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Apple to resume sales of watches without blood oxygen feature

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Apple plans to remove a blood oxygen monitoring feature from two flagship Apple Watch models in the United States amid a legal battle over patents on the technology behind the feature.

The feature, marketed for fitness purposes, could take a year to resolve. Analysts had expected Apple to strike the feature rather than remove devices from sale in one of its biggest markets.

The company said Apple Watch Series 9 and Ultra 2 models without the feature would go on sale on its website and stores starting at 6 am Pacific Time on Thursday.

Apple shares closed 0.5% lower at $182.68 after the US Court of Appeals for the Federal Circuit ruled on Wednesday the company could no longer sell the models at the centre of a legal battle with medical technology company Masimo.

In December, Masimo secured a decision from the US International Trade Commission (ITC) to halt imports of Apple Watches which, according to Counterpoint Research, comprise about a quarter of the global smartwatch market.

In a statement, Joe Kiani, Masimo’s founder and chief executive, said the court ruling on Wednesday “affirms that even the largest and most powerful companies must respect the intellectual rights of American inventors and must deal with the consequences when they are caught infringing others’ patents.”

Apple said it “strongly disagreed” with the ITC decision and resulting orders and they should be reversed, Reuters reported.

Existing Apple Watches are not affected by the orders, nor are devices sold outside the US.

Series 9 and Ultra 2 models sold in the US from Thursday will still have an app icon for the blood oxygen features. But when users tap those icons, they will informed the features are unavailable.

Ben Bajarin, chief executive of analyst firm Creative Strategies, had expected Apple to disable the blood oxygen features on its Series 9 and Ultra 2 Apple Watch models in the US rather than stop selling the wearable devices.

Apple’s watches, which accounted for $39.84 billion of its overall $383.29 billion in sales for fiscal 2023, accounted for 42% of its overall revenue from North America, despite its smaller sales figures compared to its flagship iPhone.

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ECC Convenes in Islamabad: Forum Sanctions Spa Agreement Between PSO and SOCAR Azerbaijan

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Pakistan State Oil and SOCAR Azerbaijan have signed a sale purchase agreement for the delivery of petroleum products, which has been approved by the Cabinet’s Economic Coordination Committee.

The Finance Minister Muhammad Aurangzeb chaired the ECC meeting in Islamabad, where the permission to this effect was granted.

The Ministry of Energy’s Circular Debt Management Plan for FY 2024–2025 was also authorized by the conference. Its goals are to improve financial sustainability and lower liabilities in the power industry.

The committee examined the situation with the increase in prices for chicken and pulses. In order to offer the general public with relief as soon as possible, it expressed worry about the situation and requested that the National Price Monitoring Committee keep an eye on it in cooperation with the Ministry of National Food Security and Research and the Provincial Administration.

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Pakistan has reduced its policy rate to an all-time high.

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There has been a significant decrease in the policy interest rate that Pakistan has implemented. The country’s central bank made the announcement on Monday that it will be lowering interest rates by 250 basis points, bringing them down to 15 percent. This was a record-breaking reduction in Pakistan’s policy rate, which was done with the intention of bolstering the economy, which had been struggling.

Following a significant decrease in Pakistan’s inflation rate, the central bank made this move. It was anticipated in a poll conducted by Reuters that policy rates would be reduced by 200 basis points. There was a forty percent increase in the country’s inflation rate in May 2023, however it has since decreased to seven point two percent in October. The Ministry of Finance anticipates that inflation will continue to decline, reaching a level of between 5.5 and 6.5 percent in the month of November.

Earlier, Pakistan had reduced the policy rate by 700 basis points over the course of four separate measures beginning in June of last year. The economy of Pakistan has been in a precarious situation for a considerable amount of time. The majority of economists are of the opinion that falling interest rates is essential in order to stimulate economic expansion.

By stating that the existing monetary policy will assist stabilize commodity prices and keep inflation between 5 and 7 percent, the State Bank of Pakistan expressed its support for a reduction in interest rates. In addition to contributing to the preservation of macroeconomic stability, it will also contribute to the achievement of economic growth on a sustainable basis.

Jameel Ahmad, the Governor of the Central Bank, informed analysts at a briefing that Pakistan’s bilateral partner countries have promised the International Monetary Fund (IMF) of continuing support for the duration of their current financial recovery program. This announcement was made in conjunction with the announcement of the policy rate decline.

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The stock market rises to all-time highs and crosses the 92,000-point mark.

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The primary index hit the crucial 92,000-point benchmark as the stock market soared to new all-time highs.

A significant increase was made by the hundred-index, which closed at 92,351 points after rising 414 points.

According to analysts, this increase is the result of a resurgence of investor confidence, which has been supported by strong mood in international markets and solid economic indications.

With predictions for more increase as market stability improves, the most recent surge highlights a robust recovery trend.

The market fell from previous record highs due to selling pressure, causing the Pakistan Stock Exchange to see a steep dip earlier today.

The benchmark 100-index ended the trading session down after originally rising 572 points to an all-time high of 92,514 points.

The market finished the day at 91,660 points, down 278 points, unable to hold the 92,000-point threshold after hitting spectacular highs.

Analysts point to investor profit-taking as a contributing factor in the decline, indicating a cautious attitude in the market following recent advances. The market is becoming more volatile, and investors are paying close attention to patterns.

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