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ISLAMABAD: The Pakistan Cricket Board (PCB) on Wednesday announced that it received 12 bids from interested parties for two new franchises of the Pakistan Super League (PSL) tournament, a statement issued by the cricketing body said. According to the statement, the board called the development an &ldquo;exceptional and encouraging response,&rdquo; sharing that &ldquo;these bidders belong to five continents, including the United States, Australia, Canada, the United Arab Emirates, and Pakistan.&rdquo;&nbsp; The board said that the response reflected PSL&rsquo;s growing global popularity and &ldquo;commercial appeal.&rdquo; It added that the results of the current phase of the bidding process will be announced on December 27.&nbsp; &ldquo;In the next stage, technically qualified bidders will be given the opportunity to purchase the two new teams through an open competition bidding process,&rdquo; the press release said. As of now, there are six teams in the league with every team containing a mix of local and international players.&nbsp; This will be the first major restructure of the tournament since 2018. The bidding process will be held on January 8, the board said.&nbsp; &ldquo;The Pakistan Cricket Board is committed to completing this process in a transparent and competitive manner in line with international standards, to ensure the continued expansion and growth of the HBL Pakistan Super League,&rdquo; the PCB statement said.

Cricket

Board says this would be the first major restructure to the tournament since 2018; bidding process to be held on January 8. 

Pakistan Cricket Board receives 12 bids from interested parties for two new PSL franchises

ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday extended &ldquo;heartfelt greetings&rdquo; on the joyous and blessed occasion of Christmas to the Christian communities, especially for those &ldquo;brothers and sisters living in Pakistan.&rdquo; According to a press release issued by the Press Information Department (PID), the premier wished &ldquo;all fellow citizens the traditional joys of this festive occasion,&rdquo; praying that it brings &ldquo;peace, stability, and prosperity for our country, including the valued Christian community.&rdquo; &ldquo;Christmas is not only a specific religious festival, it is also a universal message of love, peace, tolerance, and goodwill for all humanity, bringing people closer to one another,&rdquo; the premier said. He said that the Christian community in Pakistan represented an &ldquo;active, positive, and peaceful segment of our society and has made valuable contributions to the country&rsquo;s socio-economic development,&rdquo; terming their &ldquo;sincere efforts&quot; as &quot;truly commendable!&rdquo; In a post on X, PM Sharif said Pakistan&rsquo;s Christian community was &ldquo;an integral part of our national fabric,&rdquo; adding that their contributions are &ldquo;deeply valued and a source of collective pride.&rdquo;<div class="fr-embed"><div class="twitter-tweet twitter-tweet-rendered" style="display: flex; max-width: 550px; width: 100%; margin-top: 10px; margin-bottom: 10px;"><iframe id="twitter-widget-0" scrolling="no" frameborder="0" allowtransparency="true" allowfullscreen="true" title="X Post" src="https://platform.twitter.com/embed/Tweet.html?dnt=false&embedId=twitter-widget-0&features=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%3D%3D&frame=false&hideCard=false&hideThread=false&id=2004061984187466173&lang=en&origin=https%3A%2F%2Fmain.d1wrm1qseko1cp.amplifyapp.com%2Farticles%2F&sessionId=86880188e0bf9a80a6092e32ec3ea00a0b8e8be2&theme=light&widgetsVersion=2615f7e52b7e0%3A1702314776716&width=550px" style="position: static; visibility: visible; width: 550px; height: 369px; display: block; flex-grow: 1;" data-tweet-id="2004061984187466173"></iframe></div></div> PM Sharif said that the sacrifices made by the community, &ldquo;standing shoulder to shoulder with the entire nation in the fight against terrorism, are a source of great pride for us.&rdquo; &ldquo;Their significant services in the fields of education, healthcare, and other walks of life have greatly contributed to the promotion of social harmony,&rdquo; he said. The premier said that it remained a &ldquo;key priority&rdquo; for Pakistan to &ldquo;ensure interfaith harmony, protection of rights and freedoms, economic well-being, and equal opportunities&rdquo; for professional growth for all citizens without discrimination of &ldquo;religion, race, or ethnicity.&rdquo; He called on the country to renew &ldquo;our collective solemn resolve that people of all faiths and backgrounds will continue to work together constructively to build a strong, secure, and prosperous Pakistan for future generations.&rdquo; &ldquo;With best wishes, I extend my heartfelt Christmas greetings to all,&rdquo; the premier said President Zardari honors Quaid-e-AzamSeparately, according to a press release by PID, President Asif Ali Zardari said that the country honored &ldquo;Quaid-e-Azam Muhammad Ali Jinnah, the Father of the Nation, and remember the conviction and hard work that shaped Pakistan.&rdquo;&nbsp; &ldquo;His leadership and principles continue to guide us as we navigate the challenges of our time,&rdquo; the president said. He said that Jinnah stood for &ldquo;democracy, justice, and equality.&rdquo;&nbsp; &ldquo;These values remain central to our national journey and must continue to shape our choices and institutions,&rdquo; he said, adding that Jinnah called for &ldquo;unity, faith and discipline,&rdquo; giving our nation a clear direction.&nbsp; &ldquo;These principles remain essential for our progress and for maintaining social cohesion and confidence,&rdquo; he said. The president, while citing Jinnah&rsquo;s 150th birth anniversary next year, said that it was important that we &ldquo;reflect on his life and struggle in a meaningful and thoughtful manner.&rdquo;&nbsp; &ldquo;This milestone offers an opportunity to renew our commitment to his vision and to pass on his ideals to future generations with honesty and purpose,&rdquo; he added.

