Author: newsdesk

  • SBP-held foreign exchange reserves rise to $9.14 billion

    SBP-held foreign exchange reserves rise to $9.14 billion

    During the week ending May 10, 2024, the State Bank of Pakistan (SBP) reported a notable uptick in its foreign exchange reserves, marking an increase of $15.2 million or 0.17 per cent week-on-week (WoW), bringing the total to $9.14 billion.

    This data, released by the central bank on Thursday, underscores a positive trend in the country’s monetary reserves.

    Notably, the SBP did not provide specific insights into the driving factors behind this increase.

    According to a statement issued by the SBP, “During the week ending May 10, 2024, SBP reserves experienced a $15 million increment, reaching $9.14 billion.”

    Simultaneously, Pakistan’s overall reserves recorded a significant rise, climbing by $167.5 million or 1.16 per cent WoW to $14.63 billion.

    This increase encompasses reserves held by commercial banks as well, which surged by $152.3 million or 2.85 per cent WoW to reach $5.49 billion.

    Examining the broader fiscal landscape, the current fiscal year has witnessed a substantial uptick in total liquid foreign reserves, surging by $5.47 billion or 59.68 per cent. Moreover, the ongoing calendar year has seen a notable increase of $1.95 billion or 15.41 per cent.

    This surge in reserves reflects positively on Pakistan’s economic stability and its ability to manage external financial obligations, contributing to investor confidence and fostering a favorable environment for economic growth.

  • Gold price increases by Rs1,600 to Rs245,600 per tola

    Gold price increases by Rs1,600 to Rs245,600 per tola

    Gold prices in Pakistan continued their upward trend on Thursday, mirroring the surge in the global market rates.

    According to the latest data from the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola reached Rs245,600, marking a notable increase of Rs1,600 within a single day.

    Similarly, the 10-gramme gold rate climbed to Rs210,562, reflecting a rise of Rs1,371.

    The international gold rate also experienced an upswing on Thursday, as reported by APGJSA. It reached $2,390 per ounce, with an additional premium of $20, following a $25 increment throughout the day.

    In parallel, silver prices witnessed a hike, settling at Rs2,730 per tola after an uptick of Rs80.

    This surge in gold and silver prices comes after a recent record high last month, where gold soared to Rs252,200 per tola in the domestic market. Notably, just the previous day, gold prices in Pakistan had risen by Rs2,900 per tola.

    The continuous rise in precious metal prices both domestically and internationally underscores the ongoing volatility in the global economic landscape, influencing investment patterns and consumer sentiments in Pakistan’s bullion market.

  • IHC bans entry of intelligence officials within court premises

    IHC bans entry of intelligence officials within court premises

    The Islamabad High Court (IHC) on May 16 prohibited the entry of spy agency officials within the court’s premises.

    Justice Tariq Mahmood Jahangiri gave the ruling which was confirmed by a police official at the court.

    The development followed the release of an explosive letter penned to the Supreme Judicial Council by six judges if IHC on March 27, alleging the interference of intelligence agencies in judicial matters.

    The six judges of the IHC who wrote the letter were Justice Mohsin Akhtar Kiyani, Justice Tariq Mehmood Jahangiri, Justice Babar Sattar, Justice Sardar Ejaz Ishaq Khan, Justice Arbab Muhammad Tahir, and Justice Saman Rafat Imtiaz.

  • Kalash Valley’s Chilam Joshi festival: A colorful celebration of spring and tradition

    Kalash Valley’s Chilam Joshi festival: A colorful celebration of spring and tradition

    The Kalash Valley is celebrating the yearly spring festival for five days.

    The Kalash people are celebrating their annual Chilam Joshi holiday in the Rumbur valley of Chitral. The festival began on May 13 and will end today, May 16 2024.
    The Kalasha village commemorates this event annually, which marks the advent of spring.

    It is a major part of the cultural heritage of the area and draws tourists from all over the world.
    Men wear traditional Shalwar Kameez with woolen waistcoats, while women wear brightly colored traditional clothing embellished with gold and silver pieces and elaborate headdresses.

    Men and women from Kalash dance and sing in a circle while drum beats create a rhythm.

    The Kalashi people share milk with their loved ones as a kind of prayer for the protection of their farms and livestock during this holiday.
    The event, which drew a wide range of attendees, including foreign tourists as well as officials from the district administration and tourism office, was scheduled across three days.

    For the festival, the district government made sure there were enough security measures in place, and the Tourism Police assisted guests.

    The event, which features customary dances and ceremonies, is a joyful and exciting occasion. The Kalash people will then move their livestock to higher pastures.

  • Indian influencer Dolly Singh and Hania Amir call each other ‘queen’

    Indian influencer Dolly Singh and Hania Amir call each other ‘queen’

    Hania Amir’s social media is full of photos showing her easy-dimpled smile but the actor also uses her online platform to speak up for mental health. So, when Indian actor and influencer Dolly Singh shared a post about fighting body shaming, Hania felt compelled to reshare it on her own Instagram story.

    Singh, who has faced years of negative comments about her body shape, wrote a post about her struggles with weight gain and loss. She ended with a powerful message about how she had overcome unwanted judgment.

    “Like most people, my weight goes up and down,” began Dolly. “Being naturally skinny, I tend to lose weight easily, and it’s hard to gain it back.”

    Dolly added that she no longer worries about what others say about her weight, “I love my body in every state because it supports me. I grew up despising my body, hating every bit of it, so this…this is growth.”

