The Pakistan Stock Exchange (PSX) started the week on a positive note, with the benchmark KSE-100 index climbing over 800 points during the early trading hours. Index Performance: At 12:40 PM, the KSE-100 index was trading at 114,096.87 points, showing an increase of 849.58 points (0.75%). Key Drivers and Sectors: Strong buying activity boosted key sectors, including: Automobile Assembly Cement Chemicals Commercial Banks Fertilizers Oil & Gas Exploration Companies Notable Stocks: SSGC, SHEL, PSO, OGDC, PPL, POL, ENGRO, HBL, MEBL, and NBP all traded positively. Market Expectations: Analysts from Intermarket Securities noted that the market is reacting to the anticipation…
Author: Web Desk
Gold prices dropped in Pakistan and international markets as the country’s economic indicators showed improvement. 10 grams of gold: Down by Rs1,286, now priced at Rs239,455. One tola (approximately 11.66 grams): Down by Rs1,500, now priced at Rs279,300. In the international market, gold prices fell by $15, bringing the price to $2,675 per ounce. Factors Influencing Gold Prices Global Factors: Supply-demand dynamics, geopolitical stability, currency fluctuations, and economic indicators like inflation and interest rates. Local Market Dynamics: Import duties, local demand, and currency exchange rates. The London Bullion Market Association (LBMA) sets global benchmark prices for gold twice daily, factoring…
The dollar depreciated by seven paisa against the rupee in the interbank market, trading at Rs278.50 during Monday’s intraday session. Experts attribute this stabilization of exchange rates in Pakistan to the crackdown on hoarders and illegal exchange companies. The International Monetary Fund (IMF) agreement has also played a pivotal role in this improvement, as it has boosted market sentiment. In September, the IMF’s Executive Board approved a new $7 billion, 37-month loan program for Pakistan, which emphasized “sound policies and reforms” to strengthen macroeconomic stability. This approval included an immediate $1 billion disbursement to Islamabad. Since 1958, Pakistan has undergone…
Pakistan has made a significant breakthrough in space technology with the development of its first indigenous satellite, Electro-Optical One, by the Space and Upper Atmosphere Research Commission (SUPARCO). The satellite is scheduled for launch on January 17, marking a historic achievement for the country. This development highlights Pakistan’s growing expertise in Advanced Earth Space and Planetary Sciences (AESPS) and represents a leap forward in the nation’s self-reliance in space technology. The launch of Electro-Optical One is expected to pave the way for further advancements in scientific research and national development. A SUPARCO spokesperson emphasized the satellite’s advanced capabilities, stating it…
Google Pay is set to officially launch in Pakistan by mid-March 2025, introducing its popular contactless payment system to the local market, marking a significant milestone in the country’s growing digital payment landscape. Sources confirm that the tech giant’s entry into Pakistan was confirmed in November 2024, with Visa and Mastercard facilitating the rollout. Users will be able to link their bank-issued debit and credit cards to Google Pay via the Google Wallet app. Initially, the focus will be on enabling contactless payments, with features like loyalty cards and public transport passes not being included in the first phase. Industry…
Located in a corner of central Tokyo, the Extinct Media Museum lives up to its name by showcasing obsolete technology. From Betacam videotapes to floppy disks and vintage Sony devices, the museum displays old cameras and telecom equipment, including the oldest exhibit, a 1916 Japanese-made “Lily” still camera. Among the museum’s cluttered shelves, visitors like 59-year-old Mika Matsuda can relive the past with gadgets that were once in everyday use. “It’s fascinating not only for those unfamiliar with these items, but also for those who lived through those times,” said Matsuda. “Seeing these pieces feels like I’m having a flashback…
Jeff Bezos stated that he does not believe SpaceX CEO Elon Musk will use his close ties with U.S. President-elect Donald Trump to undermine his space company Blue Origin, adding that he feels “very optimistic” about the incoming administration’s space agenda. Bezos said, “Elon has been very clear that he’s doing this for the public interest and not for his personal gain. And I take him at face value.” Bezos, the founder of Blue Origin, rivals SpaceX in the space industry. He made the comments in Cape Canaveral, Florida, where he was attending the debut launch of Blue Origin’s New…
Apple’s board of directors has urged shareholders to reject a proposal to dismantle its diversity, equity, and inclusion (DEI) initiatives. This stance contrasts with recent decisions by Meta, McDonald’s, and other companies to withdraw from such programs. The proposal, put forward by the National Center for Public Policy Research, a conservative think tank, called for Apple to terminate its DEI programs to avoid potential legal challenges. The suggestion was framed in light of the 2023 Supreme Court ruling declaring affirmative action in universities unconstitutional. However, Apple’s leadership firmly opposed the proposal, stating, “The proposal is unnecessary as Apple already has…
Barcelona hammered Real Madrid 5-2 in a thrilling Spanish Super Cup Clasico final in Saudi Arabia on Sunday to win the first trophy of the Hansi Flick era. After Kylian Mbappe put Madrid ahead, Barcelona responded with five goals. Their goalkeeper Wojciech Szczesny was sent off in the second half, but Madrid could not capitalize on their numerical advantage. Following Mbappe’s opener, Lamine Yamal equalized, and Robert Lewandowski converted a penalty to put Barcelona ahead. Raphinha scored a brace, and Alejandro Balde also found the net. Rodrygo Goes pulled one back for Madrid with a free-kick, but they couldn’t get…
The Pakistan Cricket Board (PCB) has submitted an initial squad of over 20 players to the International Cricket Council (ICC) for the upcoming Champions Trophy. Sources indicate that the selection committee submitted the list two days ago, adhering to the ICC’s requirement for teams to submit player names one month prior to the event’s start. The Champions Trophy support period begins on February 12. The preliminary squad reportedly includes captain Mohammad Rizwan, Babar Azam, Tayyab Tahir, and Irfan Khan Niazi. Other notable names include Sufiyan Muqeem, Mohammad Hasnain, Abdullah Shafique, Naseem Shah, Usman Khan, Shaheen Shah Afridi, and Haris Rauf.…
