Asian stocks plunge as the AI sell-off spreads from Wall Street
Asian markets plunged on Friday after the Nasdaq fell 5.5%, with chipmakers, SoftBank and AI cloud firms hit as investors feared tougher rules on AI.
Business
Markets, economy, trade, energy and personal finance. Latest business news and analysis from The Indus Compass.
Air pollution costs Pakistan 6.5% of GDP, OICCI says
Air pollution costs Pakistan about 6.5% of GDP and 248,000 premature deaths a year, experts say, as winter smog and falling investment add to the strain.
Mega dams' cost rises to Rs3.5tr as ECC approves Rs275bn
The ECC approved Rs275bn for water projects as the cost of the Diamer-Bhasha, Dasu and Mohmand dams rose 176 per cent to Rs3.5 trillion, officials said.
FBR chairman says government intends to scrap super tax
FBR Chairman Rashid Mahmood Langrial said the super tax rate was already cut by two points and that work has begun on removing it gradually.
Oil falls 9% and gold tops $4,000 after Democrats win Congress
Brent fell 9% to $94.29 and gold climbed back above $4,000 an ounce after Democrats won Congress. In Pakistan gold rose Rs13,900 a tola to Rs426,036.
Saudi Arabia rolls over $3bn loan to Pakistan as US facility fades
Finance Minister Aurangzeb confirmed Saudi Arabia has extended its $3bn financing to Pakistan, as the proposed $10bn US facility looks increasingly unlikely.
KSE-100 crosses 170,000 on hopes of easing US-Iran tensions
The KSE-100 gained 2,567 points to 170,586 by 1.19pm on Wednesday, as the US midterm result and Qatar's mediation lifted hopes of easing Iran war tensions.
Sindh cuts wheat release price by Rs500 to Rs4,500 per 40kg
Sindh's cabinet cut the wheat release price from Rs5,000 to Rs4,500 per 40kg, with flour falling Rs15 to Rs17 a kilo; it also approved a $1bn urban plan.
PM Shehbaz tells SBP to show banks no leniency on SME and farm loans
PM Shehbaz Sharif told the SBP and finance ministry not to go easy on banks that are slow lending to farmers, SMEs and Apna Ghar borrowers.
Adrian Hamilton-Manns becomes PIA's new chief executive
PIA's board has appointed Adrian Hamilton-Manns, a former SalamAir and FlyArystan chief, as chief executive, replacing AVM Amir Hayat after 4.5 years.
Consumer inflation eases to 9.6pc in October from 10.3pc
Pakistan's annual consumer inflation slowed to 9.6pc in October from 10.3pc as food prices eased, but transport and electricity costs kept rising, PBS says.
Petrol cut by Rs3.4 and diesel by Rs7.76 for November 3
Petrol falls Rs3.4 to Rs374.51 and diesel Rs7.76 to Rs395.20 for November 3, as the government says refineries will absorb Rs15bn a month to hold prices down.
Pakistan takes over SCO Interbank Consortium chair for 2026-27
Pakistan has assumed the chairmanship of the SCO Interbank Consortium for 2026-27, with HBL's Sultan Ali Allana at the helm, alongside its overall SCO chair.