Category: bussines

Wall Street led a global markets bloodbath Thursday as countries around the world reeled from President Donald Trump’s trade war, while the White House insisted the US economy will emerge victorious. Shock waves tore through markets in the United States, Europe and Asia after Trump’s tariff bombshell, as foreign leaders signaled readiness to negotiate but also threatened counter-tariffs. The S&P 500 dropped 4.8% in its biggest loss since 2020. The tech-rich Nasdaq plummeted 6.0% and the Dow Jones 4.0%. Tokyo’s key Nikkei 225 index was down 1.8% in early trade…

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A high-end iPhone could reach nearly $2,300 in the United States if Apple passes increased costs onto consumers due to President Donald Trump’s new tariffs, according to projections by Rosenblatt Securities. These tariffs, part of an escalating trade war, have raised concerns about significant price hikes in the US market. Following Trump’s announcement on Wednesday, global financial markets reacted negatively, reflecting widespread unease over the potential end of long-standing trade liberalisation. The White House has sent mixed signals regarding the permanence of these tariffs, with Trump suggesting they “give us…

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ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has announced a nationwide reduction in electricity prices under the monthly fuel charge adjustment (FCA), according to official notifications issued on Thursday. Power tariffs for K-Electric (KE) consumers will see a cut of Rs3.0218 per unit in their bills, while for the rest of the country, they have been slashed by Re0.4641 per unit. According to the notifications issued by the power sector regulator, the relief will be reflected in April’s electricity bills. The price reduction for KE applies to the January…

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In a major relief to electricity consumers, Prime Minister Shehbaz Sharif on Thursday announced a cut of up to Rs7.69 per unit in power tariff. Announcing the power relief package at a ceremony in Islamabad, the prime minister also revealed that the cost per unit for industrial units has also been slashed by Rs7.59. The development comes a month after the government’s request to the National Electric Power Regulatory Authority (Nepra) for a reduction of electricity prices — following the approval of the International Monetary Fund (IMF), which gave its…

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KARACHI: Pakistan’s inflation has fallen to its lowest level in nearly 60 years, with the Consumer Price Index (CPI) rising just 0.7% year-on-year in March 2025. The Consumer Price Index (CPI) inflation rose 0.7% year-on-year (YoY) in March 2025, down from 1.5% in the previous month and significantly lower than the 20.7% recorded in March 2024, according to the Pakistan Bureau of Statistics. (PBS). The data suggests that CPI inflation increased by 0.9% month-on-month (MoM) in March 2025 compared to a 0.8% decrease in the prior month. “This is the…

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The boarse roared to new heights on Thursday smashing previous records, fuelled by soaring investor confidence following a sweeping government relief package for electricity consumers and encouraging economic indicators. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index rose by 1,131.37 points, or 0.96%, to finish at 118,938.11. The market touched an intraday high of 119,179.45, climbing 1,372.71 points, or 1.17%, from the previous close of 117,806.74. The day’s low was recorded at 117,508.07. The rally was sparked by Prime Minister Shehbaz Sharif’s announcement of a significant reduction in electricity tariffs…

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Prime Minister Shehbaz Sharif on Thursday announced a cut of up to Rs7.69 per unit in electricity prices for consumers, pledging to provide further relief in the near future through structural reforms in the power sector. The prime minister, addressing a ceremony to unveil the package, said that the average per unit price for the domestic consumers had been brought down by Rs7.15 and Rs7.69 industrial sector. “In June 2024, the per unit price for industrial sector was Rs58.5 which was first reduced by Rs10.3 and further by Rs7.69,” he…

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US President Donald Trump is urging senior advisers to take a more aggressive stance on tariffs as the administration prepares for a major escalation in its global trade war, the Washington Post reported on Saturday, citing four people familiar with the matter. Despite calls from allies on Wall Street and Capitol Hill to adopt a more measured approach, Trump has been pushing for sweeping trade actions aimed at reshaping the US economy, the report said. Trump has continued to tell his advisers that he wants to keep increasing trade measures,…

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The World Bank has approved a $300 million loan under its International Development Association (IDA) to support Punjab’s efforts in tackling air pollution, the global lender said in a statement on Saturday. The funds will go into the Punjab Clean Air Program (PCAP), which improves air quality management and implements measures under the provincial government’s Smog Mitigation Action Plan (SMAP). According to a statement released by the World Bank, the programme will focus on reducing pollution in key sectors, including transport, agriculture, industry, energy, and municipal services, with a broader…

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Elon Musk’s xAI has acquired social media platform X, formerly Twitter, in a deal that values the social media platform at $33 billion and allows the value of his artificial intelligence firm to be shared with his co-investors in the social media company. The deal could also help xAI’s ability to train its chatbot known as Grok. “xAI and X’s futures are intertwined,” Musk, who also heads automaker Tesla and SpaceX, wrote in a post on X, adding: “Today, we officially take the step to combine the data, models, compute,…

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