Author: i2wtc
Asks OGRA to call meeting to address issues of sales tax recovery, exchange loss & port constraints ISLAMABAD: The oil industry is heading towards collapse due to the failure of the regulator and government to resolve a host of issues including the recovery of sales tax and exchange rate losses, port infrastructure constraints and planned digitisation of retail outlets across the country. The Oil Companies Advisory Council (OCAC) has drawn the attention of Oil and Gas Regulatory Authority (Ogra) chairman towards these issues. OCAC Secretary General Dr Syed Nazir A Zaidi, in a letter written to Ogra chairman, a copy…
Federal Reserve Chair Jerome Powell speaks during a press conference following the Federal Open Markets Committee meeting at the Federal Reserve on Dec. 10, 2025 in Washington, DC. Chip Somodevilla | Getty Images It ended up being a “hawkish cut,” as expected. Still, investors managed to find a few gifts tucked between the lumps of coal.Even though the U.S. Federal Reserve lowered interest rates by a quarter percentage point on Wednesday stateside, two regional bank presidents — Jeffrey Schmid of Kansas City and Austan Goolsbee of Chicago — wanted rates to stand pat.Their caution was echoed in the Fed’s “dot…
Pakistan Peoples Party Chairperson Bilawal Bhutto Zardari addresses a press conference in Karachi on November 7, 2025. SCREENGRAB LAHORE: PPP Chairman Bilawal Bhutto Zardari has once again opposed the idea of banning any political party but said political parties should also adopt a responsible political attitude. Speaking to the media after visiting the house of late senior party worker Zubaida Jafri in Baghbanpura area of Lahore — where he offered condolences to the family on her demise — the PPP chief on Wednesday said it is the government’s responsibility to give space to the opposition in politics. “All political forces…
Survey cites human error as leading breach risk as firms urged to strengthen awarenessThe outcome of DEEP component-II will be the development of Pakistan Business Portal at a cost of $15 million for the first fiscal year of the project, ie, 2024-25. photo: file LAHORE: A recent survey by Kaspersky in the Middle East, Turkiye and Africa (META) region, titled “Cybersecurity in the workplace: Employee knowledge and behaviour”, found that just 41% of professionals in Pakistan received training on digital threats. The knowledge gap is significant, particularly as the majority of cybersecurity breaches are attributed to human error. The findings…
Illustration of the SK Hynix company logo seen displayed on a smartphone screen.Sopa Images | Lightrocket | Getty ImagesSouth Korea’s SK Hynix on Wednesday confirmed that it is weighing a U.S. listing as the memory chipmaker’s valuation soars on global demand for artificial intelligence hardware.The company at the center of the AI infrastructure boom said in a regulatory filing that it was “reviewing various measures to enhance corporate value, including a U.S. stock market listing utilizing treasury shares,” while noting that no final decision has been made.A U.S. listing would give American investors direct access to SK Hynix shares, which…
The U.K. and Germany are emerging as key hubs for a new wave of AI defense startups, as Europe scrambles to rearm amid rising geopolitical tensions. Private funding for defense startups across the region has ramped up in recent years, with investors looking to tap into increasing government military budgets, driven by the ongoing Russia-Ukraine war and pressure from the Trump administration. But it’s ecosystems in the U.K. and Germany that are seeing the most activity. The majority of the biggest rounds across the sector have been for startups based in those two countries, with both emerging as key launchpads into…
ISLAMABAD: After 16 years of neglect and remaining at the mercy of agents, over 10 million of Pakistan’s poorest women have for the first time become account holders and will soon start receiving monthly cash stipends under the Benazir Income Support Programme (BISP) without standing in queues. The BISP beneficiaries, who were captured clients of commercial banks, did not have bank accounts till recently and used to receive stipends through a limited liability account. The banks were not willing to treat the poorest women at par with other clients despite charging a 0.5% fee on their transactions and sometimes using…
A slogan related to Artificial Intelligence (AI) is displayed on a screen in Intel pavilion, during the 54th annual meeting of the World Economic Forum in Davos, Switzerland, January 16, 2024. Denis Balibouse | ReutersBig Tech is doubling down on investing billions in India, drawn by its abundance of resources for building data centers, a large talent and digital user pool, and market opportunity.In under 24 hours, Microsoft and Amazon pledged more than $50 billion toward India’s cloud and AI infrastructure, while Intel on Monday announced plans to make chips in the country to capitalize on its growing PC demand and…
Police used a water cannon early Wednesday to disperse a sit-in led by Aleema Khan outside Adiala Jail after authorities declined permission for a meeting with the incarcerated Former prime minister and PTI founder Imran Khan. Aleema Khan, along with her sisters Noreen Khan and Dr Uzma Khan, had begun the protest at around 2pm on Tuesday, joined by party workers and former senator Mushtaq Ahmad Khan. The sit-in continued for nearly 12 hours until police launched an operation at about 2.10am, deploying high-pressure cold-water spray to clear the road. عمران خان کے بہنوں پر تشدد۔۔۔دسمبر کے مہینے میں رات…
FinMin, UK minister discuss reforms, cooperation as Green Compact and education gateway launchedPakistan, UK hold first development dialogue in 8 years amid record £5.5bn trade Federal Minister for Finance Muhammad Aurangzeb and the United Kingdom’s Minister for Development, Baroness Chapman, held the first federal-level Pakistan–UK development talks in eight years on Wednesday, discussing economic cooperation and Pakistan’s structural reform agenda. The meeting was also attended by British High Commissioner Jane Marriott. Chapman’s visit comes at a time when UK–Pakistan bilateral trade has crossed £5.5 billion for the first time, with more than 200 British companies currently operating in Pakistan. Officials…