ISLAMABAD : Pakistan’s state media said on Thursday that EduFi, a fintech company focused on education, has won a $250,000 cash award after defeating more than 2,000 rivals in an international competition held during the four-day LEAP 2025 tech conference in Saudi Arabia.The Riyadh worldwide Convention and Exhibition Center inContinue Reading
(Reuters) – A consortium led by Elon Musk will withdraw its $97.4 billion bid for OpenAI’s non-profit part if the ChatGPT manufacturer abandons intentions to become a for-profit firm, the billionaire’s attorneys said in a court filing Wednesday. Musk has been attempting to prevent the business he co-founded and subsequentlyContinue Reading
(Reuters) — Overseas investors were net sellers of Asian shares in 2024, owing mostly to a surge in selling in the fourth quarter on worries that US President-elect Donald Trump’s trade policies may harm Asian economies. They sold a net $15.8 billion worth of stocks in Taiwan, South Korea, India,Continue Reading
(Reuters) – Microsoft (MSFT.O), opens new tab, plans to invest around $80 billion in fiscal 2025 to create data centers for training artificial intelligence (AI) models and deploying AI and cloud-based services, according to a blog post published on Friday. Investment in AI has increased since OpenAI launched ChatGPT inContinue Reading
ISLAMABAD: In a significant development, Pakistan’s new Special Investment Facilitation Council (SIFC), a hybrid civil-military forum, has in principle approved 28 projects worth billions of dollars that would be offered to Gulf countries for investment, including the construction of the Diamer-Bhasha dam and mining operations at Reko Diq in theContinue Reading
KARACHI ( Reuters/Web Desk )- Shell Pakistan Limited (SPL) said on Wednesday that its parent firm, Shell Petroleum firm, which controls 77% of the local organisation, will leave the country, without specifying how much stake would be disposed of. The action comes after the firm experienced huge losses in 2022Continue Reading
ISLAMABAD : The bilateral commerce between Pakistan and the United Arab Emirates is anticipated to double from the $10.6 billion volume attained in 2021–2022, according to Faisal Niaz Tirmizi, Pakistan’s ambassador to the UAE. He said, “The potential is far bigger,” while speaking to an Emirates News Agency. The politicalContinue Reading
Khyber-Pakhtunkhwa Water Resources Development Project has been given the Asian Development Bank’s (ADB) approval, and $3.60 million in concessional ordinary capital resources financing has been provided. According to the project documentation, the Pakistani government asked the ADB for Project Readiness Financing (PRF) to get the Khyber-Pakhtunkhwa Water Resources Development ProjectContinue Reading
Escorts Investment Bank has cancelled another sale-purchase deal with three prospective investors on behalf of its primary sponsor, Bahria Town (Private) Limited.According to the PSX notification, Escorts Investment Bank Limited has received a notice from Bahria Town (Private) Limited for the termination of the share sale and purchase agreement datedContinue Reading
Salman Iqbal, the owner of the ARY Group, has emerged as an aspirational investor in the loss-making Summit Bank.After rescinding his proposal to invest in the telecom industry, which eventually ended after lengthy discussions between ARY and WorldCall, the broadcaster has chosen to try his luck in the banking sector.Continue Reading
