Islamabad, Sep 12: The Competition Commission of Pakistan (CCP) has granted approval for the merger between M/s. DWP Engineering Industries (Private) Limited and M/s. Digital World Pakistan (Private) Limited, as per the Scheme of Arrangement. The CCP conducted a Phase I competition assessment, reviewing the business activities of both entities. DWP Engineering Industries is a private limited company incorporated in Pakistan, specializing in the manufacturing and sale of various interrelated consumer electronics and home appliances. Similarly, Digital World Pakistan is a private limited company engaged in the same line of business. The CCP’s assessment identified the relevant product market as…
Author: Mawadat Fatima
Islamabad, Sep 12: The State Bank of Pakistan (SBP) announced on Thursday that it has decreased the interest rate by 200 basis points to 17.5 percent, effective September 13, 2024. SBP announced the declaration during a meeting of the bank’s Monetary Policy Committee (MPC) through an official press release. This choice goes above and beyond what the market anticipated. This time, as in earlier monetary policy statements, inflation was a major factor in lessening the financial strain of the benchmark lending rate. The policy rate has decreased for the second time in the current fiscal year and for the third…
Islamabad, Sep 12: SBP Clarifies New Banknote Designs. the State Bank of Pakistan (SBP) Thursday issued a clarification regarding the results of the Art Competition for thematic design ideas of a new banknote series. According to the central bank, the new currency series’ design process was started in January of this year. The purpose of the art competition was to support regional artists and involve the public in the design process in accordance with global best practices. The winning pieces from this competition were revealed on September 5 after a panel of well-known artists assessed the artwork that the local artists…
Islamabad, Sep 12: Fans from all over the world watched as Denmark and Serbia battled it out in an exciting exhibition of football skill. The eagerly awaited match, which was characterized by fierce rivalry and astounding skill, featured the greatest players from both sides competing for supremacy on the field. Denmark vs. Serbia was a battle of skill and footballing ideologies more than just a game. Denmark, a team renowned for its methodical and tactical style of play, faced Serbia, a team with an abundance of talent and offensive ability. The game, which was played in a full stadium, was…
Islamabad, Sep 12: Saudi Ministry Photography Masjid al-Haram as the Grand Mosque in Mecca welcomes an increasing number of Muslims for Umrah, pilgrims are reminded of the regulations around photography at the holy site by the Ministry of Hajj and Umrah. Although a lot of pilgrims want to take pictures to remember their trip, officials advise believers to be considerate of other people and not cause trouble. The ministry has stressed that travelers should snap pictures fast and not take pictures of people praying or without their consent. Additionally, it cautioned against waiting too long to snap photos in order…
Islamabad, Sep 12: Government pensions increase the Finance Ministry is likely to abandon the one-time pension hike for retired civil personnel and instead raise them by 80% over the next two years in accordance with the rate of According to sources, the Ministry of Finance is choosing a new system that links increases in pension benefits to inflation. The administration hopes to lessen the mounting pension burden on the treasury with the proposed approach. For the current fiscal year, the government has set aside Rs. 1,014 billion for pensions. The Finance Ministry increased pension payments to retired personnel by a…
Islamabad, Sep 12: Brokerage house Arif Habib Limited (AHL) noted in a brief statement today that there has been a considerable reduction in KIBOR rates since the last Monetary Policy Committee (MPC) meeting in July 2024. The 3M, 6M, and 12M rates have dropped by 171bps, 173bps, and 131bps, respectively. According to AHL, the spread between the policy rate and KIBOR is currently -231bps (12M), -193bps (6M), and -183bps (3M). The spread was previously +45bps for 3M, +55bps for 6M, and +71bps for 12M, with KIBOR being higher than the policy rate, according to a 5-year historical average. According to…
Islamabad, Sep 12: Punjab’s Chief Minister Maryam Nawaz has implemented a sweeping ban on social media use for on-duty police officers. The prohibition extends to popular platforms such as TikTok, Facebook, Instagram, etc. This prompt response comes after a slew of events in which videos of female staff members and Punjabi police officers went viral on social media. The Punjab Police Inspector General (IG) has released a thorough social media usage guideline for all officers and staff in response to the Chief Minister’s direction. The updated policies come with a strong warning: employees who share recordings while wearing their uniforms…
Islamabad, Sep 12: In honor of their “30 years of excellence,” Honda Pakistan has unveiled a special package that includes 7 enhancements for the Honda City 1.2L CVT variant. Customers are invited to upgrade the comfort and style of their cars with these additions as part of a limited time offer that was publicized on social media. Here are the 7 upgrades available in the package: Rear Right (RR) Speakers Alloy Wheels Front Fog Lights High-Grade Seats Shark-Fin Antenna Navigation System with Reverse Camera Chrome Door Handles It’s crucial to remember that Honda has not yet disclosed the cost of…
Islamabad, Sep 12: Apple event 2024 typically come with lots of news — and the Sept. 2024 “Glowtime” event on Monday delivered. The marquee event from the tech giant promised the new iPhone 16, Apple Watch Series 10, and more. Apple Watch Series 10 specs, price revealed The tech giant unveiled the most recent iteration of its well-liked smart watch, along with new colorways in rose gold and black. According to Apple, the Series 10 was noticeably slimmer and lighter without compromising on functionality. Additionally, it seems to have a better speaker than any sicko listening to music on their…