    Even though she’s come to terms with her body, Dolly noted that not everyone around her was as understanding, so she set boundaries for her mental well-being. “The other day, as I was about to see someone, I decided against it because I realised they’re not my safe space,” she wrote.

    Dolly explained that she had distanced herself from people and places that didn’t make her feel loved and accepted. She urged her fans and followers to be the change others needed to see. “If you could do something today, try to be someone’s safe space,” she encouraged in her post. “And count your own blessings from people in your life who don’t care about the kilos fluctuating but the smiles on your face.”

    Moved by Dolly’s powerful words, Hania wrote, “It takes a lot of courage to face your fears and insecurities, turn every mean comment into your armor, and try to give your community something positive out of the negativity you received. You’re a queen! Thank you for this strong message!”

    Dolly Singh then reshared this on her Instagram story and wrote, “Hania you’re a queen.”

    As people with large followings keep sharing positive messages against body shaming and their struggles, their message might slowly spread throughout society.

  • Momal Sheikh’s sparking birthday bash with family and friends

    Momal Sheikh’s sparking birthday bash with family and friends

    Model and actor Momal Sheikh recently celebrated her birthday surrounded by family and friends. Hasan Rizvi, one of her closest friends, also celebrated his birthday recently. Celebrities like Masha Pasha, Ali Rehman Khan, Junaid Khan, and Ali Ansari were present at the star-studded bash.

    Here are some beautiful pictures from the celebration:

  • Climate experts to get 10-year visa in UAE

    Climate experts to get 10-year visa in UAE

    Environmental experts will now be able to get a 10-year residency permit in the UAE called the Blue Visa.

    The decison was made in light of UAE’s commitment to environmental conservation, reports Khaleej Times.

    The special visa is for the individuals who are actively working towards improving the environment through conservation efforts, advocacy, research and other initiatives.

    Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum announced the introduction of the Blue Visa via social media channels.

    Climate experts working across various areas, be it marine, terrestrial or atmospheric, are encouraged to apply for the Blue Visa.

    This decision has come at a time when the Middle East is experiencing unprecedented climate changes such as heavy rains.

    Traditionally, UAE residency visas’ validity lasts two years.

  • Aik waqt main dou logon say bhi muhabbat ho sakhti hai: Nadia Afghan

    Aik waqt main dou logon say bhi muhabbat ho sakhti hai: Nadia Afghan

    Veteran actress Nadia Afghan recently shared her opinions on the idea of giving up one’s self for love, calling it illogical and unjustified. During a recent appearance on a ‘Mazaq Raat’ episode
    During the conservation, Nadia was quite against the concept of dying for love during the debate, saying that it is nonsense. “Dying for love is just silly. It’s not true at all. Thinking someone would give up their life for another because of love doesn’t make sense.”

    She said that, “Its possible to love more than one person at the same time, despite the common belief that you can’t love multiple people at once.”
    Nadia said, “Different types of love can exist at the same time. One person might understand you well mentally, while another is crucial for your everyday life.”

    She further added, “It only takes four weeks to forget any love; someone who can keep their mobile phone off and cut off all contacts for four weeks can easily forget their love.”
    Nadia shared, “I often find myself advising young actors on love matters during shoots. It is an easy task to forget someone and live a peaceful life without them; it only takes four weeks to forget anyone.”

  • Pakistan’s total debt skyrockets to Rs 81 trillion

    Pakistan’s total debt skyrockets to Rs 81 trillion

    Bad news for Pakistanis as the country’s total debt and liabilities increased to a record of nearly Rs 81 trillion in the past year.

    Pakistan is currently going through a severe and difficult economic crisis as it tries to increase revenue generation and reduce all its debts, however, no silver lining yet.

    The collective debt and liabilities are approximately 15 percent of the nation’s GDP, higher than the statutory limit defined in the Fiscal Responsibility and Debt Limitation Act.

    The reason for such a stark increase in the debt is due to a lack of major foreign investment in the country even though Pakistan secured yet another IMF bailout package.

    Austerity measures have so far remained theoretical as the government has failed to cut off unnecessary expenses of the bloated government. For instance, Prime Minister Shehbaz Sharif earlier approved grants to provide awards to officers of the Prime Minister’s Office and Defence Production.

    Meanwhile, additional funds have also been allocated for the renovation of the PM’s Office and for providing subsidies to Azad Jammu & Kashmir.

  • Who leaked Khan’s image from Supreme Court?

    Who leaked Khan’s image from Supreme Court?

    The Supreme Court (SC) has started an investigation after Pakistan Tehreek-e-Insaf (PTI) released an image of former Prime Minister Imran Khan from today’s hearing in the National Accountability Bruea (NAB) amendments case.

    The picture appears to have been snapped during today’s hearing when the former Prime Minister appeared before SC via video link in the case related to changes in NAB laws.

    The bench comprises Chief Justice of Pakistan (CJP) Qazi Faez Isa, Justice Aminuddin Khan, Justice Jamal Khan Mandokhail, Justice Athar Minallah, and Justice Hasan Azhar Rizvi.

    Imran Khan is currently in Adiala jail on multiple sentences.

    The photo is the first image taken after Imran’s arrest from Zaman Park in Toshakhana reference last year.

    The image released by PTI showed that Imran Khan is sitting on the chair wearing a blue shirt with the sleeves folded.