KARACHI: Classified assets of non-bank microfinance companies (NBMFCs) surged almost 347 per cent in 2020, according to the latest Financial Stability Review of the State Bank of Pakistan (SBP). The central bank has dubbed the steep rise in the NBMFCs’ classified assets, which are loans with a high probability of default, a “real cause of concern”. NBMFCs form the largest …

KARACHI: The stock market remained under the control of the bears during the outgoing week. And despite a surprise 805-point rally on Thursday spurred by the unexpected mutual funds’ buying of stocks worth $12.3m, the index closed in the negative trajectory for the remaining four sessions to close the week below the barrier of 48,000 points at 47,563, down by …

LAHORE: Federal Minister for Planning, Development & Special Initiatives Asad Umar on Saturday reposed confidence in the private sector for Pakistan attaining economic viability in future. “In the 21st century, I personally believe that only private sector-led development and growth can take Pakistan forward as the state-owned entities (SOEs) have failed to deliver except the period of 60s,” he said. …

LONDON: England and Italy are counting down to Sunday’s Euro 2020 final, with Gareth Southgate’s men seeking to end a 55-year trophy drought but the Italians aiming to spoil the Wembley party. Sporting immortality beckons for England captain Harry Kane and his team-mates, who are desperate to etch their names in the record books by winning just the second major …

LONDON: World number one Ash Barty became the first Australian woman to win the Wimbledon singles title for 41 years on Saturday when she defeated Czech Karolina Pliskova 6-3, 6-7 (4-7) 6-3 in the final. Barty, who won her maiden Grand Slam at Roland Garros in 2019, emulated her idol Evonne Goolagong who claimed the second of her All England …

Lewis Gregory starred with both bat and ball as England beat Pakistan by 52 runs in the second one-day international at Lord’s on Saturday to take an unassailable 2-0 lead in a three-match series. Set 248 to win in a game reduced to 47 overs per side by rain, Pakistan were dismissed for 195. Somerset pace-bowling all-rounder Gregory, in just …

KARACHI: Ashfaq Hussain Shah says he’s keeping his word. Sardar Naveed Haider Khan says the plan to give rights to a company to hold the Pakistan Football League is a ‘15-year sellout’. The court-elected Pakistan Football Federation president Ashfaq and his vice-president Naveed, who are not recognised by FIFA and whose takeover of the PFF headquarters in March saw Pakistan …

Experts fear Prince Harry and Meghan Markle may lose their Archewell trademark due to flimsy paperwork. The claim has been brought forward by royal editor Richard Eden and during his interview with Palace Confidential on Mail+, he claimed, “Harry and Meghan have clearly got their global empire that they’re pursuing and they are busy trademarking in every dominion.” “It doesn’t matter …

CANNES: French actress Lea Seydoux may miss the Cannes film festival after she tested positive for Covid-19, a spokeswoman for one of her movies told AFP Saturday. The James Bond star is appearing in no less than four films at the world´s biggest film festival, including Wes Anderson´s star-studded “The French Dispatch”, which has already been heavily delayed by the …

Social media star Addison Rae is being thrashed by MMA fans and journalists following news of her latest gig as a red carpet correspondent for the UFC. Taking to Twitter, the Tik Tok star posted two photos of herself posing with a UFC background and mic in hand. “I studied broadcast journalism in college for 3 whole months to prepare …