Category: Uncategorized

  • Gold price decreases Rs500 per tola to Rs275,500 in local market

    Gold price decreases Rs500 per tola to Rs275,500 in local market

    Gold price in Pakistan continued to decline on first trading day of the week mirroring the decrease in global rates.

    In Pakistani bullion market, the price of one tola of 24-karat gold was recorded at Rs275,500, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). It is worth noting that this price is Rs500 down from the Saturday’s closing rate of Rs276,000 per tola.

    The price for ten-gramme-gold also dropped by Rs428 to Rs236,197.

    On Saturday, gold price was recorded Rs700 per tola down from the previous closing.

    Interestingly, silver prices remained unchanged for another day at Rs3,050 per tola in local market.

    Gold prices in the last week were seen at record peak of Rs277,000 per tola before witnessing three consecutive days of decline.

    Moreover, the gold price in international bullion market were recorded approximately $4 down, clocking in at $2,653 per ounce. This rate also includes a premium of $20.

  • Stock market witnesses decline: Investor confidence plummets amidst political turmoil

    The trading floor of the Pakistan Stock Exchange (PSX) buzzed with worried whispers today as traders witnessed a slump in the KSE-100. A drop of 177.93 points (or 0.22 per cent) in the Karachi Stock Exchange – KSE-100 – reflected the bearish sentiments gripping investors, causing them to prefer selling their shares over holding them.

    Meanwhile, the secondary benchmark for the PSX, the All Share Index (ALLSHR), fared even worse. It dropped by 163.78 points, equivalent to an alarming 0.32 per cent drop.

    What’s especially worrying is the dip in the KSE-30. This index, which monitors the performance of the shares of the largest and most traded companies, witnessed a decline of 0.13 per cent.

    Moreover, the day spelt bad news for individuals who had invested in KMI30 (Meezan index), as it experienced a sharp plummet of 543.59 points, which translates into a 0.44 percent drop.

    Local companies, such as PIA holding company B, saw a massive share value decrease of PKR 67.29, translating into an ugly 7.28 per cent decrease in share value. Some companies, such as Siemens Pak and Shell, however, stayed in the green.

    Could this result in a diversion of investments from local to multinational companies?

    What is certain, though, is that the drop in these indexes and the fall in prices of local companies reflect falling investor confidence in the local economy. This can safely be attributed to the recent political instability, with KPK’s Chief Minister Ali Amin Gandapur calling for a revolution and stating that they will adopt a “bullet for bullet” modus operandi.

    If this bearish trend persists, the hysteria could spread overseas to foreign investors with vested interests in the PSX, thus triggering panic selling. This can be detrimental as, according to the PSX financial highlights, 14.49 per cent of all outstanding shares are currently held by foreign investors.

    Companies will surely look towards the SBP (State Bank of Pakistan) to lower interest rates. The new rates would enable companies to raise capital by incurring debt instead of giving up equity to shareholders.

    While this is a good answer to curbing the PSX’s decline by encouraging greater investment levels supported by borrowing, the question now arises: Will this be the answer for the SBP, too?

  • Indian singer Diljit wins hearts by promoting Pak-India love

    Indian singer Diljit wins hearts by promoting Pak-India love

    Indian singer Diljit Dosanjh became an ambassador of love between India and Pakistan during a performance in the UK.

    During the concert in Manchester, Diljit invited one of his fans on stage, gave her a gift, and asked, “Where are you from?” As soon as the fan mentioned Pakistan, Diljit expressed his affection for Pakistanis.

    In May this year, Diljit also sang Pakistani singer Arif Lohar’s ‘Jugni’ during a performance in Dells, USA.

    Diljit Dosanjh, who began his artistic journey in the Indian city of Jalandhar in 2002, is now one of the biggest Punjabi superstars.

    Check the video below:

  • Gandapur clarifies ‘barat and dhol’ comment at Islamabad rally ‘meant nothing’

    Gandapur clarifies ‘barat and dhol’ comment at Islamabad rally ‘meant nothing’

    Khyber Pakhtunkhwa Chief Minister Ali Amin Gandapur has stated that his controversial Islamabad rally speech on September 8 was taken “out of context” and misinterpreted.

    Speaking to a delegation of Council of Pakistan Newspapers Editors, Chief Minister Ali Amin Gandapur said that the “color being given to my speech on social media is not correct in Islam and Shariat, I will tell my supporters to avoid immorality in social media posts.”

    On September 8, Gandapur gave a controversial speech targeting journalists and CM Punjab Maryam Nawaz, saying, “We will go to Lahore with Barat and music.”

    He further said, “Media is the fourth pillar of the state with significant responsibilities. I will always take media’s criticism in a positive way and reform.”

    The CM KP also said that the armed forces and police are making daily sacrifices in the war against terrorism.

  • Khan lashes out at Qazi Faez Isa, questions his mental stability

    Khan lashes out at Qazi Faez Isa, questions his mental stability

    Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan, has lashed out at the Chief Justice of Pakistan (CJP) Qazi Faez Isa, questioning his mental stability during a conversation with journalists on Friday.

