The Board of Directors of K-Electric (KE) in its meeting held on Tuesday, approved the financial results for the company for the year ended June 30, 2024. Pakistan’s economy in fiscal year 2024 had remained largely subdued and economic activity showed modest improvement, with actual GDP growth of 2.51 percent while high inflation and policy rates remained a dominant challenge. These factors con
OpenAI, Oracle and SoftBank on Tuesday announced plans for five new artificial intelligence data centers in the United States to build out their ambitious Stargate project. US President Donald Trump in January hosted top tech CEOs to launch Stargate, a private-sector initiative that plans to spend up to $500 billion to build AI infrastructure. AI is a priority for Trump and tech companies th
Investors took a cautious approach on Monday, with the Pakistan Stock Exchange (PSX) ending lower as concerns about the upcoming review of Pakistan’s economic performance by the International Monetary Fund (IMF) weighed on sentiment. The IMF mission is due on Sept 25. The benchmark index started the rollover week on a volatile note, swinging between gains and losses. At one point, the index sur
Karachi is not a green city by any stretch of the imagination, unlike some of the other big cities. But even by our twisted standards, there is a strange dejection in the air the moment you enter Korangi or cross Mausamiyat in the afternoon. It’s not because you have to take University Road (whatever patches exist) for the latter, but because the scorching sun directly shines on you, with hardl
Over the past decade, the Thar desert subdistrict of Islamkot, located in district Tharparkar, has experienced a dramatic transformation. What was once a mostly barren landscape has now given way to expanding infrastructure with the distinctive stamp of industrialisation. This change, accelerated by the development of Pakistan’s largest lignite coal reserves, is often welcomed as a sign of nati