Category: 3. Business

KARACHI:

Pakistan’s benchmark KSE-100 Index soared to a fresh all-time high of 169,964.52 points, gaining 1.66% week-on-week to close at 169,865, fuelled by the International Monetary Fund (IMF)’s approval of a $1.2 billion disbursement under the Extended Fund Facility (EFF) and the Resilience and Sustainability Facility (RSF).

On a day-to-day basis, the Pakistan Stock Exchange (PSX) began the week on a strong note, with the index gaining 1,218 points (+0.73%) to close at 168,303. The momentum continued on Tuesday as the KSE-100 closed at a new peak of 169,456, gaining 1,153 points or 0.69%.

On Wednesday, the index briefly breached the key psychological barrier of 170,000 during intraday trading, but profit-taking at and above that level pulled the market back, resulting in a flattish close at 169,452 points, down just five points. PSX attempted once again on Thursday to close above 170,000 but fell short, with the KSE-100 ending at 168,575, down 877 points or 0.52%.

On Friday, the third consecutive attempt, the market again approached the 170,000 level but narrowly missed it, with the index settling at 169,865, up 1,290 points or 0.77%.

Arif Habib Limited (AHL), in its weekly report, noted that the index increased from 167,086 last week to 169,865 this week, posting a gain of 2,779 points (1.66%). Sentiment was supported by the IMF’s $1.2 billion disbursement under the EFF second review and the first tranche of the RSF, along with the settlement of Pakistan Energy Sukuk (first phase), a step toward addressing circular debt in the power sector.

Remittances by overseas Pakistanis increased by 9% year-on-year to $3.19 billion in November 2025 compared to $2.92 billion in November 2024. On a month-on-month basis, remittances decreased by 7%. In 5MFY26, they rose 9% year-on-year to $16.14 billion.

This week’s T-bill auction saw the government raise Rs981.7 billion against a Rs1 trillion target, with strong participation of Rs1,925.1 billion. Yields eased slightly across all tenors by 1–3 basis points. Oil production inched up 0.1% week-on-week to 66,014 bpd, while gas output rose sharply by 6.1% to 2,917 mmcfd, supported by higher flows from Mari, Uch and Qadirpur.

Net metering’s share in total generation increased by 112 basis points year-on-year in October 2025, reflecting rising solar adoption and lower grid reliance. Overall power generation declined 3.7% year-on-year in October 2025. NEPRA expects power demand to grow 2.8% year-on-year in FY25. On a month-on-month basis, net metering units increased by 43.3%.

Auto sales (cars, LCVs, vans and jeeps) fell 11% month-on-month to 15,400 units in November 2025, though they increased 53% year-on-year.

Syed Danyal Hussain of JS Global noted that the KSE-100 regained momentum this week, closing at an all-time high of 169,964.52 points, up 1.7% week-on-week. He said sentiment improved following the IMF Executive Board’s approval and noted that the Fund reported Pakistan had met 8 of 13 structural benchmarks while introducing 11 new ones going forward. The IMF also revised down its GDP growth projection for FY26 to 3.2% from 3.6% earlier, while raising its fiscal and external sector outlook for subsequent years.

In other developments, the government approved a concessional tariff of Rs22.98 per unit on additional electricity consumption from the benchmark year to promote industrial and agriculture sectors. In the latest T-bill auction, the government raised Rs982 billion against a Rs1,055 billion target, with yields largely flat across tenors. State Bank reserves increased by $12 million to $14.6 billion.

Toronto, December 13, 2025 — The Professional Institute of the Public Service of Canada (PIPSC) concluded its national AGM today. This event marked President Sean O’Reilly’s first year in office, and charted a focused path forward as federal public services face deep cuts, accelerating outsourcing, and rapid technological change.

Over 800 delegates, stewards and board members from across the country gathered to assess the year’s progress and set priorities for the months ahead. O’Reilly highlighted that, over the past year, PIPSC has invested in steward training and digital modernization, thereby creating a stronger foundation for the challenges ahead.

“This AGM marks a turning point,” said PIPSC President Sean O’Reilly. “We’ve rebuilt our internal strength, we’ve shown governments that we are a serious, solutions-focused voice, and we’re ready for the difficult period ahead. Our members deliver the critical services Canadians rely on every day, and we will defend that work with clarity, determination and unity.”

