KARACHI: Engro Energy Ltd (EEL), a wholly owned subsidiary of Engro Corporation Ltd, has entered into a share purchase agreement (SPA) with Liberty Power Holding (Pvt) Ltd and a consortium to sell its thermal energy assets portfolio. The consortium consists of Liberty Mills Ltd, Soorty Enterprises, and Procon Engineering through Master Group of Industries. Selling thermal assets is part of …

LAHORE: A report has found a surge in the technology-facilitated gender-based violence (TFGBV) in Pakistan in 2023 with nearly 2,500 cases reported in the year with significant rise of such complaints by women and marginalised groups. The year saw another alarming trend, i.e. the use of generative AI content for violence against women in the public sphere near the general …

BARCELONA: Rafael Nadal withdrew from the upcoming Monte Carlo Masters on Thursday, where the 22-time Grand Slam winner was expected to make his ATP Tour comeback, saying his body is not yet ready for competition. The 37-year-old Spaniard, who has said he expects to retire after the 2024 season, returned to competition in Brisbane in January, after almost a year …

RIYADH: The season-ending WTA Finals will be held in Saudi Arabia’s capital Riyadh from 2024-26, the women’s tennis body said on Thursday, ending months of speculation and marking the Gulf country’s latest foray into the sport. Riyadh will host the season finale — which features the top eight singles players and doubles teams — from Nov 2-9 and replaces last …

LAHORE: Criticising the Pakistan Cricket Board moves to remove Babar Azam and then Shaheen Shah Afridi as captain, former skipper Misbah-ul-Haq says the manner in which these decisions were taken disturbs the entire set-up of the team. “[First] the way Babar was removed as captain was wrong, and now Shaheen was replaced [with Babar] in haste. Both are wrong ways …

LAHORE: Pakistan Cricket Board (PCB) chairman Mohsin Naqvi is furious over the way the board’s officials have handled the injury of young fast bowler Ihsanullah, the Press Trust of India (PTI) news agency reported on Thursday. Ihsanullah, 21, made a big impact in last year’s Pakistan Super League with his pace and subsequently went on to make his debut in …

ISLAMABAD: Federal Minister for Privatisation Abdul Aleem Khan has called PIA “an attractive opportunity” for local and international investors, especially after restructuring its liabilities. Chairing a meeting of the Privatisation Commission Board on Thursday, the minister hoped that Pakistani businesses would show their interest in acquiring the national airline. The Privatisation Commission Board, in the two sessions held on April …

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Thursday imposed a fine of Rs50 million each on five power distribution companies including K-Electric for carrying out commercial-based excessive loadshedding in violation of laws penalising honest consumers. It is for the first time the regulator has moved from issuing warnings against collective punishments in the power sector which started more …

ISLAMABAD: In a rare development, the Federal Board of Revenue (FBR) has notified an incentives-laden scheme offering privileges and facilities to top exporters and taxpayers. The Pakistan Honour Card Scheme was notified through SRO469 on Thursday. The benefits include expedited clearance at immigration offices, issuance of diplomatic passports and access to VIP lounges at airports. The cards will be issued …