Most Authentic News Source
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 …
Continue reading “Pakistan, Saudi Arabia Sign $1.61 Billion Agreements”
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 …
Continue reading “Stock Futures Dive Following Trump’s Tariff Decision”
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 …
Continue reading “Malik Riaz Receives Death Threats and Extortion Demand”
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, …
Continue reading “Capital Market Faces Instability Amid Global Tensions”
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, …
Continue reading “Govt Plans to Convert Circular Debt into Public Debt”
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 …
Continue reading “DeepSeek’s AI Breakthrough: A Threat to Nvidia’s Dominance?”
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 …
Continue reading “US, Dutch Authorities Disrupt Pakistan-Based Cybercrime Network”
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 …
Continue reading “Petrol, Diesel Prices to Increase in Pakistan Tonight”
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 …
Continue reading “PSX Sees 1,000-Point Surge as Bulls Dominate Trading Floor”
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 …
Continue reading “Agricultural Tax Implemented in Two Provinces: Finance Minister”
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%. …
Continue reading “Microsoft Cloud Growth Disappoints, AI Competition Looms”
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, …
Continue reading “KSE-100 Index Rebounds, Gains Over 1,700 Points on Strong Buying”
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 …
Continue reading “Global Arabica Coffee Prices Hit Record High Amid Supply Concerns”
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 …
Continue reading “Govt Mulls Federal Excise Duty on Sugar Amid Revenue Shortfall”
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 …
Continue reading “Metro Bus Service Partially Suspended in Twin Cities”
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, …
Continue reading “Shell Q4 Profit Drops Amid Lower Refining Margins, LNG Trading Woes”
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 …
Continue reading “Gold and Silver Rates in Pakistan on 30th January”
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 …
Continue reading “Gold Prices Surge in Pakistan Amid Global Trends”
Electricity consumers in Pakistan may get temporary relief as the power tariff is expected to drop by Rs1.30 per unit for a month. The Central Power Purchasing Agency (CPPA) has requested a reduction in the monthly fuel price adjustment for December. The CPPA’s petition will be heard tomorrow. According to the request, the estimated fuel …
Continue reading “Electricity Tariff Likely to Drop by Rs1.30 per Unit for a Month”
Technology stocks rebounded on Tuesday after suffering a massive selloff. Nvidia led the recovery, gaining 8.9% after losing nearly 17% on Monday. The AI chip leader had shed around $593 billion in market value, marking the biggest one-day loss for any company. The market shock followed the release of DeepSeek, a Chinese AI model. The …
Continue reading “US Tech Stocks Recover After DeepSeek-Driven Plunge”
The federal government has appointed Faiz Ahmad as the Chief Executive Officer of the Trade Development Authority of Pakistan (TDAP) on a deputation basis. The official notification has been issued. Faiz Ahmad has been appointed to this position as a Grade 22 officer. He is currently serving as the Director General at the Pakistan Customs …
Continue reading “Faiz Ahmad Appointed as TDAP Chief Executive”
Karachi: In a significant development, the Karachi Awards 2025 jury convened to review this year’s submissions, marking an important step forward for the awards program. Now in its fourth year, this initiative recognizes and celebrates welfare services across Karachi and its surrounding areas. The meeting emphasized the transparency of the awards process while focusing on …
Continue reading “Karachi Awards 2025: KE Honors Welfare Initiatives”
KARACHI: The State Bank of Pakistan (SBP) has granted a digital banking license to Easy Paisa Bank Ltd, the central bank governor announced on Tuesday. This move aims to enhance financial inclusion, particularly in remote areas of the country. Speaking on the occasion, SBP Governor Jameel Ahmad emphasized the significance of digital and branchless banking. …
Continue reading “SBP Grants Digital Banking License to Easy Paisa Bank Ltd”
