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Profit, dividend repatriation rises to $807m in July-October KARACHI: The repatriation of profits and dividends from foreign investments in Pakistan increased by 66.26 per cent to $807.2 million in the first four months of this fiscal year, the central bank data showed on Tuesday. Multinational firms and foreign investors who participated in the local stock market sent $413.8 million to their home countries in October, compared with $18.7 million a month earlier. Since the start of the fiscal year 2025, foreign companies operating in Pakistan have been sending home a significant amount of their repatriated revenues due to the ongoing improvement in the nation’s external account. Pakistan’s foreign exchange reserves held by the central bank rose by $29 million to $11.29 billion as of November 15.The current account balance recorded a surplus for the third consecutive month in October. Pakistan posted a current account surplus of $349 million in October, bringing the cumulative surplus from July to October to $218 million. Analysts say that although the figures seem higher on an annual basis, they actually show normalised repatriation because the government stopped repatriating profits for several months last year in order to manage external liabilities. Normalised repatriation implies that the government is permitting foreign companies to move their profits overseas. Data from the SBP shows that the amount of profit repatriation from foreign direct investment increased from $456.2 million in July-October of last year to $772.5 million in July-October of FY25. Profits and dividends from investments were paid out in July-October totalled $34.7 million, compared with $29.2 million a year earlier. In July-October FY25, the food sector saw the biggest outflow of profits and dividends, with $186 million, up from $68.4 million last year. After $115.5 million in repatriations, the power sector came in second, while the financial businesses came in third with $94.4 million in outflows in the first four months of the current fiscal year.The Australian sharemarket is tipped to open stronger after a quiet post-holiday session on Wall Street, where the latest data on jobless claims did little to change the minds of investors on where interest rates are headed next. The ASX 200 futures were up 0.2 per cent to 8,217 points as of 7.50 AEDT, while the Australian dollar was down 0.3 per cent to 62.19 US cents. Overnight, US stocks struggled to gain traction after a rally that sent the S&P 500 to its best Christmas Eve performance since 1974, according to data compiled by Bespoke Investment Group. With major European markets closed, volume in the US equity gauge was well below the average of the past month. US stocks are upbeat going into the new year, but volatility could be just around the corner. Credit: Bloomberg The S&P 500 hovered near 6,043 points, while the Nasdaq edged up 0.1 per cent to 20,055 points. The Dow Jones Industrial Average was little changed. Most megacaps fell, though Apple outperformed after a bullish note from Wedbush. GameStop rallied after an X post from Keith Gill, the online persona known as Roaring Kitty. Wall Street took the latest economic data in its stride. Recurring applications for US unemployment benefits rose to the highest in more than three years, adding to signs that it is taking longer for out-of-work people to find a job. Initial claims, meanwhile, ticked down to 219,000 in the week ended December 21. “Eco data is a non-event until we move into the new year,” said Kenny Polcari at SlateStone Wealth. “Christmas is behind us, but the New Year is ahead of us. Volumes will remain muted.” To Jonathan Krinsky at BTIG, the market can continue to make upside progress into year-end, hitting a fresh all-time high for the S&P 500 above 6,100. Looking ahead to January, however, he thinks volatility will re-emerge. “If the S&P 500 does make new highs, there are going to be massive divergences in breadth and momentum, which is another red flag as we get into January,” he noted. The yield on 10-year Treasuries dropped one basis point to 4.58 per cent. The Bloomberg Dollar Spot Index rose 0.1 per cent. Bitcoin sank as traders reduced their risk exposure after a record-breaking run. Spot gold was up 0.8 per cent to $US2,634/ounce on thin trade. The precious metal has jumped 28 per cent this year, supported by monetary easing in the US, safe-haven demand and sustained buying by the world’s central banks. Meanwhile, Brent crude price slipped 0.6 per cent to $US73.12/barrel on news that US crude exports to China had slipped by almost half this year as shifts in the nation’s economy weighed on demand, and it bought more barrels from other countries, including Russia and Iran. With assistance from Omar El Chmouri and Aya Wagatsuma. Bloomberg L.P.Newmont Corp. stock rises Thursday, outperforms market
