Author: admin

The Pakistani rupee posted marginal gain against the US dollar, appreciating by 0.02% during intra-day trading in the inter-bank market on Monday. At 9:58am, the local currency was hovering at 280.92, up by Re0.05 against the previous day close. On Friday, the rupee had closed at 280.97 against the greenback. During the previous week, the Pakistani rupee depreciated further against the US dollar in the inter-bank market as it lost Re0.25 or 0.09%. Internationally, the dollar made a steady start on Monday as investors prepared for a week packed with economic data that may give a first glimpse of whether…

A new study has corroborated an account of the Han conquest of the Nanyue kingdom in southern China (203-111BC) by ancient historian Sima Qian.The researchers also linked the watershed military campaign to the decline of the Chinese swamp cypress, a tree species which is now critically endangered.Geological evidence, pollen analysis and historical records were analysed to determine how the Han dynasty’s riverine warfare tactics reshaped history and the Pearl River Delta’s ecosystem more than 2,100 years ago.The findings of the study – led by Sun Weidong from the Chinese Academy of Sciences’ Institute of Oceanology in Qingdao – were published…

A new study has corroborated an account of the Han conquest of the Nanyue kingdom in southern China (203-111BC) by ancient historian Sima Qian.The researchers also linked the watershed military campaign to the decline of the Chinese swamp cypress, a tree species which is now critically endangered.Geological evidence, pollen analysis and historical records were analysed to determine how the Han dynasty’s riverine warfare tactics reshaped history and the Pearl River Delta’s ecosystem more than 2,100 years ago.The findings of the study – led by Sun Weidong from the Chinese Academy of Sciences’ Institute of Oceanology in Qingdao – were published…

A number of mainland China companies are making plans for initial public offerings (IPOs) or secondary listings in Hong Kong, a trend that augurs well for the city’s effort to claw its way back to the top of the global league table of fundraising destinations.Wang Xingxing, the founder of humanoid-robotics start-up Unitree, told Hong Kong’s chief executive John Lee Ka-chiu during his visit to Hangzhou last week that a listing in the city remains a future consideration, local media reported.Companies with firm plans to list in the city, according to recent exchange filings, include Shanghai-listed Suzhou Novosense Microelectronics, China’s fifth-largest…

A number of mainland China companies are making plans for initial public offerings (IPOs) or secondary listings in Hong Kong, a trend that augurs well for the city’s effort to claw its way back to the top of the global league table of fundraising destinations.Wang Xingxing, the founder of humanoid-robotics start-up Unitree, told Hong Kong’s chief executive John Lee Ka-chiu during his visit to Hangzhou last week that a listing in the city remains a future consideration, local media reported.Companies with firm plans to list in the city, according to recent exchange filings, include Shanghai-listed Suzhou Novosense Microelectronics, China’s fifth-largest…

Stay informed with free updatesSimply sign up to the Chinese economy myFT Digest — delivered directly to your inbox.China’s top economic officials said the country could do without American farm and energy imports as they vowed to achieve a 5 per cent GDP growth target for the year despite the trade war with the US. Zhao Chenxin, vice chair of the National Development and Reform Commission, China’s state planner, said domestic farm and energy production, along with imports from non-US sources, would be more than enough to satisfy demand.   “Even if we do not purchase feed grains and oilseeds from the United…

KYIV, Ukraine (AP) — Ukraine and Russia targeted each other with long-range strikes, officials said Monday, amid continuing uncertainty about whether an agreement to stop their more than three-year war is within reach at the start of what America’s top diplomat called a “very critical” week.The Russian Defense Ministry said its forces downed 119 Ukrainian drones overnight, most of them over Russia’s Bryansk border region. In Ukraine, air raid sirens rang out across the country Monday morning. There were no immediate reports of casualties or damage.The outcome of a push by U.S. President Donald Trump’s administration to swiftly end the…

VATICAN CITY (AP) — Cardinals arriving for the first day of informal meetings after Pope Francis’ funeral were swarmed at the city-state’s gates by journalists eager for hints of whether any consensus was building around the election of a successor. A date for the start of the highly anticipated conclave could come as soon as Monday.In a chaotic scene, journalists shouted out questions about the mood inside, whether there was unity, and when the conclave would begin. A reporter for a satirical Italian television program repeatedly asked whether an Italian cardinal who has been convicted by the Vatican criminal court…

Selling returned to the Pakistan Stock Exchange (PSX) after a positive start, as the KSE-100 Index went into the negative territory to lose over 1,400 points during trading on Monday. The KSE-100 opened the session positive, hitting an intra-day high of 116,658.95 during the initial hours. However, selling pressure in the latter hours pushed the index to an intra-day low of 113,867.81. At close, the benchmark index settled at 114,063.90, down by 1,405.45 points or 1.22%. “Today’s trading session witnessed a classic tug-of-war between bulls and bears. The index opened on a positive note, gaining strong momentum in the early…

The Pakistan Stock Exchange (PSX) opened the week with a strong buying spree, as its benchmark KSE-100 Index gained over 1,100 points during intra-day trading on Monday. At 10:15am, the KSE-100 was hovering at 116,583.23, up by 1,113.89 points or 0.96% against the previous close. On Friday, the benchmark index had closed at 115,469.35. A rise in tensions between Pakistan and India following Pahalgam attack kept the stock market under pressure as the KSE-100 declined by 1.57% last week. “This decline can be attributed to cross border tension with India and futures rollover week. Other development during the outgoing week…