KARACHI, October 31 2024: In a pivotal moment for the privatization of Pakistan International Airlines (PIA), the Blue World City consortium has officially declined to meet the Privatisation Commission’s minimum requirement of Rs85.03 billion. Instead, the consortium has firmly maintained its bid of Rs10 billion, effectively bringing the bidding process to an impasse. Initially, Blue…
KARACHI, October 31 2024: In a significant move to streamline email composition, Google has announced the rollout of its new “Help me write” feature for Gmail users on the web. This innovative tool is set to revolutionize the way individuals craft their emails, making the process not only faster but also more efficient. When users…
KARACHI, October 31 2024: In the third quarter of 2024, Pakistan’s listed banks demonstrated resilience, recording a total profitability of PKR 158 billion. While this figure represents a slight decline of 1% year-on-year, it reflects a robust increase of 16% quarter-on-quarter. Key Highlights: Bank-Specific Performance: Future Outlook: Most banks have maintained their dividend payouts, a…
KARACHI, October 31 2024: In a historic turn of events, Pakistan has reported a budget surplus for the first time since the second quarter of FY04, marking a significant milestone in the country’s fiscal management. Key Highlights of 1QFY25: Overall, these figures reflect a significant shift in Pakistan’s economic landscape, showcasing improved fiscal discipline and…
Karachi, October 31st, 2024: Wafi Energy Holding Limited (Wafi Energy) becomes the majority shareholder of Shell Pakistan Limited (SPL) after The Shell Petroleum Company Limited, a subsidiary of Shell plc (Shell), completes the sale of its 77.42% interest in SPL. Wafi Energy, an established Saudi company and affiliate of the Asyad Group, now holds approximately…