The Cabinet Division announced on Wednesday that the government will save Rs36 billion annually by cutting nearly 40,000 public sector jobs. These cuts are part of a major cost-saving drive aimed at making the federal government more efficient. However, 29% of the abolished posts were from the lowest grade-1, affecting gardeners, sweepers, and peons the […]
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Creators of viral ‘dubai chocolate’ fight against copycats
The creators of the viral “Dubai chocolate” bar, Can’t Get Knafeh of It, are raising alarms about copycat brands. Founders Yezen Alani and Sarah Hamouda, of FIX Chocolatier, say these imitations dilute their brand and confuse customers. The couple launched their luxurious pistachio-and-knafeh-filled chocolate bar in the UAE in 2022, initially as a passion project. […]
Pakistan secures two-year extension on Kuwait’s oil credit facility
Kuwait has extended its oil credit facility to Pakistan for another two years. Kuwait’s Ambassador to Pakistan confirmed the news during a meeting with Petroleum Minister Ali Pervaiz Malik in Islamabad on Wednesday. Federal Minister for Petroleum Ali Pervaiz Malik received H.E. Nassar Abdulrahman J. Almutairi, the Ambassador of the State of Kuwait to Pakistan, […]
Govt unveils major tech initiatives with new IT parks, digital reforms
The federal government has announced a wide-ranging plan to boost its technology sector through major infrastructure projects, digital services, and foreign investment drives. Speaking at the Leaders in Islamabad Business Summit on Wednesday, Federal Minister for IT and Telecom Shaza Fatima said that the country is preparing to launch several initiatives aimed at modernising its […]
Rupee gains 10 paisa against dollar
The Rupee on Wednesday appreciated by 10 paisa against the US Dollar in the interbank trading and closed at Rs280.46 against the previous day’s closing of Rs280.56. However, according to the Forex Association of Pakistan (FAP), the buying and selling rates of the dollar in the open market stood at Rs280.65 and Rs282.15, respectively. The […]
Gold prices reach all time high to Rs.348,000 per tola
The price of 24 karat per tola gold increased by Rs.8,600 and was traded at all time high at Rs.348,000 on Wednesday as compared to its sale at Rs339,400 on previous trading day, All Pakistan Sarafa Gems and Jewelers Association reported. The prices of 10 grams of 24 karat also increased by Rs.7,373 to Rs […]
Donald Trump raises China tariffs to 245% in latest trade-war move
US President Donald Trump on Tuesday signed an executive order increasing tariffs on Chinese imports to 245%, citing China’s retaliatory measures as the trigger for the move. The order, issued on April 15, marks a significant escalation in the ongoing US-China trade dispute. According to a White House factsheet accompanying the announcement, the tariff hike […]
Govt scraps 3% FED on property sale
The government has decided to immediately abolish the 3% federal excise duty (FED) being charged on the first sale of all properties in Pakistan after July. This reverses a contentious tax measure, that has severely damaged the real-estate sector, after almost 10 months of its introduction. The decision has been taken in consultation with the […]
Minister calls for global support in textile waste recycling
Federal Minister for Climate Change and Environmental Coordination, Senator Musadik Masood Malik, has underscored the critical role of the used textiles trade in combating global fashion waste, stating that millions of tons of clothing end up in landfills each year. Speaking at a high-level dissemination meeting on circularity and the used textiles trade, organized by […]
PSX witnesses bearish trend, loses 755 points
The 100-Index of the Pakistan Stock Exchange (PSX) witnessed a bearish trend on Wednesday, losing 755.40 points, a negative change of 0.65 percent, closing at 116,020.11 points as compared to 116,775.50 points on the last trading day. A total of 481,813,460 shares were traded during the day as compared to 479,465,114 shares the previous trading […]