Pakistan's $457B Informal Economy: Why Businesses Stay Shadow
Pakistan's informal economy is worth $457 billion, 64% larger than the formal sector. Experts like Burhan Mirza explain why businesses resist formalization and suggest solutions.
Category : Corporate News
Fundraiser for Bryan Mansell in Lego dispute tops $300,000
A fundraising campaign for Bryan Mansell, involved in a Lego collection dispute with Bricks & Minifigs and YouTuber Reckless Ben, has surpassed $300,000 amid ongoing legal battles.
Italy Quota for 10,500 Pakistani Workers Over Three Years
Italy has set a special quota for 10,500 Pakistani workers over three years, announced outgoing Italian Ambassador Marilina Armellin at a ceremony in Islamabad.
LuLu Launches SWFT Convenience Stores in Saudi Arabia
LuLu Group introduces SWFT convenience stores in Saudi Arabia, with four outlets at metro stations, fuel stations, and airports, aiming for 100 stores by 2030.
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Saudi Hotel Sector Resilient with Religious Travel Support
Saudi Arabia's hospitality sector showed resilience in Q1 2026, with 66.3% occupancy and 3% ADR growth. Makkah and Madinah led at 78.6% and 81.3% occupancy, driven by Umrah and Ramadan travel.
Hantavirus scare won't deter Filipino seafarers: expert
A labor migration expert says the hantavirus outbreak on a cruise ship will not discourage Filipino seafarers, who are the largest group in global maritime labor.
Barcelona Reaches Agreement for Anthony Gordon Transfer
Barcelona has reached an agreement with Newcastle for the transfer of England international Anthony Gordon for a fee of €70 million plus €10 million in bonuses.
Patreon Rejects Takedown in $200K Lego Dispute
Patreon refuses to remove content from Reckless Ben amid a $200K Lego dispute with Bricks and Minifigs, citing insufficient evidence.
IGP Punjab Gives Laptops to 21 Children of Police Martyrs
Inspector General of Police Punjab distributed laptops to 21 children of police martyrs, reaffirming commitment to support families of fallen officers.
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OICCI Survey Shows Business Confidence Drops Sharply
OICCI's Business Confidence Index fell 9 points to 13% due to Middle East war, inflation, and fuel costs. Services and manufacturing declined, while retail improved slightly.
SECP registers 3,161 new firms in May 2026, single-day record
SECP registered 3,161 new companies in May 2026, setting a single-day record of 415 incorporations. Total registered firms reach 297,239, with IT sector leading growth.
GoFundMe for Lego collector hits $200K amid dispute
A GoFundMe for Oregon collector Bryan Mansell and his father raised over $200K to cover legal fees in a dispute with Bricks & Minifigs over a Lego Star Wars collection worth around $200,000.
Gwadar Port Booms Amid US-Iran Tensions, Reaches 30% Capacity
Gwadar Port's utilisation rises to 30% amid Middle East war, with tariff cuts and new trade routes boosting activity. Pakistan aims to make it a regional hub.
DBS to Open 18 New Wealth Centres in Asia by 2027
DBS Group announces plans to open 18 new wealth centres across Asia by 2027 and upgrade 36 existing ones, targeting the region's growing affluent population.
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KPT recovers 230 acres, modernizes Karachi Port
Karachi Port Trust recovers 230 acres of land, allocates via transparent tenders, and implements reforms to transform the port into a modern transshipment hub, boosting business and efficiency.
Sindh Universities Boost House Ceiling Allowance for Staff
Public-sector universities in Sindh, including Dawood University and Benazir Bhutto Shaheed University, have implemented an 85% increase in House Ceiling Allowance, providing financial relief to staff amid rising living costs.
Joshua Johnson in $200K LEGO Collection Dispute
Joshua Johnson, linked to Bricks & Minifigs, is at the center of a controversy over a $200,000 LEGO collection. YouTuber Reckless Ben's investigation led to legal issues and online debate.
Angola Prioritises Crude Oil Supply to S. Korea
Amid ongoing Middle East tensions, Angola has committed to prioritising crude oil exports to South Korea, ensuring stable energy supplies and strengthening bilateral economic ties.
CM Murad Promises Fair Tax Regime for Insurance Sector
Sindh CM Murad Ali Shah assures a fair tax regime for the insurance sector, aiming to boost investment and economic growth in the province.
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Rising Exports Narrow US Goods Trade Deficit
Pakistan's exports to the US have increased, reducing the goods trade deficit. The trade gap narrowed by 12% in 2024, reflecting stronger export performance.
When Knowledge Becomes a Business
Universities are increasingly treating education as a commercial product, turning students into consumers and weakening academic standards. This shift threatens intellectual growth, devalues grades, and widens social inequality.
Jonas Brothers Restaurant Closes Las Vegas Venue
The Jonas Brothers' family-run Italian restaurant in Las Vegas has permanently closed, marking the end of their culinary venture in Sin City.
7-Eleven Japan Founder Toshifumi Suzuki Dies at 93
Toshifumi Suzuki, the visionary founder of 7-Eleven Japan, passed away at 93. He revolutionized convenience stores in Japan and globally.
EU Plans to Fine Google High Triple-Digit Million Sum
The European Union is preparing to impose a significant fine on Google, potentially reaching a high triple-digit million euro amount, over alleged antitrust violations.
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Industrial Estate Approved for Rawalpindi Ring Road
Punjab Industrial Estates Company approves an industrial estate along Rawalpindi Ring Road, replacing earlier plans for an economic zone due to IMF constraints.
New Town Police recover four stolen vehicles
New Town Police in Rawalpindi recover four stolen vehicles after interrogating a car lifter arrested in an injured condition following an exchange of fire.
Standard Chartered CEO Apologizes for 'Lower Value' Remark
Standard Chartered CEO Bill Winters apologizes after calling employees vulnerable to AI replacement 'lower value human capital', sparking backlash.
UK Migration Falls 171,000 in 2025, Half of 2024 Total
Net migration to the UK fell by 171,000 in 2025, reaching about half of the 2024 figure, according to official data. The decline is attributed to stricter visa rules and policy changes.
Karachi Red Line Road Sinks Days After Opening
A newly opened stretch of Karachi's Red Line project on University Road has developed depressions and raised manhole covers, sparking safety concerns and public outrage over poor construction.
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China Confirms Buying 200 Boeing Jets from US
China has confirmed the purchase of 200 Boeing jets from the US, a major trade deal that could ease tensions between the two nations.
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