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☆ Gold set for second weekly fall; U.S. payrolls on investors' radar
▼ + stars: | 2024-05-03 | by ( ) www.cnbc.com time to read: +2 min

An employee handles one kilogram gold bullions at the YLG Bullion International Co. headquarters in Bangkok, Thailand, on Friday, Dec. 22, 2023. Gold prices were poised for a second straight weekly decline, although bullion held steady on Friday as investors remained cautious ahead of the U.S. non-farm payrolls data that could provide cues on the Federal Reserve's rate cut timeline. Spot gold held its ground at $2,306.84 per ounce by 0457 GMT but lost more than 1% this week. Softer U.S. payrolls print could provide support for gold but a better report may weigh on prices, Wong added. The non-farm payrolls report is due at 1230 GMT.

Persons: Christopher Wong, Wong, Wang Tao, Fawad Organizations: Co, U.S ., Fed, City Index Locations: Bangkok, Thailand, Egypt, Israel

☆ Ahead of Election, Pakistan Seals Plan to Sell National Airline
▼ + stars: | 2024-02-01 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +8 min

"Our job is 98% done," Privatisation Minister Fawad Hasan Fawad told Reuters when asked about the plan to sell the airline. Details of the privatisation process have not been previously reported. PIA had liabilities of 785 billion Pakistani rupees ($2.81 billion) and accumulated losses of 713 billion rupees as of June last year. Its CEO has said losses in 2023 were likely to be 112 billion rupees. PIA spokesman Abdullah Hafeez Khan said the airline was assisting the privatisation process, extending "full cooperation" to the transaction adviser.

Persons: Asif Shahzad, Fawad Hasan Fawad, Fawad, Ernst & Young, Shamshad Akhtar, Abdullah Hafeez Khan, Nawaz, Nawaz Sharif, Imran Khan, Sharif's, Ishaq Dar, EASA, Brendan Sobie, Gibran Peshimam, Raju Gopalakrishnan Organizations: Pakistan International Airlines, International Monetary Fund, PIA, IMF, Reuters, Caretaker, Ernst &, Ernst, FAST, Pakistan Muslim League, European Union Aviation Safety Agency, Heathrow, Manchester, Birmingham, Kuwaiti Locations: Asif Shahzad ISLAMABAD, Pakistan, Czech, Hungarian, Karachi, Europe, Kuala Lumpur, Toronto, Singapore, East, North America, Paris, New York

Spot gold dipped 1.1% to $1,936.09 per ounce by 2:38 p.m. ET (1938 GMT) and was down 2.8% in its worst week in six. Benchmark 10-year U.S. Treasury yield and the dollar index (.DXY) headed for weekly gains, making non-yielding gold less attractive for investors. Platinum shed 2% to $842.34, on track for its worst week since mid-2021. Reporting by Ashitha Shivaprasad and Anushree Mukherjee in Bengaluru; Editing by Tasim Zahid and Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Jerome Powell, Powell, Fawad, Bullion, Jim Wyckoff, Ashitha Shivaprasad, Anushree Mukherjee, Tasim Zahid, Shilpi Majumdar Organizations: Federal, Index, Reuters Graphics U.S, Federal Reserve, Treasury, Kitco Metals, Thomson Locations: East, India, Bengaluru

SummaryCompanies Safe-haven buying pushes up goldFocus on Fed Chair Jerome Powell's speech on ThursdayOct 18 (Reuters) - Gold rose to a more than two-month peak on Wednesday as the escalating conflict in the Middle East sent investors flocking towards the safe-haven metal. Spot gold increased 1% to $1,950.67 per ounce by 2:48 p.m. "Gold could breach $2,000 in the near-term if there is an escalation of geopolitical conflict. "Gold will pull back if the Middle East situation simmers down, but right now the market place is expecting a further escalation," said Jim Wyckoff, senior analyst at Kitco Metals. Spot silver rose 0.2% to $22.87, platinum fell 1.4% to $884.89 and palladium fell 1% to $1,132.61.

