The Pakistani rupee maintained its stability on Thursday, the fourth working day of the week, after regaining ground versus the US dollar in the interbank market.
Details indicate that the local currency rose by Rs3.12 versus the US dollar and was trading at roughly Rs229 at the time. The rupee had a Tuesday closing value of Rs232.12, according to statistics from Pakistan’s central bank.
With the most recent advances, the rupee has now returned to its record high of Rs239.94 by a total of Rs10.94.
Dar, who took over as finance minister from Dr. Miftah Ismail, declared on Wednesday that one of his primary goals is enhancing the value of the local currency.
Nawaz Sharif, the leader of the Pakistan Muslim League-Nawaz (PML-N) and a former prime minister, stated on Thursday that he wishes to return to Pakistan as soon as possible since it is impossible to spend even a single day outside the nation.
In the Avenfield reference case, the Islamabad High Court (IHC) today cleared PML-N Vice President Maryam Nawaz and her husband Capt (retd) Safdar. When Maryam Nawaz was acquitted in this case, the former premier [Nawaz Sharif] claimed in a chat with his colleagues that he had wished her well. Nawaz said, “The case against me and Maryam Nawaz was founded on politics.
Nawaz Sharif is reportedly planning a swift return to Pakistan. He began speaking with his coworkers about this.
NEW DELHI: Women’s rights advocates applauded the Supreme Court of India’s ruling on Thursday, which stated that a woman’s lack of marital status could not prevent her from choosing to abort a pregnancy at any time up to 24 weeks.After the US Supreme Court overturned in June its landmark Roe v. Wade decision, which had legalised the practise in the US, the right to an abortion has become divisive on a global scale.
A woman’s marital status cannot deny her of the right to an abortion, according to Justice D.Y. Chandrachud of India’s Supreme Court. “Even an unmarried lady can undergo abortion up to 24 weeks on par with married women,” he stated.The Medical Termination of Pregnancy (MTP) Act, which dates back to 1971, had only allowed married women, divorcees, widows, minors, “disabled and mentally ill women,” and survivors of sexual assault or rape to have the procedure.
Angelina Jolie, a well-known Hollywood star and UNHCR Goodwill Ambassador, spoke on her recent visit to Pakistan, where she saw the destruction brought on by extreme flooding that buried one-third of the nation’s territory.The Maleficent actress posted a number of photos on her Instagram account along with a sentimental statement.Jolie shared that 33 million people are affected, and over six million need emergency humanitarian assistance.
She wrote: “Pakistan also still hosts over a million Afghan refugees who are unable to return safely due to the current situation. Those I was able to reach were still in shock from having fled the Taliban, and now knowing the country they have fled to is in an emergency.””The level of trauma and compound trauma is severe. Please learn and follow what is happening. Be aware of the climate catastrophe that we are seeing more regularly,” the international humanitarian penned.
The sole Indian on the list is Akash Ambani, chairman of Reliance Jio, however someone from Canada made the list as a result of the song’s enormous popularity. With the help of the Punjabi song “Pasoori,” Pakistani musician Ali Sethi unexpectedly made it onto Time Magazine’s list of the 100 Next People to Watch. The song was created for Season 14 of Coke Studio Pakistan.
Despite the escalating hostilities between the two countries, Sethi and Shae Gill’s song Pasoori has gained a tonne of support in India and amassed almost 400 million YouTube views. Eventually, the first Pakistani song to chart on Spotify’s “Viral 50 – Global” chart reached the top.
Sethi’s greatest talent is his ability to employ the classical raga, a traditional musical genre from the area, to question and broaden ideas about gender, sexuality, and belonging. According to Time, Ali Sethi’s “Pasoori” is a masterful example of how artists may transcend the limitations that new forms of authoritarianism and intolerance are placing on them.
Sethi attended Harvard College from 2002 to 2006. He initially intended to major in Economics, but he ultimately changed to South Asian Studies. Along with contributing to The Harvard Advocate’s features board, Sethi annually performed for Ghungroo, the largest student-run programme at Harvard that focuses on the South Asian diaspora. Recently, Ali Sethi visited Harvard to perform the smash hit.
Imran Khan blamed the latest audio leak on Shehbaz Sharif, the prime minister, and others. “Well done on the leak. I believe the cypher should also be made public so that everyone is aware of the massive foreign plot that was created, he continued. “I’ve never even played on it. We will now play when they reveal it. After numerous audio leaks of senior government officials, a sound clip of former prime minister Imran Khan speaking about the US cypher, which he has repeatedly claimed was a threat letter to Pakistan, surfaced earlier on Wednesday.
When a journalist questioned him about holding talks or organising a sit-in, Imran Khan responded, “You will have to wait now.” Later, speaking at a seminar at the Punjab House in this city, Imran Khan expressed his happiness that Shehbaz Sharif’s office had learned that the audiotape of Azam Khan and Imran Khan had arrived; it violated the Official Secret Act, and he was considering taking Shehbaz Sharif to court or filing a case for Rs16 billion against him. Maqsood Peon and three other witnesses have been killed, making a total of four people connected to incident already deceased.
He once more addressed the most recent audio leak, saying that it was good that “you have brought the cypher, now make the whole cypher public and bring it before the nation that what language is a US Under Secretary Donald Lu using and how arrogantly he is telling the Pakistani diplomat that if you do not remove your prime minister in the no-confidence motion, Pakistan will have to face the consequences, and if you remove it, you will be forgiven.”
