Tag: China

Zoho CEO Denies Reports About Investing in Odisha For Rs 3,034 Crore

Uncategorized

France is investigating suspected smuggling to China and Russia of advanced chip technology

July 27, 2023

Le Pecq (France): French magistrates have filed preliminary charges against two Chinese citizens and two other people from France in ...

Among Asian countries, the Indian women's team is ranked 11th.

Sports

India clubbed with China, Bangladesh, Myanmar in men’s draw; Thailand, Taipei in women’s football at Hangzhou Asian Games

July 27, 2023

Hangzhou: The Indian men's football team has been clubbed with China, Bangladesh and Myanmar for the Hangzhou Asian Games in ...

International

North Korean leader Kim Jong Un meets Russian Defence Minister on military cooperation

July 27, 2023

Seoul (South Korea): North Korean leader Kim Jong Un met with Russian Defence Minister Sergei Shoigu to discuss military issues ...

National

PM Narendra Modi says India will be among world’s top three economies in his third term

July 26, 2023

New Delhi: Prime Minister Narendra Modi Wednesday laid bare his blueprint for a third term of his government, saying India ...

Sports

Malaysian Syazrul Idrus records best bowling figures of 7 for 8 in men’s T20s

July 26, 2023

Kuala Lumpur: Little-known Malaysia seamer Syazrul Idrus Wednesday became the first male cricketer to take seven wickets in a T20 ...

Russian President Vladimir Putin and Chinese President Xi Jinping arrive for a welcoming banquet at the Great Hall of the People in Beijing, China (File pic)

International

Russian President Vladimir Putin plans to visit China in October: Kremlin

July 26, 2023

Moscow: Russian President Vladimir Putin plans to visit China in October, a top Kremlin official announced Tuesday. Russian news agencies ...

Home News

Ajit Doval slams China at BRICS NSAs’ meeting, says ‘UNSC sanctions committee should be free from double standards’

July 26, 2023

Johannesburg: In a veiled attack on China, National Security Advisor Ajit Doval has said the BRICS group could work together ...

International

International Monetary Fund projects Indian economy to grow at 6.1 per cent in 2023

July 25, 2023

Washington: The International Monetary Fund Tuesday projected a growth rate of 6.1 per cent for India in 2023, which is ...

Home News

China sacks ‘missing’ foreign minister Qin Gang, reappoints Wang Yi

July 25, 2023

Beijing: China Tuesday sacked Foreign Minister Qin Gang and reappointed top diplomat Wang Yi to the post, ending the rare ...

Smuggling of US dollars to Afghanistan hurting Pakistan's economy Karachi: The Pakistani currency is under pressure owing to the ongoing political unrest in the country and the smuggling of US dollars to Afghanistan, media reports said on Tuesday. "Pakistan is currently dealing with problems on several fronts, the political crisis being the first and biggest one. The dollar crisis is also connected with it," Malik Bostan, the Chairman of the Exchange Companies Association of Pakistan (ECAP), said at a news conference, The News reported. About $2 billion goes to Afghanistan from Pakistan in the form of official and unofficial trade, misuse of Afghan transit trade, smuggling and through the borders, claimed Bostan, adding that these factors are burdening Pakistan's foreign exchange reserves. Currently, Pakistan's economy is suffering irreparable harm because of the Afghan transit trade, which has grown significantly. A significant portion of the dollars travelling from Pakistan to Afghanistan passes through the Afghan transit trade, and both Afghan and Pakistani traders are involved in this anti-national activity, he added, The News reported. To lower the import bill, the government imposed high duties on many luxury goods. "Our traders and importers thought that why should they pay a 200 per cent duty to the Pakistani government," Bostan said, adding that they operate a global network, accepting payments through hundi/hawala in Dubai, London, Europe, America, Saudi Arabia, and everywhere else. "They bring their items here in the name of Afghan transit, travelling from our port to Afghanistan and then returning to Pakistan in small trucks. Numerous importers from Pakistan who participate in this atrocious practice not only fail to pay import duties, which costs the national exchequer billions of rupees, but also prevent dollars from entering the country," he said. When the Afghan Taliban established a transition government in August 2021, the Pakistani rupee was trading at 155, the country's foreign exchange reserves were $22 billion, and its import bill was $4.5 billion. According to Bostan, today the rupee has fallen to almost 225 in the interbank market and 235 per dollar in the free market, The News reported. He claimed that every month, about $3 billion in remittances were sent to Pakistan. The remittance flows have now decreased to $2 billion. "Where does this monthly $1 billion go? Because we are paying remittances at 225 rupees for every dollar, this $1 billion per month has become the sight of Afghan transit. The hawala/hundi operators are giving those 270 for every dollar," Bostan said. IANS Pakistan, Afghanistan, economy

International

Pakistani rupee depreciates by Rs 1.8 against US dollar in interbank & open markets

July 25, 2023

Karachi: The Pakistani rupee lost value to the US dollar in the interbank and open markets Tuesday as the initial ...

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Editorial

The Accountability Test

October 10, 2026

By Dilip Cherian For a service that has perfected the art of surviving governments, political regimes, and the occasional scandal,...

October 7, 2026

Brazil, the largest South American country with a Leftist government, is poised to come within the orbit of the influence...

October 6, 2026

The Supreme Court stating on 5 October that it has not approved any modifications to Form 6 being used by...

October 5, 2026

India’s air-power shortcomings are becoming harder to ignore. Air Chief Marshal AP Singh, very publicly, flagging Pakistan’s collaboration with China...

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