Author: newsdesk

  • SBP seeks design ideas from students, designers for new banknotes

    SBP seeks design ideas from students, designers for new banknotes

    In a significant move to enhance security features and align with technological advancements, the State Bank of Pakistan (SBP) has kicked off the process of designing and issuing a new series of banknotes covering all existing denominations.

    The SBP, in an official statement released on Tuesday, emphasised the complexity of the issuance process, which involves multiple meticulous steps and stages that demand careful planning and coordination among various stakeholders. Despite the general timeline of 2-3 years for launching a new banknote series, the SBP aims to expedite the process and complete it within the next two years.

    As an initial step towards the design process, the SBP has organised an art competition for the new banknote series. This competition is expected to yield diverse and creative ideas and themes that will form the basis for the subsequent phases of development.

    The finalised concepts will be shared with renowned professional banknote designers, who will be selected through a competitive process to transform these ideas into the final printable designs for each denomination.

    The final designs will then undergo scrutiny by the federal government for approval, ensuring that they meet the necessary standards and security features. The SBP assured the public that the existing banknote series would continue to remain in circulation even after the introduction of the new series.

    Any decision regarding the withdrawal of the existing banknotes will be executed gradually and in a phased manner, contingent upon the successful issuance and sufficient circulation of the new banknotes.

    The central bank highlighted that the periodic introduction of new banknote series, occurring approximately every 15–20 years, is a common practice among central banks. This practice aims to bolster the integrity of banknotes and integrate the latest technological developments in design and security features, ensuring a secure and reliable currency system for the nation.

  • Gold price surges by Rs700 per tola, reaching Rs216,100 in domestic market

    Gold price surges by Rs700 per tola, reaching Rs216,100 in domestic market

    The domestic bullion market experienced an upswing on Tuesday as the price of 24-karat gold surged by Rs700 per tola, reaching Rs216,100.

    This price hike was reported by the Karachi Sarafa Association, which also noted a Rs600 increase in the 10-gramme 24-karat gold, now standing at Rs185,271. The 10-gramme 22-karat gold was priced at Rs169,832.

    In contrast, silver prices remained stable in the domestic market, with 24-karat silver being sold at Rs2,600 per tola and Rs2,229.08 per 10-gramme.

    The sudden spike in domestic gold prices can be attributed to the rise in international prices. Currently, international spot gold is trading at $2,039.598, marking a 0.24 per cent increase compared to the previous session’s closing.

    Last week, we witnessed the second consecutive weekly loss in the international gold market due to diminishing expectations of a rate cut. However, the recent escalation of tensions in the Middle East has triggered a surge in the demand for safe-haven assets, particularly gold, signalling a bullish trend.

    Despite the persistent pressure on domestic gold caused by the continuous strengthening of the Pakistani Rupee (PKR), the market dynamics shifted due to the sudden upturn in international prices.

    The impact of the PKR’s strength was outweighed by the growing appeal of gold in the wake of geopolitical uncertainties.

    Investors and analysts are closely monitoring the evolving situation both domestically and internationally as they assess the potential impacts on precious metal markets.

    The fluctuating trends in gold prices highlight the intricate relationship between global events and their influence on the financial landscape.

  • Pakistani rupee appreciates by 9.32 paisa against US dollar

    Pakistani rupee appreciates by 9.32 paisa against US dollar

    In the latest interbank session on Tuesday, the Pakistani rupee (PKR) displayed resilience, appreciating by 9.32 paisa against the US dollar. The closing rate settled at PKR 279.55, marking a positive shift from the previous day’s closing at PKR 279.64 per USD.

    During the trading day, the local currency experienced an intraday high (bid) of Rs279.66 and a low (ask) of Rs279.6. In the open market, exchange companies quoted the dollar at Rs278.71 for buying and Rs280.86 for selling.

    In a significant development, the central bank opted to maintain the policy rate at 22 per cent, a decision unchanged for the fifth consecutive meeting. This decision is amidst the Pakistani rupee’s consistent upward momentum, celebrating its eleventh consecutive weekly victory against the US dollar.

    Against other major currencies, the PKR demonstrated strength. It gained 29.66 paisa against the euro, closing at 302.68 compared to the previous value of 302.98. The British Pound became more affordable by 53.78 paisa, closing at 354.86 compared to 355.4 from the previous day.

