Category: 3. Business

KARACHI:

Bank Alfalah has decided to exit its operations in Afghanistan amid persistent political, economic and regulatory challenges in the country, a move that reflects both country-specific risks and a broader strategic shift underway across Pakistan’s banking sector.

According to a statement and market commentary, the decision comes against the backdrop of frozen Afghan foreign reserves, uncertainty surrounding international recognition of the Taliban-led government, and prolonged disruptions to cross-border trade and financial flows.

Banking sector analyst Asad Ali of Topline Securities said that, given the prevailing conditions in Afghanistan, the bank’s decision was pragmatic and largely expected.

“Amid ongoing challenges in Afghanistan, including frozen reserves and uncertainty over international recognition, the bank has decided to exit its operations in the country,” he told The Express Tribune. “The Afghanistan business was limited in scale, comprising only two branches, and the decision is not expected to have a material impact on the bank’s balance sheet.”

He added that the move should not be viewed in isolation. “Globally, banks are reassessing cross-border operations, particularly in high-risk jurisdictions. Afghanistan’s situation is one factor, but there are internal strategic reasons as well. If you look at other banks, you will see the same trend – many are closing or have already closed their foreign subsidiaries,” he said, pointing to heightened compliance costs, tighter global regulatory scrutiny and capital allocation priorities.

On January 7, 2026, Bank Alfalah moved closer to formally exiting the Afghan market, where it has operated since 2005. The State Bank of Pakistan and Da Afghanistan Bank have granted in-principle approval to Ghazanfar Bank to commence due diligence for the acquisition of Bank Alfalah’s Afghanistan operations. This follows an earlier, unsuccessful attempt to divest the unit in 2019 and signals a more definitive step toward disengagement from the Afghan financial system.

The bank’s exit coincides with a critical phase in Pakistan-Afghanistan economic relations. Secretary of the Pakistan-Afghanistan Joint Chamber of Commerce and Industry (PAJCCI), Muhammad Shoaib, said the bilateral economic relationship is at a “very sensitive juncture,” marked by a prolonged border crisis and a visible withdrawal of Pakistani financial institutions from Afghanistan.

Since October 10, 2025, major trade crossings, including Torkham, Chaman-Spin Boldak and Ghulam Khan, have remained largely closed following deadly military clashes and escalating security tensions. The three-month-long standstill has effectively paralysed bilateral trade and transit activity, severely disrupting supply chains.

Approximately 12,000 containers and thousands of trucks carrying transit goods are reportedly stranded at Karachi Port and along various border points. Traders are incurring heavy financial losses, with daily demurrage and detention charges estimated at $150 to $200 per container.

The impact has been particularly severe for Pakistan’s export-oriented sectors. The 2025-26 citrus (kinnow) season has been described by exporters as “completely damaged,” as Afghanistan typically absorbs around 60% of Pakistan’s citrus exports. With the Afghan transit route blocked, exports to Russia and Central Asian states have also stalled, leaving large quantities of produce unsold. Exports of potatoes and bananas to Central Asia have similarly come to a halt, while cement and pharmaceutical manufacturers have seen a key regional market effectively disappear.

Afghanistan, meanwhile, is facing its own economic fallout. Essential imports ordered from global markets remain stuck in Pakistan, contributing to supply shortages and rising food prices, including tomatoes, grapes and apples, in Afghan markets. Seasonal Afghan exports such as pomegranates, grapes and coal have also been restricted, resulting in significant revenue losses for local producers.

In response to the prolonged closures, Afghanistan has accelerated efforts to bypass Pakistan by developing alternative trade routes. Afghan traders are increasingly using Iran’s Chabahar port and overland corridors through Uzbekistan, Turkmenistan and Tajikistan. Iran and Afghanistan have also agreed to boost rail freight capacity on the Khaf-Herat line. Despite tensions with Pakistan, Afghanistan’s total trade volume reportedly reached around $14 billion in 2025, suggesting that alternative routes are partially offsetting the disruption.

Addressing the border situation, DG ISPR Lt Gen Ahmed Sharif recently stated that Pakistan’s trade and cross-border movement are restricted due to security concerns, emphasising that national security remains the state’s top priority.

