Category: 3. Business

  • A people-first vision for the future of work in the age of AI

    A people-first vision for the future of work in the age of AI

    Many American workers associate artificial intelligence (AI) with layoffs, less satisfying work, and tech billionaires becoming ever more wealthy at their expense. They may be right.

    But one can also imagine a world in which the fruits of AI are instead invested in society. What if every K-12 student was taught by well-trained teachers in small classes, every patient interacted with unharried nurses, elders had the opportunity to age with dignity in their own homes or in high-quality residential care facilities, and everyone could find an affordable therapist when needed? And what if care workers were all people, not AI systems or robots, doing meaningful well-paid work to rebuild our communities and health, supported and paid for by the fruits of the AI economy? While tech companies target already underfunded care professions for replacement by AI, undermining our shared humanity and connections, we describe below a vision for an AI future that puts people first.

    On March 26, the AFL-CIO will host a national Workers First AI Summit to ensure workers help shape the policies governing AI in the workplace. The summit arrives at a moment when debates about AI and jobs often center on a single question: Will AI destroy jobs, change jobs, create new jobs, or leave work largely unchanged? There are doomsayers and champions on both sides of the debate. 

    But this framing misses a more immediate reality that was self-evident at a regional AI summit sponsored by the Cleveland AFL-CIO, Case Western Reserve University, and the Canadian Institute for Advanced Research (CIFAR) last month. Americans are already experiencing a steady decline in job quality: increased monitoring and surveillance, algorithmic scheduling, and declining autonomy—all against the backdrop of stagnant wage growth and a growing affordability crisis. Whether or not AI ultimately eliminates millions of jobs, many workers already feel that their work is being degraded or, to use the language of the day, “enshittified.”

    AI may accelerate this process, but it’s not the root cause. The decline in worker bargaining power, enervation of enforcement agencies like the National Labor Relations Board (NLRB), and collapse of union membership all began decades ago, long before modern AI. Meanwhile, institutions like schools and hospitals—that both employ and serve millions of Americans—remain chronically understaffed. The result is a system with strong protections on paper but limited impact in practice.

    As a society, we have gradually come to accept the enshittification of work and associated degradation of both public and private services. Public servants are routinely underpaid and overburdened, working in institutions that lack the people and resources they need to deliver key services. Teachers, nurses, and social workers face growing administrative burdens and constant monitoring, while receiving stagnant or declining pay and benefits.

    Even sectors once known for worker autonomy are beginning to feel the pain. Silicon Valley was long seen as a bastion of professional agency, as tech companies routinely offered software engineers generous salaries and perks in an effort to attract and retain top talent. But those days are ending. Instead, tech companies are using both the fruits and threat of AI to push workers harder, resulting in longer hours, fewer jobs, and higher expectations for remaining workers. Some firms are even flirting with a version of China’s infamous “996” schedule, where work is required from 9 a.m. to 9 p.m., six days a week. And engineers are thus gripped by anxiety about AI’s potential to transform or eliminate their jobs.

    They’re hardly alone. We’re all confronting a future in which many jobs fall victim to the AI revolution and many remaining roles are rendered unappealing by the ongoing demise of regulatory institutions, growth of insecurity, and normalization of management practices that would have seemed unthinkable to our grandparents. It’s no wonder that more than half of surveyed Americans fear that AI will take their jobs and replace their face-to-face relationships. We must not accept these imagined futures. 

    People-first labor policy proposals for the age of AI

    Protect and increase the role of people in the care workplace

    Imagining a better future for workers in the age of AI means protecting the role of people in the workplace. Some jobs should be done by humans: jobs that build human relationships and are important to society, like teaching and care-economy professions. These professions have long suffered from the enshittification of work, facing overcrowded classrooms, hospital closures, and outsized caseloads that are good for neither providers nor the people they serve. Instead, people-first policies, such as licensure and minimum staffing requirements, could expand the professional workforce and provide fruitful employment while improving job quality.

