Tag: breaking

  • Prince Philip passes away at 99

    Prince Philip passes away at 99

    Queen Elizabeth II’s husband and the longest-serving consort of any British monarch Prince Philip has died at age 99.

    In a statement, Buckingham Palace said: “It is with deep sorrow that Her Majesty The Queen has announced the death of her beloved husband, His Royal Highness The Prince Philip, Duke of Edinburgh.”

    “His Royal Highness passed away peacefully this morning at Windsor Castle,” it added.

    The statement also said that further announcements will be made in due course.

    Philip, who retired from public duties in 2017, had earlier been admitted to hospital on February 16, 2021. He went back home after nearly a month during which he was treated for a pre-existing heart condition and an infection.

    His death comes just months before his 100th birthday in June — an event typically marked in Britain with a congratulatory message from the queen, who is now Britain’s longest-serving monarch.

    The couple, who celebrated their 73rd wedding anniversary in November, had been living largely in isolation at Windsor Castle, west of London because their advanced age put them at heightened risk from COVID-19. They received their first vaccinations against the virus in January.

    Officially known as the Duke of Edinburgh, Philip married Prince Elizabeth in 1947, five years before she became Queen and had been by his wife’s side throughout her 69-year reign, the longest in British history. During this time he earned a reputation for a tough, no-nonsense attitude and a propensity for occasional gaffes. He is also credited with playing a key role in modernising the monarchy in the post-World War Two period, and behind the walls of Buckingham Palace being the one key figure the queen could turn to and trust.

    “He has, quite simply, been my strength and stay all these years,” Elizabeth said in a rare personal tribute to Philip made in a speech marking their 50th wedding anniversary in 1997.

    Read more – ‘We’re not a racist family’: Prince William rejects Meghan’s claims of racism

    The couple had four children, eight grandchildren and 10 great-grandchildren.

  • ‘Dictator Maryam’ blamed for PDM’s downfall

    ‘Dictator Maryam’ blamed for PDM’s downfall

    Pakistan Muslim League-Nawaz (PML-N) vice president and key leader of the opposition alliance, Maryam Nawaz has been accused of having a “dictatorial attitude” that has also been cited as the reason behind the Pakistan Democratic Movement’s (PDM) downfall.

    As per the details, the Pakistan People’s Party (PPP) leaders travelled to Wali Bagh, the residence of Awami National Party (ANP) head Asfandyar Wali on Thursday and held talks with him and other party leaders on the evolving political situation in the country.

    The PPP and ANP are the two parties with which the PDM is having differences ever since ex-premier Yousuf Raza Gilani’s election as the Senate opposition leader — a move deemed as betrayal by other parties of the opposition alliance.

    The ANP has already announced to quit the PDM, saying the show-cause notices over voting for Gilani were an insult to the party.

    Briefing reporters after the meeting, Nayyar Hussain Bukhari and Mian Iftikhar Hussain said the PPP would take the decision of whether or not to quit the PDM at its Central Executive Committee (CEC) meeting scheduled later this month.

    They blamed the “dictatorial attitude” of Maryam Nawaz for the disintegration of the alliance.

    “The split in the PDM began with the issuance of the show-cause notice,” Mian Iftikhar Hussain said, adding, it was an insult to ANP and couldn’t be tolerated.

    Meanwhile, Nayyar Hussain Bukhari said the PPP had proposed Maulana Fazlur Rahman as the PDM head but the Jamiat Ulema-e-Islam-Fazl (JUI-F) chief adopted “a step-motherly attitude” towards the PPP. 

    “PPP is not subordinate to any political party.”

    He said that the PPP was ready for the “long march” to Islamabad and wanted to use resignations from the assemblies as the last option.

  • Forex reserves fall to $20.679bn

    Forex reserves fall to $20.679bn

    The Foreign Exchange reserves of Pakistan fell by $157 million or 0.75 per cent to clock in at $20.679 billion, said the central bank on Thursday.

    The total liquid foreign reserves held by the country stood at $20.836 billion in the previous week.

    The reserves held by the State Bank of Pakistan (SBP) decreased by $146 million to $13.527 billion due to external debt repayments. The reserves of commercial banks also reduced to $7.152 billion from $7.163 billion last week.

    Earlier, Pakistan received inflows amounting to $2.5 billion on Thursday evening as proceeds of recently launched Eurobonds.

    The central bank has confirmed on its Twitter account that SBP has received the government’s proceeds of $2.5 billion against Eurobond issuance, resulting in $16 billion surges in foreign exchange reserves. 

    After a gap of almost three years, Pakistan has entered the international capital market for Eurobonds trading. A multi-tranche transaction of 5-,10-, and 30- year Eurobonds was performed to build up the foreign exchange reserves. 

    During the past two years, Pakistan got almost $3 billion in foreign inflows and out of these, $2.5 billion from Eurobonds arrival on Thursday evening.

    Besides, in the last week of March, International Monetary Fund (IMF) gave around $500 million to Pakistan as a loan under Extended Fund Facility (EFF) for support. 

    As of April 2, 2021, SBP’s liquid foreign exchange reserves were $20.679 billion. With the addition of Eurobond proceeds, these foreign exchange reserves would likely cross the $23 billion mark.