Pakistan

Pakistan expresses solidarity with Saudi Arabia after US charges on OPEC

Published

2 years ago

Farwa

“We appreciate concerns of Saudi Arabia for avoiding market volatility and ensuring global economic stability,” FO says.
It says Pakistan reaffirms its long-standing, abiding and fraternal ties with the Kingdom of Saudi Arabia.
KSA rejected US accusations of aligning itself with Russia amid Ukraine war by making oil production cuts to drive up crude prices.

ISLAMABAD: In the wake of statements made against the Kingdom in the context of the OPEC+ decision, Pakistan Tuesday expressed solidarity with the leadership of the Kingdom of Saudi Arabia.

“We appreciate the concerns of the Kingdom of Saudi Arabia for avoiding market volatility and ensuring global economic stability,” the Foreign Office said in a statement.

It added that Pakistan encourages a constructive approach to such issues based on engagement and mutual respect.

“We reaffirm our long-standing, abiding and fraternal ties with the Kingdom of Saudi Arabia.”

Saudi defends oil policy in face of US charges

A day prior, Saudi Arabia rejected the United States’ accusations of aligning itself with Russia amid the Ukraine war by making oil production cuts to drive up crude prices, insisting it was purely a business decision.”We are astonished by the accusations that the kingdom is standing with Russia in its war with Ukraine,” the Saudi defence minister, Prince Khaled bin Salman, tweeted late Sunday.The Saudi-led OPEC+ cartel — which includes Russia — has angered Washington by deciding to cut production by two million barrels per day from November, adding further pressure on soaring crude prices.”It is telling that these false accusations did not come from the Ukrainian government,” Prince Khaled wrote. “Although the OPEC+ decision, which was taken unanimously, was due to purely economic reasons, some accused the kingdom of standing with Russia.

Biden vows consequences for Saudi Arabia

US President Joe Biden pledged on October 13 that “there will be consequences” for US relations with Saudi Arabia after OPEC+ announced last week that it would cut oil production over US objections.

His announcement came a day after powerful Democratic Senator Bob Menendez, chairman of the Senate Foreign Relations Committee, said the United States must immediately freeze all cooperation with Saudi Arabia, including arms sales.

Biden, in an interview with CNN’s Jake Tapper, said he would not discuss what options he was considering.

“I’m not going to get into what I’d consider and what I have in mind. But there will be — there will be consequences,” he said.

White House press secretary Karine Jean-Pierre said a policy review would be conducted but gave no timeline for action or information on who would lead the re-evaluation.

The United States will be watching the situation closely “over the coming weeks and months,” she said.

John Kirby, the White House national security spokesperson, said Biden would work with Congress “to think through what that relationship ought to look like going forward.”

“And I think he’s going to be willing to start to have those conversations right away. I don’t think this is anything that’s going to have to wait or should wait, quite frankly, for much longer,” Kirby added.

Entertainment

UAE grants Aiman Khan a Golden Visa

Published

34 mins ago

Farwa

The actress Aiman Khan has notified her fans and followers that the United Arab Emirates has granted her a Golden Visa.

Renowned for her dramatic roles in plays like “Ghar Titli Ka Par,” “Meri Beti,” and “Ishq Tamasha,” Aiman Khan has been spotted putting more emphasis on her personal life with her spouse, fellow actress Muneeb Butt, and moving away from the entertainment industry recently.

Instagram users saw Aiman Khan post a photo of herself receiving the Golden Visa from UAE officials.

The actress was shown gratitude in the caption for the extraordinary hospitality and kind welcome she received from the Dubai government.

Aiman Khan is shown in the accompanying photo, probably when applying for a visa, looking smart in black among representatives from the United Arab Emirates.

Fascinatingly, Aiman Khan’s spouse, Muneeb Butt, previously uploaded a comparable Instagram picture revealing his triumphant Golden Visa acquisition.

Often taking his wife, Aiman Khan, along, Muneeb Butt travels to Dubai for business and pleasure. Even after their daughter Amal was born, the well-known couple continued to observe this habit.

Furthermore, Miral, their second daughter, made her first vacation outside of Pakistan when they recently took her to Dubai.

“Dubai holds a special place in my heart, from memorable vacations to productive work trips,” Muneeb Butt complimented in the description.

Business

Exchange achieves all-time high: KSE-100 index surpasses 72,500 points

Published

39 mins ago

Farwa

With the benchmark KSE-100 index hitting a record-breaking high of 72,501 points, the Karachi Stock Exchange saw yet another incredible rise.

Within Pakistan’s financial environment, investors demonstrated a strong sense of trust in the market as the bullish trend continued.

As a result of the significant inflow of investment and optimism among market players, the index had an amazing 450-point rise during the trading session.

In their analysis of the market’s remarkable performance, financial analysts pointed to a number of causes for the upward trend, such as encouraging economic data, robust company profits, and the government’s proactive measures to promote economic expansion.

The durability and upward momentum of the market have also been greatly aided by continuous infrastructural investments and efforts meant to boost investor confidence.

In the meantime, interbank rates increased by six paisas, and the US dollar’s value saw a slight rise in the currency market. As a result of the current market conditions and the dynamic nature of foreign exchange swings, the dollar was quoted at Rs 278.45 in the interbank market.

Education

Youth from North Waziristan are given an educational and recreational tour by the Pakistan Army.

Published

46 mins ago

Farwa

Youth from North Waziristan set off on a three-day enjoyable and enlightening excursion as part of the Pakistan Army’s “Ilm Tolo Da Para” project.

The young participants in the trip had a great time touring some of Islamabad’s most notable sites, such as the magnificent Faisal Mosque, Ayub Park, Pakistan Museum of Natural History, Pakistan Monument Museum, Folk Heritage Museum, and the picturesque Lake View Park.

The Imam led an insightful workshop for the students at Faisal Mosque, exploring the mosque’s significance and its place in the history of the country.

The youth’s awareness of their country’s legacy was strengthened by their visits to the People’s Heritage and Pakistan Monument, which provided them with valuable insights into the sacrifices made during Pakistan’s founding.

As the eager young people engaged in exhilarating rides, games, and other leisure pursuits, Ayub National Park transformed into a playground where they made enduring memories.

The youth gave the Pakistan Army their sincere gratitude for organising this beneficial event that combined learning with leisure.