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Why the New Abu Dhabi MGX AI Fund Changes Global Tech Forever

The technology sector just witnessed a seismic shift. With the announcement that Abu Dhabi’s tech investment vehicle, MGX, has raised a staggering US$49 billion for a dedicated artificial intelligence fund, the global tech landscape has officially entered a new era. This is not just another venture capital pool; the Abu Dhabi MGX AI fund represents a massive institutional validation of AI as the defining economic engine of the next century. By eclipsing its original US$45 billion target, MGX isn't merely participating in the tech boom-it is aggressively positioning itself to dictate its direction. What makes the new Abu Dhabi MGX AI fund a game-changer? In my view, the sheer scale of this fund alters the venture capital ecosystem entirely. Raising US$49 billion in a climate where some tech stocks are experiencing volatility shows incredible contrarian conviction. This capital gives MGX unmatched structural leverage. The fund allows Abu Dhabi to anchor the most capital-intensive pr...
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Petrol and Diesel Prices Hiked in Pakistan Petrol and Diesel Prices Hiked in Pakistan: Rs5 and Rs7.32 Increase Effective from February 16

 

The government has raised petrol prices by Rs5 per litre to Rs258.17 and high-speed diesel (HSD) by Rs7.32 to Rs275.70 per litre for the fortnight ending February 28, 2026. Announced late on Sunday from Islamabad, the revision stems from rising international crude rates and input from the Oil and Gas Regulatory Authority (Ogra). This comes as a fresh blow to households already grappling with inflation, especially with diesel fueling much of the transport and agriculture sector. 

How the Hike Hits Everyday Life

Diesel’s jump now at Rs275.70 will ripple through trucking, buses, tractors, and even trains, pushing up costs for vegetables, grains, and daily essentials. Petrol at Rs258.17 affects bikes, rickshaws, and cars, squeezing middle-class budgets in cities like Karachi and Lahore. The Petroleum Division’s notification highlights these as key revenue drivers, with monthly sales hitting 700,000-800,000 tonnes.

Levies and Government Revenue Angle

Even with zero GST on fuel, the government collects hefty levies: Rs87 per litre on petrol (including Rs2.50 climate support) and Rs79 on diesel, plus Rs17-18 in customs duty regardless of imports or local refining. Dealers and companies pocket another Rs17 in margins. This setup helped rake in Rs1.161 trillion from petroleum levy last fiscal year, projected to hit Rs1.470 trillion this time a 27% jump amid fiscal pressures.

Reactions Pouring In on Social Media

Pakistanis are voicing frustration online over the timing and impact. Mohsi summed it up bluntly in his post: Government hikes fuel prices – petrol Rs258.17, diesel Rs275.70. Pakistan Economic Network shared expectations ahead of the hike here, while Grok confirmed the details in a timely reply on X.

Rs5 and Rs7.32 Increase Effective from February 16

The government has raised petrol prices by Rs5 per litre to Rs258.17 and high-speed diesel (HSD) by Rs7.32 to Rs275.70 per litre for the fortnight ending February 28, 2026. Announced late on Sunday from Islamabad, the revision stems from rising international crude rates and input from the Oil and Gas Regulatory Authority (Ogra). This comes as a fresh blow to households already grappling with inflation, especially with diesel fueling much of the transport and agriculture sector.


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