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US President Trump has active bank account in China, reveals leading American newspaper

Web Desk 09:15 PM | 21 Oct, 2020
US President Trump has active bank account in China, reveals leading American newspaper

WASHINGTON: US President Donald Trump, who is known for painting China as a major threat to America, has a previously unknown bank account in China, reveals The New York Times amid ongoing campaigns for presidential polls. 

The report would dent Trump’s political career as he in recent days made claims that his rival in presidential elections, Joe Beiden has soft corner for Beijing by highlighting his son Hunter’s business dealings in China and Ukraine. 

The US-based media outlet said that Trump set up an office in China during his first run for president and partnered with a major government-controlled company.

The paper on the basis of analysis of president’ tax records said that the account is operated by Trump International Hotels Management. It further said that Trump also has accounts in Britain and Ireland. 

The firm, according to tax record, "paid $188,561 in taxes in China while pursuing licensing deals there from 2013 to 2015," said NYT report.

Trump Organization lawyer 

Alan Garten, a lawyer of Trump Organization, while talking to the paper revealed that the company had "opened an account with a Chinese bank having offices in the United States in order to pay the local taxes."

"No deals, transactions or other business activities ever materialized and, since 2015, the office has remained inactive," he told NYT. "Though the bank account remains open, it has never been used for any other purpose."

Trump has been framed China as threat to America and global democracy. In recent months, his policies against China-based tech firms is one of the examples. His trade curbs against Beijing also cost china loss of billions of dollars. 

Web Desk
Web Desk

Daily Pakistan Global Web Desk

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KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on February 7, 2022 (Tuesday).

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

Currency Symbol Buying Selling
US Dollar ‎USD 279 282
Euro EUR 296.67 297.26
UK Pound Sterling GBP 331.71 332.41
U.A.E Dirham AED 74.8 75.1
Saudi Riyal SAR 73.21 73.51
Australian Dollar AUD 190.31 192.72
Bahrain Dinar BHD 732.23 740.23
Canadian Dollar CAD 205.22 207.42
China Yuan CNY 40.72 41.12
Danish Krone DKK 39.92 40.32
Hong Kong Dollar HKD 35.08 35.43
Indian Rupee INR 3.35 3.46
Japanese Yen JPY 2.5 2.54
Kuwaiti Dinar KWD 900.32 909.32
Malaysian Ringgit MYR 64.65 65.25
New Zealand Dollar NZD 174.19 176.19
Norwegians Krone NOK 27.12 27.42
Omani Riyal OMR 715.11 723.11
Qatari Riyal ‎QAR 75.64 76.34
Singapore Dollar SGD 208.03 210.03
Swedish Korona SEK 26.1 26.4
Swiss Franc CHF 297.31 299.81
Thai Bhat THB 8.25 8.4

KARACHI – The gold price in Pakistan dropped by Rs4,300 per tola to reach Rs200,000 on Tuesday as it lost ground on second consecutive day after witnessing mostly bullish trend last week.

As per the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 10 grams of 24 carats gold decreased by Rs3,686 to settle at Rs171,468.

On Monday, the gold price witnessed a drop of Rs200 per tola to close at Rs204,300.

In the international market, the commodity dropped by $1 to reach $1,869 per ounce.

Meanwhile, silver prices in the domestic market slumped by Rs20 per tola and Rs17.14 per 10 grams to reach at Rs2,230 and Rs1,911, respectively.

https://en.dailypakistan.com.pk/07-Feb-2023/rupee-depreciates-against-us-dollar-again

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