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Shadab Khan Vows Stronger Comeback After Islamabad United’s PSL Exit

Khashif Sarfraz
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Shadab Khan Vows Stronger Comeback After Islamabad United’s PSL Exit

After a hard-fought season, Islamabad United bowed out of the HBL Pakistan Super League (PSL) following a defeat to Lahore Qalandars at Gaddafi Stadium. Captain Shadab Khan has pledged to return with renewed strength and focus in the next season.

The Qalandars set a commanding total, powered by explosive innings from Mohammad Naeem and Kusal Perera, whose partnership laid the groundwork for their team’s win.

In reply, Islamabad United’s batting lineup failed to build momentum. While Salman Ali Agha and Shadab himself offered resistance with a brief counterattack, the rest of the team couldn’t match the required pace, ending their campaign prematurely.

Shadab’s Post-Match Reflections

Speaking after the loss, Shadab openly addressed the team’s shortcomings:

  • Missed chances to take crucial wickets

  • Inability to control the powerplay

  • Death bowling that lacked execution

One notable strategic move was the decision to promote youngster Muhammad Shahzad to open in the absence of Alex Hales, who had previously delivered match-winning performances. While Shahzad had prior experience as an opener, the gamble didn’t yield results this time.

Despite the early exit, Shadab highlighted some positives—especially the form of Sahibzada Farhan, who was consistently impressive throughout the tournament. “His performances were a real bright spot for us,” Shadab noted.

Looking ahead, Shadab was resolute in his message:

“We have to reflect on our mistakes, learn from them, and come back stronger next season.”

With this attitude, Islamabad United aims to recalibrate and reclaim its position as a PSL powerhouse in future editions.

Joe Root Becomes First Englishman to Reach 13,000 Test Runs

Khashif Sarfraz
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Joe Root Becomes First Englishman to Reach 13,000 Test Runs

In a monumental moment for English cricket, Joe Root etched his name into the record books by becoming the first England batter to reach 13,000 Test runs, achieving the feat during the ongoing four-day Test against Zimbabwe at Edgbaston.

Root joins an exclusive club of cricketing legends, becoming just the fifth player in history to cross the 13,000-run threshold in Test cricket—alongside Sachin Tendulkar, Ricky Ponting, Jacques Kallis, and Rahul Dravid.

Starting the match on 12,972 runs, Root needed just 28 runs to reach the milestone, which he did with characteristic calm and elegance. His ability to adapt, lead, and anchor innings has defined his career, making him a cornerstone of England’s Test setup.

Fastest Englishman & Among the Quickest Ever:

  • Matches to 13,000 runs: 153 (Fastest in history)

  • Innings to 13,000 runs: 279 (5th fastest overall)

While Tendulkar remains the quickest in terms of innings (266), Root’s achievement underscores his consistency and durability at the highest level.

This feat is not just a personal milestone but a historic first for England cricket, which had never seen a player reach this level of sustained Test excellence.

What’s Next for Root?

With 36 centuries and a proven track record of converting starts, Root now eyes Tendulkar’s all-time tally of:

  • 15,921 Test runs

  • 51 Test centuries

  • 68 fifties

With at least eight more Tests scheduled for England in 2025, the stage is set for Root to edge closer to the summit of Test batting greatness. Given his fitness and form, more records could soon tumble.

Root’s landmark not only places him among cricket’s elite but also solidifies his legacy as one of the game’s most reliable and respected modern Test batters.

Turkey Raises Reserve Requirements to Strengthen Financial Stability

Khashif Sarfraz
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Turkey Raises Reserve Requirements to Strengthen Financial Stability

In a strategic move to bolster macro-financial stability and enhance the monetary transmission mechanism, the Central Bank of Turkey announced on Saturday an increase in reserve requirement ratios for short-term lira-denominated funding sourced from abroad.

This policy adjustment comes amid efforts to restore confidence in the Turkish financial system and follows a notable $6 billion rise in the central bank’s gross reserves, reversing several weeks of decline.

Key Changes in Reserve Requirements:

  • For maturities up to 1 month: Raised from 12% to 18%

  • For maturities up to 3 months: Increased to 14%

These changes primarily affect lira-denominated funds obtained via foreign repo transactions, aiming to discourage short-term speculative inflows and stabilize the currency markets.

The move is in line with broader efforts by Turkish authorities to manage inflationary pressures, attract longer-term investments, and reduce vulnerabilities in the external financing structure.

This increase in reserve requirements is expected to tighten short-term liquidity, making short-term borrowing more costly, and potentially strengthening the Turkish lira.

Pakistan Eyes Rs16.9 Trillion Budget for FY2025-26 with Focus on Fiscal Discipline

Khashif Sarfraz
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Pakistan Eyes Rs16.9 Trillion Budget for FY2025-26 with Focus on Fiscal Discipline

The government of Pakistan is set to unveil a trimmed budget outlay of Rs16.9 trillion for fiscal year 2025-26 on June 10, marking a 10.6% reduction from the originally budgeted Rs18.9 trillion for FY2024-25, according to a report by Arif Habib Limited (AHL) titled “Pakistan Budget FY26 Preview – budget braces for balance.”

