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  • PSX rebounds as Pak-India tensions ease, interest rates expected to fall

    PSX rebounds as Pak-India tensions ease, interest rates expected to fall

    The Pakistan Stock Exchange (PSX) has recorded a respectable bull run as the benchmark index of the exchange, the KSE-100, witnessed an early rally that maintained its momentum throughout the day. According to reports, the rebound was driven by a surge in investor confidence amid signs that tensions between Pakistan and India may soon de-escalate.

    The US State Department revealed that Secretary of State Marco Rubio was in contact with both Prime Minister Shehbaz Sharif and Indian Foreign Minister Subrahmanyam Jaishankar on Wednesday to smooth things over between both nuclear-armed nations. With Thursday, May 1 being a public holiday marking Labour Day, trading at the PSX remained suspended; however, the effects of the de-escalation were felt on Friday.  

    The KSE-100 index hit an intraday low of 112,820.07 points at approximately 9:38 AM, after which bullish sentiments took hold of the market, causing the index to rally to an intraday high of 114,546.87 points.

    However, a marginal drop was witnessed in the index before trading hours ended, causing it to close the day at a respectable 114,113.93 points. For reference, the KSE-100 closed at 111,326.57 points on Wednesday, after which the index recorded a growth of 2.50 percent during trading hours on Friday, allowing for a staggering 2,787.36 point rise. 

    Every single index remained in the green with the All-share index (ALLSHR) experiencing a 2.18 percent growth rate, which translates into a 1,516.25 point gain for the index. Unlike the KSE-100, which tracks the performance of the 100 largest and most liquid companies, the ALLSHR index records the performance of all publicly listed companies on the PSX.

    The PSX has displayed great average returns for its investors over the past year, and with the International Monetary Fund’s (IMF) board approval scheduled for May 9, indexes on the exchange continue to climb. 

    Moreover, investors expect a policy rate cut ranging from 50 basis points (bps) to 100 bps. A drop in interest rates could allow investors to pour in a greater amount of funds into the domestic capital market, owing to lower rates offered by local financial markets.

    Data from the PSX reveals that the ALLSHR index has shot up by a staggering 53.71 percent over just one year, with the KSE-100 recording an even greater rise of 61.50 percent over a one-year period – a growth rate which many would categorise as nothing short of meteoric.

    A vast array of companies witnessed a rise in share prices with Kohinoor Power Company Limited (KOHP) and Dewan Mushtaq Textile Mills Limited (DMTM) winning big during trading hours, to the tune of growth rates that sat at 16.07 percent (KOHP) and 14.37 percent (DMTM). 

    However, not every publicly listed stock witnessed an improvement, as many companies witnessed sharp declines. Of these declining companies, the one that fared the worst during intra-day trading was The Pakistan General Insurance Co. Ltd (PKGI), which posted a 10.07 percent decline in its position.

    Trading volume of regular stocks stood at an impressive 372,363,708 shares, translating into a total value of over 23.2 billion rupees.

  • Babar Azam, Mohammad Rizwan’s Instagram accounts blocked in India

    Babar Azam, Mohammad Rizwan’s Instagram accounts blocked in India

    In the latest episode of Indian insecurity over Pakistani media channels, celebrities and influencers’ penetration and popularity among Indian audiences, the country has now blocked the Instagram accounts of star Pakistani cricketers Mohammad Rizwan and Babar Azam.

    As per the details, India’s Ministry of Home Affairs has ordered a ban on a number of Pakistani YouTube channels and social media accounts.

    While several accounts, including those of Pakistani news outlets, celebrities and cricketers, were banned over the past 48 hours, now, the Indian government has gone on to block in the country the official social media accounts belonging to incumbent Pakistan captain Rizwan and batting sensation Babar.

    Earlier, India also blocked the YouTube channels of former captains Rashid Latif and Shahid Afridi, as well as speedster Shoaib Akhtar and former cricketer Basit Ali.