Persons: Jerome Powell's, Ryan McIntyre, Jim Wyckoff, Fawad, Ole Hansen, Ashitha, Daksh Grover, Sharon Singleton, Shilpi Majumdar, Shailesh Organizations: East, Sprott Asset Management, Graphics, Kitco Metals, City, Reuters Graphics Reuters, Federal, Saxo Bank, Thomson Locations: Gaza City, Bengaluru

The chief minister said the gang lured patients from hospitals and performed the operations privately in the region of Taxila, the city of Lahore and in Pakistan-administered Kashmir. Three deaths have so far been confirmed, according to the chief minister, but authorities were still confirming the data. Fawad had previously been arrested five times but was released on each occasion and was able to resume his operations, Naqvi said. Later, when he went to another doctor for further treatment, he was told he didn’t have a kidney, according to the chief minister. But the practice has continued and local media have reported that illegal kidney transplants have made a comeback in recent years.

Persons: Fawad, ”, Mohsin Naqvi, Naqvi, ” Naqvi, didn’t Organizations: Pakistan CNN — Police, Police Locations: Islamabad, Pakistan, Pakistan’s Punjab, Fawad, Taxila, Lahore, Kashmir, “, Punjab

More than 60 people, mostly Afghans, were saved by French and British rescue teams, including Idris and 15-year-old Fawad. "When (the boat sank), people were screaming, it was a very difficult moment. The survivors helped each other by taking turns in clinging to or sitting on what was left of the boat, Idris said. The Channel between France and Britain is one of the world's busiest shipping lanes and currents are strong, making the crossing on small boats dangerous. "I was fast losing the strength to swim, but I kept trying very hard to keep afloat," Idris said.

Persons: Idris, Pascal Rossignol, Fawad, Rishi Sunak, Sheree Sardar, Ingrid Melander, Janet Lawrence Organizations: REUTERS, Reuters, United Kingdom . Conservative British, Thomson Locations: Britain, Calais, France, CALAIS, England, British, Afghanistan, London, Iran, Syria, United Kingdom

☆ Gold falls for the week on stronger dollar
▼ + stars: | 2023-05-12 | by ( ) www.cnbc.com time to read: +2 min

Gold prices fell to a one-week low on Friday, and was lower for the week, weighed down by a stronger dollar and an uptick in U.S. bond yields. Spot gold was last 0.24% lower at $2,010.84 per ounce, after falling as much as 0.7% earlier in the session. U.S. gold futures fell 0.2% to $2,016.40. Spot silver fell 1.02% to $23.9257 per ounce, down about 7% for its worst week in seven months. Fawad Razaqzada, market analyst at City Index, attributed the drop to the dollar rebound and concerns over China's economic recovery.

☆ Pakistan arrests ex-PM Khan's party leaders as protests continue
▼ + stars: | 2023-05-11 | by ( ) www.reuters.com time to read: +2 min

[1/2] Pakistan's Former Foreign Minister Shah Mahmood Qureshi speaks with the media after the proceedings at the Supreme Court in Islamabad, Pakistan April 4, 2022. REUTERS/Akhtar SoomroISLAMABAD, May 11 (Reuters) - Pakistani authorities arrested a senior leader of former Prime Minister Imran Khan's party on Thursday as the government deployed the army to help end deadly unrest sparked by Khan's arrest three days ago. Shah Mahmood Qureshi, who served as foreign minister in Imran Khan's cabinet during his four year premiership, was arrested overnight, a statement on his Twitter profile said. Two other senior leader of Khan's Pakistan Tehreek-e-Insaf (PTI) party, Asad Umar and Fawad Chaudhry, were also arrested on Wednesday. Police have arrested more than 1,300 protesters in Khan's home province of Punjab for violence.

☆ Imran Khan, Former Pakistan Prime Minister, arrested
▼ + stars: | 2023-05-09 | by ( Sophia Saifi | ) edition.cnn.com time to read: +2 min

Islamabad, Pakistan CNN —Former Pakistan Prime Minister Imran Khan has been arrested by paramilitary troops in Islamabad on charges brought by the country’s anti-corruption agency, according to court documents seen CNN. In the video, paramilitary forces attacked Islamabad High Court premises before arresting Khan. A video sent to CNN by PTI showed paramilitary troops piling out of cars and holding batons before the arrest. “[The government], they’re petrified that if I come into power, I will hold them accountable,” Khan told CNN during the unrest outside his residence in March . “They also know that even if I go to jail, we will swing the elections no matter what they do.”

