Microsoft on Tuesday unveiled USD23 billion in new artificial intelligence investments, with the bulk earmarked for India as the US tech giant deepens its bet on one of the world’s fastest-growing digital markets. CEO Satya Nadella said Microsoft would spend USD17.5 billion in India in its largest investment in Asia, building on a USD3 billion commitment announced earlier this year. The four-ye
Oil prices held steady on Wednesday after falling about 1% in the previous session, as concerns over supply outpacing demand capped gains and investors watched for progress in Russia-Ukraine peace talks. Brent crude futures were up 11 cents, or 0.2%, to $62.05 a barrel at 0241 GMT. U.S. West Texas Intermediate crude was at $58.38 a barrel, up 13 cents, or 0.2%. While the oil market is moving
The Pakistani rupee strengthened against the US dollar, appreciating 0.06% during the opening minutes of trading in the inter-bank market on Wednesday. At 10am, the local currency was hovering at 280.23, a gain of Re0.17 against the greenback. On Tuesday, the local unit closed at 280.40. Globally, the yen looked punch-drunk on Wednesday after a sudden spill overnight, pressured by wide in
The Pakistan Stock Exchange (PSX) opened the week on a strong note as bullish sentiment dominated trading throughout the session. Investor confidence was buoyed by expectations that the International Monetary Fund (IMF) Executive Board would approve the long-awaited $1 billion disbursement for Pakistan later in the day. The benchmark KSE-100 index touched the day's peak at 168,755 and the low a
Bullish sentiments were observed at the Pakistan Stock Exchange (PSX), with the benchmark KSE-100 Index gaining nearly 1,000 points during the intra-day trading on Tuesday, as investors rejoice after the International Monetary Fund’s (IMF) Executive Board on Monday approved the disbursement of $1.2 billion for Pakistan under the Extended Fund Facility (EFF) and the Resilience and Sustainability Fa