Author: Ashir Awan
Wafi Energy Holding Limited has successfully acquired an 11.29% stake in Shell Pakistan Limited (SPL), as reported by Arif Habib Limited (AHL), the manager overseeing the offer. This strategic move was confirmed in AHL’s final transaction report, released on Tuesday, marking a noteworthy development in the energy sector. Details of the Acquisition The acquisition consists of purchasing 24.162 million shares, representing 11.29% of Shell Pakistan’s total issued and paid-up share capital. The transaction was completed at a price of Rs. 155.11 per share, underscoring the value and potential Wafi Energy sees in SPL’s future growth and performance. Wafi Energy’s Expansion…
In alignment with Punjab Chief Minister Maryam Nawaz’s vision to empower women, Chief Traffic Officer (CTO) Beenish Fatima has officially introduced the ‘Women on Wheels’ program in Rawalpindi. The launch event was held at the Girls Guide House, marking a significant step towards encouraging women to embrace independence through mobility. Driving Towards Independence The ‘Women on Wheels’ initiative is designed to provide women with essential scooter and motorcycle driving training, allowing them to gain confidence and independence on the roads. CTO Beenish Fatima personally invited the women at the Girls Guide House to participate in the program, emphasizing how vital…
In a significant move to boost tourism, the International Creatives Exchange (ICE) and the Association of the Indonesian Tours and Travel Agencies (ASITA) have officially signed a memorandum of understanding (MoU) to establish a direct flight operation between Pakistan and Indonesia. The agreement, which marks a new chapter in travel cooperation between the two nations, was signed during a special ceremony at Al Barkat Palace in South Jakarta on Monday. Historic Partnership to Promote Tourism This MoU is a milestone for both countries, as it aims to enhance tourism and cultural exchange between Pakistan and Indonesia. ASITA, Indonesia’s oldest and…
A young Pakistani cybersecurity expert, Usama Saleem, has garnered international recognition by being featured on NASA’s prestigious Hall of Fame. The 25-year-old, hailing from Pakistan, has made his mark in the global cybersecurity arena with his exceptional skills in identifying critical vulnerabilities in NASA’s systems. A Breakthrough Achievement for Pakistan Usama Saleem’s achievement is a significant milestone not just for him but also for Pakistan’s growing reputation in the tech industry. His inclusion in NASA’s Hall of Fame highlights the country’s talent pool in cybersecurity, an increasingly vital field as global institutions seek to safeguard their systems. Usama’s keen eye…
Major Expansion Announced Flying Cement Company Limited (PSX: FLYNG) is all set to launch a new clinker line with a significant daily production capacity of 9,000 tons. This strategic move is part of the company’s broader efforts to scale its operations and meet the rising demand for cement in Pakistan. Boosting Production and Market Presence With the introduction of this high-capacity clinker line, Flying Cement aims to enhance its production efficiency and secure a stronger position in the competitive cement industry. This expansion will also enable the company to cater to large-scale infrastructure projects across the country, contributing to the…
The Federal Government has officially appointed Abu Bakar as the new Chief Executive Officer (CEO) of the Pakistan Software Export Board (PSEB), marking a pivotal shift in leadership. His appointment comes as the organization seeks to strengthen its role in boosting the country’s IT exports and expanding its global reach, filling the leadership gap that had been affecting its progress. An Experienced Leader in Technology Abu Bakar brings a wealth of experience in the technology sector, which is expected to enhance PSEB’s operational capacity and strategic goals. With a proven track record of leadership and innovation, his role will be…
Collaborative Effort for Skill Development The UK government and prominent Middle Eastern institutions are joining forces to set up 280 skills development centers across Pakistan. This initiative is aimed at generating millions of job opportunities for Pakistanis, especially in the global market. A delegation comprising members from UK universities and GEMS Middle East is currently visiting Pakistan to drive forward this ambitious project in collaboration with the National Vocational and Technical Training Commission (NAVTTC). Focus on Technical and Vocational Training The partnership focuses on enhancing Technical and Vocational Education and Training (TVET) in Pakistan. These centers will offer training in…
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Export Growth Amid Trade Deficit Expansion In the first quarter of the fiscal year 2024-25, Pakistan experienced a notable increase in exports, which surged by 14.11%. According to the latest figures from the Pakistan Bureau of Statistics (PBS), exports for the July-September period reached $7.875 billion, up from $6.901 billion in the same quarter last year. This marks a promising trend for Pakistan’s export sector, which continues to show resilience despite global challenges. Rising Imports Contribute to Widening Trade Deficit While exports are on the rise, Pakistan’s imports also increased during the first quarter of the current fiscal year. Imports…
Strategic Meeting to Boost Relations In a significant step toward deepening ties, Provincial Minister Chaudhry Shafay Hussain met with Iranian Consul General H.E. Mehran Movahed Far to discuss expanding cooperation between Pakistan and Iran. The meeting focused on key sectors, including health, tourism, pharmaceuticals, and agriculture, underscoring both nations’ commitment to enhancing regional collaboration. Collaboration in Healthcare and Pharmaceuticals One of the key areas of discussion was the healthcare and pharmaceutical sectors. Both parties emphasized the importance of sharing knowledge, technology, and resources to improve public health services. Iran’s advancements in pharmaceutical production were particularly highlighted as a potential model…