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PSX closes week lower, 100-Index loses over 6,000 points

PSX closes week

KARACHI: The Pakistan Stock Exchange (PSX) witnessed a significant bearish trend during the outgoing week, as heavy selling pressure dragged the benchmark index sharply lower.

During the week, the KSE-100 Index plunged by 6,434 points, closing at 173,169 points, down from the previous week’s closing level of 179,603 points. The market lost six key psychological levels over the course of the week.

Out of the five trading sessions, the market remained negative on three days, while only two sessions ended in positive territory.

The benchmark index touched a weekly high of 179,969 points, while the lowest level recorded during the week stood at 169,592 points.

Over the five trading days, overall market capitalization declined by Rs756 billion, settling at Rs19,602 billion by the end of the week.

Trading activity remained robust, with approximately 3.26 billion shares changing hands, generating a total turnover of Rs187 billion.

Market experts attributed the downturn to escalating tensions between the United States and Iran, along with widespread selling pressure in key sectors, which weighed heavily on investor sentiment.

Massacre in Nigerian village claims 50 lives in Zamfara state

Massacre in Nigerian

Nigeria: At least 50 people were killed in an armed attack on a village in Zamfara, authorities and eyewitnesses reported.

According to local sources, the attack began around 5:00 PM and continued until approximately 3:30 AM, during which the assailants set homes on fire and opened fire on villagers attempting to flee.

News agencies reported that multiple women and children were abducted during the assault. Survivors were later transported to the nearby city of Maiduguri, where eyewitnesses confirmed that several women and children were held hostage by the attackers.

A local member of the state assembly warned that the death toll could rise, while the exact number of abducted individuals remains unclear. Authorities have launched investigations, and security forces are reportedly pursuing the attackers.

Pakistan vs New Zealand Super 8 clash abandoned due to rain

Pakistan vs New

Colombo: The ICC Men’s T20 World Cup Super 8 clash between Pakistan and New Zealand was called off due to persistent rain, officials confirmed.

Pakistan captain Salman Ali Agha won the toss and opted to bat. However, heavy rainfall prevented even a single ball from being bowled, and the umpires later officially abandoned the match.

As per tournament rules, both teams were awarded one point each due to the no-result.

For the match against New Zealand, Fakhar Zaman was included in the playing XI in place of Khwaaja Nafees.

Pakistan’s next Super 8 encounter is scheduled against England on February 24, 2026.

Ex-Indian cricketer Shikhar Dhawan marries Sophie Shine in private ceremony

Ex-Indian cricketer

India: Former Indian cricketer Shikhar Dhawan has tied the knot with his girlfriend Sophie Shine, marking his second marriage.

The news was shared on Instagram by Indian spinner Yuzvendra Chahal, who posted pictures from the wedding ceremony.

According to Indian media reports, Dhawan and Shine held a private ceremony in Delhi NCR on Saturday, attended only by close family and friends. Fans quickly sent congratulatory messages after the news surfaced.

View this post on Instagram

A post shared by Yuzvendra Chahal (@yuzi_chahal23)

Shikhar Dhawan had officially announced his engagement to Sophie Shine in January 2026.

LinkedIn profiles indicate that Sophie Shine is originally from Ireland and currently serves as Second Vice President and Product Consultant at the U.S.-based Northern Trust Corporation.

Shikhar Dhawan’s first marriage to Ayesha Mukherjee ended in October 2023, concluding their 11-year marriage.

Trump raises global tariffs to 15% despite Supreme Court ruling

Trump raises global

Washington: U.S. President Donald Trump announced an increase in global tariffs from 10% to 15% following a recent Supreme Court verdict.

In a statement, Trump said he is raising the global tariffs previously imposed on several countries, citing decades of exploitation of the United States by these nations. He added that his administration will legally determine new tariffs in the coming months.

Earlier, the U.S. Supreme Court had ruled that the additional tariffs imposed on other countries were illegal, noting that the law under which they were applied was intended for national emergencies and does not authorize the president to impose extra tariffs.

Responding to the court’s decision, Trump asserted that he retains the authority to act as he sees fit, warning that the temporary satisfaction of other countries would not last.

Following the ruling, Trump had initially imposed a 10% tariff on all countries immediately, before later announcing the hike to 15%.

Guardian fined AED 50,000 after child spotted riding bike in Dubai

Guardian fined

Dubai: The Dubai Police have fined a child’s guardian AED 50,000 after a minor was found riding a recreational electric motorbike on a public street, officials confirmed.

Traffic patrol officers stopped the child, who was accompanied by another minor, to prevent risks to them and other road users. The bike was impounded.

The guardian was summoned and must pay the 50,000-dirham fee to recover the vehicle, in accordance with Dubai traffic regulations, which permit authorities to seize vehicles involved in dangerous behavior.

Legal action was also taken under the UAE Child Protection Law, which criminalizes putting children in danger or neglecting their safety.

Dubai Police warned parents against allowing underage children to ride or drive vehicles on public roads, emphasizing that children are not physically or mentally equipped to handle traffic.

Officials stressed that strict enforcement will continue against anyone endangering children or public safety.

Striker Neymar hints at possible retirement by year-end

Striker Neymar

Brazil: Superstar striker Neymar, who recently extended his contract with his childhood club Santos FC, has suggested he may retire by the end of 2026.

The 34-year-old forward returned to Santos in January 2025 and played a pivotal role in helping the club avoid relegation in the Brazilian top flight, scoring five goals in their last five matches.

