LAHORE: Confirming participation of the national team in the forthcoming Asian Champions Trophi in India, the Pakistan Hockey Feder­ation has sought a no-objection certificate from the Pakistan Sports Board in order to proceed with the other formalities. The continental tournament takes place in Chennai from August 3 to 12 and PHF secretary Haider Hussain said that participation in the event …

RAWALPINDI: The Twenty20 battle is now history for both Pakistan and New Zealand as they launch a One-day International series starting in Rawalpindi on Thursday which serves as a key build-up to this year’s World Cup. The five-match rubber offers both the teams the opportunity to test each other’s strengths and weaknesses ahead of the World Cup being hosted by …

WASHINGTON: Days after Pakistan placed its first order for discounted Russian oil, the Biden administration indicated that it will not oppose the deal. “Look, each country is going to make its own sovereign decisions as it relates to its energy supply,” a US State Depart­ment spokesperson told reporters in Washington on Tuesday afternoon when asked to comment on Pakistan’s decision. …

ISLAMABAD: As major debt sustainability indicators deteriorated over the first half (July-December) of the current fiscal year, the government on Wednesday feared the gross financing needs to remain high, posing several liquidity risks due to high-interest rates and pressure on the external account with average inflation at 28.5 per cent this year and staying stubborn at 21pc even in next …

KARACHI: Summit Bank Ltd, one of the smallest commercial lenders in terms of net assets, said on Wednesday a UAE investor has become its majority shareholder. The announcement follows the injection of fresh equity to the tune of Rs10 billion from Nasser Abdulla Hussain Lootah, a national of the Gulf nation, who subscribed to 3.98bn new shares of the bank …

KARACHI: Bulls took charge at the Pakistan Stock Exchange following extended Eid holidays, with the benchmark of representative shares opening on the higher side on Wednesday. Arif Habib Ltd said the KSE-100 index hit an intraday high of 356.07 points as investors remained hopeful for the release of a delayed tranche of the International Monetary Fund’s $7 billion loan programme. …

KARACHI: The rupee maintained a stable outlook against the dollar in the interbank market on Wednesday while the open market witnessed a rush as trading resumed after the long six-day closure. The State Bank of Pakistan reported the dollar lost eight paise and settled at Rs283.39 from the overnight closing of Rs283.47. Currency dealers said the businesses were still in …

NEW YORK: A dual Lebanese-Belgian citizen accused by the United States of financing Hezbollah has been extradited from Romania and faced sanctions evasion and money laundering charges on Wednesday in Brooklyn federal court, prosecutors said. Mohammad Bazzi, who Washington says has provided millions of dollars to Hezbollah, was arrested in February on charges of covertly selling real estate he owned …

NEW YORK: The writer suing Donald Trump for allegedly raping her nearly 30 years ago told jurors at a civil trial on Wednesday that the former US president sexually assaulted her and defamed her by lying about it. “I’m here because Donald Trump raped me, and when I wrote about it, he lied and said it didn’t happen,” E. Jean …

ISLAMABAD: Competition for workers is now rising as populations are aging at an unprecedented pace in rich and middle-income countries making these countries increasingly reliant on migration to realise their long-term growth potential, according to the World Development Report 2023, released by the World Bank on Wednesday. The report, titled ‘World Development Report 2023: Migrants, Refugees, and Societies’, identifies this …