Drew Lock likely to start at QB for the Giants against the Colts on Sunday
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New Delhi: Scientists at the Bose Institute, an autonomous institute of the Department of Science and Technology (DST), have studied archaea — a domain of ancient organisms — to find clues to survival strategies of microorganisms by adapting to harsh conditions with the help of their toxin-antitoxin (TA) systems. Archaea, which means “ancient things” in Greek, are one of the oldest forms of life on Earth and belong to a group called the third domain of life. Many archaea live in some of the harshest environments on Earth, which makes them ideal for studying how life can survive in tough conditions. The team, led by Dr Abhrajyoti Ghosh at the Department of Biological Sciences, explored how certain archaea toxin-antitoxin (TA) systems help these organisms cope with high temperatures. In the study, published in the journal mBio, Ghosh and his team studied a specific TA system in a heat-loving archaeon called Sulfolobus acidocaldarius to understand how it helps these organisms. They examined S. acidocaldarius, which lives in environments with hot volcanic pools like Barren Island in the Andaman and Nicobar Islands in India and some other volcanic areas in the world, that can get as hot as 90 degrees Celsius. The detailed analysis of the VapBC4 TA system that helps survival in the high-temperature environment, shows its important role during heat stress. They found that the VapC4 toxin carries out several functions, such as stopping protein production, helping the organism form resilient cells, and influencing biofilm creation. When the cell faces heat stress, a stress-activated protease (which hasn’t been identified in archaea yet) may break down the VapB4 protein (which otherwise checks the VapC4 toxin’s activity). Once VapB4 is gone, the VapC4 toxin is released and can stop protein production. This block in protein production is part of a survival strategy that helps cells form “persister cells” during stress. These persister cells go into a resting state, conserving energy and avoiding making damaged proteins. This dormancy helps them survive tough conditions until the environment improves, the scientists said.
Drew Lock likely to start at QB for the Giants against the Colts on SundayAs a fitness writer, I’d take advantage of this Fitbit Black Friday deal
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Colts need help for playoff shot, while Giants seek end to record skidAir traffic control language is commendably succinct. The advisory message that was sent out by the US Command Center at 11.50am GMT on Christmas Eve read: “Nationwide ground stop for all AAL Main and Subs”. AAL is , and the instruction to air traffic controllers across the US (and, as it emerged, the world) was to prevent the carrier’s planes from taking off. The fact that it affected “Subs” – smaller airlines flying regional trips for American, as well as the mainline operation – suggested something had gone awry with the departure control system. This is the technology that manages crucial elements of dispatching a flight, from check-in to load control – ensuring that the weight of passengers, cargo and fuel is appropriately distributed on the plane. The ground stop ended just an hour after it had begun. That was excellent news for the frustrated passengers packed on board flight AA137 from London to Los Angeles. The Boeing 777 pushed back from the gate on schedule at 11.15am but then held on the ground until the order was lifted. It finally took off at 1pm and is expected to reach California more than an hour late, jeopardising onward connections. In its post-meltdown statement, American Airlines followed standard aviation PR practice of blaming a third party: “A vendor technology issue briefly affected flights this morning. That issue has been resolved and flights have resumed. “It’s all hands on deck as our team is working diligently to get customers where they need to go as quickly as possible.” Good luck with that. The Christmas choreography of air traffic control does not respond well to a giant airline’s entire fleet (save for those already airborne) being held on the ground for an hour. I estimate around 300 flights, all with the necessary