KARACHI:

Pakistan’s latest government securities auctions attracted strong investor interest on Wednesday, with the State Bank of Pakistan (SBP) raising a total of Rs1.09 trillion through treasury bills and Pakistan Investment Bonds (PIB) Floaters, while cut-off yields declined across all T-bill tenors.

In the treasury bills auction, the government accepted Rs979 billion against a cumulative target of Rs850 billion, whereas total bids amounted to Rs2.56 trillion.

The government accepted Rs87 billion for one-month T-bills at a cut-off yield of 10.20%, marking a decline of 29 basis points from the previous auction. In the three-month tenor, Rs80 billion was accepted against bids of Rs521 billion, with the cut-off yield easing 34 basis points to 10.15%.

The six-month paper saw acceptance of Rs52 billion out of bids worth Rs404 billion as the cut-off yield fell 32 basis points to 10.16%. The bulk of the auction was concentrated in 12-month papers, where the government raised Rs761 billion against bids of Rs1.38 trillion at a cut-off yield of 10.16%, down 33 basis points from the previous auction.

Weighted average yields were largely in line with the cut-off yields, indicating consistent bidding across tenors.

Meanwhile, in the 10-year Pakistan Investment Bonds (Floating Rate – Semi-Annual) auction, the government accepted Rs108 billion against a target of Rs50 billion, while total bids stood at Rs758 billion. The cut-off price was set at 97.20, translating into a cut-off rate of 10.93%. The spread over the benchmark narrowed to 47 basis points, compared with 63 basis points in the previous auction.

Furthermore, the Pakistani rupee edged up slightly against the US dollar on Wednesday, closing at 280.06 in the inter-bank market compared to 280.07 a day earlier.

Meanwhile, gold prices in Pakistan fell, following international market losses as investors booked profits after a recent rally amid mixed global economic signals. Locally, gold per tola dropped by Rs1,200 to Rs466,762, while 10-gram rate fell by Rs1,028 to Rs400,173, according to the All-Pakistan Gems and Jewellers Sarafa Association.

A day earlier, gold had surged by Rs3,200 per tola, reflecting volatility driven by global price movements. Silver, however, remained stable at Rs8,361 per tola.

Internationally, gold slipped over 1% as profit-taking intensified, though weaker-than-expected US private payroll data bolstered expectations of potential Federal Reserve rate cuts. Spot gold touched $4,445 per ounce, up from an earlier low of $4,422. Analysts noted the market remained range bound, with $4,500 and $4,423 being high and low levels, respectively.

Adnan Agar of Interactive Commodities highlighted that Friday’s US non-farm payroll data could trigger significant price movements, while silver pulled back from recent highs near $82 to around $77.

The IWF’s Ngaire Alexander told the BBC tools like Grok now risked “bringing sexual AI imagery of children into the mainstream”.

He said the material would be classified as Category C under UK law – the lowest severity of criminal material.

But he said the user who uploaded it had then used a different AI tool, not made by xAI, to create a Category A image – the most serious category.

“We are extremely concerned about the ease and speed with which people can apparently generate photo-realistic child sexual abuse material (CSAM),” he said.

The charity, which aims to remove child sexual abuse material, external from the internet, operates a hotline where suspected CSAM can be reported, and employs analysts who assess the legality and severity of that material.

Its analysts found the material by on the dark web – the images were not found on the social media platform X.

X and xAI were previously contacted by Ofcom, following reports Grok can be used to make “sexualised images of children” and undress women.

The BBC has seen several examples on the social media platform X of people asking the chatbot to alter real images to make women appear in bikinis without their consent, as well as putting them in sexual situations.

The IWF said it had received reports of such images on X, however these had not so far been assessed to have met the legal definition of CSAM.

In a previous statement, X said: “We take action against illegal content on X, including CSAM, by removing it, permanently suspending accounts, and working with local governments and law enforcement as necessary.

“Anyone using or prompting Grok to make illegal content will suffer the same consequences as if they upload illegal content.”

Thursday 8 January 2026

Wollongong City Council is embarking on a 12-month trial of new camera technology that will allow compliance officers to electronically monitor timed parking zones and ensure fair public access to parking hotspots around the city.

