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The Pakistani government has unveiled a proposal in its new budget plan to restrict foreign travel for individuals who haven’t filed their income tax returns. This significant move aims to improve tax compliance within the country. Exceptions are included for essential travel needs, such as religious pilgrimages (Hajj and Umrah) and educational pursuits. The proposed […]
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, […]
Pakistan’s Economic Coordination Committee (ECC) approved a series of grants during a recent meeting chaired by Finance Minister Muhammad Aurangzeb. Key beneficiaries include the Pakistan Space and Upper Atmosphere Research Commission (SUPARCO), which received Rs.4.05 billion for its “Pakistan Multi-Mission Communication Satellite System.” This project aims to enhance communication infrastructure across the country. Pakistan Prioritizes […]
Rishi Sunak, the UK Prime Minister, and his wife, Akshata Murty, have seen their wealth rise by £122 million in the past year, as revealed by the Sunday Times Rich List. The couple’s fortune now stands at £651 million, substantially increasing from £529 million in 2023. Rishi Sunak outranks King Charles! This impressive gain is […]
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 […]
Earlier this week, the Pakistan Stock Exchange (PSX) made history by crossing the 70,500 points mark for the first time ever. The PSX’s primary indicator surged an impressive 229.86 points, leaving investors in awe. Bullish trend brings joy to PSX investors! The trading session was marked with heightened activity, indicating a significant rise in investor […]
Mumbai has seized the crown as Asia’s billionaire capital in a monumental shift of wealth dynamics, leaving Beijing trailing behind. With a staggering $1 trillion in collective wealth, India now boasts 271 billionaires, marking its ascent to the third position globally, outpacing even economic powerhouses like Germany. From Bollywood dreams to billionaire realities The latest […]
The Bank of Japan (BoJ) has raised its key short-term interest rate to around 0% to 0.1%, marking its first interest rate hike in 17 years. This move is in response to inflation rates exceeding the central bank’s target of 2% and the biggest wage hike in over three decades by the country’s largest corporations. […]
The State Bank of Pakistan (SBP) has unequivocally rejected recent reports suggesting the issuance of polymer (plastic) banknotes. In a firm statement released on Saturday, the central bank dismissed these claims as “baseless and without substance.” “No change under consideration” Amid speculation about the SBP’s purported plans to introduce plastic currency notes as a measure […]
Pakistan has been facing a significant financial burden in the form of loans with the government requiring an urgent infusion of Rs.7,300 billion to meet its financial obligations. This was disclosed by Minister for Planning, Development and Special Initiatives Ahsan Iqbal, who emphasized the need for decisive action to manage the country’s mounting debt. Economic […]
