Category: 3. Business

The Federal Board of Revenue (FBR) has fixed a transaction limit of Rs. 200,000 for cash-based payments for e-commerce Cash on Delivery (CoD) orders.

The announcement was made through Circular No. 02 of 2025-26 (Income Tax), dated August 12, 2025, as part of the government’s push toward a cashless economy.

The circular reiterates the provisions of Section 21(s) of the Income Tax Ordinance, 2001, emphasizing that the same transaction limit for cash payments at retail outlets will also apply to e-commerce CoD orders.

The FBR stated that this measure aligns with the government’s broader objective of promoting digital payments and reducing reliance on cash transactions.

The Rs. 200,000 limit is expected to streamline payment processes, enhance transparency, and curb tax evasion.

Las Vegas
 — 

The president of Cisco rejects the doomsday warnings from some tech leaders that artificial intelligence will make entry-level jobs vanish.

“I just refuse to believe that humans are going to be obsolete. It just seems like it’s an absurd concept,” Jeetu Patel, who’s also the chief product officer at AI infrastructure company Cisco, told CNN.

While Patel acknowledged there will be “growing pains where people will get disrupted,” he strongly pushed back on Anthropic CEO Dario Amodei’s comments saying AI will spike unemployment to as high as 20% and eliminate half of all white-collar entry level jobs.

He’s one of several tech leaders that have pushed back on Amodei’s narrative; others have said AI is likely to change jobs by requiring workers to adopt new skills rather than wiping out jobs completely. Still, his comments come amid a plunge in entry-level hiring and as tech giants are increasingly using AI in the workplace, raising questions about the future of work.

“Dario is a friend. We are investors in Anthropic. I have a ton of respect for what he’s done. In this area though, I have a slightly different opinion on a couple of different dimensions,” Patel said Wednesday at Ai4, an AI conference in Las Vegas. “I reject the notion that humans are going to be obsolete in like five years, that we’re not going to have anything to do and we’re going to be sitting on the beach… It doesn’t make any sense.”

In particular, Patel said he has a “huge concern” with Amodei’s line of thinking that AI could wipe out entry-level jobs because companies benefit from adding younger workers who often better understand new technologies.

“If you just say, ‘I’m going to eradicate all entry-level jobs,’ that’s the stupidest thing a company can do in the long term because what you’ve done is you’ve actually taken away the injection of new perspective,” the Cisco exec said.

Patel argued that for some jobs, having significant experience can be a “massive liability.” For instance, he said people often hold assumptions about things that may not have worked five years ago, but do now.

That’s why Patel said he spends “an enormous amount of time” with younger employees and interns.

“I learn a lot from people who’ve just gotten out of college because they have a fresh and unique perspective. And that perspective coupled with (my) experience makes magic happen,” Patel said. “It would be a really bad strategy to not have early in career people and entry level people injected in your workplace.”

However, some economists say there are early signs suggesting AI may already be depressing entry-level jobs.

Even though the overall job market has been mostly healthy, the Class of 2025 faces the worst job market for new college graduates in years.

For the first time since tracking started in 1980, the unemployment rate for recent graduates (those 22 to 27 years old with at least a bachelor’s degree) is higher than the national unemployment rate, according to Oxford Economics.

Entry-level hiring has tumbled by 23% between March 2020 and May 2025, outpacing the 18% decline in overall hiring over that span, according to data from LinkedIn.

This is happening for a variety of reasons, some of them unrelated to AI.

But AI does seem to be playing a role, some economists say. For instance, Oxford Economics noted that employment in two industries vulnerable to AI disruption — computer science and mathematics — has dropped by 8% since 2022 for recent graduates. By comparison, employment has little changed in those industries for older workers.

“AI is definitely displacing some of these lower-level jobs,” Matthew Martin, senior US economist at Oxford Economics, told CNN in June.

Economists and AI researchers say the jobs most at risk involve repetitive tasks that can be automated, such as data input.

“The less interesting clerical jobs will go away. They will be automated. And if you don’t automate, you’ll go out of business,” Alan Ranger, vice president of marketing at Cognigy, told CNN on the sidelines of Ai4.

