黑料社区

Pakistan stocks close at record high as investor confidence surges following Saudi defense pact

Pakistan stocks close at record high as investor confidence surges following Saudi defense pact
Stockbrokers monitor the latest share prices at the Pakistan Stock Exchange (PSE) in Karachi on July 3, 2023. (AFP/File)
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Updated 4 min 10 sec ago

Pakistan stocks close at record high as investor confidence surges following Saudi defense pact

Pakistan stocks close at record high as investor confidence surges following Saudi defense pact
  • Pakistan stocks closed at 157,953.4 points, increasing by 1,775.65 points from previous day鈥檚 close, as per stock market data
  • Financial analysts say investors expect economic support from 黑料社区 as its ties with Pakistan improve following pact

KARACHI: The Pakistan Stock Exchange (PSX) closed at an all-time high of 157,953.47 points on Thursday, up by 1,775.65 points with analysts attributing the latest surge to growing investor confidence following Pakistan鈥檚 landmark defense pact with 黑料社区 this week.聽

According to the PSX website, Pakistani stocks rose during the intra-day trading to 158,082.55 points before declining to 157,953.47 points at close of business. The stocks registered an increase of 1.14 percent from the previous day鈥檚 close, which was recorded at 156,177.81 points. The market saw robust activity, with 1.959 billion shares valued at Rs56.93 billion ($1 billion) compared to the 1.499 billion shares worth Rs48.85 billion ($857 million) traded the previous day.

The development takes place a day after Pakistan and 黑料社区 signed a 鈥淪trategic Mutual Defense Agreement,鈥 pledging that aggression against one country would be treated as an attack on both, with the move expected to enhance joint deterrence and strengthen decades of military and security cooperation between the allies.聽

鈥淭he market touched the all-time high after Pak-Saudi pact, which is likely to ease (Islamabad鈥檚) financial burden as Pak-Saudi relations improve and investors expect economic support following the Middle East pact,鈥 Ahsan Mehanti, chief executive officer of Arif Habib Commodities, told Arab News.聽

Leading brokerage house Topline Securities agreed, crediting the points surge to the landmark defense pact.聽

鈥淭he bulls stampeded across the trading floor today as the local bourse surged on the back of a landmark development鈥 the signing of the Strategic Mutual Defense Agreement (SMDA) between 黑料社区 and Pakistan,鈥 Topline Securities said.聽

鈥橦ISTORIC, STRATEGIC鈥 TIES

The pact was signed between the two countries during Prime Minister Shehbaz Sharif鈥檚 state visit to Riyadh on Wednesday, where he met Saudi Crown Prince and Prime Minister Mohammed bin Salman at Al-Yamamah Palace. The two leaders, joined by senior ministers and military officials, reviewed what Sharif鈥檚 office called a 鈥渉istoric and strategic鈥 relationship between the two nations and discussed regional developments.

The accord comes at a time of extreme volatility in the Middle East, where prolonged conflicts have heightened fears of wider instability, reinforcing the urgency Gulf states place on stronger security and defense partnerships.

A joint statement released later described the pact as a reflection of the two governments鈥 shared commitment to strengthening defense cooperation and 鈥渁chieving security and peace in the region and the world.鈥

黑料社区 and Pakistan have for decades maintained close political, military and economic ties. The Kingdom hosts more than 2.5 million Pakistani expatriates 鈥 the largest overseas community sending remittances back home 鈥 and has repeatedly provided Islamabad with financial support during economic crises. Defense cooperation has included training, arms purchases and joint military exercises.
The new agreement formalizes that cooperation into a mutual defense commitment, a step that analysts widely say places the relationship on par with other strategic partnerships in the region.聽


Pakistan eyes EU investment in oil, gas, IT and agriculture sectors

Pakistan eyes EU investment in oil, gas, IT and agriculture sectors
Updated 5 sec ago

Pakistan eyes EU investment in oil, gas, IT and agriculture sectors

Pakistan eyes EU investment in oil, gas, IT and agriculture sectors
  • Finance minister says EU firms expected to boost role in Pakistan鈥檚 economy
  • EU envoy pledges support, plans to revive EU-Pakistan Business Forum, finance ministry says

KARACHI: Pakistan is seeking stronger European Union investment in the oil and gas, mining, information technology, agriculture and privatization sectors, Finance Minister Muhammad Aurangzeb said on Thursday.

