Latest news with #EidHolidays
Express Tribune
06-06-2025
- Express Tribune
Eid exodus overwhelms bus, train stations
Rawalpindi Railway Station is crowded with travellers departing for their ancestral villages and towns to celebrate Eid with their loved ones. PHOTO: AGHA MAHROZ/EXPRESS The bus stands and railway stations in the twin cities have become immensely crowded as non-resident workers leave to spend Eid Holidays with their loved ones in their hometowns. The exodus has led to a massive crowd at transportation hubs, including the Rawalpindi railway station, General Bus Stand Pir Wadhai and other smaller and larger transportation terminals. Transporters took advantage of the situation by significantly increasing fares, leading to disputes and altercations with passengers throughout the day. Surprisingly, no special Eid trains are operating from Rawalpindi this year, and neither are there any 20 per cent discounted tickets like in the past. Passengers were informed that the discount would only be applicable during the Eid holidays and not before. Transporters have increased fares by Rs100 to Rs 150 for various routes, including Peshawar, Lahore, Faisalabad, Multan, Jhang, Sialkot, Bahawalpur, Mardan and Kohat. Although the railway has reduced fares by up to 20 per cent for all trains, passengers have complained about being charged Rs90 in excess. The fare from Rawalpindi to Lahore is Rs1,140. Trains from Rawalpindi to Lahore, Karachi, and Peshawar are fully booked, with passengers struggling to secure seats. Those who could not find seats on buses headed to the railway station. Traffic of travellers crowds the Rawalpindi and Chaklala railway stations, particularly for those heading to Karachi and Multan. In addition, local transport, including buses and coaches, have been diverted to long routes due to Eid which has caused difficulties for people travelling within districts and nearby areas.
LBCI
04-06-2025
- General
- LBCI
Arida border reopens, offering Syrian families a way home after months of closure
Report by Edmond Sassine, English adaptation by Mariella Succar The reopening of the Arida border crossing between Lebanon and Syria on Tuesday offered a long-awaited chance for Syrian families to return home, more than six months after Israeli airstrikes forced its closure. In the dusty strip of land separating the two countries, scenes of reunion and anticipation played out as families gathered on their way back to Syria. Arida, the second-largest land crossing between Lebanon and Syria, had been closed since November 26 following Israeli strikes on the area. At 7 a.m. Tuesday, traffic resumed—and quickly picked up speed in both directions. The crossing is a crucial route for Syrians seeking to return home while avoiding lengthy and costly detours. It's also essential for Lebanese travelers heading between northern Lebanon and Syria's coastal towns. The road damaged in the November strikes has been patched with compacted earth, and Syrian authorities have outfitted the crossing with temporary facilities to welcome travelers returning for the Eid holidays. Passenger halls on the Syrian side saw steady movement, with border officials processing entries and exits throughout the day. Though the reopening went smoothly overall, at least one woman was unable to complete her journey due to issues with her paperwork. Reconstruction efforts at the site are ongoing, and the crossing will remain open through the holiday period. Of the three border posts linking northern Lebanon and Syria, Arida is currently the only one in operation.
Khaleej Times
23-04-2025
- Business
- Khaleej Times
Abu Dhabi shares witness highest overseas buying among GCC peers in first quarter
The Abu Dhabi Stock Exchange (ADX) witnessed the highest buying by foreign investors among GCC stock markets in the first quarter, a report showed. According to data from Kamco Invest, overseas investors bought $2.3 billion worth of shares on ADX, followed by Boursa Kuwait at $705.6 million. The Dubai Financial Market witnessed the third-highest buying, with $343 million worth of shares being purchased by foreign investors. Overall, foreign investors, including institutional and retail investors, were net buyers on GCC stock markets during Q1-2025, with net buying at $2.8 billion as compared to $3.0 billion during Q4-2024. 'The trend was positive at the start of the year with consecutive buying seen in the first two months followed by net selling during March-2025,' the report, written by Junaid Ansari, Kamco's Head of Investment Strategy & Research, and Vineetha K. Yeluri, Analyst, said. The top three were followed by the Saudi and Bahrain exchanges, with net buy transactions of $252.3 million and $23.2 million, respectively. Data for Qatar and Oman showed net selling at $421.0 million and $459.2 for Q1-2025. The monthly trend showed Boursa Kuwait witnessed consecutive buying by foreigners during the three months of the quarter. Conversely, Saudi Arabia and the UAE recorded net buying by foreign investors during the initial two months, which were succeeded by net sales in March 2025. Recently, Saudi Capital Market Authority (CMA) announced that foreigners can invest in Saudi-listed companies that own real estate in the holy cities of Makkah and Madinah. 'This move is aimed at attracting foreign capital and providing the necessary liquidity for current and future projects,' the authors wrote. Similarly, Qatar witnessed net buy trades by foreign investors during Jan-2025 followed by net sell trades during the remaining two months. On the other hand, Oman exchange witnessed net sales by foreign investors during the quarter. 'The Muscat Stock Exchange has announced new investment initiatives that involve collaboration with other market exchange platforms, aimed at enhancing liquidity sources across various markets to encourage increased local and international investments,' the report said. Some of the key factors that affected the flow of foreign money in the region included regional market trends, IPOs, geopolitical issues, economic health of the individual countries and crude oil prices. The quarterly trend in the equity market was skewed towards decliners as six out of seven exchanges reported declines during Q1-2025. The uncertainty related to US trade policies and a forecasted slowdown in the US economy affected investor sentiments in the region. The US government's consecutive announcements related to imposition of tariffs on US imports and the counter measures from its trading partners affected investor confidence in global economic growth. 'The seasonal selling pressure during the Eid Holidays also resulted in a decline in the market. As a result, local investors were net sellers during the quarter and these shares were grabbed by foreign investors resulting in a broad-based net buy trades by the latter,' the report said. In terms of m-o-m performance, net buying value by foreign investors peaked during February-2025 with aggregate monthly net buying at $2.4 billion. January registered net buying at $833.8 million, while March witnessed a decline with net selling at $518.4 million. 'Historical trend for trading by foreigners in GCC listed stocks showed declines merely in one quarter over the last five years. Foreigners bought the most stocks during Q1-2022 with net buy transactions of $11.0 billion, reflecting steep increase in buying mainly in Saudi Arabia and Qatar,' the report said. In the Saudi market, Saudi investors were net sellers during Q1-2025 at SAR 945.6 million as compared to SAR 4.2 billion in net selling during Q4-2024. However, Saudi Institutions were net buyers of Saudi stocks to the tune of SAR 102.8 million that was more than offset by net sell trades by Saudi retail investors at SAR 1.0 billion. On the other hand, buying was mostly seen in trades by non-GCC foreigners that bought SAR 2.4 billion in net buy trades during the quarter that was partially offset by net sell trades by GCC investors at SAR 1.5 billion. Trading by GCC investors (Excluding Bahrain due to unavailability of data) in GCC exchanges showed net selling during Q1-2025. During Q1-2025, net sell trades by GCC investors reached $482.3 million, reflecting a decline from the $505.3 million in net sell trades recorded in Q4-2024. Boursa Kuwait witnessed the biggest net buying by GCC investors during Q1-2025 at $56.9 million followed by Dubai exchanges at $12.4 million. On the other hand, Saudi Arabia, Abu Dabi, Qatar and Oman exchanges recorded net sales by GCC investors in Q1-2025 partially offsetting the overall buying by GCC investors.