The entire nation should be aware of what Donald Lu said to ambassador Asad Majeed, according to Imran, who stated that he wished to reveal the cypher to the general public. The PTI leader criticised Sikandar Sultan Raja, the chief election commissioner, once more. “We’ll file a lawsuit against the chief election commissioner. The chief election commissioner is the worst person I’ve ever encountered. You believe that he is following orders from wanted, dishonest, corrupt, and convicted individuals regarding the deadline for accepting our resignations. He has been identified as a servant of the Sharif family, and he does it with no sense of shame.
On Wednesday, Google conducted its third annual Search On event and introduced more image-heavy search result alternatives.
Users may view visual narratives, brief movies, and advice on what to do from travellers to a place. Users will be able to zoom inside a restaurant and a neighbourhood to “get a feel for what it may be like,” according to Google. The business has introduced a 3D immersive function that lets customers examine lifelike images of cities and eateries.
Google said at its third annual Search On event on Wednesday that it is offering “immersive views” and “vibes” for select places, providing extra information in visual form so that consumers will be able to explore destinations before they arrive.
The most recent changes are part of the company’s effort to get consumers to stay on its search results pages longer rather than leaving to visit other websites. In order to expand its search capabilities beyond text and graphics, Google is redesigning its search features and tightening the integration of maps data. The corporation still receives the majority of its advertising income, which came to $56.3 billion in the most recent quarter, from search advertising.
The business said on Wednesday that it is expanding the search result possibilities for city searches to include pronunciation, history, beaches, and culture. Users may view brief films and images from visitors to the city, along with advice on what to see and do, the business announced on Wednesday.
Users will soon be able to zoom into a neighbourhood and a restaurant for “vibes,” according to Google officials, to “get a feel for what it may be like.” As a result of Google’s crowd-level data from that establishment, it also enables users to examine information on potential crowd sizes and weather forecasts for the days they intend to visit.
In order to make an informed choice about how to spend your time, you can quickly determine whether an area is artistic or has a vibrant culinary scene, the business said.
According to the business, the features integrate artificial intelligence with local data from the more than 20 million “contributions” that Google Maps users have made, including reviews, images, and videos. In the upcoming months, it will be available for Android and iOS worldwide.
Google also released actual aerial pictures of famous places across the world. According to officials, it would first launch in Los Angeles, London, New York, San Francisco, and Tokyo and feature “photorealistic” aerial views of 250 locations. Aerial images will be able to be combined with information on the weather, traffic, and people in the “immersive view.”
Chris Phillips, who oversees the Google Mapping business unit, often known internally as Geo, called the lifelike graphics a “major” step forward for the company’s maps offering.
Executives declined to comment on whether or how the new features will display advertisements.
Aamir Bashir, the official, noted that there had been concerns regarding the air hostesses’ dress when they arrived at their offices, stayed in hotels, and travelled to other locations.
He continued by saying that the air hostesses’ subpar clothing was damaging the PIA’s reputation.
The general manager of flight services issued a warning that flight attendants who disobeyed the rules would face harsh punishment.
Separately, the International Transport Workers Federation has voiced worry over the PIA pilots’ and flight attendants’ extended job schedules.
Aamir Hayat, CEO of PIA, has received a letter from the federation regarding the situation.
It stated that the national airline has just changed the cabin crew’s working hours on its own.
It was also mentioned that the cabin crew’s performance and productivity were being impacted by unilateral changes in working hours. In addition, the action was against the rules.
According to the letter, the issue needs to be handled right now in order to preserve human lives because excessively long working hours for pilots and air hostesses could result in mishaps.
The federation had already written the director general of the Civil Aviation Authority two years prior, it was further said.
The announcement that “Blonde,” Andrew Dominik’s biopic of Marilyn Monroe starring Ana de Armas, would be labelled NC-17, immediately sparked months of debate and interest. This is the result of the NC-17 rating, which makes it impossible for anyone under the age of 17 to purchase a ticket.
The X rating, which distributors had long loathed since it conjured up images of pornographic movies rather than just adult-skewing dramas with explicit scenes, was officially replaced by the NC-17 rating in 1990. However, despite having a rating that was below X, the NC-17 continued to court controversy and provoke shock in moviegoers. The rating, which is frequently assigned to movies with explicit or full-frontal nudity
Andrew Dominik’s Netflix drama “Blonde” is rated NC-17 for “sexual content,” most likely because it includes prolonged nude scenes and one extended sequence centered on John F. Kennedy sexually assaulting Marilyn Monroe while she’s nearly unconscious. Ana de Armas, who has earned career-best reviews for playing the Hollywood icon, said ahead of the film’s release that she was baffled by the movie’s explicit rating.
“I didn’t understand why that happened,” de Armas said. “I can tell you a number of shows or movies that are way more explicit with a lot more sexual content than ‘Blonde.’ But to tell this story it is important to show all these moments in Marilyn’s life that made her end up the way that she did. It needed to be explained. Everyone [in the cast] knew we had to go to uncomfortable places. I wasn’t the only one.”
Dominik added in a separate interview, “I was surprised. Yeah. I thought we’d colored inside the lines. But I think if you’ve got a bunch of men and women in a boardroom talking about sexual behavior, maybe the men are going to be worried about what the women think. It’s just a weird time. It’s not like depictions of happy sexuality. It’s depictions of situations that are ambiguous. And Americans are really strange when it comes to sexual behavior, don’t you think? I don’t know why. They make more porn than anyone else in the world.”
