Most Authentic News Source
Chinese President Xi Jinping met with top business leaders, including Alibaba co-founder Jack Ma, on Monday. The meeting, held at Beijing’s Great Hall of the People, signals potential reconciliation between the government and private enterprises. This comes as China faces economic challenges such as a real estate crisis, low consumption, and high youth unemployment. Private …
Continue reading “Xi Meets Jack Ma and Business Leaders Amid Economic Slowdown”
Gold prices in Pakistan rose on February 16, 2025, reflecting global market trends. The price of 24-karat gold per tola reached Rs302,200, increasing by Rs1,700. The price for 10 grams of 24-karat gold climbed to Rs259,945, showing a rise of Rs1,458. For 22-karat gold, the price stood at Rs238,283 per 10 grams. International Gold Prices …
Continue reading “Gold Prices Surge in Pakistan Amid Global Market Trends”
A high-level delegation of nine Executive Directors (EDs) from the World Bank Group (WBG) has arrived in Pakistan after nearly 20 years. The delegation will discuss Pakistan’s economic development plans, investment opportunities, and strategies for implementing the recently approved $40 billion Country Partnership Framework (CPF) for the next decade. Meetings with Top Government Officials The …
Continue reading “World Bank Delegation Arrives in Pakistan After Two Decades”
Retail rice prices remain high in major cities despite a significant drop in paddy and export rice prices, according to the Vietnam Food Association. The association’s data shows paddy prices have fallen 40-50% year-on-year, while Vietnam’s 5% broken rice hit a nine-year low at $395 per ton on February 14. Drop in Export Prices Vietnam’s …
Continue reading “Retail Rice Prices Stay High Despite Falling Export Rates”
The Pailot app, a logistics and Web3 innovation within the Pi Network, is ready to go live on the Mainnet. With Pi Network’s Open Mainnet launch set for February 20, 2025, excitement around this launch and the Pi coin’s growing ecosystem is mounting. Pailot’s Role in the Pi Network Ecosystem Pailot combines decentralized logistics with …
Continue reading “Pailot App Set to Launch on Pi Network’s Open Mainnet”
Gold and silver prices saw a decline on Saturday, February 15, 2025. Both local and international markets recorded a downward trend. Gold Prices Fall The price of 24-karat gold per tola dropped by Rs. 4,700, settling at Rs. 301,500. The price of 24-karat gold per 10 grams also fell by Rs. 4,030, bringing it down …
Continue reading “Gold and Silver Prices Drop on February 15, 2025”
Elon Musk has announced plans to partner with Dubai authorities to build a “Loop” underground road network, aiming to transform urban transportation in the congested city. This project, inspired by Musk’s Boring Company system in Las Vegas, could dramatically reduce traffic and enhance mobility for Dubai’s 3.6 million residents. What is the Dubai Loop? At …
Continue reading “Elon Musk Proposes Dubai Loop to Revolutionize Transportation”
FrieslandCampina Engro Pakistan Limited (FCEPL) has released its financial results for the year ending December 31, 2024. The company recorded a 7% increase in net sales, reaching Rs. 107 billion. Strong brand initiatives and growing consumer awareness fueled growth in the first half of the year. However, an 18% sales tax on packaged UHT milk, …
Continue reading “FrieslandCampina Engro Pakistan Reports Financial Results for 2024”
The European Union will invest €50 billion to accelerate AI innovation, aiming to strengthen its position in the global AI race. Commission President Ursula von der Leyen announced this initiative as part of the InvestAI program during the AI Action Summit in Paris. The keyword “AI innovation” underscores Europe’s push to lead in trustworthy AI …
Continue reading “EU to Invest €50 Billion to Boost AI Innovation”
Islamabad: Pakistan and Turkiye signed 24 agreements, Memorandums of Understanding (MoUs), and protocols on Thursday to boost cooperation in various sectors. The signing ceremony took place at the Prime Minister’s House in Islamabad. Prime Minister Shehbaz Sharif and Turkish President Recep Tayyip Erdogan attended the event. Officials from both countries exchanged the agreements to deepen …
Continue reading “Pakistan, Turkiye Sign 24 Agreements to Strengthen Bilateral Ties”
US inflation jumped unexpectedly to 3% in January, reaching its highest level in six months. The rise exceeded the 2.9% predicted by economists, increasing concerns about the cost of living. Price hikes in food and energy played a key role, leaving many Americans facing growing financial pressure. Food and Energy Drive Price Increases Higher food …
Continue reading “US Inflation Rises Unexpectedly to 3% in January”
Karachi: Federal Finance Minister Muhammad Aurangzeb said the International Monetary Fund (IMF) has praised Pakistan’s economic reforms and growth efforts. He highlighted macroeconomic stability as a key achievement of government policies. Aurangzeb shared insights from his meeting with IMF Managing Director Kristalina Georgieva. He said the IMF acknowledged Pakistan’s efforts in implementing reforms under its program. …
