Islamabad, Jan 10: Other Pakistani banks in the top ten list were the National Bank of Pakistan (NBP), offering a return of 108.4pc, Bank Alfalah Ltd (BAFL) 107.1pc and Bank of Punjab (BoP) 98.4pc. According to S&P Global Intelligence, four Pakistani banks have emerged as top performers among Asia-Pacific lenders in 2024. United Bank Limited (UBL) led the group with a remarkable stock return of 159.7%, placing it second in the rankings. Other Pakistani banks in the top 10 included the National Bank of Pakistan (108.4%), Bank Alfalah Limited (107.1%), and the Bank of Punjab (98.4%). The report highlighted that…
Author: Mawadat Fatima
Islamabad, Jan 9: Nissan has firmly denied rumors of a potential merger with Toyota, following recent speculation about consolidation in the Japanese automotive industry. Toyota Chairman Akio Toyoda addressed these rumors, stating, “Nissan did not approach Toyota about any mergers.” In contrast, Nissan and Honda have confirmed that they are in discussions regarding a potential merger. The proposed alliance aims to create the world’s third-largest automaker, positioning the combined entity as a formidable competitor in the global automotive market. Despite the absence of merger talks with Toyota, Toyoda expressed optimism about the Nissan-Honda collaboration, suggesting that increased competition could benefit…
Islamabad, Jan 9: Pakistan International Airlines (PIA) will see significant developments in its privatization this month after key events reshaped its trajectory. Supreme Court Clears Path for Privatization In December 2024, the Supreme Court of Pakistan dismissed a case that had previously barred the government from privatizing PIA without its approval. This decision has removed a substantial legal obstacle, enabling the government to proceed with the privatization process. Reforms to Facilitate Privatization However, Federal Minister for Privatization, Abdul Aleem Khan, announced reforms aimed at resolving longstanding issues to facilitate PIA privatization. These reforms include abolishing a significant tax on new…
Islamabad, Jan 9: At the Consumer Electronics Show (CES) 2025 in Las Vegas, Honda unveiled two groundbreaking electric vehicle (EV) prototypes: the Honda 0 Saloon and the Honda 0 SUV. These models represent the inaugural entries in Honda’s “0 Series,” a new line of battery electric vehicles set to launch globally in 2026. Honda 0 Saloon The Honda 0 Saloon is a sleek, low-profile sedan that combines sporty aesthetics with advanced technology. It features a spacious interior, offering more room than its exterior dimensions suggest. The vehicle is equipped with Honda’s proprietary ASIMO operating system, enabling Level 3 automated driving…
Islamabad, Jan 9: In a decisive move to enhance student safety and address environmental concerns, the Punjab government has mandated that all private schools provide dedicated bus services for their students. This directive, issued by the School Education Department, requires major private school chains to acquire buses within a 30-day period, with a compliance deadline set for January 13, 2025. Although This initiative aligns with the Lahore High Court’s recent directives aimed at mitigating smog and reducing traffic congestion. Justice Shahid Karim emphasized the urgency of implementing these measures, stating, “The issue of school buses is very serious,” and underscored…
Islamabad, Jan 9:During the 8th Japan-Pakistan High-Level Economic Dialogue (JPHLEPD) held in Tokyo, the Japanese government urged Pakistan to address several critical issues impacting bilateral economic relations. A primary concern highlighted by Japan was the import restrictions affecting Japanese automobile manufacturers operating in Pakistan. These restrictions have posed significant challenges to the automotive sector, hindering the import of essential manufacturing equipment and components necessary for production. In addition to the automotive sector concerns, Japan emphasized the importance of ensuring the safety of personnel involved in Official Development Assistance (ODA) projects within Pakistan. The Japanese delegation called for enhanced measures to…
Islamabad, Jan 9: In 2024, China automotive market witnessed a remarkable surge in electric and hybrid vehicle sales, with a 40.7% year-on-year increase, totaling nearly 11 million units. This significant growth underscores China’s leading role in the global transition towards sustainable transportation. New Energy Vehicles (NEVs), encompassing both electric and plug-in hybrid models, accounted for approximately 47.6% of all retail vehicle sales in China during 2024. This substantial market share reflects the effectiveness of government incentives and the increasing consumer preference for environmentally friendly vehicles. China Electric and Hybrid Vehicle Domestic manufacturers have been at the forefront of this expansion.…
Islamabad, Jan 9: The corporate sector contributed Rs3. 06 trillion in income tax during fiscal year 2023-24, according to a report issued by the Federal Board of Revenue (FBR). The FBR report revealed that corporate tax receipts led the way, followed by Rs1 In the fiscal year 2023-24 (FY24), Pakistan’s corporate sector achieved a significant milestone by contributing a record Rs. 3.061 trillion in income tax, according to the Federal Board of Revenue (FBR). This substantial contribution underscores the sector’s pivotal role in bolstering the nation’s economy and funding public services. The FBR’s data reveals that the corporate sector was the…
Islamabad, Jan 9: The federal government will present the 2025-26 budget in early June 2025. The Finance Division’s Budget Call Circular states that the Finance Minister will present the 2024-25 federal budget in Parliament during the same timeframe. The budget will likely be introduced in both the National Assembly and Senate on the same day. In the previous fiscal year, the government set an ambitious tax revenue target of 13 trillion rupees (approximately $47 billion) for the year starting July 1, aiming for a nearly 40% increase from the current year. This growth is crucial for securing a new IMF…
Islamabad, Jan 9: Dubai Islamic Bank Pakistan Limited has partnered with Nestlé Professional to offer customers a selection of hot beverages at its Wajaha- Priority Banking Lounge. This collaboration enables visitors to enjoy hot beverage of their choice, be it NESCAFÉ or traditional NESTEA Cardamom, Karak & Kashmiri chai creating a more pleasant and relaxing experience. Dubai Islamic Bank currently operates 12 Wajaha- Priority Banking Lounge across various cities, enhancing convenience and comfort for its valued clientele. The announcement was made during an MOU signing ceremony, attended by representatives of both organizations. The collaboration underscores a shared commitment to improving…