    India has cited “national security concerns” as the reason for blocking the content amid escalating tensions between the two nuclear-armed neighbours over the deadly Pahalgam attack in held Kashmir last week.

    At least 26 tourists were killed in a gun attack on April 22, following which New Delhi continues to hurl baseless allegations against Pakistan. The allegations, which Islamabad has denied with proof, have led to war rhetoric from across the border besides global calls for peace and restraint.

  • Lahore horror: Teenage brothers kill mother, sister for ‘honour’ with father’s help

    Lahore horror: Teenage brothers kill mother, sister for ‘honour’ with father’s help

    Two teenaged brothers have brutally murdered both their mother and sister in the name of so-called ‘honor’ on __ in Lahore’s Kahna,  leaving the entire community in disbelief.

    The victims — Rukhsana and her daughter Ramsha — were killed with a sharp-edged weapon. Police have confirmed that the attack was so brutal that both women died on the spot.

    According to officials, the suspects — 15-year-old Ali Hassan and 17-year-old Zain — committed the heinous act with the assistance of their father, Yousuf. The murders took place in the Suay Asil area, and all three suspects were arrested by police within an hour of the crime.

    DIG Operations Faisal Kamran has taken notice of the case, instructing police to lodge an FIR on behalf of the state and to investigate the matter with utmost seriousness.

    It is important to note that just two months ago, a case had been registered after the mother and daughter allegedly ran away from home. They had only returned a day before the attack — and were tragically killed soon after by the teenage boys.

  • Nadia Khan slams Fawad, Hania, others for not calling India out over Pakistan allegations

    Nadia Khan slams Fawad, Hania, others for not calling India out over Pakistan allegations

    Renowned host Nadia Khan has stirred a fiery debate on patriotism during her popular morning show Rise and Shine on Entertainment 365.

    Following the Pahalgam incident in Indian Illegally Occupied Kashmir, for which India has blamed Pakistan without providing concrete evidence, Nadia took a bold stance and openly questioned the loyalty of leading Pakistani celebrities.

    She called out actors such as Fawad Khan, Hania Aamir, Danish Taimoor, and Mawra Hocane for commenting on the incident without, in her view, understanding the full picture.

    “It is India’s deliberate move to stop films from releasing and to get cricket events cancelled,” she said on her show. “I need an answer from all Pakistani celebrities… why don’t you feel saddened when India stages such incidents and blames Pakistan?”

    Nadia expressed disappointment that celebrities chose to speak up without questioning India’s narrative.

    “You are answerable, why didn’t you question India for staging the Pahalgam incident to shift the blame onto Pakistan?” she asked.

    Referring to the silencing of dissenting Indian voices, she made reference to the late actor Om Puri: “Have you forgotten Om Puri, who came to Pakistan, praised the country, returned and was murdered?”

    She praised fellow artist Mishi Khan for standing up, saying, “At least someone had the courage to speak up.”

    Nadia criticised what she described as blind support from celebrities, urging them to recognise Pakistan’s ongoing struggles.

    “You are Pakistani first. Look at the current circumstances. When you don’t know something, don’t speak. India wants to stop Pakistan’s water, that’s a bigger issue.”

    She also drew parallels between Kashmir and Palestine: “It’s the same thing Israel is doing in Palestine, India is doing in Kashmir. We should raise our voice.”

    Nadia applauded athlete Arshad Nadeem for refusing to compete in India, calling it “a powerful statement.”

    “We are a country of 250 million. We don’t need anyone’s support. Our youth, our dramas, our engineers, and doctors, they are our strength.”

    She reminded that celebrities that “You are here because of Pakistani dramas. Don’t forget that. Why are you chasing Indian approval? Why are you tweeting for them?”

    She concluded by saying the public isn’t questioning their patriotism, but their silence and weak response.

    “This is criminal negligence. You are praising the enemy. Don’t you know who’s doing this? It’s India. Not even outsiders can enter that prison-like place.”

    She advised, “If you’re scared about not getting work, remember there’s plenty of work in Pakistan. The world watches our dramas. Don’t be so worried now.”

