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Trump Media charges traders up to $100,000 monthly…

ByJustpaste.in

More than ten firms have signed on to pay for Trump Media’s newly launched service that grants faster access to market moving posts published on its Truth Social platform, the company disclosed during an earnings call this week.

The service, called Truth API, went live at the start of August and gives Wall Street traders early visibility into posts from the platform’s most influential accounts before the general public sees them. Interim chief executive Kevin McGurn said the earliest subscribers are largely high frequency trading firms, which pay between $60,000 and $100,000 a month for the access. McGurn detailed the pricing during a call held after Trump Media reported a net loss of $238 million for the April through June quarter, a figure more than ten times larger than the loss the company posted during the same period a year earlier.

The steep quarterly loss comes as Trump Media and Technology Group has expanded into ventures far removed from its original media business, including cryptocurrency holdings. Despite still operating at a loss overall, the company says it intends to refocus on its core social media mission going forward. In July, the firm unveiled plans to offer Wall Street firms and institutional investors expedited access to posts on Truth Social, a platform where President Trump regularly shares public announcements. Critics have described the arrangement as a potential edge for subscribers looking to trade stocks and other actively traded assets ahead of market moving news.

The initiative has also raised legal and ethical questions, particularly around the fact that a company in which the president’s family holds a majority stake could financially benefit from his own public statements reaching paying subscribers faster than the general public.

In its earnings statement released Monday, Trump Media described the new offering as a service expected to generate a new revenue stream for the company. McGurn said executives believe the product will grow into a meaningful and durable source of income alongside the company’s broader media strategy, which already includes advertising and digital asset ventures. He added that Truth Media is also exploring potential partnerships with technology companies, news organizations and betting markets.

The company reported revenue of $1.7 million for the quarter, an 89 percent increase compared with the same period last year, though the overall loss stemmed largely from declining cryptocurrency values. Trump Media said it closed the quarter holding total assets of $2 billion, including roughly $1.9 billion in financial assets made up of cash, short term investments and digital currencies. The firm continues to expand into new territory, including additional cryptocurrency holdings and clean energy investments.

Markus Thielen, an analyst at 10x Research, described Trump Media as functioning more like a crypto holdings firm wrapped around a media company, noting that the bulk of its recent losses trace back to that crypto focused strategy. He said the company is working to diversify beyond its digital asset exposure into areas like social media services, though those newer ventures have not yet produced significant revenue. Earlier this month, Trump Media abandoned a planned partnership with Crypto.com that would have introduced prediction market features on the Truth Social platform.

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    Asif signals possible US-Iran deal amid Hormuz talks

    ByJustpaste.in

    ISLAMABAD: Defence Minister Khawaja Asif has said the United States and Iran may be moving closer to an agreement as diplomatic efforts continue to resolve the conflict and ease restrictions around the Strait of Hormuz. Speaking to Bloomberg, Asif said recent developments had created renewed hopes for a possible peace arrangement. He said signals over the past two to three days suggested that Washington and Tehran were approaching “some sort of an arrangement.” His comments came as Qatar said separate discussions between Oman and Iran regarding the management of the Strait of Hormuz had reached an advanced stage. The waterway remains at the centre of the crisis. It is a major route for global energy supplies, with a significant share of the world’s oil and liquefied natural gas shipments passing through it. Pakistan and Qatar have been involved in diplomatic efforts aimed at reducing tensions between Iran and the United States. Pakistan has continued contacts with Iranian officials as part of these mediation efforts. On Tuesday, Iranian Foreign Minister Abbas Araghchi met Pakistan’s Interior Minister Mohsin Naqvi in Tehran. Details of their discussion were not immediately disclosed, but the meeting came amid renewed diplomatic activity over the conflict. Iran has previously said it was working with Oman on arrangements for shipping through the Strait of Hormuz. Tehran has maintained that reopening the waterway fully would depend on the United States meeting several conditions. Those demands include compensation, an easing of sanctions and guarantees against further military action, according to Iranian officials. Araghchi has said Iran and the US are not holding direct negotiations. Messages are instead being exchanged through intermediaries. US President Donald Trump has also raised the issue of compensation. He said Washington would seek payments from Iran for damage and casualties allegedly caused over several decades. Despite the diplomatic activity, tensions remain high in regional waters. Four crew members were reportedly killed in a suspected attack on a cargo vessel near the Bab el-Mandeb Strait. The incident was blamed on Houthi forces, although the group had not immediately claimed responsibility. A separate container ship was also reportedly struck while sailing through the Gulf of Oman near Pakistan. Initial reports indicated that the incident may have involved US military action. The developments have increased concerns over the safety of commercial shipping in the region. Oil prices also remained elevated because of uncertainty surrounding the Strait of Hormuz. Prices eased on Tuesday after reaching a one-week high earlier in the session as investors responded to signs of possible diplomatic progress. The crisis has placed pressure on Washington and Tehran to find a political solution. Any agreement that reduces tensions and restores normal shipping through Hormuz could have a major impact on global energy markets.

