Entertainment
PSX hits record high on UAE rollover optimism
The equity market rose on Monday as optimism over a prospective United Arab Emirates (UAE) investment in Fauji Foundation and a $1 billion rollover buoyed risk appetite and drove the bourse to a new all-time intraday high.
The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index climbed to an intraday high of 174,411.72, gaining 2,010.99 points, or 1.17%, and recorded a low of 173,200.41, reflecting a gain of 799.68 points, or 0.46%.
“Bullish activity witnessed as investors eye UAE $1 billion rollover liability set to end, acquiring shareholding in Fauji Foundation,” said Ahsan Mehanti, Managing Director and CEO of Arif Habib Commodities.
“Government deliberation on privatisation of ailing SOEs [state-owned enterprises], rupee stability and surging global crude oil prices played a catalyst role in bullish activity at PSX,” he added.
Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar said on Saturday that the UAE is set to acquire shares in the Fauji Foundation as part of ongoing economic cooperation, adding that the transaction is expected to help settle a $1 billion liability while a further $2 billion loan could be rolled over.
He said the understanding followed the UAE president’s visit and expressed hope the share acquisition would be completed by March 31, 2026; Islamabad is also seeking to persuade the UAE to reinvest $2 billion due in January.
“The recent comment by Ishaq Dar on the potential acquisition of Fauji Group shares by the UAE has sparked a rally in Fauji Group companies, driving the market upwards predominantly today,” said independent investment and economic analyst AAH Soomro. He further added: “Overall bullishness continues.”
On Friday, the benchmark KSE-100 Index closed higher by 1,570.51 points, or 0.92%, to 172,400.73 from 170,830.22, after trading between a high of 172,582.96 and a low of 171,146.14.
Queen Camilla got a cultural fix on Tuesday during a busy day in Bath, exploring the city’s arts and literary scene with curiosity and charm.
At the Holburne Museum, the Queen wandered through the exhibits with evident fascination, taking in each piece as curator Rosemary Harden guided her through the collection.
Her visit included the Zandra Rhodes: A Life in Print exhibition that brings a selection of screen-printed garments from the 1960s, 70s and 80s.
Camilla revealed a personal connection, “My sister Annabel Elliot had a wedding dress made by Rhodes,” she shared, nodding to the designer who also famously dressed the late Princess Diana.
The royal then made her way to Bath’s Theatre Royal, meeting staff and volunteers while checking out a new community studio.
She also unveiled a toy theatre, part of the theatre’s ongoing plans to create an engaging space for local families.
The Queen then rounded off her cultural tour with a stop at @PersephoneBooks, the independent publisher and bookshop founded in 1999, which specialises in reprinting forgotten gems mostly fiction and non-fiction by women writers.
There, she chatted with Francesca and Nicola Beauman, taking in the literary treasures that make the shop a Bath institution.
Entertainment
Robert Duvall, known for his roles in "The Godfather" and "Apocalypse Now," dies at 95
Oscar-winning actor Robert Duvall died on Sunday at the age of 95. Duvall starred in classics like “The Godfather” and “Apocalypse Now.” Vladimir Duthiers looks back at his career.
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Streets are about to turn purple, green, and gold as communities celebrate Mardi Gras.
The celebration dates back centuries, preceding the Christian season of Lent.
Commonly known as “Fat Tuesday,” Mardi Gras is celebrated the day before Ash Wednesday, representing the start of Lent, 40 days of fasting and reflection leading up to Easter.
The tradition linked to European Christians serves as a final opportunity to enjoy rich foods before the more solemn season starts.
Here are some surprising facts about Mardi Gras that you may not know.
It’s a legal holiday in Louisiana
Mardi Gras is officially celebrated across the United States. However, the government of Louisiana declares it an official holiday. Considering how deeply the festival is woven into the state’s culture, the government offices and schools remain closed.
Mardi Gras colors have meaning
The official colors (purple, green, and gold) are not chosen randomly. In 1872, the Krewe of Rex in New Orleans assigned meaning to them. Purple represents justice, green indicates faith while gold is the symbol of power.
Mask wearing is required by law
Legal bodies in New Orleans have mandated float riders to wear masks. The rule dates back to the 19th century and was designed to encourage anonymity and social equality during the festivities.
UNESCO Belgium recognises it formally
The Carnival of Binche in Binche holds so much significance culturally that it was recognised by UNESCO as part of the Intangible Cultural Heritage of Humanity. Performers known as Gilles throw oranges into crowds as part of the celebration.
Largest free party in the U.S.
Mardi Gras is also known as the largest free party in the United States, attracting over a million visitors in peak years.
From medieval Europe to modern-day America, the celebration continues to blend faith, culture, and community. Mardi Gras is set to conclude at midnight.
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