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A federal judge on Monday rejected Apple’s bid to dismiss a major antitrust lawsuit brought by the U.S. Department of Justice (DOJ), clearing the way for a landmark legal battle over the company’s alleged monopoly in the smartphone market. District Judge Julien Neals of New Jersey ruled that the government had sufficiently shown that Apple…
The federal government has asked the National Electric Power Regulatory Authority (Nepra) to ensure uniform electricity tariff rate across the country, including the territory of K-Electric (KE). This will be achieved via incorporating subsidies, surcharges and inter-disco tariff rationalisation from July 1, 2025. The Power Division in its motion has referred to tariffs for Discos…
The federal government has decided to move forward with an increase in electricity prices. The Central Power Purchasing Agency (CPPA) has officially filed a petition seeking a hike in electricity tariffs. The request proposes an increase of 10 paisas per unit under the head of fuel price adjustment. The petition has been submitted to the…
In a decision expected to offer relief to millions of electricity users, the federal government is poised to scrap the Rs35 monthly Pakistan Television (PTV) fee currently charged through electricity bills. Prime Minister Shehbaz Sharif is expected to make a formal announcement soon, ending a longstanding levy that affects over 40 million residential, commercial, and…
The equity market opened higher on Friday as investor sentiment improved on renewed US-Pakistan trade ties and parliamentary approval of the federal budget. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index climbed to an intraday high of 123,628.23, gaining 1,581.77 points, or 1.3%, and touched a low of 122,222.69, reflecting an uptick of 176.23 points,…
The equity market rose sharply on Wednesday amid strong investor confidence in the newly announced federal budget, with analysts pointing to favourable tax treatment and IMF-aligned fiscal discipline as key drivers of sentiment. The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index climbed to an intraday high of 124,135.96, gaining 2,111.52 points, or 1.73%, and touched…
The Federal Budget for the next fiscal year will be presented in the National Assembly on Tuesday. Finance Minister Muhammad Aurangzeb will present the Federal Budget in the National Assembly. Later, he will lay a copy of the Finance Bill, 2025, containing the Annual Budget Statement before the Senate.
An employee counts Pakistani rupee notes at a bank in Peshawar. — Reuters Economic survey to be unveiled on June 9 as part of budget preparations. No agreement reached with IMF on budget targets in recent negotiations. Talks with IMF will continue into next week to finalise budget details. The federal government will now present…
The U.S. Federal Trade Commission dropped a case that sought to block Microsoft’s (MSFT.O), $69 billion purchase of “Call of Duty” maker Activision Blizzard, saying on Thursday that pursuing the case against the long-closed deal was not in the public interest. FTC Chairman Andrew Ferguson is seeking to use the agency’s resources for cases that…
The International Monetary Fund (IMF) has urged Pakistan to gradually phase out federal funding for provincial development projects under the Public Sector Development Programme (PSDP). According to sources, the IMF made this demand during virtual discussions with provincial governments, focusing on expenditure plans for the 2025-26 fiscal budget, with provinces actively participating in these sessions….
