Author: admin

  • Entry-Level Alto gets Pricier; Luxury Land Cruiser gets Big Discount in Pakistan

    Entry-Level Alto gets Pricier; Luxury Land Cruiser gets Big Discount in Pakistan

    KARACHI – Auto industry of Pakistan is still reeling as sales went to all time low in last couple of years. In surprising twist of fiscal priorities in Budget 2025, the government slapped new taxes which pushed price of affordable cars like Suzuki Alto, while slashing duties on imported SUVs like Toyota Land Cruiser.

    The price disparity, which favors wealthy over the average consumer, raised eyebrows across the automotive and economic circles. Long seen as a go-to vehicle for middle-class families and first-time car buyers, the Suzuki Alto has now been pushed further out of reach.

    Alto Prices Pakistan 2025

    After Pak Suzuki’s official price revision notice, the Alto lineup saw increases of up to Rs1lac 80 thousand, with on road price of top of line model now stands at Rs3.32 million.

    Model New Price 
    Alto VXR 2,994,861
    Alto VXR AGS 3,166,480
    Alto VXL AGS 3,326,446

    A targeted tax increase on vehicles with engines of 850cc or less. The General Sales Tax (GST) on such cars has been raised from 12.5% to 18%, coupled with a 1% NEV (New Economic Value) levy. That’s a double hit to Pakistan’s lowest-priced car segment.

    Entry Level Alto Gets Pricier Luxury Land Cruiser Gets Big Discount In Pakistan

    Land Cruiser Prices in 2025

    As all Suzuki vehicles got expensive, luxury SUVs become cheaper due to revised import duty structures as authorities slashed Customs Duty, Regulatory Duty, and cut Additional Customs Duty to 6pc.

    Model Year Price Cut in Lac
    LC300 ZX 2024 76 – 80 lakh
    Lexus LX570 2021 75 – 78 lakh
    LC300 ZX 2023 70 – 71 lakh
    Prado LC150 2021 29 – 30 lakh

    Buyers of Land Cruiser are now saving millions in stark reversal from policies that typically aim to tax luxury more heavily than necessity.

    These plethora of new taxes could deepen economic disparities in already struggling automotive market. While majority of working-class citizens see their affordable car options becoming more expensive, high-income buyers are being incentivized with reduced costs on multimillion-rupee vehicles.

    As government claims reduced duties on imports aim to formalize trade and discourage smuggling and misuse of amnesty schemes.

    Toyota Vitz Latest Rates in Pakistan after Revised Import Duties

     

     

     

    Continue Reading

  • MIT researchers develop membrane that can fractionate crude oil without heating – News

    MIT researchers develop membrane that can fractionate crude oil without heating – News

    MIT

    RESEARCHERS at Massachusetts Institute of Technology (MIT) have developed a membrane they believe could replace energy-intensive distillation processes to fractionate crude oil in refineries.

    The researchers used interfacial polymerisation – widely employed since the 1970s to make thin films for reverse osmosis desalination – to produce their polyimine membranes, suggesting the method is scalable for refining applications.

    Oil refining is the world’s third-largest source of greenhouse gas emissions, accounting for nearly 5% of global emissions. Instead of the conventional energy-intensive distillation columns that separate crude oil according to the different boiling points of gasoline, diesel, kerosene and other components, membranes can filter hydrocarbons based on molecular size. Membrane-based separation could significantly lower the energy requirements of fractionation, which uses around 1% of global energy demand for the heat-driven distillation. 

    The research, part-funded by US oil giant ExxonMobil, was published in Science in May. They tested the membranes by filtering a mixture of toluene and triisopropylbenzene (TIPB) hydrocarbons and achieved a concentration of toluene 20 times greater than in the original mixture.

    Andrew Livingston, a chemical engineering professor at Queen Mary University of London, who was not involved in the study, said the research was “an important step toward reducing industrial energy consumption”.

    Zachary Smith, an associate professor of chemical engineering at MIT and a senior author on the study, said they had developed “a whole new way of envisioning a separation process”. He believes a series of their membranes could one day be used to remove the heat-intensive fractionation process in a refinery. “You can imagine that with a membrane like this, you could have an initial stage that replaces a crude oil fractionation column. You could partition heavy and light molecules and then you could use different membranes in a cascade to purify complex mixtures to isolate the chemicals that you need.”