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    Rahat Fateh Ali Khan pays tribute to Nusrat Fateh Ali Khan

    ByJustpaste.in

    Rahat Fateh Ali Khan has paid tribute to his legendary uncle and mentor, Nusrat Fateh Ali Khan, on his death anniversary, remembering one of the most influential voices in the history of Qawwali. Although Nusrat passed away nearly three decades ago, his music continues to live on and remains deeply cherished by fans around the world. To mark the occasion, Rahat Fateh Ali Khan visited the mazar of Nusrat Fateh Ali Khan along with his son, Shahzaman Ali Khan. The father-and-son duo performed a Qawwali kalam at the legendary singer’s grave in the presence of a large crowd. Videos from the gathering quickly circulated on social media, showing Rahat performing at the grave site while spectators surrounded the area. During the performance, currency notes were also seen being thrown into the air, a traditional gesture sometimes associated with musical performances and expressions of appreciation. However, the scenes sparked a strong reaction online. Several fans and social media users questioned whether such a performance was appropriate at the grave of a legendary artist. While some viewed the gathering as an emotional tribute to Nusrat Fateh Ali Khan, others felt that the atmosphere and manner of celebration lacked the respect they believed should be shown at a grave. As the videos spread across social media platforms, users expressed their disappointment in the comments. One person criticized the scene, writing, “There is no respect for grave.” Another user questioned Rahat’s condition and commented, “Looks like he is drunk again.” A third reaction was more emotional, saying, “Astaghfirullah what the hell.” The controversy has once again highlighted the intense public interest surrounding Nusrat Fateh Ali Khan and his musical legacy. Known internationally for taking Qawwali to audiences far beyond South Asia, Nusrat remains an iconic figure whose songs and spiritual performances continue to influence generations of musicians. Rahat Fateh Ali Khan, who learned the art of Qawwali within the same musical tradition, has frequently spoken through his work about the influence Nusrat had on his career. His tribute on the death anniversary was intended to honour that enduring legacy, although the viral videos have prompted debate over how the occasion was marked. Despite the criticism, Nusrat Fateh Ali Khan’s influence remains firmly established, with fans continuing to remember his extraordinary contribution to Qawwali decades after his passing.

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    Kabaddi player’s wife dies in suspected suicide

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    HARYANA: Muskan, the 23-year-old wife of international Indian kabaddi player Shailu Ballhara, was found dead at her residence in the Indian state of Haryana in what police believe to be a suspected suicide, according to Indian media reports. The incident reportedly took place on Friday afternoon. Family members informed the police after discovering her unconscious at the house. Law enforcement officials, along with a forensic team, reached the scene soon afterward and began collecting evidence. Police have launched an investigation to determine the circumstances surrounding the death. Officials said the exact cause behind the suspected suicide has not yet been established, and investigators are examining all possible aspects of the case. According to Muskan’s family, she married Shailu Ballhara in December 2023. The couple welcomed their son, Hardik, in November 2025. Relatives said the family had been living together following the birth of their child. Investigators are also reviewing Muskan’s recent social media activity. Indian media reported that a day before her death, she shared a video featuring a sad Punjabi song, which has become part of the ongoing investigation. However, police have not confirmed whether the post was linked to the incident. Officials said statements from family members and other individuals are being recorded, while forensic evidence collected from the residence is being examined. Authorities added that no conclusions will be drawn until the investigation is complete.