    “No Chief Justice in the world has acted the way Pakistan’s Chief Justice is behaving. He does not seem mentally sound to me,” exclaimed Khan, accusing the CJP of biased behaviour.

    He also criticised the January 2024 Supreme Court ruling stripping the PTI of its electoral symbol ‘bat’ calling it biased because the “the SC verdict in the reserved seats case has vindicated our stance.”

    The former Prime Minister further alleged that the CJP was involved in “election fraud” and was trying to punish PTI for extending his tenure.

    “The so-called third umpire also seeks an extension, and for that, they need PDM’s support. They are destroying democracy and the rule of law to maintain power while the nation begs for a single dollar,” stated Khan.

  • Meta unveils star-studded AI assistants

    Meta unveils star-studded AI assistants

    Meta launched AI chatbots voiced by Hollywood celebrities like John Cena and Judi Dench on Wednesday, betting that its billions of users are eager to embrace artificial intelligence.

    “I think that voice has the potential to be one of, if not the most frequent ways, that we all interact with AI,” said Meta founder and CEO Mark Zuckerberg at the company’s annual product presentation event. “It is just a lot better,” he said.

    The deployment comes months after OpenAI previewed its own ChatGPT voice feature, which drew controversy for its similarity to actress Scarlett Johansson’s voice.

    Meta has obtained permission from the stars featured in its new voice tool, which will be available on Instagram, Facebook, and WhatsApp. However, Meta AI won’t be accessible in Europe due to concerns about compliance with EU data protection laws and potential fines.

    Meta’s AI relies on content and data from its platforms’ legions of users, a practice that involves numerous obligations and safeguards in Europe.

    400 million users

    Like ChatGPT or Google’s Gemini, Meta AI is an AI assistant that answers questions, creates images, writes messages and even provides companionship.

    This new version builds on the initial release unveiled a year ago. Meta reports that over 400 million people already consult Meta AI at least once a month, and the company aims to make it “the most widely used AI assistant by the end of the year.” Critics, however, point out that many users stumble into MetaAI inadvertently, as it has replaced the search function on apps such as WhatsApp.

    Since ChatGPT’s breakthrough, major tech companies have been rapidly developing AI applications capable of producing high-quality content from simple queries.

    Competition is fierce, with Google and Microsoft having a head start in productivity features, and Apple entering the market with AI-capable iPhones. However, these models require substantial technical infrastructure, energy, and skilled engineers, significantly impacting company resources.

    Meta believes its enhanced assistant sounds more natural, can interact verbally, and analyze images. Like other chatbots, it can suggest recipes from food photos or edit images based on simple user requests.

    Despite concerns about heavy spending on AI and virtual reality, Meta’s profits have soared, with its share price up 60 per cent since the beginning of the year. The company’s success rides on strong advertising results.

    But the social media giant’s heavy spending on AI and virtual reality technology has always been a concern for investors and observers. “When I think about AI, Meta is not necessarily the first brand that comes to mind,” Creative Strategies analyst Carolina Milanesi said.

    “And their biggest hurdle is going to be privacy and trust: a lot of consumers will have issues with trusting that the data is not being used for other reasons.”

  • Is the viral video of Justice Qazi Faez Isa at Crusteez Donuts old?

    Is the viral video of Justice Qazi Faez Isa at Crusteez Donuts old?

    As Chief Justice of Pakistan (CJP) Qazi Faez Isa comes close ro retirement on October 25, 2024, a video has begun circulating on social media, showing an employee of Crusteez Donuts filming the top judge without his consent at Blue Area Islamabad.

     

    The person recording can be heard being rude to Qazi Faez Isa.

     

     

    The video was reportedly shot in August, after the Mubarak Sani case ruling, but it appeared on social media yesterday after the first tweet by journalist Ehtesham Ali Abbasi, a BOL NEWS-associated crime reporter.

     

    He allegedly claimed that the boy who shot the video, along with his family, had been kidnapped after the incident.

     

    He further alleged that on Isa’s order, many branches of this particular bakery were sealed, which is a false claim.

     

     

    A number of visitors can be seen in a video enjoying donuts at the shop.

     

     

     

    However, on September 11, Deputy Commissioner (DC) Islamabad sealed a Crusteez Donut branch after larvae was found at the premises.

     

     

    Journalist Waseem Abbasi clarified, “This branch was never sealed. The owner confirmed it, and the other branch was sealed only because of Dengue larvae.”

     

    Another journalist, Ali Hamza of The News, declared that the video was old.

     

    On X (formerly Twitter), he said, “The video is from last month after Mubarak Sani case judgement.”

     

     

    Senior journalist Mansoor Ali Khan stated on his YouTube channel that when the incident occurred, some journalists mentioned that a well-known figure had been misbehaved with but did not disclose his name.

     

    Pakistan Tehreek-e-Insaf (PTI) leader Chaudhary Fawad Hussain tweeted, “He (video maker) belongs to an extremist group and has a license to humiliate even CJP and evade Law; this is the State we have built in 76 years… sad, very sad.”

     

    He further wrote, “CJP was embarrassed by an extremist while he was with his wife, I have hundreds of reasons to disagree with CJP, but I must condemn such extremism.