    No swell

    Membrane-based separation of crude oil is estimated to be capable of reducing the energy requirements of fractionation by 90% compared to heat-driven processes, and the MIT team are not the first to have investigated the technology. However, most previous efforts produced membranes that tended to absorb some hydrocarbons as they passed through, leading to swelling that impairs their separation power.

    The MIT team used interfacial polymerisation to create an MPD-TMC membrane, similar to those used in desalination. They then replaced the amide bonds in the MPD-TMC structure with imine bonds, which are more rigid and hydrophobic – making them better suited for filtering hydrocarbon molecules. When tested on a mixture of naphtha, kerosene, and diesel, the membranes did not cause swelling.

    The team believes their process can become a commercially viable way of fractionating oil in refineries. Taehoon Lee, who led the study as a postdoctoral researcher at MIT and is now an assistant professor at Sungkyunkwan University in South Korea, said: “The main advantage of interfacial polymerisation is it’s already a well-established method to prepare membranes for water purification,” adding that the “existing scale of manufacturing lines” was already set up to produce MPD-TMC-based membranes.  

    Continue Reading

  • Star Wars actor Kenneth Colley dead at 87

    Star Wars actor Kenneth Colley dead at 87

    A British actor best known for his role in the Star Wars franchise has died. He was 87.

    Kenneth Colley, who starred as imperial officer Admiral Piett in “The Empire Strikes Back” and “Return of the Jedi” died “peacefully at his home in Ashford, Kent, on June 30 after contracting COVID and developing pneumonia,” according to his agent, Julian Owen, in a statement to the BBC.

    Owens 60-year career spanned stage, film and television, including roles as Jesus in Monty Python’s “Life of Brian” and the Duke of Vienna in Shakespeare’s “Measure for Measure” for the BBC.

    Colley was admitted to the hospital with an injured arm after a fall, but he quickly contracted COVID, which developed into pneumonia. He died with friends at his bedside.

    Colley also starred in Clint Eastwood’s “Firefox” and the World War II series “War and Remembrance.”

    Star Wars fans will remember his initial performance in “The Empire Strikes Back.” Darth Vader uses the Force to choke the general next to him while saying, “You have failed me for the last time.”

    Looking frightened but resolute, Piett accepts his new position as admiral.

    Colley reprised his role as Piett for the 2012 animated Lego production, “Lego Star Wars: The Empire Strikes Out.”

    Colley enjoyed traveling to Star Wars conventions and fan events all over the world and held several hobbies.

    “Ken also loved his garden, art collecting and had a passion for fast cars,” Owen said.

    If you purchase a product or register for an account through a link on our site, we may receive compensation. By using this site, you consent to our User Agreement and agree that your clicks, interactions, and personal information may be collected, recorded, and/or stored by us and social media and other third-party partners in accordance with our Privacy Policy.

    Continue Reading

  • Ericsson Enterprise Wireless launches new Solutions Partner Program – Ericsson

    1. Ericsson Enterprise Wireless launches new Solutions Partner Program  Ericsson
    2. Rebranded Cradlepoint to Nix Tiers in Partner Program  Channel Futures
    3. Ericsson Enterprise Wireless launches new Solutions Partner Programme  pcr-online.biz
    4. Summer revamp for Ericsson enterprise wireless partner program  SDxCentral

    Continue Reading

  • Pak hockey teams given clearance to participate in multi-nation events in India; visa process underway

    Pak hockey teams given clearance to participate in multi-nation events in India; visa process underway

    NEW DELHI: The Pakistan Hockey teams for the forthcoming Asia Cup tournament in Bihar’s Rajgir and FIH men’s Junior World Cup later in Tamil Nadu’s Madurai are going to be allowed to participate, sources in the government confirmed, while stating that any attempt to block participation would lead to contravention of the Olympic Charter.

    The sources said that the clearance for allowing the Pakistani teams to come to India was given by the Ministry of External Affairs (MEA) and Ministry of Home Affairs (MHA) and the visa process for the players has been initiated.

    A high-level source in the government said, the decision has been communicated to the host federation – Hockey India (HI) and in turn it has informed the same to its counterpart in Pakistan.

    “The decision was part of the Government of India’s (GoI) efforts to keep politics and sports separate, while following the statutes of the Olympic Charter, which calls for inclusion and harmony among the participating nations despite their political difference,” said a source.

    Experts say that had India blocked the Pakistan teams’ participation for the two hockey events, the Indian Olympic Association (IOA) would have faced sanction from the International Olympic Committee (IOC).