Cognigy would know: It sells conversational AI agents that provide customer support for banks, airlines and other companies.

Ranger said Cognigy’s AI agents came to the rescue when German airline Lufthansa had to cancel every flight due to a strike in Germany earlier this year. The technology allowed Lufthansa to rebook thousands of flights per minute, he said.

Ranger argued that companies won’t massively lay off customer support workers because humans still need to manage the AI agents, design the software and tackle other complex issues.

Yet he did concede that companies will have fewer customer support workers in the future as people leave the industry and retire, and because firms will hire for different roles.

“Account management and sales roles won’t get replaced anytime soon,” Ranger said. “An AI can’t buy you a steak dinner.”

Patel, the Cisco executive, said the onus is on the tech industry and society as a whole to ensure a smooth transition to superintelligent AI.

“In tech, we live in a bubble. We keep thinking, ‘Oh, disruption is just part of it.’ But when a steel mill worker gets disrupted, they don’t become an AI prompt engineer,” he said.

Patel said there is a lot of retraining and reskilling that must be done in tandem with governments and educators.

“The tech community has to actually take some responsibility for this,” he said. “Because if we don’t, you will create some level of pain in society and we want to make sure we avoid that.”

Foster + Partners has revealed designs for IOTA Seoul I, a mixed-use development on a landmark site between Seoul Station and Namsan, a 270-metre-high peak in Jung-Gu. Historically, the site acted as an important gateway to Seoul when arriving by train. The project creates a green oasis in the heart of the city – and restores the area’s historic connection with Namsan and its surrounding public park. 

Luke Fox, Head of Studio, Foster + Partners, said: “We are extending the experience of the adjacent Namsan Park into the development and creating a welcoming new destination for the people of Seoul. Our scheme responds to this important site – where nature and the city converge – with a series of interventions that carefully balance both elements. New buildings are woven together by landscaping and green community spaces that bring a wealth of social and environmental benefits.” 

Two new buildings – a six-star hotel and a 34-storey office tower – are positioned at an optimal distance apart from one another, restoring clear lines of sight from Seoullo 7017 to Namsan and the iconic N Seoul Tower. The design re-establishes lost connections with nature and greens 40 percent of the site for public use. A central park, pocket gardens, landscaped terraces, and roof terraces draw people into the development and provide new social spaces within the city. The site’s level changes are also resolved – and new pedestrian thoroughfares are established with escalators and stairs that improve access from the train station and Toegye-ro. 

The office tower and its pavilion offer state of the art amenities tailored to tenants’ needs and a roof garden that offers spectacular views of Namsan and the city. The office building’s structural system provides 18-metre spans of column-free space for inherent flexibility and longevity. A third building – located alongside the hotel – will be the city’s new centre for tourism. It is publicly accessible with step-free access to a roof garden that overlooks the newly created public park. The practice’s design also celebrates the site’s architectural heritage by retaining the lobby space of an existing hotel, which was designed by the architect Kim Jong-sung.  

47 percent of the development’s operational energy will be generated by photovoltaic panels, which are integrated into building facades and roofs, ground source heating and cooling, and the latest fuel cell technology. 

Jeremy Kim, Partner, Foster + Partners, added: “We are delighted to be working on this exciting project that gives back to Seoul – by positively transforming this important piece of its urban fabric.” 

OpenAI has quietly rolled out a new subscription tier titled ChatGPT Go, priced at around PKR 1,300 ($4.55 USD).

The plan offers compelling upgrades over the free tier, including access to GPT 5, and enhanced image generating capabilities. You also get advanced data analysis features. However, it is not for everyone.

What’s in the Go Plan?

While similar in name to Plus and Pro offerings, ChatGPT Go provides a mid level alternative for users seeking more than free access without committing to higher priced plans. It delivers:

• Access to GPT 5, albeit with some usage limits
• Expanded messaging throughput and upload capacity
• Integration of AI based image creation
• Limited deep research tools, longer memory retention, and advanced data analysis tools

ChatGPT Go: A Strategic Regional Rollout

OpenAI appears to be testing this tier strategically, targeting markets where affordability strongly influences adoption rates. A limited region rollout allows them to monitor performance and user reception before broader deployment.

