Category: Karachi

During the past 20 months, Pakistani businessmen and rich individuals have not only been investing heavily in Dubai’s real estate but also establishing export-import trad­ing houses there, media reported.

While Khan’s loyalists emerged victorious, those who betrayed him received humiliating drubbing despite having the support of the powerful circles in the country, The Express Tribune reported.

At least 11 people died while several others were injured in a stampede inside the premises of a factory at the Naurus intersection in Karachi's SITE area on Friday, the latest incident in which people lost their lives while seeking free edibles, media reports said.

At least three attackers were killed and 10 people wounded on Friday night when a group of terrorists opened fire at the headquarters of Karachi police in south Sindh province, officials said.

At least two terrorists were killed during an ongoing exchange of fire in and outside the office of the Karachi police chief as militants stormed the building located on Sharea Faisal, media reports said citing Sindh Inspector-General Ghulam Nabi Memon.

Loose milk, which has been increased to Pak Rs 210 from Pak Rs 190 per litre by some shopkeepers and live broiler chicken which has seen an increase of Rs 30-40 per kg in the last two days, taking the cost to Rs 480-500 per kilogram, Dawn reported.

Pakistans foreign exchange reserves held by the central bank decreased by 5.5 per cent or $170 million to $2.91 billion in the week ending February 3, the State Bank of Pakistan said on Thursday, deepening the economic woes of the crisis-stricken country, media reports said.

The locals tortured the two men before burning them alive, rescue sources said. The two men died on the spot and their bodies were shifted to a nearby hospital, they added, The News reported.

The Pakistani rupee on Friday plunged to a historic low against the US dollar after Prime Minister Shehbaz Sharif said that the International Monetary Fund (IMF) is giving Pakistan "a tough time" - as the lender wants the government to do more on the economic front, local media reported.

The Pakistani rupee resumed its downwards slide on Thursday after two modest sessions as the "optimism surrounding the government and IMF talks scaled back", local media reported.

The Pakistani currency maintained a freefall for a second consecutive day, plunging by a fresh 4.78 per cent (or Rs 12.87) to a new all-time low of Rs 268.30 against the US dollar on Friday, media reports said.

Following the rupee's devaluation in the open and interbank markets, the benchmark index of the Pakistan Stock Exchange (PSX) rallied and gained by more than 1,000 points, as per media reports.

Pakistans central bank forex reserves have plunged to their lowest level since February 2014 after a decline of 22.11 per cent, posing a serious challenge for the country in financing imports, local media reported.

Pakistan successfully made a repayment of $1 billion against a matured international Sukuk (Shariah-compliant bond), three days ahead of schedule on Friday, dismissing the perception of its default on the payment, local media reported.

Pakistan Foreign Minister Bilawal Bhutto Zardari said on Saturday that Pakistan has summoned US Ambassador to Pakistan Donald Blome for an official demarche following US President Joe Biden's remarks about the country's nuclear assets, media reports said.

Pakistan's volatile rupee (PKR) became the "worlds best performing currency" in the week that ended on October 7, as it made the largest gain of 3.9 per cent over five working days to 219.92 PKR to a dollar on expectation of significant foreign currency inflows.

Former Pakistan Finance Minister Miftah Ismail termed his country a "one-per cent republic" that offers no upward social mobility to an overwhelming majority of its citizens, Dawn reported.

A Chinese national was shot dead and two others were injured on Wednesday after an unidentified assailant opened fire inside a dental clinic in Karachi's Saddar area, a police official said, the media reported.

Pakistan is continuing to report more and more dengue virus cases daily, with panic and fear spreading among the public as a shortage of fever medicines has also surfaced, media reports said.

Pakistan's Department of Archaeology has called for urgent attention towards conservation and restoration work at Mohenjo Daro, apprehending that the site may be removed from the world heritage list if such work was not carried out, media reports said.

Earlier in July, a Hyderabad-bound flight from Sharjah made an emergency landing at Karachi Jinnah's International Airport on July 17, due to a technical issue reported by the pilot after which the IndiGo aircraft was examined at the Karachi airport.

Leading businessmen at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) analysed the looming threat of a Sri Lanka-like economic emergency as the dollar hit an all time high against the local currency, local media reported.

The Pakistani rupee on Monday plunged to an all-time low of 215 against the US dollar in the interbank trade, according to the Exchange Companies Association of Pakistan (ECAP) as the ruling PML-N's thrashing in the Punjab by-elections has triggered political uncertainty in the country, The News reported.

Shahid Rasool, the executive director of Jinnah Postgraduate Medical Centre (JPMC), said that one person had been killed. His body was moved to JPMC, located a few kilometres from the blast site.

Responding to Malik's accusations, Maryam Nawaz tweeted that her ailing mother lying unconscious in the ICU should have been accorded the same respect that PM Khan wants for his wife, the report said.