Author: i2wtc

The Council of Islamic Ideology retracted its earlier statement declaring withholding tax on financial transactions as “un-Islamic,” clarifying that no final decision had been made on the matter. The 342nd meeting of the CII on Wednesday described the withholding tax on fund transfers and cash withdrawals as excessive and inconsistent with Islamic principles in its initial communiqué. However, the council later issued a clarification on the matter. The follow-up statement, titled “Clarification,” said that reports suggesting the council had reached a definitive conclusion were misleading. It explained that only a preliminary discussion took place among some members, during which opinions varied. “The…

VALENCIA: Real Madrid maintained their flawless start to the season with a swashbuckling 4-1 victory over Levante on Tuesday, as Vinicius Jr orchestrated the first-half demolition before Kylian Mbappe’s second-half brace sealed a comprehensive win. The result keeps Real comfortably atop the standings on 18 points after six matches, stretching their lead to five points over reigning champions Barcelona, who have a game in hand ahead of Thursday’s clash at Real Oviedo. Levante languish in 16th place on four points. It was a particularly satisfying night for Vinicius, who was under scrutiny after a mixed start under new manager Xabi…

KARACHI: The unofficial results of by-elections for 28 local government seats across 14 districts of Sindh, including three in Karachi, showed the Pakistan Peoples Party (PPP) emerging as the front-runner. The Election Commission of Pakistan has released unofficial results for all 28 seats. According to preliminary figures, candidates from the Pakistan Peoples Party (PPP) secured victory in 21 seats, while independent candidates and Tehreek-e-Labaik Pakistan (TLP) won three and two seats, respectively. Jamaat-e-Islami (JI) and the Grand Democratic Alliance (GDA) also secured one seat each. Polling began at 8 am and ended at 4 pm. Voters’ turnout remained relatively low…

Light uses artificial intelligence to automate companies’ finance and accounting functions.LightDanish startup Light is the latest in a series of European tech firms raising cash as venture capitalists search for the next big thing in artificial intelligence.Founded in 2022, Light develops software that uses AI to automate various functions that exist within businesses’ finance teams, including accounting, bookkeeping and financial reporting.The Copenhagen-headquartered company told CNBC that it had raised $30 million in a Series A funding round led by Balderton Capital, an early investor in fintech unicorns Revolut and GoCardless.Atomico, Cherry Ventures, Seedcamp and Entrée Capital also invested in the…

Pakistan International Airlines has secured formal approval from the United Kingdom’s Department for Transport to operate as a Third Country Operator, clearing the way for the resumption of direct flights between Pakistan and the UK after years of suspension. According to PIA, the national flag carrier will relaunch its UK operations next month, beginning with flights to Manchester. Services to Birmingham and London will follow in subsequent phases, gradually expanding the airline’s presence in one of its most significant international markets. Read: Pakistan-UK flights await TCO clearance The UK authorities formally notified PIA of the approval this week, granting the…

The first woman from Pakistan to score a T20I hundred, the southpaw opener heads into this month’s World Cup in good form. On a balmy February night at Cape Town two years ago, Ireland’s Leah Paul stood at her bowling mark in the 19th over of the innings; her side having had a tough day in the field — courtesy of the batter waiting for her at the other end. Pakistan’s Muneeba Ali shuffles in the crease and moves outside the leg stump. Paul follows, but the left-handed batter caresses the ball to the boundary from in between the legs…

KARACHI: The Pakistan Stock Exchange witnessed a positive trading session, as the benchmark KSE-100 index advanced by 291.65 points to close at 158,236.68, up 0.18% from the previous close. Market sentiment throughout the session was cautiously optimistic, as traders weighed domestic stability following the prime minister’s efforts to secure monetary concessions from the international lenders in the wake of recent flood-related challenges. With this hope, the bourse maintained a steady upward trajectory throughout the day, supported by broad-based buying in key sectors that kept the investor sentiment stable. During intra-day trading, the index recorded a high of 159,046.60 and a…

Key PointsXiaomi plans to open showrooms in Europe when it launches its electric cars in the region in 2027, a top executive at the Chiense tech giant told CNBC.Xu Fei, a vice president at Xiaomi, said the comapny could also manufacture cars locally in the future.Xu did not reveal which car Xiaomi would launch in Europe but said the company would not “design a totally new product.” Xiaomi has begun preparations to find showroom locations in Europe for its electric vehicles and may even manufacture the cars locally in the future as it plans its expansion in the region, a…

People seen holding Puerto Rican flag during the annual Puerto Rican Day Parade on 5th Avenue in New York City.Sopa Images | Lightrocket | Getty ImagesU.S. Latino immigrants accounted for $1.6 trillion in GDP in 2023, according to a new research report by the Latino Donor Collaborative, contributing to an overall purchasing power for U.S. Latinos of $4.1 trillion. The 2023 data is the most recent year included in the study.U.S. Latino GDP, measuring the economic impact of the cohort, was up 50% in 2023 from 2015, boosted by increasing education, entrepreneurship and labor force participation, said economists with Arizona…

OpenAI CEO Sam Altman speaks to media following a Q&A at the OpenAI data center in Abilene, Texas, U.S., Sept. 23, 2025. Shelby Tauber | ReutersNvidia’s massive investment in OpenAI, announced earlier this week, will put billions of dollars into the coffers of the artificial intelligence startup to use as it sees fit. But most of the money will go towards use of Nvidia’s cutting-edge chips.The agreement between the two companies was big on numbers but thin on specifics. They said the investment would reach up to $100 billion, paid out as AI supercomputing facilities open in the coming years,…