DUBAI: Over 3,300 Pakistani companies joined the Dubai Chamber of Commerce (DCC) in the first quarter of 2023, said the country’s top diplomat in the United Arab Emirates (UAE). Pakistan’s Ambassador to UAE Faisal Niaz Tirmizi said the development reflected the dynamism of Pakistani businesses and the increasing attractiveness of the UAE as an investment … Read more
Forbes ranks Musk as the world’s richest person. The estimated net worth of $237.1 billion. Tesla lags behind other U.S. tech companies in terms of the representation of women. Elon Musk said on Friday he wanted to “essentially” increment childcare benefits at his organizations, including Tesla Inc (TSLA.O), and that the subtleties probably would … Read more
EU lawmakers have approved ground-breaking regulations to limit the power of tech behemoths. However, because of limited resources, enforcing the regulations may prove difficult. Critics claim that the EU’s taskforce for regulating Big Tech lacks specialized expertise. On Tuesday, EU lawmakers approved ground-breaking regulations to limit the power of tech behemoths like Alphabet’s (GOOGL.O) Google, … Read more
KARACHI: As many as six companies participated in the Corporate Tapeball Cricket Tournament, organised by Stryvve Pakistan. The country’s leading corporates including Siemens Pakistan, Dollar Industries, Daraz, Princely Jets, Ismail Industries and Hellmann Worldwide Logistics competed against each other. Daraz and Princely Jets competed in the first semi-final which Princely Jets won after successfully chasing … Read more
U.S. firms will reimburse travel fees for employees who must leave their home states for abortions. Amazon, Apple, Lyft, Microsoft, and JPMorgan Chase & Co revealed plans. Conde Nast CEO called decision “a catastrophic blow to reproductive rights”. A increasing number of large U.S. firms will reimburse travel fees for employees who must leave their … Read more
Acuity (AYI) saw a 5% increase in its stock price in premarket trading. Restoration Hardware (RH) fell 7.7% after the home goods retailer dropped its full-year guidance. Spirit Airlines (SAVE) will have a shareholder vote on its merger with Frontier Group. Walmart (WBA) – The operator of the drugstore made an adjusted 96 cents per … Read more
The U.S. added five companies in China to a trade blacklist for allegedly supporting Russia’s military. The Commerce Department said the firms supplied items to Russian “entities of concern”. The agency also added another 31 entities from countries that include Russia, UAE, Lithuania, Pakistan, and Singapore. U.S. President Joe Biden’s organization added five organizations in … Read more
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) registered 1,906 new companies in May 2022, raising the total number of registered companies to 169,919, a statement said on Wednesday. The latest numbers show an increase of 19 per cent as compared to the corresponding period of last year. The total capitalisation (paid-up-capital) with regard … Read more
European Commission President Ursula von der Leyen warned agencies now not to bend to Russia’s demands to pay for gas in rubles, as the continent scrambles to respond to Moscow’s circulate to start switching off resources. Gazprom PJSC grew to become off the faucets to Poland and Bulgaria on Wednesday in a dramatic escalation of … Read more
KARACHI: The Pakistan equity market remained volatile on Thursday due to further rupee depreciation and investors’ concerns over a hike in the Market Treasury Bill yields. An analyst at Arif Habib Limited said that despite opening in the green zone, the KSE-100 Index failed to sustain the positive momentum as profit taking was observed during … Read more
KARACHI: The Pakistan equity market observed a volatile session on Wednesday, as investors opted for profit-taking in the last trading hour, which led the index to close in the red zone. An analyst at Arif Habib Limited said that the market opened on a bleak note but value buying was witnessed in the first trading … Read more
KARACHI: Modaraba Al Mali (MODAM) has made arrangements with Yousaf Weaving Mills Limited (YOUW) to provide support to revive and rehabilitate the company, a bourse filing said on Monday. “MODAM and its associates may invest in the YOUW’s right issue up to 10 per cent i.e., up to 10 million shares (out of unsubscribed portion). … Read more
WASHINGTON: Hiring in the United States surged in December, with private companies adding 807,000 workers, particularly in the service sector, payroll services firm ADP reported on Wednesday. It was a big upswing from the 505,000 gain in November and nearly double the increase economists had been expecting, but the fast-spreading Omicron variant of Covid-19 could hit … Read more
RIYADH: Saudi Arabia is still seeing a tsunami of initial public offerings (IPOs) with Wednesday’s latest round of approvals for companies to sell shares to the public. The Capital Market Authority approved on Wednesday the offering of 70.3 million shares, the market regulator revealed. The approvals were led by Public Investment Fund’s fully owned Elm Co. that … Read more
RIYADH: The Saudi Central Bank has issued the IT governance framework to streamline functions of financial institutions operating in the kingdom, the Saudi Press Agency reported. The framework will also be applicable to lending institutions, Saudi Payments and credit information companies. It is part of SAMA’s responsibilities to effectively identify and address potential IT risks and threats. … Read more
RIYADH: China plans to ban companies from going public on foreign stock markets through entities with different interests. It will close a loophole that the country’s technology industry has long used to raise capital from foreign investors, according to Bloomberg. People familiar with the matter, who asked not to be identified while discussing private information, said … Read more
KARACHI: The Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), one of the world’s most influential energy sector event, took place from November 15 to 18, 2021 in Abu Dhabi National Exhibition Centre (ADNEC), United Arab Emirates, under the patronage of the president of the United Arab Emirates, a statement said. Pakistan’s leading national oil … Read more
DUBAI: A new international body will oversee companies’ environmental policies to ensure investors are not being duped by false sustainability claims known as ‘greenwashing’, Arab News reported. The International Sustainability Standards Board (ISSB) was revealed at the COP26 Climate Change Conference in Glasgow, and is expected to commence work next year. It will have offices in Montreal, … Read more
RIYADH: Two major delivery companies have cancelled or drastically scaled back their services between Saudi Arabia and Lebanon, employees said on Wednesday, following a major diplomatic row between the two countries. DHL has stopped inbound and outbound shipments between the two countries, a company employee, who spoke on condition of anonymity, told AFP. An email … Read more
RIYADH: Saudi Aramco is the world’s most profitable company in the third quarter, beating tech giants such as Google, Amazon and Apple, as well as other listed energy companies such as ExxonMobil and Shell, Arab News reported. Thanks to the recent increase in oil prices, the Dhahran-based company reported that its net income in the third quarter … Read more
RIYADH: The Saudi oil giant Aramco asked companies to send their technical and financial offers for a water desalination plant project in the Jafurah gas field, with a capacity of around 100,000 cubic metres/day, a banking source told CNBC Arabia. This reflects the company’s latest step to move forward in developing the field and to contribute … Read more
KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has urged the government to equally treat all the oil marketing companies (OMCs), a statement said on Wednesday. FPCCI president Mian Nasser Hyatt Maggo expressed concerns over the unfair practices and treatment to smaller oil marketing companies and said that smooth functioning of the … Read more
The United States is adding eight Chinese technology companies to its trading blacklist, barring some major producers of surveillance equipment from working with American companies. The Commerce Department on Monday said it was adding 28 entities to the list that have been implicated in human rights violations and abuses in the implementation of China’s campaign … Read more
