Latest news with #Hassan


Express Tribune
13 hours ago
- Express Tribune
Another 'millionaire maid' arrested for jewellery theft in Karachi
Listen to article Police in Karachi's Defence area have arrested another domestic worker accused of drugging household members and looting their valuables, with investigators revealing that she had amassed wealth through similar crimes in both Karachi and Rawalpindi, Express News reported on Tuesday. According to South Investigation SSP Ali Hassan, the suspect — identified as Farzana Kausar alias Mehreen — allegedly stole jewellery worth Rs6.5 million from a bungalow in Karachi before fleeing the city. She was later traced and apprehended through technical surveillance. During interrogation, police said, the accused confessed to administering drug-laced green tea to the family members, rendering them unconscious before executing the theft. Read More: Govt strikes again with fuel price hike SSP Hassan revealed that the woman gained employment as a domestic help and used the position to target households in both Karachi and Rawalpindi. 'She admitted to committing multiple thefts in homes where she worked as a maid,' the senior officer said, adding that further investigation is underway to verify her claims and determine the full extent of her criminal activity. The police are also gathering details of similar thefts she claimed to have carried out in Rawalpindi, SSP Hassan confirmed. Also Read: Punjab speaker halts action against suspended PTI MPAs This arrest comes weeks after Clifton Investigation Police apprehended a domestic worker, Shahnaz, who was found to be leading an unusually lavish lifestyle. The accused had been employed for 14 years at a residence in Khayaban-e-Tanzeem, Defence Housing Authority, where she allegedly stole cash, jewellery, and other valuables in small increments without raising suspicion. According to Investigating Officer Saeed Theem, Shahnaz had accumulated multiple cars, motorcycles, flats, and a grocery store, and maintained bank accounts containing millions of rupees. Her assets came to light during the course of an ongoing investigation.

Sky News AU
a day ago
- Business
- Sky News AU
Reserve Bank of Australia's shock rate hold dampens the mood for Aussie shoppers, per Westpac's Consumer Sentiment Index
Consumer confidence jumped in July but was hurt by the Reserve Bank of Australia's shock rate hold that denied millions of Australians much-needed mortgage relief. The latest Consumer Sentiment Index from Westpac and the Melbourne Institute ticked up 0.6 per cent to 93.1 per cent in July. Based on a survey conducted from July 7 to 11, respondents reported an index read of 95.6 before the RBA held rates. This dived to 92 after the central bank held the cash rate. Westpac's head of Australian macro-forecasting Matthew Hassan said the reaction minimised what 'would probably have been a solid rise'. 'This is the third time since late last year that events have conspired to undermine promising improvements in the consumer mood,' Mr Hassan said in the report. 'Daily responses showed similar patterns in April (following the 'Liberation Day' tariff announcements) and back in November (when a milder RBA disappointment combined with a surprise US Presidential election result).' The consumer sentiment index tracks family finances, expectations for the economy and whether Aussies believe now is a good time to buy a major household item. Australians remain 'cautiously pessimistic' about the nation's economy as the index remains below positive territory (above 100). The recent result, however, is still greatly above the consumer sentiment index scores of 82.7 in July 2024 and 81.3 in July 2023. AMP economist My Bui said the weight of post-pandemic inflation had weighed on household budgets and hurt consumer confidence. 'The main reason for why consumer sentiment has been negative for so long (more than three years, the most outside of recessions) is because of very sluggish readings in family finances since the end of 2020,' Ms Bui said in a statement. 'Unsurprisingly, wage earners are still worse off than 2020 given that the rise in price levels (+20 per cent) has outpaced wages growth (+15 per cent).' Credit reporting agency CreditorWatch pointed to Donald Trump's trade war for the lower than expected consumer confidence increase. 'Tariff related uncertainties about the longer-term outlook for the economy are also restraining confidence somewhat, though even abstracting from this effect, consumers would still be slightly net pessimistic about the economy,' it said. The Reserve Bank of Australia earlier this month held the cash rate at 3.85 per cent, subverting widespread expectations it would cut rates by 25 basis points. This would have been the first consecutive rate cut since early 2020 and the third cut this year. Whether the RBA cuts rates at its next meeting in August depends on what the trimmed mean inflation figure for the June quarter is. RBA governor Michele Bullock said the shock hold was about 'timing' as the central bank needed more concrete information about how inflation was continuing to decline.


