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Exchange rates for currency notes

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KARACHI, Sep 01 (APP):
CURRENCY SELLING BUYING
USD 308.81 302.20
GBP 391.13 382.68
EUR 334.79 328.22
JPY 2.1226 2.0771
SAR 82.34 80.57
AED 84.08 82.83

LIBOR
LIBOR FOR CALCULATING INTEREST ON SPECIAL USD BONDS
LIBOR 1M 5.44416
LIBOR 3M 5.67121
LIBOR 6M 5.90353

US DOLLAR Indicative FBP Rates

CURRENCY SIGHT/
15 DAYS 1M 2M 3M 4M 5M 6M

USD 304.46 303.67 302.68 301.04 299.02 297.07 295.38

EUR 330.28 329.69 329.11 327.79 326.33 324.71 323.30

GBP 385.58 384.59 383.35 381.24 378.83 376.31 374.08

APP/as

NBP exchange rates

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exchange rates

KARACHI, Sep 01 (APP): The Treasury Management Division of the National Bank of Pakistan (NBP) on Friday issued the following
exchange rates.

CURRENCY SYMBOL TT Selling TT Buying
U.S DOLLAR USD 305.75 305.25
EURO EUR 332.09 331.55
JAPANESE YEN JPY 2.1016 2.0981
BRITISH POUND GBP 387.26 386.63
SWISS FRANC CHF 346.00 345.44
CANADIAN DOLLAR CAD 226.28 225.91
AUSTRALIAN DOLAR AUD 197.91 197.59
SWEDISH KRONA SEK 28.03 27.98
NORWEGIAN KRONE NOK 28.75 28.70
DANISH KRONE DKK 44.47 44.40
NEWZEALAND DOLLAR NZD 182.15 181.85
SINGAPORE DOLLAR SGD 226.33 225.96
HONGKONG DOLLAR HKD 39.13 39.07
KOREAN WON KRW 0.2315 0.2311
CHINESE YUAN CNY 42.25 42.18
MALAYSIAN RINGGIT MYR 65.92 65.82
THAI BAHT THB 08.72 08.71
U.A.E DIRHAM AED 83.82 83.69
SAUDI RIYAL SAR 81.52 81.39
QATAR RIYAL QAR 83.88 83.74
KUWAITI DINAR KWD 991.99 990.36

CONVERSION RATE FOR FROZEN FCY DEPOSITS
USD 305.463
GBP 387.8158
EUR 332.5576
JPY 2.0947

SETTLEMENT DATE: 06-09-2023

 

China launches first type 054B frigate: PLA Spokesman

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BEIJING, Sep 01 (APP): The Chinese People’s Liberation Army (PLA) Navy has launched a new type of frigate, the Type 054B, said a spokesman of the Chinese Ministry of National Defense.

It is a normal arrangement addressing national security needs and the overall naval trend of the PLA Navy developing equipment including main combat vessels according to related plans, Senior Colonel Wu Qian, said at a regular press conference.

The goal is to defend national sovereignty, security and development interests, and better safeguard world and regional peace and stability, Wu said.

China always follows a path of peaceful development, and unswervingly adheres to a national defense policy that is defensive, Wu said.

Wu made the remarks in response to a question about recent online news reports that the Type 054B has been launched in Shanghai.

The reports suggested that the first hull of the Type 054B was launched at Hudong Zhonghua Shipyard in Shanghai last week.

US news website The Drive called the Type 054B one of the PLA Navy’s most important future vessels, saying that it is likely a continuation of the previous Type 054A frigate, which mainly carries out anti-submarine tasks but can also conduct general-purpose missions including anti-air warfare and anti-surface warfare, Global Times reported.

According to analyses of photos by the naval news website Navy Recognition, the Type 054B is larger than the Type 054A, has enhanced situational awareness and air defense capability through a dual-face active phased array radar system plus an integrated radio frequency mast similar to that on the Type 055 destroyer, and replaces the Type 054A’s 76mm main gun with a new 100mm main gun that offers more range, power and diversified strike capabilities.

The Type 054B is equipped with a 32-cell vertical launch system that can accommodate long-range air defense missiles and rocket-assisted torpedoes, plus two sets of anti-ship missile launchers, but reduces the two close-in weapon systems equipped by the Type 054A to one in favor of an additional short-range air defense missile system, according to the reports, which also speculated that the new frigate is equipped with a fully electric propulsion system.

