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Services’ trade up by 5.77% in 1st Quarter, deficit narrows by 21.77%

trade

                ISLAMABAD, Nov 4 (APP): The export of various services witnessed a 5.77 percent increase during the first quarter of the current fiscal year compared to the corresponding months of last year.

According to the latest PBS data, Pakistan earned $1.906 billion from the export of services during July-September FY2024-25 as compared to services’ export of $1.802 billion in July-September FY2023-24, the Pakistan Bureau of Statistics (PBS) reported.

On the other hand, the services’ imports witnessed a decline of 3.35 percent during the months under review and were recorded at $2.605 billion as compared to the import of $2.695 billion in July-September FY2023-24.

Based on the figures, the services trade deficit shrank by 21.77 percent during the first quarter as compared to the corresponding months of the previous year. The services trade deficit was recorded at $698.85 million during the period under review as against a deficit of $893 million last year.

Meanwhile, on a year-on-year basis, the exports of services in September 2024 increased by 17.04 percent to $656.99 million from $561.36 million in September 2023.

On the other hand, the imports decreased by 3.99 percent going down from $918.91 million to $882.23 million, according to PBS data.

On a month-on-month basis, the export of services increased by 6.55 percent in September 2024 when compared to the exports of $616.59 million in August 2024.

The imports of services witnessed a decrease of 1.95 percent in September 2024 compared to imports of $899.76 million in August 2024, PBS reported.

It is pertinent to mention here that the merchandise exports from the country increased by 13.45 percent during the first four months of the current fiscal year as compared to the corresponding months of last year.

Exports during July-October (2024-25) were recorded at $10.880 billion against $9.590 billion during July-October (2023-24), according to PBS data.

On the other hand, imports into the country also went up by 5.17 percent growing from $16.977 billion last year to $17.854 billion during the first four months of the current year.

Based on the figures, the trade deficit during the months under review was recorded at $6.974 billion against the deficit of $7.387 billion last year, showing a decrease of 5.59 percent.

Harris vows Gaza peace, Trump tone darkens in final hours

Kamala

East Lansing, United States, Nov 4 (AFP/APP):Kamala Harris courted voters angered by the Gaza war while Donald Trump doubled down on violent rhetoric with a comment about journalists being shot as the tense US election campaign entered its final hours.
                  The Democratic vice president and the Republican former president frantically blitzed several swing states as they tried to win over the last holdouts with less than 36 hours left until polls open on Election Day on Tuesday.
                  Trump predicted a “landslide”, while Harris told a raucous rally in must-win Michigan that “we have momentum — it’s on our side.”
                  The 2024 race is going down to the wire, with more key states effectively tied at this point than in any comparable election. Over 77.6 million people have cast early votes, around half of the total ballots cast in 2020.
                  With the clock ticking, Harris, 60, spent the day in Michigan where she risks losing the critical support of a 200,000-strong Arab-American community that has denounced US handling of the Israel-Hamas war.
                  “As president, I will do everything in my power to end the war in Gaza,” Harris said at the start of her speech at Michigan State University, noting that there were leaders of the community present.

                  But the rest of the speech was upbeat, with Harris spending more time on urging people to get out and vote than on attacks on Trump.
                  “We got two days to get this done,” she said.
                  Earlier, Harris quoted scripture in a majority-Black church in Detroit, Michigan and urging Americans to look beyond Trump.
                  “Let us turn the page and write the next chapter of our history,” she said.
                  Trump on Sunday zigzagged through Pennsylvania, North Carolina and Georgia — the three biggest swing-state prizes in the Electoral College system that awards US states influence according to their population.
                  The 78-year-old Trump, the oldest major party candidate in US history, added to his increasingly dark rhetoric by musing to supporters in Lititz, Pennsylvania, that he wouldn’t mind if journalists were shot.
                  Discussing his near-miss assassination attempt against him in July, he said to laughter that to be hit again “somebody would have to shoot through the fake news — and I don’t mind that so much.”
                  Trump called Democrats “demonic” and, despite no evidence of any meaningful election cheating so far, claimed that Democrats in Pennsylvania “are fighting so hard to steal this damn thing.”
                  Adding to fears that he would not accept a defeat in 2024, Trump added that he “shouldn’t have left” the White House after he lost his 2020 reelection effort to Joe Biden.                  
                  Trump meanwhile said in Macon, Georgia, that he had asked vaccine-skeptic Robert F. Kennedy Jr, who dropped his own presidential bid to support Trump, to work on “women’s health” and “pesticides.”
                  His comments came a day after Kennedy caused consternation by saying that a Trump White House would order US water systems to remove fluoride from public water supplies.
                  Later in another rambling speech in Kinston, North Carolina Trump said “we’re going to have on Tuesday a landslide that’s too big to rig.”
                  The polls however show that the result is likely to be historically tight.
                  A final New York Times/Siena poll Sunday flagged incremental changes in swing states, but the results from all seven remained within the margin of error.
                  Harris got a boost Saturday as the final Des Moines Register poll for Iowa — seen as a highly credible test of wider public sentiment — showed a stunning turnaround, with Harris ahead in a state won easily by Trump in 2016 and 2020.
                  In the last hours, both candidates are desperately trying to shore up their bases, and win over any undecided voters.
                  Pollsters have noted an erosion in Black support for Harris.
                  But with abortion rights a top voter concern, her campaign has hailed the large proportion of women turning out among early voters.

