Entertainment
KSE-100 crosses 158,000 mark, sets new all-time high
- KSE-100 Index closed at 157,953.46 points, up 1,775.65 points, or 1.14%.
- Index touched intraday high of 158,082.55, up 1,904.74 points, or 1.22%.
- Session’s low recorded at 156,978.85, still up 801.04 points, or 0.51%.
The equity market advanced sharply on Thursday, closing at a fresh record as investor sentiment was buoyed by a landmark Strategic Mutual Defence Agreement signed between Pakistan and Saudi Arabia.
The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index settled at 157,953.46 points, up 1,775.65 points, or 1.14%, from the previous close of 156,177.81.
During the session, the index climbed to an intraday high of 158,082.55 points, gaining 1,904.74 points, or 1.22%. The session low was recorded at 156,978.85 points, still higher by 801.04 points, or 0.51%.
“The news about the defence partnership has brought excitement across the board. This is a major macro rerating game changer that can pour more liquidity and reduce risk premium,” AAH Soomro, an independent investment and economic analyst.
“The index may head upwards without corrections,” he added.
Pakistan and Saudi Arabia on Wednesday formalised a landmark Strategic Mutual Defence Agreement, pledging to treat any aggression against one country as aggression against both.
The pact was signed during Prime Minister Shehbaz Sharif’s state visit to Riyadh, where he was received by Crown Prince and Prime Minister Mohammed bin Salman at Al-Yamamah Palace.
The pact reflects a joint commitment to enhance bilateral security ties and contribute to regional and global peace, the statement said. It aims to develop defence cooperation further and strengthen joint deterrence against any aggression. Crucially, the agreement stipulates that any aggression against one country shall be considered aggression against both.
The government also raised Rs195 billion from the auction of market Treasury bills (T-bills) on Wednesday, surpassing its Rs175 billion target. However, it rejected bids for the 10-year floating-rate Pakistan Investment Bond (PIB) as investors demanded higher returns.
The T-bill auction drew participation worth Rs1.07 trillion, with yields ending nearly flat. The cut-off yield on a one-month paper eased by 1 basis point (bp) to 10.7445%. The three-month bill yield stood unchanged at 10.8502%, while the six-month paper edged down 1bp to 10.8376%. The 12-month yield also stayed steady at 10.9999%.
The State Bank of Pakistan (SBP) on Monday held its policy rate steady at 11% for the third consecutive meeting, citing inflation concerns amid devastating floods. Since June 2024, the central bank has slashed rates by a total of 1,100bps, but kept them unchanged in June, July, and now September.
By comparison, in the previous session on Wednesday, the KSE-100 Index closed almost flat, down 3.12 points to 156,177.82 from 156,180.94. The day’s high was 157,196.59 points, while the low stood at 155,960.36 points.
Entertainment
Hillary Duff weighs in on her feelings towards Lizzie McGuire revival cancelation
Hillary Duff has just answered one question fans have been dying to get answers to after Lizzie McGuire was rebooted.
The whole conversation happened while the 38-year-old was sitting on the Jake Shane‘s podcast Therapuss and featured one of the most asked takes, i.e. whether McGuire would end up with Adam Lamberg‘s character Gordo.
According to Duff herself, “I think that there was just disagreements on how far we could take [Lizzie] and where she is, as you know, she would have been when we were filming that 30 or 31.”
“And for me, I was that age and so I just also felt so deeply connected to her as a character because we were the same. And I was like, oh, man, we can’t Mary Tyler Moore her that’s not, I don’t know, it was 2023. You know what I mean?”
“There’s social media and we weren’t I wasn’t trying to have her wake up and do bong rips or anything, but she was a normal 30-year-old, you know? So, there was some things I think they just weren’t like, totally willing to go there.”
The last McGuire release prior to this was in 2003 when the series wrapped up her story via The Lizzie McGuire Movie, and featured her kissing Gordo.
However, the actor does not think they would have ended up together because “I don’t think they had a thing post. I think they had maybe an almost thing post. I know, again, another swing at it that didn’t. But I think that there was a thing with someone else that was just very quick.”
“In my mind, I like to think she had a thing with Ethan Craft finally,” the star concluded by saying.
For those unversed, Craft was Lizzie’s middle school crush played by Clayton Snyder.
Entertainment
What US airports are cutting flights? Full list of 40 hubs amid FAA cuts
U.S. Federal Aviation Administration (FAA) has imposed a 10% reduction in flights at 40 of the nation’s busiest airports starting Friday, November 7.
The decision was announced by Transportation Secretary Sean Dufffy as a necessary step to maintain safety, as air traffic controllers are forced to work without their pay which causes widespread chaos and shortages in staff causing major flight delays.
FAA Administrator Bryan Bedford stated at a press conference, “We are seeing pressures build in a way that we don’t feel will allow us to continue to tell the public that we operate the safest airline system in the world.”
