Asian shares retreated from record highs on Friday as worries about shrinking margins in the tech sector hit the likes of Apple, driving investors into safe-haven bonds ahead of key US inflation data. Overnight on Wall Street, the technology-heavy Nasdaq Composite tumbled 2% after Cisco Systems posted quarterly adjusted gross margin below estimates as costs of memory chips surged. That drove it
The Ministry of Information Technology and Telecommunication has proposed two major technology initiatives set to launch in 2026 — a USD1 billion National AI Ecosystem Development Program (NAIEDP) and a Rs70 billion Pakistan Digital Infrastructure Connectivity Plan including mobile broadband, fiberization and regional corridor — signalling an ambitious push to transform the country’s digital lands
Gold rebounded on Friday, recovering from a nearly one-week low in the previous session, as investors awaited key US inflation figures for guidance on interest rate direction following robust jobs data that reduced expectations of rate cuts. Spot gold was up 1.3% at $4,982.59 per ounce, as of 0311 GMT, and has gained 0.4% so far this week. US gold futures for April delivery climbed 1.1% to $
Oil prices were little changed on Friday after falling in the previous session, and are set for their second weekly decline, on receding concerns of an Iranian conflict that could affect supply and on forecasts supply will exceed demand this year. Brent crude oil futures were up 3 cents, or 0.04%, at $67.55 a barrel at 0205 GMT after falling 2.7% in the previous session. US West Texas Interm
Habib Metropolitan Bank Limited has approved an increase in the capital of its 100% owned subsidiaries, HabibMetro Exchange Services Limited and Habib Metropolitan Financial Services Limited to ensure smooth operations. The HabibMetro Exchange Services’ capital is being raised from Rs1 billion to Rs1.5 billion, a notice to the Pakistan Stock Exchange (PSX) read. The decision was taken by the