As Anthropic prepares for what could be one of the biggest IPOs on record, Wall Street is looking further into the future than it commonly does to put a price on the AI company, valuing it based on how much revenue it could generate two years from now. Anthropic is projecting 2028 revenue of roughly…
SAN FRANCISCO: The S&P 500 closed lower on Friday, dipping from a record high and weighed down by Applied Materials, while investors digested weaker-than-expected retail sales data. Applied Materials fell 5.1% after its upbeat quarterly forecast failed to impress investors. The chip equipment maker’s shares have doubled in 2026 due to strong demand related to…
Says business leaders not merely conduct trade but also build bridges of friendship ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) hosted its International Excellence Awards 2026 in Istanbul, bringing together senior Turkish government officials, diplomats, leading Pakistani and Turkish business figures and representatives of the business community to celebrate Pakistan’s entrepreneurial excellence and…
FRANKFURT: Germany delayed this week an interim report about the implications of the lignite exit in its biggest state, fuelling market expectations that the government could choose to let some plants run longer than initially planned. What has happened? Germany agreed in 2022 with its biggest power producer RWE to phase out lignite-fired power production…
BENGALURU: Alphabet’s early bet on SpaceX has multiplied more than 100-fold, with the Google parent disclosing a stake worth about $94 billion at the end of June, up from a $900 million investment in Elon Musk’s rocket company in 2015. Alphabet has emerged as by far the largest single institutional holder of SpaceX following its…
MEXICO CITY: Nvidia has revised its plans to support a proposed OpenAI data centre project in Ohio and is now expected to initially guarantee less than $120 billion, down from the $250 billion previously discussed, the Wall Street Journal reported on Friday, citing people familiar with the matter. The Journal said Nvidia and OpenAI are…
Govt mulls over setting up development bank, rationalising import and export policies Federal Minister for Economic Affairs and Establishment Division Senator Ahad Cheema ISLAMABAD: Federal Minister for Economic Affairs and Establishment Division Senator Ahad Cheema chaired a high-level meeting to oversee major regulatory, operational and financial reforms within the construction sector. The meeting was attended…
ISLAMABAD: Federal Minister for Finance and Revenue Muhammad Aurangzeb said on Thursday that Pakistan’s macroeconomic stability had taken hold and reforms had moved from intent to implementation, as the country marked its 79th Independence Day. In a message issued on the occasion, he said strengthening fiscal and external fundamentals was contributing to rising economic and…
Sustainable growth now depends less on acquiring users and more on delivery economics, payment reliability, customer retention and disciplined execution. photo: file ISLAMABAD: Pakistan’s digital economy is beginning to move from potential to proof due to expanding digital payments and platforms shifting from subsidised growth towards profitability and sustainable unit economics. For much of the…
Punjab, Sindh refuse financial obligation, seek federal stocks after failing to buy locally ISLAMABAD: Days after the Centre decided to import one million metric tonnes of wheat to arrest soaring prices, two of the largest wheat deficient provinces – Punjab and Sindh – have backtracked from buying the imported commodity and have not yet given…