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In a historic achievement, the Pakistan Stock Exchange (PSX) crossed the milestone of 111,000 points shortly after the market opened today. The benchmark KSE-100 Index surged by over 1,000 points within the first five minutes of trading, registering an impressive gain of 1,044 points to reach 111,014 points. The rise reflects growing investor confidence and a buoyant market sentiment.

OpenAI said on Monday it has released its artificial intelligence model, which creates video from text, to ChatGPT Plus and Pro users, expanding its foray into multimodal AI technologies. The Microsoft-backed company, which kicked off a generative AI craze with the launch of its ChatGPT chatbot in November 2022, aims to target similar text-to-video tools from Meta and Alphabet’s Google, along with Stability AI’s Stable Video Diffusion. The AI model, named Sora, was first introduced in February, but its access was limited to safety testers in its research preview phase. It is now available to ChatGPT Plus and Pro users…

ISLAMABAD (ID NEWS) : The 4th Edition of the Margalla Backyard Ultra 2024 (MBU), Pakistan’s premier Backyard Ultra running event, concluded with an extraordinary showcase of endurance, determination, and community spirit. Held in F9 Park and organized by the Margalla Trail Runners (MTR), the event brought together 108 runners, including children and international participants, for a race that lasted an impressive 35 hours. In a groundbreaking moment, Israr Khattak emerged as the last one standing, completing 35 loops that is equal to 234.5 KM and setting a new record by surpassing last year’s benchmark of 34 loops. His exceptional achievement…

Oil prices eased only slightly on Tuesday, holding on to most of their gains from the prior session as mounting geopolitical risk after the fall of Syrian President Bashar al-Assad and China’s vow to ramp up policy stimulus kept a floor under prices. Brent crude futures were down 13 cents, or about 0.2%, at $72.01 per barrel. U.S. West Texas Intermediate crude futures were down 14 cents, also 0.2% lower, at $68.23 at 0151 GMT. Both climbed more than 1% on Monday. “Rising geopolitical tension in the Middle East following the collapse of the Syrian government has added a little risk premium to crude…

ISLAMABAD :Like other parts of the globe, World Human Rights Day is being observed on Tuesday (today) in Pakistan with the theme for this year “Our rights, our future, right now”. Human Rights Day aims to raise awareness and encourage action to uphold human rights globally. It is observed annually to commemorate the adoption and proclamation of the universal declaration of human rights by the united nations general assembly on December 10, 1948. This year marks the 76th anniversary of one of the world’s most groundbreaking global pledges: the Universal Declaration of Human Rights (UDHR). This landmark document enshrines the…

The UAE is set to introduce a Domestic Minimum Top-up Tax (DMTT) starting from financial years beginning on or after January 1, 2025. This new tax applies to multinational enterprises (MNEs) operating in the UAE with consolidated global revenues of €750 million or more in at least two of the four financial years preceding the year the DMTT takes effect. Under the standard UAE corporate tax rate of 9%, the DMTT will require qualifying multinationals to pay an additional annual tax on their UAE-generated revenues. This move aligns with the UAE’s commitment to the Organisation for Economic Co-operation and Development’s…

The University of Gwadar hosted a two-day Business and Cultural Gala, bringing together students, civil administration, military officials, and local stakeholders to showcase regional potential and entrepreneurial creativity. Supported by the civil administration and Pakistan Armed Forces, the event highlighted Gwadar’s strategic importance under CPEC, featuring business exhibitions, cultural performances, and panel discussions on economic development and cultural preservation. Students demonstrated innovative products and startup ideas, while traditional music, dance, and handicrafts celebrated local heritage. The gala underscored Gwadar’s role as a hub for youth innovation, cultural exchange, and regional collaboration.

BEIJING (ID NEWS)  : On the morning of December 10, President Xi Jinping had a collective meeting with the leaders of major international economic organizations at the Great Hall of the People in Beijing. President Xi posed for a group photo with the participating leaders at the beginning of the meeting, and thanked the leaders for their long-time support for China’s modernization. President Xi pointed out that with the acceleration of unprecedented global transformation, the world has entered a new period of turbulence and change, and once again come to a critical crossroads. Humanity is a closely entwined community…

The heads of several international economic organizations expressed confidence in China’s economy at a dialogue meeting on Monday, according to an official with the Chinese Ministry of Finance. China held the “1+10” dialogue in Beijing with the heads of 10 international economic organizations on Monday morning. The attending representatives affirmed the progress made by China in supporting economic growth and promoting structural adjustments at the dialogue, said Liao Min, vice minister of finance. Liao said that the representatives believe that the Chinese government can reinforce market confidence and achieve stable and sustainable economic growth. The representatives also said that the…

The Political Bureau of the Communist Party of China (CPC) Central Committee on Monday held a meeting to analyze and study the economic work for 2025 and arrange Party conduct and anti-corruption work. The meeting was chaired by Xi Jinping, general secretary of the CPC Central Committee. This year is crucial for achieving the objectives and tasks laid down in the 14th Five-Year Plan (2021-2025), and the economic operation has been generally stable with progress made. The country’s economic strength, scientific and technological capabilities, and composite national strength have continued to improve, according to the meeting. The main goals and…