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PSX gains over 1,600 points as buying momentum returns

KARACHI: Buying momentum returned to the Pakistan Stock Exchange (PSX) on Wednesday, with the benchmark KSE-100 index gaining 1,666.85 points, or 0.94%, to reach 179,359.77 by 1:24pm. The market maintained its upward trajectory after a positive start to the session. Earlier in the morning, the benchmark index had climbed 551.65 points, or 0.31%, to 178,244.57…

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Bilawal Bhutto slams Khawaja Asif over AJK remarks

Questions why he remained in the cabinet, accuses some govt members of creating political problems for PM Pakistan Peoples Party chairman Bilawal Bhutto Zardari speaking on the floor of the National Assembly. SCREENGRAB PPP Chairman Bilawal Bhutto Zardari on Wednesday criticised Defence Minister Khawaja Asif over remarks about Azad Jammu and Kashmir (AJK), questioning why…

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UK tribunal allows $4b Apple case to proceed

Collective proceedings could involve tens of millions of Apple users over iCloud services LONDON: Britain’s competition tribunal has approved a £3 billion ($4 billion) lawsuit against Apple over its iCloud storage service, consumer group Which? said on Tuesday, clearing the way for tens of millions of consumers to join a collective action. The Competition Appeal…

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Security curbs disrupt life in twin cities

RAWALPINDI: Life across the twin cities of Rawalpindi and Islamabad came to a near standstill on Tuesday as unprecedented security arrangements were enforced for the arrival of Iranian President Dr Masoud Pezeshkian in Islamabad and the central Muharram Mehdi procession in Rawalpindi. Authorities implemented extensive security measures, including the placement of hundreds of shipping containers…

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UAE’s Kemyion acquires BASF Pakistan

CCP says Kemyion not operational in Pakistan, transaction won’t affect market concentration ISLAMABAD: The Competition Commission of Pakistan (CCP) has approved the acquisition of 100% shareholding of BASF Pakistan (Private) Limited by UAE-based Kemyion Chemical Solutions Trading FZCO following a Phase-I review under the Competition Act, 2010, according to a statement issued on Tuesday. Kemyion…

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Pakistan to continue efforts for lasting regional peace, Naqvi assures Momeni

Both sides agree to enhance cooperation in several areas, including counterterrorism, cybersecurity and immigration Interior Minister Mohsin Naqvi meets his Iranian counterpart Eskandar Momeni in Islamabad. SCREENGRAB Interior Minister Mohsin Naqvi assured his Iranian counterpart, Eskandar Momeni, during a meeting on Wednesday that Islamabad would continue its efforts for lasting peace in the Middle East….

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KDLB layoff cost hits Rs24b

Govt okays Rs5b share, AD Ports refuses to absorb 2,545 workers forcing KPT to bear Rs19b liability ISLAMABAD: The government has moved to lay off around 2,545 dock workers of the Karachi Dock Labour Board (KDLB) after AD Ports refused to take their services. These workers, employed for over 50 years, will cost approximately Rs24…

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