Culture

President Zardari honors Quaid-e-Azam on founder’s birth anniversary, remembers conviction and hard work that shaped Pakistan. 

PM Sharif extends ‘heartfelt greetings’ on joyous, blessed Christmas 

BETHLEHEM: Scouts marched under a clear blue sky in Bethlehem on Wednesday, as the Palestinian city emerged from the shadow of the war in Gaza to celebrate its first festive Christmas in more than two years. Throughout the Gaza war that began with Hamas&#39;s attack on Israel in October 2023, a sombre tone had marked Christmases in the biblical birthplace of Jesus Christ. But on Wednesday, celebrations were in full swing again in the occupied West Bank city, as a fragile truce held in Gaza, where hundreds of thousands of people are facing the winter in makeshift tents. At the Vatican, Pope Leo XIV delivered his first Christmas Mass at Saint Peter&#39;s Basilica, after he called for &quot;24 hours of peace in the whole world.&quot; The American pontiff, who was elected by fellow cardinals in May following the death of Pope Francis, said Christmas was a feast of &quot;faith, charity, and hope&quot; and criticized a &quot;distorted economy&quot; that &quot;leads us to treat human beings as mere merchandise.&quot; Leo stuck to a very religious homily without any direct reference to current affairs. Across the world, families began gathering to mark Christmas Eve, and millions of children everywhere waited eagerly for their gifts to be delivered. In Bethlehem, the sound of drums and bagpipes playing renditions of popular Christmas carols filled the air, as Christians, young and old, made their way to the city&#39;s central Manger Square. &quot;Today is full of joy because we haven&#39;t been able to celebrate because of the war,&quot; said Milagros Anstas, 17, dressed in the yellow and blue uniform of Bethlehem&#39;s Salesian scout group. &#39;Desire of life&#39; Hundreds of people took part in the parade down Bethlehem&#39;s narrow Star Street, while a dense crowd massed in the square. Men dressed as Santa Claus sold toffee apples and toys as families took photographs in front of a nativity scene framed by a giant star. As evening fell, multi-colored lights shone over Manger Square and a towering Christmas tree glittered next to the Church of the Nativity. The basilica dates back to the fourth Century and was built on top of a grotto where Christians believe Jesus was born more than 2,000 years ago. Bethlehem residents hope the return of Christmas festivities will breathe life back into the city. &quot;We need to get the message to the whole world, and this is the only way,&quot; said George Hanna, from the neighboring town of Beit Jala. &quot;What is Christmas without celebrating?&quot; Bethlehem&#39;s municipality toned down Christmas festivities while war raged in Gaza, but a US-brokered ceasefire between Israel and Hamas has halted full-scale fighting there since October. &quot;This year we want a Christmas full of light because this is what we need after two years of darkness,&quot; said Jerusalem&#39;s Latin Patriarch, Cardinal Pierbattista Pizzaballa, before leading Midnight Mass at the Church of the Nativity. The senior cleric visited war-battered Gaza over the weekend, leading a Christmas Mass at the Holy Family Parish in Gaza City on Sunday. He told the crowd in Manger Square that he had witnessed &quot;a disaster&quot; in the Palestinian territory, but also a spirit of resilience. &quot;The situation is really catastrophic. But I saw there also the desire of life, as here,&quot; he said. &quot;In the midst of nothing, they have been able to celebrate.&quot; Carmelina Piedimonte, who travelled to Bethlehem from Italy as part of a Catholic group, said witnessing the Christmas celebrations in the occupied West Bank had filled her with hope. &quot;If in your heart you have love, then it&#39;s possible to have a world without war,&quot; she said, as bells rang out behind her. &#39;New future&#39; In Syria, Christmas lights illuminated the capital Damascus&#39;s Old City despite the Christian community&#39;s fears of violence after a deadly shooting and suicide bombing attack in June. Around the district, home to a vibrant community and several important churches, red baubles hung from trees, shopkeepers put up Christmas decorations, and street vendors peddled warm chestnuts. &quot;Syria deserves joy and for us to be happy, and to hope for a new future,&quot; said student Loris Aasaf, 20, as she soaked up the atmosphere with her friends. Globally, families with the means to do so began gathering to mark Christmas Eve together, as children counted down the hours for the delivery of their presents. The Flightradar24 tracking site, among others, revived its annual tradition of posting a live Santa tracker, showing Father Christmas&#39;s sleigh soaring through the skies from the North Pole to deliver presents. In Australia, Prime Minister Anthony Albanese had a more sombre message in the wake of the recent attack on a Hanukkah celebration at Bondi Beach. &quot;Wherever you are across our wonderful country, Christmas will feel different this year,&quot; he said. &quot;After the terror inflicted on Jewish Australia, celebrating Hanukkah and Bondi Beach, we feel the weight of sorrow in our hearts.&quot;

