Pakistan and the Asian Development Bank (ADB) have signed six loan agreements worth $1.2 billion, with one-third of it to be disbursed as budget financing, reopening choked financing pipelines after reaching a deal with the International Monetary Fund (IMF). The loan agreements were signed by the Economic Affairs Division (EAD) and the local office of […]
The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) has dropped 3,200 points, or more than 4.6%, over the last two days. At 2:00 pm, the index was essentially unchanged at 62,996 points. Samiullah Tariq, Head of Research at Pak-Kuwait Investment Company, stated that the market was taking profits and that there was significant […]
Valuation Ruling No. 1834/2023 is the new regulation that the directorate has published to replace the old one that was released nine months ago. This decision, which is based on Section 25-A of the Customs Act, 1969, particularly relates to the evaluation of the worth of cell phones. The official paper states that in order […]
The National Vocational and Technical Training Commission (NAVTTC) and Daraz, the top e-commerce platform in Pakistan, have formally entered a strategic relationship through a Memorandum of Understanding (MoU), signed on December 11 in Karachi. Mr. Hafeez Abbasi, Director General of SS&C, NAVTTC, and Mr. Ehsan Saya, Managing Director of Daraz, signed the Memorandum of Understanding. […]
One of the main reasons the nation repeatedly requests bailouts from the International Monetary Fund (IMF) is the small size and slow growth of its exports. Not only is Pakistan’s export profile small, but it is also undiversified. The textile sector is primarily responsible for about half of Pakistan’s total exports of products and services […]
Zoom Video Communications increased demand on Monday by raising its yearly revenue and profit projections due to trends toward hybrid work and the incorporation of artificial intelligence technologies into its products. During the COVID lockdowns, platforms like Zoom, Microsoft Teams, and Cisco Webex became well-known, and their demand has been steady as more companies have […]
In order to bring 1.5 to 2 million new taxpayers, the caretaker federal government has established 145 District Tax Officers (DTOs) across the country The caretaker federal government has established 145 District Tax Officers (DTOs) across the nation in an effort to attract 1.5 to 2 million new taxpayers. The Income Tax Law has given […]
The company’s president, Greg Brockman, resigned after OpenAI took the unexpected decision to fire CEO Sam Altman on Friday. Chief Technology Officer (CTO) Mira Murati was named as the company’s acting CEO. According to Bloomberg, Murati expressed her gratitude and humility at being given the opportunity to manage the company in a memo. But exactly […]
Tech mogul Elon Musk threatened to suspend anyone who used the phrases “from the river to the sea” and “decolonization” in a post on his social media site X, which was formerly known as Twitter, on Saturday. Musk claims that these are anti-Semitic statements that incite further hostility toward Jews. In a previous tweet, he […]
The Asian Development Bank (ADB) has granted Pakistan a $250 million loan to improve the power transmission infrastructure in the nation, which is still experiencing an electrical crisis. According to an official release from the ADB, the assistance will “help deliver reliable electricity in Pakistan by expanding and improving the power transmission network in the […]