    Teaching offers an example. A key lever of student success is a small teacher-to-student ratio; small class sizes are a critical differentiator at most private schools. Yet public schools remain chronically underfunded with far too many students per teacher, leading to degraded learning experiences and teacher–student relationships. AI companies did not create this problem, but they could exacerbate it. A recent report found that students in classrooms using AI felt less connected to their teachers and peers. This is especially concerning given that teacher–student relationships are vital to many student outcomes, and many educators are raising concerns about the risks AI in the classroom presents to student learning.

    Rather than replacing teachers with AI, we should boost their numbers. Laws that mandate minimum staffing levels and allocate funding to train the school workforce could bring more teachers into the classroom and lower class sizes. This is not unprecedented: Minimum staffing levels are required in air traffic control and nuclear power plants, and many states already mandate a maximum number of students per teacher in child care and K-3. Similar requirements could be put in place for other care workers. Such workers could still use AI, but in ways they control and that benefit both workers and the people they serve. Indeed, many health care systems already use AI systems to aid notetaking—a use that has the potential to help nurses spend more time with patients.

    Develop institutions to support training, professionalism, and worker rights

    It’s not enough to create and protect these people-first jobs; if supply is to meet demand, we need training pathways that will allow more people to enter these careers at different points in the lifecycle. One hypothetical example of a mid-career transition involves software engineers. Many engineers, whose jobs are currently threatened by AI, have the knowledge and degrees required for math and science education, where there are already persistent teacher shortages. With targeted retraining programs and public funding, experienced engineers could transition into teaching careers that draw on their expertise. 

    But training alone also isn’t enough. Engineers went into tech rather than teaching for many reasons, including differences in income, prestige, and autonomy. A serious effort to build a pipeline from engineering to teaching would have to address these gaps by elevating the incomes and status of people-first professions. That means raising salaries, guaranteeing adequate staffing levels, and restoring professional autonomy so teachers and other care professionals are trusted as experts. By simultaneously investing in retraining pathways to expand the supply of qualified workers and strengthening these professions to increase demand for their expertise, policymakers could turn the threat of AI displacement into an opportunity to address longstanding shortages in critical public-facing fields. In interventions like these, we find an optimistic vision for the AI future. 

    Some of the institutions needed to facilitate such a transition already exist, albeit in diminished form, and could be adapted to serve this new vision. A revitalized NLRB, for instance, could once again help workers negotiate “the terms and conditions of their employment or other mutual aid or protection,” in line with its original mandate. The Fair Labor Standards Act might be amended to include minimum staffing levels in some industries, and the Wage and Hour Division of the Department of Labor could be tasked with their enforcement. We could even use AI to support these enforcement efforts, treating it as a force multiplier in agencies that have always been understaffed.

    But other institutions will likely have to be built from scratch. The U.S. has never embraced post-employment training, let alone developed institutions to link the supply of trained workers to the demand for their skills. On the contrary, training in the U.S. has typically occurred either in schools, prior to employment, or on-the-job; neither approach works for mid-career workers in transition.

    Fortunately, other countries offer models of lifelong learning on which to draw, and we have many local experiments that might be scaled. If properly governed, new information technologies could facilitate the adaptation of these models, especially in conjunction with greater worker organization. It’s no coincidence, after all, that the most successful models of lifelong learning are found in European countries with powerful trade unions; by aggregating the interests of their members, and carrying out productive dialogue with employers, European unions are indispensable partners in the training process, and in so doing, keep their workers secure and countries competitive. Thus, reinvigorated regulatory and collective bargaining structures could go hand-in-hand with the development of a more robust approach to lifelong learning.

    Create tripartite institutions that encourage the co-design of AI

    Tripartite institutions that bring government, business, and labor unions to the table could support interventions like these by identifying additional jobs that need minimum staffing. But they could also serve as venues for the productive, participatory design of AI systems themselves. When AI systems are introduced from above, they tend to degrade working conditions to everyone’s detriment. At last month’s Cleveland AFL-CIO convening, for example, utility workers described client management software that reduces both their productivity and quality of work life by sending them on inefficient routes down unsafe streets. Their employer’s general-purpose systems simply weren’t designed for their use cases; employers by themselves are insufficiently familiar with the specifics of downstream use cases to design for them. If management and labor could collaborate on the design of bespoke software, however, they could achieve mutual gains.

