Monday, October 26, 2026 · Petrol Rs 377.71 · USD/PKR 277.05 · Gold Rs 424536/tola
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Articles for tag: remittances, rises, Rupee, Rupee rises slightly on strong remittances, slightly, strong

June 28, 2024

News Desk

Rupee rises slightly on strong remittances

KARACHI: The Pakistani currency rose by Rs 0.03 to a fresh two-week high of Rs 278.37 against the US dollar in the interbank market on Thursday, maintaining its winning streak for the third consecutive day on the back of a surge in workers’ remittances in June. According to State Bank of Pakistan (SBP) data, the rupee had closed at Rs 278.40 against the dollar on Wednesday. The Exchange Association of Pakistan (ECAP) said the local currency appreciated by Rs 0.09 on a daily basis in the open market to close at Rs 280.18/$. Speaking to The Express Tribune, ECAP Secretary

June 23, 2024

News Desk

Toxic alcohol tragedy in India kills 53 as death toll rises

BENGALURU: The death toll from a batch of toxic illegal alcohol in India has risen to 53, Indian media reported Sunday, as more victims in hospital succumbed to the poisonous drink. The Chief Minister of the state of Tamil Nadu, M.K. Stalin said the locally brewed arrack drink was laced with poisonous methanol, killing 37 within hours of drinking the illicit alcohol on Tuesday. More than 100 people were rushed to hospital, but some were too ill for doctors to save. Hundreds of people die every year in India from cheap alcohol made in street distilleries, but this poisoning is

June 21, 2024

News Desk

Power production rises for the first time in 7 months

KARACHI: Despite a significant 10% reduction in fuel cost for power generation by May 2024, electricity distribution companies (DISCOs) have demanded a tariff hike of Rs 3.41 per unit in the name of fuel charge adjustment (FCA). . Higher capacity charges will also add to your final electricity bill for the month. Power utilities have sought an upward revision of fuel charges due to lower benchmark fuel costs. Similarly, capacity payments have increased due to the fall in demand for energy consumption compared to the previous demand forecast. Meanwhile, the electricity sector recorded its first increase in output in seven

June 17, 2024

News Desk

Spending on nuclear weapons rises as global tensions rise: studies

Nuclear-weapon countries have increased spending on nuclear weapons arsenals by a third over the past five years as they modernize their stockpiles amid rising geopolitical tensions, two reports showed on Monday. The world’s nine nuclear-weapon states spent a combined $91 billion on their arsenals last year, according to a new report by the International Campaign to Abolish Nuclear Weapons (ICAN). That report, and a separate one by the Stockholm International Peace Research Institute (SIPRI), said nuclear-weapon states are dramatically escalating spending as they modernize and even develop new nuclear weapons. “I think it’s fair to say that there is a

May 15, 2024

News Desk

Indonesia toll rises to 62 from deadly Sumatra floods, 25 still missing

TANAH DATAR: The death toll from weekend floods and mudslides in Indonesia’s West Sumatra province rose to 62 on Wednesday, authorities said, as rescuers searched areas near rivers for 25 people still missing. Officials said some of those missing earlier were found dead during the day, raising the toll from 58 reported in the morning. A video shared by national disaster management agency BNPB showed logs, rocks and mud strewn over roads, collapsed bridges and houses in Tanah Datar, one of three districts in West Sumatra hit by the floods. The disaster struck the region on Saturday afternoon, when heavy

May 13, 2024

News Desk

Number of Israeli soldier suicides since October 7 rises to 10: report

At least 10 Israeli army officers and soldiers have committed suicide since the conflict between Israel and Hamas militants began on October 7, 2023, according to the leading Israeli newspaper Haaretz. According to the report, the majority of these soldiers were young and some of them ended their lives while near Gaza settlements. The newspaper highlighted the significant psychological pressure these soldiers face, citing the opinion of several psychologists. Haaretz also noted a prevalence of suicidal tendencies among both active and reservist soldiers, with many in their thirties and forties. Analyzing a specific incident, Haaretz reported that an officer of

April 28, 2024

News Desk

PSX rises on better financial outlook

KARACHI: The Pakistan Stock Exchange (PSX) rallied in remarkable fashion in the last week as it surged to a new peak around 72,750 points as activity was fueled by the Iranian president’s visit to Pakistan and speculation about the upcoming monetary policy and fresh talks loan with the International Monetary Fund (IMF). Some other major positive developments on the economic front and the ongoing corporate earnings season also fueled the market rally which saw the KSE-100 index surge over 1,800 points. Significant increase in Pakistan’s current account surplus, improvement in foreign direct investment and increase in investment through Roshan Digital

April 17, 2024

News Desk

Flash floods hit Dubai airport as Oman toll rises to 18

DUBAI: Torrential rain flooded roads, homes and shopping malls and briefly halted operations at Dubai airport as storms lashed the Gulf on Tuesday after leaving at least 18 dead in Oman. Dubai, the financial hub of the Middle East, was paralyzed by severe storms that caused widespread flooding around the United Arab Emirates and Bahrain. The iconic Dubai Mall and Mall of the Emirates were flooded and water was ankle-deep in at least one Dubai Metro station. Roads and residential communities also suffered heavy flooding in scenes repeated around the oil-rich Emirates, a desert country where rain is an uncommon

April 14, 2024

News Desk

Eid sales plummet as street crime rises

KARACHI: While bemoaning poor trading activities, leading traders of Karachi have expressed concern over low sales throughout the Eid period. Seventy percent of Eid items, including suits, dresses, shoes and more, could not be sold due to soaring inflation, shrinking income, falling purchasing power, rising unemployment and depressing street crimes in the city . Speaking to Express Tribune, All Karachi Tajir Ittehad (AKTI) President Atiq Mir said shopkeepers and traders complained that 70% of their items are still in shops or houses. More than 50% of people focused on grains, groceries, fruits and other necessary edible items during Ramadan until

March 23, 2024

News Desk

Russia arrests suspected gunmen as death toll rises to 143

MOSCOW: Russia has arrested 11 people, including four suspected gunmen, in connection with a shooting attack that killed at least 143 people at a concert hall near Moscow, the Kremlin said on Saturday. The Da’ish militant group claimed responsibility for Friday’s attack, the deadliest in Russia in 20 years. However, there were signs that Russia was seeking a Ukrainian connection, despite a statement by Ukraine’s presidential adviser Mykhailo Podolyak that Kiev had nothing to do with it. The FSB security service said that “all four terrorists” were arrested while heading towards the Ukrainian border and that they had contacts in

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