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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 …
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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 …
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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, …
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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 …
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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 …
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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 …
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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. …
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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 …
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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 …
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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 …
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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. …
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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 …
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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 …
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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” …
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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 …
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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 …
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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 …
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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 …
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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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