Author: newsdesk

  • PSX hits historic high: KSE-100 closes at record-breaking 67,142

    PSX hits historic high: KSE-100 closes at record-breaking 67,142

    Pakistan Stock Exchange’s (PSX) KSE-100 index surged to unprecedented heights in Thursday’s trading, culminating at a historic peak of 67,142.12, marking a substantial uptick of 594.34 points or 0.89 per cent.

    Throughout the trading day, the index demonstrated unwavering positivity, cresting at an intraday zenith of 67,246.03 (+698.24) and a nadir of 66,690.94 (+143.15) points, reflecting robust investor sentiment and confidence in the market’s trajectory.

    Trading activity was buoyant, with the KSE-100 index witnessing a total turnover of 231.314 million shares, underlining robust investor participation and liquidity in the market.

    The stellar performance of the KSE-100 index was underpinned by the commendable contributions of various sectors, notably Commercial Banks, which bolstered the index with 184.39 points, followed by Fertiliser (89.9 points), Cement (85.95 points), Oil & Gas Exploration Companies (49.32 points), and Oil & Gas Marketing Companies (27.36 points).

    Conversely, certain sectors experienced marginal declines, with Leather & Tanneries leading the downturn with 6.69 points, trailed by Transport (2.26 points), Real Estate Investment Trust (0.69 points), Miscellaneous (0.35 points), and Modarabas (0.31 points), albeit their impact remained subdued in the broader market context.

    In parallel, the Pakistani rupee (PKR) demonstrated resilience against the US dollar in the interbank market, appreciating marginally by approximately 1 paisa.

    The currency closed the trading session at PKR 278.03 per USD, exhibiting strength compared to the preceding session’s closure at PKR 278.04 per USD.

    During intraday trading, the rupee reached a peak bid of 278.1 and a trough ask of 278, reflecting stability and confidence in the domestic currency’s valuation.

    In the open market, exchange companies quoted the dollar at PKR 278.04 for buying and PKR 280.41 for selling, indicative of prevailing market dynamics and demand-supply dynamics.

  • Pakistan’s CPI-based inflation predicted to decline to 20%

    Pakistan’s CPI-based inflation predicted to decline to 20%

    Consumer Price Index (CPI)-based inflation in Pakistan is forecasted to witness a further decline, potentially settling at approximately 20 per cent on a year-on-year (YoY) basis for March.

    This projection marks a decrease from the 23.1 per cent recorded in February, as indicated by a report from Arif Habib Limited (AHL) released on Thursday.

    The anticipated headline inflation rate for March 2024 is projected to stand at 20.2 per cent YoY, reflecting a notable downturn from the preceding month’s figure of 23.1 per cent YoY.

    AHL’s report also highlights a substantial drop compared to the same period in the previous year, March 2023, when the YoY inflation rate was registered at 35.4 per cent.

    Consequently, it is envisaged that the average CPI for the first nine months of the fiscal year 2023-24 will hover around a 27.2 per cent YoY level, consistent with the figures observed during the same period last year (SPLY), according to the brokerage house.

    On a monthly basis, AHL’s projections for March 2024 suggest a modest increase of 1.3 per cent, contrasting with the average month-on-month (MoM) rise of 1.7 per cent recorded over the first eight months of the fiscal year.

    This upturn in monthly inflation is primarily attributed to rises in key indices, notably the food index (+1.3 per cent MoM), transport index (+1.5 per cent MoM), and housing index (+2.9 per cent MoM), the report stated.

    The brokerage house attributed the increase in the food index to the impending Ramadan season, foreseeing a month-on-month surge in prices of fresh fruits, potatoes, onions, and tomatoes.

    Meanwhile, the housing index is expected to see an uptick primarily due to increases in gas tariffs and LPG prices.

    Additionally, the transport index is anticipated to remain elevated owing to a month-on-month rise in petroleum product prices, according to AHL.

  • Door that saved Rose in Titanic sells for over $700K

    Door that saved Rose in Titanic sells for over $700K

    The door prop, which saved Kate Winslet’s character Rose in the movie, ‘Titanic’ has been sold for over $700K at an auction conducted by the restaurant and resort chain Planet Hollywood.

    During the four-day memorabilia auction, the balsa wood board, known as the iconic ‘hero floating wood panel,’ fetched a winning bid of $718,750. It surpassed other famous props like Harrison Ford’s bullwhip from ‘Indiana Jones’ and Jack Torrance’s axe from ‘The Shining.’

    Bidding for the prop started at $60,000 and quickly soared past $700,000. The auctioneer emphasized the significance of the prop to the plot, describing it as the pivotal moment in the film’s storyline.