The cuts will be implemented in phases starting with 4% reduction on Friday, November 7, then 5% on Saturday, November 8, and 6% on Sunday, November 9.
It is forecasted that a complete 10% cut will be imposed next week. The move aims to minimize pressure on air traffic controllers on “high volume” airports as the workers will be missing their second paycheck since the shutdown began 36 days ago.
List of Impacted Airports
FAA has not issued a complete list of airports but as reported by CBS News, following airports are more likely to be impacted:
- Anchorage International (ANC)
- Hartsfield-Jackson Atlanta International (ATL)
- Boston Logan International (BOS)
- Baltimore/Washington International (BWI)
- Charlotte Douglas International (CLT)
- Cincinnati/Northern Kentucky International (CVG)
- Dallas Love (DAL)
- Ronald Reagan Washington National (DCA)
- Denver International (DEN)
- Dallas/Fort Worth International (DFW)
- Detroit Metropolitan Wayne County (DTW)
- Newark Liberty International (EWR)
- Fort Lauderdale/Hollywood International (FLL)
- Honolulu International (HNL)
- Houston Hobby (HOU)
- Washington Dulles International (IAD)
- George Bush Houston Intercontinental (IAH)
- Indianapolis International (IND)
- New York John F Kennedy International (JFK)
- Las Vegas Harry Reid International (LAS)
- Los Angeles International (LAX)
- New York LaGuardia (LGA)
- Orlando International (MCO)
- Chicago Midway (MDW)
- Memphis International (MEM)
- Miami International (MIA)
- Minneapolis/St Paul International (MSP)
- Oakland International (OAK)
- Ontario International (ONT)
- Chicago O`Hare International (ORD)
- Portland International (PDX)
- Philadelphia International (PHL)
- Phoenix Sky Harbor International (PHX)
- San Diego International (SAN)
- Louisville International (SDF)
- Seattle/Tacoma International (SEA)
- San Francisco International (SFO)
- Salt Lake City International (SLC)
- Teterboro (TEB)
- Tampa International (TPA)
Airport scrambles, offer refunds
The announcement sent airlines scrambling to adjust their schedules within 36 hours. As notice circulated, airlines announced their strategies to combat the ongoing situation.
United Airlines CEO Scott Kirby stated that the carrier will spare long-haul international flights and will rather focus on regional flying and non-hub domestic routes.
“United’s long-haul international flying and our hub-to-hub flying will not be impacted by this schedule reduction direction from the FAA. That’s important to maintain the integrity of our network, give impacted customers as many options as possible to resume their trip, and sustain our crew pairing systems,” he stated in a memo.
“Instead, we will focus our schedule reductions on regional flying and domestic mainline flights that do not travel between our hubs,” he added.
The airline also offered refunds for its customers stating “any customer traveling during this period is eligible for a refund if they do not wish to fly – even if their flight isn’t impacted. That includes non-refundable tickets and those customers with basic economy tickets.”
American Airlines stated that it expects the “vast majority” of its customers’ travel to be unaffected.
Southwest Airlines said it was evaluating the impact and would communicate with customers directly, while also urging Congress to “immediately resolve its impasse.”
Entertainment
‘K-Pop Demon Hunters’ gives exciting update on second part
A sequel to Netflix‘s hit animated film K-Pop Demon Hunters has reportedly been confirmed, and has gotten a release date.
As per Deadline, K-Pop Demon Hunters has been officially been greenlit by Netflix and Sony, just months after the hit film’s release.
While details remain scarce, the report indicates that K-Pop Demon Hunters 2 is slated to release sometime in 2029.
Additionally, creator-director Maggie Kang and co-director Chris Appelhans are set to return for the second installment.
Plans for an animated sequel were being discussed as early as August 28, just days after the original film’s release.
Released on August 23, the Netflix movie tells the story of a group of internationally renowned K-Pop idols who lead a double life as demon hunters.
K-Pop Demon Hunters almost immediately became the most watched film in Netflix history, and its success was bolstered by sing-along screenings held in cinemas, reportedly grossing around $20million in a single weekend.
Following the success of the film, rumours began circulating that a live-action remake is being considered however, creator and director of the film, Maggie Kang, told the BBC she doesn’t like that idea.
“There’s so many elements of the tone and the comedy that are so suited for animation,” she said, adding, “It’s really hard to imagine these characters in a live-action world. It would feel too grounded. So totally it wouldn’t work for me.”
Co-director Chris Appelhans agreed, saying, “One of the great things about animation is that you make these composites of impossibly great attributes. Rumi can be this goofy comedian and then singing and doing a spinning back-kick a second later and then freefalling through the sky. The joy of animation is how far you can push and elevate what’s possible. I remember they adapted a lot of different anime and often times, it just feels a little stilted.”
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