Business
Pakistan Stock Exchange staged a strong comeback – SUCH TV
Pakistan Stock Exchange (PSX) on Friday staged a strong comeback, breaking the long bearish momentum as snowballing forex reserves have lifted investor sentiment.
During intraday trading, the PSX’s benchmark KSE-100 index gained a whopping 3,146.23 points to climb to 184,602.56 points, marking a positive change of 1.70%.
Out of 562 active companies, share prices of 375 advanced and of 67 declined while rates of 120 companies remained unchanged.
Economic analysts said the uptick offered some breathing space for the economy, even as the country continued to keep a close watch on external inflows and outflows.
Pakistan’s foreign exchange reserves inched up by $16 million over the past week, according to figures released by the State Bank of Pakistan.
The central bank said its official reserves rose from $16.0557 billion to $16.0718 billion, showing a modest gain during the week.
Overall, the country’s total reserves climbed to $21.2484 billion.
The State Bank also noted that commercial banks’ holdings went up by $5.6 million, reaching $5.1927 billion.
The central bank projects the FY26 current account deficit at 0–1% of GDP and sees reserves at $17.8 billion by June 2026 with planned official inflows.
A day earlier, the stock exchange dropped by over 1,100 points due to massive selling pressure.
The PSX had extended losses after recording an increase for a brief period as investors seemed cautious amid rising geopolitical tensions involving Iran.
During intraday trading, the KSE-100 index touched 183,717.53 due to strong buying in the early sessions before it turned bearish by losing 69.29 points to close at 182,500.52 points.
International officials have warned that US military intervention in Iran now appears likely and could take place within the next 24 hours amid sharply escalating tensions in the Middle East.
American, European and Israeli sources said preparations for possible action were under way as Washington began evacuating personnel from its major air base in Qatar.
One man says he cancelled his holiday to Spain due to the rising costs and uncertainty.
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MUMBAI: Vijay Singh, a former Indian defence secretary whose eligibility as a trustee has come under legal challenge, absented himself from the board meeting of the Bai Hirabai Jamsetji Tata Navsari Charitable Institution on Friday, the latest sign of an intensifying governance dispute within India’s most powerful philanthropic network.The challenge was brought by Mehli Mistry, a former trustee, before the Maharashtra charity commissioner, questioning the appointments of Singh and Venu Srinivasan as trustees of Bai Hirabai. Mistry cited clauses in the 1923 trust deed requiring all trustees to be Zoroastrians and permanent residents of Mumbai, and argued that neither of them met those conditions.Srinivasan, chairman emeritus of TVS Motors, stepped down citing other commitments, but later acknowledged he had done so at the request of Tata Trusts management. Singh declined a similar request. Those present at the Friday meeting included chairman Noel Tata, trustees Darius Khambata and Jehangir HC Jehangir, the last of whom joined by video conference from Europe. Jimmy Tata, Noel’s older half-brother and a fellow trustee, was again absent. Singh confirmed he did not attend the meeting. A person familiar with the proceedings said the board discussed, among other matters, Mistry’s objections and next steps.The dispute has exposed a deeper legal tension. Both Srinivasan and Singh alleged that Tata Trusts had withheld from them a legal opinion by former chief justice of India MH Kania, who held that the restrictive eligibility clauses in Bai Hirabai’s trust deed were “bad in law.” That interpretation had previously allowed former Tata Group director RK Krishnakumar to be inducted onto the board. Tata Trusts said irrespective of that opinion and past precedent, appointments of non-Zoroastrians remained open to challenge under the deed’s provisions, adding that a legal opinion did not substitute for a judicial pronouncement. The commissioner has yet to order a formal inquiry. Bai Hirabai was endowed by Sir Ratan Tata, younger son of Tata Group founder Jamsetji Tata, who bequeathed properties in Mumbai and Navsari to the institution, the provenance that gives its century-old deed its continuing legal force.
The UK’s biggest mobile providers have been outperformed by smaller rivals in an annual customer service survey by watchdog Which?
Three, O2 and Lycamobile were the lowest performing networks in the survey of more than 5,000 mobile users, receiving customer scores of 65%, 67% and 68% respectively.
Three received a two-star rating in every category including network reliability and technical support, the consumer group found.
O2 received just two stars for value for money and customer service, shortly after it increased its annual price rises from £1.80 to £2.50 a month for all customers.
Lycamobile received four stars for value for money but two stars in every other category.
EE and Vodafone achieved scores of 74% and 72% respectively, although Which? described them as “stuck in the middle to lower reaches of the table”.
Talkmobile topped the rankings with a customer score of 83% followed by Tesco Mobile on 81%, with both impressing customers with their network reliability, customer service and value for money.
Other top-rated networks included Giffgaff and Smarty, which both received a score of 79%, driven by their flexibility and affordable Sim-only deals.
Lebara and 1pMobile both achieved a score of 78%, with customers praising 1pMobile’s network reliability and value for money and Lebara earning five stars for value for money.
According to the survey, respondents using one of the ‘big four’ – EE, O2, Three and Vodafone – paid an average of £16 for a Sim-only contract, compared with just £9 on smaller networks.
For contracts including a phone, users paid an average £40 with the ‘big four’ compared with £28 with smaller providers.
Many smaller firms use the infrastructure of the ‘big four’, meaning customers often receive the same signal and coverage.
Which? head of home products and services, Natalie Hitchins, said: “Our latest research shows that smaller providers are consistently outshining the industry’s largest mobile firms by offering better customer service and far cheaper deals.
“Many top-rated challengers avoid mid-contract price hikes, offering households struggling with the cost of living much-needed certainty.
“Any customers nearing the end of their contract who are unhappy with their service, or simply looking to save money, should not hesitate to vote with their feet and move to a provider that actually delivers on value.”
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