No contract was signed with Muzarabani for PSL stint, but verbal agreement was reached: PCB
Karachi (PTI): The Pakistan Cricket Board admitted that no contract was ever sent to Blessing Muzarabani to play in the PSL but insisted that a firm verbal agreement was reached with the Zimbabwe pacer and he had breached the trust while joining the Indian Premier League.
The PCB recently imposed a two-year ban on Muzarabani from playing in the PSL claiming he breached a contract with Islamabad United and joined IPL side Kolkata Knight Riders.
The fast bowler’s agent, Rob Humphries tore into the PCB on Sunday in a social media post for the ban and claimed his client neither took part in the PSL players auction nor signed any contract with Islamabad United.
Humphries said the ban was excessive and unjustified.
But sources in the PCB while conceding no contract was signed with Rabbani claimed that a clear verbal agreement between both the parties was reached.
The source said this was also clear in the PCB announcement about the ban that despite a clear offer and an unequivocal acceptance of essential terms, the player chose to disregard these obligations in favour of a conflicting arrangement.
The PCB source said once essential terms — including remuneration and structure — are agreed upon through written correspondence, a binding obligation is formed.
But Humphries said after talks began with Islamabad United they had made it clear that unless they had a contract they couldn’t apply for an NOC from the Zimbabwe Cricket.
“We've remained quiet publicly over the last six weeks because we did not wish to create or cause anymore animosity for the Pakistan Super League/Pakistan Cricket Board than they had already created for themselves,” Humphries’ statement said.
"[On] 13 February, Blessing [was] approached by Islamabad United about a playing opportunity for the 2026 PSL. The deal [was] agreed subject to obtaining a No Objection Certificate (NOC) from Zimbabwe Cricket.
“An NOC cannot be obtained without a contract from the PSL. Islamabad United/PSL announced the signing to the world via social media,” it said.
Humphries further urged the PCB to gracefully withdraw the ban and accept this situation risen out of an administrative error at their end.
Muzarabani was taken by Islamabad as a replacement for West Indian pacer Shamar Joseph for USD 40,000.
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Rupee hits record low of 96.14/USD, settles at fresh closing low of 95.86/USD
Mumbai (PTI): The Indian rupee crashed below the 96/USD mark on Friday before closing at an all-time low of 95.86 (provisional) against the US dollar as elevated crude oil prices and inflation concerns added to the downside pressure on the rupee.
Rupee has registered over 6 per cent losses so far this year, and in the past six trading sessions, it has depreciated nearly 2 per cent as Iran war risk escalation pushed crude oil prices higher. The dollar index moved northwards after strong US retail sales and stable labour market data reduced expectations of aggressive Federal Reserve rate cuts.
Forex traders said global uncertainties, relatively high valuations, and the lack of AI-led investment opportunities have weighed on capital flows.
Moreover, weak net FDI inflows are likely to exert pressure on the balance of payments, while rising crude oil prices stoke inflation worries.
At the interbank foreign exchange, the rupee opened at 95.86, then slumped to a record low of 96.14 in intraday trade, registering a fall of 50 paise from its previous close.
The USD/INR pair finally settled at 95.86 (provisional) against the US dollar, registering a fall of 22 paise from its previous close, helped by likely RBI intervention.
On Thursday, the rupee weakened to a fresh record low of 95.96 before closing with a marginal gain of 2 paise at 95.64 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 99.15, higher by 0.34 per cent.
Brent crude, the global oil benchmark, was trading up 3.14 per cent at USD 109.04 per barrel in futures trade.
On the domestic equity market front, Sensex fell 160.73 points to settle at 75,237.99, while Nifty declined 46.10 points to 23,643.50.
Foreign Institutional Investors turned net buyers, purchasing equities worth Rs 187.46 crore on Thursday, according to exchange data.
Meanwhile, the country's exports in April rose by 13.78 per cent to USD 43.56 billion despite global challenges, Commerce Secretary Rajesh Agrawal said on Friday.
Imports grew 10 per cent year-on-year to USD 71.94 billion in April. The trade deficit during the month stood at USD 28.38 billion.
"We expect the rupee to trade with a negative bias on elevated crude oil prices and inflation concerns. Strong dollar and FII outflows may also weigh on the rupee. However, any intervention by the RBI and hiking of import duty on gold and silver may support the rupee at lower levels. USD-INR spot price is expected to trade in a range of 95.60 to 96.20," said Anuj Choudhary, Research analyst at Mirae Asset ShareKhan.
Chinese President Xi Jinping and his US counterpart Donald Trump on Friday hailed their talks as "historic" and "landmark", as the American leader wrapped up his three-day visit on a high note, but no deals on any contentious issues were announced.
Both Presidents, who held several rounds of talks covering a range of global issues, including the Iran war and bilateral trade frictions, concluded their discussions with a private meeting at Zhongnanhai, the well-guarded compound in Beijing where top leaders reside.
