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Scams costing 33% more than $7b IMF loan | The Express Tribune

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Scams costing 33% more than b IMF loan | The Express Tribune


Global study finds Pakistan among top developing countries hit hardest by financial fraud with losses estimated at $9.


KARACHI:

Pakistan is among the top developing countries losing a large portion of its economy to financial scams, costing nearly 2.5% of its GDP, according to the Global State of Scams Report 2025 by the Global Anti-Scam Alliance and Feedzai.

Based on Pakistan’s current GDP, the 2.5% loss equals about $9.3 billion, 33% more than the country’s $7 billion International Monetary Fund (IMF) loan, highlighting the staggering scale of damage caused by fraud and digital scams.

The report, which surveyed 46,000 adults across 42 markets, revealed that seven in ten adults globally encountered scams in the past year, with 13% facing attempts daily. Pakistan ranked sixth among countries with the lowest average loss per victim, $139 per person, but the cumulative effect translates into billions in national losses. Globally, $442 billion was lost to scams in the last year alone. The most common were shopping scams (54%), investment scams (48%), and unexpected money scams (48%). Wire transfers (29%) and credit card payments (18%) were the main channels used by scammers.

“We need to differentiate between financial frauds and scams,” said Rehan Masood, Senior Joint Director, Cyber Risk Management at the State Bank of Pakistan (SBP). Speaking at a JazzCash–SBP awareness session for journalists, Masood said the central bank has strengthened its cybersecurity framework, making it nearly impossible to access accounts from unrecognised devices.

“No one can operate a bank account from an unknown device anymore. Even genuine customers must complete two-step verification and biometric checks,” he said. These measures, he added, have reduced misuse by 90% and could soon bring it near zero.

However, Masood noted most scams occur because customers share sensitive data such as PIN or verification codes. “This information is then used for unauthorised transactions or to trick victims into transferring money themselves,” he explained.

Digital frauds are rising as e-commerce and online payments grow. According to the report, Pakistan has become an easy target for scammers who exploit SMS, WhatsApp, and social media to lure users into fake investment schemes promising high returns. Victims often receive small profits first to gain trust before suffering major losses.

Online shopping scams are also spreading. Fraudsters pose as courier agents claiming a parcel needs verification and send fake links to steal card information. Others impersonate bank officials or police officers, urging victims to share PINs, OTPs, or passwords. Some send SMS messages warning of account suspension to extract details. Others pretend to be friends or relatives in emergencies.

Experts warn that vigilance is the only defence. Customers should never share banking details, PINs, or OTPs, and must verify all links before clicking. Banks never request such details over calls or messages.

Khayyam Siddiqi, Head of Corporate Communication at JazzCash, said protecting users is vital as Pakistan moves toward a cashless society. “Scam tactics evolve constantly, from phishing calls to fake wallet apps, so awareness is key. That’s why we’ve launched a nationwide campaign with SBP to educate users about scam techniques and safe practices,” he said.

The campaign is a joint effort of JazzCash, Mobilink Bank, and the Karachi School of Business & Leadership (KSBL), backed by the SBP, SECP, PTA, Karandaaz, GSMA, and the Pakistan Bankers Association. It marks a major step toward collective consumer protection and digital financial literacy in Pakistan.



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Industrial leasing boom: India’s top 8 cities see 28% rise; Delhi-NCR leads with 11.7 million sq ft – The Times of India

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Industrial leasing boom: India’s top 8 cities see 28% rise; Delhi-NCR leads with 11.7 million sq ft – The Times of India


Leasing of industrial and warehousing spaces across India’s eight major cities surged 28 per cent to a record 37 million sq ft during January-September 2025, driven by robust demand in Delhi-NCR, according to real estate consultancy CBRE. In comparison, total leasing across these top cities—including Delhi-NCR, Bengaluru, Mumbai, Hyderabad, Chennai, Pune, Kolkata, and Ahmedabad—stood at 28.8 million sq ft in the same period of 2024.As per news agency PTI, CBRE’s latest ‘India Market Monitor Q3 2025 – Industrial & Logistics’ report highlighted that Delhi-NCR accounted for the largest share of leasing activity at 11.7 million sq ft, followed by Bengaluru at 5.7 million sq ft and Hyderabad at 4.6 million sq ft.

