PSX to Separate its Core Exchange Operations and Real Estate Assets

PSX to Separate its Core Exchange Operations and Real Estate Assets 

The Pakistan Stock Exchange (PSX) is moving forward with plans to separate its core exchange operations and real estate assets under its management to improve management and earnings from both businesses. In a recent notification, PSX announced that its board of directors has authorised the demerger into two separate segments: the Demerged Undertaking (real estate assets) and the Continuing Undertaking (exchange operations), to be managed by PSX Financial Centre, a wholly-owned subsidiary of PSX. PSX will retain the exchange operation segment, while PSX Financial will manage the real estate assets.

According to PSX officials, the real estate assets are underutilized, and the subsidiary will help develop the business, rent out the assets, and increase earnings. The separation of core exchange operations will allow the existing management to focus more on trade activities, increase the number of investors, improve turnaround, and increase the number of investors at PSX.

The latest financial statement shows that PSX’s gross earnings from core exchange operations have dropped slightly, while rental income from investment property improved in the six months ended December 31, 2022. PSX officials have previously separated different operations, such as the stock market clearing and settlement business, creating the National Clearing Company of Pakistan Limited (NCCPL) and Central Depository Company (CDC) to improve functions.

The demerger will be effectuated and carried out in accordance with the terms of a Scheme of Arrangement, prepared under the provisions of the Companies Act 2017, subject to finalization by authorized representatives of PSX, obtaining the approval of the Securities and Exchange Commission of Pakistan (SECP), the approval of the requisite majority of the respective members of the company, and sanctioned by the Scheme of Arrangement of the High Court of Sindh in Karachi, along with the fulfilment of related legal formalities.

PSX’s net earnings (profit after tax) dropped 42% to Rs 158.38 million during July-December 2022, compared to Rs 272.36 million in the same six months of the previous year. However, PSX remained profitable during July-December 2022 due to the share of profit from associates at Rs 178.85 million. The share of profit from associates declined significantly compared to the same period last year.

Leading Developments in Artificial Intelligence to Emerge in 2023

The field of Artificial Intelligence (AI) has undergone rapid development in recent years and is set to continue its growth in 2023. The year ahead promises new breakthroughs in natural language processing, as well as the increased utilization of AI in businesses. Here are the top AI trends to look out for in 2023:

Breakthroughs in Natural Language Processing

Natural Language Processing (NLP) is a subset of AI that involves the interaction between humans and computers through natural language. According to Tech Target, 2023 will see significant advances in NLP, particularly in the areas of sentiment analysis and chatbots.

ere are the top AI trends to look out for in 2023, including new advancements in natural language processing and the increasing use of AI in businesses:

Advancements in Natural Language Processing

Natural Language Processing (NLP) is an AI branch that focuses on interactions between humans and computers using natural language. According to Tech Target, NLP will see significant advancements in 2023, particularly in the areas of sentiment analysis and chatbots.

Sentiment analysis involves identifying and extracting opinions and emotions from text. It’s becoming increasingly vital for businesses to understand how customers feel about their products and services. Meanwhile, chatbots are computer programs that can simulate human-like conversations. They are becoming more popular for customer service and support.

Increased use of AI in healthcare

The healthcare industry has seen significant progress in the use of Artificial Intelligence (AI), and it is expected to become even more widespread in 2023. According to CNET, one of the most promising applications of AI in healthcare is in the analysis of medical images like X-rays and CT scans. With the help of AI algorithms, doctors can diagnose diseases and conditions with greater accuracy.

Furthermore, AI can assist in drug discovery, patient monitoring, and the creation of personalized treatment plans. The use of AI in healthcare has the potential to significantly improve patient outcomes and revolutionize the industry.

Expansion of AI in business

The use of AI in businesses is expanding rapidly and is set to grow even more in 2023. AI is increasingly being used in areas such as supply chain management, fraud detection, and customer service, among others. According to Forbes, AI-powered decision-making tools will become more prevalent in business, enabling companies to make more informed and efficient decisions. AI’s ability to analyze large amounts of data quickly and accurately is a key factor in its growing use in businesses, allowing for more precise forecasting, resource optimization’s, and risk management.

The ongoing expansion of edge computing

In computing, edge computing is a strategy that involves processing data at the “edge” of the network, closer to where the data is produced, rather than in a central data Centre. This approach has gained significant popularity in recent years and is expected to continue its growth in 2023, especially in combination with artificial intelligence (AI). With edge computing, AI algorithms can function more efficiently and rapidly as data is processed near the source, without depending on a centralized data Centre.

Growing Focus on the Ethical implications of the Technology

As AI technology becomes more ubiquitous, there is a growing emphasis on its ethical implications. In 2023, The Verge predicts that ethical AI will receive increased attention, especially in the areas of privacy, bias, and accountability. The accuracy and effectiveness of AI algorithms are highly dependent on the quality and nature of the data they are trained on. If the data is biassed or incomplete, it can lead to biassed or inaccurate outcomes.

Moreover, there are apprehensions about the possible misuse of AI for malicious activities like cyber-attacks and deepfake videos.

According to scientists, adding white lights to traffic signals can help self-driving cars better navigate through intersections and improve traffic flow. The white lights would signal that the autonomous vehicles are planning their movements, allowing human drivers to better anticipate their actions and avoid potential collisions. This approach could help ease the transition to a world where self-driving cars are more common on the roads.

As the use of artificial intelligence in transportation increases, the standard three-color traffic light system may no longer be sufficient. To address this, researchers from North Carolina State University propose the addition of a fourth color to traffic signals: white. The white light would indicate that autonomous vehicles (AVs) are planning their movements and would improve traffic flow by informing other drivers about the actions of AVs at intersections. This change could lead to more efficient and safer traffic management.

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