capital, Author at Daily Capital Mail

China’s trade surplus hits $1.08 trillion as currency valuation debate resurfaces

December 22, 2025 capital

KARACHI: China’s merchandise trade surplus surged by $111.7 billion in November, reaching an impressive $1.08 trillion for the first 11 months of the year, a 22.1% increase compared to the same period of last year, according to official data. Western media have described the massive trade surplus as “remarkable,” but also warned that it could be “unsustainable,” citing concerns over China’s undervalued renminbi (RMB). The soaring surplus has raised eyebrows among economists, many of whom have called on Beijing to allow the renminbi to appreciate more gradually over the next…

Building material prices hit record high

December 22, 2025 capital

RAWALPINDI: New federal and provincial taxes, along with continuous increases in electricity, gas and transportation costs, have led to an unprecedented rise in the prices of all building materials. In the market, top-quality bricks are now priced at Rs25,000 per thousand, prompting contractors to rely more heavily on old bricks. A bag of cement is available at Rs1,350, steel at Rs255,000 per ton, gravel at Rs3,500 per trolley, sand at Rs3,000 per trolley, masonry labour at Rs2,500 per day, and general labour at Rs1,500 per day. Prices of cement plaster,…

LHC suspends Punjab property ordinance

December 22, 2025 capital

Lahore High Court Chief Justice Alia Neelum sharply rebuked the Punjab Chief Secretary during a hearing, accusing him of undermining judicial supremacy and warning that “if he had his way, he might even suspend the Constitution.” The hearing concerned petitions challenging the Punjab Property Ownership Ordinance, including those filed by Abida Parveen and others. The court suspended the implementation of the ordinance, recommended the formation of a full bench to address objections, and restored possession of properties seized under the ordinance. The Punjab Property Ownership Ordinance, passed just last month, aimed…

Zardari visits Iraqi shrines, calls for Muslim unity

December 22, 2025 capital

President Asif Ali Zardari, who is on a four-day official visit to Iraq, visited on Monday prominent religious shrines in Baghdad and prayed for peace, unity and security of the Muslim Ummah, as Islamabad and Baghdad seek to deepen bilateral cooperation. During the visit, the president paid respects at the shrines of Hazrat Sheikh Abdul Qadir Jilani, Imam Musa al-Kazim and Imam Muhammad al-Taqi al-Jawad, where he offered nawafil, met the shrine administrators and recorded his remarks in the visitors’ books. He also visited the shrine of Imam Abu Hanifa…

‘Russian strikes aim to cut off Ukraine from sea’

December 21, 2025 capital

KYIV: Russia is trying to sever Ukraine’s access to the Black Sea, President Volodymyr Zelenskiy said on Saturday, following days of ramped-up airstrikes on ports and energy facilities in the Odesa ‌region and a critical route to the ‍Moldova border. Russia has ‌unleashed an almost continuous drone and missile campaign against a region where ports key to Ukraine’s foreign trade and fuel supplies operate, after Moscow threatened to cut “ Ukraine off from the sea.” Strikes have escalated even as the US pursues an uphill diplomatic drive to coax a…

PNS Khaibar commissioned as Pakistan-Turkey naval project advances

December 21, 2025 capital

The second Pakistan Navy MILGEM-class ship, PNS Khaibar, was commissioned at the Istanbul Naval Shipyard on Sunday, marking another milestone in Pakistan–Turkey defence cooperation. Turkish President Recep Tayyip Erdoğan, who attended the ceremony as chief guest alongside Pakistan’s Chief of Naval Staff Admiral Naveed Ashraf, described Pakistan–Turkey relations as exemplary and emphasised the need for deeper collaboration in defence production. According to a statement issued by the Inter-Services Public Relations (ISPR), Admiral Ashraf acknowledged the role of ASFAT, the Istanbul Naval Shipyard and the original equipment manufacturers in the planning,…

Netanyahu plans to brief Trump on possible new Iran strikes, NBC News reports

December 21, 2025 capital

US President Donald Trump is set to be briefed by Israel’s Prime Minister Benjamin Netanyahu that any expansion of Iran’s ballistic missile program poses a threat that could necessitate swift action, NBC News reported on Saturday. Israeli officials are concerned that Iran is reconstituting nuclear enrichment sites the U.S. bombed in June, and are preparing to brief Trump for options on attacking the missile program again, the NBC report added. According to NBC, Israeli officials are increasingly concerned that Iran is working to reconstitute nuclear enrichment sites struck by US…

Pakistan receives $700m WB financing for tax reforms, budget transparency

December 21, 2025 capital

ISLAMABAD: After a struggling $470 million loan package aimed at increasing taxes, the World Bank has approved another $700 million loan to bring fairness to the tax system and improve budget transparency giving funds to areas that require improvement in governance structure rather than foreign lending. The World Bank’s Board of Executive Directors approved $700 million in financing for the Pakistan Public Resources for Inclusive Development, according to an announcement by the World Bank’s office in Pakistan. The new loan package is a multi-year, multi-programme initiative to support macroeconomic stability…

PSX gains despite mixed macros

December 21, 2025 capital

KARACHI: The KSE-100 index of the Pakistan Stock Exchange (PSX) extended its upward momentum, rising 1,540 points (0.91%) week-on-week to close at 171,404, boosted by the State Bank of Pakistan’s surprise 50-basis-point (bps) rate cut to 10.5%. Market sentiment was further supported by a modest current account surplus of $100 million in November 2025, reversing a $291 million deficit in October, even as the cumulative deficit for 5MFY26 reached $812?million. On a day-on-day basis, after multiple unsuccessful attempts, the PSX finally managed to close above the key 170k level on…

Cotton exchange sealing sparks widespread concern

December 21, 2025 capital

KARACHI: Businessmen have expressed grave concern over the ongoing closure and sealing of the historic Karachi Cotton Exchange building, located on II Chundrigar Road, and its increasingly detrimental effects on cotton trade and the broader cotton economy of Pakistan. In a joint statement issued on Saturday, Businessmen Group (BMG) Chairman Zubair Motiwala and Karachi Chamber of Commerce & Industry (KCCI) President Muhammad Rehan Hanif said that the continued sealing of the building by federal authorities, following a joint raid by the Federal Investigation Agency (FIA) and the Evacuee Trust Property…