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Karachi: Pakistan’s official foreign reserves have decreased, while the country’s total reserves saw a slight increase. According to the latest data from the State Bank of Pakistan, total reserves rose by $3.72 million by the week ending December 27, reaching $16.4 billion, compared to $16.37 billion in the previous week. The central bank reported a …
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Karachi: Veon Group, a global digital operator, has injected USD 15 million into Mobilink Bank. The investment aims to boost Mobilink Bank’s strategic growth, focusing on microfinance, Islamic banking, and technological advancements. The fresh capital will enable the bank to expand its offerings in Micro, Small, and Medium Enterprise (MSME) financing. The funds will also …
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Gold prices in Pakistan have risen sharply, continuing their upward trajectory. The rate of one tola gold increased by Rs. 2,200, reaching Rs. 276,900 in local markets. Similarly, the price of 10 grams of gold climbed by Rs. 1,886, now standing at Rs. 237,397. This surge mirrors international market trends, where gold prices rose by …
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KARACHI: The Pakistan Stock Exchange (PSX) started the new year with a record-breaking rally. The KSE-100 Index closed above the 117,000 mark after gaining nearly 1,900-point surge on Wednesday. The KSE-100 Index gained 1,881.18 points, closing at 117,008.08, marking a 1.63% increase. The index hit an intra-day high of 117,341.03, supported by strong local buying …
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Russia’s natural gas exports to Europe through Ukraine have stopped. The halt follows Ukraine’s refusal to renew a five-year transit deal that expired on Wednesday. Ukraine’s Energy Minister German Galushchenko confirmed the suspension. “We stopped the transit of Russian gas. This is a historic event,” he stated. He added that Russia will suffer financial losses …
ISLAMABAD: Prime Minister Shehbaz Sharif plans to expand his cabinet by inducting four to five new ministers next week. Dr. Tauqir Shah, a close confidant of PM Shehbaz, is expected to join the cabinet. He previously served as principal secretary to the PM. Currently working with the World Bank, Dr. Tauqir is visiting Pakistan on …
Gold prices in 2024 hit historic highs, with international rates reaching $2,790 per ounce and local prices in Pakistan surging to Rs287,900 per tola. The rise in prices was driven by central bank purchases, especially from emerging markets, as well as escalating geopolitical tensions around the world. Key drivers behind the price surge included intensified …
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A US newspaper has uncovered the Indian government’s involvement in sponsoring global terrorism. The Washington Post has revealed the Indian government’s complicity in terrorism and human rights violations. The newspaper’s report exposes India’s role in targeted killings and other violent activities across the globe. According to the newspaper, India is deeply involved in terrorist activities, …
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ISLAMABAD: The Ministry of Religious Affairs and Interfaith Harmony has announced the Hajj Labour Quota for 2025, reserving 300 seats for low-income workers. Nominations have been invited from public and corporate sector organisations for workers in grades equivalent to Scale 1 to 9, including labourers, industrial workers, and miners. The ministry’s spokesperson, Muhammad Umar Butt, …
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ABU DHABI: Burjeel Holdings PLC, listed on the Abu Dhabi Stock Exchange, has fully acquired IziSpecialist, a healthcare facility in Makkah. The acquisition was completed through its subsidiary, Burjeel Saudi Arabia, for a total investment of SAR 6.5 million (AED 6.36 million). The company announced the acquisition in a press release, emphasizing its commitment to …
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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has asked the government to review Rs15.28 per unit taxes on electricity. The regulator has also questioned the uniform consumer tariff policy, which it says incentivizes inefficiencies in the power sector. In its State of the Industry Report 2024, Nepra warned that high electricity costs are crippling …
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As the clock ticks toward midnight on December 31st, the world begins its 26-hour journey into a new year. For some, this transition comes earlier than others, and welcome the first rays of the new year belongs to the tiny Pacific island nation of Kiribati. Specifically, the Kiritimati atoll, also known as Christmas Island, is …
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Karachi police took decisive action on Tuesday to clear roads blocked by the Majlis Wahdat-e-Muslimeen (MWM). The sit-ins, now in their eighth consecutive day, severely disrupted city life and drew criticism from authorities. Tensions flared at Numaish Chowrangi as protesters resisted police efforts to disperse them. Demonstrators pelted stones, set fire to six motorcycles, and …
The start of a new year brings with it the opportunity to connect with loved ones and share heartfelt wishes. A simple message can brighten someone’s day and fill them with hope for the year ahead. Whether you’re looking for warm, thoughtful, or even a touch of humor, here are 50 heartfelt New Year wishes …
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Many people associate the New Year with fireworks, parties, and resolutions. However, there are many unique customs around the world. These traditions hold deep meaning and often symbolize hopes for prosperity, health, and happiness. Let’s explore some of the most interesting New Year’s traditions from across the globe. Spain: Eating 12 Grapes at Midnight In …
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KARACHI: The government of Pakistan has secured a $300 million short-term loan from United Bank Limited (UBL) to meet its external debt repayment obligations. UBL Facilitates Loan through International Branches In a press release issued on Monday, UBL confirmed that its UAE and Bahrain branches arranged and financed the loan. The transaction underscores UBL’s capacity …
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ISLAMABAD: The federal government is bracing for a tax revenue shortfall of Rs80-90 billion in December 2024, despite recent measures to enhance revenue. A presidential ordinance has imposed a 44% tax on banking sector profits. The Federal Board of Revenue (FBR) expects to collect Rs70 billion from the banking sector by December 31, 2024. This …
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According to Israeli media reports, Prime Minister Benjamin Netanyahu underwent surgery in a multi-story underground hospital ward due to extreme security concerns. The operation lasted over two hours, and Netanyahu is expected to remain in the underground ward for several days. Prostate Surgery Due to Infection Israeli media revealed that Netanyahu had been suffering from …
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In a significant development, Saudi Arabia is set to purchase 15% of the shares of the Reko Diq project for $540 million. The federal cabinet has approved the deal, which will be completed under the Inter-Governmental Transaction Act. Payment Structure and Timeline Saudi Arabia will pay Pakistan in two installments. The first installment of $330 …
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Winter is a magical season filled with snowflakes, cozy blankets, and frosty mornings. While most people enjoy the season’s charm, many are unaware of the unique aspects of winter that influence our mornings, nights, and overall health. Let’s dive into 10 interesting and lesser-known facts about winter, backed by research and evidence, that will give …
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Jimmy Carter, the 39th president of the United States, has passed away at the age of 100. The former president died in hospice care after battling cancer and other health challenges. He celebrated his centenary just two months ago. Carter, known for his promise never to lie to the American people, rose to power in …
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The year 2024 was a politically eventful one for Pakistan, marked by critical decisions, power struggles, and pivotal developments that shaped the nation’s political landscape. From economic reforms to judicial controversies and shifting alliances, these events highlighted both the challenges and resilience of the country’s political framework. Here’s a detailed look at the significant political …
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The federal government is expected to announce new petroleum prices on December 31. Diesel and kerosene oil prices may see an increase, while petrol prices are likely to remain unchanged. Sources from the Petroleum Division suggest a potential increase of more than Rs4 per litre in diesel prices. Diesel is widely used in transportation and …
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