After two straight recovery sessions following a ruthless bloodbath in the last week, the bears on Tuesday again drove the bulls out of the stock market, causing investors a staggering loss of Rs690 billion in a single day. The market opened in the green and surged 1,112 points to hit an intraday high of 115,036.50. However, bears entered the market and wiped out 1,630 points to 112,294.42.
IT has been a heady year that we are saying farewell to. A hard-fought stability was brought to the economy in 2024, but at a steep cost. Politics had to be ended, rights rolled back, and decision-making centralised in the hands of the establishment before any of the stability could be procured. It was done, and here we are. The most ferocious inflationary fire we have ever seen in our history
Honda and Nissan expect big benefits from their potential merger to create the world’s third-largest auto group but intense competition from China raises questions about whether they can make it work in time. The Japanese automakers said on Monday they had agreed to begin formal talks on a merger. While the outcome is not certain and will depend partly on troubled Nissan making progress in its tur
The International Monetary Fund said on Tuesday that it has reached a deal with Egyptian authorities allowing the country access to about $1.2 billion. The funding access is subject to executive board approval. “The Egyptian authorities have continued to implement key policies to preserve macroeconomic stability, despite ongoing regional tensions that are causing a sharp decline in Suez Cana
While Pakistan on Tuesday technically disconnected SMW-3 undersea cable, the oldest submarine internet network, at the same time it linked its nodes with the landing station of the new Africa-2 cable network. The new system will be online by the end of next year. The SMW (South Asia-Middle East-West Asia) cable network, the oldest as well as longest in the world, was commissioned in Septembe