China’s yuan has hit fresh record lows against the surging US dollar.
The internationally-traded yuan fell to its lowest level since data first became available in 2011.
China’s domestic currency also reached its weakest point since the 2008 global financial crisis.
It comes as the dollar continues to rise in value against other major currencies, after the US central bank increased interest rates again earlier this month.
Meanwhile on Wednesday, major stock market indexes across Asia fell sharply.
Hong Kong’s Hang Seng index closed 3.4% lower, Japan’s benchmark Nikkei index closed 1.5% lower and the Kospi in South Korea ended the day down by 2.4%.
Many investors see the dollar as a safe place to put their money in times of trouble.
That has helped to drive up its value against other currencies, including the British pound – which hit an all-time low against the dollar on Monday.
Also on Wednesday, the dollar reached a fresh 20-year high against a closely-watched group of leading global currencies.
The yuan’s slide is yet another example of a currency weakening as a result of the strong dollar.
It is also about the very different paths China and the United States are taking in response to economic issues at home.
The People’s Bank of China (PBOC) has been easing interest rates to revive growth in an economy ravaged by Covid lockdowns, while the US Federal Reserve is moving aggressively in the opposite direction as it tries to control inflation.
Such a divergence is not wholly problematic, Joseph Capurso, head of international and sustainable economics at the Commonwealth Bank of Australia told the BBC.
The fall in the currency’s value can actually be helpful for exporters within China, he said, because it would make their goods cheaper and so could increase demand.
That said, exports only make up 20% of the Chinese economy these days, so a weak yuan will not turn around fundamental weakness domestically largely caused by Beijing’s zero-Covid strategy and a property crisis, said Mr Capurso.
A weaker currency can also lead to investors pulling their money out of the country and uncertainty in financial markets – something Chinese officials will want to avoid with the Communist Party Congress coming up next month.
The yuan’s fall has caused weakness in other currencies of developed economies in the region, including the Australian and Singapore dollar as well as the South Korean won.
Last week, the Bank of Japan intervened to support the yen for the first time since 1998, after the currency weakened against the dollar.
Asia’s emerging markets are vulnerable too – as they sell raw materials and components to China’s factories and so have increasingly become dependent on the yuan.
Washington has in the past accused China of intentionally devaluing its currency to keep exports cheap and imports from the US expensive.
While the strong dollar has rattled world markets, it is unlikely to deter the Fed from continuing to raise rates.
“The strong dollar is working for the US market,” Dimitri Zabelin at the London School of Economics’ foreign policy think-tank said.
TOPLINE Due to news of reduced iPhone 14 production, Apple shares fell on Wednesday amid a rise in the broader market, losing roughly $50 billion in market capitalization. However, analysts claim the decline is an uncalled-for knee-jerk reaction and maintain a positive outlook for the current iPhone cycle.
In early trading on Wednesday, Apple stock dropped as much as 4.4% to $145.03, a two-month low, after Bloomberg reported that the firm had abandoned plans to increase iPhone 14 manufacturing by as many as six million devices in the second half of 2022 owing to weak demand.
According to estimates from July, according to Bloomberg, Apple still expects to meet its target of 90 million iPhone 14 units produced in the second half of the year. Additionally, Morgan Stanley and Citi analysts each stated in notes published on Wednesday that their estimates for iPhone demand remained unchanged.
The demand for the iPhone 14 is “more bark than bite,” according to Morgan Stanley analysts.
According to Bloomberg, demand for the more expensive iPhone 14 Pro models is greater than that for the entry-level models. Wedbush analyst Dan Ives stated that “the iPhone 14 Pro demand is robust and this will enable Apple to power through near-term macro headwinds much better than anticipated by the Street.”
Even though Apple was the only company on the Dow Jones Industrial Average to lose value for the day, the stock rallied in subsequent trading to close down only 1.3% lower.
Indonesia’s banned the export of palm oil from April 28, resulting in a surge in edible oil prices. Edible oil rose to its highest prices ever — around 45 percent higher than its previous highs recorded in 2008 and then in 2011.
The ban was later scrapped, and Indonesia started waiving export levies. Palm oil is the most consumed cooking oil in the world, accounting for 40 percent of global consumption, followed by soyabean oil at 32 percent and canola oil at 15 percent. Palm oil accounts for nearly 60 percent of global vegetable oil shipments, and top producer Indonesia accounts for around a third of all vegetable oil exports. During the three-week export ban, Jakarta’s stocks ballooned to 6.69 million tonnes by end-June from around 4 million tonnes at the end-2021, back to 4.5 to 5 million tonnes by end-September. The government increased shipments to help bring down the stocks. The government was aiming to bring down local edible oil prices but, in the process, caused world prices to surge, hitting a record 7,268 Malaysian ringgit ($1,598) per tonne. Producers in Malaysia, the second-largest palm oil producer, along with rival oils like soy oil and sun oil, rushed in to grab Indonesia’s market share. Malaysia has also displaced Indonesia so far in the 2021/22 marketing year to end-October as the top palm oil supplier to India, according to SEA data. Indonesian producers are now taking back business from their Malaysian neighbours with aggressive discounting. Indonesian Trade Minister Zulkifli Hasan also urged India to buy more palm oil from his country when he visited India last month, Reuters reported quoting a senior industry official who attended the minister’s meeting with Indian buyers. Here’s how the drop affects Indian FMCG companies
As of 8:00 a.m. local time on Wednesday, according to the official data, 524 persons had been admitted to hospitals with the mosquito-borne illness in the previous 24 hours. This is the most admissions in a single day so far this year.
