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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The Federal Board of Revenue (FBR) has withdrawn its proposed changes to the Baggage Rules of 2006 following significant public backlash and media criticism.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 […]
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, […]
Google has taken an innovative step to expand its Street View feature by employing a camel named Raffia to capture 360-degree images of Abu Dhabi’s desert. This unique approach was designed to navigate the challenging terrain of the Liwa Oasis, known for its vast sand dunes. Raffia carried Google’s Trekker camera, traditionally operated by humans, […]
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 […]