The advanced new frigate should be a far sea-operable vessel with high versatility, reliability, cost efficiency and comfortability, and could be built in large numbers, a Chinese military expert who requested anonymity told the Global Times.

It is expected to join aircraft carriers, amphibious ships and destroyers in far sea voyages after entering service, the expert said.

Iranian ambassador condemns increasing disrespect for religious symbols in European nations

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ISLAMABAD, August 31 (APP): Iranian Ambassador Reza Amiri-Moghaddam on Thursday emphasized the distressing trend of increasing incidents that disregard the sanctity of religious symbols, particularly in European nations.

Addressing the ‘Honoring the Holy Quran from the Perspective of Religions and Sects’ organized by the Iranian Cultural Consulate in collaboration with Majlis Wahdat-e-Muslimeen here at a local hotel, he highlighted the contradiction between championing human rights and the violation of religious sanctity, citing the desecration of the Holy Quran on over six occasions in the past six months.

Ambassador Amiri-Moghaddam conveyed his pleasure in joining the assembly of learned individuals and expressed gratitude for their presence on this significant occasion. He extended his appreciation to those who played a role in organizing the event that brought together scholars and devotees from various religious and sectarian backgrounds, including Shia, Sunni, Christian, Sikh, and Hindu, united by a common purpose.

The event, which focused on the honor and reverence of the Holy Quran from a multi-religious perspective, was described by Ambassador Amiri-Moghaddam as timely and relevant. He went on to express his concerns about recent incidents in European countries that had displayed disrespect for the sanctity of the Holy Quran.

He pointed out the unfortunate permission granted by the Swedish government for the disrespect of the Holy Quran under the guise of freedom of expression, which he deemed a dangerous precedent. Expressing disappointment over the lack of preventative actions, he raised concerns about similar future occurrences.

He asserted that the desecration of the Holy Quran extended beyond a religious issue, presenting it as an affront to all divine scriptures across various faiths. He said the condemnation of this act came from religious leaders globally, including those within Islamic countries, who stood united against such unacceptable behavior.

The Ambassador underscored the significance of this issue, considering its implications on the objectives outlined in the United Nations Charter and the principles of mutual coexistence.

He pointed to the violation of international law that prohibits the propagation of religious hatred. He highlighted the contradiction between these actions and international agreements and human rights principles, citing treaties that prohibit any form of discrimination inciting hatred or undermining equality.

The Ambassador labeled the despicable act of disrespecting the Holy Quran as emblematic of an agenda that seeks to fuel discord among Islamic nations. He expressed concerns about the silence of European nations on these matters within their borders, raising questions about their commitment to protecting religious sanctity while upholding freedom of expression.

Amid the advancements of technology that amplify humanity’s spiritual and ethical capacities, he urged scholars to promote positive discourse. He stressed the need to create an environment where all religions can effectively counteract the trend of disrespect.

He emphasized the importance of national and international actions to prevent the recurrence of such acts.

Concluding his address, Ambassador Amiri-Moghaddam expressed gratitude to the people of Pakistan, scholars, and the government for their resolute stance against the disrespect of the Holy Quran. He commended Pakistan’s commitment to safeguarding religious symbols and applauded its campaign to honor the Holy Quran and praised unwavering dedication to preserving religious sanctity.

Military coups only make crises worse: UN chief

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UNITED NATIONS, Sep 01 (APP): Citing the “succession of military coups” unfolding across Africa, UN Secretary-General Antonio Guterres Thursday said that such interventions only make the situation worse, and emphasized the need for durable democratic governance and the rule of law.

Wednesday’s military takeover in Gabon came on the heels of Niger last month, Burkina Faso in 2022, and Chad, Guinea, Sudan and Mali in the years prior to that. Overall, all recent coups except Myanmar, in 2021, have taken place on African soil.

The announcement of the takeover in Gabon came shortly after election results were announced saying incumbent president Ali Bongo had been re-elected, amid reports of irregularities at the polls.

“Many countries face deep-seated governance challenges. But military governments are not the solution,” the UN chief stressed, speaking at a press encounter at UN Headquarters, in New York.

“They aggravate problems. They cannot resolve a crisis; they can only make it worse.”

The UN chief called on all countries to urgently establish credible democratic institutions and rule of law.

Guterres highlighted the need to strengthen international bodies such as the African Union, in their diplomatic efforts to foster peace, stability and democracy on the continent.