    Continue Reading

  • Manga doomsday prediction spooks tourists to Japan – World

    Manga doomsday prediction spooks tourists to Japan – World

    Viral rumours of impending disaster stemming from a comic book prediction have taken the sheen off Japan’s tourism boom, with some airlines cancelling flights from Hong Kong where passenger numbers have plunged.

    Japan has seen record numbers of visitors this year, with April setting an all-time monthly high of 3.9 million travellers.

    That dipped in May, however, with arrivals from Hong Kong — the superstitious Chinese-controlled city where the rumours have circulated widely — down 11 per cent year-on-year, according to the latest data.

    Steve Huen of Hong Kong-based travel agency EGL Tours blamed a flurry of social media predictions tied to a manga that depicts a dream of a massive earthquake and tsunami hitting Japan and neighbouring countries in July 2025.

    “The rumours have had a significant impact,” said Huen, adding that his firm had seen its Japan-related business halve. Discounts and the introduction of earthquake insurance had “prevented Japan-bound travel from dropping to zero,” he added.

    Branden Choi, a 28-year-old Hong Kong resident, said he was a frequent traveller to Japan but was hesitant to visit the country during July and August due to the manga prediction.

    “If possible, I might delay my trip and go after September”, he said.

    Ryo Tatsuki, the artist behind the manga titled The Future I Saw, first published in 1999 and then re-released in 2021, has tried to dampen the speculation, saying in a statement issued by her publisher that she was “not a prophet”.

    The first edition of the manga warned of a major natural disaster in March 2011. That was the month and year when a massive earthquake, tsunami and nuclear disaster struck Japan’s northeastern coast, killing thousands.

    Some have interpreted the latest edition as predicting a catastrophic event specifically on July 5, 2025, although Tatsuki has denied this.

    Situated within the Pacific Ocean’s ‘Ring of Fire’, Japan is one of the most earthquake-prone countries in the world. In recent days, there have been more than 900 earthquakes, most of them small tremors, on islands off the southern tip of Kyushu.

    But Robert Geller, a professor at the University of Tokyo who has studied seismology since 1971, said even scientifically-based earthquake prediction was “impossible”.

    “None of the predictions I’ve experienced in my scientific career have come close at all,” he said.

    Nevertheless, low-cost carrier Greater Bay Airlines became the latest Hong Kong airline on Wednesday to cancel flights to Japan due to low demand, saying it would indefinitely suspend its service to Tokushima in western Japan from September.

    Serena Peng, 30, a visitor to Tokyo from Seattle, had initially tried to talk her husband out of visiting Japan after seeing the social media speculation.

    “I’m not super worried right now, but I was before,” she said, speaking outside Tokyo’s bustling Senso-ji temple.

    5.5-magnitude quake hits Japan island

    Meanwhile, an earthquake with a preliminary magnitude of 5.5 hit a remote island in southwestern Japan today, the Japan Meteorological Agency said.

    The earthquake’s epicentre was off the coast of the Tokara island chain in Kagoshima prefecture, nearly 1,200 kilometres from Tokyo, the agency said, adding that a tsunami warning had not been issued.

    The quake hit at a depth of 20km, giving it a seismic intensity of ‘6 lower’ on Japan’s 1-7 scale on Akuseki Island, the agency said. Akuseki has a population of 89. The intensity is classified as a level that makes it “difficult to remain standing”, according to the agency.

    More than 1,000 tremors with a seismic intensity of 1 or above on the Japanese scale have been detected around the island chain between June 21 and July 3, the agency said.

    Continue Reading

  • Diageo completes sale of shareholding in Guinness Ghana Breweries plc to Castel Group

    Diageo completes sale of shareholding in Guinness Ghana Breweries plc to Castel Group

    Today, Diageo announces the completion of the sale of its 80.4% shareholding in Guinness Ghana Breweries plc to Castel Group. The sale was initially announced on 28th January 2025.

    Diageo has retained ownership of the Guinness brand and other Diageo brands currently produced by Guinness Ghana. Those brands will continue to be brewed, produced and distributed by Guinness Ghana under the terms of new long-term licence and royalty agreements. Guinness Ghana will also continue to distribute Diageo’s international premium spirits brands in Ghana.

