Business
PSX rally continues, KSE-100 touches record high – SUCH TV
The upward momentum at the Pakistan Stock Exchange (PSX) continued on Tuesday, with the benchmark KSE-100 index climbing to fresh record levels amid strong investor interest and positive market sentiment.
On the second trading day of the week, the index rose by 399 points to reach 156,486 before further gains pushed it up by 533 points to a new all-time high of 156,621 during intra-day trading.
The surge followed Monday’s rally, when the index closed at 154,969 after adding 691 points.
Momentum carried through the session, lifting the benchmark by 1,274 and then 1,692 points to end the day at 155,969 its highest close at the time.
Market analysts said improved investor confidence and favourable business trends were driving the consistent rally.
The index had already crossed the 154,000-point mark at the end of last week, a level now surpassed by successive record gains this week.
Yesterday, Prime Minister Shehbaz Sharif expressed profound satisfaction over the PSX’s performance.
In a statement, the premier lauded the efforts of his economic team, emphasising that the landmark performance reflects the business community’s growing confidence in the government’s reform-driven economic policies.
“The PSX’s record performance showcases the resilience of our economy and the trust of investors in our forward-looking policies,” the PM remarked.
KTrade Securities wrote in its market wrap that the bourse continued the bullish momentum as the KSE-100 climbed 1,810 points to close at a new all-time high of 156,087.
Arif Habib Limited (AHL) Head of Research Sana Tawfik told that multiple factors were driving the bullish sentiment.
First of all, investor enthusiasm grew following news that the government was actively working to resolve the longstanding circular debt issue in the energy sector, a key challenge afflicting Pakistan’s economy.
JS Global analyst Mubashir Anis Naviwala commented that strong investor interest was seen in investment banking, power generation, exploration & production (E&P) and cement sectors.
Overall trading volumes increased to 1.13 billion shares compared to 1.08 billion in the previous session. Traded value stood at Rs62.3 billion.
Shares of 482 companies were traded. Of these, 229 stocks closed higher, 228 fell and 25 remained unchanged.
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.”
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