive Launches Road Safety and Beautification Campaign in Karachi. InDrive, a world leader in urban services and mobility, has started a revolutionary road safety and beautification project in Karachi. This project seeks to improve the city’s aesthetics while raising awareness of traffic safety. In order to create a community that is safer and more conscious, this effort entails cleaning and adorning disregarded walls with colorful artwork that communicates important safety lessons. As part of its dedication to safety and community involvement, inDrive integrates important safety elements into its app in addition to concentrating on promoting road safety…
Islamabad, Nov 18: Telenor Microfinance Bank (TMB), operator of Pakistan’s leading digital financial services platform, easypaisa, has received US$10 million in equity investment from its shareholders, Telenor Group, and Ant Group, as easypaisa prepares to launch its digital retail banking operations in Pakistan, subject to regulatory approvals. This capital injection represents a pivotal step in the easy paisa’s ongoing digital transformation journey and reflects the strong confidence of both shareholders in the role the bank is playing in empowering a financially inclusive Pakistan. Sharing his thoughts on the recent developments. Irfan Wahab Khan, Chairman, Board of Directors, TMB / easypaisa,…
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…
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…