At the same time, conditions need to be created that allow African citizens to address the root causes of political instability; lack of development being a major factor, he said.

“Development is a central objective if we want to create conditions for peace and stability in Africa,” the Secretary-General said, in response to a question.

Guterres also spoke of a series of high profile upcoming trips, where he aims to drum up support for diplomacy and multilateralism, leading to the high-level opening of the UN General Assembly, in late September.

This weekend he will be travelling to the Africa Climate Summit in Kenya, from where he will travel to Indonesia to attend the 13th ASEAN-UN Summit.

Next, he will head for the Indian capital, Delhi, for the G20 Summit, and then on to Cuba for a Summit of the G-77 and China.

“I look forward to engaging with global leaders at these four very different summits before the world comes together for the opening of the General Assembly”, Guterres said.

Key items on his agenda for the four summits include climate action in Africa, the crisis in Myanmar (ASEAN-UN Summit), reforming global financial institutions (G20), and getting the 2030 Agenda for Sustainable Development back on track (G-77 and China).

“Diplomacy is more important than ever to navigate the tensions of our emerging multipolar world,” the UN chief said, adding:

“Dialogue remains the only way to find joint approaches and common solutions to the global threats and challenges that we face.”

APP/ift

Interior Minister condemns suicide attack in JaniKhel Bannu

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ISLAMABAD, Aug 31 (APP): Caretaker Interior Minister Sarfaz Bugti on Thursday strongly condemned the suicide attack in Janikhel, Bannu and prayed for nine brave soldiers of Pak Army who embraced martyrdom in the attack.
He expressed his deep sorrow with the bereaved families and prayed for martyrs.
In his message the interior minister said that the Pak Army is determined and ready to face all challenges in eliminating the terrorism from the country.
Entire nation pays tribute to the brave soldiers of Pakistan Army who are scarifying their lives for safety and security of the country, said the minister.
He said, such cowardly attacks cannot demoralize the morale of valiant soldiers and they will ultimately be victorious in uprooting the terrorism from society.

UN chief says he sent letter to Russian FM seeking to revive grain deal

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UN Chief

UNITED NATIONS, Aug 31 (APP): United Nations Secretary-General Antonio Guterres said Thursday he has written a letter to Russian Foreign Minister Sergey Lavrov in a bid to revive the Black Sea Grain Initiative.

Russia pulled out of the deal in July — a year after it was brokered by the United Nations and Turkiye — complaining that its own food and fertilizer exports faced obstacles and that not enough Ukrainian grain was going to countries in need.

The Black Sea grain deal was intended to combat a global food crisis that the United Nations said had been worsened by Russia’s February 2022 invasion of Ukraine. Russia and Ukraine are both leading grain exporters.

“We have some concrete solutions for the concerns allowing for an effective or more effective access of Russian food and fertilizers to global markets at adequate prices,” the UN chief said in reply to a question at a news briefing at the U.N. headquarters in New York.

“We believe that the Black Sea initiative has given a very important contribution to make the food markets more adequate to our objectives of food security,” he said, adding the deal brought prices down and created conditions for access to global markets of many countries.

“We believe it would be extremely important to renew it. And at the same time, we took into concern the Russian requests, and I believe we presented a proposal that could be the basis for renewal,” he said.

But Guterres stressed that renewal “must be stable.”

“We cannot have a Black Sea initiative that moves from crisis to crisis from suspension to suspension. We need to have something that works and that works to the benefit of everybody,” he said.

The war in Ukraine sent food commodity prices to record highs last year and contributed to a global food crisis also tied to other conflicts, the lingering effects of the COVID-19 pandemic, droughts and other climate factors.

High costs for grain needed for food staples in many developing countries exacerbated economic challenges and helped push millions more people into poverty or food insecurity.

