KARACHI: Massive fall in cotton production pushed spot rates to an 11-year high of Rs11,700 per maund in the domestic market, the Karachi Cotton Association said on Wednesday. The sudden rise in demand in the intentional market increased the US cotton price by 12-15 cents per pound within fifteen days. Brokers said cotton from Balochistan as well as bales imported …

AHMEDABAD: Spinner Axar Patel claimed a career-best 6-38 as India bundled out England for 112 on the opening day to put themselves in the box seat in the day-night third Test in Ahmedabad on Wednesday. Rohit Sharma then helped the hosts weather a top-order wobble of their own and finish an eventful 13-wicket day on 99-3. The right-handed opener was …

ISLAMABAD: The Federal Board of Revenue (FBR) collected Rs4.99 billion in the first seven months of this fiscal year on import of mobile devices through Device Identification, Registration and Blocking System (DIRBs), which is 34.47 per cent higher over the preceding year. The duty was collected from expatriates and travellers on import of mobile phones under baggage. Since July 1, …

The Financial Action Task Force (FATF) is expected to announce later today whether Pakistan has done enough to exit the grey-list as it wraps up its four-day plenary meeting. The FATF president will give a press briefing on the outcomes of the FATF plenary at 9:30pm (16:30 GMT). Background discussions with key officials and foreign diplomats suggest that the jury …

ISLAMABAD: The Natio­nal Electric Power Regula­tory Authority (Nepra) on Wednesday slightly reduced the rate of return on equity (ROE) from 15 to 14.5pc for three old nuclear power plants of 930MW. This would provide a saving of Rs2.05bn per annum or about 25 paisa per unit for remaining 25-37 year life of these projects, the re­­gulator said in a statement. …

ISLAMABAD: With sub-optimal utilisation of earlier $4.5 billion worth of three-year financing framework, Pakistan and the International Islamic Trade Finance Corporation (ITFC) on Wednesday signed a $1.1bn trade financing facility for the current year. Under the Annual Financing Plan, “ITFC will mobilise trade financing of $1.1bn during the year 2021”, said an official statement after the signing ceremony. The financing …

“Star Wars” series   The Bad Batch will debut on the Disney+ streaming service on May 4, according to Reuters. The news agency reported it will be an animated show about an elite group of clones. It said Marvel Studios live-action series “Loki,” about the villain played by Tom Hiddleston, will premiere on June 11, Disney said in a statement ahead …

British singer and songwriter Dua Lipa said she felt vulnerable in her younger years but now she felt the urge ‘to be strong and stand my ground.’ Talking to Apple Music in an exclusive interview, the 25-year-old said she became an artist and a musician while fighting her insecurities and vulnerabilities as she was growing. Detailing about her vulnerabilities, she …

Hollywood actor Johnny Depp’s 50 million dollar US defamation trial against his ex-wife Amber Heard has been delayed Depp is suing Amber, 34, in Virginia after she wrote an article in the Washington Post claiming to be a victim of domestic abuse. The 57-year-old actor actor launched legal proceedings against her in March 2019 and after several delays, the case …

Paramount Pictures has announced to stream the latest sequel of Tom Cruise-starrer Mission Impossible along with another flick ‘A Quiet Place Part II’ just 45 days after their theatrical release dates. Mission: Impossible 7 is set to release in theatres on November 17 and “A Quiet Place Part II” will make a debut on September 17. Though Paramount attaches high …