    This is not wishful thinking. Computer scientists at Carnegie Mellon University and the UNITE HERE union have co-designed an app that facilitates communication and record-keeping by guest room attendants in ways that ease communication about issues like missing supplies and minimize labor-management conflict. The result is a win-win that speaks to broader possibilities, like shop-floor problem-solving by trained manufacturing workers armed with data flows from automated equipment.

    Consultation of communities affected by AI use is already required for high-impact systems used by the federal government, including procured systems. But the post-hoc consultations required by the current rule do not allow workers the opportunity to shape these systems before deployment. Effective participatory design requires understanding and compensating it as work, giving workers voice, and balancing the tension between co-design in the context of specific use cases and the scale of AI systems. Government facilitation of tripartite participation (through grants and demonstration projects in the public sector) can help stakeholders achieve these goals and encourage the development of worker-centered AI.

    Addressing AI and labor displacement requires ambitious policy

    The American public is worried about the impact of AI in the workplace. But industry leaders are touting the technology’s potential while making enormous profits and doing everything in their power to bring innovations to market as fast as possible, with little regard for the people who may be harmed. The gap between the wealth of the elite and the average American is large and growing; AI has the potential to make this disparity even greater. Policymakers must meet the moment with a transformative vision for the future of work that puts people first.

    Continue Reading

  • Amgen Named One of the World’s Most Ethical Companies® by Ethisphere

    Amgen Named One of the World’s Most Ethical Companies® by Ethisphere

    Amgen has been recognized as one of the 2026 World’s Most Ethical Companies® by Ethisphere, a global leader in defining and advancing the standards of ethical business practices. The recognition underscores Amgen’s long-standing commitment to operating with integrity while advancing science to serve patients.

    The World’s Most Ethical Companies® designation is awarded to organizations that “lead with integrity, prioritize ethical business practices, and demonstrate a commitment to doing what’s right.”

    Companies are evaluated through Ethisphere’s proprietary Ethics Quotient® (EQ) framework, which assesses a company’s ethics and compliance program, culture, and governance practices.

    This recognition reflects how Amgen conducts its work every day, where ethics and compliance are core elements of the Amgen Values, embedded throughout the organization.

    “World’s Most Ethical Companies” and “Ethisphere” names and marks are registered trademarks of Ethisphere LLC.

     

    Continue Reading

  • Asian countries prepare COVID-era measures as energy crisis deepens

    Asian countries prepare COVID-era measures as energy crisis deepens

    JAKARTA: Several Asian nations are rolling out or planning to enforce measures similar to their COVID-19 response strategies as they try to mitigate energy crises as a result of fuel shortages caused by the US-Israeli war on Iran.

    In many Asian countries dependent on oil imports, economic activity has been greatly disrupted since the beginning of the attacks on Feb. 28, which led to the closure of the Strait of Hormuz — a critical chokepoint where around 80 percent of the crude oil and liquefied natural gas passing through is destined for Asian markets.

    In the Philippines, which according to government estimates has only 45 days of fuel left, the president this week introduced a nationwide state of emergency as the situation began to pose  a “threat to the country’s energy security.”

    The emergency enables the government to bypass usual processes as it responds to the fallout from the Iran war and “implement responsive and coordinated measures under existing laws to address the risks.”

    As the impact on households and businesses has already been felt across the country, the government has distributed cash assistance to public transport workers to help them cope with rising fuel prices and introduced four-day workweeks in the public sector.

    Pakistan also announced remote work for half of its public sector employees earlier this month and announced a two-week closure of schools to conserve energy. 

    In Sri Lanka, a midweek holiday was introduced last week for those working in education, administration and public transportation, with the government encouraging the private sector to “follow suit” and fend off the initial shock from the situation in the Middle East.

    In Laos, Vietnam and Thailand, the measures have been more reminiscent of the pandemic, with officials pushing for the return of online-based work to reduce energy consumption.

