A representational image of a Richter scale measuring an earthquake. — Unsplash An earthquake of magnitude 5.9 struck off the east coast of Russia’s Kamchatka region on Friday, the European Mediterranean Seismological Centre (EMSC) said. The quake hit at a depth of 51 kilometres at 3:24pm local time, EMSC said. The quake comes over a … Read more
UNITED NATIONS: Israel informed the United States that an initial investigation found that gunfire directed at a World Food Programme (WFP) vehicle in the Gaza Strip resulted from a “communication error” between Israeli military units, according to US Deputy Ambassador to the United Nations Robert Wood on Thursday. Speaking at a UN Security Council meeting … Read more
KARACHI: The Pakistani rupee reached a five-week high at Rs278.32 against the US dollar, appreciating by Rs0.10 in the inter-bank market, driven by expectations of significant foreign investment and new external loans. According to data from the State Bank of Pakistan (SBP), this marks the third consecutive day of gains for the domestic currency, which … Read more
KARACHI: Gold prices in Pakistan soared to a new record high of Rs263,700 per tola (11.66 grams) on Saturday, marking a fresh increase of Rs1,700, according to the All Pakistan Sarafa Gems and Jewellers Association. The metal pricing body reported that this latest rise follows a $20/ounce (31.10 grams) increase in global gold prices, which … Read more
ISLAMABAD: Gold prices in Pakistan continued their upward trajectory on Friday, reaching a new record high despite a decrease in international rates. The price of gold per tola rose by Rs200, bringing it to Rs262,000 in the local market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10 grams of … Read more
A currency exchange dealer counting $100 bills. — AFP/File TOKYO: The dollar slipped to its lowest this year versus the euro on Wednesday as traders braced for potentially crucial revisions to US payrolls data later in the day, ahead of a speech by Federal Reserve Chair Jerome Powell at the end of the week. The … Read more
KARACHI: Pakistan posted a current account deficit (CAD) of $162 million in the first month (July) of the current fiscal year 2024-25, slightly exceeding market expectations and the average of the past 12 months, yet still remaining well within the targeted limit. The current account deficit occurred due to increased imports of goods to support … Read more
An updated image of gold jewellery displayed at a store. — AFP/File NEW YORK: Gold hit a record high on Friday as global stock markets gained on reassuring data about the health of the world’s biggest economy and likely US interest rate cuts. Expectations of US interest rate cuts weakened the dollar, while oil prices … Read more
New York Yankees captain Aaron Judge became the fastest player in Major League Baseball history to reach 300 career home runs on Wednesday. Judge achieved this milestone with a three-run homer in the eighth inning against the Chicago White Sox, marking his 955th regular-season game, just one day after the eighth anniversary of his MLB … Read more
Pakistan’s economy has shown signs of improvement in FY24, with key debt indicators reflecting positive trends. The country’s Debt-to-GDP ratio has fallen to a six-year low of 70%, driven by a nominal GDP increase that has outpaced the rise in debt, primarily due to higher inflation. This marks a significant reduction in the debt burden, … Read more