West Australian
a day ago
- Business
- West Australian
RBA's hold keeps consumer sentiment recovery in check
Last week's move by the Reserve Bank to hold fire on a third interest rate cut for 2025 has failed to dampen the spirits of Australian consumers. But the shock decision that blindsided most market watchers did keep a lid on what would have been a solid gain in the monthly consumer sentiment index measured by big four bank Westpac and the Melbourne Institute. The index data, released on Tuesday, showed the recovery in consumer sentiment experienced another 'false start' in July — rising just 0.6 per cent to 93.1 — up from June's reading of 92.6. Westpac head of Australian macro-forecasting Matthew Hassan said responses over the survey week showed a clear disappointment following the RBA's move to leave the official cash rate on hold a 3.85 per cent — despite analysts saying ahead of the two-day meeting that a 25 basis-point cut was a near certainty. Mr Hassan said those surveyed before the decision reported an index read of 95.6 while those surveyed after reported it had dropped to 92. 'The reaction checked what would probably have been a solid rise,' he said. 'This is the third time since late last year that events have conspired to undermine promising improvements in the consumer mood. 'Daily responses showed similar patterns in April (following the Liberation Day tariff announcements) and back in November (when a milder RBA disappointment combined with a surprise US Presidential election result). 'The latest check to sentiment is less dramatic but it still leaves the consumer mood stuck at 'cautiously pessimistic' levels overall.' RBA governor Michele Bullock said last week the board would 'wait for a little more information' to be certain it had beaten inflation. The Westpac-Melbourne Institute survey found family finances improved for July but showed a sharper pull-back following the rates call. A family's current perception of their finances compared to a year ago posted a solid 5 per cent rise overall to 79.2. A family's confidence in their finances for the next 12 months posted a milder 2.6 per cent gain to 101.4, nudging back into net positive territory as households bank on signals from the RBA that more rate relief would be on the way when the time is right. The index's 'time to buy a major item' reading dropped 2.6 per cent to 97.6, partly unwinding last month's promising 7.5 per cent surge and dipping back into slight negative territory. 'The decision on interest rates may have tipped some consumers towards holding off on major purchases,' Mr Hassan said. But there were positive signs for Australia's overall economic fortunes over the next 12 months, with the index's outlook measure jumping 1.8 per cent to 94.1. Looking five years ahead, the measure rose 2.8 per cent to 93.4. 'Both sub-indexes are still marginally above historical averages but have struggled to sustain gains since the start of the year,' Mr Hassan said. 'Tariff-related uncertainty about the global economic backdrop continues to weigh particularly heavily on five-year views on the economy with this sub-index down nearly 8 per cent compared with March. 'Consumers are not overly concerned about the economy but appear unsure about which direction its heading in. '
Business Times
a day ago
- Business
- Business Times
Australia's July consumer optimism restrained by rate surprise, survey shows
[SYDNEY] A measure of Australian consumer sentiment improved marginally in July, a survey showed on Tuesday, though optimism on the economy was tempered by a central bank decision to skip a cut in interest rates. A Westpac-Melbourne Institute survey showed its main index of consumer sentiment crept up 0.6 per cent in July, following an equally restrained 0.5 per cent increase in June. The index was 12.6 per cent higher than a year earlier at 93.1, but being below 100 that still meant pessimists outnumbered optimists. The Reserve Bank of Australia surprised markets last week by holding rates at 3.85 per cent, when many had looked for a further cut following easings in February and May. Matthew Hassan, Westpac's head of Australian macro-forecasting, noted those surveyed before the decision reported an index reading of 95.6,while those surveyed after produced a reading of just 92. 'The reaction checked what would probably have been a solid rise,' said Hassan. 'It still leaves the consumer mood stuck at 'cautiously pessimistic' levels overall.' BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up A separate weekly survey from ANZ found a similar souring in mood, as its index dropped 2.1 points to 86.5 led by concerns over the economic outlook. Likewise, the Westpac survey showed its index of the economic outlook for the next year nudged up 1.8 per cent, while that for five years fell 2.8 per cent. Family finances compared to a year ago did enjoy a bounce of 5.0 per cent, while the outlook for the next 12 months picked up by 2.6 per cent. In a disappointing note for retailers, the index of whether it was a good time to buy a major household item dropped 2.6 per cent. REUTERS


Daily Tribune
2 days ago
- Health
- Daily Tribune
Strategic step to advance healthcare sector pushed
The Ministry of Health, in partnership with the International Center for Genetic Diseases at Harvard Medical School, has launched an advanced clinical training program focused on the responsible return of genetic test results. The initiative, which includes participation from various healthcare institutions and medical specialties across the Kingdom, aims to bolster the implementation of the Bahrain Genome Program. It focuses on equipping national medical personnel with cutting-edge knowledge and international best practices in genetic medicine, specifically in how to interpret and communicate genome test results to patients. On this occasion, Her Excellency Dr. Jalila bint Al-Sayed Jawad Hassan, Minister of Health, reaffirmed Bahrain's commitment to enhancing the quality and scope of healthcare services. She emphasised the Kingdom's continued investment in precision medicine and genomics to stay aligned with global medical advancements. 'This program is a reflection of our leadership's vision to reinforce the health sector and improve diagnostic and therapeutic services,' Dr. Hassan stated. 'The ability to effectively return genetic test results is a vital skill that strengthens the capabilities of our national workforce and maximizes the potential of genomic medicine in improving patient outcomes.' She praised the initiative as a cornerstone in Bahrain's broader health development goals under the guidance of His Majesty King Hamad bin Isa Al Khalifa and the directives of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister.