LAHORE: The Pakistan hockey squad on Saturday left for Islamabad from where it will fly out to the UK on Sunday to participate in the Commonwealth Games being held in Birmingham from July 28 to Aug 8. The Pakistan Hockey Federation (PHF), which is currently going through a crunch time due to its conflict with the Pakistan Sports Board (PSB) …

GALLE: Pakistan coach Saqlain Mushtaq admitted his side will miss injury-hit pace spearhead Shaheen Shah Afridi in the second and final Test against Sri Lanka starting from Sunday but hoped other bowlers will step up as his side look to seal a series victory following a morale-boosting win in the opening game. Shaheen’s absence due to a knee injury will …

Pakistan’s Arshad Nadeem has placed fifth in the World Championships javelin final in Oregon, becoming the first Pakistani athlete to achieve a top-eight finish. According to a report in World Athletics, Grenada’s Anderson Peters beat Olympic champion Neeraj Chopra to retain his world javelin title on Saturday, saving his best for last with a throw of 90.54 metres after leading the …

NEW YORK: Global equity funds recorded their biggest weekly outflow in five weeks in the week to July 20, on investor caution ahead of crucial central bank meetings in which rate hikes are expected to be announced. According to Refinitiv Lipper, investors offloaded a net $13.79 billion worth of global equity funds, marking the biggest weekly outflow since June 15. …

KARACHI: The import bill of completely and semi-knocked down (CKD/SKD) kits of locally assembled cars hit an all-time high of $1.7 billion in FY22 compared to $1.11bn in the preceding year, a jump of 52 per cent owing to escalating demand for vehicles and low localisation. Impressive CKD/SKD import figures also justify 55pc in car sales in FY22 to 234,180 …

Acting Governor State Bank of Pakistan (SBP) Dr Murtaza Syed on Saturday said Pakistan’s $33.5 billion external financing needs were fully met for financial year 2022/23, adding that “unwarranted” market concerns about its financial position will dissipate in weeks. Fears have risen about Pakistan’s stuttering economy as the rupee fell nearly eight per cent against the US dollar in the …

ISLAMABAD: Pakistan and Afghanistan have reached an agreement to facilitate bilateral trade, especially coal for use in power generation to bridge the shortfall in electricity production in the wake of the high cost of furnace oil in the international market. Coal is already being imported in small quantities for power generation via Chaman border station in Balochistan. Under the new …

State Bank of Pakistan (SBP) Acting Governor Dr Murtaza Syed has refuted talk that the country was headed towards an economic catastrophe, saying “Pakistan is not vulnerable as [is] being assumed amid burgeoning global inflation”. Dr Syed made this observation during a podcast conducted by the SBP on Saturday discussing the overall economic situation. This is the second time within a span of 24 …

KARACHI: Keeping in view the forecast of heavy rains in the metropolis from Sunday (today), Sindh Chief Minister Syed Murad Ali Shah on Saturday visited different areas of the metropolis to inspect the repair works and cleanliness of major storm water drains. He visited the KPT Nullah, Machhar Colony Nullah, Mahmoodabad Nullah, Picher Nullah as well as Urdu Bazaar, Burnes …

ISLAMABAD/GILGIT: At least one as-yet-unidentified British climber fell to his death on Broad Peak on Saturday, while another Romanian mountaineer was said to be fighting for his life on the 8,000-metre peak due to “dehydration and fatigue”. In addition, a 61-year-old Canadian climber, has gone missing from K2, the world’s second highest mountain, during his descent from Camp 3 to …