    The Swiss Franc witnessed gains of 45.64 paisa, closing at 324.6 compared to 324.15 from the previous session.

    However, against the Japanese yen, the PKR experienced a marginal loss of 0.6 paisa, closing at 1.898 versus 1.892 a day ago. The Chinese Yuan, on the other hand, gained 0.5 paisa, closing at 38.9514 against 38.9464 from the previous session.

    The Saudi Riyal closed at 74.54 with a loss of 2.58 paisa from its value of 74.57 a day ago, while the U.A.E. Dirham decreased in value by 2.54 paisa from 76.136 a day ago to 76.111.

    Reflecting on the broader financial landscape, during the current financial year, the PKR has appreciated against the dollar by 6.44 rupees, or 2.3 per cent. Meanwhile, the current calendar year has witnessed the PKR appreciate by 2.31 rupees, or 0.83 per cent.

    In the money market, the benchmark 6-month Karachi Interbank bid and offer rates experienced a modest increase of 13 basis points, reaching 20.58 per cent and 20.83 per cent, respectively.

  • ‘Getting teary-eyed upon mention of my mother is my trauma response’, Bilawal opens up about mental health

    ‘Getting teary-eyed upon mention of my mother is my trauma response’, Bilawal opens up about mental health

    Chairman Pakistan People’s Party (PPP) Bilawal Bhutto-Zardari talked about mental health, climate change, politics and other issues in The Centrum Media’s podcast with Talha Ahad. Bilawal’s conversation about mental health and climate change was the most relatable by any Pakistani politician.

    When asked how he copes with the trauma of losing so much, especially his mother Benazir Bhutto who was assassinated, and if it has had any impact on his mental health, Bilawal responded candidly. He related the events that unfolded on December 27, 2007. He was in Dubai for his winter break from Oxford when his mother went to Pakistan for the election campaign. He was in Dubai with his father Asif Ali Zardari and his siblings when he heard the news about the attack on television. He was shocked and afraid. It was traumatic. He said he doesn’t even remember the conversation he had with his sisters about this.

    Bilawal Bhutto said that mental issue is a real issue but we do not take it seriously like we do with other diseases. “Your mind is just like any other part of your body,” he emphasised.

    Bilawal said he never went to seek therapy or even talked to a counsellor after having lost so much. He moved on from it like a traditional Pakistani, thinking he should just ‘man-up’ and face it without seeking help. He acknowledged that it was years later that he started reading and understood what he was going through. It was partially because of the “macho” attitude of a typical Pakistani.

    Bilawal admitted he feels the loss of his mother every day but he has learned to make this feeling of loss his strength instead of a shortcoming.

    Bilawal went on to explain his vision for dealing with mental health issues in Pakistan. He wants an “update” in the system. He wants to set up facilities through public-private partnership if he comes in power after elections.

    When asked if he meditates, Bilawal admitted that he tried it but hasn’t done it consistently because he lacks consistency. He watches Netflix shows in his free time. When asked when was the last time he cried, Bilawal said he does not remember.

  • Let’s delve into Zain’s incredible journey at the Copernicus Olympiad in Houston, Texas, where the stage was set against the backdrop of the iconic NASA

    Let’s delve into Zain’s incredible journey at the Copernicus Olympiad in Houston, Texas, where the stage was set against the backdrop of the iconic NASA

    Let’s delve into Zain’s incredible journey at the Copernicus Olympiad in Houston, Texas, where the stage was set against the backdrop of the iconic NASA. Picture this: Zain not only took home the gold medal but also proudly claimed the first position, outshining 500 students from 22 countries. Now, that’s no small feat – it’s a colossal win that’s making waves beyond borders and truly making Pakistan beam with pride on the world stage.

    As Zain stepped foot into NASA, it wasn’t just a visit – it was a voyage into the heart of scientific exploration. And there, amidst the brilliance of the space station, he emerged as the undeniable champion, clinching the first spot with a flair that left everyone in awe. It’s not just a victory; it’s a narrative of triumph, determination, and passion for discovery.

