Category: Business Zone
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Unprecedented Demand for AI and Cutting-Edge Technologies Drive Phenomenal Growth In 2023, semiconductor giants such as TSMC and Samsung, pivotal suppliers of chip technology to major tech players like AMD and Nvidia, achieved record-breaking profits. The surge was fueled by an unparalleled demand for AI and other computer chips, according to reports by Bloomberg. The…
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The Directorate of Customs has recently enforced an updated regulation known as Valuation Ruling No. 1834/2023, replacing its prior version issued nine months earlier. This new ruling is designed specifically for appraising the worth of mobile phones and operates under the provisions outlined in Section 25-A of the Customs Act, 1969. This official documentation details…
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In a strategic move directed by the Sindh Agriculture Department, the Sindh caretaker government has chosen to import 52,800 metric tonnes of urea at a cost of approximately Rs4.5 billion for the ongoing Rabi crop season 2023-24. This decision was made during a recent cabinet meeting due to the federal government’s directive requiring Sindh to…
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Private airlines in Pakistan are reportedly taking advantage of the ongoing crisis within Pakistan International Airlines (PIA) by significantly increasing the fares for domestic flights. According to local reports, private airlines are charging passengers between Rs. 40,000 to Rs. 70,000 for domestic flights, with prices for flights from Karachi to Lahore reaching up to Rs.…
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Bitcoin made a significant move on Friday, surging above the $30,000 mark for the first time since July. This strong uptick resulted in gains of over 10% for the week, showcasing the cryptocurrency’s resilience amid ongoing market volatility. The world’s largest cryptocurrency, Bitcoin, reached a high of $30,022, marking its highest level since July 23.…
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In response to the recent appreciation of the Pakistani rupee, Indus Motor Company Ltd (IMC) has reduced car prices by Rs100,000 to Rs1.310 million. On the other hand, Pak Suzuki Motor Company Ltd (PSMCL) has announced a temporary suspension of car and motorbike production. In an official stock filing, PSMCL stated that their car manufacturing…