Category: bussines

KARACHI: Pakistan’s headline inflation dropped to just 0.3% year-on-year (YoY) in April 2025 — a historic low — compared to 17.3% in the same month last year and 0.7% in March, according to data released by the Pakistan Bureau of Statistics (PBS). The sharp decline was primarily driven by broad-based reductions in food and energy prices. Brokerage house Arif Habib Limited noted that the latest reading marks the lowest inflation level ever recorded in the country. National Consumer Price Index table. — X/@ArifHabibLtd On a month-on-month (MoM) basis, the Consumer…

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BEIJING: Beijing is “evaluating” an offer from Washington to hold talks over US President Donald Trump’s 145% tariffs, China’s Commerce Ministry said on Friday, although it warned the United States not to engage in “extortion and coercion”. Washington and Beijing have been locked in a cat-and-mouse game over tariffs, with both sides unwilling to be seen to back down in a trade war that has roiled global markets and upended supply chains. The Commerce Ministry said the United States has approached China to seek talks over Trump’s tariffs and Beijing’s…

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Air India expects to face around $600 million in additional costs if a ban from Pakistan’s airspace lasts for a year, and has asked the federal government to compensate it for the hit, a company letter seen by Reuters shows. Indian airlines are bracing for higher fuel costs and longer journey times after Pakistan shut its airspace to the country’s carriers in a tit-for-tat retaliation following an attack on tourists in Indian Illegally Occupied Jammu and Kashmir (IIOJK) last week. Air India on April 27 asked the Indian government for a “subsidy…

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Job growth in the United States is expected to have slowed in April amid increased economic uncertainty stemming from President Donald Trump’s aggressive tariff policies. Despite this, companies continue to retain workers, keeping the labour market steady for the time being. The forthcoming employment report from the Labour Department, scheduled for release on Friday, is likely to be viewed as outdated, failing to provide a clear picture of the current economy, especially after gross domestic product contracted in the first quarter. This downturn was largely influenced by a surge in…

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The stock market rebounded decisively on Friday as bullish sentiment returned to the market. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index surged to an intraday high of 113,928.51, gaining 2,601.94 points or 2.34% from the previous close of 111,326.57. The session’s low was recorded at 112,820.07, still up by 1,493.50 points or 1.34%. On Wednesday, the KSE-100 index suffered heavy losses, falling by 3,545.61 points or 3.09% to close at 111,326.57. The day’s high stood at 114,066.13 points, while the low touched 110,631.84 points, marking one of the sharpest…

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Amid growing investor concerns over Elon Musk’s extended absences, divisive politics, and the EV manufacturer’s declining sales and profit, Tesla’s board defends its chief executive Musk on Thursday, asserting he had the board’s trust. The board responded after a Wall Street Journal article claimed that the board had contemplated replacing Musk, which board chair Robyn Denholm refuted. Denholm has come under fire for her hefty salary and her inability to hold Musk accountable to shareowners. The latest Musk drama underscores the unique dilemma Tesla’s board faces in managing him as…

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SAN FRANCISCO: Apple could lose $900 million this quarter because of trade tariffs announced early this year by US President Donald Trump, chief executive Tim Cook has warned, stressing their impact was “limited” at the start of this year. Apple on Thursday reported first-quarter profit above expectations. Cook said he expected “a majority of iPhones sold in the US will have India as their country of origin,” adding that Apple’s products were exempt from Trump’s most severe reciprocal tariffs for now. “We are not able to precisely estimate the impact…

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A cryptocurrency tied to US President Donald Trump’s company, World Liberty Financial, has been chosen by an Abu Dhabi investment firm for a $2 billion deal with Binance, the world’s biggest crypto exchange, one of the project’s co-founders said. It’s part of a growing list of crypto ventures linked to the Trump family, including a “meme coin” launched in January which have raised concerns over ethics and conflicts of interest. World Liberty, which aims to allow people to access financial services without intermediaries like banks, said in March it would launch…

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GENEVA: Federal Minister for Climate Change Dr Musadik Malik on Thursday made a strong appeal to the international community to scale up support for developing nations striving to transition to a green economy, warning that global climate goals risk falling short without inclusive action. He was speaking at a high-level conference in Geneva, organised by the UN Capital Development Fund (UNCDF) on the sidelines of the Basel, Rotterdam and Stockholm Conventions (COPs). Talking at a ministerial panel discussion, Dr Malik stressed that global green standards must be inclusive and equitable,…

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Prime Minister Shehbaz Sharif on Wednesday gave the go-ahead to a revamped 10-year electricity procurement policy, cutting planned power purchases nearly in half, from 14,000MW to about 7,000MW, the power minister said. The move is aimed at cutting the country’s reliance on costly, long-term contracts and fostering market-driven solutions. The prime minister chaired a high-level meeting to review the Integrated Generation Capacity Expansion Plan (IGCEP) 2024–2034, reaffirming the government’s commitment to reducing electricity prices and implementing sustainable reforms in the energy sector, a Prime Minister’s Office news release said. “After…

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