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  • Hyderabad Sunrisers block David Warner on social media

    Hyderabad Sunrisers block David Warner on social media

    Indian Premier League (IPL) franchise Hyderabad Sunrisers have blocked their former player David Warner on the social media platform ‘X’ (formerly Twitter).

    Australian opener David Warner has been a part of IPL franchise Hyderabad Sunrisers. On Tuesday, the Sunrisers picked Australian player Travis Head as opener for INR 6.80 crore in the players’ auction.

    Meanwhile, David Warner wanted to tag his former franchise Sunrisers Hyderabad while posting on ‘X’ but was unable to do so as the franchise had blocked him.

    He shared a screenshot of the franchise’s profile, writing, “I wanted to retweet Sunriser’s post about Travis Head but I was unable to do so because Sunrisers blocked me.”

    Warner parted ways with IPL franchise over differences, and their relationship has since soured. Warner was the captain of the Hyderabad team in the 2021 season, however, he was left out of the playing XI and later removed from the captaincy.

    When the new season of IPL resumed after the COVID-19 pandemic, Sunrisers Hyderabad did not call him back to their team.

    The Australian opener was subsequently repurchased by Delhi Capitals for the 2022 edition, the team Warner started his IPL journey with in 2009.

  • Concerns rise over circulation of fake Rs5,000 banknotes

    Concerns rise over circulation of fake Rs5,000 banknotes

    In a recent meeting, the Senate Standing Committee on Finance convened to address the escalating circulation of counterfeit Rs5,000 banknotes, a matter that has raised serious apprehensions among officials, including those from the State Bank of Pakistan (SBP).

    Chaired by Senator Salim Mandviwala, the committee delved into the severity of the issue as it showcased a bundle of forged Rs5,000 notes.

    Senator Mandviwala, underscoring the gravity of the situation, asserted that even parliamentarians are susceptible to falling victim to this fraudulent activity.

    During the proceedings, Senator Mandviwala directed a challenge to SBP’s Deputy Governor, Dr. Inayat Hussain, urging him to identify the counterfeit notes.

    However, the attempt was met with a purported failure on the part of the Deputy Governor.

    Expressing the need for immediate and decisive action, the committee chairman called upon the central bank to take robust measures to combat the widespread dissemination of counterfeit currency.

    Mandviwala suggested that the infiltration of fake notes into circulation might be occurring through banks.

    A noteworthy proposal from Senator Mandviwala involved the exchange of counterfeit currency for genuine notes, an idea promptly dismissed by Deputy Governor Inayat Hussain.

    The latter cited concerns about potential misuse and abuse as the basis for the refusal.

    During the discussion, Hussain acknowledged the absence of a concrete system to prevent the printing of fake currency within the country.

    He further elaborated that while counterfeit dollars are a global issue, efforts are underway to enhance regulations to control the production and circulation of fake currency, specifically within Pakistan.

    According to ARY News, Mandviwala, highlighting the urgency of the situation, called for immediate relief measures. The committee, in unanimous agreement, advocated for the formulation of a comprehensive policy to combat the growing use of counterfeit currency, particularly within the banking system.

    The committee stressed the necessity of proactive measures to safeguard the financial integrity of the nation.

  • New tax rules: Discounts for overseas Pakistanis, higher costs for importers

    New tax rules: Discounts for overseas Pakistanis, higher costs for importers

    In a recent development, commercial importers of new mobile phones are set to miss out on any concessions following the issuance of the new valuation ruling.

    Conversely, a significant benefit has been extended to incoming international passengers, particularly overseas Pakistanis, who can now avail themselves of a depreciation of up to 60 per cent on used or refurbished mobile phones.

    The Directorate of Valuation Karachi’s latest ruling, numbered 1834 of 2023, is positioned to ease processes for overseas Pakistanis.

    However, it paints a different picture for commercial importers dealing with new mobile phones, who are now obligated to pay duties and taxes based on relatively higher customs values.

    The new ruling encompasses several additional models to refine the assessment of duties and taxes.

    Regrettably, the ruling does not offer any respite for commercial importers, placing the onus on them to adhere to the heightened customs values.

    In contrast, overseas Pakistanis stand to benefit from the increased depreciation rates outlined in the ruling, reaching up to 60 per cent for phones up to five years old brought in by incoming international passengers.

    Under the provisions of the new ruling, customs values for used or refurbished mobile phones imported by legitimate passengers will be assessed, considering the allowance for depreciation as stipulated in the provided tabulated values.

    For brands and models imported in commercial quantities but omitted from the annexure, clearance collectorates are advised to assess them under Section 81 of the Customs Act, 1969.

    Subsequently, a reference should be forwarded to the Directorate for the final determination of their values, according to the ruling.

    Sources indicate that overseas Pakistanis will find relief in the ruling due to the augmented depreciation rates, offering a substantial advantage for phones up to five years old.

    Meanwhile, commercial importers are left without any reprieve, as the new models of mobile phones will incur higher prices compared to their less-aged counterparts.

    This policy aims to curtail under-invoicing margins for both existing and new models of branded mobile phones.

  • Here are the most expensive players of IPL 2024 auction

    Here are the most expensive players of IPL 2024 auction

    The Indian Premier League 2024 auction was held in Dubai on December 19 on Tuesday. Australian cricket team’s left-arm fast bowler Mitchel Starc has become the most expensive player in the history of the Indian Premier League (IPL). IPL franchise Kolkata Knight Riders bought Starc for 24.75 crore INR (more than 84 crore PKR).

    Sunrisers Hyderabad bought Starc’s teammate and Australia’s captain Pat Cummins for 20.50 crore INR (more than 69 crore PKR). Apart from this many foreign players were bought on huge prices by other IPL franchises.

    Here are the top 10 most expensive players of the IPL auction 2024:

    Player Team Role Price (Indian Rupees) Price (Pakistani Rupees)
    Mitchell Starc Kolkata Knight Riders Bowler 24.75 crore 84.3 crore
    Pat Cummins Sunrisers Hyderabad All-Rounder 20.5   crore 69.8 crore
    Daryl Mitchell Chennai Super Kings All-Rounder 14 crore 47.6 crore
    Harshal Patel Punjab Kings All-Rounder 11.75 crore 40 crore
    Alzarri Joseph Royal Challengers Bangalore Bowler 11.5 crore 39.1 crore
    Rovman Powell Rajasthan Royals Batter 7.4 crore 25.21 crore
    Travis Head Sunrisers Hyderabad Batter 6.8 crore 23.1 crore
    Shivam Mavi Lucknow Super Giants Bowler 6.4 crore 21.8 crore
    Umesh Yadav Gujarat Titans Bowler 5.8 crore 19.7 crore
    Gerald Coetzee Mumbai Indians All-Rounder 5.0 crore 17 crore
  • Pakistani rupee gains 20 paisa against US dollar

    Pakistani rupee gains 20 paisa against US dollar

    The Pakistani rupee (PKR) extended its positive trajectory against the US dollar for the sixth consecutive session, appreciating by 0.07 per cent in the inter-bank market on Tuesday.

    According to the State Bank of Pakistan (SBP), the rupee concluded at Rs283.01, marking an increase of Re0.20.

    In the previous session, the rupee saw a marginal gain, settling at Rs283.21 against the US dollar.

    Meanwhile, in a noteworthy development, Pakistan secured $4.285 billion from various financing sources in the first five months (July–November) of the current fiscal year 2023–24.

    This represents a decrease from the $5.114 billion borrowed during the corresponding period in 2022–23, as disclosed by data from the Economic Affairs Division (EAD).

    On the global front, the US dollar experienced a 0.3 per cent decline against the yen, maintaining its position close to a four-month high of 140.95 reached last week.

    Additionally, the greenback lingered near approximately five-month lows against the Australian and New Zealand dollars.

    This was attributed to the strength of risk-sensitive currencies, driven by the anticipation that the US Federal Reserve might initiate interest rate adjustments as early as the beginning of next year.

    In the realm of commodities, oil prices stabilised on Tuesday as investors assessed the potential repercussions on oil supply arising from attacks by Yemen’s Iran-aligned Houthi militants on ships in the Red Sea.

    These attacks have disrupted maritime trade, compelling companies to reroute vessels. Notably, crude prices surged nearly 2 per cent on Monday due to concerns about trade disruptions through the Suez Canal, a vital shipping route that accounts for approximately 15 per cent of global shipping traffic.

    Brent crude declined by 12 cents to $77.83 per barrel.

    The US West Texas Intermediate crude for January, set to expire on Tuesday, experienced a decrease of 62 cents, reaching $71.85. In contrast, the more active February contract only incurred a marginal loss of 3 cents.

  • Gold prices surge in Pakistan: 24-karat soars to Rs217,600 per tola

    Gold prices surge in Pakistan: 24-karat soars to Rs217,600 per tola

    The price of 24-karat gold per tola witnessed a surge, rising by Rs400 and reaching Rs217,600 on Tuesday, as compared to its previous closing at Rs217,200.