This reduction reflects a significant cut in markup payments on existing debt, expected to decrease from Rs9.8 trillion to Rs8.5 trillion, thanks to the halving of the State Bank of Pakistan’s policy rate from 22% to 11%.

“It would be a balanced and better budget compared to FY25,” said Sana Tawfik, Head of Research at AHL, highlighting the lowered cost of borrowing.

Key Highlights from the AHL Report:

  • Estimated Revenue Collection (FY26): Rs17.8 trillion

    • FBR Tax Revenue Target: Rs14.3 trillion

    • Non-Tax Revenue: Rs3.9 trillion

    • SBP Profit: Rs1.5 trillion

    • Petroleum Development Levy (PDL): Rs1.4 trillion

  • Estimated Fiscal Deficit: Rs6.2–6.5 trillion (5.1% of GDP)

  • Current Expenditure: Rs16.2 trillion

  • Federal Development Budget (PSDP): Rs1.1 trillion

Projected Economic Indicators:

  • GDP Growth: 3.6% (FY26) vs 2.68% (FY25)

  • Inflation: 6.29% (FY26) vs 4.63% (FY25)

  • Current Account Balance: Deficit of $1.5B (FY26) vs Surplus of $1.6B (FY25)

Proposed New Tax Measures Worth Rs869 Billion:

  • GST at 3% on petroleum products

  • Income tax on retailers and wholesalers

  • Withdrawal of exemptions/duties in FATA/PATA

  • No tax amnesties; budget aligned with IMF reforms

The FBR tax-to-GDP ratio is expected to rise to 11.3% in FY26, up from 10.3% last year, showing intent to expand the tax base and enhance collection efficiency.

According to AHL, the budget aims to promote fiscal discipline, support economic stabilisation, and provide targeted relief, without compromising its alignment with IMF obligations.

The outlook for the Pakistan Stock Exchange (PSX) and broader economy is neutral to positive, suggesting measured optimism.

Lahore Qalandars Bat First Against Islamabad United in PSL Second Eliminator

Khashif Sarfraz
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Lahore Qalandars Bat First Against Islamabad United in PSL Second Eliminator

In a high-stakes clash at the HBL Pakistan Super League (PSL), Lahore Qalandars won the toss and elected to bat against defending champions Islamabad United in the second Eliminator on Friday in Lahore. Both teams are aiming for their fourth PSL final appearance, with the winner set to face Quetta Gladiators in the final scheduled for Sunday.

The Qalandars made a single change to their playing XI, bringing in Rishad Hossain in place of Zaman Khan. Islamabad United, on the other hand, reshuffled their squad with three changes: Haider Ali, Tymal Mills, and Muhammad Shahzad replaced Ghazi Ghori, Alex Hales, and Ben Dwarshuis.

Islamabad United’s playing XI:
Shadab Khan (Captain), Sahibzada Farhan, Rassie van der Dussen, Haider Ali, Agha Salman, James Neesham, Imad Wasim, Tymal Mills, Naseem Shah, Muhammad Shahzad, Salman Irshad.

Lahore Qalandars’ playing XI:
Shaheen Afridi (Captain), Fakhar Zaman, Mohammad Naeem, Abdullah Shafique, Kusal Perera, Bhanuka Rajapaksa, Asif Ali, Shakib Al Hasan, Haris Rauf, Rishad Hossain, Salman Mirza.

Cricket fans eagerly await a thrilling encounter as both teams look to secure their place in the PSL final.

Volvo CEO Warns 50% EU Tariff Could Impact EX30 Electric Vehicle Sales in US

Khashif Sarfraz
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Volvo CEO Warns 50% EU Tariff Could Impact EX30 Electric Vehicle Sales in US

Volvo Cars CEO Håkan Samuelsson has warned that customers will bear a significant portion of the cost increases stemming from proposed tariffs on European goods. This follows US President Donald Trump’s announcement on Friday recommending a 50% tariff on imports from the European Union starting June 1, citing difficulties in trade negotiations with the EU.

Samuelsson emphasized that such a steep tariff would severely restrict Volvo’s ability to sell its affordable EX30 electric vehicle in the US market, potentially limiting consumer access to this popular EV.

The news negatively impacted Volvo’s stock, with shares falling 4.3% by 1237 GMT on the announcement day.

This development adds to growing concerns among European manufacturers about the potential fallout from escalating US-EU trade tensions, particularly in the automotive sector.

Pakistan to Present Federal Budget for FY 2025-26 on June 10, 2025

Khashif Sarfraz
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Pakistan to Present Federal Budget for FY 2025-26 on June 10, 2025

The Government of Pakistan will unveil its Federal Budget for the financial year 2025-26 on Tuesday, June 10, 2025, confirmed Khurram Schehzad, adviser to the finance minister. This budget announcement is highly anticipated as it will outline the country’s fiscal policies and economic priorities for the coming year.

