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PSX reclaims 180k level, surges 2,932 points

[ KARACHI: Pakistan Stock Exchange (PSX) posted strong gains on Wednesday, with the benchmark KSE-100 index reclaiming the 180,000 level amid broad-based buying supported by global cues and optimism about Pakistan’s external financing outlook. The KSE-100 settled at 180,014.93, higher by 2,931.71 points, or 1.66%, compared to the previous close at 177,083.22. During the day, … Read more

KPT, PQA slash transshipment costs

[ ISLAMABAD: Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry has announced a unified transshipment incentive package offering major concessions at Karachi Port and Port Qasim to cut cargo handling costs and attract regional shipping traffic, according to a statement issued on Wednesday. The package, jointly introduced by the Karachi Port Trust (KPT), Port … Read more

AJK observes Youm-e-Istehsal

MUZAFFARABAD: Azad Jammu and Kashmir (AJK) observed Youm-e-Istehsal-e-Kashmir on Wednesday to mark seven years since India revoked the special constitutional status of Indian Illegally Occupied Jammu and Kashmir (IIOJK), with rallies, protest demonstrations and public gatherings held across AJK. The main event was held in Muzaffarabad where participants took out a protest rally and chanted … Read more

Austria hits record temperature

BUDAPEST: The temperature in Austria climbed to a record high on Wednesday, while Hungarians curbed power use as the latest heatwave and drought took their toll on central and southern Europe. Europe, the world’s fastest warming continent, has been ravaged by record-breaking heat and destructive wildfires this summer, with France and Spain particularly hard hit … Read more

Tension eases as Iran, Oman seal Hormuz deal

• Two countries agree on shipping route • Proposed agreement would give Iran control of inbound traffic • Any contr DUBAI/RIYADH: Iran and Oman have reached an understanding on the geographic coordinates for a shipping route through the Strait of Hormuz, and a joint announcement is being finalised, provided certain third parties do not interfere, … Read more