Business Archives - Page 5 of 35

Tupperware Files for Bankruptcy After Years Of Ruling Industry

20Sep

By Aqsa Azam1 Comment

Business, Global

Tupperware Files for Bankruptcy After Years Of Ruling Industry

Tupperware Brands Corporation, the iconic maker of food storage containers, filed for Chapter 11 bankruptcy protection in September 2024. Increased raw materials, shipping, and labor costs have also impacted their profitability. Tupperware, once a household name known for its colorful food storage containers, has filed for bankruptcy. The brand, which gained immense popularity in the 1950s through home-hosted "Tupperware parties," has struggled in recent years to maintain its relevance and adapt to changing consumer habits. Despite its efforts to modernize, the company has been hit by falling sales, mounting debt, and a shift in buyer behavior, ultimately leading to its decision to file for bankruptcy. A Glimpse of Glory Days Tupperware was founded in 1946 by Earl Tupper, who int...

Nation Celebrates 12th Rabi ul Awal with Religious Spirit

17Sep

By Aqsa AzamNo Comments

Business

Nation Celebrates 12th Rabi ul Awal with Religious Spirit

Muslims in Pakistan and neighbouring countries are celebrating the 12th Rabi ul Awal with full spirit today. Local administrations of all provinces have decided to curate events to express their love towards Hazrat Muhammad (SAW) on His birthday. On Tuesday, Pakistan celebrated the 12th Rabi ul Awal, marking the birth of Prophet Muhammad (SAW) with great enthusiasm. The country's streets, buildings, and mosques are beautifully adorned with colourful lights. Moreover, Muslims gathered for prayers, processions, and special Milad events. In Karachi, authorities closed major roads for processions, and the city illuminated in honour of the Prophet's (SAW) teachings. Similarly, Rawalpindi and Islamabad saw vibrant decorations, and local communities distributed food to celebrate. Presi...

PTA’s Reversal: X Closure Now an “Unintentional Mistake”

16Sep

By Aqsa AzamNo Comments

Business

PTA’s Reversal: X Closure Now an “Unintentional Mistake”

Pakistan Telecommunication Authority (PTA) has revised its stance on the recent closure of X (formerly Twitter) in the country. In a new statement, the PTA now attributes the closure to an "unintentional mistake" made under pressure. This new explanation suggests that the decision was made hastily or without due consideration. The Pakistan Telecommunication Authority (PTA) is facing criticism from the Sindh High Court (SHC) for changing its stance on the blocking of the social media platform X (formerly known as Twitter). In a new statement, the PTA says that the closure of X was because of an "unintentional mistake" made under pressure. During a hearing on Monday, SHC Chief Justice Muhammad Shafi Siddiqui expressed dissatisfaction with PTA’s sudden reversal of the Interior Ministry...

SBP Announces Winners of New Currency Notes Design

6Sep

By Aqsa Azam1 Comment

Business, Pakistan

SBP Announces Winners of New Currency Notes Design

The State Bank of Pakistan (SBP) has announced the winners of its national competition for the design of new Pakistani currency notes. A panel of judges selected the winning designs from a pool of hundreds of entries. Most sleek and unique entries are submitted by talented artists and designers from across the country. The State Bank of Pakistan (SBP) recently announced the winners of a nationwide competition to design new currency notes for all denominations. This initiative began in January 2024, and by March, SBP had invited artists to submit creative and thematic designs. A panel of experts carefully evaluated the work of many talented local artists and selected several winners. Dr. Shery Abidi got the first prize for the Rs 10 note. While Mirza Sufiyan received the second prize...

SCP Reserves Verdict on Monal Restaurant Case

4Sep

By Aqsa AzamNo Comments

Business

SCP Reserves Verdict on Monal Restaurant Case

The Supreme Court of Pakistan has reserved its decision on review pleas filed in the Monal restaurant case. The case involves allegations of corruption and illegal land acquisition related to the construction of the restaurant in Islamabad. The Supreme Court of Pakistan has reserved its verdict on the review petitions challenging the decision to close restaurants, including the popular Monal Restaurant, within the Margalla Hills National Park. Three-member bench led by Chief Justice Qazi Faez Isa handled the case and heard the arguments. The Chief Justice emphasized the court’s responsibility to protect the environment. He also highlighted that the Margalla Hills National Park is a protected area, not private property. He noted that climate change is a pressing issue and that allowi...