The electronic monitoring system captures license plate data via in-vehicle cameras, allowing officers to patrol timed areas more widely and efficiently than the current manual practice of chalking tyres. The technology is currently utilised by more than 20 NSW councils, including City of Sydney, Sutherland Shire and Bayside Councils,

Commencing in February 2026, all timed parking zones in Wollongong, Keiraville, Gwynneville, and parts of Fairy Meadow and North Wollongong will be monitored as part of the trial, including high-trafficked areas along the Blue Mile, CBD carparks, and streets surrounding UOW.

“We all know parking is a hot-button issue and we’ve seen that again through the Christmas-New Year period,” Lord Mayor of Wollongong Councillor Tania Brown said.

“We have various plans and strategies aimed at bringing people into our CBD and town centres, be it for work or leisure. Timed parking zones play a vital role in ensuring efficient and fair access to parking in those high-demand locations like the city centre and around UOW.

“We’ve heard from many residents and business owners in our community that people overstaying in timed parking zones is a major source of frustration, particularly in the locations where we’ll be trialling the technology.

“There are around 7,700 parking spaces in our City Centre available for public use and convenient, time-restricted parking near retail areas supports high turnover, helping shoppers park, shop and free up space for the next person.

“While it is just a trial at this stage, if it can provide more consistent and efficient monitoring of parking zones, and allow our staff to do their jobs safely and effectively, it’s certainly something we should be looking at.

“The technology is already used by multiple other local councils, and we need to ensure all our systems utilise the best technologies available and are best practice.”

Where possible, fines or notifications issued via the electronic management system will continue to be issued in paper form and placed on the offending vehicles. If it’s not possible to place the fine on the vehicle at the time, the fine will be posted.

While the trial will capture valuable data regarding driver behaviour and use of timed parking zones, it does not include or propose changes to currently signposted time limits.

The monitoring uses face-blurring technology and will not capture any personal identifiers other than vehicle license plate numbers.

For more information on the trial and its locations you can visit Council’s website here.

Launched VIZZ™ (aceclidine ophthalmic solution) 1.44% in October 2025 for the treatment of presbyopia, with broad product availability in mid-November 2025

Achieved approximately $1.6 million in net product revenue with over 20,000 prescriptions filled in Q4 2025

Over 6,500 unique ECPs prescribed VIZZ; more than 55% have prescribed multiple times in Q4 2025

SAN DIEGO, Jan. 07, 2026 (GLOBE NEWSWIRE) — LENZ Therapeutics, Inc. (Nasdaq: LENZ or “LENZ” or the “Company”), a pharmaceutical company focused on the commercialization of VIZZ™ (aceclidine ophthalmic solution) 1.44%, the first and only aceclidine-based eye drop for the treatment of presbyopia, today reported certain preliminary unaudited financial results for the fourth quarter ended December 31, 2025 and recent corporate updates.

“We are proud of the strong execution delivered in our first quarter of launch, as the team established a solid foundation of awareness, confidence, and willingness to prescribe VIZZ across the eye care professional community,” said Eef Schimmelpennink, President and Chief Executive Officer of LENZ Therapeutics. “More than 6,500 eye care professionals have already written a prescription for VIZZ, the majority of whom prescribed multiple times, signaling early confidence in VIZZ as a convenient and effective alternative to reading glasses. At the same time, over 20,000 prescriptions were filled during our first quarter of launch, exceeding our expectations and reinforcing the early momentum behind VIZZ. Building on this progress, and together with our campaign spokesperson Sarah Jessica Parker, we look forward to launching the VIZZ DTC campaign this quarter.”

Fourth Quarter 2025 Commercial Highlights

• First commercial product sale of VIZZ in October 2025, the first and only aceclidine-based eye drop for the treatment of presbyopia
• Full multi-channel access established through epharmacy and substantially all retail pharmacies by mid-November 2025
• VIZZ net product revenue of approximately $1.6 million in Q4 2025
• Over 20,000 prescriptions filled through Q4 2025
• Rapid uptake by prescribing ECPs with over 6,500 unique prescribing ECPs; more than 55% prescribed multiple times in Q4 2025

Additional Recent Corporate Updates

• In January 2026, the Company announced an exclusive commercialization partnership for VIZZ with Lunatus in the Middle East. Under the terms of the agreement, LENZ will receive upfront, regulatory and commercial milestone payments, in addition to a significant share of revenue generated in the region through a pre-determined minimum product supply price. This agreement represents the fourth commercialization partnership for VIZZ outside the United States.