Diwali celebrations at the Indian High Commission

 ISLAMABAD: /DNA/ – The Diwali celebrations at the Indian High Commission in  Islamabad were marked by a gathering that featured a blend of cultural diplomacy and festive spirit. US Ambassador Donald Blome, Dutch Ambassador Henny de Vries, Italian Ambassador Marilina Armellin, and Charge d’Affaires Geetika Srivastava of the Indian High Commission led the festivities by lighting candles, symbolizing the traditional Diwali ritual of dispelling darkness with light.

Event tickets

The event attracted a diverse array of guests from diplomatic circles, Pakistani officials, expatriates, and local community members, reflecting Diwali’s universal appeal as a festival that celebrates unity, peace, and joy. The attendees were treated to Indian cultural elements, including traditional music and festive decorations, showcasing India’s rich cultural heritage. Diwali celebrations like these are a recurring part of the Indian High Commission’s outreach, promoting cross-cultural understanding and fostering positive relations between India, Pakistan, and the international community.

The annual Diwali event is one among various cultural programs organized by the High Commission, underlining the role of cultural diplomacy in bringing communities together and creating a shared space for celebration across borders.

Cummins lifts Australia to edge spirited Pakistan ODI series opener

Australia

MELBOURNE: Skipper Pat Cummins played a gutsy knock under pressure and steered Australia to a hard-fought two-wicket victory over Pakistan in the first ODI at the Melbourne Cricket Ground (MCG) here on Monday.

Chasing 204, the home side had to make hard yards to chase down the total in 33.3 overs.

Put into bat first, Pakistan’s batting unit struggled against a ruthless Australian bowling attack and could accumulate 203 before getting bundled out in the 47th over.

The visitors got off to a shaky start to their innings as they lost debutant opener Saim Ayub (1) in the third over with just three runs on the board.

His opening partner Abdullah Shafique tasted similar fate as he too, was dismissed by Mitchell Starc, resulting in Pakistan slipping to 24/2 in 6.4 overs.

Following the early hiccup, skipper Mohammad Rizwan and Babar Azam forged a fighting partnership.

The duo appeared to have settled down, having added 39 runs for the third wicket.

But until Pat Cummins’ decision to introduce spin turned the tide in Australia’s favour as Adam Zampa got rid of star batter Babar Azam in the 18th over.

Babar scored a cautious 37 off 44 deliveries with the help of four boundaries.

His dismissal prompted a middle-order collapse as Pakistan lost three more wickets in quick succession, including that of their captain Rizwan, and thus slipped to 117/6 in 31.4 overs.

Rizwan remained the top-scorer for Pakistan with a 71-ball 44, which featured two fours and a six.

Debutant middle-order batter Muhammad Irfan Khan then put together a crucial partnership with Shaheen Shah Afridi.

The pair added 31 runs at a brisk pace amid their stand, which lasted with Shaheen’s dismissal off Starc in the 37th over.

Irfan was then involved in another crucial partnership when he, alongside Naseem Shah, added 27 runs for the eighth wicket.

The debutant, however, had an agonizing end to his brilliant innings as he got run out after scoring 22 off 35 deliveries.

Naseem Shah then launched an onslaught on the Australian bowlers and gave a late push to Pakistan’s total, courtesy of his quickfire cameo.

He smashed one four and four sixes on his way to a 39-ball 40.

Starc led the way for Australia with three wickets, followed by Adam Zampa and Pat Cummins with two each. Sean Abbott and Marnus Labuschagne made one scalp apiece.

