Islamabad, Apr 4, 2025: Crescent Star Insurance Limited (PSX: CSIL) has strongly countered allegations made by a member of the Pakistan Stock Exchange (PSX), who accused the company of engaging in price manipulation and unethical market activities. In a letter addressed to the PSX on Friday, the company firmly rejected these accusations, highlighting that they were unfounded. The insurance provider referred to its earlier disclosure on January 27, 2025, a routine compliance procedure, and clarified that the filing was not part of any “malicious intent,” but a mandatory report triggered when an investor acquires more than 10 percent of the…
Author: Mawadat Fatima
Islamabad, Apr 4, 2025: Qualcomm has unveiled its latest flagship mobile processor, the Snapdragon 8s Gen 4, marking a significant update in its premium chipset series. Known internally as the SM8735, this chip is crafted using TSMC’s advanced 4nm N4P fabrication process. Unlike its top-tier counterpart, the Snapdragon 8 Gen 4, it retains the tried-and-tested Kryo CPU instead of the newer Oryon cores. CPU and GPU Performance The Snapdragon 8s Gen 4 comes with a powerful CPU architecture, featuring a single Cortex-X4 core running at 3.2GHz, paired with three Cortex-A720 cores clocked at 3.0GHz. Additionally, two more Cortex-A720 cores operate…
Islamabad, Apr 4, 2025: The Pakistan Stock Exchange (PSX) witnessed a remarkable surge in market activity, with the KSE-100 index rising by 1,729.48 points, a 1.45% increase, closing at 120,667.59 points. This surge followed the announcement of a 15% reduction in electricity tariffs by Prime Minister Shehbaz Sharif, which boosted investor optimism. The overall trading volume exceeded 60 million shares, signaling strong participation from investors. Read More: PSX Hits Record High after Government’s Major Power Tariff Cut Below is a breakdown of the key events and figures from the trading session. Key Event Details KSE-100 Index Change The KSE-100 index…
Islamabad, Apr 4, 2025: A recent surge in artificial intelligence-generated artwork replicating the signature visual style of Studio Ghibli has led to an unprecedented increase in ChatGPT usage. This unexpected demand has put immense pressure on OpenAI’s servers, forcing the company to impose temporary restrictions on its image-generation tool. Viral Trend Fuels Unprecedented Growth The trend began when social media users started sharing AI-generated images that closely resembled the hand-drawn animation of beloved Ghibli films like Spirited Away and My Neighbor Totoro. As excitement grew, the number of active ChatGPT users skyrocketed, surpassing 150 million weekly users, according to Similarweb.…
Islamabad, Apr 4, 2025: OpenAI has successfully raised $40 billion in fresh investment, pushing its post-funding valuation to an impressive $300 billion. The company announced in an official statement this week that it will use the capital to advance artificial intelligence research, enhance computing infrastructure, and accelerate AI technology development. The primary contributor to this funding round is SoftBank Group, which has pledged up to $30 billion. The remaining $10 billion will be sourced from other investors. However, if OpenAI does not transition into a for-profit entity by year-end, SoftBank may scale down its contribution to $20 billion. Strategic Utilization…
Islamabad, Apr 4, 2025: In the first nine months of the fiscal year 2024-25, total bank loans to the private sector saw a significant rise compared to the same period in the previous year (9MFY24). Data from the State Bank of Pakistan (SBP) shows that private sector borrowing reached Rs. 481 billion between July 2024 and March 21, 2024, up from Rs. 106 billion in the same period last year. This marks a substantial year-on-year increase of 352 percent, amounting to Rs. 374 billion more than the previous year. Conventional Bank Loans branches received Rs. 13 billion in loans from…
Islamabad, Apr 4, 2025: The automotive landscape in Pakistan for 2025 is experiencing a surge of activity, marked by the introduction of several new models within the first few months. Notable releases such as the Kia Sportage L, GuGo Box EV, JAC T9 Hunter, MG HS Trophy, and Isuzu D-Max have already made their mark. Hyundai, a key player in the market, is also preparing to unveil a new variant of its Tucson, further fueling the competition. Early Clues Spark Anticipation In December 2024, a Hyundai Tucson Hybrid was seen on the roads of Pakistan, prompting speculation about a potential…
Islamabad, Apr 4, 2025: The U.S. stock market has faced its steepest decline since 2020, while global crude oil prices have plummeted by 6% in the last day following former President Donald Trump’s decision to impose uniform trade tariffs on over 180 nations. Oil prices continued their downward trend, with WTI futures slipping close to $66 per barrel by Friday. The Dow Jones Industrial Average nosedived nearly 1,700 points, reflecting a 4% loss, making it the fifth-largest single-day point drop in its history. The technology-focused Nasdaq Composite tumbled by 6%, while the S&P 500 fell almost 5%. Leading technology stocks…
Islamabad, Apr 4, 2025: The State Bank of Pakistan’s (SBP) foreign exchange reserves experienced a modest increase of $70 million over the past week, as per the latest figures disclosed by the central bank on Thursday. According to SBP’s most recent data, as of March 28, the total foreign currency reserves held by the central bank reached $10.68 billion, reflecting a rise of $70 million from the previous figure of $10.607 billion recorded on March 21. The overall liquid foreign exchange reserves of the country, which comprise both SBP’s holdings and net reserves maintained by commercial banks, were reported at…
Islamabad, Apr 4, 2025: Pakistan’s textile leading export market has become significantly costlier as the United States enforces fresh reciprocal tariffs on multiple nations, including Pakistan. These new levies range from 10% to 48%, with Pakistan’s textile sector bearing the brunt at 29%, slightly above India’s 26% but lower than the 29% to 46% imposed on Vietnam, Bangladesh, and China, according to a report by Topline Securities. Although Pakistan’s textile exports make up just 0.16% of total US imports, the United States remains its largest buyer, accounting for 18% of total exports, amounting to approximately $6 billion annually. The textile industry forms…