The DGHS, which is part of the Ministry of Health, reports that 373 persons in Dhaka alone have been diagnosed with dengue.
The number of dengue cases in the nation has increased to 9,165 so far this month as a result of the new illnesses recorded on Wednesday, according to the DGHS.
Bangladesh Hospital
The number of new infections reveals the rapidly expanding trend of the Aedes-borne disease in the capital city of Bangladesh.
After 1,571 people contracted the viral disease in July, 3,521 more cases of dengue were reported in August. The DGHS reports that 15,346 dengue cases have been recorded in Bangladesh so far this year.
The DGHS stated that although 34 deaths were reported in September, there were 11 deaths in August and 9 deaths in July.
Dengue fever season occurs during the June to September monsoon season in Bangladesh, a country with a high risk of mosquito-borne illnesses.
Due to inadequate biosecurity and disease surveillance, the nation, which has a population of roughly 165 million, is particularly susceptible to the virus.
In stagnant water like water-filled containers, Aedes mosquitos can breed.
Joint pain, nausea, vomiting, rashes, respiratory issues, haemorrhaging, and organ failure can all occur in severe dengue cases.
On Wednesday, the dollar surpassed a previous two-decade high versus a basket of currencies thanks to rising Treasury yields, while sterling remained close to a record low due to worries about Britain’s drastic tax cuts to boost development.
In Asian trading, the US dollar index reached a fresh high of 114.68 and was last up 0.42 percent at 114.62.
Standard US 10-year Treasury yields also increased, reaching a high of 4.004 percent for the first time since 2010. The yields for two years were 4.2912 percent.
“It’s a combination of the UK spillover, where the gilt yields have shot through the roof. There is a small ricochet impact because that has spread to other DM bond markets, according to currency strategist Moh Siong Sim.
In the background, the Fed has been adamant that it will do whatever it takes to reduce inflation.
The Fed’s aggressive attitude was reinforced overnight by Chicago Fed President Charles Evans, St. Louis Fed President James Bullard, and Minneapolis Federal Reserve Bank President Neel Kashkari. Evans stated that the Fed will need to hike interest rates to a range between 4.5pc and 4.75pc.
After only a slight 0.4 percent rebound the previous session, sterling was down roughly 1 percent to $1.0634. It was still suffering severe losses from its decline to an all-time low of $1.0327 at the beginning of the week.
Huw Pill, the chief economist at the Bank of England, stated tonight that the institution is likely to make a “major policy reaction.”
To put an end to market rumours of a probable interest rate increase in between meetings, he stressed that the central bank wishes to hold off until its upcoming meeting in November.
According to Carol Kong, senior associate for international economics and currency strategy at the Commonwealth Bank of Australia, “For the immediate term, I think sterling’s going to continue quite weak from here.”
“Basically, there is a confidence issue. Instead of the Bank of England, the UK government will be responsible for finding a solution.
On Wednesday, the strengthening dollar drove other currencies to multi-year lows, with the Australian dollar reaching a low of $0.6389, its lowest level since May 2020. To $0.5565, the kiwi fell by about 1%, matching its lowest level from March 2020.
The Chinese offshore yuan dropped to a record low of 7.2349 to the dollar in 2011, the year that such information became available.
The Chinese monetary authorities are pushing local banks to use a yuan fixing mechanism they abandoned two years ago in order to guide and protect the fast depreciating currency, a source told Reuters late on Tuesday.
The euro dropped 0.4 percent to $0.9555, not far from its most recent 20-year low of $0.9528, and the current gas crisis flare-up in the euro zone only made things worse for the single currency.
On Tuesday, Europe was looking into claims made by Germany, Denmark, and Sweden that strikes on two Russian gas pipelines at the centre of an incident had caused significant leakage into the Baltic Sea.
Children between the ages of 5 and 15 are the ones who report the most dengue cases. The illness is widespread in our nation and tends to manifest itself most prominently right after the rainy season. The Aedes aegypti mosquito transmits disease between people, thus it’s important to avoid water accumulation that promotes mosquito hatching, practise excellent hygiene, and be more cautious during the day because it bites more frequently then. Cover any exposed skin on your extremities or apply insect repellent.
total of 396 dengue cases have been registered in Delhi this year, up from 36 new cases in July 2022, 75 in August, and 152 so far in September. 101 additional instances were reported just last week.
Infection
Four different serotypes of the dengue virus have been identified: DEN-1, DEN-2, DEN-3, and DEN-4. In Delhi throughout the past 50 years, DEN-2 has been both the most prevalent and the most severe. A couple of the DEN-3 and 4 cases that were reported were determined to be comparable or no worse. A fifth serotype that produces a little illness was discovered in Malaysia in 2013. A youngster technically has a chance of contracting each of the five serotypes five times. A lifelong immunity to that specific serotype results after infection with one serotype; additional dengue infections, on the other hand, have a higher risk of life-threatening illness. Both primary (first-time) and secondary (recurrent) dengue infections can occur in children (second dengue virus infection with a different serotype).