    In Indonesia, the government is also weighing up a work-from-home policy, as it estimates it could cut fuel consumption by up to 20 percent.

    “With the fuel price hikes, we need to be more efficient about working hours. We will introduce a one-day work-from-home flexibility out of the five working days,” Chief Economic Affairs Minister Airlangga Hartarto told reporters.

    “We are preparing for its implementation, because we’re hoping this measure will be adopted not just by civil servants, but also private employees and regional governments.”

    In contrast with the pandemic, however, the situation offers the possibility of widening the use of public transportation in the largest Asian cities like Jakarta, Manila or Bangkok, which are plagued by traffic jams and vehicle emissions.

    “What (governments) should do is to accelerate the energy transition from fossil fuels to new and renewable energy … (and) mandate the use of public transport such as buses or trains, to get to work for officials and civil servants,” said Nailul Huda, economist from the Center of Economic and Law Studies in Jakarta.

    “This won’t disrupt public services and will actually save money.”

    Continue Reading

  • Oil Prices Today: Crude Drops on the U.S.’s 15-Point Peace Plan – Barron's

    1. Oil Prices Today: Crude Drops on the U.S.’s 15-Point Peace Plan  Barron’s
    2. Oil price falls as Trump talks up Iran peace negotiations  BBC
    3. Stocks rise and oil dips on hopes of 15-point Iran peace plan  The Guardian
    4. Middle East war live: Oil volatile as Iran lays out own terms to end conflict  Financial Times
    5. Oil prices fall as Iran signals safe passage for ‘non-hostile’ ships through Strait of Hormuz  CNBC

    Continue Reading

  • Rupee Up ‘Astonishing’ 125th Day in a Row Against US Dollar After Big Recovery

    Rupee Up ‘Astonishing’ 125th Day in a Row Against US Dollar After Big Recovery

    The Pakistani rupee (PKR) closed in green against the US Dollar (USD) for the 125th consecutive day on Wednesday.

    Meanwhile, it posted gains against most of the other major currencies during today’s session.

    The PKR closed at 279.21 after gaining one paisa against the US Dollar today.

    Other Currencies

    PKR lost one paisa against the UAE Dirham (AED) and two paisas against the Saudi Riyal (SAR).

    Meanwhile, it gained 74 paisas against the British Pound (GBP) and 21 paisas against the Euro (EUR).

    Currency 19-Mar

    2026

    24-Mar

    2026

    25-Mar

    2026

    Change

    +/

    USD 279.2522 279.2232 279.2113 0.0119
    EUR 319.7577 324.0106 323.8013 0.2093
    GBP 370.2046 374.8013 374.0593 0.7420
    AUD 196.2026 195.0234 194.5405 0.4829
    MYR 70.9032 70.7342 70.4634 0.2708
    CNY 40.4549 40.5479 40.4669 0.0810
    CAD 203.2329 203.1527 202.5472 0.6055
    AED 76.0377 76.0174 76.0265 -0.0091
    SAR 74.3631 74.3802 74.4048 -0.0246

    It gained 48 paisas against the Australian Dollar (AUD) and 60 paisas against the Canadian Dollar (CAD).


    Continue Reading

  • Large Polymarket, Wall Street bets on Trump’s war news under scrutiny | US-Israel war on Iran News

    Large Polymarket, Wall Street bets on Trump’s war news under scrutiny | US-Israel war on Iran News

    From cryptocurrency-based online platforms to oil futures and the United States S&P 500 stock benchmark, traders have made bets worth hundreds of millions of dollars since the start of the US-Israeli war on Iran with suspiciously well-timed trades that suggest knowledge of key White House decision-making.

    One of the most well-documented examples has been Polymarket, a platform that lets users anonymously bet on event outcomes from sports tournaments to ceasefires without uploading an identity document.

    Recommended Stories

    list of 4 itemsend of list

    Polymarket gained mainstream popularity during the 2024 US presidential election, but it has become synonymous with suspected insider trading since January after well-timed bets on US plans to abduct Venezuelan President Nicolas Maduro, followed by the start of the war on Iran two months later.

