logo
Another bad news for Pakistan, this big tech giant shuts operations after…, not Sundar Pichai's Google or IBM, it is…

Another bad news for Pakistan, this big tech giant shuts operations after…, not Sundar Pichai's Google or IBM, it is…

India.coma day ago
Microsoft is one of the leading tech giants in the world, and started its operation in Pakistan on March 7, 2000. It was there for 25 years and played a big role in the country's unpopular economy. However, on 3 July 2025, the company officially exited from the region without any formal announcement. Microsoft Exits Pakistan
When Jawwad Rehman, Microsoft's founding country head in Pakistan called it 'the end of an era', then the news reached all. After 25 years of operations, Microsoft has officially shut down its Pakistan office, over political and economic instability.
While Microsoft has not given any explanation publicly, according to media reports the decision was taken over Pakistan's unstable economy, politics, and poor trade conditions.
It was also due to unstable currency, high taxation and limited access to imported tech hardware and there were frequent government changes. All these reasons made it difficult for companies like Microsoft to function in the country. Why Microsoft Shuts Operations In Pakistan?
The country's FY2024 trade deficit was USD 24.4 billion, with reserves falling to USD 11.5 billion in June 2025. The decision was taken over lack of trust, both political and financial. Microsoft' was not able to move funds and tools in and out freely became a concern for them.
In 2022, Microsoft was considering expanding its presence in Pakistan. But after instability , the company started thinking of Vietnam as an option. The tech giant also closed multiple support programs and stopped new partnerships in the region in the past two years.
India is still a stable destination for global tech players. With countries policies, stable political conditions, a growing digital economy, and stronger diplomatic ties its top choice for many tech giants.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Bill Gates lost about $52 billion or 30% of his wealth this week - here's what happened
Bill Gates lost about $52 billion or 30% of his wealth this week - here's what happened

Time of India

time26 minutes ago

  • Time of India

Bill Gates lost about $52 billion or 30% of his wealth this week - here's what happened

Why did Bloomberg reduce Bill Gates' net worth by $52 billion? How much has Bill Gates donated to the Gates Foundation? Live Events How did Steve Ballmer surpass Bill Gates in net worth? Here's the updated Top 12 richest individuals according to the Bloomberg Billionaires Index as of market close on July 4, 2025: Rank Name Net Worth (USD) 1 Elon Musk $361 B 2 Mark Zuckerberg $254 B 3 Larry Ellison $253 B 4 Jeff Bezos $244 B 5 Steve Ballmer $172 B 6 Larry Page $163 B 7 Bernard Arnault $161 B 8 Sergey Brin $152 B 9 Warren Buffett $146 B 10 Jensen Huang $139 B 11 Michael Dell $138 B 12 Bill Gates $124 B What's the reason for Microsoft stock's massive growth? "No, Charlie, but I'm that loyal." What's next for Gates, Ballmer, and the billionaire rankings? FAQs: (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Bill Gates is no longer one of the world's top 10 richest people — and the surprising twist? He now ranks behind his former assistant, Steve Ballmer. According to Bloomberg, Gates' net worth was recalculated on Thursday, dropping by a massive $52 billion, or 30%, due to updated estimates of his charitable donations. This sharp decline pushed the Microsoft cofounder from 5th to 12th place on the Bloomberg Billionaires Index , placing him below Alphabet cofounders, Nvidia's CEO, Warren Buffett, and sudden shift in Bill Gates' wealth wasn't due to a market crash or poor investments — it was a recalculation based on philanthropy. Bloomberg updated the way it calculates Gates' net worth to better reflect his massive charitable giving, something he has publicly emphasized. In a May blog post, Gates estimated his personal wealth at $108 billion and reaffirmed his plan to donate "virtually all" of it through the Gates Foundation over the next 20 adjusted their model accordingly, reducing appreciation rates used in their formula and aligning it more closely with the wealth estimate Gates himself of December, Bill Gates and his ex-wife, Melinda French Gates, have donated a staggering $60 billion to the Gates Foundation, according to the foundation's official website. Their longtime friend, Warren Buffett, has also contributed a massive $43 plans to give away even more. In his blog, he stated that the foundation is expected to spend over $200 billion before it winds down operations by 2045. This long-term vision for philanthropy directly affects how his wealth is counted by indexes like Bloomberg' makes this story even more remarkable is who surpassed Gates — Steve Ballmer, his former assistant and successor as Microsoft's CEO. Ballmer now holds the 5th position on the Bloomberg Billionaires Index with a net worth of $172 joined Microsoft in 1980 as an assistant to the president, earning a modest $50,000 base salary and a bonus based on profit growth. That deal turned out to be so lucrative that Microsoft eventually swapped it for a large equity stake. When Ballmer stepped down as CEO in 2014, he retained a 4% stake in Microsoft. That stake has since ballooned in value thanks to Microsoft's stock stock has skyrocketed over the past decade, climbing more than 10x to reach nearly $500 per share. As of now, it's the second-most valuable company in the world, trailing only Nvidia, with a $3.7 trillion market who owns the Los Angeles Clippers, held onto his Microsoft shares while others, like Gates and the late Paul Allen, diversified. In a recent interview on the Acquired podcast, Ballmer recalled a moment when Charlie Munger, Warren Buffett's late business partner, asked him why he never sold his Microsoft replied with a hint of humor and loyalty:Now sitting at 12th place with a net worth of $124 billion, Bill Gates seems unfazed. His focus has shifted away from accumulating wealth and toward philanthropic impact. While it's rare for a former assistant to outrank a founder in net worth, Ballmer's case proves that equity ownership — and loyalty — can pay off in a big the top of the Bloomberg Billionaires Index includes big tech names like Larry Page, Sergey Brin, and Jensen Huang, all of whom now rank above Gates. The world of billionaire rankings continues to shift, but Gates' commitment to giving is what's truly reshaping his wealth was recalculated by Bloomberg to reflect his large donations to the Gates kept his Microsoft shares while Gates donated most of his wealth.

