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In a crucial diplomatic call, PM Shehbaz talks with his Qatari colleague about peace initiatives.
Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, the prime minister and minister of foreign affairs of Qatar, spoke with Prime Minister Shehbaz Sharif over the phone about regional peace initiatives and diplomatic coordination. Qatar acknowledged Pakistan’s positive role in fostering stability.
PM Shehbaz expressed his best wishes for Sheikh Tamim bin Hamad Al Thani, the Emir of Qatar, and the friendly Qatari people during the call. The premier of Qatar expressed gratitude to Pakistan and its leadership in return.
During the present Gulf crisis, PM Shehbaz thanked Qatar for supporting Islamabad’s diplomatic efforts to bring about peace. A peace deal between the key parties is anticipated to be ready for signing in the near future, he said, based on advancements discussed during the discussion.
The prime of Qatar applauded Pakistan’s diplomatic efforts and thanked Field Marshal Syed Asim Munir and Prime Minister Shehbaz Sharif for helping to advance and facilitate the dialogue process. He said that both leaders have made significant contributions to maintaining the course of negotiations and promoting positive stakeholder communication.
Sheikh Al Thani expressed hope that these efforts will lead to long-term stability and collaboration throughout the region and reiterated Qatar’s complete support for Pakistan’s peace aspirations.
During the event, PM Shehbaz also reaffirmed his invitation to the Emir of Qatar to make an official visit to Pakistan. This invitation was earlier agreed upon by both parties and is still being considered.
In order to improve bilateral engagement and support existing diplomatic efforts, the two leaders agreed to continue tight coordination and regular consultations at the end of the discussion.
Latest News
Sindh governor opens NADRA Mega Centre in Karachi’s Surjani
Sindh Governor Syed Nihal Hashmi opened a new NADRA Mega Centre in Surjani area of Karachi to provide better access to identity registration and documentation services to the citizens of the locality and neighbouring areas.
The newly designed facility has separate service counters for older folks and persons with disabilities for more convenience, NADRA officials said. Overall, the mega complex features 20 one-window counters, providing a range of services under one roof.
The centre also contains a large waiting space that can take in 200 people at a time, officials said. The facility will be capable of serving more than 2,000 applicants within a 24-hour period.
The mega centre when established will offer all NADRA services to millions of residents of Surjani and adjacent areas under one roof. The officials also stated that a zonal office in the building will help locals avoid travelling to the Ayesha Manzil office for relevant services.
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Business
Dollar hovers at two-week low as rate-hike forecasts fade, emphasis on beleaguered yen
The U.S. dollar held near a two-week low on Monday as investors trimmed bets for a Federal Reserve rate hike this year, while the yen stayed locked near a 40-year low, putting investors on edge over what Tokyo would do next.
The euro bought $1.1435, close to its best level in two weeks, and the pound bought $1.3351 in latest trading. The dollar index, which measures the U.S. currency against six others, was at 100.9 early in the trading day.
The yen stood at 161.57 to the dollar, not far from a 1986 low of 162.84 set last week, with traders still concerned of probable intervention after a surprising burst of purchasing momentarily raised the currency on Thursday.
The South Korean won edged higher on the first day of its historic 24-hour onshore spot dollar-won trading. It sold for 1,534 to the dollar.
DOLLAR ON THE DEFENSIVE
The U.S. dollar suffered its largest weekly loss last week since April after the U.S. payrolls report indicated that job growth slowed abruptly in June, lowering market expectations of a rate hike from the Fed.
Still, the fall in the unemployment rate indicates a healthy labour market and should assist preserve Fed tightening expectations, OCBC strategists said.“The broader USD outlook remains constructive,” they wrote, confirming their call for a modest 2-3% rise in the dollar in the second half of 2026.
Falling oil prices have helped soothe some inflationary concerns, and investors this week will focus on the minutes of the Fed’s June meeting to help evaluate policymakers’ thinking regarding the rates forecast.
Strategists at Commonwealth Bank of Australia said the minutes might be shorter or less insightful than normal because Fed Chairman Kevin Warsh believes the central bank has offered too much direction in the past.
YEN VIGIL ON
The yen remained in the spotlight, hovering near a 40-year low as the threat of official intervention kept traders on edge, but analysts doubted any move by Tokyo would provide durable assistance.
OCBC strategists said the danger of intervention is more likely to create bouts of volatility and transitory corrections rather than a durable reversal in USD/JPY.”Without a meaningful change in underlying macro fundamentals, verbal warnings and outright intervention alone are unlikely to change the broader direction of the pair,” they concluded. The Japanese policymakers have also broken their tradition of telegraphing risks, suggesting a more targeted drive to squeeze speculators and boost the cost of betting against the yen, which investors are also worried about.Marc Chandler, chief market strategist at Bannockburn Global Forex, said, “The market understands about the risk of intervention. “We’re still seeing indications in the options market that some sizable pools of capital have bought short-dated dollar puts to hedge long dollar positions in the event of intervention,” he said.
Business
Finance minister introduces Invest Pak Portal to promote investment
Federal Finance Minister Muhammad Aurangzeb Monday inaugurated the InvestPak portal, saying the government is dedicated to offering greatest assistance to the investors and Pakistan has tremendous investment potential.
Speaking at the opening ceremony, the finance minister commended Jameel Ahmad for the effort, saying the InvestPak portal was the beginning of a new era of investment in the country.
The portal has been developed to attract foreign investment and provide investors with faster access to investment possibilities through a sophisticated digital platform, he added.
Pakistan has huge investment potential in all sectors and InvestPak site would facilitate and expedite the investment process while delivering services according to international standards, Additional Secretary, Ministry of Industries and Production, Muhammad Aurangzeb said on Wednesday.
Now anyone can contribute as low as Rs5,000 through JazzCash app, the finance minister said adding that these investments would be helpful for ordinary investors. He further added that the participation in the Pakistan Stock Exchange has increased and the government is encouraging the youth especially the Gen-Z to look into chances for investment.
He said that digital platforms like InvestPak are a major milestone for the country’s economic development and the private sector plays a critical role in fostering sustainable economic progress.
GOVERNOR, STATE BANK.
Earlier, State Bank Governor Jameel Ahmad said effective efforts are being implemented to promote the investment and added that InvestPak portal will play a crucial role in expanding digital investment in Pakistan.
The platform would enable investors to access investment-related services online more efficiently and transparently, he said.
Jameel Ahmad said that the country’s economy was heading towards stability and the one-window facility provided through the portal would speed up the investment procedures while boosting transparency and convenience through a contemporary digital system.
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