  • Mohsin Naqvi summoned for briefing on PSL, stadium renovations

    Mohsin Naqvi summoned for briefing on PSL, stadium renovations

    The Standing Committee on Cabinet Secretariat has once again summoned Pakistan Cricket Board (PCB) Chairman Mohsin Naqvi. The committee has requested a detailed briefing on the performance of the Pakistan Super League (PSL) as well as an account of the expenses incurred in renovating cricket stadiums in Karachi and Lahore.

    In addition, Mohsin Naqvi will brief the committee on the overall performance of the PCB over the past six months.

    The PCB spent approximately PKR 12 billion on upgrading stadiums in Karachi, Lahore, and Rawalpindi in preparation for the ICC Champions Trophy 2025. These renovations were aimed at bringing the venues up to international standards.

    Both the National Stadium in Karachi (NSK) and Gaddafi Stadium in Lahore were handed over to the PCB in early February after major upgrades, just two weeks before the start of the Champions Trophy, which kicked off on February 19.

    Key upgrades included new seating arrangements, digital scoreboards, renovated washrooms, a pedestrian bridge, modern LED floodlights, and enhanced dressing rooms. A new five-storey building at NSK was constructed, housing physio rooms, anti-corruption units, and media facilities. Gaddafi Stadium received similar treatment, including a light show setup for fan entertainment during matches.

    These changes were tested during a pre-tournament tri-series involving Pakistan, South Africa, and New Zealand, and aimed to improve the experience for both players and spectators.

    The Champions Trophy concluded on March 9, with India defeating New Zealand by four wickets in the final at Dubai International Cricket Stadium.

    Now, with the tournament concluded, the committee seeks transparency on how the significant funds were spent and how the PCB has managed its operations during this high-stakes period.

  • Pakistan’s trade deficit with Middle East hits $10.5 billion over fuel imports

    Pakistan’s trade deficit with Middle East hits $10.5 billion over fuel imports

    Pakistan’s economic woes continue as the country’s trade deficit with the Middle East has widened by 10.11 percent to reach a staggering $10.502 billion in the first nine months of fiscal year (FY) 2024-25. According to data compiled by the State Bank of Pakistan (SBP), Pakistan’s trade deficit with the Middle East has worsened with the sharp rise in the import of petroleum products, accompanied by paltry export growth.

    The surge in petroleum consumption has reportedly caused concern to lawmakers in Islamabad, as high imports hurt Pakistan’s current account balance. Despite authorities raising the petroleum development levy significantly, domestic consumption remains high, which positively impacts the demand for imported fuel.

    As per reports, crude oil imports rose by a whopping 14.61 percent during the first eight months of FY 2024-25 compared to the same period in FY 2023-24. The demand for petroleum shrank in the previous FY because of a surge in domestic prices. Reports indicate that this allowed for Pakistan’s trade balance with the Middle East to improve by 20.47 percent in FY 2023-24.

    Compared to import growth, exports have grown sluggish, reportedly increasing by 4.47 percent to settle at $2.381 billion in the first nine months of FY 2024-25.

    Analysts have outlined how export growth this FY to the region has been poor, comparing it to the whopping 35.23 percent export growth Pakistan was able to achieve in FY 2023-24.

    Lawmakers intend to plug the trade gap and recently inked an agreement with the Gulf Cooperation Council (GCC) to boost commercial activities. Details from reports indicate that the agreement will serve to remove barriers to free trade.

    This could prove to be beneficial for exporters as Pakistani goods are sought after in the Middle East. One of the primary factors driving demand for Pakistani goods is the large expatriate community that lives in countries such as Saudi Arabia, Qatar and the UAE.

    Experts believe that if domestic fuel demand remains high, the federal government could attempt to raise the levy to curb excessive imports. Alternatively, Pakistan could consider the exploration and extraction of its own petroleum, which may significantly improve the cash-strapped economy’s balance of trade.

