LONDON: Stock markets diverged Monday as a deepening political crisis in France sent Paris into a tailspin while a new Japanese ruling party leader buoyed shares in Tokyo.&nbsp;Gold pushed ever closer to $4,000 an ounce as the US government shutdown and expected interest cuts from the Federal Reserve boosted the precious metal&#39;s attractiveness.&nbsp;The euro fell against main rivals and French borrowing costs spiked as Sebastien Lecornu, who had been prime minister for less than a month, resigned just 14 hours after naming a largely unchanged cabinet.&nbsp;France&#39;s &quot;fractured parliament is making it nearly impossible to pass a budget that reduces the fiscal deficit&quot;, said Jack Allen-Reynolds, deputy chief eurozone economist at Capital Economics.&nbsp;&quot;With government borrowing running at more than five percent of GDP and the debt ratio rising, the risk premium on French government bonds will continue to widen,&quot; he added.&nbsp;Shares in French banks BNP Paribas, Societe Generale and Credit Agricole all shed around three percent in afternoon trading.&nbsp;The London and Frankfurt stock exchanges, however, were up in afternoon deals.&nbsp;On Wall Street, both the S&amp;P 500 and tech-heavy Nasdaq Composite sat next to record highs as AI deals overshadowed concerns over a government shutdown that dragged into a second week.&nbsp;Shares in Advanced Micro Devices (AMD) jumped more than 33 percent after the chipmaker announced a multi-year partnership with OpenAI to develop AI data centres which should bring it tens of billions of dollars in new revenue over the next five years.&nbsp;In Asia, Tokyo surged almost five percent to a record high and the yen sank on bets the new leader of Japan&#39;s ruling party will loosen monetary policy to kickstart the economy.&nbsp;Sanae Takaichi, likely to become Japan&#39;s prime minister this month, has previously backed aggressive monetary easing and expanded government spending.&nbsp;The yen weakened more than one percent against the dollar and hit a record low against the euro.&nbsp;Yields on 30-year Japanese bonds rose sharply reflecting fears the country&#39;s already colossal debt will balloon further.&nbsp;After her victory Saturday, Takaichi pledged first to implement measures to address inflation and boost Japan&#39;s economy, rural areas and primary industries.

Business

Paris stocks slumped after French PM Sebastien Lecornu resigned, while Tokyo surged on optimism over Japan’s incoming leader Sanae Takaichi. 

Paris stocks drop as French PM resigns, Tokyo soars

Web Desk

ISLAMABAD: Against the romantic backdrop of the Eiffel Tower and the gentle hum of Parisian chatter, the aroma of garam masala and sizzling kebabs lured passersby into a world far from the Champs-&Eacute;lys&eacute;es. The International Village of Gastronomy had transformed the heart of Paris into a global feast, and the Pakistani pavilion quickly became its crown jewel. Dressed in green and white, and lined with vibrant images of Lahore&#39;s food streets and Hunza&#39;s serene landscapes, the Pakistani stand offered more than just food. It served a slice of home for expats and a taste of discovery for curious locals. From steaming plates of chicken biryani, each grain fragrant and perfectly spiced, to golden-brown vegetable samosas with a satisfying crunch, the display was both a culinary and cultural celebration. Sweet treats like gulab jamuns and jalebi, soaked in syrup and glistening under the French sun, delighted visitors from every continent. And when thirst struck, guests reached for classic Pakistani drinks &mdash; Rooh Afza, served chilled with a splash of lemon, or refreshing mango juice that reminded many of tropical summers. The star behind this gastronomic diplomacy was Ambassador Mumtaz Zahra Baloch, who inaugurated Pakistan&rsquo;s participation at the event. Standing alongside international guests and French dignitaries, she welcomed the founder of the event, Anne-Laure Descombin, and thanked her for including Pakistan in such a vibrant cultural showcase. &ldquo;This pavilion highlights not just our culinary traditions, but the spirit of Pakistan,&rdquo; Baloch said, smiling as she greeted guests and posed for photos with plates in hand. &ldquo;Diverse, warm, and full of flavor.&rdquo; The festival, now a staple in the Parisian cultural calendar, brings together over 60 global and regional cuisines, drawing more than 10,000 visitors daily. Held just steps from the Seine River, the four-day event mixes gastronomy with storytelling, inviting embassies and chefs to build bridges between cultures through their signature dishes. Curious visitors leaned in to ask about secret spice blends and family recipes passed down generations. &ldquo;Is this saffron?&rdquo; asked one French tourist, pointing at the golden hue of the biryani. &ldquo;No,&rdquo; laughed the chef, &ldquo;It&rsquo;s turmeric, our sunshine spice.&rdquo; As part of Pakistan&rsquo;s broader public diplomacy efforts in France, the event served more than food. It showcased the country&rsquo;s rich cultural identity. From the bustling food markets of Karachi to the home kitchens of Peshawar, the variety of dishes offered at the pavilion spoke volumes of the country&#39;s regional diversity. Many attendees were surprised by the balance of flavor. Heat from the chilies, depth from slow-cooked meats, and sweetness in desserts, all harmonized in perfect rhythm. By sunset, as the Eiffel Tower began to sparkle in the Parisian twilight, the Pakistani pavilion still buzzed with activity. The crowd lingered, some sipping on Rooh Afza, others enjoying their first taste of channa chaat or seekh kebab, while music played softly in the background. Baloch commended her team for their dedication, calling the event &ldquo;a celebration of cultural connection,&rdquo; adding that &ldquo;moments like these remind us how food can unite people, beyond borders and languages.&rdquo; In a city that prides itself on gastronomy, Pakistan&rsquo;s flavors didn&rsquo;t just compete, they captivated.

Food

Pakistan’s vibrant cuisine dazzled Parisians at the International Gastronomy Village near the Eiffel Tower, drawing thousands of eager food lovers.

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Paris stocks drop as French PM resigns, Tokyo soars

Biryani to Rooh Afza: Pakistani cuisine steals the spotlight in Paris