Author: i2wtc

Listen to article KARACHI: The Pakistan Stock Exchange (PSX) on Tuesday soared to an all-time high above 120,000 points as investor optimism grew following a string of positive economic developments. The approval of a $800 million loan by the Asian Development Bank (ADB) for Pakistan’s public finance programme and the government’s approval of a Rs880 billion Public Sector Development Programme (PSDP) bolstered market sentiment. The KSE-100 index surged to the intra-day high of 1,816 points, before closing the day with an increase of 1,573 points at 120,451. Commercial bank, fertiliser and cyclical stocks led to broad-based gains while higher trading volumes, which…

Venmo, long known for helping friends split dinner bills and birthday gifts, is jumping into the heart of consumer commerce. The PayPal-owned platform on Wednesday rolled out several updates designed to move beyond peer-to-peer transfers, transforming Venmo into a more robust fintech tool for everyday spending.The changes include upgraded rewards for Venmo Debit Mastercard users, expanded checkout options at major retailers, and a new brand campaign aimed at positioning Venmo, which has more than 64 million monthly active users, as a full-service commerce platform.”We’re transforming from a payments app into a full-service commerce experience for users to spend their balance…

TOPSHOT – Dutch radical right party PVV leader Geert Wilders (C) addresses the media as he arrives for the weekly coalition talks in the Lower House in The Hague, on June 3, 2025. (Photo by Robin van Lonkhuijsen / ANP / AFP) / Netherlands OUT (Photo by ROBIN VAN LONKHUIJSEN/ANP/AFP via Getty Images) Robin Van Lonkhuijsen | Afp | Getty ImagesThe collapse of the Dutch government sets a tricky political backdrop for the Netherlands as it prepares to host the NATO summit in just three weeks.Right-wing leader Geert Wilders’ exit from government ended the already fragile Dutch coalition after a…

* Lee Jae-myung’s majority liberal Democratic Party won 49.42 percent of support, defeating his rival Kim Moon-soo of the conservative People Power Party by a broad margin of 8.27 percentage points.* Lee’s new government faces four major challenges: achieving national unity and stability, revitalizing South Korea’s economy, adjusting the country’s foreign policy, and easing tensions on the Korean Peninsula.* Trade policy toward the United States is also a key determinant in the early stage of governance of the administration.SEOUL, June 4 (Xinhua) — South Korea has ushered in a new political chapter as newly-elected South Korean President Lee Jae-myung was…

Listen to article ISLAMABAD: The International Monetary Fund (IMF) has objected to the government’s contentious proposals to impose a capital value tax on moveable assets and to slap a 5% federal excise duty on one-day-old chicks — measures that underscore the business-as-usual approach of the tax machinery. While the IMF did not endorse the tax on moveable assets and one-day-old chicks, it did agree to the imposition of a tax on digital services aimed at raising Rs10 billion in revenue, according to sources in the Federal Board of Revenue (FBR). There is also a budget proposal to increase the tax on dividend…

U.S. Federal Reserve Chair Jerome Powell departs after holding a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, D.C., U.S., May 7, 2025. Kevin Lamarque | ReutersPresident Donald Trump on Wednesday angrily urged Federal Reserve Chairman Jerome Powell to cut interest rates, minutes after the payroll firm ADP reported its lowest private-sector jobs number in years.”ADP NUMBER OUT!!! ‘Too Late’ Powell must now LOWER THE RATE,” Trump wrote on Truth Social.”He is unbelievable!!!” the president said of the central bank chairman, whom he has frequently pressured to shave rates in…

Listen to article ISLAMABAD: PTI founder Imran Khan, while announcing that the door for talks with the powerful stakeholders was still open, declared on Tuesday that a nationwide protest movement was now the party’s only remaining option. While taking back full control of party affairs by becoming PTI’s patron-in-chief, the former premier said that he would lead a nationwide protest movement from prison, declaring it the party’s only remaining path after allegedly being shut out of political and legal avenues. The new patron-in-chief named Opposition Leader in the National Assembly, Omar Ayub, to coordinate the protest campaign, apparently sidelining Khyber-Pakhtunkhwa Chief Minister…

Growing strains in US-China relations over implementation of agreement to roll back tariffs and trade restrictions.United States President Donald Trump has said his Chinese counterpart, Xi Jinping, is tough and “extremely hard to make a deal with”, days after he accused China of violating an agreement to roll back tariffs and trade restrictions. “I like President Xi of China, always have, and always will, but he is VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH,” Trump said in a post on his Truth Social online platform on Wednesday, amid growing tensions between the two nations over their tariff…

The Apple store on 5th Avenue is seen in New York on April 8, 2025. Timothy A. Clary | Afp | Getty ImagesForecasts for Apple and Samsung shipment growth this year were sharply slashed by Counterpoint Research on Wednesday amid uncertainty over U.S. tariff policy.The research outfit said it had revised down its 2025 global smartphone shipment growth forecast to 1.9% year-on-year from 4.2% previously, citing “renewed uncertainties surrounding U.S. tariffs.”U.S. President Donald Trump announced “reciprocal tariffs” on imports from countries around the world in April, but exempted smartphones and other electronics from those duties days later.Still, with tariff uncertainty looming,…

NEW DELHI: This year’s Asia Cup hangs in the balance following the recent clashes between tournament hosts India and arch-rivals Pakistan. Already-soured relations between the nuclear-armed neighbours further worsened after four days of intense fighting before a ceasefire was announced last month. India are scheduled to host the Asia Cup, a flagship event of the Asian Cricket Council (ACC), in September but uncertainty lingers over the T20 tournament. “To be honest, we have had no discussions within the board about the Asia Cup,” a top official of the Indian cricket board (BCCI) told Reuters on Tuesday, refusing to confirm whether…