Sunday, November 1, 2026

Technology

Global tech

Alphabet Loses $500 Billion as AI Spending Raises Doubts About Returns

Alphabet shares fell 12.6% as heavy AI investment pushed cash flow below zero. The technology sell-off spread across global markets while investors sought government bonds and safer currencies.

Saudi Arabia Launches Live Crowd Updates to Help Umrah Pilgrims at Holy Mosques

No More Traffic Chaos? Elon Musk Unveils Tesla’s Flying Car

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Global

Middle East Foreign Bases Serve Israel, Not Muslim Countries, Says Khawaja Asif

Defence Minister Khawaja Muhammad Asif told a university convocation that foreign military bases in the Middle East serve foreign powers and Israel rather than protect Muslim countries.

Kim Jong Un links peace to power as North Korea showcases drones and new rocket launcher

Saudi coalition says it downed Houthi drone targeting Mecca after Riyadh missile attack

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Business

HBL Microfinance Bank starts Islamic banking with first branch in Timergara

Following a State Bank licence, HBL Microfinance Bank has opened its first Islamic banking branch in Timergara, with plans to expand the service.

Apple reaches $5 trillion valuation, moving ahead of Nvidia again

Apple has overtaken Nvidia in market capitalisation for the first time since its brief lead in late July. Its shares have gained 27% so far in 2026.

Adrian Hamilton takes charge at PIA as Amir Hayat leaves after privatisation

Adrian Hamilton has formally assumed leadership of PIA, succeeding Amir Hayat, whose tenure began in 2022 and ended following the airline’s privatisation.

Gold drops Rs 10,800 per tola in Pakistan to Rs 409,736

The All Pakistan Gems and Jewellers Association reported lower domestic gold prices, while the international rate fell by $108 to $3,872 per ounce.

Petrol Levy Cut Shifts Costs to Refineries, With Monthly Burden Estimated at Rs15 Billion

Pakistan has lowered the direct petrol levy to offset higher import costs for consumers. Topline Research estimates refineries could bear Rs10–15 billion a month under the arrangement.

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