Globe Residency REIT has announced a cash dividend of Rs4.00 per unit for the year ended June 30, 2026. The payout equals 40% of the unit’s Rs10 face value. This is GRR’s fourth consecutive annual distribution since its listing on the Pakistan Stock Exchange in December 2022. The scheme paid Rs3.50 per unit in FY2025, Rs1.75 in FY2024 and Rs3.00 in FY2023. With the latest declaration, cumulative distributions since listing have reached Rs12.25 per unit. The REIT has 140 million units outstanding, according to PSX and Arif Habib Dolmen REIT Management data. At Rs4.00 per unit, the FY26 dividend represents a total cash payout of about Rs560 million. Fourth Straight Annual Payout Globe Residency REIT trades on the PSX under the symbol GRR. The exchange listed the scheme on December 28, 2022. Its opening price was Rs10 per unit. PSX records say GRR operates under a trust deed signed in December 2021. Arif Habib Dolmen REIT Management Limited serves as the REIT Management Company. Central Depository Company of Pakistan Limited acts as trustee. Read More: Why Pakistan’s Housing Scheme Is Struggling to Deliver Homes Arif Habib Dolmen REIT Management is a joint venture between Arif Habib Group and Dolmen Group. The company has operated as a REIT management firm since 2009. GRR’s earlier annual reports confirm the Rs3.00 distribution for FY2023 and Rs1.75 for FY2024. Arif Habib Corporation’s FY2025 presentation said GRR had paid Rs8.25 per unit through FY2025. That figure matches the three annual payouts made before the latest dividend. Project Built Around Naya Nazimabad Apartments The underlying Globe Residency Apartments project sits within Naya Nazimabad, Karachi. The original scheme covers 40,500 square yards and includes nine residential towers. PSX filings described the development as a 1,344-apartment project when GRR entered the market. The scheme gives investors exposure to the development and sale of residential units. When the public offering opened in December 2022, Javedan Corporation offered 14 million units to investors. Those units represented 10% of the scheme. The offer price stood at Rs10 per unit. At the time, the REIT fund size was Rs2.8 billion. Business Recorder reported that the project cost was estimated at Rs20 billion. South Asia’s First Listed Developmental REIT GRR became Pakistan’s first listed developmental REIT when trading began on the PSX in December 2022. VIS Credit Rating Company has also described GRR as South Asia’s first listed developmental REIT. Arif Habib Dolmen REIT Management also has a longer history in Pakistan’s REIT market. The firm launched Dolmen City REIT in 2015, which it describes as South Asia’s first listed REIT. Read More: $1200 New York Tiny Apartment Goes Viral Over 44 Sq Ft Space The latest FY26 dividend extends GRR’s four-year record of annual cash distributions. It also lifts cumulative payouts above the original Rs10 listing price per unit. For investors, the declaration highlights cash returns generated during the project’s development cycle. It also adds another payout milestone for Pakistan’s developing listed REIT market.