The EU is one of Pakistan鈥檚 largest trading partners, accounting for more than 30 percent of exports under the GSP+ preferential trade scheme. More than 300 EU companies already operate in Pakistan, while the European Investment Bank has supported major projects in water, sanitation and energy.

鈥淲e encouraged EU companies to explore investment opportunities in Pakistan and expect their participation to grow further in sectors such as oil and gas, mining, IT, agriculture and privatization,鈥 Aurangzeb was quoted as saying in a statement released by the finance ministry after he met the new EU ambassador to Pakistan, Raimundas Karoblis.

Aurangzeb said Pakistan鈥檚 recent upgrades from global credit rating agencies and wide-ranging reforms had improved investor sentiment, creating conditions for deeper economic engagement with Europe.

According to the finance ministry, Karoblis congratulated Pakistan on its progress and assured Brussels鈥 continued support. He said he would revive the EU-Pakistan Business Forum with a meeting planned for next year, and noted that more than 300 EU firms were already active in the country.

Karoblis also highlighted the importance of the GSP+ trade scheme in boosting Pakistan鈥檚 exports to Europe and pointed to European Investment Bank projects in Karachi鈥檚 water and sanitation sector, with future plans in railways, energy and rural housing.

Aurangzeb briefed the envoy on the floods that have killed more than 950 people nationwide this monsoon season, saying the government was handling relief from its own resources while assessing longer-term rehabilitation needs.

Both sides reaffirmed their commitment to strengthening economic ties and exploring new avenues of cooperation, the finance division said.


Pakistan warns fresh rains may cause Punjab rivers to swell as monsoon toll crosses 1,000聽

Pakistan warns fresh rains may cause Punjab rivers to swell as monsoon toll crosses 1,000聽
Updated 43 min 32 sec ago

Pakistan warns fresh rains may cause Punjab rivers to swell as monsoon toll crosses 1,000聽

Pakistan warns fresh rains may cause Punjab rivers to swell as monsoon toll crosses 1,000聽
  • Pakistan鈥檚 NDMA has forecast heavy rains in Rawalpindi, Islamabad, Gujrat, Gujranwala, and Lahore divisions in next two days聽
  • Disaster management authority鈥檚 warning comes as water levels in Punjab鈥檚 river recedes as floods head toward southern Sindh聽

ISLAMABAD: Pakistan鈥檚 National Disaster Management Authority (NDMA) warned on Thursday that widespread rains in several districts of the eastern Punjab province, already reeling from catastrophic floods, may cause river levels to rise to dangerous levels again as the nationwide death toll since Jun. 26 surged to 1,006. 

The warning from the NDMA comes as the Punjab Disaster Management Authority (PDMA) said that water levels in Punjab鈥檚 rivers are returning to 鈥渘ormal,鈥 as floods flow downstream into the southern Sindh province. 

Heavy rains and excess water released from Indian dams have caused three major rivers 鈥 the Chenab, Ravi and Sutlej 鈥 in the eastern Punjab province to swell late last month, inundating more than 4,700 villages in the country鈥檚 agricultural heartland, destroying crops and homes and forcing millions to flee. Over 110 people were killed while at least 300,000 people across Pakistan remain in tents, according to official figures. Over 2,000 relief camps are reported operational nationwide, with rescue operations continuing in Punjab and Sindh in coordination with the Pakistan Army and Navy.

鈥淭he National Disaster Management Authority (NDMA) on Thursday warned of widespread rain with thunderstorms across several districts in Punjab over the next two days, increasing the risk of river swelling in vulnerable areas due to rising water levels in upper catchments,鈥 state broadcaster Radio Pakistan reported. 

The NDMA鈥檚 National Emergency Operations Center (NEOC) predicted heavy rain and thunderstorms in Rawalpindi, Islamabad, Gujrat, Gujranwala, and Lahore divisions in the next two days. The authority said intermittent showers were also likely in northwestern Peshawar, Kohat, Bannu districts and eastern Sargodha, Faisalabad, and southwestern Zhob divisions. 

鈥淗eavy rainfall is expected to trigger a significant surge in hill torrent flows, posing additional risks to low-lying and flood-prone regions,鈥 Radio Pakistan said. 

In response, NDMA said it has directed all relevant institutions to take proactive measures to manage potential emergency situations.

鈥淎uthorities are closely monitoring developments and implementing timely interventions to mitigate hazards and ensure public safety,鈥 the state-run media said.