    Similarly, the cost of 10 grammes of 24-karat gold also experienced an uptick, increasing by Rs343 to Rs186,557 from Rs186,214.

    Meanwhile, the rates for 10 grammes of 22-karat gold climbed to Rs171,011 from Rs170,696, as reported by the All Sindh Sarafa Jewellers Association.

    In contrast, both the per-tola and 10-gramme silver prices remained stable at Rs2,670 and Rs2,289.09, respectively.

    On a global scale, the price of gold saw an increment of $4, reaching $2,047 from $2,043, according to the Association.

    Simultaneously, the Pakistan Stock Exchange (PSX) witnessed a significant downturn in intra-day trading on Tuesday, with the benchmark KSE-100 index plummeting by over 2,600 points.

    The PSX reported a loss of 2,633 points, causing the 100 index to dip below the 63,000-point threshold, trading at 62,571 around 2:30 pm.

    This decline comes after a sustained bullish trend lasting over a month, which followed the successful conclusion of a staff-level agreement with the International Monetary Fund (IMF).

    Market analysts attribute the bearish trend to stocks in the exploration and production (E&P), fertiliser, and banking sectors.

    Throughout the session, profit-taking was evident, contributing to the index fluctuating by over 2,500 points.

  • Pakistan’s Fatima Sana signed contract in New Zealand

    Pakistan’s Fatima Sana signed contract in New Zealand

    Pakistani women cricketer Fatima Sana has signed a contract in New Zealand. Fatima Sana will represent Canterbury Magicians in the Women’s Super-Smash T20 league. She has been signed for the first six matches.

    Fast bowler Fatima Sana was on a tour of New Zealand with the national team when she signed the contract.

    Fatima said: “Playing T20 League in New Zealand is a good opportunity for me, I will try to play a full role for my team”.

    Fatima Sana has also played Caribbean Premier League (CPL) before.

  • US-led coalition to patrol Red Sea against Houthi attacks

    US-led coalition to patrol Red Sea against Houthi attacks

    The United States on Monday announced a 10-nation coalition to quell Houthi missile and drone attacks on ships transiting the Red Sea, with Britain, France, Bahrain and Italy among countries joining the “multinational security initiative.”

    “Countries that seek to uphold the foundational principle of freedom of navigation must come together to tackle the challenge posed by this non-state actor,” US Defense Secretary Lloyd Austin said in a statement.

    Iran-backed Houthi rebels have escalated attacks on tankers, cargo ships and other vessels in the Red Sea, imperiling a transit route that carries up to 12 percent of global trade.

    The security coalition, Austin said, will operate “with the goal of ensuring freedom of navigation for all countries and bolstering regional security and prosperity.”

    It includes the United States, United Kingdom, Bahrain, Canada, France, Italy, Netherlands, Norway, Seychelles and Spain, Austin said.

    Yemen’s Iran-backed Houthi rebels said earlier they had attacked two “Israeli-linked” vessels in the Red Sea in solidarity with Gaza, as more companies halt transit through the troubled but vital waterway.

    The attacks on the Norwegian-owned Swan Atlantic and another ship identified by the Houthis as the MSC Clara are the latest in a flurry of maritime incidents that are disrupting global trade in an attempt to pressure Israel over its war against Hamas militants.

    In a statement, the Yemeni rebels said they had carried out a “military operation against two ships linked to the Zionist entity” using naval drones.

    They vowed to “continue to prevent all ships heading to Israeli ports… from navigating in the Arab and Red Seas” until more food and medicine is allowed into Gaza.

    But the Swan Atlantic’s owner, Norway’s Inventor Chemical Tankers, said in a statement the ship was carrying biofuel feedstock from France to Reunion Island.

    It said the vessel has “no Israeli link” and was managed by a Singaporean firm, adding that the Indian crew were unharmed and the vessel sustained limited damage.

    British oil giant BP became the latest to suspend transit through the Red Sea on Monday, while Taiwan shipping firm Evergreen said it was suspending its Israeli cargo shipments with immediate effect.

    Frontline, one of the world’s largest tanker companies, also said it was rerouting ships and would “only allow new business” that could be routed via South Africa’s Cape of Good Hope.

    That route is far longer and uses more fuel.

    The Red Sea attacks have forced insurance companies to significantly increase premiums on ships, making it uneconomical for some to transit through the Suez Canal.

    Italian-Swiss giant Mediterranean Shipping Company, France’s CMA CGM, Germany’s Hapag-Lloyd, Belgium’s Euronav and Denmark’s A.P Moller-Maersk — the latter accounting for 15 percent of global container freight — have all stopped using the Red Sea until further notice.