inDrive Reports 54% Surge in Pakistan Summer Travel
Pakistanis are increasingly heading towards northern tourist destinations during the summer, with inDrive reporting a sharp rise in intercity travel. The mobility platform recorded a 54% increase in intercity rides during the first half of 2026. Distance travelled through the service also increased by 54% compared with the same period last year. According to inDrive, much of the growth came as families travelled north during the school summer break. Demand peaked through June and July as travellers sought cooler destinations away from hotter cities. The trend builds on strong growth recorded by inDrive’s intercity business in Pakistan last year. In 2025, the company reported a fourfold rise in its City-to-City service. Trips to Murree increased by 75% between April and June that year. Murree, Naran and Swat Among Top Summer Routes Routes linking Islamabad with popular hill stations ranked among the busiest on inDrive during the first half of 2026. Murree, Nathia Gali, Abbottabad, Naran, Muzaffarabad and Swat featured among the most popular destinations. The Islamabad to Murree route showed a particularly clear weekend travel pattern. Orders peaked on Saturdays at around 11 AM, according to the company’s data. Read More: Pakistan Couriers Warned as inDrive Blocks 80,000 Fraud Accounts Murree has traditionally been one of Pakistan’s leading summer resorts. Pakistan Tourism Development Corporation describes Murree and the Galiyat region as among the country’s most popular summer destinations. Travel demand on northern routes has also risen during major holidays. During Eid 2026, inDrive reported a 1.5 times year-on-year increase in intercity rides across Pakistan. Fares Start From Rs4,000 From Islamabad inDrive also shared estimated one-way fares for travellers planning journeys from Islamabad. An average one-way trip from Islamabad to Murree starts at around Rs4,000. The estimated fare for Islamabad to Naran reaches about Rs11,500. The company said displaying estimated fares gives passengers greater price clarity before they begin their journeys. Read More: inDrive Joins WEF Unicorn Club, Puts Pakistan on Global Tech Map Unlike many conventional ride-hailing services, inDrive allows passengers and drivers to negotiate fares directly. Its app also supports intercity journeys alongside city rides and delivery services. The company has expanded rapidly since entering Pakistan in 2021. By early 2026, it offered ride-hailing services in more than 20 Pakistani cities and intercity services across over 200 locations. Shared Rides Gain Popularity Shared Rides also accounted for a larger portion of intercity journeys this summer. Their share of completed trips rose from 14.9% last year to 18.0% in 2026. The service allows passengers travelling in the same direction to share a vehicle, potentially reducing the cost of longer journeys. “Families are choosing inDrive because it’s affordable and takes them door-to-door without the stress of driving,” said Awais Saeed, Country Manager, inDrive Pakistan. The latest figures indicate that summer tourism and family travel are becoming an increasingly important part of Pakistan’s app-based intercity transport market. For inDrive, northern destinations such as Murree and Naran are emerging as key seasonal routes as more travellers look for flexible alternatives to buses and private driving.
Systems, Sazgar and Murree Brewery Join Forbes Asia’s Elite 200
Three Pakistani companies have secured places on Forbes Asia’s prestigious Best Under A Billion 2026 list. Murree Brewery Company Limited, Systems Limited and Sazgar Engineering Works represent Pakistan among 200 top-performing listed companies from the Asia-Pacific region. Forbes selected the companies from a pool of more than 19,000 publicly traded businesses. Eligible firms had annual sales above $10 million and below $1 billion. “The small and midsized companies appearing on Forbes Asia’s Best Under A Billion list are successfully navigating the challenges of geopolitical tensions and volatile energy markets,” Forbes said. “These 200 publicly listed Asia-Pacific companies, with sales above $10 million and below $1 billion, delivered strong financial metrics,” it added. Murree Brewery and Systems Limited Make the Cut Forbes reported sales of $102 million for Murree Brewery, with a market value of $92 million. Murree Brewery dates back to February 1861 and is one of Pakistan’s oldest listed businesses. It manufactures alcoholic and non-alcoholic beverages, juices, mineral water, glass products and other food products. Pakistan Stock Exchange data shows that the company recorded sales of Rs28.56 billion during fiscal year 2025. Profit after tax reached Rs3.26 billion. Read More: Sazgar Engineering Plans Rs1.47 Billion Real Estate Investment in Lahore Systems Limited also earned a place on the Forbes list. The technology company recorded sales of $286 million and a market value of $759 million, according to Forbes. Systems provides software development, digital transformation and business process outsourcing services. Its own FY2025 figures show revenue of $286 million, up 18% from the previous year. Net profit reached $39.6 million, an increase of 46%. The company operates across Pakistan, North America, Europe, the Middle East and other international markets. Sazgar’s Growth Earns Forbes Recognition Sazgar Engineering Works was the third Pakistani company on the 2026 list. Forbes reported sales of $389 million and net income of $58 million for the Lahore-based manufacturer. Sazgar started as a private limited company in 1991 and became a public limited company in 1994. Its business includes automobiles, automotive parts and household electronic appliances. Read More: Pakistan Auto Market Gets New Hybrid Option as Sazgar Opens TANK-500 Bookings The company has expanded significantly through its partnership with Chinese automaker Great Wall Motor. It manufactures and assembles Haval sport utility vehicles in Pakistan. Sazgar completed trial operations for Haval vehicles in 2022 and announced its first locally assembled rollout for August that year. The move into four-wheel vehicles has since become a major part of its growth story. How Forbes Selects the Best Companies Forbes Asia’s Best Under A Billion list is unranked and focuses on long-term corporate performance. Forbes evaluates factors such as debt, sales growth and earnings-per-share growth. It examines performance over both one-year and three-year periods. The selection process also considers one-year and five-year average returns on equity. Forbes applies additional screening for governance, accounting, environmental and management concerns. The 2026 list used the latest publicly available annual results as of July 10. Forbes also used stock prices on that date to calculate market values. Forbes said technology-related companies feature heavily this year as businesses benefit from the global AI boom. Companies linked to electric vehicles and renewable energy are also gaining ground. The inclusion of Murree Brewery, Systems Limited and Sazgar gives Pakistan representation across consumer goods, technology and automotive manufacturing.
