South Korea has unveiled an investment plan worth at least $880 billion to expand its semiconductor and artificial intelligence industries. New chip production hubs, AI data centres, and robotics technology will be developed under the country’s Three Mega Projects. However, concerns have been raised by investors over massive AI spending, and technology shares have been pressured in recent trading sessions.

British American Tobacco (BAT) has announced that nearly one-fifth of its global workforce will be reduced as part of a major cost-cutting programme. Around 5,500 jobs will be eliminated, while 3,500 roles will be outsourced. Annual savings of approximately £600 million are expected to be achieved by 2028 as the tobacco giant restructures its global operations.

The Pakistani rupee was marginally strengthened against the US dollar in the inter-bank market on Monday, appreciating 0.01% to close at Rs278.17, gaining Re0.03. Meanwhile, the Dollar Index edged up to 101.36, while the euro remained at $1.1387. Global currencies remained under pressure as the Australian dollar fell 4.1%, the New Zealand dollar declined 5.9% for the month, and the Japanese yen hovered near a 40-year low.