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Rupee’s Performance Against US Dollar Since 04 March 2025 The Pakistani rupee declined further against the US dollar, depreciating 0.07% in the inter-bank market on Friday. At close, the local currency settled at 281.71, a loss of Re0.19 against the greenback. On Thursday, the rupee closed the day at 281.52. Internationally, the US dollar headed for a weekly gain on most major peers on Friday as a U.S.-UK trade deal raised hopes of progress in looming US-China talks, while bets of imminent U.S. rate cuts receded after the Federal Reserve indicated it was in no hurry. Financial markets are heading…

Mari Energies Limited, formerly Mari Petroleum Company Limited (MARI), has discovered gas production from its Soho-1 exploratory well in the Sujawal Block located in Sindh. The E&P, which is the operator of Sujawal Block with 100% working interest, disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Friday. “Mari Energies Limited is pleased to announce a gas discovery at Soho-1 exploratory well drilled in the Sujawal Block, located in Sujawal district, Sindh,” read the notice. The company shared that it tested gas production at two different choke sizes. At 64/64“ choke, the well produced 30.01 million…

Three Chinese men have been arrested in Japan after several thousand protected land hermit crabs were found in their suitcases as police investigate whether the suspects intended to sell or keep the “natural monuments” as pets.The alleged smuggling came to light when staff from a hotel where the visitors stayed in the southwestern city of Amami alerted environmental officials.The guests “had asked the hotel to watch their suitcases, and the suitcases made a rustling noise” on Tuesday, police told The Japan Times newspaper.Police detected thousands of the spiral-shelled hermit crabs, weighing around 160kg (353lbs) in total, inside the six suitcases…

At China’s fortress-like embassy in the leafy suburbs of Brussels on Tuesday, wine and beer flowed as around 800 guests – including senior EU officials and diplomats from the United States – were offered hardback copies of Xi Jinping Thought, in several European languages, and ate from a lavish Chinese buffet.Earlier that day, an estimated 1,500 people gathered at the EU’s embassy in Beijing, while a smaller event took place at the European Parliament in Strasbourg on Wednesday – all commemorating the 50th anniversary of China establishing diplomatic relations with the European Union.Leaders exchanged warm congratulatory letters stripped of the…

After declining a record 6,500 points on Thursday, the Pakistan Stock Exchange (PSX) staged a strong comeback on Friday. The benchmark KSE-100 Index gained over 2,200 points during the trading opening hours. At 9:40am, the benchmark index was hovering at 105,759.27, an increase of 2,232.46 points or 2.16%. Buying momentum was observed in key sectors, including automobile assemblers, cement, commercial banks, oil and gas exploration companies, OMCs, and power generation, which traded in the green. Index-heavy stocks, including HUBCO, MARI, OGDC, PPL, POL, PSO, and SNGPL, also traded in the green. “After falling sharply by 6% yesterday due to drone…

OSLO, Norway (AP) — Danish Prime Minister Mette Frederiksen told The Associated Press “you cannot spy against an ally” after reports that the United States has stepped up intelligence gathering on Greenland, a semi-autonomous Danish territory coveted by U.S. President Donald Trump.Frederiksen’s comments Friday are the latest in the spat between Denmark, Greenland and the United States because Trump seeks to annex the strategic Arctic island. Denmark and Greenland insist that the mineral-rich island is not for sale, while Trump has not ruled out taking it by military force even though Denmark is a NATO ally.The Danish prime minister spoke…

OSLO, Norway (AP) — Danish Prime Minister Mette Frederiksen told The Associated Press “you cannot spy against an ally” after reports that the United States has stepped up intelligence gathering on Greenland, a semi-autonomous Danish territory coveted by U.S. President Donald Trump.Frederiksen’s comments Friday are the latest in the spat between Denmark, Greenland and the United States because Trump seeks to annex the strategic Arctic island. Denmark and Greenland insist that the mineral-rich island is not for sale, while Trump has not ruled out taking it by military force even though Denmark is a NATO ally.The Danish prime minister spoke…

In Donald Trump’s first term, US trade negotiators encountered a familiar interlocutor in China: Liu He, a Harvard-educated, English-speaking adviser to Xi Jinping who supported many of the same economic reforms that Washington had sought for years.Now, as the US and China search for a path back from an outright trade war, Beijing’s delegation will be led by vice-premier He Lifeng, a Xi acolyte expected to toe a firm line of resistance to Trump’s trade war.“He’ll probably be a more difficult interlocutor for the Americans,” said Andrew Gilholm, head of China analysis at consultancy Control Risks. While Trump claimed on…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldMexico is reaping the benefits of a US travel boycott by Canadians angry at the policies of President Donald Trump, with visitor numbers soaring as airlines add new flight routes into the country.The number of Canadian residents visiting Mexico climbed 15.6 per cent in March compared with the same month in 2024, according to the Mexican Secretary of Tourism.Canadian air travel to the US fell 13.5 per cent over the same period, while cross-border road trips were down about a…

Unlock the White House Watch newsletter for freeYour guide to what Trump’s second term means for Washington, business and the worldLast weekend in Washington, near the White House, dozens of economists from universities and institutions such as the IMF gathered to discuss the state of “geoeconomics”.Geo-what? some readers might ask. No wonder: until recently, this word was little used, since it seemed at odds with modern norms. That is because the phrase describes how governments can use economic and financial policies to play power games. But in the 20th century free-market intellectual framework — which is the one in which…