Ahead of the budget, the Pakistan Economic Survey 2024-25 will be released on June 9, 2025, providing detailed insights into the country’s economic performance and key indicators for the previous fiscal year.

The Federal Budget and Economic Survey will together set the tone for Pakistan’s economic direction, addressing challenges such as inflation, growth, and investment to support sustainable development.

Stay tuned for detailed coverage and analysis once the budget is presented.

Sri Lankan Shares Close Flat Amid Mixed Sector Performance; Weekly Gains Continue

Khashif Sarfraz
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Sri Lankan Shares Close Flat Amid Mixed Sector Performance; Weekly Gains Continue

Sri Lankan shares ended flat on Friday as gains in health care stocks were balanced by losses in the consumer discretionary sector. The CSE All Share Index closed marginally higher by 0.13% at 16,494.46, extending its winning streak to seven consecutive weeks with a total weekly gain of 0.76%.

Notable performers included Lee Hedges and SMB Finance, which surged 19% and 16.7% respectively, leading the rally on the index.

Despite the positive close, trading volume fell significantly to 182.5 million shares from 277.3 million in the prior session. The market turnover also declined to 3.74 billion Sri Lankan rupees ($12.49 million) from 4.54 billion rupees, according to data from the Colombo Stock Exchange.

Foreign investors maintained a bullish stance, emerging as net buyers with purchases worth 353.3 million rupees, while domestic investors turned cautious, acting as net sellers with offloads totaling 3.55 billion rupees.

The market’s resilience follows a recent surprise interest rate cut by the central bank, which has helped fuel investor optimism amid challenging economic conditions.

European Stocks Sink as Trump Proposes 50% Tariff on EU Goods

Khashif Sarfraz
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European Stocks Sink as Trump Proposes 50% Tariff on EU Goods

European financial markets were rattled on Friday after U.S. President Donald Trump proposed a 50% tariff on European Union goods, effective June 1. The announcement triggered a widespread sell-off across equities and bonds, raising concerns about a renewed transatlantic trade war.

The Stoxx Europe 600 index fell by 2%, with heavy losses in auto and banking sectors, both dropping over 3%. The proposed tariffs are expected to hit export-heavy industries the hardest, especially Germany’s automotive giants and France’s financial institutions.

In bond markets, investor fears of slowing economic growth prompted a rally in safe-haven government debt.

  • Germany’s 2-year bond yield fell 10 basis points to 1.73%,

  • 10-year bund yields dropped 9 basis points to 2.55%,
    reflecting growing bets on further European Central Bank (ECB) monetary easing in the months ahead.

Meanwhile, the euro pared gains, last trading 0.4% higher at $1.1313, having given up a larger early-session advance.

Market analysts warn that if implemented, the tariffs could undermine the fragile economic recovery in the eurozone, disrupt trade flows, and increase pressure on the ECB to act preemptively with rate cuts or asset purchases.

With geopolitical tensions on the rise and policy uncertainty looming, investors may need to brace for heightened market volatility in the weeks ahead.

Copper Rises on Weaker Dollar and Trade Truce Hopes

Khashif Sarfraz
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Copper Rises on Weaker Dollar and Trade Truce Hopes

Copper prices edged higher on Friday as a weaker U.S. dollar and easing trade tensions between the U.S. and China boosted investor sentiment and global demand expectations.

Benchmark three-month copper on the London Metal Exchange (LME) climbed 0.8% to $9,573.50 per metric ton, extending its monthly gain to 5%. The rise follows a 90-day tariff truce between Washington and Beijing, offering a temporary pause in the trade war and rollback of tariffs imposed since April.

“We are in a situation where the U.S. continues to perform unexpectedly well, trade tensions are easing, and recent macro data in China was pretty good,” said Dan Smith, managing director at Commodity Market Analytics. “All of this is good for the risk appetite in base metals for now.”

Adding to the momentum, the U.S. dollar headed for its first weekly decline in five weeks, making dollar-priced metals more affordable for foreign buyers. Meanwhile, China’s onshore yuan reached its strongest level since November, enhancing the importing power of the world’s top metal consumer.

On the supply side, copper inventories fell across major exchanges:

  • Shanghai Futures Exchange: -9% to 98,671 tons

  • LME-registered warehouses: -8% to 164,725 tons

  • COMEX inventories: +3% to 174,607 tons

The cash-to-three-month spread on the LME showed a $16 per ton premium, suggesting near-term tightness in supply but remaining far below the $49 peak seen earlier in May.

Other metals also showed strength:

  • Aluminium: +0.5% to $2,467.50

  • Zinc & Nickel: +0.2% to $2,701.50 and $15,525 respectively

  • Lead & Tin: +0.9% to $1,987 and $32,650 respectively

These gains reflect broader market optimism supported by easing geopolitical risks and improved macroeconomic data.

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