KARACHI, October 23 2024: Seized goods valued at over Rs. 23 million have reportedly been stolen from Karachi Airport’s Royal Service Terminal, under the watch of customs and terminal officials. According to documents, the Post Clearance Audit (PCA) South exposed this case of illegal pilferage, which involved a Lahore-based company accused of misdeclaring liquid food…
Islamabad, October 22, 2024: The National Electric Power Regulatory Authority (NEPRA) has approved K-Electric’s (KE) generation tariff for the period post-June 30, 2023. This decision includes a dissenting opinion from the Member (Finance and Tariff). The approved tariff control period will last for seven years or the remaining useful life of KE’s plants, whichever is…
New York, October 22, 2024 — Starbucks Corp (SBUX.O) has suspended its financial forecast for the upcoming fiscal year as its newly appointed CEO, Brian Niccol, seeks to overhaul the coffee giant’s strategy amid declining demand for its premium beverages. The company also reported preliminary results for its fourth quarter, revealing declines in same-store sales,…
Islamabad, October 23, 2024: Power generation in Pakistan saw a year-on-year decline of 6.4% in September 2024, with total output falling to 12,487 GWh (17,343 MW) compared to 13,339 GWh (18,527 MW) during the same period last year (SPLY). On a month-on-month basis, the country also experienced a 5.3% decrease in power generation, reflecting ongoing…
Karachi, October 23, 2024: Speaking at the SCB Global Majlis 2024 in Karachi, the Deputy Governor of the State Bank of Pakistan (SBP) delivered a decisive message on the nation’s future financial system. He announced that Pakistan must transition completely to an Islamic financial framework by December 2027, per a constitutional mandate. This directive leaves…