About LENZ Therapeutics

LENZ Therapeutics is a pharmaceutical company focused on the commercialization of VIZZ^TM (aceclidine ophthalmic solution) 1.44%, the first and only FDA-approved aceclidine-based eye drop for the treatment of presbyopia, a condition impacting an estimated 1.8 billion people globally and 128 million people in the United States. LENZ is commercializing VIZZ in the United States and continues to establish licensing partnerships internationally to provide access to VIZZ globally. LENZ is headquartered in San Diego, California. For more information, visit www.VIZZ.com and www.LENZ-tx.com.

About Presbyopia

Presbyopia is the inevitable loss of near vision associated with aging, impacting the daily lives of nearly all people over the age of 45. As people age, the crystalline lens in their eyes gradually hardens and becomes less able to change shape. This loss of elasticity of the lens reduces the ability of the lens to focus incoming light from near objects onto the retina. Adults over 50 years of age lose, on average, 1.5 lines of near vision every six years. Although the progression of presbyopia is gradual, presbyopes often experience an abrupt change in their daily life as the symptoms become more pronounced starting in their mid-40s, when reading glasses or other corrective aids are suddenly necessary to read text or conduct close-up work. Presbyopia is typically self-diagnosed and self-managed with over-the-counter reading glasses, or managed, after evaluation by an ECP, with prescription reading or bifocal glasses or multifocal contact lenses.

About VIZZ (aceclidine ophthalmic solution) 1.44%

VIZZ (aceclidine ophthalmic solution) 1.44% is a once-daily eye drop developed to restore clear near vision for up to 10 hours. Aceclidine is the sole active ingredient in VIZZ and provides rapid and durable near vision improvement. VIZZ is preservative-free and provided in single-dose vials. VIZZ is a predominantly pupil selective miotic that interacts with the iris with minimal ciliary muscle stimulation. VIZZ causes contraction of the iris sphincter muscle, resulting in a pinhole effect that extends depth of focus to improve vision. For more information, please visit www.VIZZ.com.

VIZZ Indication and Important Safety Information

INDICATION

VIZZ (aceclidine ophthalmic solution) 1.44% is a prescription eye drop used to treat age-related blurry near vision (presbyopia) in adults.

IMPORTANT SAFETY INFORMATION

• Do not use VIZZ if allergic to any of the ingredients.
• To help avoid potential eye injury or contamination of the product, do not allow the vial tip to touch the eye or any surfaces. Discard the opened vial immediately after use.
• Contact lenses should be removed before using VIZZ. After dosing, contact lenses can be reinserted after 10 minutes.
• If using more than one topical eye medication, the medicines should be administered at least 5 minutes apart.
• Temporary dim or dark vision may be experienced after using VIZZ. Do not drive or operate machinery if vision is not clear.
• Seek immediate medical care if sudden onset of flashing lights, floaters, or vision loss is experienced.

ADVERSE REACTIONS

The most common reported adverse reactions of participants were instillation site irritation (20%), dim vision (16%), and headache (13%). Adverse reactions reported in >5% of participants were conjunctival hyperemia (8%) and ocular hyperemia (7%). The majority of adverse reactions were mild, transient, and self-resolving.

For additional information, please see the full Prescribing Information available at www.VIZZ.com/full-prescribing-information.pdf.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of federal securities laws. You can identify forward-looking statements by words such as “may,” “will,” “could,” “can,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “poised,” “continue,” “ongoing” or the negative of these terms or other comparable terminology, but not all forward-looking statements will contain these words. ” Forward-looking statements in this press release include statements regarding the timing and availability of VIZZ, including the VIZZ DTC campaign; potential market size for VIZZ; its ability to meet patient needs and become standard of care; LENZ commercialization plans, including international partnering plans, and the quotations of LENZ management. These statements are based on numerous assumptions concerning VIZZ, target markets and involve substantial risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievement to be materially different from the information expressed or implied by these forward-looking statements, including those risk factors described in the section titled “Risk Factors” in our Quarterly Report on Form 10-Q filed for the quarter ended September 30, 2025 and our subsequent filings with the SEC. The unaudited results in this press release, including Q4 2025 net product revenue, are preliminary and subject to the completion of accounting and annual audit procedures and are therefore subject to adjustment. We cannot assure you that the forward-looking statements in this press release or the assumptions upon which they are based will prove to be accurate. The forward-looking statements in this press release are as of the date of this press release. Except as otherwise required by applicable law, LENZ disclaims any duty to update any forward-looking statements. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release. 