    Researchers have tracked dozens of examples of anonymous new accounts betting big but also correctly just before a critical event like the February 28 US-Israeli strikes that began the Iran war.

    As of Wednesday, there were 355 live prediction markets on Polymarket linked to outcomes in the war, such as the identity of the next leader of Iran, the date of a US-Iran nuclear deal and when Iran will launch military action against Israel.

    The independent on-chain analyst known as Andrew 10 GWEI told Al Jazeera one of the most “striking” recent examples of suspicious betting was his discovery of 38 accounts that he believes belong to one person and netted more than $2m betting correctly on the February 28 strikes.

    Each of the accounts placed from four to 10 bets with a nearly 100 percent success rate, according to research Andrew shared on X. Also noteworthy was the fact that the user began preparing accounts with cryptocurrency transfers on February 22 before bets were placed on February 27 between 11:00 and 12:00 GMT on the chance of a February 28 strike.

    Red flags

    While successful Polymarket bets could be based on everything from open-source intelligence to simple beginners’ luck, researchers look for several red flags that suggest suspicious betting.

    They include practices like “wallet splitting”, or dividing up bets among a series of accounts to avoid detection, or opening multiple wallets to place a new bet, said Ben Yorke, a former research analyst at Cointelegraph Consulting and founder of Starchild, a platform that lets users develop personal artificial intelligence agents.

    “The most important aspect of a suspicious wallet would be a wallet with no history before,” Yorke told Al Jazeera. “An average user of Polymarket will have a long history, but if you’re doing insider trading, you wouldn’t want that link, so you would create a fresh wallet.”

    A more recent case was identified this week on the X account Polymarket History, which found a group of newly created Polymarket accounts had bet $2m on the same three predictions: There is no Iran ceasefire by March 31, no entry of US forces into Iran by March 31 and US forces enter Iran by April 30.

    Fintech platforms have not been the only source of suspicious betting over the past week as a series of well-timed Wall Street trades have also raised eyebrows and questions of possible insider trading.

    The recent round of questionable trades all occurred early on Monday before the markets opened in the US and Trump announced on his Truth Social platform at 7:04am (11:04 GMT) that he was going to delay threatened attacks on Iranian energy infrastructure after “VERY GOOD AND PRODUCTIVE CONVERSATIONS” with Tehran.

    In the 15 minutes before the announcement, trading spiked as 6,200 Brent crude and West Texas intermediate oil contracts with a notational value of $580m were exchanged, according to Bloomberg data.

    The price of oil has fluctuated wildly since the start of the Iran war as it has responded to the conflict’s twists and turns. Iran’s closure of the Strait of Hormuz, a chokepoint for Middle Eastern oil and gas exports, has put additional pressure on prices.

    After Trump’s news on Monday, the price of Brent crude oil fell sharply from $112 a barrel to about $99 while West Texas intermediate fell from about $99 to $86, netting a small fortune for anyone who bet big on a price drop.

    At the same time, pretrading volume on the S&P 500 e-Mini, which trades on the future performance of the S&P 500, surged about 6:50 am (10:50 GMT) on the Chicago Mercantile Exchange.

    As an index of the 500 largest publicly traded companies in the US, the S&P 500 is regarded as a bellwether for the US economy and often responds to major news events, including Trump’s announcement.

    ‘Exploit information for profit’

    Unusual Whales, a platform that tracks unusual activity from large or influential investors known as “whales”, reported that one trade involved buying S&P 500 futures with a notational value of $1.5bn and selling oil futures with a value of $192m.

    “These orders were 4-6x larger than anything else at the time. The trader seemingly made huge gains,” Unusual Whales wrote in a post on X.

    Spikes were also seen on other futures markets like the DAX Index Futures and Euro Stoxx 50 Index and across the Nasdaq and Russell 2000 Indexes, according to Bloomberg.

    Observers said this kind of activity was highly unusual because it happened before the market opened on Monday and on a day without an anticipated news hook, such as the release of critical US economic data or a company earnings call.

