The purchase of physical assets was eclipsed last year by a surge in investment in intangible items like software, data and AI, the UN said on Wednesday, describing a “fundamental shift in how economies grow and compete”. Investment in intellectual property-backed assets grew three times faster in 2024 than investments in physical objects like machinery and buildings, which have been hit by hig
Wall Street’s main indexes climbed higher on Wednesday, with Nvidia soaring to a $4 trillion valuation, while investors shrugged off President Donald Trump’s latest tariff salvo. Nvidia rose 2.2 per cent to become the first company to ever hit $4 trillion in market value, solidifying its position as one of Wall Street’s most-favoured stocks to tap in the ongoing surge in demand for artificial i
Prime Minister Shehbaz Sharif expressed his satisfaction on Wednesday as data showed that workers’ remittances increased by 26.6 per cent to hit a record $38.3 billion during the fiscal year 2025 as compared to the corresponding period of last year. The State Bank of Pakistan said remittances reached $38.3bn during July-June 2024-25, as compared to the $30.3bn in remittances received during the
Finance Minister Muhammad Aurangzeb on Wednesday reaffirmed the government’s commitment to maintaining a consultative policy framework as the Pakistan Business Council (PBC) transitioned its leadership. Aurangzeb met with a delegation of the PBC led by outgoing Chief Executive Officer (CEO) Ehsan Malik and incoming CEO Javed Kureishi at the Finance Division, the division said in a press release
The Pakistan Stock Exchange (PSX) extended its record-setting rally into the fifth consecutive session on Thursday, with the benchmark KSE-100 index closing at an all-time high, driven by robust buying interest across key sectors. Ahsan Mehanti of Arif Habib Corporation attributed the bullish momentum to the government’s decision to cut rates on National Savings Schemes, prompting a shift of c