This move addresses a gap in OpenAI’s lineup, positioned below the $20 ChatGPT Plus (PKR 5,600) and $200 Pro (PKR 56,000)tiers, and suggests efforts to democratize AI access and broaden user reach.

Broader Subscription Trends

OpenAI’s broader strategy continues to focus on subscriptions, with plans like Plus, Pro, Team, and Enterprise already in place. The Go tier takes a notable step toward making advanced AI features financially accessible by offering the tier for developing markets, such as India. However, it is still not available for Pakistan.

As the AI ecosystem becomes more competitive, such pricing innovations could preempt rising rivals. OpenAI may expand ChatGPT Go to other regions if early results are positive.

Performance and user feedback will determine if Go becomes permanent or evolves further.

MANILA, Philippines — Asian are generally higher after most stocks on Wall Street fell following a disappointing report that said inflation was worse last month at the U.S. wholesale level than economists had expected.

U.S. futures rose while oil prices slipped.

China reported data showing its economy was feeling pressure from higher U.S. tariffs in July, while property investments fell further.

Retail sales rose 3.7% year-on-year, down from 4.8% in June, while investments in factory equipment and other fixed assets rose a meager 1.6%, compared with 2.8% growth in January-June.

Uncertainty over tariffs on exports to the United States is still looming over manufacturers after President Donald Trump extended a pause in sharp hikes in import duties for 90 days following a 90-day pause that began in May.

The Shanghai Composite index added 0.8% to 3,694.91, but Hong Kong’s Hang Seng index fell 1.2% to 25,216.45.

“Chinese economic activity slowed across the board in July, with retail sales, fixed asset investment, and value added of industry growth all reaching the lowest levels of the year. After a strong start, several months of cooling momentum suggest that the economy may need further policy support,” ING Economics said in a market commentary.

In Japan, the Nikkei 225 gained 1.7% to 43,381.10 after the government reported that the economy grew at a 1% annual pace in the April-June quarter. That was better than analysts had expected.

Elsewhere in Asia, Australia’s S&P/ASX 200 rose 0.7% to 8,938.60, Taiwan’s TAIEX gained 0.4%. India’s BSE Sensex edged 0.1% higher.

Attention later Friday will likely focus on an update on U.S. retail sales and on a meeting between U.S. President Donald Trump and Russian President Vladimir Putin.

On Thursday, seven out of every 10 stocks within the S&P 500 fell, though the index edged up by less than 0.1% to set another all-time high. The Dow Jones Industrial Average dipped 11 points, or less than 0.1%, and the Nasdaq composite fell less than 0.1% from its record set the day before.

The inflation report said that prices jumped 3.3% last month at the U.S. wholesale level from a year earlier. That was well above the 2.5% rate that economists had forecast, and it could hint at higher inflation ahead for U.S. shoppers as higher costs make their way through the system.

The data led traders to second guess their widespread consensus that the Federal Reserve will cut interest rates at its next meeting in September. Lower rates can boost investment prices and the economy by making it cheaper for U.S. households and businesses to borrow to buy houses, cars or equipment, but they also risk worsening inflation.

Higher interest rates drag on all kinds of companies by keeping the cost to borrow high. They can hurt smaller companies in particular because they often need to borrow to grow. The Russell 2000 index of smaller U.S. stocks tumbled a market-leading 1.2%.

Thursday’s disappointing data followed an encouraging update earlier in the week on prices at the consumer level. A separate report on Thursday, meanwhile, said fewer U.S. workers applied for unemployment benefits last week. That’s a good sign for workers, indicating that layoffs remain relatively low at a time when job openings have become more difficult to find.

But a solid job market could also give the Fed less reason to cut interest rates in the short term.

Big Tech stocks helped mask Wall Street’s losses. Amazon rose 2.9% to add to its gains from the prior day when it announced same-day delivery of fresh groceries in more than 1,000 cities and towns.

Because Amazon is so huge, with a market value of $2.45 trillion, the movements for its stock carry much more weight on the S&P 500 than the typical company’s.