    Independent commodities trader Peter Brandt told Al Jazeera that he found the timing of the trades suspicious among other large, recent “market-shaking announcements”.

    “I’ve traded long enough [five decades] to know, where there is smoke, there is usually fire,” Brandt said, adding that the trades were nevertheless legal because there is no law in the US against “this type of insider trading” of futures contracts for oil and the S&P 500.

    US economist and Nobel laureate Paul Krugman took a much harsher view, writing on Substack that there was an “obvious explanation” to Monday’s otherwise “baffling” trades.

    “Somebody close to Trump knew what he was about to do, and exploited that inside information to make huge, instant profits,” he wrote, arguing that it amounted to more than simple insider trading.

    “We have another word for situations in which people with access to confidential information regarding national security – such as plans to bomb or not to bomb another country – exploit that information for profit. That word is ‘treason’,” he wrote.

    The White House did not immediately respond to Al Jazeera’s request for comment, but a White House spokesperson told the Financial Times this week that it does not “tolerate any administration official illegally profiteering off of insider knowledge” and accusations of insider trading were “baseless and irresponsible reporting”.

    ‘Insider trading’

    Amid the growing scrutiny of recent trades on Iran-based news, members of the Democratic Party have called for more regulation of prediction sites like Polymarket.

    Democratic Senator Chris Murphy, who has accused officials in Trump’s Republican administration of “insider trading” on Iran war news, last week introduced the Banning Event Trading on Sensitive Operations and Federal Functions (BETS OFF) Act in Congress.

    The BETS OFF Act would prohibit platforms like Polymarket and its competitor Kalshi from allowing bets on “government actions, terrorism, war, assassination, and events where an individual knows or controls the outcome”.

    In the short term, both Polymarket and Kalshi moved to address questions of insider trading this week.

    Polymarket said on Monday that it had updated its rules to clarify that trading on stolen confidential information, illegal tips or by someone who could influence an outcome was prohibited as insider trading.

    Kalshi, which unlike Polymarket requires users to submit identification, said it was launching “new technological guardrails that pre-emptively block politicians, athletes, and other relevant people from trading in certain politics and sports markets”.

    Neither company immediately responded to Al Jazeera’s request for comment.

    Critics like Democratic Representative Alexandria Ocasio-Cortez said on Tuesday that the changes are not enough.

    “Just on the policy piece alone, there are SO many individuals – staff, advisers , consultants, cabinet secretaries, spouses, and more – that can trade on insider information. This is just a fig leaf to deflect from criticism. We need to do more,” she tweeted.

    Continue Reading

  • Stocks Rally and Oil Falls on Trump’s Peace Push: Markets Wrap

    Stocks Rally and Oil Falls on Trump’s Peace Push: Markets Wrap

    (Bloomberg) — Global stocks rallied, with Europe notching the first three-day advance since the Middle East war began, as the Trump administration stepped up efforts to bring the conflict to a close. Bonds gained. Brent crude fell below $99 a barrel.

    S&P 500 futures rose 0.9%, while indexes for Europe and Asia jumped more than 1.5%. Ten-year Treasury yields dropped four basis points to 4.31%. Gold and Bitcoin advanced. The dollar retreated.

    A 15-point peace proposal from the US fanned optimism among traders that President Donald Trump is serious about winding down the war that has upended energy markets around the world. Still, Iran has yet to comment on the proposal and so far kept up attacks on neighboring states, leaving some investors skeptical that a ceasefire will materialize.

    “There’s a rebound in risk appetite this morning, which makes sense given the newsflow, but for us this is no time to buy the rally,” said Christophe Boucher, chief investment officer at ABN Amro Investment Solutions. “One can actually feel the algos reacting to the ‘peace’, ‘negotiation’ and ‘ceasefire’ keywords.”

    In US pre-market trading, miners such as Newmont Corp. and Freeport-McMoRan Inc. were among the biggest gainers. Arm Holdings Plc jumped 12% on plans to generate about $15 billion annually within five years from chip sales.