China to hash out stimulus plan with US elections in its sights

China to hash out stimulus plan with US elections in its sights

                Beijing, Nov 4 (AFP/APP): China’s top lawmakers gathered Monday to hash out a major stimulus package that analysts say could grow even bigger if former US president Donald Trump wins the White House this week.

                  Beijing has in recent months heeded calls to step up support for the economy after years of inaction, announcing a raft of measures including rate cuts and the easing of some home buying restrictions.

                  But they have refrained from unveiling a figure for the long-awaited stimulus, disappointing investors after a market rally fizzled when officials repeatedly failed to commit to a top line.

                  Analysts now hope this number could emerge from this week’s meeting of the Standing Committee of National People’s Congress, the top body of China’s rubber stamp parliament and headed by number three official Zhao Leji.

                  The standing committee reviews and approves all legislation, including allocating funds out of China’s budget.

                  The session kicked off on Monday with discussion of a draft revision to China’s Arbitration Law, state news agency Xinhua said.

                  “We are expecting more details on the proposals to be passed,” said Heron Lim of Moody’s Analytics, including “how this extra funding would be allocated to address the near-term economic issues”.

                  Nomura economists expect lawmakers this week to approve around a trillion yuan ($140 billion) in extra budget — mostly for indebted local governments.

                  Analysts also expect Beijing to approve a one-off one trillion yuan for banks, aimed at writing off non-performing loans over the past four years.

                  “A lot of money will go to cover losses,” added Natixis’ Alicia Garcia Herrero.

                  “It’s not really a growth push.”

                  Concrete measures are expected to be announced when the meeting wraps up on Friday — in time for Beijing to take stock of results of presidential elections in the United States.

                  “We believe the US election results will have some impact on the size of Beijing’s stimulus package,” said Ting Lu, Nomura’s Chief China Economist, in a research note.

                  Both candidates in the race have pledged to get tougher on Beijing, with Trump promising tariffs of 60 percent on all Chinese goods coming into the country.

                  Nomura economists expect Beijing to adjust the size of its stimulus depending on the outcome.

                  “In our view, the size of China’s fiscal stimulus package would be around 10 to 20 percent bigger under a Trump win than under the scenario of a (Kamala) Harris win,” Lu wrote.

                  But he said that “the major challenges for Beijing emanate from within rather than outside”.

                  China is battling sluggish domestic consumption, a persistent crisis in the property sector and soaring government debt — all of which threaten Beijing’s official growth target of five percent for this year.

                  The property sector was long a key driver of growth, but is now mired in a sea of debt.

                  Average prices of new residential property ticked up slightly last month, according to a survey of 100 cities by independent researcher China Index Academy.

                  But China’s cities and provinces are still on the hook for a trove of unfinished and unsold housing units, and repurchasing them could cost Beijing up to 3.3 trillion yuan, according to Natixis estimates.

                  Prolonged housing woes continue to lead to weak consumer consumption, according to Lim of Moody’s Analytics.

                  “The average Chinese consumer with existing mortgages does not feel their wealth is increasing,” he said.

                  The issue of how local governments manage debt will also be examined at the NPC meeting this week.

                  Huang Haihua, spokesman for the NPC standing committee’s legislative affairs commission, said at a briefing Friday that authorities at and above the county level will be required to report their debt situation to the NPC each year.

                  But China’s economic woes run deeper than local mismanagement and empty homes.

                  “The overall economy is losing productivity out of basically misallocated savings,” said Garcia Herrero, referring to issues within China’s industrial policy spending, including extensive subsidies.

                  “They need to really change all of that,” she said.

Indonesia volcano eruption kills 6, sets villages aflame

Indonesia

                East Flores, Indonesia, Nov 4 (AFP/APP): A volcano in eastern Indonesia erupted overnight killing at least six people as it spewed fireballs and ash on surrounding villages, officials said Monday, as they raised its alert status to the highest level.

                  Mount Lewotobi Laki-Laki, a 1,703-metre (5,587-feet) twin volcano located on the popular tourist island of Flores, first erupted shortly before midnight, forcing authorities to evacuate several villages.

                  “Six fatalities have been confirmed,” Abdul Muhari, spokesman of the country’s disaster mitigation agency (BNPB), told Kompas TV.

                  Footage received by AFP showed villages near the volcano covered by thick ash, with some areas on fire.

                  An AFP journalist near the volcano said five villages evacuated, affecting thousands of residents.

                  Some wooden houses caught fire, and the ground was pockmarked with holes caused by flying molten rocks.