Middle East

In Bethlehem, the sound of drums and bagpipes playing renditions of popular Christmas carols fill the air, as Christians young and old made their way to the city's central Manger Square.

Bethlehem celebrates first festive Christmas since Gaza war

DAKAR: At least 12 people died on Wednesday after a boat filled with migrants seeking to reach Europe sank off the coast of Senegal, security sources said. The coastal west African country is one of the main departure points for the thousands of Africans who for years have been taking the perilous Atlantic route to reach Europe, primarily via the Spanish Canary Islands, aboard overcrowded and often dilapidated boats. The latest sinking came in the waters off the town of Mbour when a boat loaded with around 100 people capsized, a security source told AFP on condition of anonymity. &quot;Twelve bodies were retrieved,&quot; the source said. A second security source confirmed the toll to AFP. &quot;There were 32 survivors. The others probably fled&quot; before rescue services arrived on the scene, one source told AFP. President Bassirou Diomaye Faye expressed condolences to the families of the victims in a social media post on Wednesday. &quot;We share their sorrow and their pain while the search continues to find any survivors,&quot; he said. On Tuesday, police intercepted 123 migrants aboard a boat in Senegal&#39;s Thies region.

Africa

Coastal west African country is one of main departure points for the thousands of Africans who for years have been taking the perilous Atlantic route to reach Europe, primarily via the Spanish Canary Islands, aboard overcrowded and often dilapidated boats.

12 die as migrant boat sinks off Senegal

MAIDUGURI: An explosion ripped through a mosque in the northeastern Nigerian city of Maiduguri and killed at least seven worshippers on Wednesday, witnesses and security sources told AFP. No armed groups immediately claimed responsibility for what militia leader Babakura Kolo said was a suspected bombing. Maiduguri is the capital of Borno state, home to a years-long insurgency by the fighter groups Boko Haram and an offshoot, Islamic State West Africa Province, though the city itself has not seen a major attack in years. The bomb went off inside a crowded mosque in the city&#39;s Gamboru market, as Muslim faithful gathered for evening prayers, according to witnesses. One of the leaders of the mosque, Malam Abuna Yusuf, put the toll at eight dead, though officials have not yet released a casualty count. Kolo said that seven were killed. He said it was suspected that the bomb was placed inside the mosque and exploded midway through prayers, while some witnesses described a suicide bombing. It was not immediately clear how many people were injured, though witness Isa Musa Yusha&#39;u told AFP: &quot;I saw many victims being taken away for medical treatment.&quot; Videos taken in the aftermath and seen by AFP showed a person covered in blood writhing on the ground, and what appeared to be bodies covered by a sheet. A security alert sent by an international NGO to its staff in Maiduguri, seen by AFP, advised its workers to stay away from the Gamboru market area. Deadly insurgency Nigeria has been battling a jihadist insurgency since 2009 in a conflict that has killed at least 40,000 and displaced around two million people from their homes in the northeast, according to the UN. Though the violence has waned since its peak a decade ago, it has spilled into neighboring Niger, Chad, and Cameroon. And concerns are growing about a resurgence of violence in parts of the northeast, where insurgent groups remain capable of mounting deadly attacks despite years of sustained military operations. Maiduguri itself &mdash; once the scene of nightly gun battles and bombings &mdash; has been calm in recent years, with the last major attack recorded in 2021. But reminders of the conflict are never far off in the state capital, where major military operations are headquartered. Military pick-ups lumber through town daily, their beds filled with soldiers whose helmets shield them from the hot afternoon sun. Evening checkpoints are still in effect, even as markets that once closed in the early afternoon throng into the night. Meanwhile, in the countryside, the insurgency continues to rage, with analysts warning of an uptick in jihadist violence this year.

