Category Archives: Business

SECP Grants License to Pakistan’s First Fully Digital Securities Broker

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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Sugar Sector Crisis: Growers Face Exploitation Amid Mismanagement

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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Shad Khan’s $360m Megayacht Becomes a Super Bowl Sensation

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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Macron Promotes AI Investments Ahead of Global Summit

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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PM Shehbaz Announces Further Cuts in Electricity Tariffs

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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U.S. Expands UFLPA Entity List: Impact on Apparel

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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Rising Gas Prices Threaten Pakistan’s Export Competitiveness

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 Market Update: February 4, 2025

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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Pakistan Reduces Hajj Package Costs, Provides Relief to Pilgrims

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 Hit All-Time High Amid Trade War Escalation

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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KSE-100 Falls 810 Points Amid Profit-Taking and Uncertainty

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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PIA Privatization: Second Attempt Ready, Bidders Return

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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Pakistan, Saudi Arabia Sign $1.61 Billion Agreements

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 Dive Following Trump’s Tariff Decision

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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Malik Riaz Receives Death Threats and Extortion Demand

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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Capital Market Faces Instability Amid Global Tensions

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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Govt Plans to Convert Circular Debt into Public Debt

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 AI Breakthrough: A Threat to Nvidia’s Dominance?

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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US, Dutch Authorities Disrupt Pakistan-Based Cybercrime Network

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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Petrol, Diesel Prices to Increase in Pakistan Tonight

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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PSX Sees 1,000-Point Surge as Bulls Dominate Trading Floor

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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Agricultural Tax Implemented in Two Provinces: Finance Minister

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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Microsoft Cloud Growth Disappoints, AI Competition Looms

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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