Burglar Demands $10 Million After Store Owner Shoots Him
A man shot three times after breaking into a Portland granite shop is suing the business owner for $10 million. Kenneth Voyles filed the lawsuit on May 6 against James Grant and Touchstone Granite & Marble Inc. in Multnomah County Circuit Court. He seeks $5 million in compensatory damages and another $5 million in punitive damages. The complaint accuses Grant of battery, assault, negligence and intentional infliction of emotional distress. A jury trial began on August 10. What Happened Inside the Portland Shop The confrontation occurred early on March 6, 2023, at Touchstone Granite & Marble on Northeast Columbia Boulevard. Voyles said he was homeless, cold and exhausted when he entered through a damaged garage bay door. He said he wanted food and somewhere warm to stay. Court filings show that Voyles acknowledged trespassing. He also admitted taking a drill bag that he intended to keep. According to his lawsuit, Grant emerged from a back room while Voyles was inside. Voyles claims he apologised and tried to leave, but Grant threw a coffee mug and heavy tiles at him. Read More: Islamabad and Lahore Rank Safer Than London and New York Voyles then picked up bolt cutters. He says he wanted to use them to get through a locked exit. He alleges Grant retrieved a handgun and opened fire as he tried to escape. “I go, ‘Stop!’ Like, ‘Please stop!’” Voyles told jurors. “And he goes, ‘You’re going to die,’” he claimed. Three shots struck Voyles in the arm and torso. He suffered a collapsed lung and severe damage to his right arm. Shattered bones required several surgeries. Shop Owner Says He Acted in Self-Defence Grant has given a sharply different account. He testified that Voyles raised heavy bolt cutters over his head and moved toward him. Grant said he believed he faced an imminent attack and fired to protect himself. In an earlier interview, Grant said: “It went right through my brain that he was ready to attack me.” Grant holds a concealed-weapons permit. He said he ordered Voyles to get on the ground before firing. Police and prosecutors did not charge Grant after the shooting. Voyles was later convicted of first-degree burglary and menacing over the incident. $10 Million Lawsuit Focuses on Use of Force Voyles argues that Grant continued firing while he was trying to flee. His lawyers say the key question is whether each use of force was legally justified. Oregon law allows physical force to stop criminal trespass when a person reasonably believes it is necessary. Deadly force faces stricter conditions under state law. It can be justified in self-defence when a person reasonably believes another person is using or about to use unlawful deadly physical force. The lawsuit also seeks to hold Touchstone liable for Grant’s actions while securing the business. Grant’s defence maintains that the shooting was lawful self-defence. The civil trial will decide whether jurors agree or find his response excessive.