APP/ift

Federal Minister for Commerce and Industry Gauhar Ejaz inspecting the newly launched Havel Jolion by Sazgar

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Federal Minister for Commerce and Industry Gauhar Ejaz inspecting the newly launched Havel Jolion by Sazgar
APP41-310823 LAHORE: August 31- Federal Minister for Commerce and Industry Gauhar Ejaz inspecting the newly launched Havel Jolion by Sazgar. APP/MHA/ABB
Federal Minister for Commerce and Industry Gauhar Ejaz inspecting the newly launched Havel Jolion by Sazgar
APP41-310823
LAHORE: August 31Federal Minister for Commerce and Industry Gauhar Ejaz inspecting the newly launched Havel Jolion by Sazgar

APP42-310823
LAHORE: August 31- Federal Minister for Commerce and Industry Gauhar Ejaz addressing the audience of Havel Jolion by Sazgar. APP/MHA/ABB

Federal Minister for Commerce and Industry Gauhar Ejaz inspecting the newly launched Havel Jolion by Sazgar
APP43-310823
LAHORE: August 31- Federal Minister for commerce and industry Gauhar Ejaz addressing the media at Launching ceremony of Havel Jolion at Lahore in local hotel. APP/MHA/ABB

Protect world heritage sites to conserve biodiversity: UNESCO

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UNITED NATIONS, Aug 31 (APP): Some of the world’s most iconic natural and cultural sites are also a haven for thousands of endangered species, the UN Educational Scientific and Cultural Organization (UNESCO), the world body’s Paris-based agency, said Thursday.

Although properties protected under the World Heritage Convention make up less than one per cent of the Earth’s surface, they harbour more than 20 per cent of the planet’s biodiversity, new research by UNESCO and the International Union for Conservation of Nature (IUCN) has revealed.

The UN agency has urged the 195 States party to the treaty to step up efforts to conserve them in the face of climate change and the threat of increased species loss.

“These 1,157 sites are not only historically and culturally outstanding, they are also critical to the preservation of the diversity of life on Earth, maintaining essential ecosystem services, and addressing climate disruption,” the UNESCO Director General, Audrey Azoulay, said in a statement.

UNESCO World Heritage sites – ranging from the Great Barrier Reef in Australia to the Great Wall of China – contain more than 75,000 species of plants and trees, and over 30,000 species of mammals, birds, fishes, reptiles and amphibians.

They are estimated to protect over 20,000 endangered species, including up to a third of all elephants, tigers and pandas, and at least one-tenth of great apes, lions and rhinos.

For some species, such as Javan Rhinos, Pink Iguanas, Sumatran Orangutans and Mountain Gorillas, they are “the last line of defence against extinction”, the agency said.

The World Heritage Convention confers the highest level of international protection to these locations, found across 167 countries.

The 1972 treaty has enabled successful conservation initiatives, such as those undertaken in the Kaziranga National Park in India and Chitwan National Park in Nepal, where the number of Greater one-horned Rhinos has doubled to some 4,000 since the mid-1980s.

However, UNESCO stressed the urgent need to strengthen conservation measures, warning that “the clock is ticking for immediate action.”

Every 1°C increase in global temperature could double the number of endangered species threatened by dangerous climate conditions.

“Given their role as vital biodiversity hotspots, UNESCO World Heritage sites must be protected at all costs by the States Parties of the Convention,” the agency said.

UNESCO encouraged countries to prioritize World Heritage sites in their national biodiversity strategies and action plans, in line with a global agreement reached last year.

The Kunming-Montreal Global Biodiversity Framework aims to halt and reverse nature loss through targets that include protecting 30 per cent of the planet’s lands, coastal areas and inland waters by the end of the decade.

UNESCO said that all World Heritage site managers will be trained in climate change adaptation strategies by 2025, and all sites will have climate adaptation plans in place by 2029.

 

PEMRA Regional Office Lahore holds bidding for cable television licence

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PEMRA
ISLAMABAD, Aug 31 (APP):Pakistan Electronic Media Regulatory Authority Regional Office Lahore on Thursday held bidding for the issuance of cable television network for multiple cities and towns.
During the bidding process, Hyder Mughees Network was awarded licence for Farooqabad, Choonian and Ahmedabad, and A&R Network for Ferozwala, Narang Cable Network for Narang Mandi.
Begoka Cable Network gave successful bidding for Kanganpur, Manawala and Allahabad, Diamond Cable Network for Baseerpur, Okara cable network for Haveli Lakha, Assange Cable Network for Deepalpur. Digital cable network was successful bidder for cable television network for Bangla Gogira, Goldstar cable network for Choonian Cantt, Wahid Cable Network for Chhanga Manga.
Regional Director PEMRA Ayesha Manzoor Wattoo presided over the process of bidding. Director Operations Qasim Ahmed and Deputy Director Rana Asif were also present on the occasion.
Successful bidders would be awarded licences after formal approval of the authority.