Why is Microsoft pulling out of Pakistan after 25 years: Reports
Why is Microsoft pulling out of Pakistan after 25 years: Reports

Time of India

timean hour ago

  • Time of India

Why is Microsoft pulling out of Pakistan after 25 years: Reports

(Image via Getty Images) Microsoft has made the decision to shut down operations in Pakistan. It would end the 25-year-old presence of the company in Pakistan. The move comes as a surprise to Pakistan's local IT sector, where Microsoft, the tech giant played a key role in digital transformation. While no official statement has been released yet, industry experts are pointing to economic challenges and the shifting business strategies as possible reasons for the exit. Let us deep dive into these reasons. Why is Microsoft leaving Pakistan? Microsoft's exit follows some growing difficulties within Pakistan's business environment. The company that entered its market in 2000 kept its focus on the primary sale of office products and Azure, but had no engineering teams locally. As per reports, with just five local employees affected, the decision seems to be a part of a broad restructuring— Microsoft recently cut down 9,000 global jobs. Jawwad Rehman, a former Microsoft Executive, even hinted at some operational challenges through his LinkedIn post. He emphasized the struggles faced by Pakistani businesses. The economic instability of the country, including currency devaluation and the declining foreign investment, further and quite likely influenced this move. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Nhà tiền chế 2025: Lựa chọn nhà ở giá cả phải chăng (Xem ngay) Nomad's Notebook Nhấp vào đây Undo Microsoft would now be serving the company's Pakistani clients via regional offices and resellers. How does Microsoft's exit impact the Pakistani tech sector? The departure of Microsoft adds to concerns over Pakistan's ability to retain multinational companies. Over 55 startups shut down or have pivoted since 2021. Tech funding, too, dropped by 88% between 2022 and 2024. There's poor internet infrastructure, frequent power outages, and even a worsening business climate, which further pushed 1000s of tech professionals to seek better opportunities abroad. Despite it all, some companies, including Google, are investing in Pakistan. They have reportedly pledged $10.5 million for education and local Chromebook production. Such a contrast here highlights differing corporate strategies, with some of the firsts considering it as potential, while others are retreating. As for Pakistan, retaining tech players will now be crucial to stabilizing the struggling digital economy. What is next for Pakistan's IT industry? The Pakistani government plans to offer IT certifications from Google and Microsoft to 500,000 youth, even when Microsoft has scaled back. The experts warn that without addressing some core issues here, like policy stability and those infrastructural gaps, more issues can follow. Even widening gaps, with India, where Microsoft does have strong operations, underscore the urgency for reforms. As of now, Pakistani businesses that are reliant on Microsoft products will not face any disruptions as services will continue via partners. But the exit of Microsoft serves as a wake-up call for the policymakers to revive investor confidence before any more damage is done. For real-time updates, scores, and highlights, follow our live coverage of the India vs England Test match here. Game On Season 1 continues with Mirabai Chanu's inspiring story. Watch Episode 2 here.

