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PM Shehbaz says Pakistan, Turkiye start new, thrilling chapter
Prime Minister Shehbaz Sharif has said economic partnership between Pakistan and Turkiye is heading into a new and highly exiting phase.
In a post on X, the PM shared that he met President Recep Tayyip Erdogan in the historic city of Istanbul with great satisfaction.
We spoke on all aspects of the Pakistan-Türkiye Strategic Partnership including commerce, investment, defence cooperation, energy, connectivity, technology, regional peace and people-to-people exchanges.
We reiterate our shared belief that communication, diplomacy and mutual respect are the only viable way to resolve issues and preserve world peace and security.
I thanked President Erdogan for his gracious welcome. We also resolved to harness the full potential of our collaboration to realize our mutually agreed aim of USD 5 billion in bilateral commerce and to take the everlasting connections of brotherhood between Pakistan and Türkiye to even higher heights.
I had the opportunity to attend the Pakistan-Türkiye Business Conference earlier today and had the opportunity to meet eminent representatives of the dynamic business community of Türkiye. Their optimism, inventiveness and entrepreneurial energy further strengthened my belief that the economic partnership between Pakistan and Türkiye is entering a new and exciting chapter under the creative leadership of President Erdoğan.”
Prime Minister Shehbaz Sharif has commended Turkish President Recep Tayyip Erdogan with assisting Pakistan to win a mediation role in efforts to end the conflict between the United States and Iran, calling the diplomatic mission one of the hardest undertaken by the country.
The prime minister, addressing a Pakistan-Turkiye Business-to-Business (B2B) Conference in Istanbul and later at a joint press conference with President Erdogan, also urged to turn the strong political ties between the two countries into deeper economic and investment cooperation.
Shehbaz is on an official visit to Turkiye to enhance bilateral trade, investment and regional
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World class bowling machine of National Cricket Academy
- In its continuous efforts to equip players with advanced training facilities and match simulation practice, the Pakistan Cricket Board has built a world-class Trueman 3 bowling machine at the National Cricket Academy (NCA).
On the front of the sophisticated bowling machine, there is a high-contrast LED animation of a bowler which synchronises precisely with the release of the ball. The bowler animations are based on real bowling actions and give batters a chance to learn their triggers, decision making and batting sequences in a game-like setting.
The machine allows coaches and players to change line, length, speed, swing and height, and individual balls, overs and spells may be saved and played back in sequence or randomly to generate match-like circumstances.
Director High-Performance Aqib Javed said: “The Trueman 3 machine is the latest technology and we are the first cricket board to use it. In classic bowling machines players typically struggle to get used to the bowler’s release point, their trigger motions and when to get ready.
“The plus point of this machine is that the batter can see on screen the video of the bowler and sync himself accordingly. Simultaneously, the machine may be programmed as per a batter’s requirement which assists in preparing the player extremely close to a match situation.”
Pakistan all-rounder Salman Ali Agha, who faced deliveries from the machine at the NCA speaking to PCB Digital said: “The biggest advantage of this machine is that the batter can relate his practice to a match situation. As cricket is advancing towards the contemporary day new shots and new tactics are coming in and this machine helps us prepare for those challenges.
“It’s like a bowler coming in and bowling. The ball comes in with an action so you have to time it like you do in a game. “I think this technology is going to help batters get even better and we will benefit even more from it in future.”
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Sindh governor opens NADRA Mega Centre in Karachi’s Surjani
Sindh Governor Syed Nihal Hashmi opened a new NADRA Mega Centre in Surjani area of Karachi to provide better access to identity registration and documentation services to the citizens of the locality and neighbouring areas.
The newly designed facility has separate service counters for older folks and persons with disabilities for more convenience, NADRA officials said. Overall, the mega complex features 20 one-window counters, providing a range of services under one roof.
The centre also contains a large waiting space that can take in 200 people at a time, officials said. The facility will be capable of serving more than 2,000 applicants within a 24-hour period.
The mega centre when established will offer all NADRA services to millions of residents of Surjani and adjacent areas under one roof. The officials also stated that a zonal office in the building will help locals avoid travelling to the Ayesha Manzil office for relevant services.
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Business
Dollar hovers at two-week low as rate-hike forecasts fade, emphasis on beleaguered yen
The U.S. dollar held near a two-week low on Monday as investors trimmed bets for a Federal Reserve rate hike this year, while the yen stayed locked near a 40-year low, putting investors on edge over what Tokyo would do next.
The euro bought $1.1435, close to its best level in two weeks, and the pound bought $1.3351 in latest trading. The dollar index, which measures the U.S. currency against six others, was at 100.9 early in the trading day.
The yen stood at 161.57 to the dollar, not far from a 1986 low of 162.84 set last week, with traders still concerned of probable intervention after a surprising burst of purchasing momentarily raised the currency on Thursday.
The South Korean won edged higher on the first day of its historic 24-hour onshore spot dollar-won trading. It sold for 1,534 to the dollar.
DOLLAR ON THE DEFENSIVE
The U.S. dollar suffered its largest weekly loss last week since April after the U.S. payrolls report indicated that job growth slowed abruptly in June, lowering market expectations of a rate hike from the Fed.
Still, the fall in the unemployment rate indicates a healthy labour market and should assist preserve Fed tightening expectations, OCBC strategists said.“The broader USD outlook remains constructive,” they wrote, confirming their call for a modest 2-3% rise in the dollar in the second half of 2026.
Falling oil prices have helped soothe some inflationary concerns, and investors this week will focus on the minutes of the Fed’s June meeting to help evaluate policymakers’ thinking regarding the rates forecast.
Strategists at Commonwealth Bank of Australia said the minutes might be shorter or less insightful than normal because Fed Chairman Kevin Warsh believes the central bank has offered too much direction in the past.
YEN VIGIL ON
The yen remained in the spotlight, hovering near a 40-year low as the threat of official intervention kept traders on edge, but analysts doubted any move by Tokyo would provide durable assistance.
OCBC strategists said the danger of intervention is more likely to create bouts of volatility and transitory corrections rather than a durable reversal in USD/JPY.”Without a meaningful change in underlying macro fundamentals, verbal warnings and outright intervention alone are unlikely to change the broader direction of the pair,” they concluded. The Japanese policymakers have also broken their tradition of telegraphing risks, suggesting a more targeted drive to squeeze speculators and boost the cost of betting against the yen, which investors are also worried about.Marc Chandler, chief market strategist at Bannockburn Global Forex, said, “The market understands about the risk of intervention. “We’re still seeing indications in the options market that some sizable pools of capital have bought short-dated dollar puts to hedge long dollar positions in the event of intervention,” he said.
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