☆ Factbox: What is the corruption case against Pakistan's Khan?
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +2 min

ISLAMABAD, May 9 (Reuters) - Pakistan's former Prime Minister Imran Khan was arrested on Tuesday on corruption charges. Al-Qadir Trust is a non-governmental welfare organization set up by Bushra Watto, Khan's third wife, and Khan in 2018 when he was still in office. While prime minister, Khan promoted the trust at official events. Khan has publicly described her as his spiritual leader and said she helped guide him towards a spiritual path. The interior minister alleged Hussain gave the land to Khan through the Al-Qadir Trust in exchange for that favour.

☆ Dow leaps 546 points as US stocks surge after Apple earnings and hot April jobs report
▼ + stars: | 2023-05-05 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

US stocks jumped on Friday as tech behemoth Apple and regional bank stocks climbed. The S&P 500 finished higher after four consecutive losses, and the Dow Jones Industrial Average piled on more than 500 points. Here's where US indexes stood at the 4:00 p.m. closing bell on Friday:Equities also found strength from a jump in regional bank shares, including PacWest and Western Alliance after sharp selloffs during the week. Yields ran up as the bond market sold off following the stronger-than-expected US jobs report for April. "The April jobs report is indisputably hawkish and puts the focus back on the Fed – especially if inflation data also beat next week.

TOKYO, April 19 (Reuters) - The dollar strengthened on Wednesday, lifted by rising Treasury yields, though the pound gained against the greenback after British inflation stayed above 10% in March and put more pressure on the Bank of England to keep raising rates. "We still think that over the medium- to long-term that the dollar is going to continue to come under considerable amounts of pressure. Wednesday data showed British consumer price inflation eased less than expected in March to 10.1% from February's 10.4%, meaning Britain has western Europe's highest rate of consumer inflation. Deutsche Bank on Wednesday revised up expectations for British rates to include two more 25 basis point rate hikes from the Bank of England. Currency bid prices at 2:42PM (1842 GMT)Reporting by Kevin Buckland; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

☆ Oil rises 2% on lower-than-expected US inflation data
▼ + stars: | 2023-04-12 | by ( Arathy Somasekhar | ) www.reuters.com time to read: +4 min

Prices rose about 2% on Tuesday. The CPI rose 6% year-on-year in February. Markets shrugged off a small build in U.S. crude oil stocks, attributing it in part to a congressionally mandated release of oil from the U.S. emergency reserve and lower exports at the start of the month. Meanwhile, the global oil market could see tightness in the second half of 2023, which would push oil prices higher, said Fatih Birol, executive director of the International Energy Agency. In a negative for oil demand, the International Monetary Fund on Tuesday trimmed its 2023 global growth outlook, citing the impact of higher interest rates.

☆ US stocks end mixed as energy sector rides surge in oil prices while tech stocks fall
▼ + stars: | 2023-04-03 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

The energy sector jumped alongside crude oil prices. Brent and WTI oil soared after OPEC+ announced production cuts will start in May. Tech stocks were weighed by the renewed prospect of higher interest rates. The S&P 500's energy sector was thrust in the spotlight, logging its best day in six months as Brent and WTI oil prices surged. Tech stocks fell on the prospect that more rate hikes may be in the Fed's pipeline.

☆ Key US bond yields drop to their lowest in 6 months as global banking worries boost bets the Fed is heading toward a rate cut
▼ + stars: | 2023-03-24 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

Odds of a pause in rate hikes in May soared to 90% and investors are pricing in potential for a June rate cut. The 2-year yield dropped to 3.59% and sharp moves of 20 basis points have "become the norm," said one investment firm. The 2-year Treasury yield, which is highly sensitive to views on US monetary policy, sank 22 basis points to 3.598%, hitting levels not seen since mid-September. Bets that the Fed will pause rate hikes then turn to cutting rates this summer jumped Friday. It opted to raise rates by 25 basis points to signal its commitment to lowering inflation to its 2% target.

