Business
Pakistan’s GDP growth expected to stay at 3% – SUCH TV
Pakistan’s GDP growth is projected to remain at 3% in fiscal year 2025–26 before rising to 3.4% in fiscal year 2026–27, driven by a recovery in agricultural production and reconstruction efforts following a series of floods in 2025, the World Bank said.
However, Pakistan’s current account deficit is expected to widen in fiscal year 2026-27, with a rise in import demand, alongside the strengthening growth, and post-flood normalisation of remittance inflows, the Bank stated in its latest report on Global Economic Prospects.
The Bank has also warned that in several oil importers, particularly Pakistan and Tunisia, further increases in US tariffs could lead to notable declines in exports.
In addition, economies with a more concentrated export destination structure would be more vulnerable to trade-related shocks.
The report further stated that in Morocco and Pakistan, the implementation of deeper-than-anticipated regulatory reforms to promote private sector activity could boost growth, reduce informality, and create jobs.
In Pakistan, a relaxation of import restrictions and an expansion of bank credit, stemming partly from easing financial conditions, have contributed to the strengthening of activity, particularly in the industrial sector.
Among oil importers, current account balances have improved in Morocco, Pakistan, and Tunisia, partly because of increases in remittances and tourism revenues, it added.
Among oil importers, inflation has declined, particularly on account of softening food prices.
This has led to multiple policy rate cuts, including in Pakistan, though monetary policies have still remained restrictive to tame inflation in several economies, the Bank added.
The report noted that the global economy is proving more resilient than anticipated despite persistent trade tensions and policy uncertainty.
Global growth is projected to remain broadly steady over the next two years, easing to 2.6% in 2026 before rising to 2.7% in 2027, an upward revision from the June forecast.
The resilience reflects better-than-expected growth—especially in the United States, which accounts for about two-thirds of the upward revision to the forecast in 2026.
Even so, if these forecasts hold, the 2020s are on track to be the weakest decade for global growth since the 1960s.
The sluggish pace is widening the gap in living standards across the world, the report finds, at the end of 2025, nearly all advanced economies enjoyed per capita incomes exceeding their 2019 levels, but about one in four developing economies had lower per capita incomes.
In 2025, growth was supported by a surge in trade ahead of policy changes and swift readjustments in global supply chains.
These boosts are expected to fade in 2026 as trade and domestic demand soften.
However, the easing global financial conditions and fiscal expansion in several large economies should help cushion the slowdown, according to the report.
Global inflation is projected to edge down to 2.6% in 2026, reflecting softer labour markets and lower energy prices.
Growth is expected to pick up in 2027 as trade flows adjust and policy uncertainty diminishes.
Business
Finance ministers and top bankers raise serious concerns about Mythos AI model
Experts say Mythos potentially has an unprecedented ability to identify and exploit cybersecurity weaknesses.
Source link
Business
Anthropic’s new AI model exposes fresh risks, flaws for cybersecurity, IT services – The Times of India
New Delhi: A powerful new AI model is forcing govts, banks, and technology firms to rethink the rules of cybersecurity – and in India, the stakes may be even higher.Claude Mythos, developed by Anthropic, has demonstrated the ability to autonomously detect and exploit software vulnerabilities, including flaws that have persisted for decades. Early tests revealed that the model could identify long-standing weaknesses and simulate complex, multi-step cyberattacks, prompting the company to restrict its wider release. Anthropic CEO Dario Amodei highlighted the shift, noting that AI systems are now capable of finding vulnerabilities “that humans have missed”, a signal of how quickly the cybersecurity landscape is changing.US Treasury Secretary Scott Bessent reportedly convened a meeting with top bank executives – including leaders from JPMorgan Chase, Goldman Sachs, Citigroup, BoA, and Morgan Stanley – to assess the risks posed by such advanced AI systems.That concern is not theoretical. According to Jaydeep Singh, GM for India at Kaspersky, the emergence of such systems represents a turning point not just for security professionals, but for everyday users. “We have been closely monitoring how AI is reshaping the threat landscape, and Claude Mythos represents a moment that every user, not just the cybersecurity industry, needs to understand,” Singh said.The dual-use nature of AI is at the heart of the concern. The same capability that strengthens defences can just as easily be weaponised. “The same capability that finds a 27-year-old vulnerability in hardened infrastructure is the capability that, in the wrong hands, turns every unpatched system into an open door,” Singh added.Cybersecurity firm Check Point Software Technologies echoed the warning. Sundar Balasubramanian, MD, India and South Asia, for Check Point, says, AI is “dramatically lowering the barrier to entry for cyber attackers,” enabling even less-skilled actors to identify and exploit vulnerabilities. He added that defensive tools can be repurposed offensively, compressing the traditional gap between attackers and defenders. Jayant Saran, partner, Deloitte India, described this as a “changed reality,” where organisations must prepare for risks that were previously invisible. He called AI a “double-edged sword…that cannot be reversed,” highlighting an accelerating race between those securing systems and those attempting to break them.In India, the risks are amplified by scale. From UPI to banking and govt platforms, millions depend on digital infrastructure – much of it built on legacy systems. These systems are often slower to patch, harder to monitor, and lack continuous threat intelligence, creating what Saran called an “asymmetric risk exposure.” Singh pointed out that this gap is especially critical in India, where legacy infrastructure serves hundreds of millions.Beyond cybersecurity, ripple effects could reach financial markets. Analysts say models like Mythos could automate parts of software development, testing, and security – core functions of IT services industry. While disruption may be gradual, labour-intensive outsourcing models could face pressure, while firms embracing AI may benefit.
Business
Could a digital twin make you into a ‘superworker’?
Firms say digital twins make staff more productive, but are they a potential legal minefield?
Source link
-
Entertainment1 week agoQueen Elizabeth II emotional message for Archie, Lilibet sparks speculation
-
Tech1 week agoAzure customers up in arms over ‘full’ UK South region | Computer Weekly
-
Tech1 week agoAs the Strait of Hormuz Reopens, Global Shipping Will Take Months to Recover
-
Fashion1 week agoCII submits 20-pt agenda to Indian govt to back firms hit by Iran war
-
Tech1 week agoThis AI Button Wearable From Ex-Apple Engineers Looks Like an iPod Shuffle
-
Politics7 days agoIndian airlines hit hardest after Dubai limits foreign flights until May 31
-
Entertainment4 days agoPalace left in shock as Prince William cancels grand ceremony
-
Uncategorized1 week ago
[CinePlex360] Please moderate: “Trump considers