    – ENDS –

    For further information, please contact:

    Investor relations:
    Sonya Ghobrial
    Andrew Ryan

     
    +44 (0) 7392 784 784
    +44 (0) 7803 854 842
    [email protected]

    Media relations:
    Clare Cavana
    Isabel Batchelor

     
    +44 (0) 7751 742 072
    +44 (0) 7731 988 857
    [email protected]

    Continue Reading

  • China's industry ministry is set to tackle price war in solar sector – Reuters

    1. China’s industry ministry is set to tackle price war in solar sector  Reuters
    2. Cloudy with a chance of bankruptcy: US tariffs hurt China’s solar firms  South China Morning Post
    3. CLSA View on Solar Industry Intact; XINYI SOLAR, GCL TECH Key Beneficiaries  AASTOCKS.com
    4. China Vows to Increase Oversight of Wayward Solar Sector  Bloomberg.com
    5. China’s industry ministry vows to curb solar price dumping  Investing.com India

    Continue Reading

  • Tiffany Theatre School in Clacton to shut down over funding issue

    Tiffany Theatre School in Clacton to shut down over funding issue

    Students at a performing arts school were preparing their final act after being told it would be shutting down after 25 years.

    Tiffany Theatre School in Clacton-on-Sea, Essex, was forced into closure after bosses could not secure the funding it needed.

    The school’s three-year higher education course was oversubscribed for September, but its 15 students have since been told the curtains were closing on Friday.

    “People are suddenly now having to grieve friendships because they’re going to have to find other places to train,” said principal Phil Gostelow.

    The school’s future was thrown into uncertainty after the government said it would no longer finance its students’ loans.

    Staff and families rallied to raise £30,000 in four weeks to keep the doors open, but Mr Gostelow said the “amazing” effort was in vain as £200,000 was needed.

    “It’s not a big enough figure for us to responsibly open and give any form of security to our students,” he added.

    “We were left with no option other than to draw a line under it and close the college, which is heartbreaking for all concerned.”

    Past students have gone on to perform in London’s West End, choreograph for pop star Kylie Minogue, as well as featuring in films, TV and music videos.

    The school was meant to be welcoming a full intake of 20 new students in September.

    However, they would not be able to pay for their education without student finance.

    The sudden closure would follow two final performances at the Lakeside Theatre in Colchester on Friday.

    “These were meant to be the end of year shows, our graduating cohort’s farewell,” Mr Gostelow said.

    “Now it’s turned into the last thing we’ll ever produce as a college.

    “We’re trying to keep our brains on making the best show we can, but there’s a big cloud hanging over everything.”

    He stressed to families it would be a goodbye “not with mourning, but with pride”.

    The Department for Education has been approached for comment.

    Continue Reading

  • A Handbook to Evaluating Global AI Investments

    A Handbook to Evaluating Global AI Investments

    Artificial intelligence has emerged as one of the most powerful and pervasive investment themes of the modern era. But investing in AI isn’t as simple as chasing the latest breakthrough or jumping into a hyped fund. Successful thematic investing requires thoughtful evaluation—of the theme itself, the investment vehicle, and the fund’s execution strategy.

    To help financial advisors better assess which funds are the best fit for clients, our 2025 Investing in Artificial Intelligence Funds report shares a practical framework for evaluation—breaking down the investment into three key components.

    1. Evaluating the Theme

    The first step in assessing a thematic fund is evaluating whether the underlying theme is well-defined, investable, and durable.

    Clarity and Investability

    AI is clearly investable, with most funds in this space concentrating on large-cap, highly liquid companies. Our holdings frequency analysis shows a strong consensus on core holdings across AI and big data funds. This is important, as it indicates that investors generally agree on what constitutes AI exposure—typically including chip manufacturers and software firms.

    Performance and Responsiveness

    The Morningstar Global Artificial Intelligence + Big Data Consensus Index—a proxy for the theme—has behaved in line with expectations. It surged after the launch of ChatGPT 3.5 in late 2022 and responded to geopolitical shocks like US export restrictions on AI chips in early 2025. These reactions confirm that the theme reflects real and distinct risk/return drivers.

    Durability and Growth Potential

    AI has been an investable theme via funds since at least 2015, making it one of the more mature technology narratives. Its use cases—ranging from customer service automation to drug discovery—are expanding rapidly. But the theme isn’t without obstacles.

