BEIJING – (Reuters) According to public documents, China’s state-backed chip investment fund invested 14.56 billion yuan ($1.99 billion) in Changxin Xinqiao, a memory chip business. According to an Oct. 26 update to the company’s registration information on the National Enterprise Credit Information Publicity System (NECIPS), the China Integrated Circuit IndustryRead More →
FRANKFURT (Reuters ). In September, eurozone inflation fell to its lowest level in two years, indicating that the European Central Bank’s steady diet of interest rate rises was successful in containing runaway prices, but at an increasing cost to economic development. According to Eurostat’s flash estimate issued on Friday, consumerRead More →
The SECP empowers the Islamic Finance Commissioner to issue Shariah Compliance Certificates.On Friday, the commission issued S.R.O. 1349 (I)/2023, formally empowering the Commissioner of the Islamic Finance Department to provide Shariah compliance certifications to enterprises in a defined format known as Form B. This initiative is part of SECP’s continuousRead More →
Telenor Microfinance Bank, operator of Pakistan’s premier digital financial services platform, easypaisa, has acquired In-Principle Approval (IPA) for a Digital Retail Bank (DRB) license from the State Bank of Pakistan (SBP) under the Licensing and Regulatory Framework for Digital Banks.This outstanding achievement positions TMB as a digital bank set toRead More →
OSLO (Reuters): In a case that might have wider European repercussions, Meta Platforms (META.O) petitioned a Norwegian court on Tuesday to quash a punishment that Norway’s data authority had levied on the company behind Facebook and Instagram for violating user privacy. Since August 14, Meta Platforms has been subject toRead More →
Belgium (AFP) – When the harshest EU regulations on online material since social media first took off take effect on Friday, the biggest digital corporations in the world won’t have somewhere to run. The historic law is a tool in the legal toolbox of the European Union, which is beingRead More →
NEW YORK (Reuters) Tuesday saw a decline in the value of some US banks’ shares after S&P Global and Moody’s both lowered the credit ratings of a few regional lenders with significant exposure to the commercial real estate (CRE) market. A banking sector trying to emerge from a crisis earlierRead More →
With 25,516MW produced on Monday, Pakistan generated more energy than any other day in its history.The Ministry of Energy just provided an update, stating that on August 21, electricity generation shattered all prior records. The highest-ever power generation of 25,516MW was reported on August 21 during 24 hours. This generatedRead More →
After starting the day’s trading at 297.8 versus the US dollar in the interbank market, the Pakistani rupee plunged to a new record low today.It was negative at 12 PM, shedding 1 rupee to the dollar and dropping as low as 298 after caving in to opening-bell bears. Later, betweenRead More →
Zindigi Prize, a revolutionary entrepreneurial competition, was a great success at the Ghulam Ishaq Khan Institute of Engineering Sciences and Technology (GIKI) during its KPK Regionals.The event, which was organized by Zindigi and co-hosted by GIKI, has emerged as a major changer in the country’s business environment. Following the overwhelmingRead More →
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