Contact:
Dan Chevallard
LENZ Therapeutics
IR@LENZ-Tx.com 

Source: LENZ Therapeutics, Inc.

Released January 7, 2026

The S&P 500 has ended lower, pulled down by declines in JPMorgan, Blackstone and other financials, while Nvidia and Alphabet lifted the Nasdaq as investors shifted towards AI-related stocks.

The drop in the S&P 500 followed an intraday record high earlier in the session on Wednesday.

Shares of housing acquisition companies tumbled after President Donald Trump said he was moving to ⁠ban Wall Street investors from buying single-family homes in a bid to reduce home prices. Real estate platform Zillow moved higher.

Fed rate cut on the cards

The Dow Jones Industrial Average fell 472.60 points, or 0.96 per cent, to 48,999.39. Data on Wednesday showed US job openings fell more than expected in November after rising marginally in October, while a separate ADP report showed that private payrolls increased less than expected in December.

While the latest labour market datasets mark a return to the standard release of economic data disrupted by the US government shutdown, they did little to change expectations of interest rate cuts from the Federal Reserve ahead of Friday’s key government payrolls report.

Investors were also monitoring geopolitical developments after the US said it seized a Russian-flagged, Venezuela-linked tanker as part of Trump’s aggressive push to dictate oil flows in the Americas and force Caracas’ socialist government to become its ally.

Investors return to AI stocks, defence sector under scrutiny

Major defence groups Northrop Grumman and Lockheed Martin lost ground after Trump said he would not permit dividends or stock buybacks for defence companies until they fixed problems with the production of military equipment.

Nvidia, Microsoft and Alphabet rose as investors shifted back into AI stocks following recent worries they were overvalued. Underscoring investor appetite for heavyweight AI players, Anthropic is planning a multibillion-dollar fundraising that would value the Claude chatbot maker at $US350 billion.

That would make the privately held company more valuable than the vast majority of corporations, including Advanced Micro Devices, Chevron and Wells Fargo.

MAUMEE, Ohio, Jan. 7, 2026 /PRNewswire/ — Dana Incorporated (NYSE: DAN) will host a webcast and conference call on Wednesday, January 21, 2026, at 10 a.m. EST. The discussion will cover the company’s market outlook, new business growth, capital return strategy, and preliminary 2025 results.

Dana’s Chairman and Chief Executive Officer R. Bruce McDonald and Senior Vice President and Chief Financial Officer Timothy Kraus, along with other members of the management team, will provide insights on these topics and address questions from covering analysts.

The conference call can be accessed by telephone from both domestic and international locations using the information provided below:

Conference ID: 9943139
Participant Toll-Free Dial-In Number: 1 (888) 440-5873
Participant Toll Dial-In Number: 1 (646) 960-0319

Audio streaming and slides will be available online via a link provided on the Dana investor website: www.dana.com/investors. 

A webcast replay can be accessed via Dana’s investor website following the call.

About Dana Incorporated
Dana is a leader in the design and manufacture of highly efficient propulsion and energy-management solutions that power vehicles and machines in all mobility markets across the globe. The company is shaping sustainable progress through its conventional and clean-energy solutions that support nearly every vehicle manufacturer with drive and motion systems; electrodynamic technologies, including software and controls; and thermal, sealing, and digital solutions.

Based in Maumee, Ohio, USA, the company reported sales of approximately $7.7 billion in 2024 with 28,000 people in 24 countries across six continents. With a history dating to 1904, Dana was named among the “World’s Most Ethical Companies” for 2025 by Ethisphere and as one of “America’s Most Responsible Companies 2025” by Newsweek. The company is driven by a high-performance culture that focuses on valuing others, inspiring innovation, growing responsibly, and winning together, earning it global recognition as a top employer. Learn more at dana.com.

SOURCE Dana Incorporated