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Federal Minister of Finance and Revenue Muhammad Aurangzeb briefed his Saudi counterpart on Pakistan’s ongoing privatisation drive, including the divestment of Pakistan International Airlines (PIA) and key airports, underscoring the government’s resolve to attract strategic investments through transparency and efficiency. The development came during Aurangzeb’s meeting with Mohammed Aljadaan, Finance Minister of the Kingdom of Saudi Arabia (KSA), on the sidelines of the IMF–World Bank Annual Meetings in Washington DC, read a statement released by the Finance Division on Thursday. The PIA privatisation process is in its final stages, with the government aiming for a sale by the end of…

Amreli Steels Limited announced on Thursday that it had signed and executed the Master Restructuring Agreement (MRA), allied documents, agreements, and banking syndicates. The company shared the development in a notice to the Pakistan Stock Exchange (PSX) today. It said that the agreement was executed with Bank Alfalah Limited acting as the lead bank and Pak Brunei Investment Company Limited serving as the agent and security agent. “This execution marks a significant milestone for the company, signifying the culmination of a collaborative effort between Amreli Steels and its financial partners,” the notice read. It added that the restructuring will result…

The future of warfare is being powered by a quiet revolution in energy technology, and China has positioned itself at the forefront of this paradigm shift with a new tactic: combining cutting-edge solid-state battery research with strategic export controls on critical battery materials and technology set to take effect next month.These advancements include technologies that push the energy density of batteries to 600 watt-hours per kilogram (Wh/kg) and enable batteries to maintain high capacity after numerous charge-discharge cycles, with some claiming potential for mass production within the next five years.Coinciding with these developments, China’s Ministry of Commerce and the General…

The Pakistan Stock Exchange (PSX) witnessed another volatile session on Thursday, with the benchmark KSE-100 Index shedding over 1,200 points as profit-taking and weak investor sentiment dragged the market lower. Trading initiated on a positive note, pushing the index to an intra-day high of 166,864.89. However, the market was unable to maintain the momentum as investors resorted to profit-taking in the later part of the session, dragging the KSE-100 to an intra-day low of 164,261.65. At close, the benchmark index settled at 164,444.71, a decrease of 1,241.67 points or 0.75%. On the corporate front, Shan A. Ashary, director of KES…

Despite a strong start, the benchmark KSE-100 Index slipped nearly 500 points, as late-session selling erased earlier gains during the intra-day trading at the Pakistan Stock Exchange (PSX) on Wednesday. At 2pm, the benchmark index was hovering at 165,193.99, a decrease of 492.39 points or 0.30%. Selling pressure was observed in key sectors including automobile assemblers, cement, commercial banks and oil and gas exploration companies. Index-heavy stocks including MARI, OGDC, POL, PPL, HBL, MCB and MEBL, traded in the red. In a key development, the International Monetary Fund (IMF) team reached a staff-level agreement (SLA) with the Pakistani authorities on…

Hong Kong is the least ready to fully adopt artificial intelligence in workplaces among 30 global markets, according to a survey by US tech infrastructure and software company Cisco in August and released on Wednesday.Only about 2 per cent of organisations surveyed in the city were considered “pacesetters” – companies that outperformed their peers across a series of measures related to AI adoption. That compared with 13 per cent globally, according to Cisco’s study, which surveyed more than 8,000 senior IT and business leaders responsible for AI strategy across 26 industries.Nearly 99 per cent of pacesetters had a defined AI…

Far from being a historic deal to end war in the Middle East as claimed by US President Donald Trump, the Gaza peace declaration has only established a bloc of regional countries that will work with Washington for now to stabilise the region, observers say.Composed of Egypt, Arab monarchies led by Saudi Arabia, and Nato member Turkey, this “Axis of Stabilisation” in the making will continue to diplomatically engage Iran and its “Axis of Resistance” allies, including Hamas, to reduce the risk of further conflict in the region.Over time, analysts say these countries may establish spheres of influence across the…

The full impact of the US removing import duty exemptions for e-commerce shipments may take a year to reach consumers, similar to the timeline seen after the UK’s exit from the European Union, according to the CEO of DHL Express.Consumers had yet to fully realise the additional costs they might have to bear, said John Pearson.“When Brexit happened, I was receiving calls from customers even one year later, saying the duties charged on their orders must have been incorrect,” he told the Post in an interview in Johannesburg, one of the many hubs the German door-to-door courier operates in Africa,…

All major Chinese airlines operating flights to the United States have formally opposed or asked for reconsideration of a US government proposal that could bar them from flying over Russian airspace on US routes as early as next month.In a filing to the US Department of Transportation on Tuesday, Air China said it “opposes” the proposal because it would make travel more inconvenient for passengers.“Air China estimates that at least 4,400 passengers holding Air China tickets for travel in November and December 2025 will be affected if the proposed restriction takes effect,” the company said.“This period includes major holidays such…

Hong Kong stocks on Thursday extended a rebound from the longest run of declines since January 2024, as investors kept a close watch on mounting tensions between China and the US.The Hang Seng Index rose 0.6 per cent to 26,055.10 as of 10.16am local time, adding to a 1.8 per cent gain a day earlier. The Hang Seng Tech Index added 0.2 per cent.On the mainland, the CSI 300 Index climbed 0.7 per cent and the Shanghai Composite Index advanced 0.3 per cent.Pop Mart International Group, which makes blockbuster intellectual property toy Labubu, rallied 5.9 per cent to HK$289.20 after…