Tech and Telecom

The European Union (EU) funded and UNIDO implemented Poverty Alleviation & Inclusive Development Across Rural Sindh (PAIDAR) programme successfully concluded its Business Grants Orientation event today at the Marriott Hotel in Karachi. Held to empower small and medium-sized enterprises (SMEs), entrepreneurs, and associations, the event attracted enthusiastic participation from 77 shortlisted applicants representing diverse business sectors. These participants will now collaborate with Technical Assistance (TA) companies allocated by PAIDAR to develop robust business proposals. The sectors represented in the grant fund span a wide range, including solar products, the automotive industry, waste management, construction, food processing, salt mining, retail, biomass…

The price of gold in Pakistan fell marginally on Friday to settle at Rs. 241,700 per tola. According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) rose by Rs. 500 per tola to Rs. 241,700, while the price of 10 grams posted an increase of Rs. 429 to Rs. 207,219. The Sarafa Association said in a brief statement that the price of gold has been kept under cost by Rs. 3,000 considering the reduction in purchasing power of the buyers. Gold price in the local market increased by Rs. 800 per tola on Monday…

Saudi Aramco has completed the acquisition of a 40 percent equity stake in Gas & Oil Pakistan Limited (GO), the energy company said in a media release earlier today. “The acquisition, first announced in December 2023, represents Aramco’s first Downstream retail investment in Pakistan and signals the Company’s growing retail presence in high-value markets. In March, Aramco also acquired a 100% equity stake in Esmax Distribución SpA (“Esmax”), a leading diversified downstream fuels and lubricants retailer in Chile,” the company stated. Yasser Mufti, Aramco Executive Vice President of Products & Customers, said, “Our global retail expansion is gaining pace and…

According to the Met Department’s weather forecast, intense heat will continue in the southern districts of the country. However, certain areas in upper Khyber Pakhtunkhwa, Pothohar, and northeast Punjab might receive rainfall. The department has warned that the southern districts of Punjab, along with most areas in Balochistan and Sindh, will experience severe heatwave. Residents of these areas have been urged to take precautions to prevent heat-related illnesses and to stay hydrated. On the other hand, certain areas in upper Khyber Pakhtunkhwa are expected to receive rainfall. The department has predicted rainfall in Kohistan, Shangla, Battagram, Swat, Chitral, Dir, Abbottabad,…

Pakistan’s all-rounder Imad Wasim experienced discomfort in his right rib cage during a training session on Wednesday, just before the fourth T20I match against England. The Pakistan Cricket Board (PCB) promptly sent him for a scan as a precautionary measure. Consequently, Imad was rested for the final match against England so that he could get match-ready for the T20 World Cup that will take place in the USA and the Caribbean in June. PCB issued a press release on the player’s injury stating, “Keeping the ICC T20 World Cup 2024 in mind, Imad will take ample rest and is expected…

A new UNICEF study shows that powering more health facilities with resilient energy in Pakistan could avert over 175,000 deaths by 2030 and contribute US$ 296 million to Pakistan’s economy by 2044 by reducing maternal, adult, and infant mortality, as well as a lower disease burden as a result of greater energy resilience. Resilient energy refers to a reliable, flexible, accessible, and quality power supply that can withstand and recover quickly from unanticipated shocks, such as power outages and floods. Investment in resilient energy across health, education, and water services can lead to other substantial gains for children in the…

A total of 21,870 shopkeepers/retailers have been registered with the Tajir Dost Registration Scheme. According to the data released by the Federal Board of Revenue (FBR) on Friday, out of a total of 21,870 registered retailers, 5,512 belong to Karachi. A total of 6,706 shopkeepers have been registered in Lahore. In Islamabad, 1,927 retailers have been registered. A total of 2,742 shopkeepers have been registered within the jurisdiction of Rawalpindi. Within the areas of Peshawar, 1,857 retailers have been registered under the Tajir Dostscheme. Around 1,226 traders have been registered in Quetta and 1,900 retailers have been registered in other…

In a thrilling showdown at the Liaquat Gymnasium Stadium, the Pakistan volleyball team secured a 3-0 clean sweep against Australia, marking a significant moment in the sport’s history. This series was Australia’s inaugural tour to Pakistan, a landmark event arranged at the request of the Australian Volleyball Federation that they extended to the Pakistan Volleyball Federation (PVF). The three-match series held crucial importance for both teams as they prepared for their upcoming 2024 Asian Men’s Volleyball Challenge Cup in Bahrain. Pakistan team demonstrated their prowess on the court with an exceptional display of skill and strategy. The first set was…

Former Pakistan skipper Shoaib Malik offered words of encouragement to the national team following Pakistan’s 2-0 loss to England in the four-match T20I series against England that concluded recently at the Kennington Oval where the Men in Green lost by 7 wickets against former T20I World Cup champions. Taking to X, Malik advised the team to keep their heads held up high, particularly focusing on team captain Babar Azam’s batting position and the morale of key players. Malik suggested that captain Babar Azam should consider batting at the number three position emphasizing that this strategic change could enhance the performance…

International Packaging Films Limited (IPAK) will officially list at the Pakistan Stock Exchange (PSX) with effect from Monday i.e. June 03, 2024, said a notice on the main bourse today. Trading in the shares of the Company will commence on the Main Board of PSX from Monday, June 03, 2024, and shall be settled on a T+2 basis. The first settlement date will be Wednesday, June 05, 2024, the notice stated. The Market Lot of the Company will be 1 share of Rs. 10/- each. The shares of the Company have already been declared an eligible security by the Central…