The US dollar continued its rising spree for the fourth consecutive session and appreciated by 50 paise against the rupee in the interbank market on Wednesday. The State Bank of Pakistan (SBP) reported the dollar closing price at Rs222.41 from Rs221.91 a day earlier. With the increasing pressure on the external front, the exchange rate has started reflecting the response. Currency dealer
Made-in-Pakistan weapons are so effective that they determine the outcome of war. According to one private-sector arms manufacturer present at the 11th International Defence Exhibition and Seminar (IDEAS) 2022, his company’s 40mm single-shot grenade launchers played a “key role” in helping Sri Lanka win its war against the Tamil Tigers in the late 2000s. “Their chief of army staff called ou
Oil prices fell for a second day in early Asian trade on Thursday as concerns over geopolitical tensions eased and rising numbers of Covid-19 cases in China added to demand worries in the world’s largest crude importer. Brent crude futures dropped by 62 cents, or 0.7 per cent, to $92.24 a barrel by 0110 GMT. US West Texas Intermediate (WTI) crude futures fell 65 cents, or 0.8pc, to $84.94 a bar
The country’s default risk as measured by five-year credit-default swaps (CDS) — insurance contracts that protect an investor against a default — rose sharply overnight amid political turmoil and uncertainty about talks with the International Monetary Fund (IMF). The CDS soared to 75.5 per cent on Wednesday from 56.2pc a day ago, according to data provided by research firm Arif Habib Limited.
The counsel for the Balochistan government on Tuesday informed a five-judge Supreme Court bench, headed by Chief Justice Umar Ata Bandial, that the presidential reference regarding the Reko Diq agreement was maintainable because it was a matter of public interest. Lawyer Salahudin Ahmed also informed the bench that despite elaborating dire consequences, a three-judge bench of the apex court led