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    Canada announces retaliatory tariffs as trade talks with US collapse

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    OTTAWA: Canada has announced plans to impose new tariffs on a range of American products in response to steep duties introduced by US President Donald Trump on Canadian goods, marking another sharp deterioration in trade relations between the two North American neighbours. Prime Minister Mark Carney said on Saturday that Canada would adopt a “dollar-for-dollar” approach to Washington’s latest tariffs. The retaliatory measures are scheduled to take effect on September 8 and will cover products including US steel, electronics, appliances, agricultural equipment, pulp and paper and other goods. The announcement came after three days of intensive negotiations between Canadian and US officials ended without a trade agreement. Both sides blamed the other for the failure to reach a breakthrough, raising fresh uncertainty over the future of the United States-Mexico-Canada trade framework. Carney vows to defend Canadian economy Speaking at a press conference in Ottawa, Carney said Canada would respond to the US measures in an effort to shield workers, farmers, businesses and families from the economic impact of the new duties. “Canada will match Washington’s new tariffs dollar for dollar,” Carney said, stressing that Ottawa could not accept the conditions put forward by the US administration. Asked whether the dispute had effectively developed into a trade war, Carney responded in stark terms, saying Canada had been attacked and therefore had to defend its economic interests. The Canadian government said its countermeasures would target a broad selection of US products. Further details, including the specific goods affected and the tariff rates, are expected to be announced in the coming days. Carney also indicated that Ottawa would introduce support programmes for Canadian industries affected by the American duties. The assistance could remain in place for several years depending on the impact of the trade measures. US-Canada negotiations break down The latest dispute follows the collapse of negotiations that had been viewed as an opportunity to prevent a further escalation in tariffs. US Trade Representative Jamieson Greer described the failed talks as a missed opportunity for Canada and said Washington would proceed with measures responding to Canadian retaliation. He also suggested that no fresh negotiations were immediately planned. The White House and offices representing the US commerce secretary and trade representative did not immediately issue a detailed response to Canada’s announcement. The breakdown has created additional uncertainty for businesses operating across the US-Canada border, particularly industries that depend heavily on integrated North American supply chains. New US duties affect key Canadian exports The latest US tariffs apply to a range of Canadian exports, including wine, furniture, dairy products, cement, clothing, fishing equipment and hockey-related products. According to the Canadian government, the new duties affect approximately $20 billion worth of Canadian exports to the United States. Unlike some previous measures, the latest tariffs do not fully exempt products traded under the existing North American trade agreement. The new duties represent a relatively small share of Canada’s overall exports to the US, but officials and industry representatives warn that individual sectors could face significant pressure. Industries such as softwood lumber, wine, manufacturing and other export-oriented businesses could experience weaker demand, higher costs and potential employment losses if the dispute continues. Candace Laing, chief executive of the Canadian Chamber of Commerce, urged companies across the country to prepare for a prolonged period of uncertainty. Dispute over vehicles and trade conditions One of the most difficult issues during the negotiations involved the treatment of larger vehicles. Canadian negotiators reportedly sought to extend preferential tariff arrangements for light-duty vehicles to medium- and heavy-duty trucks. Washington opposed the proposal, according to people familiar with the negotiations. Carney said the US position could have placed Canadian-made models at a competitive disadvantage. He specifically pointed to vehicles produced in Canada, including Ford’s F-350, F-450 and F-550 trucks and General Motors’ Silverado. The Canadian prime minister also said some US proposals touched on issues involving Canadian culture, language and sovereignty, although he did not provide further details. Ontario backs Ottawa’s position Ontario Premier Doug Ford, a prominent critic of US tariffs, welcomed Carney’s decision to reject what he described as an unfavourable agreement. Ford said the proposed terms would have harmed Ontario’s automotive, steel and manufacturing industries, adding that he supported Ottawa’s decision to retaliate rather than accept a deal that he considered damaging to the province. Ontario is particularly exposed to disruptions in US-Canada trade because of its large manufacturing and automotive sectors and its close integration with American supply chains. Canada seeks new international partnerships The escalating dispute also comes as Canada seeks to reduce its economic dependence on the United States. Nearly 70% of Canadian exports are destined for the US market, making the country particularly vulnerable to changes in American trade policy. Carney has nevertheless pledged to strengthen Canada’s relationships with other countries and explore new trade and security partnerships. The prime minister was elected on a platform that included a tougher negotiating stance toward the Trump administration. His government has maintained that Canada should defend its economic interests while looking for opportunities to expand trade beyond its southern neighbour. Public opinion has also strengthened Ottawa’s position, with polling indicating that many Canadians oppose making major concessions to Washington. Conservative Party leader Pierre Poilievre, who leads the federal opposition, also called for national unity in response to the US tariffs.

