Day: July 16, 2025
Tesla enters India with its $70,000 Model Y
The world’s richest man, Elon Musk’s electric vehicle powerhouse Tesla, officially opened its first showroom in India on Tuesday, finally entering the world’s most populous country. The move comes as the company seeks to tap into new customer bases amidst a slowdown in sales across traditional markets like the United States and Europe. first showroom By Reuters July 15, 2025 Media personnel take pictures and videos of the TESLA Model Y car at India’s first Tesla showroom in Mumbai, India, July 15, 2025. — Reuters The world’s richest man, Elon Musk’s…
Read MorePSX slips after record high as investors book profits
KARACHI: The Pakistan Stock Exchange closed lower on Tuesday after briefly crossing the 137,500 mark in intraday trade, as profit-taking by investors pulled the benchmark KSE-100 index down. The PSX benchmark index closed at 135,939.87 points, down 562.66 points, or 0.41%, from the previous close of 136,502.76. The day began on a strong note, carrying forward Monday’s bullish momentum as the index surged to an intraday high of 137,747.60, breaching the psychological barriers of 137,000. However, profit-taking in the latter half of the session erased early gains, dragging the index…
Read MoreGovt fixes ex-mill sugar price at Rs165 per kg amid soaring retail rates
ISLAMABAD: Amid a surge in retail rates, the federal government and sugar industry have agreed to fix the ex-mill price of sugar at Rs165 per kilogramme. The decision comes amid surging retail prices, which have climbed to as high as Rs200 per kg in several parts of the country, including Karachi and Peshawar. According to the Ministry of National Food Security, provincial governments have been directed to ensure the availability of sugar to consumers at the newly agreed price. “Provinces must take action to ensure that the public gets access…
Read MoreBitcoin hits record $123,000 as US to debate crypto rules
Bitcoin surpassed $120,000 for the first time on Monday, marking a milestone for the world’s largest cryptocurrency as investors bet on long-sought policy wins for the industry this week. Bitcoin scaled a record high of $123,153.22 before pulling back slightly to trade 2.4% higher around $122,000. Later in the day, the US House of Representatives will debate a series of bills to provide the digital asset industry with the nation’s regulatory framework it has long demanded. Those demands have resonated with US President Donald Trump, who has called himself the…
Read MorePSX rally lifts KSE-100 beyond 136,000 mark
The stock market kicked off the week with a surge as a mix of record-breaking remittances, robust foreign exchange reserves, and anticipation around corporate earnings triggered a wave of bullish sentiment across the trading floor. “Stocks trading at new all-time high amid speculations in the earnings season ahead of major earnings announcement this week. Thin inflation, surging exports, SOEs privatisation and surging global crude oil prices played catalyst role in bullish activity at PSX,” said Arif Habib Commodities Managing Director and CEO Ahsan Mehanti. up 2,202.77 points, or 1.64% By Business…
Read MoreBitcoin surpasses $120,000 for first time
SINGAPORE: Bitcoin surpassed the $120,000 mark for the first time on Monday, reaching a significant milestone for the world’s leading cryptocurrency as investors anticipate key policy developments for the industry this week. Beginning Monday, the US House of Representatives is set to discuss several bills aimed at establishing the long-awaited regulatory framework for the digital asset sector. Those demands have resonated with US President Donald Trump, who has called himself the “crypto president” and urged policymakers to revamp rules in favor of the industry. Expectations of further tailwinds for the…
Read MoreStructural reforms key to Pakistan’s economic sustainability, says IMF’s Binici
APP International Monetary Fund (IMF) Resident Representative for Pakistan Mahir Binici praised the country’s “strong” performance under the Extended Fund Facility (EFF) and emphasised that structural reforms remain central to Pakistan’s economic sustainability. Binici delivered a comprehensive guest lecture at the Sustainable Development Policy Institute (SDPI) in which he shed light on the evolving economic landscape across the MENA region and Pakistan. He reaffirmed the Washington-based lender’s continued support for the country’s economic and climate reform agenda. Addressing economists, researchers and policy experts, Binici said that the growth across the…
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