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To curtail “Dollarisation” and inflationary pressure SBP hikes interest rate

ISLAMABAD: The State Bank of Pakistan on Tuesday has announced its monetary policy, raising the interest rate by 100 basis pointst-- to 13.5 percent. The move follows the agreement with the International Monetary Fund over a $6 billion loan package that comes with tough conditions aimed at cutting Pakistan's substantial fiscal and current account deficits and bolstering its shrinking currency...

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British PM Theresa May quits as party leader, starting succession race

British Prime Minister Theresa May steps down as leader of her Conservative Party on Friday, formally triggering the race for a successor who will try where she failed to deliver Brexit. May will remain prime minister until a new leader is chosen, likely in late July, but has relinquished control over the direction of Britain's tortuous departure from the European...

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Trump administration suspends US educational programs for migrant children

The Trump administration is suspending educational, legal and recreational programs for migrant children in its custody, saying an influx of children crossing the border without a parent or legal guardian was putting a “tremendous strain” on the resources of the agency tasked with housing them. The agency that houses migrant children — the Office of Refugee Resettlement (ORR) — asked...

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COAS, Politicians urges people to help the poor on Eidul Fitr

As the Central Ruet-e-Hilal Committee announced the sighting of the moon for the month of Shawwal, messages from civil and military leaders began flown in with a general consensus on helping the poor and less-privileged during the festivities of Eidul Fitr. Army Chief Gen Qamar Javed Bajwa Major General Asif Ghafoor, the director general of Inter-Services Public Relations, tweeted Eid...

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President Ashraf Ghani to visit Pakistan on June 27th

Afghan President Ashraf Ghani has said he will visit Pakistan on June 27 to open a new chapter in his country's relationship with its neighbour and mend ties that are often characterised by mistrust and tit-for-tat accusations. In his message to mark Eidul Fitr, Ghani said he agreed to visit Prime Minister Imran Khan after the two leaders met last...

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Sudanese forces storm protest camp, 13 people dead

KHARTOUM: Security forces stormed a protest camp in the Sudanese capital Khartoum on Monday morning and at least 13 people were reported killed in the worst violence since the overthrow of President Omar al-Bashir in April. Footage shared on social media and verified by Reuters showed chaotic scenes of people fleeing through streets as sustained bursts of gunfire crackled in...

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Donald Trump lashes London mayor Sadiq Khan as he lands in UK for state visit

LONDON: US President Donald Trump arrived on his state visit to Britain on Monday in combative mood, following up his weekend interventions over Brexit with a broadside against London's "loser" mayor. The president's plane had not even touched down when he tweeted that Sadiq Khan, who has been highly critical of the red-carpet welcome laid on for Trump, had done...

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Accountability to continue without discrimination: NAB Chairman

ISLAMABAD: National Accountability Bureau Chairman Justice (retd) Javed Iqbal said on Monday that the process of accountability will continue without any discrimination. According to an official press statement, Javed Iqbal said that NAB is an impartial institution. The NAB chairman said that corruption is on the rise and mega corruption cases will remain the focus as it will lead to...

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Khalilzad commences 2-week-long peace mission with Islamabad visit

US Special Representative for Afghanistan Reconciliation Zalmay Khalilzad arrived Islamabad on Sunday to commence a two-week peace mission that will take him to Afghanistan, Belgium, Germany, Qatar and the United Arab Emirates in efforts to end the long-running Afghan war. In Kabul, the US State Department said Khalilzad would consult with the Afghan government and other Afghans. He is also...

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Iran focused summit: OIC supports Palestinians, condemns attack on Saudi Arabia

MAKKAH: The 14th Summit of the Organisation of Islamic Cooperation (OIC) on Saturday threw its support behind Palestinians ahead of a US-led peace plan suspected to be skewed in favour of Israel, as regional allies rallied around Saudi Arabia over tensions with Iran. Gulf and Arab leaders at the OIC talks, the third and final Iran-focused summit in the holy...

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Car bomb targets US convoy in Kabul, several casualties

KABUL: A car bomb attack on a US convoy in the Afghan capital on Friday, wounded four US service members and killed at least four Afghan civilians, officials said, in the second attack in the city in two days. The Taliban claimed responsibility for the blast, which came a day after the Islamic State militant group claimed a suicide attack...

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Saudi king demands firm Arab stand on Iran’s ‘criminal’ acts

MAKKAH: Saudi Arabia's King Salman on Friday ratcheted up the rhetoric against arch-nemesis Iran, calling on Arab states to confront its "criminal" actions after attacks on oil installations sparked fears of a regional conflagration. The king's remarks came at the start of two back-to-back emergency summits in the holy city of Makkah, which drew near-unanimous support for the Sunni kingdom...

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PM Khan arrives in Saudi Arabia to attend OIC summit

Prime Minister Imran Khan arrived in Madina on Thursday on an official trip to Saudi Arabia where he will represent Pakistan at the two-day summit of the Organisation of Islamic Cooperation (OIC) Radio Pakistan reported. "Makkah Summit: Together for the Future" is the title of the summit set to begin on May 31 in Makkah and will be presided by...

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PSE witnessing bullish trend on second consecutive day

KARACHI: Following the upward trajectory a day before, the Pakistan Stock Exchange (PSX) continued its bullish trend on Thursday. At the time this report was posted, the benchmark KSE-100 index was up 92.18 points. The current index was 36,051.61 points with a 0.26% change. On Wednesday, the KSE-100 gained 1,010 points closing just shy of the 36,000 points level. A...

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Rs1837 BN development budget for centre, provinces approved by NEC

ISLAMABAD: The National Economic Council (NEC) on Wednesday approved a development budget of Rs1837 billion for the center and provinces for the next monetary year. In a meeting presided by Prime Minister Imran Khan, a 12th five-year plan was approved, said the statement issued today. 4 per cent Gross Domestic Product (GDP) rate, 3 per cent increase in the agriculture...

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PSX: Benchmark index gains 1,010 points; US dollar unchanged

KARACHI: The Pakistan Stock Exchange (PSX) saw a bullish run on Wednesday with the benchmark KSE-100 index gaining 1,010 points. At the conclusion of trading, the benchmark KSE-100 was up 2.89% closing just short of the 36,000 points level at 35,959.43 points. With a value of Rs7.19billion, a total volume of 151million shares were traded. The KSE-100 closed the outgoing...

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Taliban say ‘occupation’ must end for Afghan peace as delegates meet in Moscow

MOSCOW: A Taliban delegation met a group of senior Afghan politicians in Moscow on Tuesday, insisting that international forces must leave Afghanistan for peace to be agreed, amid gathering diplomatic efforts to end the 18-year war. The delegation, led by chief Taliban negotiator Mullah Baradar Akhund, met politicians, including senior regional leaders and candidates challenging President Ashraf Ghani in this...

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