Danger signals
After five days of fever, the extremities are cold or not feverish.
Continent pain
Especially when walking or rising from bed, dizziness
whenever there is bleeding
a nosebleed
Urine or stool bleed
Bruises
On days 1-2, NS1 tests came back positive.
Day 5-7 IgM test positive
4–10 days after a mosquito bite for incubation
Symptoms
Symptomatic infections can range from non-specific viral illness to severe circulatory shock caused by dengue infection (fever for 5–6 days followed by cold extremities, bleeding from the nose or in the stool or blood spots, bruises under the skin, fluid leakage due to damage to blood vessel lining, reduced capillary brain flow in all areas, an increase in fluid in the lungs and abdomen, swelling under the skin and puffy eyes). If blood volume drops and there is concentrated blood as a result of plasma leaking, fainting episodes could occur (high hematocrit PCV that tends to clot and toxins breaks the platelets reducing the number as well as platelet function that are there are not functioning well). Such inadequate blood flow overall All of this insufficient blood flow (i.e., inadequate oxygen delivery) to the liver and kidney results in decreased urine production, abdominal pain, abnormal liver function tests, and fluid accumulation in the abdomen, lungs, or pleural membrane, which impairs breathing. If no oral or IV fluid intake is made, symptoms including pain behind the eyes and drowsiness could proceed to multi-organ dysfunction.
In order to analyse an extremely distant quasar, which is a superbright object powered by a massive black hole, as it was 13.1 billion years ago, when the universe was only 700 million years old, a team of researchers used the 8.1-meter Gemini North telescope on the island of Hawai’i. They discovered a cloud with a distinct chemical signature surrounding the object.
When the chemical constituents of the cloud were determined, the researchers discovered an extraordinarily high ratio of iron to magnesium that was ten times higher than the same ratio in the sun. The only possible explanation for this debris cloud, according to astronomers, is that a first-generation star with a mass 300 times that of the sun burst in a supernova known as a pair-instability supernova.
BENGALURU: On Wednesday, Indian equities ended around two-month lows with losses reported by banks, energy, and metal industries as concerns about a global recession dampened risk sentiment.
The S&P BSE Sensex (.BSESN) closed down 0.9% at 56,598.28, while the NSE Nifty 50 index (.NSEI) down 0.9% to 16,858.60. Both indices have seen their longest losing streak since mid-June after falling for a sixth straight session.
On Wednesday, stocks throughout the world fell to their lowest levels in two years as rising borrowing prices and a growing energy crisis fueled worries that the world would enter a recession.
Rising interest rates and bond yields had raised the investment barrier for equities, said Siddhartha Khemka, head of retail research at Motilal Oswal Financial Services.
Meanwhile, fear of recession because of “very high” interest rates, was adding pressure, he said.
Foreign institutional investors sold a net 28.24 billion Indian rupees ($345.63 million) of Indian equities on Tuesday, while domestic investors purchased 35.05 billion rupees shares, as per provisional data available with the National Stock Exchange
Overseas investors would not be interested in coming back to the markets at this point of time unless the currency stabilises,” said Joseph Thomas, head of research, Emkay Wealth Management.
“We need to see the trajectory of U.S. interest rates from the current aggressive approach moderate over the next 2-3 quarters, also need to see the direction of the Indian monetary policy and some stability in the currency.”
Investors are waiting for the Reserve Bank of India’s monetary policy announcement on Friday.
Markets will take defensive positions before the result of the RBI policy, Khemka continued.
Oil prices increased on Wednesday for a second day, reversing recent declines as the U.S. currency weakened after recent gains, U.S. fuel inventory reports revealed greater-than-anticipated drawdowns, and consumer demand increased.
At $89.32 per barrel,
Brent crude futures closed up $3.05, or 3.5%. West Texas Intermediate (WTI) crude futures for the United States ended the day up $3.65, or 4.7%, to $82.15 per barrel.
Oil prices, which fell by more than 22% during the third quarter, may be bottoming out, according to analysts, as U.S. sales of strategic reserves come to an end and Chinese demand appears to be picking up.
we are bottoming market will remain extremely volatile
I do believe we are bottoming, but the market will remain extremely volatile and difficult to speculate in, according to Rebecca Babin, senior energy trader at CIBC Private Wealth US.
In spite of refining product supply remaining 3% lower over the past four weeks compared to the same period a year earlier, U.S. inventory data revealed that consumer demand had recovered.
In the most recent week, U.S. crude stocks fell by 215,000 barrels, gasoline inventories fell by 2.4 million barrels, and distillate inventories fell by 2.9 million barrels as refinery output decreased as a result of several outages.
dollar -driven rallies accross the board
dollar-driven rallies across the board
These are all dollar-driven rallies across the board,” said Eli Tesfaye, senior market strategist at RJO Futures. “All raw material dominated currencies are up – crude is not just moving in isolation here.”
Eli Tesfaye, senior market strategist at RJO Futures, claimed that all of these rallies were driven by the dollar in all markets. “All currencies that are dominated by raw materials are up; crude is not simply going here alone.”
Due to anticipated weaker demand and a stronger U.S. dollar, Goldman Sachs lowered its oil price projection for 2023 on Tuesday. However, it added that global supply shortfalls only strengthened its long-term bullish outlook.
england announced it will intervene in the bond market
England announced it will intervene in the bond market to stop a damaging rise in borrowing costs
After the Bank of England announced it will intervene in the bond market to stop a damaging rise in borrowing costs on Wednesday, investors’ fears of a financial system-wide contagion were allayed. Global equities recovered from two-year lows.