    However, in the short run, the government can only rely on measures such as import controls and higher taxation levels to ensure that the trade deficit with the Middle East does not grow sizably.

  • ‘No sign of war’: Faisal Rehman reaches Pak-India border, says has prepared tea for Indians

    ‘No sign of war’: Faisal Rehman reaches Pak-India border, says has prepared tea for Indians

    Renowned Pakistani actor Faisal Rehman has shared a video of himself at the Pakistan-India border on social media amid the ongoing tension between the two countries following the April 22 attacks in Pahalgam, Indian Illegally Occupied Kashmir.

    In his video message uploaded on Instagram, the actor said, “I am currently standing at the Pakistan-India border. I came here to witness the atmosphere of war, but there is a sense of peace here. There’s no sign of war from afar.”

    He continued, “There’s no sound, no sign of conflict here, just the sound of a tube well.”

    As evening approached, Faisal Rehman added, “I am sitting just two and a half kilometres away. The Indian border barriers are visible from here. On one side is the Indian village of Jaman, and on the other is the Pakistani village of Bedian.”

    Rehman noted that the clouds of war between Pakistan and India were beginning to clear somewhat, signalling a shift in the atmosphere.

    In his closing message, Faisal Rehman shared a hopeful plea: “I want to tell the Indians to stop the war. What’s the point of war? And if there is a war, I’ve prepared tea. I’ve heard that Indians love tea.”

  • Hope that India’s response to Pahalgam does not lead to wider regional conflict: US Vice President Vance

    Hope that India’s response to Pahalgam does not lead to wider regional conflict: US Vice President Vance

    US Vice President JD Vance has expressed hope that India’s response to the April 22 attack in Pahalgam in occupied Kashmir does not lead to a wider regional conflict.

    “Our hope here is that India responds to this terrorist attack in a way that doesn’t lead to a wider regional conflict,” the US Vice President said in an interview with FOX News on Thursday.

    Following last week’s attack in Pahalgam, a tourist spot in illegally occupied Kashmir, which had claimed the lives of 26 people, including a Nepalese national, India implied cross-border links without offering evidence or conducting an investigation. 

    Condemning the attack, Pakistan has strongly rejected the accusations and called for a credible, transparent and neutral international investigation into the incident.

    Asserting that the US is in close contact with friends in India and Pakistan, Vance said, “We hope frankly that Pakistan, to the extent that they are responsible, cooperate with India to make sure the terrorists, sometimes operating in their territory, are hunted down and dealt with. That’s how we hope this unfolds.”

    Vance’s statement followed a question asked by the host whether the US worried about India and Pakistan, as tensions were escalating after the Pahalgam attack.


    Meanwhile, the Pakistan ambassador to the US, Rizwan Saeed Sheikh, in an interview with ABC News on Thursday, said that India has yet to provide any evidence related to the attack. 

    He made it clear that Pakistan desires peace, but this should not be misconstrued as weakness. “…We want peace with dignity, but it should not in any way be seen as a sign of weakness that we are interested in peace,” he added.

    He cautioned, “On our part, what we can do is exercise restraint, but if there is an attack on our territory, Pakistan will respond with full force and all that we have within our army. We do not want to initiate anything, but in a nuclear neighbourhood, if it gets started, nobody knows where it goes.”

    On Wednesday, the US State Department said that the US Secretary of State, Marco Rubio, urged Pakistan and India to work together to ease tensions.


     
    Rubio conveyed the message in separate calls with Prime Minister (PM) Shehbaz Sharif and Indian External Affairs Minister S. Jaishankar.


     
    According to separate statements issued by the US State Department after the calls, the US Secretary of State called on Pakistan to cooperate in probing the attack in Pahalgam.

    US State Department spokesperson Tammy Bruce said that the Secretary of State encouraged Pakistan to work with India to ease tensions, restore direct communication, and promote peace and security in South Asia.