No armed groups immediately claim responsibility for what militia leader Babakura Kolo said is a suspected bombing.

Nigeria mosque bombing kills at least seven

PARIS: Fourteen countries, including France, Britain, and Germany, condemned on Wednesday Israel&#39;s recent approval of new Jewish settlements in the occupied West Bank.&nbsp;&quot;We, States of Belgium, Canada, Denmark, France, Germany, Italy, Iceland, Ireland, Japan, Malta, the Netherlands, Norway, Spain and the United Kingdom condemn the approval by the Israeli security cabinet of 19 new settlements in the occupied West Bank,&quot; said a joint statement released by the French foreign ministry.&nbsp;&quot;We recall our clear opposition to any form of annexation and to the expansion of settlement policies,&quot; it added.&nbsp;On Sunday, Israel&#39;s far-right Finance Minister Bezalel Smotrich announced the authorities had greenlit the settlements, saying the move was aimed at preventing the establishment of a Palestinian state.&nbsp;In their statement, the countries stressed such unilateral actions &quot;violate international law&quot; and risk undermining a fragile ceasefire in Gaza as mediators push for the implementation of the second phase of the truce.&nbsp;The countries urged Israel &quot;to reverse this decision, as well as the expansion of settlements&quot;.&nbsp;They also reaffirmed their &quot;unwavering commitment to a comprehensive, just and lasting peace based on the two-state solution... where two democratic states, Israel and Palestine, live side-by-side in peace and security&quot;.&nbsp;Israel has occupied the West Bank following a war in 1967.&nbsp;Excluding east Jerusalem, which was occupied and annexed by Israel in 1967, more than 500,000 Israelis live in the West Bank, along with about three million Palestinian residents.&nbsp;Earlier this month, the United Nations said the expansion of Israeli settlements in the West Bank -- all of which are illegal under international law -- had reached its highest level since at least 2017.

Europe

Fourteen nations condemned Israel’s approval of new West Bank settlements, calling them illegal, urging reversal, warning of risks to the Gaza ceasefire, and reaffirming support for a two-state solution.

14 countries condemn Israel's expansion of West Bank settlements

TEHRAN: Iran&#39;s Revolutionary Guards on Wednesday seized an oil tanker in the Gulf carrying more than a dozen foreign crew members, state media reported. The vessel &quot;was carrying 4 million litres of smuggled fuel with 16 non-Iranian crew members on board,&quot; state television quoted navy commander General Abbas Gholamshahi as saying. Forces from the Islamic Revolutionary Guard Corps (IRGC) &quot;boarded the ship ... as it was leaving Iranian territorial waters,&quot; he added. It was not immediately clear which flag the ship was flying. Iranian forces regularly announce the interception of ships it says are illegally transporting fuel in the Gulf. They regularly target tankers that Tehran accuses of being part of the illicit trade in the Strait of Hormuz, a key chokepoint for global oil and liquefied natural gas shipments. Wednesday&#39;s seizure is the latest in a series of similar incidents in recent weeks. Earlier in December authorities seized a tanker in the Gulf of Oman with 18 crew members from India, Sri Lanka and Bangladesh on board. That interception came days after the United States seized an oil tanker off the coast of Venezuela. According to Washington, the ship&#39;s captain was transporting oil from Venezuela and Iran. The US Treasury sanctioned Venezuela in 2022 over alleged ties to the IRGC and Hezbollah. Retail fuel prices in Iran are among the lowest in the world, making smuggling fuel to other countries particularly profitable. Last month, Iran seized an oil tanker in Gulf waters &quot;for carrying an unauthorised cargo&quot;. Also in November, the IRGC confirmed they had seized a Marshall Islands-flagged oil tanker in the Gulf.