Continue reading “IMF Praises Pakistan’s Economic Reforms: Finance Minister Aurangzeb”
The exchange rate of the Pakistani Rupee (PKR) against the US Dollar (USD) saw a slight depreciation on February 12, 2025, indicating a minor shift in currency values. On February 12, 2025, the US Dollar was trading at approximately Rs. 279.5 in the open market. The selling rate stood at Rs. 281.2, reflecting an increase …
Continue reading “Pakistani Rupee Depreciates Against US Dollar on Wednesday”
The Federal Board of Revenue (FBR) has updated its criteria for valuing various types of properties in Karachi, including commercial, industrial, residential, high-rise buildings, and amenity plots. These updates, outlined under Statutory Regulatory Order (SRO) 144(I)/2025, aim to standardize property valuations in the city and align them with current market conditions. Valuation Based on Covered …
Continue reading “FBR Updates Property Valuation Criteria for Karachi”
Gold prices in Karachi have gone up today, February 12, 2025, according to the latest figures from the Pakistan Sarafa Market. Buyers and investors need to be aware of the updated rates, as gold continues to rise in value. As of 10:24 AM today, the price of 24K gold per tola in Karachi has reached …
Continue reading “Karachi Gold Rates Update for February 12, 2025”
Karachi: Visa (NYSE: V) has released a whitepaper emphasizing the benefits of digitizing SME payments. The report highlights over $121 billion in SME B2B transactions ready for digital transformation. Umar S. Khan, Visa’s Country Manager for Pakistan & Afghanistan, stated that SMEs contribute 40% to Pakistan’s GDP and play a crucial role in job creation. …
Continue reading “Visa Urges SME Digital Payments to Unlock $121 Billion”
Islamabad: The Securities and Exchange Commission of Pakistan (SECP) has granted a license to Tamkeen Securities (Pvt) Ltd, the country’s first fully digital, online-only securities broker. This milestone marks a major step in modernizing Pakistan’s capital markets and increasing accessibility for investors. Revolutionizing Brokerage Services Tamkeen Securities will allow investors to open accounts and execute …
Continue reading “SECP Grants License to Pakistan’s First Fully Digital Securities Broker”
Pakistan’s sugar sector is facing widespread mismanagement, leaving sugarcane growers—the real stakeholders—in a state of frustration and exploitation. The millers and middlemen, backed by influential politicians, have been accused of taking advantage of farmers, despite the country’s sugar surplus. Several prominent politicians own sugar mills, while others maintain close ties with millers. This connection creates …
Continue reading “Sugar Sector Crisis: Growers Face Exploitation Amid Mismanagement”
Billionaire Shad Khan has captured attention once again, but this time, it’s not about football. His $360 million megayacht, Kismet, is stealing the spotlight in New Orleans ahead of Super Bowl 2025. Docked in downtown, the massive vessel is turning heads and drawing crowds. According to Yahoo Sports’ Dan Wetzel, Khan considers it a “flex” …
Continue reading “Shad Khan’s $360m Megayacht Becomes a Super Bowl Sensation”
French President Emmanuel Macron is pushing for major artificial intelligence (AI) investments as France prepares to host a high-profile AI summit. Co-hosted with Indian Prime Minister Narendra Modi, the event will explore AI governance, ethical development, and European technological sovereignty. Macron announced that France will receive €109 billion ($113 billion) in AI investments from global …
Continue reading “Macron Promotes AI Investments Ahead of Global Summit”
Prime Minister Shehbaz Sharif has announced further reductions in electricity tariffs for domestic consumers and industries. He assured that reforms in the electricity sector would continue to bring relief to the public. Chairing a review meeting in Islamabad on Friday, PM Shehbaz expressed satisfaction with ongoing reforms in the power sector. He said the measures …
Continue reading “PM Shehbaz Announces Further Cuts in Electricity Tariffs”
The Uyghur Forced Labor Prevention Act (UFLPA) enforcement has intensified, with the U.S. Department of Homeland Security (DHS) adding 37 China-based companies to the Entity List for alleged involvement in forced labor. Among them, 26 operate in the cotton sector, posing significant compliance risks for apparel and textile importers. Businesses sourcing from these entities may …
Continue reading “U.S. Expands UFLPA Entity List: Impact on Apparel”
Pakistan’s exports have become uncompetitive after the government doubled gas prices for in-house power generation. This increase threatens the country’s goal of reaching $60 billion in exports by 2027. The Pakistan Business Council (PBC) raised concerns in a letter to Prime Minister Shehbaz Sharif, warning that higher energy costs could damage both exports and local …
Continue reading “Rising Gas Prices Threaten Pakistan’s Export Competitiveness”
