Chip slump erases $1.3tr in stock value

SAN FRANCISCO: US-traded chipmakers plunged on Friday, losing about $1.3 trillion in market value, with deep losses in AI heavy hitters including Nvidia, Micron Technology and Advanced Micro Devices, as Broadcom’s weak report earlier this week reverberated across Wall Street. The PHLX chip index slumped 10.3% in its deepest one-day loss since March 2020, when…

Read More

Sugar export push sparks debate

LAHORE: Every year or two, the Pakistan Sugar Mills Association (PSMA) writes a letter to the government. The words change slightly, the numbers grow larger, but the request remains the same, ie, let us export surplus sugar. A fresh letter landed on Deputy Prime Minister Ishaq Dar’s desk on May 31 and the cycle has…

Read More

US lawmakers warn of potential gap ahead of June 12 deadline for intelligence law extension

Caution lapse in Section 702 of Foreign Intelligence Surveillance Act could disrupt foreign intelligence collection View of the US Senate chamber on Capitol Hill in Washington, United States. PHOTO: Reuters Two Republican lawmakers warned United States Secretary of State Marco Rubio on Saturday of a potential intelligence gap, accusing Democrats of backing away from extending key…

Read More

Content creators fear new taxes

“Don’t discourage us,” digital voices oppose proposed tax on earnings, suggest classification framework KARACHI: Content creators and influencers across various digital platforms have urged the government to refrain from imposing new taxes on their earnings in the upcoming budget, arguing that the sector contributes valuable foreign exchange earnings while promoting informative and knowledge-based content for…

Read More

PSX dips 3,500 points on peace uncertainty

KARACHI: The Pakistan Stock Exchange (PSX) experienced cautious and largely range-bound trading throughout the week as prolonged uncertainty surrounding peace talks between the United States and Iran kept investor sentiment subdued. At the commencement of the trading week, “peace deal uncertainty triggered profit-taking”, remarked Ali Najib, Deputy Head of Trading at Arif Habib Ltd (AHL)….

Read More

NEC likely to approve Rs1.13tr uplift plan

ISLAMABAD: The federal government is expected to approve a development outlay of around Rs1,126 billion for the fiscal year 2026-27 during the upcoming National Economic Council (NEC) meeting scheduled for tomorrow (Monday), according to finance ministry sources. The meeting, chaired by Prime Minister Shehbaz Sharif, is likely to consider an increase of approximately Rs200 billion…

Read More