The boards of eight power distribution companies, which were constituted by the previous Pakistan Democratic Movement (PDM) government, were sacked on Monday over allegations of causing a colossal loss of Rs589 billion for this fiscal year. The PML-N government also decided to enlist the services of the military and intelligence agencies to enhance governance in these power distribution compani
Bearish momentum dominated the Pakistan Stock Exchange (PSX) on Monday as shares declined by more than 250 points following the International Monetary Fund (IMF) visit. Shortly after the opening bell, the benchmark KSE-100 index continued to trade sideways until 10:30, the KSE-100 then continued a downward trajectory, shedding 416.91 points, 0.55 per cent, to stand at 74,925.43 from the previou
Gender equality is not just a basic human right. It is also a cornerstone of a thriving, contemporary economy that fosters sustainable, inclusive growth. Acknowledging that gender equality is crucial ensures that both men and women can contribute fully to advancing societies and economies. The path forward is challenging. According to a report by the Organisation for Economic Co-operation and D
Bank Alfalah Ltd (BAFL) on Monday announced that it had been given the go-ahead by the State Bank of Pakistan to conduct due diligence on Samba Bank. In a stock filing, the bank referred to its April 9 announcement for acquisition of 84.51 per cent shares of Samba Bank held by Saudi National Bank.
Saudi Arabia’s Saudia Group will buy 105 Airbus planes, the company said on Monday, hailing it as the biggest aircraft deal in the country’s history. Saudia airline will receive 54 A321neo aircraft, while budget offshoot flyadeal will acquire 12 A320neo and 39 A321neo planes, it said in a statement. The deal is valued at $19 billion, according to a separate statement from the Future Aviation