Search For "billion"
Pakistan Oil faces financial crisis as receivables soar to PKR 800 billion
Updated : 1 year, 4 months ago IST
Pakistan State Oil (PSO) is confronting a severe financial crisis, with total receivables reaching PKR 800 billion. The crisis is primarily driven by significant debts owed by Sui Northern Gas Pipelines Limited (SNGPL) and other key players in the energy sector.
Read More
Pakistan Airlines gets just one bidder, quotes PKR 10 billion for 60% shar
Updated : 1 year, 4 months ago IST
Pakistan government's attempt to privatise Pakistan International Airlines (PIA) hit a snag as the only bidder, Blue World City, offered PKR 10 billion for a 60 per cent stake--far below the minimum sale price of PKR 85 billion. The bidding process saw no competition after five other parties
Read More
Ras Al Khaimah records significant economic growth
Updated : 1 year, 4 months ago IST
The Department of Economic Development in Ras Al Khaimah has reported substantial growth in economic activity. As of September 2024, the total capital of valid licences registered with the department has surged by 15 per cent to AED 9.26 billion, reflecting an increase of AED 250 million com
Read More
TikTok founder Yiming becomes China's richest man as billionaires dwindle
Updated : 1 year, 4 months ago IST
China has a new richest person: Zhang Yiming, co-founder of TikTok's parent company, ByteDance. His net worth is estimated at USD 49.3 billion.
Read More
Pakistan's 7 billion USD bailout deal with IMF in doldrums
Updated : 1 year, 4 months ago IST
The key assumptions used to finalise Pakistan's USD 7 billion deal with the International Monetary Fund (IMF) has gone haywire within a month of its approval, leaving the authorities concerned with an option either to renegotiate the package or keep suffocating the economy through more taxes
Read More
PureHealth posts AED 1.4 billion net profit in 9 months
Updated : 1 year, 4 months ago IST
PureHealth Holding announced strong financial results for the first nine months of 2024, posting AED 1.4 billion in net profit--a 13 per cent increase year-on-year. Revenue surged by 56 per cent to AED 19 billion, driven by increased patient demand and strategic acquisitions, including Sheik
Read More
MBZUAI releases Nanda giving over half a billion Hindi speakers access to
Updated : 1 year, 4 months ago IST
Abu Dhabi [UAE], October 31: Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) - the world's first graduate-level artificial intelligence (AI) university dedicated to research - has released Nanda, the world's most advanced open-source Hindi large language model (LLM).
Read More
Global gold demand reaches record high value of over USD 100 billion
Updated : 1 year, 4 months ago IST
Investment demand for gold skyrocketed, more than doubling from the previous year to 364 tonnes. This surge was primarily fueled by a shift in demand for gold exchange-traded funds (ETFs) among Western investors, with global gold ETFs adding 95 tonnes--a notable rebound as this marked the fi
Read More
EV makers set to invest USD 20 bn in South and Southeast Asia: S&P Glo
Updated : 1 year, 4 months ago IST
Claire Yuan, S&P Global Ratings credit analyst, said, "By our estimate, rated carmakers will be spending more than US$20 billion building electric vehicle [EV] production in South and Southeast Asia for the next few years. The expansion will likely enhance the business strength of some r
Read More
TripFactory and NexusDMC Parent ORN Ventures Secures $50 Million in Series
Updated : 1 year, 4 months ago IST
Singapore, October 30: TripFactory, a leading global travel platform with a strong presence in India, has raised USD 50 million in Series A funding from a prominent International Corporate Group headquartered in India. This investment values the company at half a billion dollars.
Read More
US-Taiwan Business Council announces support for USD 2 billion defence pac
Updated : 1 year, 4 months ago IST
The arms package, valued at USD 2 billion, is expected to include USD 1.16 billion for missile systems and USD 828 million for radar systems.
Read More
OPEC Fund enhances global partnerships with substantial financing commitme
Updated : 1 year, 4 months ago IST
At the 2024 World Bank-IMF Annual Meetings, the OPEC Fund for International Development announced nearly half a billion dollars in financing commitments to partner countries, aligning with global development goals in energy, climate resilience, and socio-economic advancement.
Read More