     
    “The Secretary spoke of the need to condemn the terror attack on April 22 in Pahalgam,” Bruce said, adding that both leaders reaffirmed their continued commitment to holding terrorists accountable for their heinous acts of violence.

  • Ayesha Omar heads into Turkish forests in search of Zen

    Ayesha Omar heads into Turkish forests in search of Zen

    Ayesha Omar’s trip to Turkey  has taken a peaceful turn after a fun-filled few days. The Bulbulay actor shared a photo carousel on Instagram showing her and her travel buddies hiking deep into a forest, all in search of some calm.

    “We’re going in search of Zen after four days of wedding crazies,” she wrote. “We’ve got to take it as it comes and ride with it. Just give us a forest and some screaming kids.”

    Instagram Post

    This post is just one of many photos and videos Ayesha has shared since she flew to Turkey to attend the wedding of her close friend, actor Anoushey Ashraf. The glamorous wedding celebrations took place in the second half of April, and Ayesha made sure to capture and share every beautiful moment.

    In an earlier post, the Karachi Se Lahore actor wowed fans in a bubblegum pink lehenga by designer Nomi Ansari. The outfit was covered in golden sequins and paired with a strappy crop top, a sparkly sheer dupatta, and a cute drawstring handbag — her choice for Anoushey’s shendi in Istanbul, a mix of shaadi and mehndi festivities.

    She also revealed a fun detail in her caption, “Candy crushing and obsessing. While sneaking. (Only sneakers with the lehenga for now.)”


    The eye-catching outfit turned out to be the only one she had on hand after a luggage mishap during her journey.

    “Emirates misplaced my luggage in transit and the only thing I have is this candy crush. Allah is the best planner,” she shared in another post.


    In a video, Ayesha joyfully twirled in her pink lehenga — the only piece of clothing that made it with her to Turkey — and thanked the designer by tagging him. She also gave credit to Frieha Altaf, who filmed the clip, writing, “capturing this and always cheering us on.”


    From wedding glam to forest hikes, Ayesha Omar is turning every moment of her Istanbul trip into an adventure worth watching — with style, sneakers, and a smile.

    Instagram Post
  • ‘I didn’t say this’: Hania Aamir denies ‘fake statement’ on Pahalgam attack

    ‘I didn’t say this’: Hania Aamir denies ‘fake statement’ on Pahalgam attack

    Renowned Pakistani actor Hania Aamir has strongly denied a fake statement being circulated on social media in her name regarding the April 22 Pahalgam attack in Indian Illegally Occupied Kashmir.

    The viral post falsely implies that Hania blamed Pakistan’s military for the attack and made a direct plea to the Indian prime minister, asking him to distinguish between civilians and “Islamist terrorists”.

    Responding to the controversy, Hania took to Instagram and clarified the situation in a detailed story.

    “Recently, a statement has been falsely attributed to me and is being widely circulated on social media. I want to address this directly: I did not make this statement, and I do not endorse or align with the words being linked to me. It is entirely fabricated and misrepresents who I am and what I believe,” she wrote.

    She also expressed sympathy for the victims of the attack, saying: “That being said, this is a deeply sensitive and emotional time. My heart goes out to the innocent lives lost and the families affected by the recent tragedy. Pain like this is real, and it deserves empathy, not politicisation.”

    Urging people not to blame entire communities for the actions of a few, she added: “The actions of extremists do not represent an entire nation or its people. Assigning blame without proof only deepens divides and distracts from the real need for compassion, justice, and healing.”

    Hania ended her statement with a call for kindness and fact-checking: “Let us honour those impacted by choosing empathy, truth, and togetherness. I remain committed to spreading positivity and respect in all that I do.”

    The fake statement also accused India of banning the entire Pakistani entertainment industry and pleaded with the Indian prime minister to stop taking action against innocent citizens.

    Hania’s Instagram account is among several Pakistani celebrities’ accounts recently blocked in India after the 22 April Pahalgam attack. India, without any solid evidence, has been blaming Pakistan for the attack, whereas Pakistan has officially dismissed the claim.