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Cryptocurrency has become one of the most attractive investment opportunities in recent years. On February 4, 2025, significant fluctuations were seen in the exchange prices of major digital currencies like Bitcoin (BTC), Dogecoin (DOGE), and Ripple (XRP). These changes provide a snapshot of the latest trends and movements in the cryptocurrency market, reflecting the most …
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The federal government has taken a significant step to ease the financial burden on pilgrims. It has slashed Hajj package costs, offering relief to thousands of devotees. This reduction is expected to bring comfort and joy to those preparing for their sacred journey. The government’s decision aims to make the Hajj pilgrimage more affordable, especially …
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Gold prices surged to a record high on Tuesday. Investors flocked to the precious metal, seeking a safe haven after China retaliated against U.S. tariffs. This move sent shockwaves through the markets, pushing gold to new heights. Spot gold gained 0.7%, reaching $2,834.24 per ounce by 09:23 a.m. ET (1423 GMT), after briefly touching a …
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The Pakistan Stock Exchange (PSX) saw a sharp decline on Tuesday as profit-taking erased early gains, pushing the KSE-100 Index down 810 points. The benchmark index, which opened on a positive note, hit an intra-day high of 113,649.08 before intense selling pressure dragged it to a low of 111,828.11. By the end of trading, it …
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Islamabad: The second attempt to privatize the national airline, PIA, is fully prepared. Several returning bidders and stakeholders are participating in the process. A meeting of the National Assembly Standing Committee on Privatization was held under the chairmanship of Farooq Sattar. The meeting was informed that in the previous phase, bidders had recommended waiving the …
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Islamabad: Pakistan and Saudi Arabia signed two agreements worth $1.61 billion on Monday to boost economic cooperation. Prime Minister Shehbaz Sharif and Saudi Fund for Development (SFD) CEO Sultan Abdulrahman Al-Marshad witnessed the signing ceremony. The agreements include a $41 million concessional credit deal for a gravity-flow water scheme in Mansehra. Another agreement covers a …
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Stock futures dropped sharply as President Donald Trump’s new tariffs on key trading partners raised concerns about a potential trade war. The tariffs, which were imposed on Canada, Mexico, and China, fueled worries about global supply chain disruptions, rising inflation, and a potential economic slowdown. Markets React to Tariff Announcement Futures for the Dow Jones …
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Bahria Town Chairman Malik Riaz has received a threatening email demanding an extortion payment of 50 Bitcoin, equivalent to Rs1.42 billion. The email, sent on January 12, included death threats for Malik Riaz and his family if the payment was not made. The email raised immediate concerns, as it not only demanded a large sum …
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The capital market began the week on a sluggish note as global instability and trade tensions dampened investor sentiment. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index initially rose by 365.07 points (0.32%), reaching a high of 114,620.79. However, it later retreated, dropping to a low of 112,914.5. This represented a decline of 1,341.22 points, …
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The government has initiated efforts to convert circular debt (CD) in the power sector into public debt. This move is expected to lower electricity tariffs by Rs3.37 per unit, according to reports on Sunday. Additionally, the government plans to restructure $16.26 billion in energy-related debt. This includes loans for hydel, imported coal, Thar coal, wind, …
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DeepSeek’s innovation in artificial intelligence (AI) could shake up the demand for Nvidia’s high-performance GPUs, raising concerns for investors. DeepSeek’s Disruptive AI Model Chinese AI start-up DeepSeek is making waves in the tech industry with its latest AI model, which rivals top-tier chatbots while using significantly less computational power. Unlike traditional models, DeepSeek’s approach relies …
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In a significant international operation, US and Dutch authorities have dismantled a Pakistan-based cybercrime network accused of distributing hacking tools and fraud-enabling services to criminals worldwide. The US Department of Justice (DOJ) identified the network, named HeartSender, allegedly led by an individual known as Saim Raza. Although the DOJ withheld personal details about Raza and …
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Islamabad: The federal government is expected to raise petrol prices by Rs1.24 per litre and diesel by Rs4.49 per litre, effective tonight for the next two weeks. The hike comes as a result of rising global petroleum product prices, mainly due to disruptions in shipping routes. The international price increase is driven by disruptions in …
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Karachi: The Pakistan Stock Exchange (PSX) witnessed a strong bullish rally on Friday, with the benchmark KSE-100 index climbing 1,000 points in intraday trading. At 4:12 PM, the KSE-100 index surged by 1,096.00 points, or 0.97%, reaching 114,302.40, up from the previous day’s close of 113,206.40. The upward momentum reflected a strong recovery following the …
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Islamabad: Finance Minister Senator Muhammad Aurangzeb has stated that two provinces have already implemented the agricultural tax, while discussions are ongoing with the remaining two. He added that negotiations with the International Monetary Fund (IMF) on this matter are also in progress. Talking to the media at the Parliament House, the finance minister said that …
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Redmond, Washington: Microsoft’s stock fell 4.5% in after-hours trading on Wednesday after the company forecast slower growth in its cloud computing business, raising concerns about AI monetization, rising costs, and competition from cheaper Chinese AI models. Despite beating overall revenue estimates, Microsoft’s Azure cloud division reported 31% revenue growth, missing Wall Street’s expectation of 31.8%. …
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The Pakistan Stock Exchange (PSX) made a strong comeback after three consecutive losing sessions, with the KSE-100 Index surging over 1,700 points. Investor confidence returned, driving aggressive buying, particularly in the second half of the session. Market Rally and Key Performers The benchmark index soared to an intra-day high of 113,400.57 before closing at 113,206.40, …
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New York: Arabica coffee prices soared above $3.60 per pound on Wednesday, reaching a record high as Brazil, the world’s largest producer, faces limited supplies and uncertainty over its upcoming harvest. Dealers report that 70-80% of Brazil’s current arabica harvest has already been sold, slowing down new trades. Brazil produces nearly half the world’s arabica …
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Islamabad: The Pakistan government is considering imposing a Federal Excise Duty (FED) on sugar to address a tax shortfall, news were reported on Thursday. The Federal Board of Revenue (FBR) is struggling with a revenue shortfall exceeding Rs 50 billion for January 2025. Officials are exploring new tax measures ahead of the IMF review for …
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Rawalpindi: The Metro Bus service in Rawalpindi and Islamabad has been partially suspended, disrupting travel for thousands of commuters, news were reported on Thursday. According to the Metro Bus administration, the service is closed from Saddar Station to Faizabad due to ongoing track maintenance. However, buses are operating normally from IJP Road to the Pak …
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London: Shell reported a sharp drop in fourth-quarter profits, missing analyst estimates due to weak refining margins and LNG trading challenges. However, the energy giant announced a $3.5 billion share buyback and a 4% dividend increase, aiming to reassure investors. Profit Misses Expectations Shell’s adjusted earnings (net profit) for Q4 2024 stood at $3.66 billion, …
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The gold market in Pakistan witnessed high prices on Thursday, 30th January 2025, with gold showing a slight increase. The price of 1 tola of 24-karat gold was Rs. 290,300, while 22-karat gold was priced at Rs. 266,106 per tola. For those interested in 21-karat gold, the price stood at Rs. 254,013 per tola, and 18-karat …
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Gold prices in Pakistan saw a sharp increase, with 24-karat gold rising by Rs.2,300 per tola, reaching Rs.288,700 on Wednesday. This surge follows global trends, where gold continues to act as a safe-haven asset amid economic uncertainty. Gold Rates Increase Across Markets The price of 10 grams of 24-karat gold also rose by Rs.1,972, reaching …
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