The Biz Update, Author at The Biz Update

Jazz Secures PKR 15 Billion Sukuk, Strengthening Market Leadership and Investor Confidence

The Biz Update2 months ago2 months ago03 mins

Karachi, October 31 2024: Jazz, Pakistan’s leading digital operator, has successfully concluded its second unsecured, privately placed short-term Sukuk issuance of PKR 15 billion. This milestone strengthens investor confidence in Jazz’s market leadership and innovative approach to financing within Pakistan’s telecom sector. The Sukuk issuance was significantly oversubscribed, with a 4x demand from the non-bank…

Arif Habib Corporation Reports Record Profit of PKR 9,431 Million for FY 2024

The Biz Update2 months ago2 months ago03 mins

KARACHI, October 31 2024: Arif Habib Corporation Limited (AHCL), the flagship entity of the Arif Habib Group, has announced a remarkable financial performance for the fiscal year 2024, achieving a record profit of PKR 9,431 million. This significant growth underscores the company’s resilience and strategic positioning within the market. The corporation’s standalone profit-after-tax translates to…

Blue World City’s Rs10 Billion Bid Stalls PIA Privatization Efforts

The Biz Update2 months ago2 months ago03 mins

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…

Google Enhances Gmail with New AI-Powered Features: “Help Me Write” and “Polish”

The Biz Update2 months ago2 months ago04 mins

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…

Pakistan Banks: Financial Performance Overview for 3Q2024

The Biz Update2 months ago2 months ago04 mins

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…