The NDMA urged citizens to avoid crossing swollen streams, bridges, and flooded roads. It called upon residents in high-risk areas to stay informed of the latest weather situation through official announcements on television and mobile alerts.

FLOODS IN SINDH

Concerns for riverine floods increased in the downstream southern Sindh province since earlier this month as water levels in Punjab receded and headed toward the southern province.
鈥淭he River Indus at Guddu is in medium flood, Sukkur is in high flood and Kotri is in low flood level,鈥 the Pakistan Meteorological Department said in a statement on Thursday, referring to three major barrages in Sindh.
鈥淩iver Sutlej at Ganda Singh Wala is in medium flood whereas at Sulemanki and Islam it is at low flood level,鈥 it continued. 鈥淭he River Indus at Kotri is likely to remain in medium flood level up to the end of this month.
Pakistan, which contributes only one percent of global greenhouse gas emissions, is among the countries most severely affected by climate change.

Catastrophic floods in 2022 killed 1,700 people, affected 33 million and caused over $30 billion in damage.


Many displaced by Pakistan鈥檚 flood-hit Punjab return to find homes, crops destroyed

Many displaced by Pakistan鈥檚 flood-hit Punjab return to find homes, crops destroyed
Updated 18 September 2025

Many displaced by Pakistan鈥檚 flood-hit Punjab return to find homes, crops destroyed

Many displaced by Pakistan鈥檚 flood-hit Punjab return to find homes, crops destroyed
  • Floods triggered by monsoon rains, overflowing dams in India have damaged 2.5 million acres of farmland in Punjab
  • Punjab relief commissioner says authorities will begin survey next week to assess damage to crops, homes, infrastructure

KHANEWAL, Pakistan: Most of the 2.6 million people displaced by record floods in Pakistan鈥檚 Punjab province have returned home to find their houses damaged and their crops destroyed, as authorities promised Thursday to compensate all victims.

Flooding triggered by heavy monsoon rains and water from overflowing dams in India since August has damaged 2.5 million acres of farmland and killed 118 people, according to Punjab relief commissioner, Nabil Javed.

In a statement, the Punjab Disaster Management Authority said August brought the province鈥檚 worst flooding on record.

Displaced families are returning now that the water is receding, he said, adding said authorities will begin a survey next week to assess damage to crops, homes and infrastructure in Punjab.

Many survivors said they learned about their losses only upon returning to the flood-hit villages. In Qatalpur village in Punjab, 45-year-old Mohammad Mohsin broke down after returning from a relief camp with his family. His house is still standing but is riddled with cracks.

鈥淭he flood destroyed us, our crops are gone,鈥 he told The Associated Press. 鈥淲e survived the waters, but I fear one day the roof will fall on us. My house needs urgent repair, but so far we have received no government aid.鈥

In the same village, Parveen Bibi, 39, showed the remains of her broken home where she now sleeps with her children.

鈥淒uring the flood, we stayed on the riverbank and got food from the government,鈥 she said. Bibi said so far, no official has visited to assess their losses.

Along a roadside in Khanewal district in Punjab, Sajjad Hussain, 52, said he spent a week under the open sky with his family after his village was submerged earlier this month.

鈥淣ow that the water has gone, I am going back,鈥 the farmer said. 鈥淓ven if the government only gives me a tent, I will thank God.鈥

The swelling of the Ravi, Chenab and Sutlej rivers in recent weeks was 鈥渦nprecedented,鈥 said Irfan Ali Kathia, the authority鈥檚 director general. 鈥淲ater has receded in most areas,鈥 he said.

Kathia said the waters are now moving south toward Sindh province.

Pakistan witnessed its most devastating monsoon season in 2022 when floods killed 1,739 people and caused an estimated $40 billion in damage.


Pakistan among countries hit as experts flag malnutrition-driven 鈥榯ype 5 diabetes鈥

Pakistan among countries hit as experts flag malnutrition-driven 鈥榯ype 5 diabetes鈥
Updated 18 September 2025

Pakistan among countries hit as experts flag malnutrition-driven 鈥榯ype 5 diabetes鈥

Pakistan among countries hit as experts flag malnutrition-driven 鈥榯ype 5 diabetes鈥
  • Health experts say over 25 million people may suffer from malnutrition-linked diabetes worldwide
  • Studies in Pakistan, India, Nigeria and others show distinct new disease form, now dubbed 鈥榯ype 5鈥

PARIS: Malnutrition can cause its own form of diabetes, health experts said Thursday, calling for 鈥渢ype 5 diabetes鈥 to be recognized globally to help fight the disease in countries already struggling with poverty and starvation.