In other dealings early Friday, U.S. benchmark crude lost 8 cents to $63.88 per barrel. Brent crude, the international standard, fell 11 cents to $66.73 per barrel.

The dollar edged lower to 147.11 Japanese yen from 147.20 yen. The euro rose to $1.1672 from $1.1654.

___

AP Business Writer Stan Choe contributed.

Zong, Pakistan’s No.1 data network, and ZTE Corporation (0763.HK / 000063.SZ), a global leading provider of integrated information and communication technology solutions, have announced the commercial launch of the industry’s first high-power 8T8R Ultra-Broadband Radio (HP 8T8R UBR) and Digital Intelligent Antenna (DIA) solution.

This pioneering deployment marks a significant milestone for both companies. ZTE’s HP 8T8R UBR solution delivers the industry’s highest power (8x120W) for FDD dual band (1800MHz and 2100MHz), which are the key bands of Zong network. It is also the first such solution to be commercially launched worldwide.

This breakthrough in RRU high integration design enables a single unit to replace multiple legacy RRUs, saving up to 67% of RRUs for towers. This consolidation dramatically reduces the complexity of deployments, minimizes antenna space requirements, and lowers the overall equipment footprint.

Coupled with ZTE’s DIA antenna solution, the system supports the beamforming function by software definition which enables two 4T4R cells for current network or one 8T8R cell for the next-generation network.

The two companies are also exploring cost-efficient deployment strategies. For the scenario defined for newly rolled-out sites, they are used as “422” site which means one 4T4R cell and two 2T2R cells per site, particularly in scenarios where space and power are constrained.

Results from Zong’s commercial launch revealed significant performance enhancements, including a capacity increase of 34% in daily and 83% in busy hour, a user experience improvement of 173% in daily and 115% in busy hour. Beyond improved performance, it simplifies deployment and has proven to be a reliable and efficient alternative to traditional multi-radio setups.

Zong has expressed strong interest in scaling these solutions across its network, citing clear operational benefits, cost savings, and improved service quality.

This milestone underscores the shared commitment of Zong and ZTE to driving technological innovation and delivering next-generation network experiences. Through close collaboration, both companies are not only accelerating the evolution of Pakistan’s digital infrastructure but also setting a new benchmark for efficient, high-performance mobile networks across emerging markets. As the partnership deepens, Zong and ZTE will continue to explore cutting-edge solutions that empower users and enable sustainable growth.

Saudi Arabia’s sovereign wealth fund exited positions in several US-listed stocks in the second quarter, including Meta Platforms Inc., during a period of market volatility sparked by President Donald Trump’s tariff policies.

The $1 trillion Public Investment Fund also sold holdings in FedEx Corp. and Shopify Inc., according to a Bloomberg News analysis of its latest 13F filing. Meta, the parent of Facebook and Instagram, rose about 28% during the quarter and was among the PIF’s biggest exits.

• Vision 2027: Mahindra’s new generation of SUVs, based on NU_IQ platform, set to launch starting 2027
• Heartcore Design: The new SUV concepts showcase the next generation of Mahindra’s HEARTCORE design philosophy
• Exploring The New Impossible: The multi-energy NU_IQ platform has been engineered to address untapped white spaces across India and global markets
• World beating SUVs with no compromise:
  • Command Seating with Superior Driving Dynamics
  • Super Spacious Cabin with class-leading boot space
  • Flat form architecture takes first flat-floor ICE SUV from drawing board to reality
  • Lightweight design with top-tier safety standards
  • Sci-Fi Tech with Intuitive NU_UX: Next-gen Integrated Domain Architecture
• Endless Adaptability: Multiple Top Hats, Powertrains, FWD/AWD, LHD/RHD capability

 

Mumbai, August 15, 2025: Mahindra & Mahindra Limited, India’s leading SUV manufacturer, today unveiled its all-new modular, multi-energy NU_IQ platform that will underpin a new range of disruptive SUVs. The company offered a glimpse of its next-generation products by showcasing four world-beating concepts based on the new platform.