Iran’s Revolutionary Guards seized an oil tanker in the Gulf carrying 4 million litres of fuel and 16 foreign crew members, part of ongoing interceptions of ships accused of illegal fuel transport

Iran Guards seize foreign-crewed oil tanker in Gulf: state media

HAYMANA:&nbsp;Turkish authorities on Wednesday found the cockpit voice recorder and black box from a private jet that crashed killing the head of Libya&#39;s armed forces and his four aides. The Falcon 50 aircraft requested an emergency landing because of electrical failure minutes after it took off from the Turkish capital Ankara on Tuesday, but contact was lost, Turkish officials said. The plane was returning to Tripoli. The wreckage was located by Turkish security personnel in the Haymana district near Ankara. Interior Minister Ali Yerlikaya told reporters at the crash site that the plane&#39;s voice recorder and the flight data recorder (black box) had been recovered. &quot;The examination and evaluation processes of these devices have been initiated,&quot; he said. Turkey&#39;s Transport Minister Abdulkadir Uraloglu said later on X: &quot;The analysis of the voice recorder and flight data recorder to determine the cause of the aircraft&#39;s crash will be carried out in a neutral country.&quot; The findings would be shared &quot;with our nation and the entire world with full transparency&quot;, he added. Analysis &#39;may take monthsLieutenant General Mohammed al-Haddad and four other aides were returning to Tripoli after holding talks in Ankara with Turkish military officials. There were eight people aboard the plane including three crew members. Libya&#39;s Prime Minister Abdulhamid Dbeibah expressed &quot;deep sadness and great sorrow&quot; over the death of the army chief. Yerlikaya said the bodies were still at the crash site that covers approximately three square kilometres (one square mile), adding that a 22-member Libyan delegation including five relatives of the deceased had arrived in Ankara. &quot;We pray for God&#39;s mercy upon those who lost their lives in this tragic accident and extend our condolences to their families,&quot; he added. A total of 408 personnel from the government&#39;s disaster agency AFAD, police and health services are at the scene, the minister said, while the real-time imagery from the area is being relayed by drones. Turkish officials said the Ankara prosecutor&#39;s office has launched an investigation into the incident. Tolga Tuzun Inan of Istanbul-based Bahcesehir University said a single electrical failure would not leave an aircraft completely dark. &quot;When multiple triggering factors combine with meteorological conditions, such a situation may occur,&quot; he told the private NTV broadcaster. He said data from the black box would reveal what happened, but cautioned that the analysis process could take several months. Erdogan&#39;s condolencesHaddad had been the army&#39;s chief of general staff since August 2020 and was appointed by then-prime minister Fayez al-Sarraj. President Recep Tayyip Erdogan offered condolences over the loss of lives during a phone call with Prime Minister Dbeibah, his office said. Libya is split between a UN-recognised government in Tripoli, led by Dbeibah, and commander Khalifa Haftar&#39;s administration in the east. The North African country has been divided since a NATO-backed revolt toppled and killed longtime leader Moamer Kadhafi in 2011. Turkey has close ties with the UN-backed government in Tripoli, to which it provides economic and military support. But Ankara has recently also reached out to the rival administration in the east, with the head of Turkey&#39;s intelligence agency, Ibrahim Kalin, meeting with Haftar in Benghazi in August.

Turkish authorities found the cockpit voice recorder and black box from a private jet that crashed killing the head of Libya's armed forces and his four aides