The entire world watched as a small NASA spacecraft called DART exploded. Since it left Earth in November, this box, slightly larger than an oven and winged with solar panels, had been doomed.
The mission of the Double Asteroid Redirection Test was straightforward: collide with a large asteroid to see if the impact nudges the space rock ever so slightly. If this is the case, perhaps a future asteroid on a collision course with Earth can be avoided using a similar spacecraft suicide mechanism – a way to save humanity while also avenging the dinosaurs.
DART dutifully took images of its impending doom until the very end, on its way to the targeted asteroid Dimorphos. Then its final words were cut off.
LICIACube, which stands for Light Italian CubeSat for Imaging of Asteroids, has released its first images. LICIACube floated a safe distance away from the impact site, waiting for DART to simply die. Then, about three minutes after the crash, it flew over the scene and used its dual camera system to photograph the evidence. Streams of debris surround Dimorphos in these images, resulting from DART’s 14,000-mph plunge into the asteroid’s surface. LICIACube also captured images of the asteroid’s far side during a brief flyby, as well as a few more evocative images of the rock’s surroundings. The room erupted in applause when the satellite’s science team saw these portraits arrive.
The discovery demonstrates that major impacts during Earth’s prehistory were not isolated occurrences. Instead, these asteroid impacts were accompanied by a series of smaller hits both here and on the moon, which has over 9,000 craters left by space rock impacts.
The findings could aid astronomers in better understanding the dynamics of the inner solar system and in calculating the likelihood of our planet being struck by potentially devastating massive space rocks in the future.
The results were obtained by studying microscopic glass beads within lunar soil samples returned to Earth by China’s Chang’e-5 lunar mission in 2020, according to scientists at Curtin University’s Space Science and Technology Centre (SSTC).
Meteor strikes generate intense heat and pressure, which results in the formation of these tiny glass beads. This means that researchers can use the ages of these beads to reconstruct a timeline of lunar bombardment.
The SSTC team discovered that the timing and frequency of asteroid impacts on the moon were mirrored by space rock strikes on Earth, implying that the timeline the team created could also provide insight into the evolution of our planet.
As of 5:36 p.m., the price of gold (XAU) is INR 4,278 per gramme of 24-carat gold. It is down 0.04% from the INR 4,280 closing of yesterday, up 0.10% from the previous week, and down 4.53% from one month ago.
gold prices declines rs 4,278 in indian market
The 52-week high for the price of gold is INR 4,591, while the 52-week low is INR 4,268.
INR 3,924 is the cost of one gramme of 22-carat gold.
Current gold prices in India
City 10 Grams of Pure 24K Gold for One Gram of Pure Gold INR 4,580 INR 45,796 in Ahmedabad Bangalore 45,796 INR 4,580 Chennai 4,766 INR to 47,660 INR INR 46,251 INR 4,625 in Coimbatore INR 4,590 INR 45,896 in Delhi INR 4,576 INR 45,759 in Hyderabad INR 4,766 INR 47,664 in Kochi INR 4,576 INR 45,759 in Kolkata Mumbai INR 45,759 INR 4,576 Surat 45,796 INR 4,580
22-Carat Gold Rates In India Today
City 1 Gram of Standard Gold 22K 10 Grams of Standard Gold 22K Ahmedabad INR 4,198 INR 41,979 Bangalore INR 4,198 INR 41,979 Chennai INR 4,369 INR 43,688 Coimbatore INR 4,240 INR 42,397 Delhi INR 4,207 INR 42,071 Hyderabad INR 4,195 INR 41,946 Kochi INR 4,369 INR 43,692 Kolkata INR 4,195 INR 41,946 Mumbai INR 4,195 INR 41,946 Surat INR 4,198 INR 41,979
Gold ROI If you purchased a gram of 24-carat gold at today’s price of INR 4,278 and sold it in 10 years at an average annualized return of 10%, you’d earn approximately INR 7,350 in interest, assuming daily compounding.
the 24 carats gold droped by 0.04 from closing price
Gold Price Development The cost of 24-carat gold dropped by 0.04% from its closing price yesterday. Overall, this year has seen an increase in the price of gold. However, it has decreased to its current price over the previous 90 days. The current price of gold is comparable to the average price per gramme of 24-carat gold for the first half of the year, which was INR 4,278.
NEW YORK – Oil prices rose for a second day on Wednesday, recouping recent losses as the US dollar eased off recent gains and U.S. fuel inventory figures revealed larger-than-expected drawdowns and a rebound in consumer demand.
“I believe we have bottomed, but it will remain exceptionally volatile, keeping easy speculative money out of this market,” said Rebecca Babin, senior energy trader at CIBC Private Wealth US.
Consumer demand in the United States has recovered, according to inventory figures, though refining product supply has remained 3% lower over the last four weeks compared to the same period last year.
On Wednesday, the dollar reached a new two-decade high against a basket of currencies before retreating. A strong dollar reduces demand for oil by making it more expensive for foreign buyers. The dollar index was down 0.9% in the early afternoon U.S. hours.
“All of these are dollar-driven rallies,” said Eli Tesfaye, senior market strategist at RJO Futures. “All raw-material-dominated currencies are rising; crude is not moving in isolation here.”