air traffic control clearances, were due to depart in that forbidden hour. Those precious permissions cannot simply be held over for the next hour: American Airlines itself has another 300 planes to dispatch in that timeframe. The departure from Heathrow to Charlotte, due out 40 minutes after the ground stop was lifted, took off an hour behind schedule. For connecting passengers, that raises stress levels. Add the uncertainty of how long it will take to clear US Customs and Border Protection, as every arriving passenger must do even if they are transferring to another international flight, and the prospect of reaching their destination before 25 December recedes. All this is happening when airline passengers are heavily invested, emotionally as well as financially, in their festive travel plans. The capacity for aviation to generate a novel nightmare scenario each Christmas knows no bounds. Particularly cruel incidents include at in 2018, which caused the Sussex airport to be closed for three days in the build-up to 25 December – grounding 1,000 flights and wrecking the plans of 150,000 travellers. Five years earlier, in the early hours of Christmas Eve 2013, the basement of Gatwick’s North Terminal flooded. , leading to around 100 flights being cancelled and stranding 11,000 passengers. when heavy snow halted operations for days and thwarted the plans of 600,000 travellers. What lesson can we learn from such flightmares before Christmas? That the more important your journey, the more days you should allow to rearrange your schedule if your plans unravel. Or stay put for the festive season and wait for fares and stress to subside. On Boxing Day, British Airways wants £1,080 for a round-trip from Gatwick to Tampa in Florida for a week; I am leaving 10 days later and paying less than half as much.
The Giants were a no-show against the Bucs after releasing quarterback Daniel JonesSurveillance tech advances by Biden could aid in Trump's promised crackdown on immigrationKendrick Lamar surprises with new album 'GNX' LOS ANGELES (AP) — Kendrick Lamar gave music listeners an early holiday present with a new album. The Grammy winner released his sixth studio album “GNX” on Friday. The 12-track project is the rapper’s first release since 2022’s “Mr. Morale & The Big Steppers.” Lamar’s new album comes just months after his rap battle with Drake. The rap megastar will headline February's Apple Music Super Bowl Halftime Show in New Orleans. The 37-year-old has experienced massive success since his debut album “good kid, m.A.A.d city” in 2012. Since then, he’s accumulated 17 Grammy wins and became the first non-classical, non-jazz musician to win a Pulitzer Prize. NBA memo to players urges increased vigilance regarding home security following break-ins MIAMI (AP) — The NBA is urging its players to take additional precautions to secure their homes following reports of recent high-profile burglaries of dwellings owned by Milwaukee Bucks forward Bobby Portis and Kansas City Chiefs teammates Patrick Mahomes and Travis Kelce. In a memo sent to team officials, a copy of which was obtained by The Associated Press, the NBA revealed that the FBI has connected some burglaries to “transnational South American Theft Groups” that are “reportedly well-organized, sophisticated rings that incorporate advanced techniques and technologies, including pre-surveillance, drones, and signal jamming devices.” Ancient meets modern as a new subway in Greece showcases archaeological treasures THESSALONIKI, Greece (AP) — Thessaloniki, Greece’s second-largest city, is opening a new subway system, blending ancient archaeological treasures with modern transit technology like driverless trains and platform screen doors. The project, which began in 2003, uncovered over 300,000 artifacts, including a Roman-era thoroughfare and Byzantine relics, many of which are now displayed in its 13 stations. Despite delays caused by preserving these findings, the inaugural line has been completed, with a second line set to open next year. Conor McGregor must pay $250K to woman who says he raped her, civil jury rules LONDON (AP) — A civil jury in Ireland has awarded more than $250,000 to a woman who says she was raped by mixed martial arts fighter Conor McGregor in a Dublin hotel penthouse after a night of heavy partying. The jury on Friday awarded Nikita Hand in her lawsuit that claimed McGregor “brutally raped and battered” her in 2018. The lawsuit says the assault left her heavily bruised and suffering from post-traumatic stress disorder. McGregor testified that he never forced her to do anything and that