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Collectively, these three cities contributed 59 per cent of total space take-up. Mumbai and Kolkata registered leasing of 4.2 million sq ft and 3.8 million sq ft, respectively.Anshuman Magazine, chairman & CEO – India, South-East Asia, Middle East & Africa at CBRE, said, “The demand is largely led by the expansion of Third-Party Logistics (3PL) providers and the accelerated deployment of quick commerce. Companies are increasingly focused on supply chain optimisation and resilience, driving a mandate for sophisticated, high-specification Grade A assets that support automation and reduce last-mile friction.”As per PTI, Ram Chandnani, managing director, advisory & transaction services, India at CBRE, added that this momentum is expected to continue as businesses focus on optimising supply chains and expanding their footprints.During the January-September period, new supply reached 23.8 million sq ft, with institutional investor-backed developers continuing to expand. Bengaluru, Chennai, and Mumbai together accounted for 62 per cent of the total new supply in the first nine months of the year, the report noted.





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Coca-Cola tops earnings and revenue estimates but says demand for drinks is still soft

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Coca-Cola tops earnings and revenue estimates but says demand for drinks is still soft


Sina Schuldt | Picture Alliance | Getty Images

Coca-Cola reported its fiscal third-quarter earnings before the bell on Tuesday.

Here’s what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:

  • Adjusted earnings per share: 82 cents adjusted vs. 78 cents expected
  • Adjusted revenue: $12.41 billion adjusted vs. $12.39 billion expected



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Lights, camera, investment: From buying movies to co-owning it – Hollywood pushes into Indian cinema – The Times of India

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Lights, camera, investment: From buying movies to co-owning it – Hollywood pushes into Indian cinema – The Times of India


Foreign studios are stepping up their game in India’s entertainment market as cinema revenues recover and streaming platforms grow. According to industry insiders, this marks Hollywood’s “second wave” in the country, with global players now moving beyond just distributing films to actively producing and co-owning Indian-language projects.Amazon MGM Studios has announced plans to release three to four Indian films in theatres each year from 2026, before they appear on Prime Video.

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“While our core business is streaming, we believe in the theatrical window and the magic of theatres,” said Nikhil Madhok, head of originals at Prime Video India and Amazon MGM Studios. “Depending on the kind of film that we are producing, we take a joint call with our creators in terms of which project can go to theatres first,” he further told ET.Warner Bros. Pictures is teaming up with Bhanushali Studios and JOAT Films in a five film deal, to develop Indian adaptations of classic Warner titles. Under the agreement, Warner will provide intellectual property and global distribution support, while the Indian studios will lead creative and production decisions.Meanwhile, Universal Studios, part of Comcast, is reportedly planning an indoor theme park near Delhi. The studio has also held early discussions with Excel Entertainment, founded by Farhan Akhtar and Ritesh Sidhwani, about a potential partnership, though nothing has been finalised.“Global studios are renewing their focus on Indian cinema, moving from distribution to local production,” Nitin Menon, managing partner at NV Capital told ET. “Amazon MGM’s Superboys of Malegaon, Nishaanchi and Mirzapur mark a shift toward theatrical storytelling. Warner Bros.’ partnership, coinciding with Paramount’s potential acquisition, could unlock capital for deeper expansion. Universal may follow with co-productions as Hollywood recalibrates its India playbook. Theatres are back in focus, though Netflix remains committed to digital-only releases.According to Ormax, India’s box office collections for 2025 have reached ₹9,409 crore as of September, up 18% from last year. The country also has 601 million OTT users, including 148 million paying subscribers.After pandemic lows, multiplex attendance and ticket sales are rising across languages. Streaming continues to grow, creating a twofold revenue model for films: theatrical runs plus digital licensing. For studios, local productions also allow them to create intellectual property that can generate music, merchandising, and streaming revenue globally.“Hollywood’s second wave in India is about reducing risk, not planting flags,” said Adi Tiwary, a Sydney-based producer. Tiwary further told ET, “The trend is to build with Indian partners, use library IP to de-risk, and let theatrical and streaming work in tandem. Hollywood has learned that India rewards local muscle and disciplined windowing.”Neeraj Vyas, CEO of Bhanushali Studios, added, “They’re re-entering cautiously, focusing on mid-budget, locally rooted films rather than big productions. With cost rationalisation underway in the US, it’s about testing the waters and understanding audience shifts.”10 years ago, Hollywood studios largely operated in India through distribution deals, buying completed films for high guarantees. However, today global players are co-developing stories and co-owning intellectual property, aiming to build franchises that can be marketed worldwide.“The foreign studio model has matured from buying content to co-owning it,” said Suniel Wadhwa, co-founder of Karmic Films.





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