    Meanwhile, equity strategists have been boosting their outlook for US profits. Earnings in the S&P 500 Index are expected to rise 20% in the next 12 months, data compiled by Morgan Stanley show. Historically, the reading was higher only when the economy emerged out of recessions.

    “This supports our stance that the probability remains low for this oil spike to end the business cycle,” wrote Mike Wilson, chief US equity strategist for Morgan Stanley.

    Bonds also rallied in today’s session, with yields on two-year German notes sliding seven basis points to 2.59%. European Central Bank President Christine Lagarde pushed back against expectations of an imminent response to higher energy prices, saying that the ECB could look through a limited, short-lived shock.

    What Bloomberg’s Strategists Say:

    “There should be a degree of skepticism around the commodity pullback, but it is also worth remembering that a return to pre-conflict optimism in European equities will be difficult if yields remain elevated.”

    — Skylar Montgomery Koning, macro strategist. For the full analysis, click here.

    Corporate News:

    SpaceX aims to file a prospectus for an initial public offering as soon as this week, the Information reported, kicking off one of the year’s most-anticipated market debuts. Merck & Co. agreed to buy Terns Pharmaceuticals Inc. in a deal valuing the drugmaker at $6.7 billion, bolstering the multinational company’s pipeline ahead of a key cancer treatment’s patents expiring. Pop Mart International Group Ltd. shares tumbled nearly 22% after the company posted full-year revenue growth still largely reliant on sales of Labubu, disappointing investors counting on other franchises to sustain its success. SK Hynix Inc. seeks to list its American Depositary Receipts in what may be one of the biggest US debuts by a foreign company ever, part of the chipmaker’s bid to keep pace with artificial intelligence’s voracious demand for memory. Some of the main moves in markets:

    Stocks

    S&P 500 futures rose 0.3% as of 8:06 a.m. New York time Nasdaq 100 futures rose 0.3% Futures on the Dow Jones Industrial Average rose 0.5% The Stoxx Europe 600 rose 1.6% The MSCI World Index rose 0.5% Currencies

    The Bloomberg Dollar Spot Index fell 0.1% The euro was unchanged at $1.1608 The British pound was little changed at $1.3420 The Japanese yen was little changed at 158.82 per dollar Cryptocurrencies

    Bitcoin rose 2.5% to $71,789.63 Ether rose 2% to $2,191.01 Bonds

    The yield on 10-year Treasuries declined five basis points to 4.31% Germany’s 10-year yield declined eight basis points to 2.94% Britain’s 10-year yield declined 12 basis points to 4.84% Commodities

    West Texas Intermediate crude fell 1.2% to $87.33 a barrel Spot gold rose 2.3% to $4,576.25 an ounce This story was produced with the assistance of Bloomberg Automation.

    –With assistance from Subrat Patnaik, James Hirai and Julien Ponthus.

    ©2026 Bloomberg L.P.

    Continue Reading

  • Airfares rise 20–30% as jet fuel costs surge, routes disrupted

    Airfares rise 20–30% as jet fuel costs surge, routes disrupted

    Airfares on domestic and international routes have increased as rising jet fuel prices and airspace disruptions linked to the Middle East conflict raise operating costs for airlines, according to a news report. 

    Aviation officials said fuel, which accounts for 30–40% of airline expenses, has become significantly more expensive, leading to fare increases of 20–30%. Domestic ticket prices have risen by Rs10,000 to Rs15,000, while international fares have increased by Rs30,000 to Rs40,000.

    Air travel to Europe has been affected by restricted airspace and rerouting through alternative corridors, increasing travel time and costs. Travel agents reported sharp fare increases on certain routes, with tickets that previously cost around Rs400,000 rising to as high as Rs1 million in recent weeks.

    Airlines have introduced fuel surcharges ranging between $10 and $100, although base fares have not been formally revised. Officials indicated that further increases may follow if global oil prices continue to rise.

    Flight operations have also been disrupted, with around 325 flights by Pakistani airlines cancelled since the start of the conflict, including approximately 200 by Pakistan International Airlines.

