Search

Putin, Trump agree that arms race is 'undesirable'

Muhammad Irfan 08:55 PM | 21 Mar, 2018
Putin, Trump agree that arms race is 'undesirable'
MOSCOW - The presidents of Russia and the US discussed a possible arms race involving the two nations, and agreed that such an outcome was not desired by either, the Kremlin has confirmed.

The subject was discussed by Vladimir Putin and Donald Trump in a phone call on Tuesday, a Kremlin spokesman told journalists on Wednesday. “There was an agreement between the two leaders during their conversation that an arms race would be undesirable,” Dmitry Peskov said. He added that no potential arms-reduction agreements were discussed by the two leaders.

Earlier, President Trump announced that he will meet President Putin “in the not too distant future to discuss the arms race, which is getting out of control.”

The US and Russia have both announced improvements to their respective defense capabilities. The Trump administration asked lawmakers for additional funding for the American military, part of which would be spent on upgrading its nuclear arsenal. The latest US Nuclear Posture Review proposed developing new nuclear weapon delivery systems, as well as creating a tactical-size nuclear warhead.

Russia has said that it is developing several new strategic weapons, which it called an affordable response to the US pursuit of a global anti-ballistic missile defense system. This includes a replacement for its ageing silo-based ICBMs, a hypersonic glider, a hypersonic air-launched missile, a nuclear-capable cruise missile with “unlimited” range, and an underwater drone carrying a nuclear warhead.

Moscow said it was not seeking to engage in a new arms race with the US, but needed new weapons to dissuade American military planners and politicians from presuming that a nuclear strike against Russia could succeed in preventing a retaliatory strike against America.

Muhammad Irfan

The writer is a staff member. He has been affiliated with Pakistan's leading English newspapers and worked as News Producer at FM 107.4. Death (as...he believes...life is a station, and death is a longest journey from seen to ...

Advertisement

Rupee gains massive recovery against US dollar after SBP relaxes rules for banks

KARACHI – The Pakistani rupee experienced a significant surge in its value in the open market against the dollar.

This surge came after a recent directive from the State Bank of Pakistan (SBP), allowing banks to purchase dollars at the interbank market rate for international card payments. The objective of this move was to narrow the exchange rate gap between the official and informal markets.

According to the Exchange Companies Association of Pakistan, the currency market witnessed the dollar being traded at Rs298, compared to its previous day’s closing rate of 311.

The SBP’s decision was influenced by the International Monetary Fund’s demand for Pakistan to stabilize its currency market before resuming a $6.5 billion bailout program.

In a circular, the central bank stated, “In response to the feedback received from various stakeholders, Authorized Dealers are now permitted to buy USD from the Interbank market to settle card-based cross border transactions with international payment schemes (IPS).”

Market analysts had predicted a decline in the value of the rupee following the implementation of these new guidelines.

Zafar Paracha, the General Secretary of the ECAP, expressed that the SBP’s decision was timely and appropriate. He anticipated that it would lead to a decrease of 20 to 25 rupees in the open market currency rate. Paracha also noted that aligning the rates in the official and informal markets would bolster remittance inflows.

Pracha further emphasized that significant disparities in rates between the official and informal markets encourage transactions outside of the official banking system.

https://en.dailypakistan.com.pk/01-Jun-2023/today-s-currency-exchange-rates-in-pakistan-dollar-euro-pound-riyal-rates-on-june-1-2023

Today's gold rates in Pakistan – June 1, 2023

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 229,000 on Thursday. The price of 10 grams of 24k gold was recorded at Rs197,620.   

Likewise, 10 grams of 22k gold were being traded for Rs181,150 while a single tola of 22-karat gold was being sold at Rs 211,290.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

City Gold Silver
Lahore PKR 229,000 PKR 2125
Karachi PKR 229,000 PKR 2125
Islamabad PKR 229,000 PKR 2125
Peshawar PKR 229,000 PKR 2125
Quetta PKR 229,000 PKR 2125
Sialkot PKR 229,000 PKR 2125
Attock PKR 229,000 PKR 2125
Gujranwala PKR 229,000 PKR 2125
Jehlum PKR 229,000 PKR 2125
Multan PKR 229,000 PKR 2125
Bahawalpur PKR 229,000 PKR 2125
Gujrat PKR 229,000 PKR 2125
Nawabshah PKR 229,000 PKR 2125
Chakwal PKR 229,000 PKR 2125
Hyderabad PKR 229,000 PKR 2125
Nowshehra PKR 229,000 PKR 2125
Sargodha PKR 229,000 PKR 2125
Faisalabad PKR 229,000 PKR 2125
Mirpur PKR 229,000 PKR 2125

Advertisement

Follow us on Facebook

Follow us on Twitter

Sign up for Newsletter