[1/2] A supporter of former Pakistani Prime Minister Imran Khan, walks with a riot shield used by the police, during a clash outside the federal judicial complex in Islamabad, Pakistan March 18, 2023. "Around 285 PTI supporters have been arrested in Lahore and Islamabad. Khan, a former cricket star, was prime minister from 2018 until 2022, when he was ousted from office in a parliamentary vote. His successor as prime minister, Shehbaz Sharif, has rejected his demand and said an election would be held as scheduled later this year. Clashes between Khan's supporters and the security forces have brought a new round of political chaos to Pakistan, which is in the midst of a crippling economic crisis.

[1/6] Supporters of former Pakistani Prime Minister Imran Khan carry bamboo sticks and slingshots, as they gather and chant slogans, at the entrance of Khan's house, in Lahore, Pakistan March 17, 2023. Even though there was no police presence on Friday, witnesses said Khan's supporters, armed with batons and iron rods, remained stationed outside his home. The Election Commission of Pakistan had found him guilty and barred Khan from holding public office for one parliamentary term. Khan has said he was willing to submit a written undertaking that he would voluntarily appear before the court on Saturday, but the court said such an undertaking was insufficient. Current Prime Minister Shehbaz Sharif has rejected Khan's demands, saying an election would be held as scheduled later this year.

☆ Pakistan court postpones police operation to arrest Imran Khan
▼ + stars: | 2023-03-16 | by ( Mubasher Bukhari | ) www.reuters.com time to read: +2 min

[1/5] Supporters of former Pakistani Prime Minister Imran Khan, carry sticks as they walk towards Khan's house, in Lahore, Pakistan March 16, 2023. REUTERS/Akhtar SoomroLAHORE, Pakistan, March 16 (Reuters) - A Pakistani high court ordered police on Thursday to postpone an operation to arrest Imran Khan for another day, defusing a surge in violence that saw supporters of the former prime minister fighting pitch battles with security forces. Khan's aide Fawad Chaudhry said the Lahore high court had extended an order to halt the police operation until Friday. The state information minister, Amir Mir, confirmed the court order. Current Prime Minister Shehbaz Sharif has rejected Khan's demands, saying the election would be held as scheduled later this year.

☆ Imran Khan says to attend court hearing in bid to end Pakistan clashes
▼ + stars: | 2023-03-15 | by ( Mubasher Bukhari | ) www.reuters.com time to read: +3 min

[1/3] Former Pakistan's Prime Minister Imran Khan addresses a news conference after he was wounded following a shooting incident during a long march in Wazirabad, at the Shaukat Khanum Memorial Cancer Hospital & Research Centre in Lahore, Pakistan November 4, 2022. "We have asked the police to wait until the court decision on the matter," added Chaudhry, a former information minister. Current Prime Minister Shehbaz Sharif has rejected Khan's demands, saying the election would be held as scheduled later this year. "If anything happens to me, or I go to prison, or they kill me, you have to prove that this nation will continue to struggle even without Imran Khan," he said. "Instead of cooperating with law enforcement officials, Imran Khan is breaking the law, defying court orders and using his party workers... as human shields to evade arrest and stoke unrest," she added.

☆ Pakistani police serve arrest warrants to former PM Imran Khan
▼ + stars: | 2023-03-05 | by ( Mubasher Bukhari | ) www.reuters.com time to read: +2 min

LAHORE, Pakistan, March 5 (Reuters) - Pakistani police on Sunday served arrest warrants to former prime minister Imran Khan to ensure his appearance in court on charges of misusing his office to sell state gifts, authorities said, after Khan's supporters tried to prevent police entry into his home. The Federal Investigation Agency then filed charges against him in an anti-graft court, which last week issued the arrest warrants after Khan failed to appear in court despite repeated summons. He led countrywide protest campaigns to press for an early vote last year and was shot at and wounded at one of the rallies. Chaudhry said the government wanted to sow political chaos and avoid an early election by arresting the former premier, who was still popular among the country's youth and urban voters. Islamabad police said in a statement that when Khan wasn't found at his residence in Lahore, they served the arrest warrants.