    The attacks have become “a maritime security crisis” with “commercial and economic implications in the region and beyond,” Torbjorn Soltvedt of analysis firm Verisk Maplecroft told AFP.

    Monday’s attack took place as the Pentagon chief visited Israel after a stop in Bahrain, home base of the US Navy’s Fifth Fleet.

    “In the Red Sea, we’re leading a multinational maritime taskforce to uphold the bedrock principle of freedom of navigation. Iran’s support for Houthi attacks on commercial vessels must stop,” Austin said at a news conference.

    On Saturday, a US destroyer shot down 14 drones in the Red Sea launched from rebel-controlled areas of Yemen, the US military said.
    Britain said one of its destroyers had also brought down a suspected attack drone in the area.

    Rebel spokesman Mohammed Abdul Salam said neutral Oman had launched mediation efforts to safeguard shipping using the waterway.

    “Under the sponsorship of our brothers in the Sultanate of Oman, communication and discussion continue with a number of international parties regarding operations in the Red Sea and Arabian Sea,” he said on X, formerly Twitter.

    The Gaza war broke out when its rulers Hamas launched an unprecedented attack on Israel on October 7, killing around 1,140 people and kidnapping some 250, according to an AFP tally based on official Israeli figures.

    Gaza’s health ministry says Israel’s military response has killed more than 19,450 people, mostly women and children.

  • Pope Francis gives approval for priests to bless same-sex couples

    Pope Francis gives approval for priests to bless same-sex couples

    A document released by the Vatican states that Pope Francis, the head of the Catholic Church, has formally cleared the way for priests to bless same-sex couples without subjecting them to “an exhaustive moral analysis”.

    The Pope, however, has maintained that marriage is a lifelong sacrament that can only be between a man and a woman. Blessings can be offered because, “Ultimately, a blessing offers people a means to increase their trust in God,” the document said.

    The document laid out the conditions in which a union like this can be blessed. Blessings should not be offered at the same time as a civil union or with the garb traditionally used in weddings.

    Another condition is that the priest should use “pastoral charity” when blessing such couples.

    Monday’s announcement is not a total surprise as the Pope has hinted in the past that he might formally approve same-sex blessings. It has also reversed a 2021 ruling which condemned same-sex unions as a “sin”.

  • NODWIN Gaming partners with Pakistan’s Trans Group to elevate E-Sports

    NODWIN Gaming partners with Pakistan’s Trans Group to elevate E-Sports

    Pakistan’s Trans Group and NODWIN Gaming, one of India’s top E-Sports media businesses, have formed a strategic agreement to address the gaps in Pakistan’s E-Sports infrastructure and opportunities. Trans Group wants to elevate the overall E-Sports landscape in Pakistan via the NODWIN Gaming alliance.

    On December 18, 2023, Akshat Rathee, co-founder and managing director of NODWIN Gaming, and Rao Usman Hashim, Chief Operating Officer (COO) of Trans Group finalized a collaboration agreement. Trans Group hopes to use the cooperation to fully utilize Pakistan’s potential in the E-Sports industry.

    Through their collaboration, Trans Group and NODWIN Gaming hope to support the growth of the E-Sports industry in Pakistan by bringing in new intellectual property and utilizing their specialized knowledge to give a platform to prospective professionals.

    Akshat Rathee expressed enthusiasm about the company’s collaboration with Trans Group:

    “We are thrilled to embark on this collaboration with Trans Group. This partnership symbolizes NODWIN Gaming’s commitment to advancing the E-Sports landscape in emerging markets across the world. Together with Trans Group, we aim to create an unparalleled fusion of expertise and innovation, elevating gaming experiences and introducing exciting new dimensions to the ever-growing gaming community in the subcontinent. This collaboration is a testament to our shared vision of not just shaping the future of E-Sports but also fostering a vibrant gaming culture that resonates with fans and brands alike across the region”.

    Trans Group’s COO, Rao Usman Hashim, discussed the goals both companies have set for the development of the Pakistani E-Sports industry, saying:

    “Trans Group is proud to be a pioneer in the E-Sports industry of Pakistan. TransGroup cherishes its sports partnerships across the globe and we are thrilled to start the E-Sports revolution in the region with NODWIN. We are determined to bring the best events, players, and IPs closer to the local fan base and will strive to establish and strongly promote a robust E-Sports landscape in Pakistan in the coming years”.

    NODWIN gaming is one of the biggest E-Sports organization in India. They have organized many Player Unknown Battlegrounds (PUBG) Mobile tournaments in India and South Asia.