OpenAI is close to releasing an AI-powered web browser that will challenge Alphabet’s market-dominating Google Chrome, three people familiar with the matter told Reuters. The browser is slated to launch in the coming weeks, three of the people said, and aims to use artificial intelligence to fundamentally change how consumers browse the web. It will give OpenAI more direct access to a cornerstone of Google’s success: user data. ad revenue By Reuters July 10, 2025 OpenAI logo is seen in this illustration taken February 8, 2025. — Reuters OpenAI is close…
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UNESCO study reveals shorter prompts may slash AI energy use by 90%
As the “AI for Good” global summit kicks off in Geneva, a new UNESCO study unveiled Tuesday highlights a critical challenge facing the rapidly expanding field of artificial intelligence: its colossal energy consumption. The report suggests that a seemingly simple solution — asking shorter questions — could dramatically curb AI’s environmental footprint. According to UNESCO, a combination of more concise queries and the use of specialised AI models has the potential to reduce AI energy consumption by up to 90% without compromising performance. This revelation comes as concerns grow over…
Read MoreMelting glaciers may trigger volcanic eruptions
Scientists cautioned that melting glaciers may cause volcanic eruptions to become more frequent and powerful, possibly worsening climate change. Numerous volcanoes located beneath glaciers in areas such as Antarctica, Russia, New Zealand, and North America could become more active as rising global temperatures cause the ice to retreat. This warning is based on a recent study of six volcanoes in southern Chile during the last ice age, reported Live Science. The researchers are set to present their findings on Wednesday (July 8) at the 2025 Goldschmidt Conference in Prague. “Glaciers…
Read MoreWhy does Mars show shades of yellow, orange in ESA’s dramatic new satellite image?
Mars is commonly known as the Red Planet, but a recent satellite image from the European Space Agency (ESA) displays a vibrant blend of yellows, oranges, and browns. The striking view also highlights an impact crater and four dust devils moving across the terrain. Taken by the high-resolution camera on ESA’s Mars Express orbiter, the image features Arcadia Planitia — a key region for understanding Mars’ geological past and assessing its potential for future human habitation, reported Space.com. Located northwest of the solar system’s tallest volcanoes, Arcadia Planitia is notable for…
Read MorePakistan eyes $1bn valuation in Roosevelt Hotel plan
Pakistan is aiming for a valuation of at least $1 billion for its Roosevelt Hotel property in New York as Islamabad looks to sell a minority stake and find a partner for redevelopment, a senior government official said. Named after former US president Theodore Roosevelt, the century-old property in midtown Manhattan is seen as one of Pakistan’s most valuable foreign assets, which it acquired in 2000. Faced with mounting losses, the over 1,000 room hotel was shut in 2020, and has also operated briefly as a migrant shelter. As part…
Read MoreBulls return to PSX, lifted by economic data, banking gains
Investor optimism returned to the equity market on Thursday as strong macroeconomic indicators, robust remittance inflows and stronger-than-expected government debt auctions fuelled gains in the banking sector, reversing losses from the previous session. The equity market bounced back on Thursday, led by gains in the banking sector and strong macroeconomic indicators, as investors reacted positively to record-high remittances and upbeat results from the government’s latest debt auctions. “Overall improvement in macroeconomic indicators is rerating the market with rise in banks leading the index. This rally will mature to form a…
Read MorePakistan to launch digital currency pilot soon
The State Bank of Pakistan (SBP) Governor Jameel Ahmad said on Wednesday that the central bank is preparing to launch a pilot for a digital currency and is in the final stages of preparing legislation to regulate virtual assets. This move comes as Islamabad ramped up efforts to modernise its financial system amid a rising global interest in blockchain-based payments, with central banks around the globe exploring the use of digital currencies. to drive virtual asset adoption By Reuters July 09, 2025 State Bank of Pakistan Governor Jameel Ahmad speaks at the Reuters…
Read MoreRemittances hit all-time high of $38.3bn in FY25
KARACHI: Workers’ remittances to Pakistan surged to an all-time high of $38.3 billion in fiscal year 2025, showing a robust 26.6% increase from $30.3 billion recorded in FY24, according to data released by the State Bank of Pakistan (SBP) on Wednesday. In June 2025, monthly inflows reached $3.4 billion, reflecting a 7.9% rise compared to the same month last year. year By Business Desk July 09, 2025 An employee of a bank counts US dollar notes. — Reuters KARACHI: Workers’ remittances to Pakistan surged to an all-time high of $38.3 billion…
Read MoreDubai bank facilitates $1bn funding deal for Pakistan
The Ministry of Finance on Wednesday announced that a Dubai-based bank has arranged a $1 billion syndicated financing facility for Pakistan. The five-year financing arrangement has been facilitated through a consortium of international investors, reflecting growing confidence in the country’s economic reform programme. The financing is backed by a Policy-Based Guarantee from the Asian Development Bank (ADB), marking the first such transaction by the ADB for Pakistan. The facility, structured under Islamic principles, includes an 89% share compliant with Shariah law. According to the finance ministry, other banks based in…
Read MorePSX stumbles amid global equity slump, weak oil prices
Investor caution returned to the equity market on Wednesday as global uncertainty, weak oil prices, and renewed concerns over Pakistan’s tax compliance regime unsettled trading. Market participants navigated a volatile session amid jitters over US trade policy and warnings from the Asian Development Bank (ADB) about gaps in tax enforcement. Rupee instability and falling global equities further amplified selling pressure across key sectors. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index settled at 132,576.98 points, down 826.21 points or 0.62%, from the previous close of 133,403.19. During the session, the…
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