    In the scene, Jack, played by Leonardo DiCaprio, sacrificed himself by insisting there was only enough room on the door for Rose. Despite ongoing debate among fans about whether both characters could have fit on the door, director James Cameron has dismissed such theories, stating it was necessary for the hero to die according to the script.

  • Stray dog helpline restored, app to be launched in Karachi

    Stray dog helpline restored, app to be launched in Karachi

    The Project Director of the Anti-Rabies Control Program has said that an app has been developed for the complaint of stray dogs in Karachi which will be launched after Ramzan. A helpline related to the same issue has been restored for the city.

    Geo’s Amin Anwar reports that a hearing was held in the Sindh High Court on action against stray dogs and non-supply of vaccines in the coastal city. The Project Director filed a reply in the court stating that the helpline 1093 for reporting dog bite incidents has been reinstated by the Anti-Rabies Control Program.

    The reply submitted in the court also stated that from January 2022 to March 2024, more than 19,000 dogs were vaccinated, rabies control centers were set up in four districts, and rules were made to control the growing population of stray dogs in the city.

    The program has aimed in the reply that dog population control centers will be established in every district of the province and a notification regarding that has already been issued on February 29.

    The project director of anti-rabies control program also said that a mobile app has been created for the complaint of stray dogs and bite incidents. This app will be launched for the public after Ramzan.

    Citizens can file complaints about stray dogs with photo and address through the app. Stray dogs will be vaccinated after that.

    The court adjourned till May 4.

  • Ushna Shah wedding style: Why did she choose traditional red?

    Ushna Shah wedding style: Why did she choose traditional red?

    Ushna Shah and her husband recently made a guest appearance on Shaan E Suhoor, hosted by Nida Yasir, where they shared insights into their wedding choices. During the show, a fan question asking about the significance of the vibrant red shade in Ushna’s bridal attire and whether it was her preference or her husband’s.

    In response, Ushna Shah said , “I didn’t want a surprise, so our bridal shoot couldn’t happen as planned. We hadn’t met before, and he saw me for the first time walking in. So, we opted for Nikkah during the wedding. It’s what I wanted because I felt like I’ve had enough weddings in my dramas, and I’ve worn pastel color and all. I wanted something from the old days, a deep red. Warda Salim didn’t make it too bold, which was good, but I wanted the traditional red outfit from our grandmothers’ era. I wanted it as red as possible because my walima outfit was white. His (husband’s) reaction, seen on our Instagram, was just ‘Wow.’ He said, ‘This is the most beautiful thing you wore.’

  • Full Court meeting called after Shehbaz-Isa meeting

    Full Court meeting called after Shehbaz-Isa meeting

    The Prime Minister of Pakistan Shehbaz Sharif met the Chief Justice of Pakistan Qazi Faez Isa on Thursday against the backdrop of the bombshell letter written by the six judges of Islamabad High Court (IHC). The meeting lasted about an hour and twenty minutes.

    The letter went into details on what it called ‘interference’ of spy agencies in judicial matters. The PM was accompanied the by Attorney General Pakistan Mansoor Usman and Law Minister Nazir Tarar, while in the chamber, Justice Mansoor Ali Shah accompanied the CJP.

    “PM Shehbaz assured CJP Isa that no compromise will be made on the judiciary’s independence,” said Tarar in a press conference today. After the high-level meeting today, the PM decided to constitute a commission to investigate the allegations levelled by the six judges.

    Tarar further stated “The federal government considered the content of the judges’ letter an extremely serious matter as no one should be allowed to meddle in any institutions’ affairs, and it should be probed.”

    The PM will also take up the matter during a cabinet meeting tomorrow.

    Yesterday, the bar associations of the country and senior legal experts called for a thorough investigation into the contents of the letter and the CJP conducted a full court meeting to discuss the matters at hand.

  • Jason Gillespie resigns from coaching Western Australia and Adelaide Strikers to coach Pakistan

    Jason Gillespie resigns from coaching Western Australia and Adelaide Strikers to coach Pakistan

    Former Australian fast bowler Jason Gillespie has resigned from coaching Western Australia and Adelaide Strikers to take up the responsibility of Pakistan cricket team’s head coach.

    According to Australian media, Jason Gillespie had one year remaining on his contract with Western Australia where he was working as the head coach of Western Australia and Adelaide Strikers.

    Gillespie is a strong candidate to coach the Pakistan team.

    Speaking on the occasion, he said, “I am proud of what I have achieved with the Australian Cricket Association, I am eager to explore new opportunities and excited to embark on a new chapter in my career.”

    The Adelaide Strikers reached the final six times under Jason Gillespie’s coaching.

  • Mahira Khan wanted to avoid photoshoot with husband before marriage

    Mahira Khan wanted to avoid photoshoot with husband before marriage

    Famous actor Mahira Khan has recently talked about her beautiful wedding clothes and shared her ideas for sunset photos with her husband Salim Karim.