    From January 9th to January 13th, Zain not only showcased his talents in a lively talent show, representing Pakistan with flair, but also demonstrated his prowess by effortlessly solving 2×2, 3×3, and 4×4 Rubik’s cubes.

    Zain’s adventure extended beyond the competition as he delved into the cutting-edge world of space exploration at NASA. This victory isn’t merely a personal triumph; it’s a source of immense pride for Zain’s parents, school, and his home country, Pakistan. The Copernicus Olympiad not only champions academic excellence but also fosters cultural exchange among students worldwide.

    Physics and astronomy, as Zain’s success highlights, go beyond textbooks. They unravel the mysteries of the universe, giving us a profound understanding of our place in the cosmos. Zain’s journey, with NASA at its pinnacle, is a testament to the spirit of curiosity and dedication that propels scientific exploration.

    In the grand tapestry of scientific inquiry, Zain’s win, accentuated by his visit to NASA, shines brightly, underscoring the curiosity that fuels our collective journey to understand the wonders of the universe.

    So, as we celebrate Zain’s achievement, let’s not just see it as winning a medal. Let’s see it as a moment where a young talent, with a zest for knowledge, stood at the forefront, showcasing that the pursuit of excellence knows no boundaries. It’s a story that echoes far and wide, reminding us that dreams can indeed take us to the stars – or in Zain’s case, into the heart of NASA’s brilliance.

  • Powering up PSL: Multan Sultans and The Current join hands to BREAK THE INTERNET

    Powering up PSL: Multan Sultans and The Current join hands to BREAK THE INTERNET

    Pakistan Super League’s one of the most successful franchise Multan Sultan has joined Pakistan’s first digital news platform ‘The Current’ as Digital Media Partner for PSL season 9.

    Now Multan’s fans will be able to see behind-the-scenes content through The Current.

    The MOU signing ceremony takes place at The Current’s headquarters in Lahore.

    Multan Sultans General Manager Hijab Zahid: “We are delighted to have The Current as our Digital Media Partner. Over the years, The Current has established itself as a credible and respected platform through its unique and innovative news coverage, and considering how Multan Sultans, as a team, has been at the forefront of innovation on and off the field, this is a perfect partnership.

    “I am sure the Multan Sultans and Pakistan cricket fans will enjoy The Current’s content during the HBL PSL.”

    The Current Founder Marium Chaudhry: “The presence of Multan Sultans has modernised the brand of the HBL PSL as they have undertaken exemplary inclusivity initiatives and perfectly blended the use of data and analytics on the field. We are huge Multan Sultans fans and are looking forward to be their digital media partners, cheering them on as they ace to win this year’s HBL PSL cup.

  • King Charles’ charity distances itself from Rahat after violent video

    King Charles’ charity distances itself from Rahat after violent video

    The British Asian Trust, a charity founded by King Charles III, has announced its decision to sever connections with Ustad Rahat Fateh Ali Khan after a video of the singer slapping and assaulting a band member, went viral.

    A spokesperson for the anti-violence organization stated that they chose to disassociate with Rahat after a careful review of the video. The Trust, with a stringent policy against abusive behavior, strongly condemned any form of violence, regardless of the circumstances.

    Over the weekend, the Trust issued a statement, asserting, “We take all accusations of abuse seriously and will look into this urgently.”

    The footage captured Rahat attacking a band member in Houston, Texas, last year, employing slaps, kicks, and even his shoes, while the person pleaded for him to stop.

    In response to the controversy, Rahat addressed the matter on Saturday night, offering clarification that the situation in reality differed from what appeared in the video.

    Meanwhile, the individual identified as his student stated that the “bottle” being mentioned in the viral video contained healing water given by a spiritual leader, which he had misplaced.

    “He is like my father, my teacher. God knows how much he loves us. Whoever has done this, is simply blackmailing my teacher to defame him,” he added.

    “The video is an internal matter of a teacher and a student. We do love a student over a good deed, as well as punish him if he commits a mistake,” the star singer said in a video statement issued on his official Instagram account.

    “I forgot a bottle of water which was given by my pir (spiritual healer). I also apologised to my student at the same time,” he said referring to the “student” as Naveed Husnain.