                  The crater erupted just before midnight and then again at 1:27 am (1727 GMT Sunday) and 2:48 am, the country’s volcanology agency said.

                  It raised the alert level to the highest and told locals and tourists not to carry out activities within a seven-kilometre (4.3-mile) radius of the crater.

                  “There has been a significant increase in volcanic activity on Mount Lewotobi Laki-laki,” it said in a press release Monday.

                  It released images that showed the roofs of houses collapsed after they were hit by volcanic rocks, and locals sheltering in communal buildings.

                  – Ash rain –

                  The volcanology agency warned there was a potential for rain-induced lava floods and told locals to wear masks to avoid the effects of volcanic ash.

                  There were a series of eruptions at the volcano last week, the biggest on Thursday, sending a column of ash 2,000 metres (6,500 feet) into the sky.

                  The mountain had several major eruptions in January, prompting authorities at the time to raise the alert status to the highest level and evacuate at least 2,000 residents.

                  Indonesia, a vast archipelago nation, experiences frequent eruptions due to its position on the Pacific “Ring of Fire”, an area of intense volcanic and seismic activity.

                  In December last year, an eruption at one of the country’s most active volcanoes, Mount Marapi in West Sumatra, killed at least 24 climbers, most of them university students.

                  And in May, more than 60 people died after heavy rains washed volcanic material from Marapi into residential areas, sweeping away homes.

                  That month Mount Ruang in North Sulawesi province erupted more than half a dozen times, forcing thousands of residents of nearby islands to evacuate.

Chinese slimmers trim down at weight-loss camps

Chinese slimmers

                Chengdu, China, Nov 4 (AFP/APP): Yang Chi’ao takes her place next to gym equipment and waits to be called by an instructor at a weight-loss camp in China, where over half of adults are overweight.

                  Boasting strict daily exercise regimens, mandatory trips to the scale and rigid surveillance to guard against snacking, the facilities have popped up across China as it grapples with a growing obesity crisis.

                  They have also sparked controversy — last year an influencer died while attending a facility in northern China as part of efforts to shed more than 100 kilograms, local media said.

                  Yang, 23, quit her teaching job earlier this year and signed up for a weight-loss camp on the outskirts of southwestern megacity Chengdu, and since then has followed a rigorous regime of diet and exercise.

                  She was one of around 60 slimmers who turned out early to train, a large poster looming overhead extolling their goal: “Become thin! Become beautiful! Become refined!”

                  Among the activities at the Chengdu camp are long brisk walks — with instructors keeping an eye on participants tempted to stop for snacks at roadside carts.

                  “There will definitely be people who secretly want to buy food,” Yang told AFP, walking with a steady stride.

                  “I’ve had the idea but never succeeded because the coaches keep following me.”

                  Yang said she had lost nearly 30 kilograms (66 pounds) since arriving in July at 114 kg.

                  And while some fellow participants struggled with the 10-kilometre hike, she said her “stamina has probably improved”.

                  “I might have felt very tired a month or two earlier,” she said.

                  Yang’s parents pay around 3000 yuan ($421) a month for her stay at the camp, where she shares a room with three others.

                  She lives nearby but says that participants are not allowed to leave from Monday to Saturday — unless under “special circumstances”.

                  “No one sneaks out because there is surveillance everywhere, and if you get caught, you’ll be punished,” she said, with disciplinary measures including running for five kilometres or doing burpees.

                  The country has ranked obesity the sixth leading risk factor for death and disability and ramped up efforts to tackle the issue.

                  Beijing’s National Health Commission has said that “the prevalence of overweight and obese people in China has continued to rise”.

                  That has sparked a fitness craze — exemplified by “YOLO”, a film about an overweight woman who takes up boxing to regain her self-esteem, that topped China’s box office during Lunar New Year this year.

                  Jia Ling, who directed the film and played the leading role, reportedly lost over 50 kilograms during filming, with her physical transformation going viral.

                  This upward trend may be linked to increased disposable income and higher spending on food, often high in calories and rich in oil, said Charles Poon, medical director at Raffles Hospital Beijing.

                  Additionally, many people are facing more demanding work environments.

                  “Jobs are getting more complicated… and so a lot of stress is involved,” said Poon, adding that this could lead to hormonal imbalance and contribute to obesity.

                  In June, China launched a three-year campaign to address obesity, recommending actions such as reducing foods high in salt, sugar and fat in school canteens and encouraging employers to support staff fitness.

