Business
SBP injects Rs4.25tr via OMOs | The Express Tribune
State Bank of Pakistan. Photo: File
KARACHI:
The State Bank of Pakistan (SBP) on Friday injected a total of Rs4.245 trillion into the financial system through reverse repo and Shariah-compliant Mudarabah-based open market operations (OMOs).
According to the central bank, the liquidity injection included Rs3.914 trillion through conventional reverse repo OMOs and Rs331 billion via Islamic Mudarabah-based operations. The OMO was conducted for seven-day and 14-day tenors.
For the seven-day reverse repo, the SBP received 18 bids totalling Rs3,643 billion at rates ranging between 11% and 11.07%, out of which 17 bids worth Rs3,642.5 billion were accepted at a rate of 11.01%. In the 14-day tenor, the central bank received 11 bids amounting to Rs272.5 billion, with accepted bids of Rs272 billion at a rate of 11.02%.
In its Shariah-compliant Mudarabah-based OMO, the SBP received four bids for the seven-day tenor, offering Rs331 billion at returns from 11.06% to 11.12%. The entire amount was accepted at 11.06%, while no bids were received for the 14-day Islamic tenor.
According to data released by the SBP, the rupee closed at Rs281.02 per dollar, gaining Rs0.01 from the previous day’s rate.
Meanwhile, gold prices in Pakistan continued their downward trajectory, mirroring trends in the international market, where the precious metal struggled to recover despite slightly softer-than-expected US inflation data that bolstered expectations of a Federal Reserve rate cut next week.
According to the rates issued by the All-Pakistan Gems and Jewellers Sarafa Association, the price of gold per tola fell by Rs2,000, settling at Rs431,862, while the price of 10 grams declined by Rs1,714 to Rs370,252.
The fall marks the first weekly loss in nearly 10 weeks as global investors adjusted their positions ahead of next week’s US monetary policy announcement.
On Thursday, the yellow metal had already recorded a sharp drop of Rs3,500 per tola, bringing local prices down from recent highs. The consistent downward pressure reflects international market sentiment, where gold has been trading in a narrow band after heavy profit-taking earlier in the week.
Business
SC permits Centre to review Rs 6,000cr additional dues on Vodafone-Idea – The Times of India
NEW DELHI: The Union govt on Monday convinced the Supreme Court to permit the department of telecom to review its demand of Rs 6,000 crore additional adjusted gross revenue demand for the FY 2016-17 on Vodafone-Idea. Chief Justice B R Gavai and Justice K Vinod Chandran was informed by solicitor general Tushar Mehta that since the previous round of litigation, in which Vodafone was ordered to pay the AGR dues, there had been a change of circumstance as the Centre has acquired a 49% stake in the company. Mehta said, “We do not want the company, in which the govt has a huge investment, to go bankrupt to make 20 crore people suffer. ‘Govt wants to prevent monopoly’ Govt wants more players in the mobile telecom sector to prevent monopoly,” said solicitor general Tushar Mehta. Vodafone through senior advocate Mukul Rohatgi had argued that the SC had frozen the AGR dues at Rs 58,254 crore as of 2016-17 and that the DoT cannot raise additional AGR dues in breach of the SC order. Govt had converted Rs 36,950 cr dues as its 49% equity in the telecom service provider.

The bench noticed the element of public interest in the case and permitted the Centre to take a fresh view of the additional AGR demands, especially when the issue is purely in the policy domain and involves the interests of 20 crore people. “We see no reason why the Centre should be prevented from taking a relook at the additional AGR dues,” the bench said.
Business
Electronics parts: 5,500cr projects get nod – The Times of India
NEW DELHI: Govt has approved seven projects worth Rs 5,532 crore, out of 249 proposals received under the Electronics Components Manufacturing Scheme, electronics and IT minister Ashwini Vaishnaw said on Monday. The minister said the production of electronics components from the approved projects is likely to reduce the import bill of around Rs 20,000 crore. “Seven plants under electronics components have been approved. In coming days, more projects will be approved. We expect these projects to reduce import bill by around Rs 20,000 crore,” Vaishnaw said. The minister said that proposals for the manufacturing of multi-layer printed circuit boards or motherboard base, camera modules, copper laminates, and polypropylene films (used in capacitors for consumer electronics) have been approved.