    Mahira Khan talked to Lollywood space where she said that when the photos were first shared last October along with news of her marriage to Salim Karim, it was unexpected. She said all those pictures were taken casually, surprising everyone.
    “I didn’t know that wedding photographers take pictures before the wedding ceremony, maybe at the studio or the wedding venue, and I was not prepared for it,” Khan remembered.
    The ‘Aik Hai Nigar’ star went on to say, “I told them I can’t take photos with Salim before we officially signed the marriage papers, because I wanted him to see me after we got married.”

    “So when I arrived, I was in one corner, he was in another, peeking through his Sehra, and I had my veil. That’s when we signed the papers. I walked towards him, and he saw me for the first time. And that’s what I wanted,” she explained. She added that when she met her now-husband, she completely forgot about the pictures they were supposed to take after the wedding ceremony. “My team and photographers rushed about because the sun was about to set.”

    “I mentioned that we stood at a nearby cliff for some last-minute photoshoot,” said Khan. “I didn’t want any fancy poses or editorials,” she added. “I wanted to enjoy my day without worrying about the pictures.”

    Mahira Khan got married to Salim Karim, who is an entrepreneur and CEO of a startup based in Pakistan. They had a small and private wedding ceremony in Bhurban in October last year.

  • Aima Baig’s Umrah with tattoos stirs up social media buzz

    Aima Baig’s Umrah with tattoos stirs up social media buzz

    Aima Baig, the sensational Pakistani singer, has once again embarked to Saudi Arabia for an Umrah and this time, she’s taking her father along.

    Aima is currently in Saudi Arabia to perform Umrah with her father by her side. Last year, during Rabbi-ul-Awal, she went on the sacred journey.
    Aima has been flooding our feeds with heartwarming Umrah pictures featuring her beloved dad. She’s been gushing about her Umrah experience in detail, sharing her joy with the world.

    Aima didn’t shy away from addressing the elephant in the room – her tattoos! In her captions, she mentioned performing Umrah despite having inked skin. And to all the trolls out there, she had a witty comeback: “Allah invited me, not you!”

    Read the comments:

  • Supreme Court grants conditional permission for military courts to announce May 9 verdicts

    Supreme Court grants conditional permission for military courts to announce May 9 verdicts

    The Supreme Court of Pakistan has granted conditional permission to military courts to announce reserved verdicts in cases related to civilians allegedly involved in the May 9 riots.

    The directive came during a hearing on a set of intra-court appeals (ICAs) against the apex court’s previous ruling nullifying military trials of civilians connected to the riots.

    The six-member bench, led by Justice Aminuddin Khan and including Justices Muhammad Ali Mazhar, Syed Azhar Hasan Rizvi, Shahid Waheed, Musarrat Hilali, and Irfan Saadat Khan, presided over the proceedings.

    The case revolves around the trial of over 100 civilians accused of attacking army installations during riots following the arrest of ex-premier Imran Khan on May 9 of the preceding year.

    Last year, a five-member Supreme Court bench unanimously declared military trials of the accused civilians unconstitutional, directing their trial in criminal courts established under the ordinary or special law of the land.

    However, on December 13, the Supreme Court conditionally suspended its previous ruling pending final judgments on a set of ICAs. These appeals were filed by the then-caretaker federal government and provincial governments of Balochistan, Khyber Pakhtunkhwa, and Punjab. The defense ministry also filed an ICA seeking suspension of the ruling’s operation during the appeal process.

    During the hearing, the AGP also hinted at the possibility of 15 to 20 of the accused being released by the special courts. “A total of 105 accused are in the army’s custody,” he said.

    AGP Awan further said that there were three stages to the release of the suspects. The first step would be the pronouncement of the reserved judgements; the second would be its confirmation; and the third step would be for the army chief to give concessions to those with reduced sentences.

    The attorney general then urged the apex court to allow military courts to announce the reserved verdicts.

    “Even if permission is granted, it will be subject to the final decision on the appeals [against the Oct 23 ruling],” Justice Khan remarked.

    Justice Rizvi then inquired about the names of those who would be released. AGP Awan replied that the names could not be released until the military courts decided the cases.

    “Those whose punishment is one year will be given concessions,” the AGP said.

    Subsequently, the SC gave conditional permission to military courts to announce the reserved verdicts. It directed that judgments be announced in cases in which the nominated suspects could be released before Eid.

    The court also accepted the request from the Khyber Pakhtunkhwa government to withdraw its appeal against the October 23 ruling. The hearing was adjourned until the fourth week of April, with the attorney general instructed to submit a report on the matter to the registrar.