On Tuesday, Goldman Sachs reduced its 2023 oil price forecast due to expectations of weaker demand and a stronger US dollar, but said global supply disappointments only reinforced its long-term bullish outlook. Global equities fell to two-year lows on Wednesday after the Bank of England said it would intervene in the bond market to stem a damaging rise in borrowing costs, assuaging investor fears of financial system contagion.
In an interview with AFP during a visit to Washington, Bilawal warned against creating “parallel governance” after the US placed Afghanistan’s frozen assets in a professional fund in Switzerland, out of distrust for the Taliban.
“We’ve learned in the past that when we wash our hands and turn our backs, we end up creating unintended consequences and adding to our problems,” he explained.
Bilawal
“I believe that our concerns about an economic collapse, a refugee exodus, and a threat of new recruits for organisations such as ISIS-K and others outweigh any concerns about their financial institutions.”
Following the end of a two-decade war, the Taliban reclaimed power last year. Relations with Pakistan had deteriorated, with the country’s powerful military and intelligence apparatus accused in Washington of quietly nurturing the Taliban despite providing logistical support to US forces.
Unlike some previous Pakistani officials, the foreign minister – whose mother, former Prime Minister Benazir Bhutto, was assassinated in 2007 – did not express support for the Taliban.
However, he stated that they required “political space” on issues such as women’s rights, which have been severely restricted.
“Throughout history, theocratic, autocratic regimes haven’t exactly expanded rights during times of economic strife,” he said.
“In fact, they tend to cling to cultural and other issues in order to engage their audience.”
The US came away from a series of talks with the Taliban unconvinced, and in August said they had broken promises by welcoming Al-Qaeda leader Ayman al-Zawahiri, who was discovered at a house in Kabul and killed in a US strike.
Bhutto Zardari, the 34-year-old Oxford-educated scion of a political dynasty, took office five months ago amid political turmoil in Pakistan following a no-confidence vote in former Prime Minister Imran Khan.
The unrest comes as floods in Pakistan have submerged one-third of the country, displacing millions.
US Secretary of State Antony Blinken promised long-term support during a meeting on Monday. The top US diplomat also urged Islamabad to ask China to restructure debt accumulated while Beijing constructs billions of dollars of infrastructure in pursuit of Indian Ocean port access.
Bakhtawar Bhutto-Zardari, the daughter of former president Asif Ali Zardari, disclosed on Wednesday that her father was experiencing “post-Covid health issues.” She claimed in a tweet that water was found close to Zardari’s lungs, for which she claimed a surgery had been carried out a month earlier. The Pakistan Peoples Party (PPP) co-chairperson was not visible physically assisting flood victims, according to Bakhtawar’s further explanation. She also acknowledged everyone’s prayers. The ex-president was transported to a private hospital in Karachi when his condition deteriorated, sources told The Express Tribune on Tuesday. They said that Dr. Asim Hussain’s medical staff was examining the former president.
Zardari
On the suggestion of his doctors, Zardari was also admitted to a private hospital in the port city the previous year. Due to the strain and weariness from travelling for court appearances and the budget session, the former president “became unwell.” Zardari was admitted to an intensive care unit of a private hospital in Clifton in October 2020 because he was apparently dealing with a chest infection and his blood sugar had become dangerously low. Dr. Asim Hussian, the personal physician of the PPP co-chairperson, had claimed that Zardari was not feeling well and that a team of medical professionals was constantly watching him and doing his medical tests.
On Wednesday, the operational Pakistan Air Force Air Defence exercise was overseen by Air Chief Marshal Zaheer Ahmed Baber Sidhu, the CAS.
According to a PAF news release, the Pakistan Air Force (PAF) conducted an operational Air Defence exercise with an emphasis on creating cooperation and taking future combat concerns into account.
The exercise’s goal was to simulate counter-air operations in order to support modern employment theories.
The exercise was designed to teach the PAF operational crew to plan, rehearse, and validate strategies against anticipated threats while integrating PAF and Pakistan Army air defence capabilities.
The Air Chief evaluated the integration and synergistic employment of offensive and defensive forces in synergy with Army Air Defence while monitoring the exercise from the Command Operations Center in order to validate modern employment concepts under threat scenarios that were as realistic as possible.
The exercise also included the actual PAF assets, including as fighter jets, air defence components, force multipliers, and battle management centres.
Earlier, the CAS paid a visit to an operational base as part of the same exercise to evaluate how recently acquired unmanned aerial systems (UAS) had been incorporated into the PAF’s operational framework.
The Air Chief emphasised the value of UAS, saying, “The function of Unmanned Aerial Systems is becoming more and more crucial for military engagements. UAS have taken the initiative as force multipliers that might determine the outcome of contemporary warfare.
The CAS highlighted that the Pakistan Air Force (PAF) was well aware of the geostrategic developments in the area and was ready to protect Pakistan’s sovereignty and territorial integrity. To appropriately handle current and future issues, “our focus remains on Operational Excellence, Continued Modernization through Smart Inductions of Cutting-Edge Niche Technologies, Effect-Based Training, and improved Human Resource Development.”
China Cultural Center in Pakistan launched “Online Chinese Culture Talk” lecture series
Islamabad: China Cultural Center in Pakistan launched a series of lectures on “Online Chinese Culture Talk”.