                  The country will also ensure that primary and middle school students engage in at least two hours of physical activities a day.

                  For camps like the one in Chengdu, experts warn of the risks.

                  Pan Wang, an associate professor in Chinese and Asian studies at the University of New South Wales in Australia, said the government should monitor and restrict workouts and diets which could be potentially dangerous.

                  “The beauty industry is booming… (and) the concept of ‘thinness’ has translated into a kind of social capital,” Wang said.

                  “Businesses like weight-loss camps can profit from it.”

                  At another camp activity, music blared from speakers as participants threw punches and jabbed in a boxing routine, their faces dripping with sweat.

                  Trainer Chen Hang shouted instructions from a stage while demonstrating the moves.

                  “The reason they came to a weight loss training camp is because they can’t control their diet outside… and they can’t get themselves moving,” Chen told AFP after the workout.

                  The number of people coming to the facility was “continuously increasing”, he added.

                  Yang posts daily videos on Chinese social media apps Douyin and Xiaohongshu — China’s equivalent of TikTok and Instagram — which she said helps keep her accountable.

                  “If I don’t get up every day to shoot, I will have no content to post, and everyone will know I’m slacking off,” said Yang, who plans to stay in the camp until at least the end of March next year.

                  One of her roommates, Zhao Yuyang, discovered her videos online and was inspired to join the camp.

                  The 30-year-old has lost more than five kilograms in the past month, but is in no rush to shed more weight.

                  “You can’t become a fat man in one bite, so losing weight has to be done slowly,” Zhao told AFP during an evening gym session.

                  “It takes time.”

Six dead after volcano erupts in eastern Indonesia

Indonesia

                Jakarta, Nov 4 (AFP/APP): At least six people died after a volcano in eastern Indonesia erupted several times overnight, officials said Monday, raising the alert level to the highest of a four-tiered system.

                  Mount Lewotobi Laki-Laki, located on the popular tourist island of Flores, spewed a tower of ash and lava on nearby villages that were forced to evacuate.

                  “According to our coordination with the local authorities, six fatalities have been confirmed,” Abdul Muhari, spokesman of the country’s disaster management agency said Monday in an interview on Kompas TV.

                  Footage received by AFP showed villages near the volcano covered by thick ash, with some areas on fire.

                  The country’s volcanology agency raised the alert level to the highest mark, and told locals and tourists not to carry out activities within a seven-kilometre (4.3-mile) radius of the crater.

                  “There has been a significant increase in volcanic activity on Mount Lewotobi Laki-laki,” it said in a press release Monday.

                  It warned there was a potential for rain-induced lava floods and told locals to wear masks to avoid the effects of volcanic ash.

                  The mountain had several major eruptions in January, prompting authorities at the time to raise the alert status to the highest level and evacuate at least 2,000 residents.

Appeal begins for Vietnam death row tycoon

Vietnam

                Ho Chi Minh City, Nov 4 (AFP/APP): The appeal of a Vietnamese property tycoon sentenced to death for fraud totalling $27 billion began on Monday after she pleaded for a more “lenient and humane” sentence.

                  Property developer Truong My Lan, 68, was convicted earlier this year of swindling cash from Saigon Commercial Bank (SCB) — which prosecutors said she controlled — and given the death sentence in one of the biggest corruption cases in history.

                  Tens of thousands of people who had invested their savings in the bank lost money, shocking the communist nation and prompting rare protests from the victims.

                  Lan, wearing a blue shirt, was brought to court in Ho Chi Minh City on Monday under tight security.

                  The court will review Lan’s request for a reduced sentence, along with that of 47 other defendants, during a three-week appeal attended by 100 lawyers, state media said.

                  Lan has also asked to be let off a $26.5 milllion court fee.

                  As the hearing began, around a dozen people staged a small protest outside an SCB branch in Hanoi, demanding the victims be repaid.

                  In her handwritten appeal of more than five pages seen by AFP, Lan said that the death sentence was “too severe and harsh”.

                  She asked the court to consider a more “lenient and humane approach”.

                  “Because of my passion for business and the desire to build and contribute through creating world-class projects for Vietnam, I have traded and sacrificed a lot of happiness for myself and my family,” the appeal stated.

                  Lan said she had suffered due to the pressure of negative public opinion.

                  “Every night I still feel tormented and wonder why my family and I are in this situation,” Lan said.

                  The appeal comes after Lan was convicted of money laundering and jailed for life in a separate case last month.

