The Pakistani rupee gained Rs2.38 against the US dollar on Thursday — a day after the International Monetary Fund approved a $3 billion loan agreement for Pakistan, unlocking crucial funding for the troubled economy. The local currency was being traded at Rs275.10 at 10:00am, according to data shared by the Exchange Companies Association of Pakistan (ECAP). The greenback closed …
WASHINGTON: After months of efforts, Pakistan finally sold a historic building — vacant since 2003 — in the US capital for $7.1 million, it emerged on Thursday. The property has been purchased by a Pakistani businessman named Hafeez Khan. The government of the District of Columbia had downgraded the property classification of the Pakistan Embassy-owned building, which was up for …
ISLAMABAD: The Parliamentary Committee on Electoral Reforms has expedited the work on the amendments to the election laws by examining 73 rectification proposals presented before it, The News reported. The panel has reportedly decided to finalise the recommendations by the next week and get the reforms to the Election Act approved by both houses of parliament before the end of the tenure …
KARACHI, July 13 (EW): The Economist Intelligence Unit (EIU) has ranked Pakistan’s largest city among the top five ‘least livable’ urban centres in the world. On the EIU’s Global Livalibity Index 2023,Karachi is ranked 169th out of a total of 173 cities. Only Lagos, Algiers, Tripoli and Damascus are ranked lower than Karachi. Incidentally, Karachi is the only city …
Four Pakistan Army soldiers were martyred while five others were critically injured after militants launched a “dastardly attack” on the Zhob garrison in northern Balochistan during the early hours of Wednesday, the military’s media affairs wing said. In a statement, the Inter-Services Public Relations (ISPR) said that terrorists’ initial attempt “to sneak into the facility was checked by soldiers on …
NEW DELHI: Taiwanese electronics manufacturer Foxconn (2317.TW) announced on Monday that it has withdrawn from a joint venture with Indian conglomerate Vedanta (VDAN.NS), delivering a setback to Indian Prime Minister Narendra Modi’s chip-making ambitions. The timeline below outlines the key events since the signing of the $19.5 billion joint venture: Feb. 14, 2022: Foxconn partners with Vedanta to establish semiconductor manufacturing …
NEW YORK: Director Greta Gerwig recently commented on the clash between the highly anticipated films ‘Barbie’ and ‘Oppenheimer’ during the premiere of the live-action adaptation of Barbie in Los Angeles. As both star-studded movies are set to release on July 21, Gerwig, who directed ‘Barbie’ and co-wrote it with Noah Baumbach, acknowledged the emerging rivalry between the two productions. During …
The 47-member United Nations Human Rights Council on Wednesday approved a Pakistan-backed resolution on religious hatred in the wake of the burning of the Holy Quran in Sweden. Major Western powers — the United States, European Union, and the United Kingdom — opposed the resolution, claiming it was against their views on human rights and freedom of expression. Pakistan …
ISLAMABAD, July 12 (EW): After an Israeli representative issued a harsh statement against Pakistan’s human rights record a day earlier, Foreign Office spokesperson Mumtaz Zehra Baloch termed it as a politically-motivated remark, adding that Pakistan can do without Israel’s advice on the protection of human rights. “Israel’s politically-motivated statement is fundamentally at variance with the otherwise positive tone of …
BEIJING, Jul.12 (INP): The 12th Special Joint Cooperation Committee (JCC) meeting, held here, resolved to build upon the foundation laid in the last 10 years and make the next decade glorious. Professor Ahsan Iqbal, the Federal Minister for Planning, Development & Special Initiatives, co-chaired the 12th (Special) JCC of the China Pakistan Economic Corridor (CPEC) alongside Mr. Cong Liang, …
