Disney-Reliance $8.5 billion merger undergoes scrutiny | The Express Tribune
NEW DELHI: India’s Competition Commission (CCI) has raised concerns over the $8.5 billion merger between Reliance and Walt Disney’s media assets, specifically regarding the impact on competition due to their control over cricket broadcasting rights, according to sources familiar with the matter told Reuters. The development marks a significant challenge for the merger, which aims […]
‘PSDP likely to be slashed by additional Rs400 billion’ | The Express Tribune
Federal Minister for Planning, Ahsan Iqbal, has indicated that the Public Sector Development Programme (PSDP) may face further cuts, with the budget potentially being reduced by an additional 200 to 400 billion rupees. In an interview with Express News, Ahsan Iqbal explained that due to Pakistan’s ongoing economic challenges, the current development budget is insufficient […]
Google antitrust ruling may pose $20 billion risk for Apple
A women uses an iPhone mobile device as she passes a lighted Apple logo at the Apple store at Grand Central Terminal in New York City, US, April 14, 2023. — Reuters Apple’s lucrative deal with Google, could be under threat after a US judge ruled that the Alphabet-owned search giant was operating an illegal […]
DISCOs question efficacy of Rs73 billion project | The Express Tribune
LAHORE: The Power Division and ex-WAPDA DISCOs are in conflict over the implementation of the Rs73 billion “Asset Performance Monitoring System” project as the two sides have conflicting views on its effectiveness. In a letter sent to the DISCOs, the power division directed the power companies to submit the PC-1 of the project “Asset Performance […]
SIFC initiatives boost Pakistan’s exports to $30.64 billion | The Express Tribune
ISLAMABAD: Pakistan achieved a remarkable boost in its exports during the fiscal year 2023-2024, driven by the efforts of the Special Investment Facilitation Council (SIFC), according to data released by the Pakistan Bureau of Statistics (PBS), The country’s export of goods soared by 10.54%, reaching $30.64 billion, compared to the previous year. While exports increased, […]
Wapda grants Rs21.5 billion contract for Indus Basin’s telemetry system installation
A view of dry bed of Indus River at Hussenabad. — APP/File A contract worth of Rs21.534 billion has been awarded by the Water and power Development Authority (Wapda) for installation of telemetry system at 27 key points on Indus Basin Irrigation System (IBIS) for real-time discharge monitoring. A Joint Venture (JV) comprising CDigital and […]
China and Saudi Arabia expected to roll over $9 billion debt for Pakistan | The Express Tribune
Pakistan is anticipated to secure a rollover of $9 billion in debt from China and Saudi Arabia for the fiscal year 2024-25. In addition, Pakistan is seeking funding for the Diamer-Bhasha Dam project. Sources from the Ministry of Economic Affairs indicate that Pakistan expects a $500 million facility from the Islamic Development Bank for oil […]
IMF to discuss $7 billion bailout for Pakistan in August | The Express Tribune
The International Monetary Fund (IMF) Executive Board is expected to convene in mid-August to discuss the $7 billion bailout package for Pakistan. A staff-level agreement between Pakistan and the IMF was reached on July 12. Sources inside the Ministry of Finance indicate that the IMF board is expected to give its final approval within four […]
FM Aurangzeb heads to China to reschedule $15 billion energy loan | The Express Tribune
Federal Finance Minister Mohammad Aurangzeb is set to embark on a three-day visit to China today, aiming to discuss the rescheduling of a $15 billion energy loan. According to sources from the Ministry of Finance, a joint working group may be established between Pakistan and China to facilitate the loan rescheduling. The discussions will also […]
IPP built for Rs50 billion has received Rs400 billion in payments: FPCCI | The Express Tribune
Abdul Mohamin, the acting president of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has called for public disclosure of details related to agreements with Independent Power Producers (IPPs). During a press conference on Monday, Mohamin highlighted that IPPs are receiving monthly capacity payments amounting to Rs150 billion, including payments to non-operational and […]