Collective proceedings could involve tens of millions of Apple users over iCloud services LONDON: Britain’s competition tribunal has approved a £3 billion ($4 billion) lawsuit against Apple over its iCloud storage service, consumer group Which? said on Tuesday, clearing the way for tens of millions of consumers to join a collective action. The Competition Appeal…
CCP says Kemyion not operational in Pakistan, transaction won’t affect market concentration ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved the acquisition of 100% shareholding of BASF Pakistan (Private) Limited by UAE-based Kemyion Chemical Solutions Trading FZCO following a Phase-I review under the Competition Act, 2010, according to a statement issued on Tuesday. Kemyion…
Govt okays Rs5b share, AD Ports refuses to absorb 2,545 workers forcing KPT to bear Rs19b liability ISLAMABAD: The government has moved to lay off around 2,545 dock workers of the Karachi Dock Labour Board (KDLB) after AD Ports refused to take their services. These workers, employed for over 50 years, will cost approximately Rs24…
KARACHI: The Pakistan Stock Exchange (PSX) ended lower on Tuesday as investors adopted a cautious stance amid a lacklustre trading environment, with the absence of a strong catalyst prompting profit-taking in key sectors. The market opened on a positive note, with buying interest witnessed across cement, commercial banks, oil and gas exploration companies, oil marketing…
Companies embrace flexible, inclusive, employee-centric cultures amid HR competition KARACHI: As Pakistan’s Gen Z workforce enters offices in growing numbers, companies are being forced to rethink decades-old workplace practices, shifting away from rigid hierarchies and long-hour cultures towards more flexible, inclusive and employee-centric models to attract and retain talent in an increasingly competitive labour market….
KARACHI: In a country where women-owned businesses remain significantly underserved by formal financial institutions, the Securities and Exchange Commission of Pakistan’s (SECP) approval of the country’s first digital financing product exclusively for women-led micro, small and medium enterprises (MSMEs) could mark an important test for financial inclusion efforts. The newly approved “Khudmukhtar Khatoon” financing facility…
Footwear, bags taxed on notional retail prices instead of actual transaction values LAHORE: The Chainstore Association of Pakistan (CAP) has expressed serious concern over the proposed inclusion of non-FMCG items, including everyday footwear, school backpacks, bags, wallets and other PCT 42.02 goods, in the Third Schedule of the Sales Tax Act, 1990, warning that the…
ISLAMABAD: After 58 years, Pakistan has decided to exempt the income of the Quaid-e-Azam Mazar Management Board from tax and is also set to legally allow traders to exit the optional fixed income tax scheme just one year after opting in. These amendments are part of the Finance Bill 2026, which Finance Minister Muhammad Aurangzeb…
NEW DELHI: Tata Electronics said on Monday it had detected a recent “cybersecurity incident”, after researchers said World Leaks posted purported component design and specification papers of Apple and Tesla, both customers of the Indian group. The ransomware group has posted more than 200,000 files on the dark web, the security researchers told Reuters. “A…
KARACHI: The Pakistan Stock Exchange (PSX) witnessed a volatile trading session on Monday, with the benchmark KSE-100 index swinging between gains and losses before ending the day in the red, as investors booked profits after an early rally inspired by positive regional market sentiment. Taking cues from a broad-based advance across Asian equities, the market…