While Sri Lanka may not be a model of democracy, the outcome of its presidential elections demonstrates that the country is moving in a democratic direction. The polls were free and fair, and their results were accepted by all contesting political parties. No less significant was the promise of the newly-elected president of Sri Lanka, Marxist-leaning Anura Kumara Dissanayake, to get some of hi
Pakistan is at a crucial juncture, facing both a growing brain drain and the global impact of artificial intelligence (AI)-driven job displacement. While AI transforms industries and automates jobs, some nations are turning to universal basic income (UBI) as a safety net. Geoffrey Hinton, the “godfather of AI”, has warned that without such measures, AI could deepen inequality, benefiting only t
Pakistan Stock Exchange (PSX) ended its winning streak on Thursday and rapidly declined in a volatile session, driven by institutional profit-taking as uncertainty loomed over the government's tax reforms under the $7 billion International Monetary Fund (IMF) loan programme. Earlier, trading began on a robust note, with the KSE-100 index reaching its intra-day high of 82,905.73 points. However,
BF Biosciences has successfully raised Rs1.93 billion by selling 25 million shares at Rs77 each through a two-day Dutch auction that concluded at the Pakistan Stock Exchange (PSX) on Thursday. The funds will be utilised to acquire export certificates to boost sales in Central America, Africa, and Afghanistan, increase working capital, and add new products, it was learnt. The offering was oversu
Pakistani textile firms are reportedly receiving additional export orders from global buyers due to rising costs and political instability in competitor Bangladesh, along with international restrictions on China. As a result, the industry's exports hit a 26-month high of $1.64 billion in August 2024, marking a significant 13% increase compared to the same month last year. In a commentary titled