Sunday, September 24

Tag: dollar

Imran Khan’s lawyer buys him two hours as LHC adjourns hearing till 12:30pm
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Imran Khan’s lawyer buys him two hours as LHC adjourns hearing till 12:30pm

LHC had conditioned PTI chair to appear in person to secure protective bail LAHORE: The Lahore High Court (LHC) resumed on Thursday the hearing on the bail petition of Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan, who has been conditioned to appear before the court in person today to secure immunity from arrest. The former premier, a day earlier, had approached the LHC after an anti-terrorism court (ATC) in Islamabad cancelled his bail for missing the hearing of a case lodged in light of protests outside the Election Commission of Pakistan's (ECP) office which disqualified him in the Toshakhana case.  At the outset of the hearing, Advocate Azhar Siddique submitted his power of attorney on behalf of Imran Khan. "A meeting with Imran Khan's doctors is going on a...
US Fed unveils smaller rate hike but signals inflation fight not over
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US Fed unveils smaller rate hike but signals inflation fight not over

US central bank announces quarter-point hike to benchmark lending rate, taking the rate to a target range of 4.50-4.75% US Fed Chairman Jerome Powell WASHINGTON: America's Federal Reserve slowed its pace of interest rate hikes Wednesday, tempering an aggressive campaign to rein in costs as inflation cools, but signaled the battle is not yet over. The US central bank announced a quarter-point hike to the benchmark lending rate at the end of its two-day policy meeting, taking the rate to a target range of 4.50-4.75%. "Inflation has eased somewhat but remains elevated," said the Fed's policy-setting Federal Open Market Committee (FOMC) in a statement. While recent developments are encouraging, officials will need "substantially more evidence" to be confident that i...
Sheikh Rashid moves LHC after govt ‘sealed’ Lal Haveli
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Sheikh Rashid moves LHC after govt ‘sealed’ Lal Haveli

LHC admits petition filed on behalf of Sheikh Rashid, it will be heard shortly RAWALPINDI: Former interior minister and Awami Muslim League (AML) chief Sheikh Rashid Monday moved the Lahore High Court (LHC) Rawalpindi Bench after the government "completely sealed" his Lal Haveli residence. The LHC admitted the petition — submitted by Advocate Sardar Raziq Khan filed a petition on behalf of Rashid — which will be heard shortly. Earlier today, the AML chief claimed that the government has "completely sealed" his Lal Haveli residence. Following the development, the AML workers also reached the residential property and were chanting slogans against the ETPB officials.  The famous Lal Haveli, an old building at Bohar Bazaar, is the political office of the AML leader —...
Latest petrol price in Pakistan
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Latest petrol price in Pakistan

Finance Minister Ishaq Dar announced that the hike will be effective from 11am today The federal government has increased the price of petrol and diesel by Rs35, Finance Minister Ishaq Dar announced Sunday. CommodityExisting pricesw.e.f16.01.2023New pricesw.e.f29.1.2023 (11am)Increase/Decrease (in rupees)Petrol Rs214.80Rs249.80+35Diesel Rs227.80Rs262.80+35Kerosene oilRs171.83Rs189.83+18Light diesel oilRs169Rs187+18
Maryam Nawaz to arrive in Pakistan today after three months
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Maryam Nawaz to arrive in Pakistan today after three months

PML-N completes all preparations in Lahore to welcome Maryam, who will now lead party's election campaign in Punjab MARYAM NAWAZ (PMLN) Pakistan Muslim League-Nawaz's (PML-N) Senior Vice President Maryam Nawaz will reach Pakistan from United Arab Emirates (UAE) today around 3pm. The party workers in the provincial capital have completed all the preparations to welcome their leader, who will now lead the PML-N's election campaign in Punjab.  Announcing the news, Information Minister Marriyum Aurangzeb revealed that the party's senior vice president will reach Lahore at 3pm. “Party leaders, workers and supporters are eagerly waiting for Maryam,” she wrote on Twitter adding that upon her arrival she will start the restructuring of the party’s organisational set...
Petroleum products prices seen jumping post rupee devaluation
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Petroleum products prices seen jumping post rupee devaluation

KARACHI: Petroleum prices would increase massively in the next fortnightly review, even without a spike in levy and sales tax, as the government aims to please the International Monetary Fund (IMF), The News learnt on Friday. Information gathered from the country’s oil sector showed that the massive depreciation of rupee against the dollar in the last two sessions would not reflect greatly in the review due on January 31, 2023, as the average exchange rate would come around Rs240. However, the fortnightly review due on February 15 would show sharp appreciation in domestic petroleum prices on account of rupee depreciation. “The sharp appreciation of dollar against the rupee in the last two sessions would reflect in the revision of petroleum prices on February 15, 2023 when the do...
Rupee depreciates against dollar in interbank by Rs7, trades at Rs237
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Rupee depreciates against dollar in interbank by Rs7, trades at Rs237

The rupee depreciated in the interbank market a day after the local currency took a hit in the open market KARACHI: The local currency on Thursday took an enormous blow in the interbank market during intraday trade as it depreciated by more than Rs7, a day after the lifting of the unofficial cap in the open market. There was no official cap on the dollar in the interbank market, however, the rupee for the last few months maintained its position in the interbank market and did not depreciate as expected The US dollar is currently trading at Rs237 compared to the last day's closing of Rs230.98. However, despite the dramatic plunge, the rupee is still not at its lowest level. The local currency witnessed its record-low on July 28, 2022, when it dropped to Rs239.94...