Germany supports expansion of Schengen zone with addition of two countries

08:40 PM | 5 Oct, 2023
Germany supports expansion of Schengen zone with addition of two countries

BERLIN -  Bulgaria and Romania's entry to the Schengen zone has bagged the support of Germany as Chancellor Olaf Scholz reiterated his comments for the said move.

In a joint press conference with Bulgarian Prime Minister Nikolai Denkov in Berlin, the chancellor said now is the time for the Western Balkan states to become members of the European Union, referring to the fact that 20 years ago, the EU made a corresponding commitment in Thessaloniki.

Recently, the Bulgarian Minister of Internal Affairs, Kalin Stoianov, also expressed his hopes that both Balkan countries would be allowed to become part of the Schengen Zone by the end of this year, stressing that the Spanish Presidency of the Council of the European Union will do anything for the finalization of this process. 

Calls have been made to include both the countries in the zone and last month, the European Commission President, Ursula von der Leyen, also said that both countries should acquire membership to the Schengen Zone without further delays, Schengenvisainfo reported.

von der Leyen implied that both states have been showcasing best practices on asylum as well as returns, stressing that border protection has been steeped up.

Despite the support,  Austria continues to oppose the accession of these two countries to the Schengen Zone citing that the Schengen system is not working, and thus, there is no point in further extending it.

It bears mentioning that Bulgaria and Romania have been waiting to become part of the Schengen Zone for more than ten years now.

Bulgaria, situated in Southeast Europe, is a country rich in history and culture. It boasts stunning landscapes, from the Black Sea coast to the Balkan Mountains. With a diverse heritage, including Thracian, Roman, and Byzantine influences, Bulgaria offers visitors ancient ruins, traditional folk music, and warm hospitality. Sofia, its capital, showcases a blend of modernity and historic charm, making Bulgaria an enchanting destination.

On the other hand, Nestled in Eastern Europe, Romania captivates with its diverse landscapes and captivating folklore. It is known for the enchanting castles of Transylvania, such as Bran Castle, often associated with the legend of Dracula. Bucharest, the vibrant capital, harmonizes historical architecture with contemporary flair. Romania's scenic Carpathian Mountains and the enchanting region of Maramures add to its allure.


Pakistani rupee registers marginal gain against US Dollar, Euro, Pound, Riyal and Dirham; Check forex rates

Pakistani rupee continued its momentum against the US dollar, and orther currencies in the open market on Thursday, as the local currency also improved in the inter-bank market.

Dollar Rate in Pakistan Today

On Thursday, the US dollar moved down and was being quoted at 283.2 for buying and 286.15 for selling.

Euro comes down to 308 for buying and 311 for selling. British Pound rate dropped to 358.5 for buying, and 362 for selling.

UAE Dirham AED witnessed slight drop and new rate stands at 77.4 whereas the Saudi Riyal remained stable at 76.

Today's currency exchange rates in Pakistan - 7 December 2023

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar USD 283.2 286.15
Euro EUR 308 311
UK Pound Sterling GBP 358.5 362
U.A.E Dirham AED 77.4 78.1
Saudi Riyal SAR 76 76.8
Australian Dollar AUD 187.2 189
Bahrain Dinar BHD 757.23 765.23
Canadian Dollar CAD 209 211
China Yuan CNY 39.89 40.29
Danish Krone DKK 41.19 41.59
Hong Kong Dollar HKD 36.41 36.76
Indian Rupee INR 3.42 3.53
Japanese Yen JPY 1.39 1.45
Kuwaiti Dinar KWD 921.71 930.71
Malaysian Ringgit MYR 61.02 61.62
New Zealand Dollar NZD 174.54 176.54
Norwegians Krone NOK 26.05 26.35
Omani Riyal OMR 739.62 747.62
Qatari Riyal QAR 78.22 78.92
Singapore Dollar SGD 211 213
Swedish Korona SEK 27.12 27.42
Swiss Franc CHF 324.94 327.44
Thai Bhat THB 8.06 8.21

Gold prices in Pakistan move down despite positive global cues; Check latest rates here

Gold price in Pakistan remained under pressure as the yellow metal moved down despite an upward trend in the international market.

Gold Rates in Pakistan Today - 7 December 2023

On Thursday, the price of a single tola of 24-karat gold stands at Rs217,100 and 10 grams of 24k gold costs Rs186,130. 

Single tola of 22 Karat Gold costs Rs199,000, 21 karat rate for per tola is Rs189,960 and 18k gold rate is Rs162,825.00 for each tola.

In the global market, gold prices hover at around $2026, gaining $8.30 on Thursday.

Today Gold Rate in Pakistan

Today Gold Price in Pakistan (4 September 2023)

City Gold Silver
Lahore PKR 217,100 PKR 2,565
Karachi PKR 217,100 PKR 2,565
Islamabad PKR 217,100 PKR 2,565
Peshawar PKR 217,100 PKR 2,565
Quetta PKR 217,100 PKR 2,565
Sialkot PKR 217,100 PKR 2,565
Attock PKR 217,100 PKR 2,565
Gujranwala PKR 217,100 PKR 2,565
Jehlum PKR 217,100 PKR 2,565
Multan PKR 217,100 PKR 2,565
Bahawalpur PKR 217,100 PKR 2,565
Gujrat PKR 217,100 PKR 2,565
Nawabshah PKR 217,100 PKR 2,565
Chakwal PKR 217,100 PKR 2,565
Hyderabad PKR 217,100 PKR 2,565
Nowshehra PKR 217,100 PKR 2,565
Sargodha PKR 217,100 PKR 2,565
Faisalabad PKR 217,100 PKR 2,565
Mirpur PKR 217,100 PKR 2,565


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