    PIA continues operations to Fujairah and Al-Ain, while flights to Kuwait, Qatar, Dubai and Bahrain remain suspended. Services to Saudi Arabia are operating as scheduled.

    Passenger traffic trends show higher volumes from Saudi Arabia and the UAE, while travel to Gulf destinations from Pakistan has declined. Travel to Europe continues, though passengers are incurring higher costs due to longer routes.

    Rising fuel costs have also affected aviation training, with increased expenses reported by flying schools and pilot training centres.

    Exporters have raised concerns over higher air cargo charges, with an additional Rs50 per kilogram imposed on shipments. Industry representatives said the increase could affect fruit and vegetable exports and lead to financial losses.


    Continue Reading

  • Investor Panic Triggers $20 Million Outflow from Pakistan Bonds in Single Day

    Investor Panic Triggers $20 Million Outflow from Pakistan Bonds in Single Day

    Pakistan’s domestic bond market has come under pressure as foreign investors pulled out $184.3 million during the first 13 days of March following escalating tensions in the Gulf.

    Data released by the State Bank of Pakistan shows that investor sentiment weakened sharply, with $20 million withdrawn from domestic bonds in a single day on March 13.

    The United Kingdom led outflows with $69.5 million, followed by Bahrain, the United States, Singapore, the UAE and Australia.

    In contrast, inflows remained limited at just $19.3 million, coming mainly from the UK and Bahrain, indicating a clear imbalance between investment and withdrawals during the period.

    Despite Pakistan not being directly involved in the conflict, the data suggests that global risk aversion has impacted local markets. However, the country has so far remained relatively stable in terms of exchange rate and oil-related shocks.

    Analysts warn that a prolonged conflict could intensify financial pressures, though remittance inflows have remained steady, suggesting overseas Pakistanis in the Gulf have not yet reacted significantly to the situation.


    Continue Reading

  • Govt considers optional multi-tariff ToU system for industries to cut electricity costs

    Govt considers optional multi-tariff ToU system for industries to cut electricity costs

    ISLAMABAD: In a major move to ease electricity costs and improve efficiency, the government is considering a new optional multi-tariff Time-of-Use system for industries, allowing consumers to optimize power usage and potentially lower their energy bills.

    According to the Power Division, under a special initiative led by Sardar Awais Ahmed Khan Leghari, the Division is actively working to introduce an optional tariff mechanism to facilitate industrial consumers while enhancing overall efficiency in electricity utilization. Several internal consultative and technical meetings have already been held to deliberate on the proposed framework.

    The new model will provide industrial consumers the flexibility to opt for a multi-slab tariff structure, where electricity pricing will be based on average marginal cost signals across different time-of-use periods. This approach is designed to reflect the actual cost of electricity supply during peak and off-peak hours, enabling more informed and efficient consumption decisions.

    Under the proposed structure, the tariff will include a fixed component determined on the basis of Maximum Demand Indicators, which is expected to be relatively higher in order to discourage excessive peak consumption. At the same time, the variable energy charges will be rationalised and aligned more closely with actual energy costs, making the pricing system more transparent and cost-reflective.

    Industry sources said that the mechanism will encourage industries to shift their operations towards lower-cost periods, resulting in improved load management and better utilization of the power system. Increased consumption during off-peak hours is expected to enhance the overall system load factor, while a reduction in peak demand will help ease pressure on the grid and reduce the need for expensive capacity additions.

    The initiative is also expected to support industrial productivity and competitiveness by offering more predictable and potentially lower electricity costs, making it a key step toward sustainable industrial growth and long-term economic development in Pakistan.

    Following the formulation of initial technical proposals, the minister has directed that the proposed regime be refined through extensive stakeholder consultations to ensure its inclusivity and effectiveness. In this regard, engagements will be held with industrial consumers, chambers of commerce, and trade bodies across the country, and their feedback will be incorporated into the final design of the mechanism.

    The first consultative conference on the proposed tariff system is scheduled to be held online on March 26, marking the start of a broader consultation process before the policy is finalised.


    Continue Reading