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Saudi Arabia, known for its oil-dominated economy, has discovered significant lithium reserves in its oil fields near the sea, marking a major step in diversifying its economic base. This development comes as global demand for lithium, also known as “white gold,” rises due to its critical role in powering electronic devices and electric vehicles. Saudi […]
In a bold move to solidify their position in the global automotive industry, Nissan Motor and Honda Motor have entered merger negotiations, aiming to unite into a single entity by 2025. This strategic partnership is set to reshape the competitive landscape, allowing the companies to better challenge industry giants like Toyota and Volkswagen. The proposed […]
Pakistani-origin American businessman Shahid Khan has been named the world’s richest Muslim by Forbes, with an estimated net worth of $13.6 billion. Khan, known for his remarkable success in the United States, owns the auto parts company Flex-N-Gate and is the proud owner of the NFL’s Jacksonville Jaguars and UK’s Fulham football club. His achievements […]
McLaren Automotive, the renowned British sports car manufacturer, has been acquired by CYVN Holdings, an Abu Dhabi-based investment fund owned by the UAE government. The deal, estimated at £1.2 billion ($2.3 billion AUD), was confirmed by McLaren’s previous owner, Bahrain’s Mumtalakat, which had steadily increased its investment in the company since 2007. The acquisition includes […]
The Federal Board of Revenue (FBR) has launched an investigation into startups that participated in the inaugural season of Shark Tank Pakistan, raising concerns about potential tax discrepancies. According to a LinkedIn post by Ahmed Rauf Essa, CEO of Telemart, several startups have received tax notices, with some facing legal action for allegedly underreporting their […]
Elon Musk has set a new milestone in financial history, becoming the first individual to amass a net worth exceeding $400 billion. According to the Bloomberg Billionaires Index, Musk’s wealth now stands at an astounding $440 billion (£345 billion), surpassing the combined fortunes of Microsoft founder Bill Gates and Amazon’s Jeff Bezos. Musk’s fortune has […]
Elon Musk, CEO of Tesla and SpaceX, has reached an unprecedented milestone, becoming the first individual to accumulate a net worth exceeding $400 billion, according to the Bloomberg Billionaires Index. The surge in Musk’s wealth came after SpaceX finalized a deal allowing investors to purchase up to $1.25 billion worth of insider shares, valuing the […]
The Federal Board of Revenue (FBR) has introduced new restrictions barring international travelers from bringing goods exceeding a value of $1,200 into Pakistan, according to a notification issued on December 6. The changes, proposed under Section 219 of the Customs Act, 1969, amend the Baggage Rules, 2006. The revised rules redefine “commercial quantity” as goods […]
Lahore is gearing up to host Pakistan’s first floating restaurant, a landmark project announced by the Parks and Horticulture Authority (PHA). The restaurant will be built on the canal near Harbanspura, with an estimated cost of Rs 350 million. Once completed, it will offer a unique dining experience, complete with seating areas, children’s play zones, […]
Allen Career Institute, a leading test preparation company in India, is reportedly in advanced discussions to acquire Unacademy, a prominent EdTech startup, for $800 million. This marks a significant drop from Unacademy’s $3.4 billion valuation in 2021, reflecting the struggles faced by many startups in the sector. The $800 million valuation includes Unacademy’s $160 million […]