The most common form of diabetes, type 2, can be caused by obesity and occurs when adults become resistant to the hormone insulin. Type 1, mostly diagnosed in childhood, arises when the pancreas does not produce enough insulin.

But diabetes researchers have been tracking another form of the disease, which often appears in people aged under 30. It also affects insulin production but is less severe than type 1.

And rather than being linked to being overweight or obese like type 2, it affects people who are underweight because they do not eat enough.

A paper published in medical journal The Lancet Global Health shows that more than 25 million people suffer from this 鈥渢ype 5 diabetes,鈥 mostly in developing countries.

鈥淲e call upon the international diabetes community to recognize this distinct form of the disease,鈥 the authors wrote, reflecting a consensus reached by the International Diabetes Federation earlier this year.

The experts settled on calling this form of diabetes type 5, though types 3 and 4 have not been officially recognized.

Diabetes driven by malnutrition is not a new discovery 鈥 in the 1980s and 1990s, the World Health Organization classified a form of 鈥渕alnutrition-related diabetes.鈥

But the UN agency abandoned this classification in 1999 due to a lack of agreement among experts about whether undernourishment alone was enough to cause diabetes.

Since then, numerous studies in countries including Bangladesh, Ethiopia, India, Indonesia, Nigeria, Uganda, Pakistan and Rwanda have indicated that this is possible.

The exact link between malnutrition and this strand of diabetes remains unknown. The efficacy of existing diabetes treatments that do not focus on weight loss on type 5 is also unclear.

The best way to fight the disease involves supporting programs already working to combat poverty and hunger, the authors of the paper said.

This includes giving people access to 鈥渓ow-cost, energy-dense staple foods high in protein and complex carbohydrates鈥 such as lentils, legumes, oil-enriched cereals and fortified grains, they added.


Pakistan textile exports rise nearly 10 percent to $3.2 billion in July鈥揂ugust

Pakistan textile exports rise nearly 10 percent to $3.2 billion in July鈥揂ugust
Updated 18 September 2025

Pakistan textile exports rise nearly 10 percent to $3.2 billion in July鈥揂ugust

Pakistan textile exports rise nearly 10 percent to $3.2 billion in July鈥揂ugust
  • Knitwear, garments drive growth despite energy costs, competition with Bangladesh
  • Textile sector remains Pakistan鈥檚 largest exporter, employing 40 percent of industrial labor force

ISLAMABAD: Pakistan鈥檚 textile exports, the backbone of its economy and a major supplier to global brands, rose nearly 10 percent year-on-year to $3.2 billion in July and August, official data showed, with knitwear and readymade garments leading the growth.

The textile and apparel sector is Pakistan鈥檚 largest export earner, accounting for more than half of total exports and contributing around 8.5 percent of GDP by employing nearly 40 percent of the industrial labor force. But high energy costs, outdated infrastructure and policy uncertainty continue to slow growth and leave the country trailing regional peers such as Bangladesh.

鈥淭he textile exports from the country were recorded at US $3.203 billion during July鈥揂ugust (2025鈥26) against the exports of US $2.915 billion during July鈥揂ugust (2024鈥25),鈥 the Associated Press of Pakistan (APP), a state news agency, said in a report.

Knitwear exports surged 16.9 percent to $959 million, while readymade garments rose 10.6 percent to $728 million. Bedwear exports increased by 12 percent to $565 million and towels by 4.8 percent to $179 million.

Other products also contributed to the rise: cotton yarn exports grew by 7.8 percent to $119 million, synthetic textiles by 8 percent to $66 million, and made-up articles by 14.3 percent to $137 million. However, exports of tents, canvas and tarpaulin fell 18.3 percent to $16 million.

Despite the year-on-year increase, monthly exports dipped 9.3 percent in August compared to July, reflecting continuing volatility in the sector. 

Pakistan鈥檚 commerce minister, Jam Kamal, last month announced the finalization of a five-year Textiles and Apparel Policy and a National Industrial Policy aimed at making the industry regionally competitive, removing trade barriers and ensuring long-term export growth.