     

    The propagation of such disinformation raises serious concerns about extremism in a country where the incumbent Chief Justice of Pakistan is not even safe in public and can be labelled a non-Muslim simply because of his verdict on minority rights.

     

    Meanwhile, Crusteez Donut clarified that the employee’s actions do not reflect company values.

     

  • The Architect of Change: Fasih Ur Rehman’s Green Entertainment

    The Architect of Change: Fasih Ur Rehman’s Green Entertainment

    Leadership is a delicate balance of vision, courage, and discipline. As George Washington said, “True leadership is not just about having a vision; it’s about possessing the will and discipline to turn that vision into reality.” Without discipline, even the grandest vision can fall short. Real success requires relentless dedication, clear goals, and the courage to forge a new path.

    Fasih Ur Rehman, the 27-year-old CEO of Green Entertainment, exemplifies this leadership style. As a rising star in Pakistan’s media landscape, Fasih has applied his engineering background to his media ventures, blending seemingly unrelated fields to achieve a remarkable impact.

    Fasih’s story begins far from the spotlight of media. Born into a family with deep roots in construction and real estate, his early career trajectory seemed set. However, during his time at Oregon State University, where he pursued a degree in construction engineering, a deep-seated interest in media quietly brewed. Exposure to global perspectives and diverse thought leaders broadened his understanding of leadership and innovation, and he became fascinated by the media’s power to influence public opinion and inspire societal change.

    Fasih’s leadership qualities were honed through various experiences, including his role as a state-level soccer player and Treasurer of the Pakistan Student Association at OSU. These roles taught him the value of discipline, teamwork, and strategic thinking—attributes that would later prove invaluable in his professional journey. He believed that building a media platform, much like construction, required a strong foundation and an unyielding focus on quality and execution.

    Green Entertainment was born out of Fasih’s desire to fill a glaring gap in Pakistan’s media industry. He envisioned a platform that would not only entertain but also challenge societal norms, educate viewers, and promote positive change. Launched in July 2023, Green Entertainment quickly carved out a niche for itself with fresh, bold content that tackled important topics such as women’s empowerment, mental health, and the struggles of minorities in Pakistan.

    Despite speculation, Green Entertainment is not backed by the ISPR (Inter-Services Public Relations). The channel is solely founded and operated by Fasih ur Rehman, whose vision for the platform is entirely his own. This independence has allowed him to pursue an unfiltered approach to content creation, free from external influences. For Fasih, Green Entertainment is a platform for societal growth and empowerment, providing a space for emerging talent and sparking important conversations.

    Fasih envisions Green Entertainment as more than just a local media leader. He aims to position the platform on the global stage, showcasing Pakistan’s rich cultural tapestry to international audiences. By doing so, he hopes to elevate societal values and contribute to a broader dialogue about media’s role in shaping public consciousness.

    In Fasih ur Rehman, Pakistan has found a leader who bridges the gap between tradition and innovation. His journey from construction engineer to media mogul is a testament to the transformative power of vision, discipline, and courage. Green Entertainment is just the beginning—a platform for societal change, a tool for empowerment, and a powerful reminder of the media’s potential to inspire. Fasih’s story underscores a universal truth: leadership is not defined by the industry you’re in, but by the impact you strive to create.

  • Gold price climbs to new record high of Rs275,500 per tola following Rs2,500 increase

    Gold price climbs to new record high of Rs275,500 per tola following Rs2,500 increase

    Bullion prices in Pakistan continued to climb on the  third trading day of the week as the rate for 24-karat gold was recorded Rs2,500 per tola higher than the previous closing.

    According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold in local market was reported at Rs275,500 per tola.

    The latest price of gold is the highest ever rate recorded for the precious metial in Pakistan’s history.

    Furthermore, the price of ten grammes of gold was quoted by APGJSA at Rs236,197 after a rise of Rs2,144 in today’s session.

    This follows a surge in yellow metal’s value witnessed in the international market. According to APGJSA, gold price in the global market increased by $25 on Wednesday, clocking in at $2,653 per ounce. This rate also includes a premium of $20.

    Gold price in Pakistan has increased by more than Rs50,000 per tola this year due to fluctuations in the international market.

  • Bilawal Bhutto calls for establishment of federal constitutional court

    Bilawal Bhutto calls for establishment of federal constitutional court

    Chairman Pakistan People’s Party (PPP), Bilawal Bhutto Zardari, has stressed the need to form Federal Constitutional Court (FCC) to address disparities among Pakistan’s provinces.

    Addressing the Sindh High Court Bar Association, Bhutto stated that the 18th Amendment was threatened to be overturned while the 19th Amendment was passed under pressure.

    He pointed out that the details for the 19th Amendment have not been disclosed to-date.

    “The judicial reforms would be undertaken in line with the Charter of Democracy (COD), come what may,” he vowed.

    Bilawal Bhutto explained that PPP is considering to form a Constitutional Court in every province to address constitution-related cases, but he also clarified that no consensus has been reached on this proposal.

    “Agar Pakistan ka nizaam theek kerna hai tou Charter Of Democracy (COD) par amal kerna parega,” he added.