                  During her first trial in April, Lan was found guilty of embezzling $12.5 billion, but prosecutors said the total damages caused by the scam amounted to $27 billion — equivalent to around six percent of the country’s 2023 GDP.

                  The court ordered Lan to pay almost the entire damages sum in compensation.

                  One of the victims, Le Hang, 84, told AFP that even though she lost more than half a million dollars through the fraud, she did not want Lan to die.

                  “She must live to fix what she has done and repay people like me,” said Hang, who has regularly attended protests in front of the Ho Chi Minh City court.

                  “I hope she survives.”

                  Eighty-five others were also sentenced on charges ranging from bribery and abuse of power to appropriation and violations of banking law.

                  They were arrested as part of a national corruption crackdown dubbed the “burning furnace” that has swept up numerous officials and members of Vietnam’s business elite.

                  Between 2012 and 2022, Lan used nearly 1,300 fake loan applications to withdraw money from SCB, in which she owned a 90 percent stake, the court found.

                  Her driver transported the equivalent of more than $4.4 billion in cash from SCB’s headquarters in Ho Chi Minh City to her nearby home and the head offices of her real estate development group Van Thinh Phat, state media reported, citing the police investigation.

‘Race that stops a nation’: Buckaroo, Vauban favourites for Melbourne Cup

Melbourne Cup

                Melbourne, Nov 4 (AFP/APP): Buckaroo and Vauban head into Tuesday’s Melbourne Cup as joint favourites in Australia’s “race that stops a nation”, where there will be a record four women jockeys.

                  First run in 1861, the punishing 3,200-metre (two-mile) handicap at Flemington is regarded as the ultimate test of stamina and staying power.

                  With Aus$8 million (US$5.25 million) at stake, the winner of the 24-strong field will bank Aus$4.4 million and instantly become a household name in Australia, where the race is a cultural institution.

                  Carrying 54.5kg, the Chris Waller-trained Buckaroo finished second at the Caulfield Cup over 2,400 metres this year, on the back of two wins earlier in the season.

                  Drawn out wide in barrier 21, the six-year-old gelding has again been entrusted to Brazilian Joao Moreira — twice a runner-up — with its odds shortening after red-hot favourite Via Sistina was axed last week.

                  Also trained by Waller, Via Sistina stormed to victory by eight lengths in the Cox Plate at Moonee Valley last month, propelling the mare through the rankings.

                  But owner Yulong Investments has opted to rest her.

                  “Buckaroo is the form horse,” said Waller, who trained 2021 Melbourne Cup winner Verry Elleegant and has four starters in Tuesday’s race.

                  “He has come through his Caulfield Cup run really well.” 

                  Another highly rated contender, Irish import Jan Brueghel, was scratched after failing a vet inspection, reportedly due to weakness in a lower leg.

                  The four-year-old had won all four career starts since arriving in Australia a month ago and miffed trainer Aidan O’Brien blasted the decision as “ridiculous”.

                  – Depth –

                  With those two out, top-weight Vauban (55.5kg) firmed as joint favourite after drawing barrier 11 and with top English jockey William Buick on the reins.

                  Foaled in France but Irish trained, Vauban jetted into Australia last year as a hot tip to win but failed to deliver, finishing 14th and struggling in the heat.

                  Trainer Willie Mullins is nevertheless confident after the seven-year-old’s second place at the Irish St Leger in September behind superstar stayer Kyprios.

                  “As we know, you just don’t arrive and pick up the prize,” Mullins told reporters.

                  “Last year a lot of people had us marked down for that, but I think our horses’ preparations this year have been good.

                  “Vauban’s form has been very good all season and he brings great depth of form into the race.”

                  Ace jockey Mark Zahra has ridden the last two Melbourne Cup winners — Without a Fight and Gold Trip — and will again be in the hunt, this time on five-year-old stallion Circle of Fire, currently third favourite.

                  But he has his work cut out after drawing the widest barrier possible at 24.

                  “Twenty-four is ordinary… but Mark’s flying so it won’t matter,” said trainer Ciaron Maher.

                  Kerrin McEvoy is looking for a fourth win, steering Absurde, another from the Mullins stable.

                  Four women jockeys are in the race, more than ever before.

                  Jamie Kah will saddle up Okita Soushi alongside Rachel King (The Map), Winona Costin (Positivity) and British star Hollie Doyle (Sea King).

                  Michelle Payne is the only woman rider to win the Melbourne Cup after she steered Prince of Penzance to victory in 2015.

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