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Pakistan’s Federal Board of Revenue (FBR) has demanded over Rs.200 million ($700,000) in income tax from streaming giant Netflix. The notice, sent to Netflix’s Singapore office, covers unpaid taxes generated in Pakistan over the past two years. FBR officials claim Netflix earned over Rs.1 billion in Pakistan during 2021 alone, citing its significant subscriber base. […]
The Supreme Court of Pakistan has ordered the closure of restaurants operating within the Margalla Hills National Park, including the popular Monal Restaurant. The court has granted a three-month period for relocation. The decision comes after a lengthy legal battle between the Monal Group and the Islamabad authorities. The court upheld the Islamabad High Court’s […]
Byju’s, the Indian education technology giant once valued at a staggering $22 billion, has seen its valuation drop to zero, according to major investors like BlackRock and HSBC. This dramatic downfall comes after a period of rapid growth followed by mounting legal and financial troubles. Byju’s, known for its sponsorship of the Indian cricket team, […]
Gautam Adani, Chairman of the Adani Group, has overtaken Mukesh Ambani, Chairman of Reliance Industries, to become Asia’s wealthiest individual once again. This news comes according to the Bloomberg Billionaires Index as of June 2nd. Gautam Adani currently holds the 11th spot globally with a net worth of $111 billion, while Ambani follows closely behind […]
In a significant shift within the tech industry, NVIDIA has reached a historic milestone. The company’s market capitalization, a measure of its total market value, has surpassed that of Amazon and Tesla combined. As of today, NVIDIA boasts a staggering $2.75 trillion valuation. This remarkable feat is attributed to NVIDIA’s strategic focus on artificial intelligence […]
In a continuing battle for the world’s second-richest person title, Amazon founder Jeff Bezos regained the spot last week, on Wednesday, according to the latest rankings by the Bloomberg Billionaires Index. This comes just one day after Tesla CEO Elon Musk briefly held the position. Billionaires battle! Top 2 keep swapping Jeff Bezos’s current net […]
Pakistan’s total debt and liabilities have reached an alarming new peak, raising concerns about the country’s fiscal health. According to data released recently, the national debt has ballooned to nearly Rs.81 trillion (approximately $467 billion USD). This staggering figure represents three-fourths of Pakistan’s entire economy and surpasses the limit set by the Fiscal Responsibility and […]
In a significant development, India and Iran signed a 10-year agreement for the development and operation of Iran’s Chabahar port. This strategic move by the Indian government strengthens ties with the Middle Eastern nation. $370 million boost for strategic Chabahar port! Located on the Gulf of Oman in southeastern Iran, Chabahar port offers a vital […]
In response to the ongoing genocide in Gaza, Pakistani consumers have taken a stand by boycotting international brands perceived to be financially supporting the situation. This movement has led to a surge in support for local businesses, with several companies introducing innovative products to cater to the needs of boycotting consumers. Gaza crisis? Pakistani brands […]
Pakistan’s Federal Board of Revenue (FBR) has implemented a significant increase in withholding tax for individuals who haven’t filed their income taxes. In a move aimed at boosting tax revenue and expanding the tax net, the FBR has raised the withholding tax from 2.5% to a substantial 90% on mobile phone recharges for non-filers. No […]
