KARACHI: The rupee made a recovery for the third consecutive day against the dollar on Friday, dealers said. The local currency is continuously gaining value after the announcement of the Saudi financial assistance to Pakistan on October 26, 2021. The exchange rate ended with a gain of 61 paisas in the rupee value to close … Read more
BRUSSELS: Eurozone inflation surged to a record rate this month as high energy prices jumped and supply woes bit, Eurostat said on Friday, casting a cloud over the recovery from the coronavirus pandemic. Year-on-year inflation hit 4.1 per cent in October, more than double the European Central Bank’s (ECB) target and tying the record rate last … Read more
KARACHI: The Hub Power and China Power International have executed an agreement to form a joint venture company to tap the power plants’ operation and maintenance (O&M) services market, with its first client being the China Power Hub Generation Company (CPHGC), a 2x660MW coal-fired plant located in Hub. “The Hub Power Holdings Limited (HPHL), a … Read more
LAHORE: The outlawed Tehreek-e-Labbaik Pakistan (TLP) resumed its march towards the federal capital from Gujranwala after offering Friday prayers near the General Bus Stand of the city. According to sources, thousands of activists travelling in cars, buses and on foot have resumed their journey towards Islamabad. The participants were served food and blankets by local … Read more
KARACHI: The State Bank of Pakistan (SBP) has imposed monetary penalty of Rs465 million on four banks for violating regulatory instructions, including anti-money laundering and countering financing terrorism. The SBP imposed the penalty on the banks during the quarter ended September 30, 2021. The central bank imposed the penalty of Rs280.51 million on the National … Read more
We’ve moved past the hate for New York’s self-absorbed literary dreamscape in season 1, and beyond the loathsome organic-produce infatuated wasteland of conceited privilege that was Los Angeles in season 2, for now we’ve arrived at a whole new fresh hell with Joe Goldberg in his sociopathic adventure; The suburbs. Inhabited with gluten-free obsessed one-percenters, … Read more
Ayesha Omar is one of the fashion divas who makes heads turn left and right, wherever she goes. Many of us may know her as her famous TV character, Khubsoorat, the name of which is perfectly on brand for she looks eloquent and fashionable almost all the time. The Pakistani actress initially started off her … Read more
SHANGHAI: Chinese telecom giant Huawei said on Friday that its revenue plunged by a third in the first three quarters of the year, as it continued to struggle under the US sanctions that have hit its smartphone sales. Huawei has been caught in the crossfire of a US-China trade and technology rivalry after the government … Read more
PARIS: The French economy, Europe’s second-biggest, expanded strongly again in the third quarter, powered by a sharp increase in the household spending and the reopening of key sectors from the coronavirus lockdowns, official data showed on Friday. France’s gross domestic product expanded 3 per cent in the period from July through September, compared with the … Read more
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has once again warned the general public against investing in ponzi and pyramid schemes, multi-level marketing (MLM) and other online schemes, that promise high rates of return, a statement said on Thursday. The SECP has noticed that a company, “International Business Solutions (Private) Limited” is prima … Read more
KARACHI: The Pakistan stocks continued bullish trend on Thursday, amid appreciation in the rupee value against the dollar, dealers said. Ahsan Mehanti at Arif Habib Corp said that the stocks closed higher on the rupee recovery, amid Saudi inflows and the finance minister’s assurance over revival of the IMF programme. “Midsession pressure remained on concerns … Read more
KARACHI: The Anti-Terrorism Court-VII (ATC-VII) on Thursday postponed the pronouncement of its verdict in the Parveen Rehman murder case at the eleventh hour. The decision was made after the new prosecutor of the case filed an application requesting the court allow him to file an amended charge against the accused. Renowned human rights activist and … Read more
LAHORE: National Accountability Bureau (NAB) Chairman former Justice Javed Iqbal on Thursday issued transfer orders of as many as 14 senior officials of the anti-corruption watchdog. According to a NAB spokesman, the chairman has issued transfer orders of six deputy directors and eight assistant directors. According to details, Deputy Director Aslam Pervez Abro from NAB … Read more
WASHINGTON: The US economic expansion slowed dramatically in the third quarter to an annual rate of just 2 per cent, as consumer spending slowed amid resurgent Covid-19 infections, an official of the government said on Thursday. The spread of the Delta variant of Covid-19 over the summer combined with renewed restrictions and global supply snags … Read more
