Bulls dominated the trading floor of the Pakistan Stock Exchange (PSX) on Wednesday as shares gained over 600 points in intraday trade, with analysts attributing the gains to “good progress” made regarding the privatisation of Pakistan International Airlines (PIA). On Tuesday, the federal cabinet approved the board of PIA Holding Company, with former State Bank governor Tariq Bajwa being appointed as its …

ISLAMABAD: The Ele­c­tion Commission of Pak­­istan (ECP) on Tuesday re­­served its verdict on a plea against delay in administration of oath to the newly elected members of the Khyber Pakhtunkhwa as­­sembly on reserved seats. A five-member bench, headed by Chief Election Commissioner (CEC) Sikandar Sultan Raja, heard the petition. MPAs-elect Jamila Paracha, Afshan Hussain, Amna Sardar Faiza Malik, Shazia Jadoon, and Suresh …

GENEVA: China has initiated dispute settlement proceedings against the United States at the World Trade Organisation to safeguard its interests in the electric vehicle industry, the Chinese mission said on Tuesday and the WTO confirmed. China said it was contesting “discriminatory subsidies” under the US Inflation Reduction Act that it said resulted in the exclusion of goods from China and …

GAZA STRIP: Twelve people drowned and at least six were killed in stampedes trying to recover aid airdropped into Gaza, local authorities said on Tuesday. The deaths occurred in the north of the besieged territory on Monday, with people rushing to collect packages dropped from planes along Gaza’s Mediterranean coast. The UN humanitarian office called on Tuesday for Israel to revoke a …

ISLAMABAD: The state of affairs at the National Energy Efficiency and Conservation Authority (Neeca) has become a true depiction of the country’s energy sector challenges. The government has suddenly notified abolition of key executive positions at Neeca, the agency tasked with efficiency and conservation of the energy sector that was already extremely understaffed — operating with just 10 members against …

LONDON: An ad launched by the Conservative party ahead of the mayoral polls in London, in May, stirred controversy. The ad was eventually deleted, after it posted misinformation targeting the incumbent London mayor, Sadiq Khan. In a bid to discredit Khan, the video posted to X (formerly Twitter), in support of Tory mayoral candidate Susan Hall, had shown scenes of …

UNITED NATIONS: Pakistan has joined other nations in urging for the prompt implementation of a UN Security Council (UNSC) resolution that calls for a Ramazan ceasefire, paving the way for a lasting and sustainable peace in Gaza. Alongside the ceasefire, the resolution underscores the necessity for the immediate, unconditional release of all prisoners. UN Secretary General Antonio Guterres has said …

KARACHI: For the last three months, the rupee continued appreciating against the US dollar, reaching close to Rs277 in the interbank market on Tuesday amid hopes for fresh inflows from the International Monetary Fund (IMF). However, a surge in terrorist attacks in the country and the killing of five Chinese engineers associated with the Dasu hydropower project could shatter the …

Calls emerged from various quarters on Wednesday for a probe into allegations made by six Islamabad High Court (IHC) judges against interference in judicial affairs by the country’s intelligence apparatus. On Tuesday, six IHC judges — out of a total strength of eight — wrote a startling letter to the Supreme Judicial Council (SJC) members, regarding attempts to pressure judges through abduction …

ISLAMABAD: The state of affairs prevailing in the educational institutions across the country on Tuesday forced a group of teachers to approach the Supreme Court by highlighting that a high proportion of public sector universities is functioning without legally appointed vice chancellors (VCs). The petition has been moved by the All Public Universities BPS Teachers Association (APUBTA) through its president, …