Islamabad, Jan 6: OpenAI CEO Sam Altman recently revealed that the company is incurring financial losses on its $200-per-month ChatGPT Pro plan, which was launched to provide users with access to the advanced GPT-4 model and additional tools like the Sora video generator. Despite these premium offerings, the subscription price has proven insufficient to cover the unexpectedly high demand and usage. Altman admitted in a series of posts on X that he personally set the price, initially believing it would generate profit, but it turned out that the company underestimated the scale of usage. OpenAI, which has raised nearly $20…
Author: Iqra Khan
Islamabad, Jan 6: In a significant move to improve passport services for citizens, the Passport Department, under the directives of Interior Minister Mohsin Naqvi, has introduced 10 dedicated passport processing counters at NADRA Mega Centres in Karachi’s Nazimabad and Siemens Chowrangi. These counters will operate 24/7, ensuring round-the-clock availability of passport services for the public. Director General Immigration and Passports, Mustafa Jamal Qazi, announced that this initiative is part of a broader effort to expand 24-hour passport counters across the country. The new service in Karachi follows the successful implementation of similar operations in Islamabad, where the office has been…
Islamabad, Jan 6: Samsung has unveiled The Frame Pro at CES 2025, introducing several upgrades to its popular design-focused TV line. Here are the key features: Mini LED Display The Frame Pro now utilizes Mini LED technology, offering enhanced brightness, contrast, and black levels. Samsung has opted for an edge-lit design, positioning the LEDs along the bottom edge of the TV instead of behind the screen, with claims of local dimming. Real-world performance will determine how effective this technology is. 144Hz Refresh Rate With a 144Hz refresh rate, The Frame Pro is designed to appeal to gamers looking for a…
Islamabad, Jan 6: Oppo is preparing to expand its Find X8 series with the introduction of the Oppo Find X8 Mini, alongside the standard and Pro models. This new addition is expected to offer a flagship experience in a smaller and more portable design. Compact Yet Premium The Find X8 Mini will feature a 6.31-inch LTPO OLED display with a 1.5K resolution, competing with the Vivo X200 Mini in China. Oppo is also focusing on a premium design, with a metal frame and a glass back, combining durability with an elegant, sleek look. Impressive Battery Life Despite its compact size,…
Islamabad, Jan 6: The Securities and Exchange Commission of Pakistan (SECP) has enhanced the regulatory framework for the mutual fund industry by introducing detailed requirements for “Investment Plans.” This initiative follows previous amendments to the Non-Banking Finance Companies and Notified Entities Regulations, 2008 (NBFC Regulations), aiming to improve governance, streamline operations, and foster retail investment in the mutual fund sector. The new framework outlines the eligible categories of Collective Investment Schemes (CIS) under which Asset Management Companies (AMCs) can offer Investment Plans. These categories include Fund of Funds, Fixed Rate/Return, Sovereign Income, Asset Allocation Schemes, Capital Protected, and Exchange Traded…
Islamabad, Jan 6: The Federal Board of Revenue (FBR) processed 30 requests under the exchange of information arrangement with international tax jurisdictions during the 2023-24 fiscal year. Out of these, the FBR sought data in 17 cases related to offshore accounts. This highlights FBR’s increasing efforts to strengthen domestic tax compliance by utilizing international networks to combat tax evasion. The FBR’s focus on transparency aligns with global standards, including the country-by-country reporting system, which ensures multinational corporations accurately report their financial activities across various jurisdictions. The FBR also reported progress in implementing systems for automatic information exchange, by OECD guidelines,…
Islamabad, Jan 6: A subsidiary of Pakistan Petroleum Limited (PSX: PPL), PPL Asia E&P B.V. (PPLA), has received $6 million from Iraq’s Midland Oil Company (MdOC) related to an exploratory well in Iraq. This payment follows a successful settlement between the two parties concerning the Exploration, Development, and Production Service Contract (EDPSC) for Block-8 in Iraq. The $6 million was received on January 3, 2025, marking the successful conclusion of the closeout and settlement of the EDPSC. This marks a positive development for PPL as it finalizes its operations related to the contract.
Islamabad, Jan 6: On Monday, the benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) experienced a sharp decline of over 1,300 points, marking a tough start to the week. The index opened with a significant drop and reached an intraday high of 1,148 points, followed by an intraday low of 1,645 points, before finally closing at 116,255 points, reflecting a loss of 1,332 points or 1.15%. Brokerage house Topline Securities attributed the bearish sentiment to growing concerns in the gas sector, particularly following reports of a substantial increase in circular debt. This news dampened investor confidence, resulting in widespread…
Islamabad, Jan 6: The trials for Pakistan’s National Street Children football team, which will compete in the Norway Cup 2025, are currently underway and will continue until the first week of March 2025. The first phase of trials has already been conducted in 12 cities across Punjab and Khyber Pakhtunkhwa, including Lahore, Faisalabad, Gujrat, Gujranwala, Sialkot, Peshawar, Kohat, and Dera Ismail Khan. This week, the trials are set to expand to Sindh, Balochistan, Azad Kashmir, and Gilgit-Baltistan. A large turnout of young footballers has participated in the trials held so far, with the management of the national Street Children football…
Islamabad, Jan 6: As the ICC Champions Trophy 2025 approaches, cricket fans are eagerly anticipating the squad announcement for Pakistan, with speculation mounting over which players will be selected to represent the nation in the prestigious tournament. Hosted in Pakistan from February 19 to March 9, the Champions Trophy returns after an eight-year hiatus, adding even more excitement to the competition. Here’s a closer look at a predicted 15-member squad for Pakistan, blending seasoned players with emerging talents for a well-balanced and formidable team. Top-Order Stability with Fakhar, Saim, and Imam Pakistan’s top order is expected to feature Fakhar Zaman,…