Business
OpenAI shares data on ChatGPT users with suicidal thoughts, psychosis
OpenAI has released new estimates of the number of ChatGPT users who exhibit possible signs of mental health emergencies, including mania, psychosis or suicidal thoughts.
The company said that around .07% of ChatGPT users active in a given week exhibited such signs, adding that its artificial intelligence (AI) chatbot recognizes and responds to these sensitive conversations.
While OpenAI maintains these cases are “extremely rare,” critics said even a small percentage may amount to hundreds of thousands of people, as ChatGPT recently reached 800 million weekly active users, per boss Sam Altman.
As scrutiny mounts, the company said it built a network of experts around the world to advise it.
Those experts include more than 170 psychiatrists, psychologists, and primary care physicians who have practiced in 60 countries, the company said.
They have devised a series of responses in ChatGPT to encourage users to seek help in the real world, according to OpenAI.
But the glimpse at the company’s data raised eyebrows among some mental health professionals.
“Even though .07% sounds like a small percentage, at a population level with hundreds of millions of users, that actually can be quite a few people,” said Dr. Jason Nagata, a professor who studies technology use among young adults at the University of California, San Francisco.
“AI can broaden access to mental health support, and in some ways support mental health, but we have to be aware of the limitations,” Dr. Nagata added.
The company also estimates .15% of ChatGPT users have conversations that include “explicit indicators of potential suicidal planning or intent.”
OpenAI said recent updates to its chatbot are designed to “respond safely and empathetically to potential signs of delusion or mania” and note “indirect signals of potential self-harm or suicide risk.”
ChatGPT has also been trained to reroute sensitive conversations “originating from other models to safer models” by opening in a new window.
In response to questions by the BBC on criticism about the numbers of people potentially affected, OpenAI said that this small percentage of users amounts to a meaningful amount of people and noted they are taking changes seriously.
The changes come as OpenAI faces mounting legal scrutiny over the way ChatGPT interacts with users.
In one of the most high-profile lawsuits recently filed against OpenAI, a California couple sued the company over the death of their teenage son alleging that ChatGPT encouraged him to take his own life in April.
The lawsuit was filed by the parents of 16-year-old Adam Raine and was the first legal action accusing OpenAI of wrongful death.
In a separate case, the suspect in a murder-suicide that took place in August in Greenwich, Connecticut posted hours of his conversations with ChatGPT, which appear to have fuelled the alleged perpetrator’s delusions.
More users struggle with AI psychosis as “chatbots create the illusion of reality,” said Professor Robin Feldman, Director of the AI Law & Innovation Institute at the University of California Law. “It is a powerful illusion.”
She said OpenAI deserved credit for “sharing statistics and for efforts to improve the problem” but added: “the company can put all kinds of warnings on the screen but a person who is mentally at risk may not be able to heed those warnings.”
-
Tech1 week agoHow to Protect Yourself Against Getting Locked Out of Your Cloud Accounts
-
Tech1 week agoThe DeltaForce 65 Brings Das Keyboard Into the Modern Keyboard Era—for Better or Worse
-
Business1 week agoGovernment vows to create 400,000 jobs in clean energy sector
-
Business1 week agoDiwali 2025: Gold & silver likely to consolidate next week; Here’s what analysts said – The Times of India
-
Tech1 week agoGemini in Google Home Keeps Mistaking My Dog for a Cat
-
Fashion1 week agoEgypt’s apparel exports rise 25% in H1, trims US market reliance
-
Fashion1 week agoReal UK GDP grows 0.3% QoQ in quarter to Aug 2025: ONS
-
Business1 week agoInflation expected to jump to highest since January last year