A major theme of the AGM was the union’s response to the federal government’s newly signaled cuts to the public service. PIPSC emphasized the real risks these cuts pose to Canadians, from slower inspections to weaker emergency response to delays in scientific and regulatory work. These decisions are not just reducing headcount; they’re weakening the systems that keep this country functioning. At the same time, new return to office (RTO) mandates are adding instability and stress.

Delegates reflected on the national Lobby Week that saw members meet MPs across the country to raise concerns about cuts, outsourcing, and workforce adjustment (WFA) pressures.The AGM also showcased PIPSC’s leadership on federal science and artificial intelligence. The union’s recent Science Roadmap report revealed significant strain in labs and research programs across government, while PIPSC continued pushing for responsible, evidence-based AI adoption that supports rather than replaces professional expertise.

PIPSC celebrated important member-driven wins this year, including the successful CRPEG strike — the union’s first in more than 30 years — and membership growth in specialized groups, such as Crown Counsel in Newfoundland and Labrador.

As the AGM closed, PIPSC reaffirmed its commitment to strengthening public service capacity, protecting evidence-based decision-making and advocating for the resources professionals need to serve Canadians effectively.

PIPSC represents over 85,000 public-sector professionals across the country, most of them employed by the federal government. Follow us on Facebook, on X (formerly known as Twitter) and on Instagram.

 

Google LLC is seeking to expedite scientific and medical studies by partnering with Japanese universities and offering the assistance of state-of-the-art artificial intelligence technology and donations.

The U.S-based tech giant will donate $1 million (150 million yen) to a research project at Tohoku University aimed at reducing the risk of dementia using artificial intelligence.

Google similarly announced its ongoing collaboration with Kyoto University’s Center for iPS Cell Research and Application (CiRA) on Nov. 17.

Google and the CiRA are currently proceeding with a joint verification test on an AI-driven system designed to autonomously propose scientific hypotheses.

These academic partnerships were announced at an event held in Tokyo as part of Google’s recent efforts to beef up investment in the “AI for Science” field. Google has increasingly been pouring resources into scientific surveys and ventures.

Researchers at Google were among the laureates of not only the 2024 Nobel Prize in Chemistry, awarded to an AI-adopted study team, but also the 2025 Nobel Prize in Physics, which recognizes quantum computing research.

Known by the name of AlphaFold, an AI model of Google is currently utilized by more than 3 million scientists worldwide, including 150,000 from Japan, in a quest to illustrate protein structures that were previously difficult to analyze or predict.

Google is already establishing itself as a major platform in the science domain, beyond its original area of expertise.

Pushmeet Kohli, an official from the Google DeepMind team, who is responsible particularly for AI development for scientific purposes, emphasized in an interview that the non-human form of intelligence will help accelerate science and thereby lead humanity into a new era.

Kohli likewise stated that science discoveries made by AI will, in turn, have a commercial impact at some point in the future.

On the day of the announcement, Shinji Okuyama, president of the Japanese arm of Google, revealed a series of endeavors to extend support to university and college labs, with an eye toward further speeding the trend along.

The project at Tohoku University will utilize an AI model to reproduce past sights of towns and cities through images and videos by referring to old photos and other records.

Making the most of the AI-generated materials, it will examine whether stimulating people’s cognitive functions can lessen the risk of dementia.

Working with Kyoto University’s CiRA, Google embarked on a validation trial in September for the “AI co-scientist” system.

Interpreting and analyzing data from both inside and outside the CiRA, the digitized colleague can reportedly suggest adequate hypotheses for a range of research objectives, inclusive of the next-generation way to efficiently produce induced pluripotent stem (iPS) cells.

Hirohide Saito, a biological professor at Kyoto University, took the stage during the presentation session organized in the capital’s Shibuya Ward on Nov. 17.

“Teaming with the system makes me feel as if I have an additional, exceptionally skilled scientist in my lab,” Saito said while praising Google for its technology. “I am seeing firsthand how powerful it is, just as I did at the advent of AlphaFold.”

Saito continued, “The use of AI will become an essential part of science from here on out.”