Business

Shares at the Pakistan Stock Exchange (PSX) continued their bull run on Tuesday, rising immediately after the opening bell. The benchmark KSE-100 index jumped 509.61 points, or 1.24 per cent, to reach 41,700.38 points at 10:03am. Dalal Securities CEO Siddique Dalal said the index rose on expectations that the gas sector’s circular debt would be resolved which would result in …

ISLAMABAD: Consumers must brace for another hike in electricity tariff as the government was left with no other option but to receive additional payment from consumers to retire the power sector debt hovering at Rs1,000bn. This will be in addition to a slew of other measures, including removal of subsidies and other adjustments, to retire the debt. The move is …

Alibaba Group subsidiary, Daraz Group, an e-commerce platform, is reducing its workforce by 11 per cent to prepare for the ‘current market reality’, the group’s CEO Bjarke Mikkelsen said in a letter to employees shared on the company website. Mikkelsen cited a difficult market environment, with a war in Europe, huge supply chain disruptions, soaring inflation, increasing taxes, and removal …

ISLAMABAD: The Supreme Court on Monday modified an interim order of the Lahore High Court (LHC) and directed wealthy taxpayers to deposit their 50 per cent due super tax directly with the Federal Board of Revenue (FBR) within one week. A three-member bench, headed by Chief Justice of Pakistan Umar Ata Bandial, took up the FBR plea against the impugned …

Google said on Monday it will release a conversational chatbot named Bard, setting up an artificial intelligence showdown with Microsoft which has invested billions in the creators of ChatGPT, the hugely popular language app that convincingly mimics human writing. ChatGPT, created by San Francisco company OpenAI, has caused a sensation for its ability to write essays, poems or programming code on demand …

Shares at the Pakistan Stock Exchange (PSX) jumped on Monday, with the benchmark KSE-100 index reaching 41,102.82 points at 3:14pm, up 631.66 points, or 1.56 per cent. Intermarket Securities’ Head of Equity Raza Jafri said state-owned Oil and Gas Development Company Limited (OGDCL) and Pakistan Petroleum Limited (PPL) were leading the rally on hopes that circular debt resolution may entail …

“In the longer term, the investment potential in Pakistan is huge,” says Alfred Grannas, the German Ambassador to Pakistan. In an informal interview at Dawn‘s head office, the ambassador outlined the country’s potential for exporting hydrogen. “Pakistan has potential for wind and hydropower. It is one of the most promising things that can be built up to a large scale — …

ISLAMABAD: Amid challenging engagements with international lending agencies to unlock external flows for the balance of payments and flood recovery, the Centre has cast off Punjab’s Rs400 billion health insurance scheme in its present form and size, targeting the entire population of the province, including the rich and the poor. The project, named “Implementation of Universal Health Coverage under Health …

Lawmakers of India’s main opposition party kicked off planned protests at some state-run companies on Monday over the crisis at Adani group, whose seven listed firms saw another sell-off that drove their market loss to $112 billion in under two weeks. Members of the Congress party plan to protest outside several offices of state-owned insurer Life Insurance Corporation (LIC) and …

Oil prices inched up in early trade on Monday after falling around eight per cent last week to more than three-week lows as jitters over major economies outweighed signs of a demand recovery in China, the world’s top oil importer. Brent crude futures crawled up 16 cents, or 0.2pc, to $80.10 a barrel at 0022 GMT, while US West Texas …