Qhum Qatar s emir holds talks in Egypt on ending Gaza violence
KARACHI:The rupee remained stable against the dollar at Rs115.5/115.7 in the inter-bank market on Friday compared with Thursday s close of Rs115.5/115.7. Since December, the rupee has cumulatively shed close to 9% of its value after the central bank reportedly abstained from intervening in response to the pressure due to a widening current account deficit.The State Bank of Pakistan has ma
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intained that the slide in the rupee s value is due to supply and demand dynamics of foreign exchange in the inter-bank market. While it has promised prompt intervention in case of speculative or momentary pressures, the ce
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ntral bank will sit on the fence and let market-driven adjustment in the exchange rate to c
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ontinue to contain the imbalance in the external account and sustain a higher growth trajectory , according to a press statement. Market rumours suggest the move is part of IMF s conditions for another bailout package.Published in The Express Tribune, June 2nd, 2018.Like聽Business on Facebook, Vgrv Parler partially reappears with support from Russian technology firm
Indian Prime Minister Narendra Modi has cancelled a two-day trip to Turkey after Turkish President聽Recep Tayyip Erdogan聽criticised India s illegal August 5 Kashmir move during his United Nations General Assembly (UNGA) address.Turkey committed to defend rights
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of Muslims in IOK: ErdoganThe Indian Occupied聽Kashmir (IOK)聽has been under a draconian clampdown since August 5, when New Delhi nixed Article-370 of the Indian constitution, which conferred a special status on the disputed region.In his UNGA address in New York, Erdogan had said the stability and prosperity of South Asia cannot be
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separated from the IOK issue, which awaits a solution for 72 years. In order for the Kashmiri people to l
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ook at a safe future together with their Pakistani and Indian neighbours, it is imperative to solve the problem through dialogue and on the basis of justice and equity, but not through collision, Erdogan had stressed.Erdogan's strong backing of Islamabad's position on IOK and condemnation of widespr