    In another video, Husnain explained that Rahat had apologized to him for their previous disagreement, leaving him feeling “embarrassed.” Husnain clarified that Rahat is his teacher, and he can handle the situation however he wants.

    Rahat Fateh Ali Khan has also met King Charles as the ambassador of the trust. The British Asian Trust, established by Charles in 2007, aims to address poverty and foster community relations.

    Known as the greatest living singer in the Qawwali genre, popular in Pakistan, Rahat’s origins are rooted in the poetry and music of Islamic mystics, known as Sufis.

    Back in February 2017, Prince Charles appointed Pakistani singer Rahat Fateh Ali Khan as the ambassador of the British Asian Trust during the trust’s fourth annual dinner at the Guildhall.

    The announcement was made by Prince Charles, the President of the trust, during the event attended by over 450 supporters and ambassadors, including the Duchess of Cornwall. The occasion successfully raised £850,000 to support the trust and its projects in South Asia.

    The trust actively runs various projects in South Asian countries, and Rahat Fateh Ali Khan’s performance at the event received praise. Notable Pakistanis currently associated with the Trust include prominent industrialists Mian Mansha from Lahore and Lord Zameer Chaudhry from London.

    Rahat Fateh Ali Khan said: “I am delighted that the Prince of Wales announced that I will be working closely with the British Asian Trust as an ambassador to further support their work in transforming lives across South Asia.”

  • Why does Bushra Ansari think Yumna Zaidi is lucky?

    Why does Bushra Ansari think Yumna Zaidi is lucky?

    Our favourite actress Yumna Zaidi says that the secret of her success is her positive thinking and firm belief.

    Yumna Zaidi recently gave an exclusive interview to the British Broadcasting Corporation (BBC) in which she talked about her unique roles in dramas.

    During the interview, the actress was asked how she selected her roles.

    “I should like the role because if I like it, then my fans will like it,” she replied.

    She said that veteran actress Bushra Ansari told her that she is “lucky to get good roles because there are many talented actors in the industry but not everyone gets a chance to show their talent.”

    She continued, “I think my positive thinking along with being lucky and my firm belief in Allah is the reason for my success.”
    Pointing out that she has worked hard to achieve whatever she has so far in life, Yumna said that she believes that “I will succeed and with the passage of time.”

    She adviced readers to aim for whatever they want to achieve and then work hard with the belief of success. “Not everything is achieved by luck alone,” she remarked. “I have never won a lucky draw. You should not be lazy, there are stages, you should enjoy every stage of your life.”

  • Imran’s government more corrupt than Shehbaz Sharif’s: Transparency International

    Imran’s government more corrupt than Shehbaz Sharif’s: Transparency International

    During the Pakistan Democratic Movement (PDM)-led government in 2023, Pakistan made improvements in its ranking on the Transparency International (TI) Corruption Perceptions Index (CPI).

    The improvement in ranking shows that corruption decreased during the Shehbaz Sharif-led government as compared to Pakistan Tehreek-e-Insaf (PTI) founder Imran Khan’s tenure from 2018–2022.

    According to TI’s previous report, corruption in Pakistan increased since 2018.

    Imran Khan promised to wipe out corruption in Pakistan when he came into power. However, during his tenure, Pakistan’s ranking on the global corruption index went down, the opposite of what he had promised.

    According to a TI report released on Tuesday, Pakistan is now on number 133 among 180 countries.

    The previous report ranked Pakistan at 140, while the country’s overall score fell to 27 in the same year — the lowest since 2012.

    The recent report from TI indicates that Pakistan’s score on CPI increased by two points from 27 to 29. Additionally, the country’s rank has improved by 7 positions.

  • Bride who looks like Babar Azam’s twin breaks the internet

    Bride who looks like Babar Azam’s twin breaks the internet

    A picture of a bride, who looks like Babar Azam, has broken the internet. The Pakistani batting master’s fans are surprised at the extent to which the bride resembles Azam.

    Fans first thought that the images might be AI-generated, but the reality turned out to be quite the opposite, as these are the wedding images of a girl from India.

    The bride’s name is Sarumi, while the photos were uploaded on ‘Fada Makeover’, an Indian makeup artist’s Instagram page.

    The said photos were released on the page on January 1. The post has been removed, while the Instagram story of the bride’s look is still on the account.