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Two villagers shot dead over old enmity
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Iran’s embassy in Lebanon condemned “Israeli madness” after a deadly strike on the Hezbollah group’s
Iran’s embassy in Lebanon condemned “Israeli madness” after a deadly strike on the Hezbollah group’s south Beirut stronghold — which Israel said killed a top Hezbollah commander, reports. “We condemn in the strongest terms the Israeli madness and arrogance that has exceeded all limits by targeting residential areas in Beirut’s southern suburbs,” the embassy posted on X.
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 said the KSE-100 index experienced a bullish week, driven by anticipation of $7bn from the IMF Executive Board, for which a meeting is scheduled on Sept 25. Moreover, the first rate cut of 50bps by the US Fed since 2020 boosted market participation across Asian markets, including local bourses. The Large-Scale Manufacturing Industries (LSMI) output witnessed an increase of 2.4pc year-on-year in July, while on month-on-month, it shrank by 2.1pc. After four months, the country posted a current account surplus of $75m in August. The government rejected all bids in the T-bill auction on Wednesday. Moreover, the Pakistan Investment Bonds auction witnessed a , ranging from 190-335bps across all tenors. The State Bank of Pakistan’s foreign exchange reserves increased by $43m, reaching $9.5bn. Furthermore, the rupee appreciated 0.12pc against the dollar to Rs277.81. As a result, the market closed at 82,074.45 points, marking an increase of 2,741 points or 3.5pc week-on-week. Sector-wise positive contributions came from commercial banks (1,139 points), exploration and production (637 points), fertiliser (631 points), cement (161 points) and oil and gas marketing companies (74 points). Meanwhile, the sectors that mainly contributed negatively were refinery (30 points), engineering (29 points) and glass and ceramics (24 points). Scrip-wise positive contributors were Mari Petroleum (567 points), Fauji Fertiliser Company (324 points), Meezan Bank Ltd (304 points), Engro Fertiliser (287 points), and MCB Bank (278 points). Meanwhile, scrip-wise negative contributions came from National Bank of Pakistan (33 points), Pakistan Petroleum Ltd (29 points), DGKC (27 points), Fauji Fertiliser Bin Qasim (23 points) and Tariq Glass Industries (22 points). Aggressive selling by foreigners clocked in at $23m compared to a net sell of $7.5m last week. Major selling was witnessed in fertiliser ($9.8m), E&P’s ($6.1m) and banks ($2.8m). On the local front, buying was reported by mutual funds ($15.5m), followed by individuals ($4.4m) and banks ($3.3m). The average volume dipped 22.6pc to 469m shares while the value traded jumped 20.9pc to $66m week-on-week.
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Recommended Reads had yet to comment on the reported outages till going to press. In August, the PTA said that internet services across the country were expected to remain slow till “early October”, since the submarine cable responsible for the disruptions would likely be repaired by then. “The ongoing internet slowdown across the country is mainly due to [a] fault in two (SMW4, AAE-1) of the seven international submarine cables connecting Pakistan internationally,” the PTA had said “It is updated that [the] fault in SMW-4 submarine cable is likely to be repaired by early October 2024,” the telecom authority had added. “Submarine cable AAE-1 has been repaired which may improve internet experience.”
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