Islamabad, Dec 16: Pakistan’s efforts to curb illegal foreign exchange trading are yielding positive results, with remittances expected to hit a record $35 billion this year, up from $30 billion last year, according to a Bloomberg report. Finance Minister Muhammad Aurangzeb credits these gains to stringent measures against unofficial dollar trading. Economist John Ashbourne of BMI, Fitch Solutions, notes that the reforms have redirected remittances from the black market to official channels. This shift has significantly boosted Pakistan’s foreign exchange reserves, now exceeding $12 billion, their highest since March 2022. This development comes amid critical reforms under the International Monetary…
Author: Mawadat Fatima
Islamabad, Dec 16: Karachi experienced a chilly night on Sunday as the minimum temperature dropped to 8.9°C, according to the Pakistan Meteorological Department (PMD). Jinnah Terminal recorded Karachi’s lowest temperature at 8.9°C, while Gulistan-e-Jauhar and Shahrah-e-Faisal noted 10.5°C and 11.5°C, respectively. Mauripur experienced slightly warmer conditions at 12.5°C. The Pakistan Meteorological Department (PMD) forecasted cold and dry weather, with daytime temperatures peaking at 27°C. Northeast winds at 7 km/h and 50% humidity were also reported. However, Karachi’s Air Quality Index (AQI) reached 183, indicating unhealthy conditions. Icy winds from Balochistan made temperatures feel 2–4 degrees lower than recorded. Severe Cold…
Islamabad, Dec 16: The OPPO Find X8, and Find X8 Pro have officially launched, making their global debut during an event held in Bali, Indonesia. These flagship smartphones boast cutting-edge features across camera technology, performance, and battery life, setting a new benchmark for OPPO devices. Notably, the Find X8 series is the first to feature the Android 15-based ColorOS 15 UI, which introduces a fresh design with over 800 revamped elements. Alongside, OPPO has integrated advanced AI tools such as AI Eraser, AI Clarity Enhance, AI Unblur, and AI Reflection Remover for photography, as well as productivity features like AI…
Islamabad, Dec 16: The Pakistan Stock Exchange (PSX) commenced the week on a bullish note, with the KSE-100 index briefly surpassing 115,900 points, setting a historic high for the market. During intra-day trading, the index surged by 1,700 points, reaching a peak of 116,015.28 points, before stabilizing at 115,900 points, reflecting a 1.25% increase. This rally follows consistent gains over recent weeks, with the PSX achieving a 4.8% increase last week, closing at a record 114,302 points. The average daily traded value reached an unprecedented Rs60 billion, contributing to a year-to-date return of 83%. Key Drivers: Anticipated interest rate cuts…
Islamabad, Dec 16: The Pakistan Cricket Board (PCB) is intensifying its discussions and consultations for the upcoming PSL 10, particularly focusing on finalizing player categories, including the prestigious Platinum band. A key meeting was held to evaluate players for the Platinum category, with some of Pakistan’s top cricketers in contention. PSL 10: Player Considerations for Platinum Category Player Name Specialty Shaheen Shah Afridi Fast Bowler Fakhar Zaman Opening Batsman Haris Rauf Fast Bowler Babar Azam Top-order Batsman Saim Ayub Batsman Mohammad Amir Left-arm Pacer Shadab Khan All-rounder Naseem Shah Fast Bowler Imad Wasim All-rounder Mohammad Rizwan Wicketkeeper-Batsman Usama Mir Leg-spinner…
Islamabad, Dec 16: Bitcoin has reached a new all-time high, continuing its upward trajectory with a more than 50% increase in value since Donald Trump’s victory in the U.S. presidential election on November 5. On Monday, the cryptocurrency briefly surpassed $106,000 before stabilizing around $105,000. The surge is largely attributed to investor expectations of a more crypto-friendly approach under the incoming Trump administration, in contrast to the policies of the Biden White House. President-elect Trump recently announced that he is considering the creation of a national Bitcoin reserve, inspired by the U.S. Strategic Petroleum Reserve. This proposal has sparked enthusiasm…
Islamabad, Dec 16: The Punjab School Education Department has announced a temporary relaxation of school uniform rules, allowing students to wear any type or color of warm clothing to protect against the severe winter weather. In an official notification, the department stated that both public and private school students can now wear sweaters, jackets, coats, caps, socks, and shoes of their choice for warmth. This policy will be in effect immediately and continue until February 28, 2025. The decision comes as Punjab experiences a particularly harsh cold wave, with authorities prioritizing the health and comfort of students. The Education Department…
Islamabad, Dec 16: Punjab University has announced the postponement of all exams scheduled for December 16, 17, and 18, 2024. A university spokesperson stated that the revised exam schedule will be shared at a later time. In the meantime, schools across Punjab and the Islamabad Capital Territory were closed today (Monday) due to the ongoing security situation. On Sunday, the Punjab School Education Department issued a notification confirming that all public and private schools in Punjab would remain closed on December 16, 2024. The notification also clarified that government offices would remain open and operate as usual. Similarly, Islamabad’s District…
Islamabad, Dec 16: The Pakistan Medical Association (PMA) has expressed grave concerns over a severe shortage of essential medicines for treating cardiac diseases and hepatitis, calling it a “humanitarian crisis,” as reported by Express-News on Sunday. The PMA noted that the shortage, especially in Sindh and Punjab, is putting patients’ lives at risk, with numerous complaints from healthcare providers and affected individuals across the country. The lack of life-saving medications has led to delayed treatments, heightening the risk of complications and fatalities. The crisis has particularly impacted underprivileged patients, highlighting significant disparities in healthcare access. The association criticized the government’s…
Islamabad, Dec 16: Lotte Chemical Pakistan Limited (PSX: LOTCHEM) has announced an extension of its plant operations suspension until December 22, 2024, as per a notification to the Pakistan Stock Exchange (PSX). The company had initially planned a temporary shutdown from November 16 to December 15, 2024. However, in a recent update, the suspension has been extended by an additional week. The company explained that this shutdown is part of a planned strategy to optimize inventory levels and perform essential maintenance tasks. Lotte Chemical Pakistan is primarily involved in the production and sale of Pure Terephthalic Acid (PTA), a crucial…
