Business live: stock markets rise on trade truce and chip deal
• Nvidia and AMD agree deal with Trump to keep China's market open
Bloomberg reported that the guidance from Chinese authorities also affects AI accelerators from Advanced Micro Devices (AMD). Apparently, Beijing is worried that Nvidia chips could have location-tracking and remote shutdown capabilities. It would prefer to use chips make by Chinese companies to reduce reliance on the West.
The move makes it harder for Nvidia to recoup revenue lost from the recent restrictions on chip sales.
Asian stock markets rose after Washington and Beijing extended a trade truce and technology shares were bolstered by President Trump's deal to allow US chipmakers to sell to China.
Japan's Nikkei 225 index rose to a record, with technology investor Softbank also rising to a new high. However, Chinese stock markets were mixed: the SSE Composite gained, but Hong Kong's Hang Seng fell.
• Trump extends deadline for higher tariffs on China by 90 days
Australia's ASX 200 was also trading near a record high hit earlier in the day ahead of a widely expected quarter-point interest rate cut from the Reserve Bank of Australia.
Markets in Europe are expected to open higher, with the FTSE 100 forecast to rise 13 points. However, doubts are growing about whether Trump's talks with Putin will resolve the war in Ukraine.
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Pakistan's financial sector is in the middle of a transformation — one that is changing how money moves, how businesses operate, and how people interact with the economy. At the heart of this transformation is Raast, the State Bank of Pakistan's (SBP) instant, low-cost, and secure digital payment system. Launched with the goal of improving financial inclusion and reducing reliance on cash, Raast is not just a payment method; it's a game-changer for the country's digital economy. From street vendors to freelancers, from small retail shops to large corporations, and from government institutions to ordinary citizens — Raast is making transactions faster, cheaper, and more transparent. In this article, we'll explore what Raast is, how it works, its adoption trends, the explosive growth in transaction volumes, and how it is reshaping Pakistan's digital economy. What is Raast? Raast — meaning 'direct' or 'straight path' in Urdu — is Pakistan's first real-time payment system designed to provide instant, low-cost, and secure money transfers between individuals, businesses, and government entities. Unlike traditional bank transfers that can take hours (or even days), Raast processes payments in seconds, 24/7, across all participating banks and digital wallets. Key Features of Raast Instant transfers — Payments clear in real time, any time of day. Low or zero fees — Most banks offer Raast transfers free of charge. Mobile number–based transfers — Send and receive money without sharing long account numbers. Secure SBP infrastructure — Fully regulated and backed by the central bank. Supports bulk payments — Ideal for salaries, pensions, and government subsidies. Raast's Role in Pakistan's Digital Transformation Before Raast, Pakistan's payment systems were fragmented, with slow transfers and limited interoperability between banks. 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