However, Neymar, who has struggled with injuries in recent seasons, remains uncertain about participating in the FIFA World Cup 2026. “I don’t know what will happen from now on, I don’t know about next year. It may be that when December comes, I’ll want to retire. I’m living year to year now,” he told Brazilian online channel Caze on Friday.

“This year is a very important year, not only for Santos, but also for the Brazilian national team, as it’s a World Cup year, and for me too,” Neymar added.

Having recently undergone successful knee surgery, Neymar holds the record for Brazil with 79 international goals, but he has not played for the national team since October 2023.

Brazil manager Carlo Ancelotti has emphasized that only fully fit players will be considered for the World Cup, which is scheduled to take place from June 11 to July 19, 2026, across Canada, Mexico, and the United States.

Wedding bells ringing in my parents’ minds, says Mrunal Thakur

Wedding bells

MUMBAI: Indian actress Mrunal Thakur has revealed that her parents frequently discuss her marriage, joking that wedding bells are constantly ringing in their minds.

The actress has been busy promoting her latest film Do Deewane Shehar Mein, in which she stars alongside Siddhant Chaturvedi. The film has now been released in cinemas.

‘Settle Down’ Talks at Home

Speaking to Shosha India, Mrunal shared that conversations about marriage and settling down have become increasingly common in her household.

“My parents always have wedding bells ringing in their minds,” she said, adding that while her family sees it as the next step, for her it still feels like a dream.

She revealed that just the previous night, her father advised her that it was time to settle down in life.

A Light-Hearted Exchange

Mrunal said she jokingly suggested that her father should take the initiative and look for a suitable match himself.

“I told him, why don’t you call your sister and ask if she knows a good boy?” the actress shared with a laugh.

According to Mrunal, her father responded by asking, “But where is the boy?” to which she replied, “That’s exactly what I’m saying.”

Previous Rumours Addressed

Earlier, the actress had dismissed rumours linking her to South Indian star Dhanush, particularly speculation that the two were planning to marry on Valentine’s Day. Mrunal categorically denied the claims, calling them baseless.

Stocks surge as Supreme Court blocks key Trump-era tariffs

Stocks surge

Washington: Global financial markets surged after the Supreme Court of the United States delivered a 6–3 ruling striking down most of President Donald Trump’s signature tariffs.

Following the decision, the S&P 500 climbed 0.6%, while the Nasdaq advanced 1%. The rally extended beyond the United States, with European shares, as well as markets in South Korea and India, posting notable gains.

Companies With Heavy Tariff Exposure Lead Gains

The strongest market reaction was seen among companies heavily exposed to tariffs, particularly those reliant on imports from China.

E-commerce giant Amazon rose 2%, reflecting investor optimism as nearly 70% of its goods are sourced from China. Footwear brands Deckers Outdoor, Birkenstock, and Crocs each gained more than 2%.

Furniture retailers also recorded strong performance, with Wayfair and Floor & Decor surging approximately 4%.

Uncertainty Over Tariff Refunds

Despite the positive market response, uncertainty remains regarding the potential repayment of billions of dollars in tariffs already collected.

Justice Brett Kavanaugh noted that the ruling “says nothing about whether, and how, if so, the Government should go about returning the billions of dollars that it has collected.”

Concerns have emerged that possible refunds could widen the federal deficit. Reflecting these worries, U.S. Treasury yields edged higher, with the 10-year yield rising 2 basis points to 4.096%. Meanwhile, the U.S. dollar weakened slightly.

Decision Comes Amid Soft Economic Data

The court’s ruling comes at a time of underwhelming economic performance. Fourth-quarter GDP expanded at an annualized rate of 1.4%, falling short of expectations, partly due to the impact of a government shutdown.

Core inflation remained elevated at 3%, still above the Federal Reserve’s 2% target, underscoring continued economic challenges despite the market’s upbeat reaction to the court’s decision.

Actress Alizeh Shah announces forgiveness in Ramadan message

Actress Alizeh Shah

KARACHI: Pakistani showbiz actress Alizeh Shah, who has frequently remained in the spotlight due to public controversies, has announced that she has forgiven everyone in a heartfelt message shared during the holy month of Ramadan.

Taking to Instagram, the actress shared a reflective note declaring that she has chosen to forgive all those who hurt her, embracing a new spiritual path during the blessed month. Shah, who enjoys over 4.3 million followers on the platform, expressed her desire for inner peace and personal growth.

A Year of Emotional Struggles

In her Instagram note, Alizeh Shah revealed that the past year had been the most difficult period of her life. She admitted feeling distant from Allah and spiritually lost, describing her faith at times as being “darker than darkness.” However, she shared that Ramadan has inspired her to take a different path this year.

“I choose to return. I choose to soften my heart. I choose to forgive everyone who hurt me — not because they deserve it, but because my soul deserves peace,” she wrote. She also sought forgiveness from Allah first, expressing hope that she would be forgiven just as she is learning to forgive others.

Past Controversies

The actress has previously been involved in public disputes with several figures from the entertainment industry, including Yasir Nawaz, Shazia Manzoor, and Minsa Malik, among others.

Reflecting on her personal journey, Shah acknowledged going through a dark phase in life, crediting the hope instilled in her heart by Allah and the patience of her parents for helping her endure difficult times.

She further noted that pride can often prevent individuals from admitting their mistakes, turning them into the “villains of their own story.” Urging her followers to prioritize repentance over regret, she advised, “Return while there is still awareness in your heart. Forgive while you still can.”

Positive Public Response

A large number of social media users praised her decision, describing forgiveness as a powerful step toward mental peace and spiritual healing. Many commended her honesty and courage in publicly acknowledging her struggles and choosing a path of reconciliation during Ramadan.