Express
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Job cuts expected at banks in Asia | The Express Tribune
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[ad_1] Overall, investment banking fees collected by global banks in the Asia Pacific dropped 25% in 2023 from a recent peak of $40.6 billion in 2021, LSEG data showed. Photo: REUTERS HONG KONG: Job cuts at Western investment banks in Asia are expected to increase this year as revenue pressures rise due to deepening economic…
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Major AI chips designer chases $30b market | The Express Tribune
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[ad_1] SAN FRANCISCO: Nvidia is building a new business unit focused on designing bespoke chips for cloud computing firms and others, including advanced artificial intelligence processors, according to sources familiar with the company’s plans. The dominant global designer and supplier of AI chips aims to capture a portion of an exploding market for custom AI…
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PSX plunges 3.68% after ‘election upset’ | The Express Tribune
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[ad_1] KARACHI: The Pakistan Stock Exchange (PSX) nosedived by 3.68%, equivalent to 2,362 points, soon after opening on Friday. Panic selling ensued in the aftermath of the upset in the general elections, causing the index to hit a 10-day low at 61,782 points. Muhammad Sohail, CEO of Topline Securities, commented briefly, “PSX down…after unexpected election…
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Entrepreneurs seek ethical AI use | The Express Tribune
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[ad_1] KARACHI: Stringent regulatory policies and rules against the misuse of Artificial Intelligence (AI) could ensure a responsible and ethical technology culture among Pakistani youths, say AI coaches and entrepreneurs. They add that local bright youth could fully tap into AI to earn remotely with hands-on projects. They stress that it is high time to…
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Govt to permit re-export of oil by foreign suppliers | The Express Tribune
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[ad_1] ISLAMABAD: The federal government has announced plans to permit the import, local sale, and re-export of petroleum products facilitated by foreign suppliers. This decision, aimed at streamlining trade processes, involves amendments to the Customs Rules, 2001, introducing the Customs Bonded Facilitation Rules, 2024. The Federal Board of Revenue (FBR) has initiated amendments to the…
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Economic revival likely post-polls | The Express Tribune
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[ad_1] LAHORE: As Pakistan heads towards general elections, a ray of hope is emerging among the public and business community. Nearly every individual, no matter rich or poor, businessman or economist, job-seeker or job-holder, is pinning hopes on the upcoming government, believing it will be able to improve the economy and make a sizable reduction…
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UAE fund plans $4-5b investments in India | The Express Tribune
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[ad_1] MUMBAI: Abu Dhabi Investment Authority (ADIA), the largest sovereign wealth fund in the UAE, is setting up a $4-5 billion fund to invest in India through a tax-neutral finance hub in Prime Minister Narendra Modi’s home state of Gujarat, according to two sources with direct knowledge of the matter. The regulatory authority for financial…
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Govt raises 7.5 times lower financing at T-bills auction | The Express Tribune
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[ad_1] KARACHI: The government has raised financing 7.5 times lower than the target, reaching Rs64 billion through the auctioning of sovereign debt securities (T-bills), while managing to stabilise the rate of return at around 20.4%. Commercial banks demanded a significantly higher rate of return (interest rate) to lend money to the cash-strapped government. This was…
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Pakistan, Germany ink deals worth €45m | The Express Tribune
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[ad_1] ISLAMABAD: Pakistan and Germany on Wednesday signed Euro 45 million assistance agreements on Technical Development Cooperation for starting new bilateral cooperation projects. Dr Kazim Niaz, Secretary for Economic Affairs Pakistan, and Alfred Grannas, German Ambassador to the Islamic Republic of Pakistan, witnessed the ceremony for the signing of Euro 45 million agreements on Technical…
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Smartphone scheme faces opposition | The Express Tribune
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[ad_1] ISLAMABAD: Cabinet members and two telecom operators have opposed the scheme of providing smartphones to the public on easy instalments. The issue was taken up in a meeting of the cabinet held last month by the Ministry of Information Technology & Telecommunication, which proposed to issue a policy directive to encourage Cellular Mobile Operators…
