Islamabad, Sep 12: State-controlled oil company Saudi Aramco First gas station in Pakistan by End of 2024 This comes after Aramco made its first downstream retail investment in the nation in May when it acquired a 40% share in Gas & Oil Pakistan Ltd. (GO). Following its acquisition of Chilean fuel and lubricant supplier Esmax Distribución SpA earlier this year, Aramco has now entered the Pakistani market. Saudi Aramco gas station Pakistan completed the purchase of a 40% equity holding in GO Petroleum in May 2024. GO is a prominent petroleum firm in Pakistan that specializes in the acquisition, warehousing,…
Author: Mawadat Fatima
Islamabad, Sep 12: Airlink Secures Premium Partner for Apple’s Distribution in Pakistan, the authorized, Apple’s Distributor in Pakistan the business notified to the main stock exchange on Thursday. According to the stock filing, this strategic appointment intends to greatly increase the availability of Apple goods and give consumers better access to the newest developments through organized Retail Channel coverage. We are thrilled to welcome Air Link Communication Limited, an established and proven name in the industry,” said Shahid Khan, CEO of GNEXT Technologies. “Their extensive reseller channel network aligns perfectly with our vision of making Apple products accessible to a…
Islamabad, Sep 12: Following a seven-month ban, the social media site Twitter, now branded as X, is once again X Accessible in Pakistan, according to a PTA lawyer who appeared before the Sindh High Court. The lawyer said that X’s social network restriction has been lifted because the letter that was originally submitted in February to request X’s suspension has been retracted. The lawyer elucidated the government’s attitude on X access subsequent to the Sindh High Court’s demand for PTA’s view on the topic. As things stand, it’s unclear if access to X has been allowed permanently again or if…
Islamabad, Sep 12: The Met Office has released an urgent Arctic Blast Weather Forecast Met Office update, warning of a severe cold front heading towards the UK. According to the forecast, temperatures are expected to drop well below freezing, with heavy snow and strong winds likely to cause disruptions across northern regions. In the latest Arctic Blast Weather Forecast Met Office bulletin, meteorologists predict that this cold snap could last for several days, impacting travel and daily routines. In a sign of things to come, weather forecaster WXCharts is predicting that some areas might even see temperatures as low as -5C. Authorities…
Islamabad, Sep 12: The Pakistan Earthquake Today Magnitude is 5.7 on the Richter’s scale. The Punjab cities rocked by the earthquake included Islamabad, Lahore, Multan, Faisalabad, Mianwali, Bhakkar, Kamalia, Khanewal, Bhalwal, Chiniot, Hafizabad, Toba Tek Singh, Gujarat, Sargodha and Jhang among other cities. The quake, which occurred at 2:45 PM local time, caused panic among residents, with many rushing out of their homes and offices in fear. The Pakistan Meteorological Department (PMD) was cited by Geo News to state that the epicentre of the earthquake was located approximately 10 kilometers below the surface in the southwest of the Punjab province,…
Islamabad, Sep 11: FBR Income Tax Filing Deadline it clear that there would be no extension in the deadline for filing income tax returns. According to FBR authorities, 1.4 million returns have been filed as of this writing, and they stated that there will be no extension of the deadline past September 30, 2024. FBR also issued a warning, stating that non-fillers may suffer from a number of repercussions, including as the disconnection of gas and electricity meters and the barring of mobile SIMs. The FBR issued a warning, stating that severe measures, including the freezing of bank accounts,…
Islamabad, Sep 11: BF Biosciences Limited plans to issue 28.3 percent additional shares through an Initial Public Offering (IPO) on September 25–26 in an effort to raise between Rs. 1.38 billion and Rs. 1.93 billion. Osman Khalid Waheed, Director of BF Biosciences, stated during the pre-IPO investor roadshow in Karachi that the company is seeking to raise between Rs. 1.38 and 1.93 billion in order to expand its main product lines and secure export certifications. BF Biosciences is a prominent player in the Pakistani biotech pharmaceuticals industry. Since the company has already completed a brownfield expansion, this strategic endeavor is…
Islamabad, Sep 11: The Pakistani rupee (PKR) rose second day in a row against the US Dollar (USD) today after opening trade at 278 in the interbank market. It closed the green against the greenback after remaining steady all day. During today’s session, it recorded gains against the majority of the other major currencies. The interbank rate closed at 278/$, where it had spent the majority of the day. Today’s open market rates were rigidly set at the 278 level across a number of currency exchanges. The Pakistani Rupee gained seven paisas versus the US dollar today, and it appreciated…
Islamabad, Sep 11: Car Sales Increase August 2024 saw a strong 15% year-over-year (YoY) growth in car sales as Pakistan’s auto industry continued to grow. New model releases combined with a smaller base effect from the prior year drove this growth. The Pakistan Automotive Manufacturers Association (PAMA) has released figures showing that overall car sales in August increased to 8,699 units from 7,579 units in the same month the previous year. As a result, there was a notable 36% YoY rise in sales for the first eight months of the fiscal year (2MFY25), totaling 17,288 units. The research states that…
Islamabad, Sep 11: In the Sharjah Airport International Free Zone, Habib Rice Product Limited (PSX: HRPL) has established a fully owned subsidiary, Habib Rice Products (FZE). In a notice to the Pakistan Stock Exchange (PSX) on Wednesday, the company stated, “We are pleased to inform you that Habib Rice Products Ltd (HRPL) has incorporated a 100% wholly owned subsidiary Company Habib Rice Products (FZE) in Sharjah Airport International Free Zone (SAIF – Zone) and got license thereof.” According to the corporation, the subsidiary would support its efforts to win export contracts. Protein, sugar, and starch derived from rice are produced…