Trump underwater in every key swing state, and now he's slipping in Texas too
Trump underwater in every key swing state, and now he's slipping in Texas too

Time of India

timean hour ago

  • Time of India

Trump underwater in every key swing state, and now he's slipping in Texas too

US President Donald Trump 's approval ratings are going down again. Apparently, the ratings plummeted even beyond swing states . As the Fourth of July comes and goes, a new poll shows he's now underwater in more than half the country. The president's stronghold, Texas, is starting to look shaky, too. Donald Trump's approval rating is low in 29 U.S. states. Polls show that many people are worried about the economy, tariffs, and immigration policies, which are all hurting his support across the country. What do the polls show? Civiqs' polling, which included 35,929 responses, indicates that while Trump's support rating is positive in some states, it is declining in others. Overall, net positive approval ratings are found in 21 of the 50 states that were studied, while net negative ratings are found in 29. ALSO READ: Mass layoffs in 2025: Microsoft, Meta, and more big names slash jobs — is yours next? Live Events His approval rating is below average in other states. In Maryland, his approval rating is -41, and in Hawaii, it is -47. Trump's approval rating has likewise stayed in the negative range on a national level. Trump had a net approval rating of -14 points, with 40 percent of respondents approving and 54 percent disapproving, according to a YouGov/Economist poll of 1,590 adults taken between June 20 and June 23, as per a report by Newsweek. This was a slight decrease from -13 last week. The margin of error for the survey was +/- 3.5 percent. In the meantime, a Tyson Group survey of 1,027 American adults conducted between June 25 and June 26 revealed that Trump's net approval rating was 6 points lower, with 45 percent of respondents approving and 51 percent disapproving. Where is Donald Trump still popular? Wyoming has the highest approval rating for Trump, with a net rating of +44 percent. With an approval rating of +36 in West Virginia, he is also well-liked there. What's driving his approval ratings down? Trump's first few months in office have seen a range in his popularity. The Department of Government Efficiency (DOGE) is in charge of overseeing the cuts that have sparked demonstrations. Trump's immigration policies have been the subject of other rallies, and his tariffs and strikes on Iran have also drawn criticism. On the other hand, the Fourth of July, also known as Independence Day in the United States, honours the Declaration of Independence. Given that it is a day of celebration and patriotism, any decline in Trump's popularity during the festivities would be devastating, as per a report by Newsweek. Protests against the Trump administration have taken place nationwide over the weekend of Independence Day, including rallies and demonstrations. The impact of Trump's policies and national and international events is likely to cause fluctuations in his approval rating. How are experts interpreting the polls? Since April, Donald Trump's approval rating has remained consistent in the mid-40s, indicating a high level of support, according to Richard Johnson, a senior lecturer in U.S. politics and policy at Queen Mary University of London. The economy has had a major impact on Trump's approval ratings, especially since the imposition of tariffs, which has caused a decline in ratings and is anticipated to be the main factor determining his future, an expert weighed in. FAQs In how many states is Trump's approval rating negative? According to Civiqs polling, Trump is losing support in 29 of 50 states, including some key swing states and even Republican stronghold Texas. What is causing the greatest drop in Trump's popularity? Economic uncertainty, tariffs, and controversial immigration and foreign affairs policies are cited as major reasons for the drop in his public support.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store