The Pakistan Stock Exchange’s (PSX) benchmark index lost more than 6,000 points during intraday trade on Tuesday as equities experienced a massive meltdown amid renewed fighting between the United States and Iran. The KSE-100 index opened in the red and had lost 3,464.89 points at 10am, dropping to 176,462.15 points from the previous close of 179,927.04. After minor fluctuations, the index had lost 6,088.03 points (3.38 per cent) by 3pm, dropping to 173,839.01 points. The decline came as global oil prices rose to their highest in four weeks on Tuesday, as the US reimposed its naval blockade of Iran while the two countries stepped up attacks in the Strait of Hormuz, heightening uncertainty about energy flows. Brent crude futures were up $2.74, or 3.29pc, at $86.04 per barrel at 12:51pm PKT, while US West Texas Intermediate crude rose $2.21, or 2.83pc, to $80.35 a barrel. Oil prices are now at their highest since the two countries signed a memorandum of understanding to end the war on June 18. Awais Ashraf, dir...
Teacher Raja Dey fears attendance might drop now that government-run schools have stopped serving eggs for lunch in his eastern Indian state, a dietary change that has stirred a political storm. The humble egg, a popular food in West Bengal, was taken off the menu after the state’s recently elected Hindu nationalist government said a religious charity will provide free, vegetarian cooked meals in state-run schools. The new arrangement has rekindled a long-running debate over food, faith and nutrition in the world’s most populous country, with critics accusing the government of trying to turn schoolchildren vegetarian. Prime Minister Narendra Modi’s party, which swept to power in West Bengal for the first time in regional elections held in May, often promotes vegetarianism as a part of its nationalist agenda, although most Indian Hindus eat meat and fish. Eggs, which Hindus generally consider non-vegetarian, are even more widely consumed. Former West Bengal chief minister Mamata Banerjee, whose regional Trinam...