The first lecture, “Living Transmission” by Yuan Li, researcher at Chinese National Academy of Arts, provided a new window for Pakistani netizens to learn more about the profound Chinese culture. In his lecture Yuan Li gives an in-depth introduction to the preservation, protection, inheritance and dissemination of intangible cultural heritage in China, especially the important role that the “living inheritance” method of intangible cultural heritage plays in the development of civilization.
In the long history, the Chinese nation has created a rich and splendid material cultural heritage and precious and colorful intangible cultural heritage. These tangible and intangible cultural heritages are historical witnesses of the development of Chinese civilization and cultural resources of great value.
There are twelve lectures in total which includes “Living Transmission” by Yuan Li, researcher at the Chinese National Academy of Arts, “Chinese language, characters and culture” by Professor Shi Dingguo, professor at Beijing Language and Culture University, “Gallantry in Tenderness: The Momentum and Spirit of Chinese Wushu” by professor Meng Tao, associate professor at Beijing Institute of Fashion Technology,“Appreciation of Peking Opera Art” by Zhang Jianguo, “Chinese Literature and the World – a brief history on the Mergence of Foreign and Chinese Literature” by Lu Jiande, eminent scholar and research fellow in the Institute of Literature at CASS.
Other lecture series include “Get to know China through a few iconic dishes” by Chen Xiaoqing, “Bronze Culture and Chinese Civilization” by Peng Lin a senior Professor at Tsinghua University, “Spring Rain at Dusk: Telling the Story of Chinese Medicine” by Doctor Song Ping from China Academy of Chinese Medical Sciences. “Chinese Clothing: Its Past and Present” by Chu Yan, an associate professor of Beijing Institute of Fashion Technology, “The Art of Traditional Chinese Architecture” by Liu Tuo, architect researcher at the Chinese National Academy of Arts.
“China’s Tourism Resources and Industry Development” by Jiang Yiyi, Director of the Leisure Sports and Tourism School, Beijing Sports University. “The Chinese way and the Belt and Road Initiative – a Civilizational State Perspective” by Zhang Weiwei, a famous scholar of China.
The lectures cover a wide range of cultural fields, including philosophy, cultural heritage, literature, art, costume, cuisine, sports, Chinese medicine, etc. This lecture series will introduce you to the Chinese culture seen from different aspects. It is understood that the “Online Chinese Culture Talk” is a Chinese and foreign ideological and cultural exchange event organized by China Cultural Center in Pakistan, which brings together the best and the brightest, aiming to continuously strengthen the exchange, dialogue and mutual appreciation between China and other countries in the field of ideology and culture by organizing high-level cultural lectures and academic exchanges.
The lecture series were launched on 21 September and continue until mid of October 2022 which will also be promoted simultaneously on social media such as the China Cultural Center in Pakistan Facebook page, WeChat, Channels, and its Director’s Twitter handle.
According to authorities, a bomb in northwest Pakistan killed the former leader of a pro-government organisation and seven other people. The local Taliban claimed responsibility for the incident.
The Kabal town in the Swat valley, which was mostly governed by the Pakistan Taliban during a fight from 2007 to 2009, was the scene of the explosion on Tuesday night.
Islamabad supported tribal peace committees for years while they protected their villages from attackers. Since the fighting was mostly over and national security increased, the majority of them have been dissolved.
Former peace committee leader Idrees Khan was murdered after his pick-up truck was struck by a roadside bomb, according to Swat district police officer Zahid Nawaz Marwat, who spoke to AFP.
Two local police officers, two private guards, and three workers were among the fatalities, according to a second local police source.
The TTP, an illegal organisation, claimed responsibility for the incident and claimed that Khan had killed several of its members. The organisation also claimed responsibility for a skirmish with Pakistani security forces that left three troops dead on Tuesday in the Afghan border province of Kurram.
The TTP proclaimed an extended ceasefire in June to aid in peace negotiations being mediated by Afghanistan, but despite both parties claiming the ceasefire was still in effect, there have been frequent confrontations since then.
Islamabad has routinely complained about TTP assaults since the Taliban took back control of Afghanistan last year, particularly along their porous border.
Although the Taliban in Pakistan and Afghanistan are independent organisations, they share a similar philosophy.
Islamabad: A delegation from Etisalat visited Pakistan Telecommunication Authority (PTA) Headquarters, Islamabad today. The delegation which comprised of Mr. Mikhail Gerchuk, Etisalat International Group CEO; Dr. Kamal Sameer Shehadi, Chief Strategy Officer Etisalat Group; Mr. Hatem Bamatraf, Group CEO PTCL Mr. Abdul Rehman Al Raheem Al Nooriyani, CEO Etisalat International Pakistan met with Chairman PTA, Maj. Gen. Amir Azeem Bajwa (R). The two sides discussed the future plans of Etisalat Group, PTCL & Ufone for enhancing connectivity, improving infrastructure and future investment opportunities in Pakistan. The two sides agreed to expand mutual collaboration to further bolster efforts in the digital transformation of the country.
Google said on Thursday that it will contribute $50000 to Pakistani flood relief efforts.
Vice President of Google Southeast Asia Stephanie Davis announced on LinkedIn that the tech giant will contribute the sum—roughly 110 million rupees—to the Centre for Disaster Philanthropy through Google.org.
She continued by saying that the Center for Disaster Philanthropy will in turn give sub-grants to neighbourhood organisations that are actively involved in disaster response and rehabilitation.
