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dollars

FIA gears for grand operation against dollar hoarding

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dollar crackdown

KARACHI: The Federal Investigation Agency (FIA) and other agencies have geared for a crackdown against dollar smuggling and hoarding in the country to reign the price of foreign currency. The FIA, State Bank of Pakistan (SBP), and sensitive institutions are set to launch a grand operation against the hoarding of dollars. The authorities have prepared … Read more

Gold price further increases in country  

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increases
  • The price of one tola of gold is Rs 225,300.
  • The price of 10 grams of gold is 193,158.
  • The price of gold in world decreased by 6 dollars.

KARACHI: The gold price increased by Rs 300 in the country here on Friday.

According to All Pakistan Gems and Jewelers Association, the price of one tola of gold in the country is Rs 225,300 after an increase of Rs 300.

The price of 10 grams of gold is 193,158 with an increase of Rs 257.

The price of gold in the world market decreased by 6 dollars to 1894 dollars per ounce.

[embedpost slug=”gold-price-up-by-rs-1200-per-tola”]

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Dar denies govt considering access to commercial banks forex

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Ishaq Dar

Ishaq Dar denied any such move is under consideration He said dollars in commercial banks are “property of the people” He said some “vested elements” gave his comments a deliberate twist ISLAMABAD: Minister for Finance and Revenue Ishaq Dar said the government was not considering access to foreign exchange reserves held with the commercial banks. … Read more

Unisame slams banks denial to return dollars to accountholders

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Unisame dollars

KARACHI: The Union of Small and Medium Enterprises (Unisame) has invited the attention of the State Bank of Pakistan (SBP) towards the commercial banks, which are not returning dollars deposited in the foreign currency accounts, causing hardships to the customers, a statement said on Wednesday. The depositors have kept the dollars in their saving accounts … Read more

Rupee back on downward stream

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Rupee

KARACHI: The Pakistani rupee fell for the second consecutive session against the dollar on Thursday, owing to the absence of economic fundamentals, hitting investors’ confidence, dealers said. The exchange rate witnessed a loss of 50 paisas against the dollar to reach Rs218.38 from the previous day’s closing of Rs217.88 in the interbank foreign exchange market. … Read more

World stocks rally, dollar dips as investors weigh spending data, inflation scares

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investors

Global markets firmer Chinese economy slowed sharply in Q2 U.S. yields, dollar pull back after Fed officials’ comments As investors decreased their expectations of an aggressive interest rate move by the Federal Reserve this month and as U.S. spending data outperformed estimates, global shares increased on Friday, the currency fell, and oil prices increased. As … Read more

Bayer’s argument to weedkiller is again rejected by the US Supreme Court

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weedkiller

The U.S. Supreme Court rejected another bid by Bayer AG (BAYGn.DE) to dismiss litigation alleging that its Roundup weedkiller causes cancer. The justices turned away a Bayer appeal and left in place a lower court decision upholding an $87 million judgment. Roundup-related lawsuits have dogged Bayer since it acquired the brand in 2018. An appeals … Read more

Ronaldo’s rape claim was dismissed due to his ‘bad-faith conduct’

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Ronaldo's

A Nevada woman has lost her bid in a US court to force Cristiano Ronaldo to pay millions of dollars. The woman claimed he raped her in Las Vegas in 2009. U.S. District Judge Jennifer Dorsey kicked the case out of court for bad-faith conduct A Nevada lady has lost her bid in a US … Read more

More shipwrecks are discovered around a sunken vessel with “billions of dollars in treasure”

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vessel

Off the coast of Colombia, new shipwrecks are discovered near a vessel with missing treasure worth billions of dollars. The country’s navy is performing underwater surveillance missions on the San Jose galleon. Two additional historic shipwrecks were discovered nearby. Off the coast of Colombia, new shipwrecks are discovered near a vessel with missing treasure worth … Read more

Bonds are falling and the currency is falling as interest rate hikes loom10-year Treasury yield hit 3.0580% early in the Asia session. The dollar added another 0.6% against the yen to touch 132.75. Ten-year gilt yields rose as far as 10.2 bps to a seven-year high of 2.256%.

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Bonds

10-year Treasury yield hit 3.0580% early in the Asia session. The dollar added another 0.6% against the yen to touch 132.75. Ten-year gilt yields rose as far as 10.2 bps to a seven-year high of 2.256%. Asia’s bonds edged lower on Tuesday, the yen hit a 20-year low and security markets faltered as financial backers … Read more

US ‘likely’ to scrap Russia debt payment exemption: Yellen

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Russia

According to the US Treasury Secretary, the US would likely terminate an exception that allows Moscow to pay its international debts using dollars kept in the country, putting Vladimir Putin’s country at risk of default. “When we first imposed sanctions on Russia, we created an exemption that would allow a period of time for an orderly … Read more

Rupee ascends against Dollar

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US dollar

The rupee on Friday acquired against the US dollar in early exchange subsequent to contacting a record low versus the American money on Thursday. The securities exchange benchmark lists Sensex and Nifty rose today. The forex market too followed the offer market as India’s rupee bounced back 17 paise to 77.33 on Friday morning. The … Read more

EU hikes military aid for Ukraine as Sweden edges to NATO membership

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Ukraine

As the crisis in Ukraine entered its 12th week, Europe offered another half billion dollars in military aid to Kyiv, and Sweden moved closer to joining NATO. At a meeting of the world’s most powerful democracies, European Union foreign policy chief Josep Borrell promised Ukraine an extra 500 million euros ($520 million), bringing the bloc’s … Read more

