Blog

  • 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.

  • ‘Just staggering’: UN says households waste one billion meals a day

    ‘Just staggering’: UN says households waste one billion meals a day

    Paris, France – Households around the world threw away one billion meals every single day in 2022 in what the United Nations on Wednesday called a “global tragedy” of food waste.

    More than $1 trillion worth of food was binned by households and businesses at a time when nearly 800 million people were going hungry, the UN’s latest Food Waste Index Report says.

    It said that more than 1 billion tonnes of food — almost one fifth of all the produce available on the market — was wasted in 2022, most of it by households.

    “Food waste is a global tragedy. Millions will go hungry today as food is wasted across the world,” Inger Andersen, executive director of the UN Environment Programme, said in a statement.

    Such wastage was not just a moral but “environmental failure”, the report said.

    Food waste produces five times the planet-heating emissions of the aviation sector, and requires huge tracts of land be converted for growing crops that are never eaten.

    The report, co-authored with non-profit organisation WRAP, is just the second on global food waste compiled by the UN and provides the most complete picture to date.

    As data collection has improved the true scale of the problem has become much clearer, said Clementine O’Connor from UNEP.

    “The more food waste you look for, the more that you find,” she told AFP.

    Billion meals binned

    The report said that the “billion meals” figure was a “very conservative estimate” and “the real amount could be much higher”.

    “For me, it’s just staggering,” Richard Swannell from WRAP told AFP.

    “You could actually feed all the people that are currently hungry in the world — about 800 million people — over a meal a day just from the food that is wasted every single year.”

    He said bringing together producers and retailers had helped reduce waste and get food to those who need it, and more such action was needed.

    Food services like restaurants, canteens and hotels were responsible for 28 percent of all wasted food in 2022, while retail like butchers and greengrocers dumped 12 percent.

    But the biggest culprits were households, which accounted for 60 percent — some 631 million tonnes.

    Swannell said much of this occurred because people were simply buying more food than they needed, but also misjudging portion sizes and not eating leftovers.

    Another issue was expiration dates, he said, with perfectly good produce being trashed because people incorrectly assumed their food had gone off.

    A lot of food, particularly in the developing world, was not so frivolously wasted, but instead lost in transportation or spoiling because of a lack of refrigeration, the report said.

    Contrary to popular belief, food waste is not just a “rich country” problem and can be observed across the world, the report said.

    Hotter countries, too, generated more waste, possibly due to higher consumption of fresh foods with substantial inedible parts.

    ‘Devastating effects’

    Businesses also underestimate the cost of wasting food to their bottom line because it was cheap to dump unused produce in landfill.

    “It’s quicker and easier to throw it away at the moment because the waste fee is either zero or very low,” O’Connor said.

    Food waste had “devastating effects” on people and the planet, the report said.

    Converting natural ecosystems for agriculture is a leading cause of habitat loss yet food waste takes up the equivalent of nearly 30 percent of the world’s farming land, the report said.

    “If we can reduce food waste across the entire of the supply chain, we can… minimise the need to have land set aside that’s growing stuff that’s never used,” Swannell said.

    It is also a key driver of climate change, generating up to 10 percent of annual greenhouse gas emissions.

    “If food waste was a country, it would be the third biggest emitter of greenhouse gas emissions on the planet behind the US and China,” Swannell said.

    But people rarely think about it, he said, despite the opportunity to “reduce our carbon footprint, reduce our greenhouse gas emissions, and save money, simply by making better use of the food that we’re already buying”.

  • 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.

  • ‘Gentleman’ promises to a gangster ride with its cool cast

    ‘Gentleman’ promises to a gangster ride with its cool cast

    The highly anticipated drama serial, ‘Gentleman’, has finally revealed its impressive cast and is gearing up to release a teaser that promises to be spectacular. Produced by Samina Humayun Saeed and Sana Shahnawaz, written by the Khalil ur Rehman Qamar, ‘Gentleman’ is directed by Haissam Hussain, making it a project to watch out for.

    Humayun Saeed and actress Yumna Zaidi take the lead roles, with a host of other big names such as Adnan Siddiqui, Sohai Ali Abro, and Ahmed Ali Butt playing pivotal characters. Together, they are set to bring to life a gripping gangster saga.

    With promises of drama, intrigue, and outstanding performances, Gentleman aims to make a significant impact on television screens when it hits Green Entertainment.

  • 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.