    Inhibitors to Growth

    Two major headwinds could slow AI’s momentum:

    • Energy Consumption: The computing demands of AI are enormous and growing, straining existing power infrastructure and raising sustainability concerns.
    • Regulation: Geopolitical tensions and regulatory actions—such as export restrictions on chips or emerging AI usage laws—could limit global scalability and increase compliance costs.

    2. Assessing the Investment Vehicle

    Once the theme is validated, the next step is selecting the right vehicle. While buying individual stocks can offer precision, thematic funds offer important benefits.

    Why Choose a Fund?

    • Stock-specific risk diversification: They reduce stock-specific risk. For instance, Tesla’s TSLA decline in early 2025 due to Elon Musk’s political activity highlights the downside of concentrated bets.
    • Exposure to the value chain: Funds can target high-potential segments within the theme, from AI infrastructure to applications.
    • Winner-take-all dynamics: In technology themes driven by scale—such as AI and big data—we often see winner-take-all outcomes. By investing in a basket of thematic stocks, investors can ensure exposure to any potential “shooting stars.”

    Portfolio Impacts

    Two major US funds focused on the AI and big data theme illustrate the diversity in approaches.

    Global X Artificial Intelligence & Technology ETF AIQ

    This is the oldest and largest US-domiciled AI ETF, following a rules-based index. It allocates across software (for example, natural language processing, AI-as-a-service) and hardware (for example, chips, quantum computing).

    • Selection: Uses a proprietary scoring system to assess thematic relevance.
    • Weighting: Applies caps (3% maximum per stock) to avoid overconcentration.
    • Stability: Rebalances annually, favoring structured implementation over rapid responsiveness.
    • Limitations: The indexed approach means the strategy is slow to incorporate changes in the market, important IPOs, and so on. Despite being indexed, the selection methodology is not fully transparent, and fees are higher than many more vanilla indexed ETFs.

    Roundhill Generative AI & Technology ETF CHAT

    This newer, actively managed fund targets companies focused on generative AI.

    • Focus: High conviction, fewer holdings (often less than 40), and concentrated sector exposure.
    • Flexibility: Can quickly pivot to new opportunities—like its early investment in CoreWeave, a cloud infrastructure firm that went public in 2025. However, poor timing decisions on investments such as SoundhoundAI SOUN and SenseTime Group have weighed heavily on returns, highlighting how flexibility can work against the fund, too.
    • Challenges: Higher portfolio turnover, greater reliance on manager skill, and higher monitoring demands for investors.
    • Differentiation: Excludes well-known names like Tesla and Netflix NFLX because of limited generative AI exposure, and maintains a 25% allocation to the Magnificent Seven (compared with 20% in Global X).

    Source: Morningstar Direct. Data as of May 31, 2025. * Morningstar Quantitative Rating.

    Each fund has its own strengths. Global X offers broader, more stable exposure, while Roundhill aims for a higher conviction full active strategy—which places a higher emphasis on manager skill and therefore warrants even more rigorous due diligence before investing.

    3. Implementing Thematic Funds Wisely

    Even a well-designed fund can disappoint if misused. Proper implementation is critical.

    Portfolio Fit

    AI and big data funds are typically highly volatile and sit in the high-growth quadrant of the Morningstar Style Box. They’re best deployed as tactical or satellite allocations—not as core holdings.

    • Overlap Risks: Many AI funds have exposure to the Magnificent Seven, already widely held in most portfolios. This concentration risk should be monitored.
    • Growth Bias: AI funds often exhibit high beta, amplifying broader market swings.

    Timing and Behavior

    Investors frequently mistime thematic entries, buying during hype and selling during drawdowns. Given their volatility, AI funds are best approached with a long-term, buy-and-hold mindset.

    Valuation Awareness

    Chasing themes without regard for valuation can lead to underperformance. Using price/fair value metrics may help pick entry points that will give longer-term investors the best chance of success. For instance, investors who bought into AI funds in September 2022—when valuations were lowest—benefited from the subsequent ChatGPT-fueled rally. However, valuation alone isn’t a silver bullet, as sentiment and narrative often drive short-term flows.

    Line graph comparing AI and Big Data theme price/fair value from 2019 to 2025.
    Source: Morningstar Direct. Data as of May 31, 2025.

    Identify the Right AI Funds for Clients

    A winning thematic investment entails selecting the right investment, exposed to the right theme, and deploying it sensibly. By knowing how to efficiently assess US AI funds and beyond, financial advisors can find investment opportunities and deliver value to clients.

    Continue Reading