Business News
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PIA receives only Rs10bn bid for stake from lone bidder
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[ad_1] Final bidding process for the privatisation of Pakistan International Airlines (PIA) held at local hotel in Islamabad, October 31, 2024. — Screengrab via YouTube/Geo News ISLAMABAD: The Pakistan International Airline (PIA) has received a Rs10 billion bid from lone bidder for a stake against the minimum price of Rs85 billion, set by the federal…
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PSX goes into tailspin, loses over 1,300 points to profit-selling splurge
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[ad_1] An investor monitors rates of stocks at the Pakistan Stock Exchange in Karachi in this undated picture. — AFP/File Stocks on Thursday dropped for the second session to hover under 89,000 points as a massive correction interrupted a days-long rally, which was mainly fuelled by the expectations that the central bank was set to…
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Bidding for PIA privatisation to take place with one bidder
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[ad_1] A representational image of PIA airplane. — AFP/File KARACHI: The federal government is set to hold the bidding process for the privatisation of Pakistan International Airlines (PIA) with just one bidder on Thursday. The process, as per the Privatisation Ministry, would begin at 1:30pm and bids will be opened at 6:30pm in Islamabad. The cash-strapped…
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CM Punjab Maryam Nawaz Announces 3,200 Plots for Journalists in Lahore
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On Thursday, Chief Minister Punjab Maryam Nawaz Sharif met with the provincial Minister of Information, Azma Bukhari, to announce a significant initiative aimed at supporting journalists in the region. During this meeting, CM Maryam unveiled the provision of 3,200 plots specifically for journalists, marking a pivotal moment for the media community in Punjab. Launch of…
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Blue World City Qualifies as Sole Bidder for PIA: Pioneering a New Future in Pakistan’s Aviation
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Blue World City, a prominent real estate developer in Pakistan, has recently qualified as the only bidder for a stake in Pakistan International Airlines (PIA). This news has drawn attention, especially as other major pre-qualified bidders, like Fly Jinnah, YB Holdings, Air Blue Limited, and Arif Habib Corporation, withdrew from the process. This step could…
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Kingdom announces more investments in Pakistan during PM Shehbaz’s visit
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[ad_1] Saudi Investment Minister Khalid bin Abdulaziz Al Falih and Advisor at Saudi Royal Court Mohammad Bin Mazyad Al-Tuwaijri meeting Prime Minister Shehbaz Sharif on sidelines of 8th edition of the Future Investment Initiative (FII) in Riyadh, October 30, 2024. — PID RIYADH: Saudi Arabia on Wednesday announced signing of additional memorandums of understanding (MoUs)…
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UK announces to increase minimum wage
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[ad_1] A worker moves pallets of fruit during early morning business hours at New Covent Garden Market in London, Britain, October 8, 2024. — Reuters In a move which will benefit low-paid workers, the British government has announced to increase the minimum wage for most adults will increase by 6.7% from April next year. Finance Minister…
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PSX’s record-breaking streak ends amid profit-taking
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[ad_1] A broker talks on phone as he looks at an index board showing the latest share prices at the PSX in Karachi on February 10, 2023. — AFP The Pakistan Stock Exchange (PSX) witnessed a turbulent day, hitting a record high before falling by more than 500 points as investors engaged in profit-taking on…
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ADB okays $500m loan to boost Pakistan’s climate, disaster resilience
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[ad_1] People retrieve bamboos from a damaged house following rains and floods during the monsoon season in Dera Allah Yar, district Jafferabad, Balochistan, Pakistan August 25, 2022. — Reuters Under the Climate and Disaster Resilience Enhancement Programme (CDREP), the Asian Development Bank (ADB) approved a $500 million policy-based loan to support climate change and disaster…
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PSX rallies past 91,300 points amid rate cut speculations
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[ad_1] Stock brokers monitor new on television screen at a booth, during a trading session at the Pakistan Stock Exchange, in Karachi, on July 3, 2023. — Reuters Stretching the winning streak, stocks whizzed past 91,300 points in intraday trade, largely driven by expectations of a significant interest rate cut in the central bank’s monetary…