“The Ellen DeGeneres Show” to air its last episode on May 26

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show

Ellen DeGeneres is set to say goodbye to “The Ellen DeGeneres Show” on May 26. According to The Post, Ellen is reported to give out millions of dollars as a bonus to her employees. The Ellen DeGeneres Show will air its last episode on May 26. Read more: Ellen DeGeneres recalls on the show’s early … Read more

New Zealanders queue for petrol as price hikes

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new zealand

WELLINGTON – Cars, boats and gallon bottles, New Zealanders were filling every tank with fuel before another big price hike tipped at the weekend. Petrol prices have already jumped up dramatically over the past month, which saw national average price of 91 petrol increase 11.8 percent to 2.94 New Zealand dollars per litre, and 23.1 … Read more

Cuban tobacco yield up in smoke amid fertiliser shortages

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tobacco

VIÑALES, Cuba: Yurisniel Cabrera, 35, is a fourth-generation tobacco farmer, eking out a meager living from the leaves used to make Cuba’s fabled cigars. Clients can fork out more than $10 for a single cigar, but for his months of labor, Cabrera earned only a few hundred US dollars from last year’s harvest. This year, … Read more

Turkey wants gold savings to shore up ailing lira

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gold

ANKARA: Gold has a central place in Turkish customs from birth to weddings. As the country is battling economic woes and low foreign currency reserves, the authorities want to draw the yellow metal stored by citizens into the banking system. As Turkey’s annual inflation surged to a two-decade high of 48.7 per cent in January, … Read more

Firms targeting Brazil indigenous lands: report

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mining

RIO DE JANEIRO: Major mining companies are seeking to expand to currently protect the indigenous lands in the Amazon rainforest, bolstered by billions of dollars in financing from international banks and investment firms, a report found. Nine mining giants including Brazil’s Vale, Britain’s Anglo American and Canada’s Belo Sun have filed applications seeking authorisation to … Read more

Right on track

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cpec

ISLAMABAD: Prime Minister Imran Khan’s much-anticipated visit to Beijing has not only cleared the ambiguities over the viability of the China-Pakistan Economic Corridor (CPEC) projects, but also attracted investment worth billions of dollars in various sectors. During the visit, the two sides also chalked out a plan for CPEC’s Phase-II, which involves huge incentives for … Read more

Sri Lankan inflation hits record 14% as food crisis worsens

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sri lanka inflation

COLOMBO: Sri Lanka consumer prices shot up a record 14 per cent in December, surpassing a previous high of 11.1 from a month earlier, official figures showed on Saturday as food and fuel shortages worsened. Senior ministers warned parliament earlier in the week of a growing food crisis with rice harvests due in March expected … Read more

AT&T, Verizon agree to delay 5G implementation at some airports

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AT&T

NEW YORK: AT&T and Verizon agreed Tuesday to a partial delay in activating their 5G networks following an outcry from US airlines, who said the rollout could lead to travel chaos. President Joe Biden said the move would avert major disruptions, but at least one airline, Delta, warned of the potential for cancellations despite the … Read more

Global oil prices may control Pakistani rupee’s fate

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rupee

KARACHI: The Pakistan rupee’s stability is linked with the international oil prices and the demand for the dollars for export payments next week, as the foreign exchange reserves of the country is on the decline, analysts said. The international oil prices are on the rise for the last couple of days, while the external payments … Read more

Theranos verdict sends a chill through startups: analysts

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Theranos

SAN FRANCISCO: Fraud convictions this week for Theranos founder Elizabeth Holmes will send a chill through Silicon Valley entrepreneurs, insiders say, now they know there is the threat of jail for airy promises that come to nothing. But with billions of dollars washing around the tech industry in search of the next big thing, the … Read more

Sony to launch firm to explore making electric cars

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Sony

AS VEGAS: Electronics giant Sony unveiled Tuesday a new prototype of its Vision-S electric vehicle and announced the founding of a company to explore jumping into the rapidly growing market. The Japanese firm, better known for its TVs and video game consoles, will create the Sony Mobility subsidiary in spring 2022 as it weighs entering … Read more

UN Security Council adopts resolution to ease Afghan aid

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UN Security Council

UNITED NATIONS: The UN Security Council on Wednesday unanimously adopted a US-proposed resolution to help humanitarian aid reach desperate Afghans, while seeking to keep funds out of Taliban hands. The resolution, a first step by the UN after months of wrangling over how to avert a humanitarian catastrophe amid economic meltdown in Afghanistan, was welcomed by … Read more

Afghan currency slides, prices surge as economy worsens

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Afghan currency

HERAT: The value of Afghanistan’s currency is tumbling, exacerbating an already severe economic crisis and deepening poverty in a country where more than half the population already doesn’t have enough to eat, AP reported. The afghani lost more than 11 per cent of its value against the US dollar in the space of a day earlier this … Read more

Sri Lankan economy slumps in face of forex crisis

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Sri Lankan economy

COLOMBO: Sri Lanka’s economy shrank in the third quarter as a foreign exchange crisis wrecked its recovery from the coronavirus pandemic, official data showed on Thursday. The GDP contracted 1.5 per cent on-year in the three months to September, the department of census and statistics said, ending four consecutive quarters of growth. The island’s tourism-dependent economy … Read more

Turkish lira collapse piles misery on northern Syria

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Turkish lira

AL-BAB, Syria: Mohammed al-Debek, a schoolteacher in northern Syria, is on strike: the currency devaluation in neighbouring Turkey has slashed the value of his salary by two-thirds. His town of Al-Bab lies in a northern area of war-torn Syria that in recent years has turned into a de facto Turkish protectorate. Because the Turkish lira is … Read more

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