Black box recovered from Libyan general's crashed plane

ISLAMABAD: Pakistan Army Chief and Chief of Defense Forces Field Marshal Syed Asim Munir on Wednesday presided over the 273rd Corps Commanders&rsquo; Conference (CCC) held at General Headquarters (GHQ) in Rawalpindi, according to a statement by the military media.&nbsp;The meeting conducted a detailed review of internal and external security environments, focusing on evolving threats and operational preparedness, said Inter Services Public Relations (ISPR) statement.&nbsp;&ldquo;Due to the joint efforts of the Government and Pakistan Army and the steadfast support of the Pakistani people, our country is moving gradually but surely toward stability, broader opportunities, and honor and dignity&rdquo;, added the statement.&nbsp;The conference participants reaffirmed that all &ldquo;terrorists, their facilitators, and supporters operating under Indian patronage&rdquo; will be dealt with decisively.&nbsp;Military&rsquo;s top brass vowed that any &ldquo;malicious efforts&rdquo; aimed at undermining Pakistan&rsquo;s unity, security, and stability would not be tolerated, said the statement.&nbsp;The field marshal also paid tribute to the law enforcement agencies, innocent civilians who lost their lives in terrorist activities, and the Armed Forces for &ldquo;their courage, professionalism, and sacrifices&rdquo;, added the statement.&nbsp;The forum also reiterated Pakistan commitment to the people&rsquo;s &ldquo;right to self-determination and their legitimate struggle&rdquo; in Kashmir and Gaza.&nbsp;The CDF Munir also expressed his full confidence in Pakistan Army capability to effectively &ldquo;counter conventional and sub-conventional threats as well as asymmetric challenges&rdquo; to the country sovereignty and territorial integrity, as per the statement.&nbsp;&ldquo;The COAS and CDF directed commanders to maintain the highest standards of operational readiness, discipline, training, physical fitness, technological innovations, and battlefield adaptability,&rdquo; the statement concluded.

Security

Pakistan Army Chief Asim Munir led the 273rd Corps Commanders’ Conference, reviewed security threats, vowed action against terrorism, honored sacrifices, and reaffirmed support for Kashmir and Gaza.

Pakistan military leadership vows to crush facilitators of terrorism

ISLAMABAD: Gold prices soared to historic highs Wednesday,&nbsp;with the precious metal trading above $4,500 per ounce as investors sought refuge amid escalating geopolitical tensions and mounting concerns over global economic stability. Price of gold reached $4,495.34 per ounce, according to the World Gold Council, while COMEX gold futures climbed to $4,521.20, up $15.50 or 0.34% from Monday&#39;s close of $4,516.70. The contract hit an intraday high of $4,555.10 before settling back. The increase&nbsp;represents a dramatic shift in the gold market, driven by what the World Gold Council describes as &quot;shifting global fundamentals&quot; rather than speculative trading. Central banks emerged as major buyers for the third consecutive year, with China, Turkey, Poland and India collectively purchasing more than 1,000 tonnes annually. The buying spree reflects a strategic move by governments to diversify reserves away from US dollar-denominated assets. Western institutional investors also returned to gold after years of exodus from the market. Gold-backed exchange-traded funds recorded more than $77 billion in inflows during 2025, adding over 700 tonnes to global holdings by year-end, according to World Gold Council data. The market development organization, whose quarterly reports serve as the industry standard used by central banks, the International Monetary Fund and major financial institutions, cited multiple factors behind gold&#39;s rally. Ongoing conflicts in Eastern Europe and the Middle East, combined with recent US naval actions involving Venezuelan-linked tankers, have intensified demand for assets perceived as safe stores of value. Trade policy uncertainty and tariff disputes have further amplified gold&#39;s appeal as a hedge against systemic economic shocks. Growing doubts about US fiscal stability, with national debt surpassing $40 trillion, have prompted investors to question the long-term role of Treasury securities in their portfolios. Gold has emerged as what analysts call the &quot;preferred diversifier&quot; in an increasingly uncertain financial landscape. The Federal Reserve&#39;s anticipated rate cuts throughout 2026 have also improved gold&#39;s relative attractiveness. Lower interest rates reduce the opportunity cost of holding non-yielding bullion compared to bonds. Other precious metals posted gains alongside gold. Silver rose 1.66% to $72.315 per ounce, while platinum jumped 2.14% to $2,336.40. Palladium edged up 0.52% to $1,966.00, according to COMEX trading data. The World Gold Council characterized 2025&#39;s price performance as a fundamental market shift rather than a temporary spike, stating that gold has &quot;reasserted its historic role as the ultimate store of value&quot; amid currency realignment and geopolitical volatility.

Business

Gold hits $4,500 per ounce as investors seek safety amid geopolitical tensions, central bank buying, and mounting US fiscal concerns.

Pakistan Cricket Board receives 12 bids from interested parties for two new PSL franchises

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Latest News

PM Sharif extends ‘heartfelt greetings’ on joyous, blessed Christmas

Pakistan Cricket Board receives 12 bids from interested parties for two new PSL franchises

Bethlehem celebrates first festive Christmas since Gaza war

12 die as migrant boat sinks off Senegal

Nigeria mosque bombing kills at least seven