Meet the 10-Year-Old Who Built an AI Nose to Detect Drugs
A 10-year-old Taiwanese student has won major international recognition for an AI “electronic nose” that could improve airport baggage screening. Hsu Ting-wei, a student at Kang Chiao International School, won a gold medal at the 2026 Silicon Valley International Invention Festival in California. He also received the International Federation of Inventors’ Associations’ Best Invention Award. The festival took place at the Santa Clara Convention Center from August 14 to August 16. Its official programme included exhibitions, judging and an awards ceremony. AI ‘Electronic Nose’ Could Detect Drugs and Disease Risks Hsu calls his invention the “Novel Artificial Electronic Nose.” The contactless security platform combines real-time air sampling, gas chromatography-mass spectrometry and AI-based odor recognition. Authorities could install it behind existing X-ray baggage screening equipment at airports. The system would analyse airborne chemical traces linked to screened luggage without requiring direct contact with its contents. Read More: Teen Invents AI Device That Could Treat Crossed Eyes Without Surgery Hsu hopes the technology could stop pork products carrying African swine fever from entering countries. He also believes it could help US authorities detect drugs such as fentanyl at borders. Jury chairman Amin Ghafooripour said Hsu received the honour because judges saw practical value in his work. “Hsu’s award wasn’t handed out simply as encouragement due to his age, but reflected genuine recognition from the jury, who saw real practical value in the invention and were left with a strong impression by his work.” Taiwan Records Strong Showing at SVIIF Hsu was among several Taiwanese inventors who secured major honours at the event. The festival attracted participants from more than 30 countries. It featured general inventors alongside young competitors aged seven to 18. Taiwanese students won the Youth Talent Competition with “AllerDetect GO.” The health system targets children, older adults and people prone to allergies. It combines allergen detection, alerts, record-keeping and smart-home responses to help users identify possible risks earlier. A team from the Affiliated Senior High School of National Taiwan Normal University took second prize in the youth competition. Baichao Greenergy Tech Co also received a special award from the World Intellectual Property Organization in the general inventors category. Taiwan finished the festival with 24 gold medals, eight silver medals and one bronze from 35 entries. The 24 gold medals marked Taiwan’s highest total since it first participated in SVIIF in 2018. Young Inventors Draw Praise SVIIF board committee member Matt Nuccio praised Taiwan’s performance, particularly the work of younger participants. “Taiwan had quite a few great innovations,” Nuccio said. He also expressed surprise at the quality of projects produced by inventors at such young ages. Ghafooripour highlighted another pattern among Taiwanese participants. Read More: Chinese EV Maker Patents Voice-Controlled Toilet Hidden Under Car Seat “Ghafooripour added that Taiwanese inventors tended to focus on applying new technologies toward practical solutions aimed at making everyday life easier for people.” Hsu’s award reflects that approach. His invention combines AI with established chemical-analysis technology to address airport security, disease prevention and illegal drug detection. It also shows how younger inventors are increasingly using advanced technology to tackle practical public-safety challenges.
