Karachi to remain mostly cloudy, rain-bearing system shifts axis to K-P, Punjab
The chance for significant rainfall in Karachi decreased on Thursday after the western disturbance, which caused extremely heavy rainfall in Gulf countries and Balochistan, shifted its axis towards Khyber-Pakhtunkhwa and Punjab. According to the Pakistan Meteorological Department (PMD), the port city will remain mostly overcast today with a possibility of scattered light showers and the […]
SBP penalises 7 more banks for forex violations
KARACHI: Pakistan’s central bank has once again found at least seven commercial banks, including leading ones, to have violated instructions on transactions in foreign currencies, imposing financial penalties totalling Rs775.54 million on as many as nine banks in the quarter ending March 31, 2024. The central bank has tightened its oversight of foreign exchange dealings […]
PM urges Chinese firms to embrace local coal
ISLAMABAD: Prime Minister Shehbaz Sharif reaffirmed the government’s unwavering commitment to the safety of Chinese workers in Pakistan during a meeting with a delegation from the Shanghai Electric Group, led by Chairman Wu Lei. He assured them of all necessary support to facilitate Chinese investors in expanding ongoing projects. Emphasizing the shift to local coal, […]
Juventus ordered to pay Ronaldo 9.7m euros
ROME: Juventus must pay Portuguese star Cristiano Ronaldo 9.7 million euros ($10.4 million) in back wages for the 2020-21 season, the Italian courts announced on Wednesday.The Court of Arbitration, to which Ronaldo appealed, “orders Juventus Turin to pay the sum of 9,774,166.66 euros”, plus interest and procedural costs, it stated in its decision.The sum equates […]
Bird strike forces PIA flight to make technical landing
KARACHI: A Pakistan International Airlines (PIA) flight bound for Skardu from Karachi was forced to make an unscheduled landing in Multan on Wednesday due to a bird strike. The national carrier’s Flight PK-455 took off from Karachi at 6:10 am on Wednesday, according to sources familiar with the matter. However, the Airbus aircraft encountered a […]
UAE reels for a third day after record-breaking storm
DUBAI: The United Arab Emirates was still grappling on Thursday with the aftermath of a record-breaking storm this week that brought much of the country to a standstill. In Dubai, operations at the airport, a major travel hub, remain disrupted after Tuesday’s storm flooded the runway, resulting in flight diversions, delays and cancellations. The airport […]
Stocks extend losses on profit-taking
KARACHI: Pakistan Stock Exchange (PSX) on Wednesday continued its gradual movement towards south as investors opted for profit-booking after the market rose to its intra-day high above 70,700 points. As some investors were scared to invest at high levels, the market began the day on a negative note and the KSE-100 index dipped to the […]
Provinces told to step up wheat purchase
ISLAMABAD: Federal National Food Security Minister Rana Tanveer has sent a letter to the chief ministers of Punjab, Sindh, Khyber-Pakhtunkhwa, and Balochistan to speed up the government procurement of wheat keeping in mind the sensitivity of the wheat crop, production, storage, smuggling, and different types of weather in the provinces. Tanveer, who is also the […]