January 9, 2026 - Daily Capital Mail

US Senate advances resolution to curb Trump’s war powers in Venezuela

January 9, 2026 capital

The US Senate advanced a resolution on Thursday that would bar President Donald Trump from taking further military action against Venezuela without congressional authorization, paving the way for further consideration in the 100-member chamber. The vote on a procedural measure to advance the war powers resolution was 52 to 47, as five of Trump’s fellow Republicans voted with every Democrat in favor of moving ahead. One Republican senator did not vote. The vote took place days after US forces captured Venezuelan President Nicolas Maduro in a dramatic military raid in…

China slams ships seizure by US

January 9, 2026 capital

China has said that the arbitrary detention of foreign vessels in international waters by the United States constitutes a serious violation of international law. A day earlier, Moscow condemned the move, with Russian experts describing it as “state-level piracy.” China’s response followed an announcement by the US European Command that it had seized an oil tanker linked to Venezuela and registered as a Russian vessel during an operation in the North Atlantic on Wednesday. Speaking at a regular press briefing on Thursday, Chinese Foreign Ministry spokesperson Mao Ning said Beijing…

Brazil’s Bolsonaro declared healthy after prison fall

January 9, 2026 capital

BRASILIA: Brazil’s far-right ex-president Jair Bolsonaro was declared healthy on Wednesday after a battery of tests to check him for head injuries following a fall in prison, where he is serving 27 years for leading a failed coup d’etat. The 70-year-old was taken from a federal police detention facility to the DF Star private hospital for a CT scan, MRI and EEG test, according to a Supreme Court authorization seen by AFP. Doctor Brasil Caiado later told reporters the tests revealed a “mild head injury” but “no intracranial injuries, which…

Brazil’s Bolsonaro declared healthy after prison fall

January 9, 2026 capital

Lebanon says first phase of disarming Hezbollah complete

January 9, 2026 capital

BEIRUT: Lebanon’s army said Thursday that it had completed the first phase of its plan to disarm Hezbollah in south Lebanon, while Israel called the efforts encouraging but “far from sufficient”. Under heavy US pressure and amid fears of expanded Israeli strikes, Lebanon has committed to disarming the Iran-backed militant group, which was badly weakened after more than a year of hostilities including two months of all-out war that ended with a November 2024 ceasefire. Despite the truce, Israel has kept up regular strikes in Lebanon, usually saying it is…

Foreign reserves rise $141m to $21.19b

January 9, 2026 capital

KARACHI: Pakistan’s total liquid foreign currency reserves stood at $21.19 billion as of January 2, 2026, reflecting a modest improvement in the country’s external liquidity position, according to official data. The State Bank of Pakistan (SBP) held $16.06 billion in foreign reserves, while commercial banks collectively maintained net foreign reserves of $5.14 billion, bringing the total liquid reserves to $21.19 billion. During the week ended January 2, the SBP’s foreign exchange reserves increased by $141 million, signalling a slight strengthening of the central bank’s buffer amid ongoing external pressures. Analysts…

Govt fixes dollar rate, shifts to KIBOR for 5G

January 9, 2026 capital

ISLAMABAD: The Ministry of IT and Telecom has acknowledged long-standing demands of the telecom sector by easing payment terms and fixing exchange and interest rates in its policy directive for the upcoming next-generation mobile spectrum auction, a move that clears the way for the Pakistan Telecommunication Authority to issue the Information Memorandum for existing operators and new entrants to participate in the process. Under the approved framework, the spectrum fee has been denominated in US dollars, but the exchange rate will be calculated at the National Bank of Pakistan’s TT…

PSX snaps rally, sheds 976 points

January 9, 2026 capital

KARACHI: The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) ended on a softer note on Thursday, shedding around 975 points to settle slightly above 185,500, as investors booked profits following a strong five-day rally. “During the session, investors opted for profit realisation after the recent robust gains,” said Ali Najib, Deputy Head of Trading at Arif Habib Ltd (AHL). “Following a sharp rally of 12,464 points (+7.2%) in the initial five sessions of CY26, the PSX witnessed its first profit-taking session today (Thursday).” The KSE-100 index ended the…

OGRA moves to scrap fixed returns in gas pricing

January 9, 2026January 9, 2026 capital

ISLAMABAD: Following the government’s plan to restructure gas utilities, the Oil and Gas Regulatory Authority (OGRA) has decided to review the existing gas pricing formula based on return on fixed assets, keeping in view current gas sector dynamics and market liberalisation. The government had tasked the OGRA with restructuring the two public gas utilities by doing away with the fixed asset-based return. According to officials, the regulator hired consultancy firm KPMG to review the formula, and it has submitted its report. The regulator has started consultations with stakeholders to change…

SME financing gaps highlighted at Lahore expo

January 9, 2026January 9, 2026 capital

LAHORE: The Lahore Chamber of Commerce and Industry on Thursday organised the SME Finance and Banking Expo to provide small and medium enterprises direct access to banking facilities, financing schemes and financial products. According to a statement, the day-long event saw participation from almost all major commercial banks, Islamic banks and financial institutions operating in the country. Banks set up dedicated stalls where a large number of LCCI members visited to obtain information on SME-focused financing products, refinance schemes, credit facilities, Islamic finance models and digital banking solutions. The expo…