TikTok May Soon Turn Your DMs Into a Payment App
TikTok is exploring a peer-to-peer payment feature that could allow users to send money directly through private messages. The proposed system would use TikTok Pay. It already offers the payment service in Southeast Asia for purchases made through TikTok Shop. The feature could push TikTok further beyond social networking and into digital payments. It would also bring the platform into closer competition with services such as Venmo, Zelle and X Money. Hidden Code Reveals TikTok Payment Feature References to the payment feature appeared in hidden code inside the current version of TikTok’s U.S. iPhone app. The code indicates that users could send money through direct messages. Recipients would then be able to “tap to accept” the payment. Senders could also attach a message to a transaction, creating an experience similar to Venmo. Read More: TikTok Live Streamers Are Damaging Our Children, Hina Parvez Butt However, users should not expect the feature immediately. It is not currently testing the payment system. That indicates the product remains at an early development stage. The company has not announced a launch date or confirmed whether it will eventually release the feature widely. TikTok Pushes Further Into Financial Services Peer-to-peer payments would add another financial tool to TikTok’s expanding ecosystem. The company has already taken steps toward entering regulated financial services in other markets. Reuters reported in March that TikTok had applied for two financial licences from Brazil’s central bank. TikTok’s Chinese parent company, ByteDance, controls the platform. One licence would allow TikTok to operate as an electronic money issuer. That could let users hold balances, receive funds and make payments inside the app. Read More: UK TikTok Star’s Dubai Murder Case Sparks Global Attention The second would allow the company to operate as a direct credit company. Under that model, TikTok could lend its own money or connect borrowers with lenders. ByteDance already operates Douyin Pay in China through Douyin, the Chinese version of TikTok. The company launched that service in 2021 to support e-commerce. TikTok has also expanded its main platform beyond short videos. It now offers search, TikTok Shop, games, local discovery tools and hotel booking features. TikTok Could Challenge X Money, Venmo and Zelle TikTok’s payment ambitions come as other social platforms also move deeper into financial services. X recently started rolling out X Money to select users in the United States. The service allows users to send money directly to other people on X without fees or transfer limits. X Money also offers features including direct deposit, a Visa debit card and interest on eligible balances. If TikTok eventually launches payments through DMs, the company could combine social interaction, online shopping and money transfers inside one platform. For now, however, TikTok has only confirmed that it is not testing the feature. Its eventual launch, availability and supported markets remain unclear.
Why Pakistan Won’t Impose More Fines on Telecom Companies
The federal government has ruled out additional fines for telecom operators over weak signals, poor internet quality and service disruptions. Officials say Pakistan’s existing regulatory framework already gives the telecom regulator powers to act against operators that fail to meet required standards. Federal Minister for Information Technology and Telecommunication Shaza Fatima Khawaja outlined the government’s position in the National Assembly. Read More: Pakistan Makes Bold Rs3 Billion Move Toward Solar Powered Telecom She responded after MNA Nasim Ali Shah raised concerns about telecom services in Bannu and other underserved areas. National Assembly records list Shah as the member for NA-39 Bannu. Shah asked whether mobile operators were charging customers full tariffs despite weak network coverage and substandard data services. Khawaja said telecom companies charge customers according to their advertised tariffs. Their licences also require them to meet Quality of Service standards set by the Pakistan Telecommunication Authority. She added that some operators offer location-based or regional packages at discounted rates. Such offers depend on commercial considerations and market conditions. Existing PTA Powers to Remain in Place The minister said the government is not proposing a separate policy for additional penalties at present. She said the existing framework already empowers PTA to act when operators breach licence conditions or fail to meet Quality of Service requirements. PTA can issue warning letters and Show Cause Notices. It can also impose financial penalties for non-compliance. Read More: PTA to Block SIM Cards Linked to Expired or Invalid CNICs According to figures shared by the minister, PTA conducted more than 500 Quality of Service surveys during the past four years. These covered cities, rural areas, highways, motorways and railway routes. The regulator also carried out more than 200 complaint-based surveys during the same period. PTA issued 20 warning letters and 86 Show Cause Notices to telecom operators. It also imposed financial penalties worth Rs 3.41 billion for violations and non-compliance. Tougher Service Standards After Spectrum Auction The government has also tightened telecom licence conditions following the recent spectrum auction. The updated framework includes higher Quality of Service benchmarks and additional 4G and 5G rollout requirements. Pakistan completed the allocation stage of its NGMS and 5G spectrum auction in March 2026. Jazz, Ufone and Zong participated, while PTA sold a total of 480 MHz across several frequency bands. The auction framework also introduced tougher service-quality targets. For 2026 to 2028, operators must achieve a median downlink speed of 20 Mbps for 4G and 50 Mbps for 5G. Rollout requirements call for advanced mobile technology across at least 1,000 sites each year. At least 20 percent must be completely new sites aimed at helping close coverage gaps. The government’s position means customers facing weak mobile signals or poor internet will continue to rely on PTA’s existing enforcement system instead of a new penalty regime. Authorities expect stricter licence conditions, additional spectrum and wider network expansion to improve telecom service quality and coverage across Pakistan.
