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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 […]
Legendary Pakistani fast bowler Shoaib Akhtar, known for his record-breaking 161.3 kph delivery in the 2003 World Cup, has revealed an unexpected ambition. During a recent podcast, Akhtar expressed his desire to become the first Pakistani billionaire in terms of US dollars, a goal he is pursuing through his ventures in broadcasting and social media. […]
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 […]
Mark Zuckerberg’s Meta has confirmed a $1 million donation to President-elect Donald Trump’s inaugural fund, as reported by multiple outlets on Wednesday. This development comes after Zuckerberg, 40, met with Trump, 78, at the president-elect’s Mar-a-Lago estate in Florida. The meeting, seen as an effort to bridge past tensions, underscores a potential shift in the […]
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 withdrawn its proposed changes to the Baggage Rules of 2006 following significant public backlash and media criticism. The amendments, which included a $1,200 limit on goods brought into Pakistan and a restriction allowing only one mobile phone per person, sparked widespread confusion and concern. The FBR clarified in […]
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 […]