Hand fabricated her allegations after the two had consensual sex. McGregor says he will appeal the verdict. At least 19 people are sick in Minnesota from ground beef tied to E. coli recall U.S. health officials say at least 19 people in Minnesota have been sickened by E. coli poisoning tied to a national recall of more than 167,000 pounds of potentially tainted ground beef. Detroit-based Wolverine Packing Co. recalled the meat sent to restaurants nationwide. Minnesota state agriculture officials reported multiple illnesses and found that a sample of the product tested positive for E. coli, which can cause life-threatening infections. No illnesses have been reported outside of Minnesota. Symptoms of E. coli poisoning include fever, vomiting, diarrhea and signs of dehydration. Actor Jonathan Majors’ ex-girlfriend drops assault and defamation lawsuit against once-rising star NEW YORK (AP) — Jonathan Majors’ ex-girlfriend has dropped her assault and defamation lawsuit against the once-rising Hollywood star after reaching a settlement. Lawyers for Majors and Grace Jabbari agreed to dismiss the case with prejudice Thursday. Jabbari is a British dancer who had accused Majors of subjecting her to escalating incidents of physical and verbal abuse during their relationship. Representatives for Majors didn’t respond to emails seeking comment Friday. Jabbari’s lawyer said the suit was “favorably settled” and her client is moving on with “her head held high.” Majors was convicted of misdemeanor assault and harassment last December and sentenced to a yearlong counseling program. Hyundai, Kia recall over 208,000 electric vehicles to fix problem that can cause loss of power DETROIT (AP) — Hyundai and Kia are recalling over 208,000 electric vehicles to fix a pesky problem that can cause loss of drive power, increasing the risk of a crash. The recalls cover more than 145,000 Hyundai and Genesis vehicles including the 2022 through 2024 Ioniq 5, the 2023 through 2025 Ioniq 6, GV60 and GV70, and the 2023 and 2024 G80. Also included are nearly 63,000 Kia EV 6 vehicles from 2022 through 2024. The affiliated Korean automakers say in government documents that a transistor in a charging control unit can be damaged and stop charging the 12-volt battery. Dealers will inspect and replace the control unit and a fuse if needed. They also will update software. Christmas TV movies are in their Taylor Swift era, with two Swift-inspired films airing this year Two of the new holiday movies coming to TV this season have a Taylor Swift connection that her fans would have no problem decoding. “Christmas in the Spotlight” debuts Saturday on Lifetime. It stars Jessica Lord as the world’s biggest pop star and Laith Wallschleger, playing a pro football player, who meet and fall in love, not unlike Swift and her boyfriend, Kansas City Chiefs tight end Travis Kelce. On Nov. 30, Hallmark will air “Holiday Touchdown: A Chiefs Love Story.” Instead of a nod to Swift, it’s an ode to family traditions and bonding, like rooting for a sports team. Hallmark’s headquarters is also in Kansas City. Top football recruit Bryce Underwood changes commitment to Michigan instead of LSU, AP source says ANN ARBOR, Mich. (AP) — Top football recruit Bryce Underwood has flipped to Michigan after pledging to play at LSU. That's according to a person familiar with the situation who spoke to The Associated Press on condition of anonymity because they were not authorized to share the recruit’s plans to join the Wolverines. Underwood pinned a post on his Instagram account, showing a post in which On3.com reported that he has committed to Michigan. The 6-foot-3 quarterback played at Belleville High School about 15 miles east of Michigan's campus, and told LSU nearly a year ago he intended to enroll there. Emperor penguin released at sea 20 days after waddling onto Australian beach MELBOURNE, Australia (AP) — The only emperor penguin known to have swum from Antarctica to Australia has been released at sea 20 days after he waddled ashore on a popular tourist beach. The adult male was found on Nov. 1 on sand dunes in temperate southwest Australia about 2,200 miles north of the Antarctic coast. He was released Wednesday from a boat that traveled several hours from Western Australia state's most southerly city of Albany. His caregiver Carol Biddulph wasn't sure at first if the penguin would live. She said a mirror was important to his rehabilitation because they provide a sense of company. Biddulph said: “They’re social birds and he stands next to the mirror most of the time.”
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