ISLAMABAD: United Arab Emirates-based International Holding Co. acquired an 82.64% stake in Pakistan’s First Women Bank Ltd. for Rs4.1 billion in a government-to-government deal, marking the South Asian nation’s first bank privatization under a bilateral framework.
Technology
Pakistan sees price stability return, growth edge up in FY25: central bank
KARACHI: The central bank said macroeconomic conditions improved in fiscal 2025 as tight monetary policy and fiscal tightening curbed inflation and bolstered stability, though risks from global trade disruptions, geopolitical strains and domestic flooding threaten the outlook.
Pakistan dispatches first critical minerals to US in $500 million partnership push
ISLAMABAD: Pakistan has shipped its first batch of rare earth elements and other critical minerals to the US, marking a key step in a $500 million deal aimed at bolstering economic ties and integrating the South Asian nation into global supply chains for materials vital to defence and technology.
PIA to resume UK flights with Manchester-Islamabad route from Oct. 25 after five-year ban
ISLAMABAD: Pakistan International Airlines (PIA) will restart flights to the United Kingdom on October 25, launching nonstop service from Manchester to Islamabad, the carrier said Saturday, marking its return to British airspace after a five-year hiatus.
Competition watchdog clears $400 mln PTCL-Telenor Pakistan merger
ISLAMABAD: Pakistan Telecommunication Company Limited (PTCL) said on Wednesday the Competition Commission of Pakistan (CCP) has conditionally approved its proposed acquisition of Telenor Pakistan BV and Orion Towers (Private) Limited, paving the way for a major consolidation in the country’s telecom sector.
PIA mulls direct Dhaka flights after high-level contacts with Bangladesh
ISLAMABAD: Pakistan is considering resuming direct flights to Bangladesh’s capital as ties between the two South Asian nations show signs of improvement, the state-owned airline announced on Sunday, marking a potential step toward bolstering economic and people-to-people connections strained for decades.
ECC approves commercial imports of used cars with duties, age limits
ISLAMABAD: The Economic Coordination Committee of the cabinet on Wednesday approved changes to import rules allowing the commercial shipment of used vehicles, imposing a 40% regulatory duty and initially restricting them to models no older than five years.
PIA gets TCO approval to restart UK operations in October
ISLAMABAD: Pakistan International Airlines (PIA) will resume flights to the United Kingdom next month after receiving Third Country Operator (TCO) approval, the national carrier announced on Wednesday, marking a significant step in restoring its UK operations following a five-year ban.
Pakistan to launch 5G in seven cities within months, eyes Saudi-backed investment
KARACHI: Pakistan will roll out 5G wireless services within months, starting in seven major cities, as the cash-strapped South Asian nation seeks to bolster its digital infrastructure and draw foreign investment through a new defence pact with Saudi Arabia.
Pakistan extends airspace ban for Indian aircraft until October 24
ISLAMABAD: Pakistan on Friday extended its ban on Indian aircraft using its airspace until October 24, the Pakistan Aviation Authority (PAA) said, marking the fifth extension of a restriction first imposed in April amid heightened tensions between the two nuclear-armed neighbors.