The revolutionary NU_IQ platform is the result of innovation born out of Mahindra’s strategy in the automotive space by creating products that rewrite the rules of mobility and free consumers from compromises. The manifestation of this vision has been showcased via four world-beating SUV concepts – the Vision.S, Vision.T, Vision.SXT and Vision.X, which address the white spaces while staying true to Mahindra’s core attributes of turn-on design – unmissable presence, spirited performance – on-tap power, world-class safety, sci-fi today and tough yet sophisticated.

R Velusamy, President – Automotive Business (Designate), Mahindra & Mahindra Ltd. and Managing Director, Mahindra Electric Automobile Ltd., said, “NU_IQ is a strategic blueprint for the future of Mahindra SUVs globally. With its modular, multi-energy architecture, it gives us the flexibility to innovate across multiple top hats and powertrains whilst staying true to our SUV DNA. Designed to resolve paradoxes, NU_IQ forms the foundation for our next generation of SUVs. It marks a bold step and the start of a new era that frees customers from compromises and puts truly desirable, premium core SUVs squarely in the mainstream.”

Pratap Bose, Chief Design & Creative Officer – Auto & Farm Sectors, Mahindra & Mahindra Ltd., said, “The NU_IQ SUVs, designed at our Global Design studios in Mumbai and Banbury, represent the start of a new chapter of our HEARTCORE design philosophy. They build on the central tenet that great design should create an emotional bond between people and their vehicles while re-imagining it for a new future. Based on the theme ‘Opposites Attract’, where the juxtaposition of contrasting elements creates an expressive new design language, these concepts promise to shape experiences that inspire adventure, confidence, and connection on any terrain, anywhere in the world.”

Nalinikanth Gollagunta, Chief Executive Officer – Automotive Division, Mahindra & Mahindra Ltd. and Executive Director, Mahindra Electric Automobile Ltd., said, “NU_IQ blends innovation, global design and advanced technology to disrupt the white spaces in the automotive industry in India and internationally across Right-and-Left-Hand-Drive markets. The four concepts we are showcasing here offer a bold preview of what’s to come. They usher in a new no-compromise era of mobility and give freedom a new meaning.”

The Next Phase of HEARTCORE Design Philosophy:

Vision.S,Vision.T,Vision.SXT andVision.X, each represent a distinct expression ofMahindra’s future- ready NU_IQ platform. These concepts represent Mahindra’s commitment to redefining personal, all-terrain mobility for a global audience, combining strong brand heritagewith advanced, expressive design. From the Born Iconic spirit of Vision.T and Vision.SXT, to the Sporty Solidity of Vision.S, and the Sculptural Athleticism of Vision.X, each model is crafted with a clear, unique personality. Developed collaboratively by Mahindra India Design Studio (MIDS) in Mumbai and Mahindra Advanced Design Europe (MADE) in Banbury, UK, the four concepts are a testament to the brand’s evolving design language, one that balances timeless brand cues with modern, future-focused innovation.

These concepts, engineered at Mahindra ResearchValley, will go into production starting 2027. This bold strategy furthers Mahindra’s vision of delivering class-leading, luxury SUVs to a larger audience in India, while redefining the premium SUV experience in global markets, including Left-Hand Drive regions.

Social Media Addresses for Mahindra Auto and Mahindra Electric Origin SUVs:

• Brand website: https://auto.mahindra.com/ | https://www.mahindraelectricsuv.com/
• Instagram: @mahindra_auto | @mahindraelectricsuvs
• Twitter (X): @mahindra_auto | @mahindraeSUVs
• YouTube: @MahindraAutomotive | @mahindraelectricsuvs
• Facebook: MahindraAutomotiveIndia | @mahindraelectricoriginsuvs
• Hashtags: #Freedom_NU #MahindraAuto #MahindraElectricOriginSUVs

 

About Mahindra

Founded in 1945, the Mahindra Group is one of the largest and most admired multinational federation of companies with 260,000 employees in over 100 countries. It enjoys a leadership position in farm equipment, utility SUVs, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality, and real estate.

The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.

Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise/ For updates subscribe to https://www.mahindra.com/news-room.

Media contact information

Siddharth Saha

Sr. Manager, Marketing Communications, Mahindra Automotive

Email – [email protected] 

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