Islamabad, Nov 1: UBL Submits Offer to Merge with Silkbank, Eyes Strategic Expansion United Bank Limited (PSX: UBL) has submitted an offer to Silkbank Limited (PSX: SILK) for the amalgamation of Silkbank with and into UBL pursuant to a scheme of amalgamation to be filed with And sanctioned by the SBP under Section 48 of the Banking Companies Ordinance, 1962 (Amalgamation). According to the stock filing, UBL has proposed to issue and distribute new UBL ordinary shares to Silkbank shareholders in exchange for the amalgamation. The offer and the Amalgamation are still pending approval from UBL’s shareholders and board of…
Author: Mawadat Fatima
Islamabad, Nov 1: Apply for Passport Online Pakistan Accessible Nationwide A significant policy shift has been announced by the Directorate General of Immigration and Passports, Enabling Pakistani nationals to apply for passports at any passport office across the country, regardless of their registered address. Simplifying the application procedure for applicants Especially those who might require services outside of their home jurisdictions—is the goal of this change to Rule 6 of the Passport Rules 2021. Following review by the Law Division, a proposal for this amendment was first sent to the Ministry of Interior. The Federal Cabinet-approved revised rule eliminates The…
Islamabad, Oct 31: The Pakistan Telecommunication Authority (PTA) has announced that the country’s internet services have been fully restored after months of sluggish connectivity. PTA spokesperson told bloom Pakistan that the fault in the Southeast Asia-Middle East-Western Europe 4 (SMW4) and Asia-Africa-Europe 1 (AAE-1) submarine cables has been rectified, resolving the internet slowdown. “The restoration of both cables has eliminated the 1750 Gbps shortfall, and internet services are now operating at full speed and capacity,” the spokesperson said. The PTA attributed the disruption to faults in the SMW4 and AAE-1 cables, which occurred in June and August, respectively. To enhance…
Islamabad, Oct 31: The Kingdom of Saudi Arabia (KSA) and Pakistan have expanded their collaboration to $2.8 billion With the addition of seven new Memoranda of Understanding (MoUs) to the 27 previously signed earlier this month. Bringing the total value of the Kingdom of Saudi Arabia’s (KSA) and Pakistan’s cooperation to $2.8 billion. KSA’s Minister of Investment, Sheikh Khalid Bin Abdul Aziz Al Faleh, provided this update on Wednesday, saying, “I am pleased to announce that the total number of MoUs has now reached 34.” Prime Minister Shehbaz Sharif and Mohammad Bin Mazyad Al-Tuwaijri, an advisor to the Saudi Royal…
Islamabad, Oct 31: New MacBook Pro 14″ and 16″ Are Here With M4 Chips and More The tech giant unveiled its eagerly awaited MacBook Pro series, which is powered new M4 CPU family, as the most recent highlight of its “week of Mac.” In addition to offering three different chip variants The standard M4, the previously announced M4 Pro (originally seen in the Mac mini), The powerful M4 Max, built for people who require even more processing power—the updated laptops retain their well-known 14-inch and 16-inch form sizes. Both models have Liquid Retina XDR technology, and the display characteristics are…
Islamabad, Oct 31: To assist worthy households across the province, Punjab Chief Minister (CM) Maryam Nawaz has announced the launch of minority welfare cards. Speaking at a Diwali celebration event in Lahore, Chief Minister Maryam Nawaz described the minority community as “a crown on her head” and emphasized her profound affection and dedication to their well-being. Chief Minister declared that on December 20, The Punjab government would begin issuing minority welfare cards to qualified families throughout the state. In addition to wishing the Hindu community a happy Diwali, CM Maryam Nawaz promised to give Rs 150,000 to each of the 1,400…
Islamabad, Oct 31: Govt to Launch New Package Next Month to Revive Construction Industry According to insiders, the package is pending clearance from the International Monetary Fund (IMF), but it has been decided that a tax amnesty would not be part of it. According to sources, the emphasis will be on providing specific amenities, such as reduced map fees, incentives for multi-story buildings, and potential exemptions for third-floor additions on existing two-story buildings and rooftop rooms. The package also aims to support financing for affordable housing projects, sources added. The government’s decision to launch a new package next month to…
Islamabad, Oct 31: Samsung May Drop Galaxy Brand for New Premium Smartphones Amidst iPhone Competition Samsung is considering dropping the recognizable Galaxy brand name, which has been used to identify its cellphones since 2009. According to industry sources, the corporation may be rebranding as part of its plan to establish a new identity in the market. This disclosure comes amid recent financial turmoil in Samsung’s semiconductor division, Customers and shareholders are concerned about the sharp decline in Samsung’s chip manufacturing business, which was revealed in the company’s most recent financial report. Samsung’s leadership responded in a way never seen before…
Islamabad, Oct 31: Pakistan Fiscal Surplus Based on data from the previous two decades, Pakistan recorded a primary surplus of Rs. 3 trillion, or 2.4 percent of GDP, and a fiscal surplus of Rs. 1.7 trillion, or 1.4 percent of GDP, in 1QFY25. Arif Habib Limited claims that this is the first budget surplus since the second quarter of FY04. Additionally, the Rs. 3 trillion primary surplus is the biggest one ever recorded. Pakistan Fiscal Surplus Due in major part to a 13 percent decrease in domestic markup servicing brought on by falling interest rates, markup payments decreased by 5% year…
Islamabad, Oct 31: Honor has doubled down with two flagship launches this year in response to the speed at which technology is developing. Following the January launch of the Magic 6 series, the firm is now revealing the Honor Magic 7 series, which offers cutting-edge hardware improvements in a number of areas, including a more potent chipset, bigger batteries, quicker charging times, and improved durability. Design and Display The Pro’s 6.8″ LTPO OLED screen has a remarkable HDR brightness of up to 5,000 nits, a smooth refresh rate of 1-120 Hz, and a resolution of 1,280 x 2,800 pixels. The…