☆ Reactions to Pakistan ex-President Musharraf's death
▼ + stars: | 2023-02-05 | by ( ) www.reuters.com time to read: +1 min

Feb 5 (Reuters) - Pakistani former President Pervez Musharraf died on Sunday following a prolonged illness at a hospital in Dubai, after years in self-imposed exile. SHASHI THAROOR, INDIAN POLITICIAN, SAID ON TWITTER"Once an implacable foe of India, he became a real force for peace 2002-2007. I met him annually in those days at the UN & found him smart, engaging & clear in his strategic thinking. RIP"MOSHARRAF ZAIDI, CEO OF TABADLAD, AN ISLAMABAD-BASED THINK TANK"The most important legacy Gen. Musharraf leaves behind predates his time as president. The 1999 Kargil War permanently altered ...

☆ The dollar jumps to a 4-week high as traders place bets on more Fed rate hikes after strong private payrolls report
▼ + stars: | 2023-01-05 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

A closely watched measure of the US dollar pushed to its highest in about a month on Thursday after a strong ADP jobs report. The US Dollar Index climbed past 105 for the first time since early December as the Fed is likely to stick to hiking interest rates. "Accordingly, traders have pushed up their expectations for the terminal interest rates in the US," with June fed funds futures contract implying a peak interest rate of above 5%. Such a move would put the fed funds rate at a range of 5.25% to 5.5%. The Fed views inflation as still "unacceptably high," the minutes showed.

☆ The 'Powell pump' pushing the recent rally in the S&P 500 is over, and stocks may have further to fall as Fed moves and a looming recession keep investors away
▼ + stars: | 2022-12-06 | by ( Carla Mozée | ) www.businessinsider.com time to read: +4 min

The "Powell pump has been erased," and the S&P 500 has lost gains made over the week after Fed Chair Jerome Powell spoke, a City Index analyst said. It "remains to be seen ... whether the bulls will step in once again at these levels," wrote analyst Fawad Razaqzada. "So, the Powell pump has been erased," Fawad Razaqzada, market analyst at City Index, wrote in a Tuesday note about the index's technical levels. Stock market bears so far this week have "successfully defended" the key 4,077 resistance level, he said. The fed funds rate is at a range of 3.75% to 4% after six rate increases in 2022.

☆ Pakistan army chief takes on ousted PM Khan over alleged US conspiracy
▼ + stars: | 2022-11-23 | by ( Asif Shahzad | ) www.reuters.com time to read: +2 min

ISLAMABAD, Nov 23 (Reuters) - Pakistan's outgoing army chief rejected on Wednesday as "fake and false" claims by ousted prime minister Imran Khan that a U.S.-backed conspiracy had toppled his government, and also said the military would play no role in national politics in future. The former premier has also alleged that the military played a role in his ousting, a charge the army has denied. "A state of hysteria was created in the country on the pretext of a fake and false narrative," the army chief said about Khan's main accusation that Washington supported his removal with the help of a local handler. Over the weekend, Khan said that even if the military had not been involved it could still have saved his government. Khan's party spokesman Fawad Chaudhry told Reuters he had no comment on the army chief's remarks.

Police said the suspected shooter was arrested after Khan supporter Ibtesam Hasan overpowered him and threw off his aim, possibly saving the ex-premier from more serious gunshot wounds. Khan has accused three people of devising a plan to assassinate him, naming Prime Minister Shehbaz Sharif, Interior Minister Rana Sanaullah and intelligence official Major-General Faisal Nasser. Khan launched what is known as a long-march protest rally from Lahore to the capital on Oct. 28. He was waving to the crowd from a container mounted on a truck in Wazirabad when a man fired several shots at him. Reporting by Asif Shahzad in Islamabad and Mubasher Bukhari in Lahore, Pakistan; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.

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