KARACHI: Qasim Terminal Holding, a subsidiary of Qatar Energy, plans to acquire a stake in Energas Terminal Pvt, Bloomberg reported on Thursday. Energas’ terminal will be the country’s largest LNG terminal with a capacity to import one billion cubic feet of gas/year. Pakistan currently operates two LNG terminals, while Energas and Japan’s Mitsubishi Corp. are … Read more
ISLAMABAD: The Ministry of Finance has said that revival of domestic economic activities remained on track; however, the risk of inflationary pressure persists on account of both demand and supply conditions. The Ministry of Finance in a Monthly Economic Update and Outlook for October 2021 said that the unprecedented increase in the global commodity prices … Read more
ISLAMABAD: The World Bank has said that due to strengthened domestic demand, imports have grown much higher than exports in recent months, leading to a large trade deficit. The World Bank in a report released on Thursday said to sustain strong economic growth, Pakistan needs to increase private investment and export more. In examining the … Read more
KARACHI: Pakistan’s liquid foreign exchange reserves fell $393 million to $23.934 billion by the week ended October 22, 2021, the central bank said on Thursday. The foreign exchange reserves of the country stood at $24.327 billion by the week ended October 15, 2021. The official foreign exchange reserves of the State Bank of Pakistan (SBP) … Read more
The armed forces of the country reaffirmed on Wednesday that they are ready to “respond to the entire spectrum of threat” emanating in the region, said the military’s media wing. The Inter Services Public Relations (ISPR) said that a meeting of the chairman joint chiefs of staff committee (CJCSC) and all service chiefs was held … Read more
KARACHI: Karachi’s consumers are flocking to markets selling second-hand clothes for what is expected to be a bumper year for the country’s largest city. Reportedly, the sellers at these markets had anticipated that even those who were previously not using second-hand clothes will now turn toward used clothing due to rising inflation and unprecedented price … Read more
KARACHI: Dr Qaisar Sajjad is an ENT and head and neck surgeon and secretary general of Pakistan Medical Association (Centre). He is also an elected member of the governing body of the Arts Council and head of Arts Council’s Medical and Social Welfare committee. He completed his MBBS from Sindh Medical College. He is known … Read more
NEW DELHI: Indian Prime Minister Narendra Modi will meet Pope Francis in Rome for the first time this weekend when he visits for the G20 summit, officials said Thursday, in what could be a thorny encounter. Activists say that religious minorities in Hindu-majority India have faced increased levels of discrimination and violence since Modi’s Hindu … Read more
GAZA CITY: Hamas that rules the Gaza Strip announced Thursday it had sentenced six Palestinian “informants” to death for collaborating with Israel. The Hamas military court said it had issued sentences “against a number of informants, including six death sentences, other sentences varying between life terms and temporary hard labour, and one acquittal.” Hamas takes … Read more
LORIENT, France, Oct 28, 2021 (AFP) – France is ready to hold talks with Britain to resolve a deepening dispute over fishing rights as long as London meets its obligations under post-Brexit agreements, Prime Minister Jean Castex said Thursday. France has threatened to disrupt trade with Britain from next week if its boats are not … Read more
MADRID: Spanish consumer prices rose at their fastest pace since 1992 in October on the back of higher energy prices, official data showed on Thursday. Inflation climbed year on year by 5.5 per cent, accelerating from a 4 per cent increase in September, national statistics institute INE said. That is its fastest pace in 29 … Read more
LONDON: British bank Lloyds on Thursday announced that its net profit had more than doubled in the third quarter to £1.6 billion ($2.2 billion), driven by the improved economic outlook. The bank said it expected an improved net interest margin as well as to claw back money set aside to deal with the cost of … Read more
KARACHI: The Federal Board of Revenue (FBR) has announced a waiver of penal surcharge on overstayed goods at the warehouses. The FBR issued an SRO 1399 (I)/2021 to implement the decision. It decided to remit the penal surcharge in the case that goods are cleared from the warehouse within 30 days, starting from the date … Read more
KARACHI: The rupee continued to make recovery and gained 52 paisas against the dollar on the second straight day on Thursday, dealers said. The exchange rate ended at Rs172.26 against the greenback from the previous day’s closing of Rs172.78 in the interbank foreign exchange market. The local currency has witnessed a gain of Rs3.01, or … Read more
