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Finance

InDrive Invests in Krave Mart to Boost Grocery Delivery in Emerging Markets

InDrive Invests in Krave Mart to Boost Grocery Delivery in Emerging Markets

Global ride-hailing platform inDrive has strategically invested in Pakistan’s leading grocery delivery startup, Krave Mart, as part of its vision to expand into emerging markets. This move aligns with inDrive's broader strategy of transforming into a super app while enhancing access to essential services worldwide.   inDrive's Investment Focus Headquartered in Mountain View, California, inDrive…

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Apple’s Race to $4 Trillion: How AI-Powered iPhones Are Driving Growth

Apple’s Race to $4 Trillion: How AI-Powered iPhones Are Driving Growth

Apple’s journey towards a $4 trillion market valuation is marked by a strategic shift towards integrating advanced artificial intelligence (AI) features. Despite initial lukewarm demand for the iPhone 16 series, Apple’s stock has surged by 16% since November, adding $500 billion to its market value and reinforcing its dominance in the tech world.   Refining…

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NERA Advocates for Sustainable Spectrum Pricing in Pakistan’s 5G Auction

NERA Advocates for Sustainable Spectrum Pricing in Pakistan’s 5G Auction

The National Economic Research Associates Inc. (NERA), a leading US-based consultancy, has recommended critical changes for Pakistan's upcoming 5G spectrum auction. Addressing the National Broadband Network Forum 2024, NERA emphasized aligning pricing and policies with regional and global standards to ensure long-term sector growth.   Key Recommendations: Rupee-Based Spectrum Pricing: Pegging prices to the Pakistani…

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Pakistan's Inflation Hits 6.5-Year Low: A Historic Milestone in Economic Stabilization

Pakistan’s Inflation Hits 6.5-Year Low: A Historic Milestone in Economic Stabilization

Pakistan’s inflation rate continues to plummet, reaching record lows not seen in over six years. In December 2024, the Consumer Price Index (CPI) is projected to hit 4%, marking a sharp decline from last year’s soaring inflation levels. This disinflationary trend underscores Pakistan's economic progress and signals the positive impact of recent monetary and fiscal…

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Sapphire Electronics and Samsung Team Up to Boost Pakistan’s Electronics Industry

Sapphire Electronics and Samsung Team Up to Boost Pakistan’s Electronics Industry

In a groundbreaking move for Pakistan’s electronics industry, Sapphire Electronics (Pvt) Limited, a subsidiary of Reliance Cotton Spinning Mills Limited (RCML), has officially joined hands with Samsung Electronics. This strategic partnership, announced on December 23, 2024, aims to manufacture, assemble, and sell Samsung-branded electronic products and home appliances locally. A Major Leap for Local Production…

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First ODI Series Whitewash Against South Africa on Their Home Soil

First ODI Series Whitewash Against South Africa on Their Home Soil

Pakistan achieved a groundbreaking milestone by becoming the first team to whitewash South Africa in a bilateral ODI series on their home turf. The 3-0 series victory was capped off with a 36-run win in the third ODI, showcasing exceptional teamwork and individual brilliance. Pakistan's exceptional performance in the ODI series against South Africa marked…

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The Future of Dubai Metro – Blue Line Set to Transform Urban Transit

The Future of Dubai Metro – Blue Line Set to Transform Urban Transit

Dubai Metro Blue Line: A Transformational Step Forward Dubai's Roads and Transport Authority (RTA) has confirmed the completion and operational date for the highly anticipated Dubai Metro Blue Line. Slated to begin operations on September 9, 2029, the project is set to mark the 20th anniversary of the Dubai Metro, which began service on the…

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Empowering Punjab’s Youth Through Innovative Internship Programs

Empowering Punjab’s Youth Through Innovative Internship Programs

Punjab has launched groundbreaking initiatives to empower young graduates through innovative internship programs. These programs focus on developing skills, offering financial independence, and creating job opportunities for the youth.   Punjab Socioeconomic Registry Program: Limited Internship Opportunities The Punjab Socioeconomic Registry Program offers young men and women limited internship positions on a Union Council basis.…

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The Journey of Asylum: Pakistanis Seeking Refuge in Europe

The Journey of Asylum: Pakistanis Seeking Refuge in Europe

Between October 2023 and October 2024, Pakistani nationals submitted around 28,000 applications for international protection across European Union Plus (EU+) countries. According to the EU Agency for Asylum (EUAA), the monthly figures showed a notable decline, peaking at 3,400 in October 2023 and dropping to 1,900 by October 2024.   Preferred Destinations for Asylum Italy…

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Pakistan Condemns US Sanctions on Ballistic Missile Program

