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Articles for tag: aircraft, Arif, billion, expand, fleet, Habib, joint, PIAs, plans, takeover, venture

December 25, 2025

News Desk

Arif Habib joint venture plans to expand PIA’s fleet to 64 aircraft after Rs 135 billion takeover

A Pakistan International Airlines (PIA) plane prepares to take off at the Alama Iqbal International Airport in Lahore. — Reuters/File Habib confirms that Fauji Fertilizer has also joined the joint venture. Adding the remaining 25% stake will bring Rs 45 billion to the fund. The government expects to have an airline operating under a new owner by April 2026. Arif Habib, founder of one of Pakistan’s leading business conglomerates, said on Wednesday his joint venture plans to expand the fleet of Pakistan International Airlines (PIA) to 64 aircraft in phases after acquiring a majority stake under the government’s privatization process.

December 20, 2025

News Desk

TikTok to launch US joint venture with Oracle, Silver Lake

New investors will own 50% of the joint venture, existing investors 30.1% and ByteDance will retain 19.9% TikTok, the world’s most popular platform for sharing short videos, has signed binding agreements with three major investors to form a new joint venture in the United States, ensuring its continued presence in the country. The development — confirmed in an internal memo to employees by CEO Shou Zi Chew on Thursday — marks a major step toward resolving years of uncertainty surrounding the app’s future in the US. The deal — set to close on Jan. 22, 2026 — comes after nearly

June 28, 2025

News Desk

Lawyer’s dishes to “Diddy” employee covering the beating of the Cassie Venture Hotel

Sean ‘Diddy’ Combs’ Co-Component & Right Woman for ‘Freak Offs’: What to expect The leader of the staff facilitating Sean ‘Diddy’ Freak Offs over the years, he found himself at the center of attention, after previous dates of the court saw her compared to Ghislaine Maxwell. For those unversed, Maxwell was named a co-consciousness who worked with Jeffrey Epstein to get underage girls combined with the Hollywood elite. In the light of all these lawyers John J. Perlstein turned to Fox News Digital and explained how “weak” these claims make the Diddy case. In his eyes “from what we have

March 12, 2024

News Desk

Joint venture with Chinese solar company to invest $700 million

LAHORE: The shift towards electricity generation through solar energy is becoming a growing trend in Pakistan due to rising electricity prices, which domestic, commercial and industrial users pay through different distribution companies, haunting the general public. Although the trend of installing solar panels by households is not new, many homeowners have previously turned to this cheap way of providing electricity, and some are also taking advantage of the countdown. This rapid development is likely to accelerate further as governments now look to solar power to provide cheap electricity to low-income households. Provincial governments like Punjab have successfully penetrated solar energy

November 28, 2023

News Desk

UAE minerals giant eyeing Pakistani mining venture

KARACHI: The UAE’s largest supplier and importer of raw and value-added minerals, National Trust (NT), has entered into a memorandum of understanding (MoU) with a Pakistani company to develop a strategic partnership with an investment of AED 30 million to mine, acquire and process aluminum ores in Punjab and probably export it to the Middle East. In a filing to the Pakistan Stock Exchange (PSX), Kohinoor Spinning Mills Limited (KSML) announced the development on Monday, saying: “We are in serious discussions with interested parties based in the UAE and Pakistan to convert the company (fabrics) in mining and mineral technology

November 5, 2023

News Desk

Pakistan’s first local currency venture capital fund launched

KARACHI: Pakistan is set to launch its first local currency venture capital fund, aiming to boost the country’s technology sector and support startups. Sai Venture Capital Private, a Lahore-based firm, is leading this initiative, with plans to raise $10 million primarily from local investors. According to a Bloomberg report, Ahsan Jamil, the co-founder of Sai Venture Capital, said the fund is currently 40% committed and recently received approval from the Securities and Exchange Commission of Pakistan (SECP). Jamil emphasized the importance of local investors, stating, “The ecosystem doesn’t grow if you don’t have local smart capital.” This move comes at

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