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    South Korea’s Bankware Global secures Rs1.57 billion Pakistan Post Contract

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    ISLAMABAD: South Korean core banking and financial technology company Bankware Global has secured a contract worth 7.98 billion South Korean won, equivalent to approximately Rs1.57 billion, to develop a banking and financial services system and provide software for Pakistan Post Office Department (PPOD). The Seoul-based technology company disclosed the development in a notice submitted to the Korea Exchange on Tuesday, marking a significant expansion of its presence in Pakistan’s financial technology and public-sector digitalisation market. According to the company, the project will be implemented from August 7, 2026, to March 6, 2028. The value of the contract represents around 12.6% of Bankware Global’s total sales recorded during 2025. The company said the project would be executed through a joint venture, with the arrangement covering the development and supply of the required technology infrastructure and software solutions for the Pakistan Post Office Department. Bankware Global also outlined the payment mechanism for the project. Under the agreed terms, 20% of the contract amount will be paid upfront, while the remaining 80% will be released in phases. Subsequent payments will be linked to project implementation, sector-wise inspection and the commencement of operations and maintenance services. Pakistan Post seeks digital transformation The contract comes as Pakistan Post continues efforts to modernise its operations and introduce greater use of digital technologies across its extensive network. The Pakistan Post Office Department is one of the country’s largest public-sector service networks, with approximately 13,000 post offices operating across Pakistan. Besides traditional postal services, the department provides a range of financial and public services, including domestic and international mail, remittance facilities, utility bill collection and selected identity-related services such as CNIC renewals. With the growing demand for faster and technology-driven financial services, Pakistan Post has been seeking to upgrade its systems and integrate modern digital platforms into its operations. The introduction of a modern core banking and financial technology system is expected to support more efficient processing, improve service delivery and strengthen the department’s ability to manage financial transactions through its widespread network. Bankware Global expands international footprint Bankware Global has been operating in the financial technology sector for more than 17 years. The South Korean company specialises in core banking platforms and other technology solutions designed for financial institutions. Its portfolio includes component-based and cloud-native core banking systems, financial enterprise resource planning (ERP) solutions, card-processing platforms and software-as-a-service (SaaS) banking products. The company has supplied technology solutions to financial institutions in several Asian markets, positioning it as a regional player in the digital banking and fintech sector. The Pakistan Post project is expected to further strengthen Bankware Global’s international business portfolio while providing the company with an opportunity to participate in Pakistan’s ongoing digital transformation efforts. For Pakistan Post, the project could represent an important step toward upgrading its technological infrastructure and improving the delivery of financial and public services through its nationwide network. The contract will remain in force until March 6, 2028, with implementation and payments scheduled according to the agreed project milestones.

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    Mir Raza allegedly kidnapped and tortured for 12 h…

    ByJustpaste.in

    KARACHI: The investigation into the death of young businessman Mir Raza has taken a new turn after his family’s lawyer, Jibran Nasir, claimed that the victim was allegedly abducted and tortured for around 12 hours before he was killed. Speaking at a press conference alongside Mir Raza’s parents at their residence, Nasir said information gathered during the investigation had raised serious questions about the circumstances surrounding the businessman’s death. According to the lawyer, CCTV footage showing Mir Raza emerged on July 28, while his body was recovered the following day. Nasir said a chemical analysis report from the University of Karachi found evidence of acid on the victim’s clothing, along with what he described as a bullet mark from the rear side of the shirt. Nasir further claimed that the condition of Mir Raza’s face was not simply the result of decomposition but may have been caused by acid. He also alleged that the victim was given a local anesthetic or another substance that caused him to become unconscious. The lawyer said the body appeared to have been dead for approximately 20 to 22 hours when it was recovered. Based on that estimated timeline, he argued that Mir Raza may have remained in captivity for around 12 hours before his death. Nasir alleged that the businessman was abducted during that period and subjected to torture. These claims have not yet been independently established and remain part of the allegations surrounding the investigation. The lawyer also raised questions about Mir Raza’s digital devices and financial activity. He claimed that someone had accessed the victim’s phone and emptied a cryptocurrency account, allegedly in an attempt to create an impression that Mir Raza had been facing financial difficulties or was in debt. Nasir further questioned the handling of key evidence, claiming that the station house officer was carrying the digital video recorder (DVR), while Mir Raza’s smartwatch and mobile phone were reportedly in the possession of other individuals. The allegations have intensified scrutiny of the investigation as Mir Raza’s family seeks answers about his final hours and the circumstances leading to his death. Investigators are expected to examine CCTV recordings, forensic reports, digital devices, financial transactions and other evidence to establish a detailed timeline. Police have yet to publicly establish the full circumstances of Mir Raza’s death or identify those responsible. The allegations made by his family’s lawyer will need to be verified through forensic evidence and the ongoing investigation.

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