Pakistan Condemns US Sanctions on Ballistic Missile Program

Pakistan has strongly criticized recent sanctions imposed by the United States on its National Development Complex (NDC) and three private commercial entities. The sanctions, announced under Executive Order 13382, target organizations allegedly contributing to the proliferation and delivery of weapons of mass destruction (WMDs). Pakistan has termed these sanctions as "unfortunate and biased," asserting that…

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FBR’s New Tax Regulations 2024: What Every Pakistani Needs to Know

The Federal Board of Revenue (FBR) has introduced significant reforms under the Tax Laws (Amendment) Bill 2024 to enhance financial accountability and tax compliance in Pakistan. Presented in the National Assembly, this bill brings forward new provisions for data sharing between the FBR and banks, as well as stringent restrictions on economic activities for non-filers,…

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MISAAF Energy: Revolutionizing Power Solutions in Pakistan

MISAAF Energy: Revolutionizing Power Solutions in Pakistan

MISAAF Energy Pvt. Ltd. is setting new benchmarks in the energy sector by providing cutting-edge diesel generators and solar power systems tailored to the diverse needs of businesses across Pakistan. Renowned for their commitment to efficiency, durability, and sustainability, MISAAF Energy has become a trusted name for uninterrupted power solutions in industries ranging from healthcare…

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IMF Tax Conditions on Agricultural Income Delayed to July 2025

IMF Tax Conditions on Agricultural Income Delayed to July 2025

The implementation of the IMF-mandated condition to impose income tax on agricultural income in Pakistan has been postponed to July 2025. Under the National Fiscal Pact, provinces are expected to impose these taxes starting from the next fiscal year. The federal government has sought additional time from the International Monetary Fund (IMF) to meet these…

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Kuwait Introduces Modern Residency Law

Kuwait Introduces Modern Residency Law

Kuwait has unveiled a groundbreaking foreign residency law, marking the most significant transformation of its immigration policies in over six decades. Issued via Amiri decree on November 28, the law aims to modernize the country’s residency system while addressing critical issues such as visa trading, exploitation of migrant workers, and human trafficking. The new legislation,…

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Karachi Faces Gas Supply Suspension Due to Pipeline Relocation Amid Worsening Gas Crisis in Pakistan

Karachi Faces Gas Supply Suspension Due to Pipeline Relocation Amid Worsening Gas Crisis in Pakistan

The Sui Southern Gas Company (SSGC) has announced an 8-hour gas supply suspension in parts of Karachi, reflecting broader energy challenges as the winter intensifies across Pakistan.   Gas Suspension in Karachi The gas supply will be interrupted in Karachi’s Peoples Chowrangi area on December 14 from 10:00 PM to 6:00 AM on December 15.…

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UAE Promises Faster Visa Processing for Pakistani Nationals

UAE Promises Faster Visa Processing for Pakistani Nationals

In a significant development aimed at strengthening ties between the United Arab Emirates (UAE) and Pakistan, the UAE government has announced measures to expedite visa processing for Pakistani nationals. This initiative reflects the UAE's commitment to fostering closer bilateral relations and supporting the growing community of Pakistanis residing and working in the Gulf nation.  …

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Senate Approves Establishment of National Forensics Agency: A Game-Changer for Pakistan

Senate Approves Establishment of National Forensics Agency: A Game-Changer for Pakistan

The Senate of Pakistan has taken a significant step to enhance the country's forensic capabilities by approving the establishment of the National Forensics Agency (NFA). This initiative replaces the existing National Forensics Agency Project with a fully functional, independent body to address the challenges of inconsistent forensic services across the nation.   Transforming Forensic Capabilities…

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Only 38,000 Out of 23 Lac Freelancers Have Bank Accounts

Only 38,000 Out of 23 Lac Freelancers Have Bank Accounts

Freelancing has become a pivotal source of income for millions in Pakistan, with over 23 lac (2.3 million) individuals contributing to the gig economy. Despite this massive workforce, a shocking statistic has emerged: only 38,000 freelancers have registered bank accounts.   Financial Exclusion: A Major Challenge The limited number of freelancers with bank accounts highlights…

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FIA’s Anti-Corruption Drive: Major Arrests and Recoveries Unveiled

FIA’s Anti-Corruption Drive: Major Arrests and Recoveries Unveiled

The Federal Investigation Agency’s (FIA) Anti-Corruption Circle in Islamabad has intensified its crackdown on corruption, making significant strides in uncovering fraudulent activities and recovering misappropriated funds. The following are the key highlights:   Arrest of Ministry of Education Officials Two former employees of the Ministry of Education, holding the positions of Chief Finance Officer and…

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