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IMF's Christine Lagarde for million-dollar "sham" payout to corrupt French businessman

Khurram Shahzad 11:09 PM | 22 Jul, 2016
IMF's Christine Lagarde for million-dollar
FRANCE – France's Supreme Court rejected IMF head Christine Lagarde's appeal against the decision to try her for negligence in her handling of an affair that saw tycoon Bernard Tapie walk away with a massive payment of €403 million (£340m) in taxpayer money in 2008.

Bernard Tapie, a former French football team owner and some time pop star, won €403 million in 2008 in a case against the French public bank Crédit Lyonnais, after he said the bank had undervalued his stake in Adidas. After Tapie won a case against the bank, Christine Lagarde signed off on the payout as France's minister of Finance at the time.

Investigating judges later deemed the payout to be a “sham” after it was revealed that one of Tapie's lawyers had links to one of the judges, The Independent reported.

Lagarde could risk a maximum penalty of one year in prison and a fine of €15,000 euros, if convicted.

She is to stand trial at the Court de Justice de la Republique, which  deals with ministers accused of crimes related to their positions.

Her lawyer Patrick Maisonneuve expressed regret over the decision and said he was convinced that the trial would show she was innocent.

“I am convinced that the court will find the allegations of negligence to be without merit,” he said in a statement.

Stephane Richard, Orange chief executive, was also investigated by French police in connection with the Tapie payout. He was Lagarde's chief of staff when she was finance minister.

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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 January 26, 2023 (Thursday).

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

Currency Symbol Buying Selling
US Dollar ‎USD 253.4 255.15
Euro EUR 274 276.6
UK Pound Sterling GBP 311 314
U.A.E Dirham AED 68.7 69.3
Saudi Riyal SAR 66.4 67
Australian Dollar AUD 176 178
Bahrain Dinar BHD 615.68 620.18
Canadian Dollar CAD 186 188
China Yuan CNY 34.12 34.37
Danish Krone DKK 33.83 34.18
Hong Kong Dollar HKD 29.52 29.87
Indian Rupee INR 2.81 2.89
Japanese Yen JPY 2.5 2.54
Kuwaiti Dinar KWD 756.69 761.69
Malaysian Ringgit MYR 52.59 53.04
New Zealand Dollar NZD 148.33 149.53
Norwegians Krone NOK 22.43 22.73
Omani Riyal OMR 600.37 604.87
Qatari Riyal ‎QAR 63.5 64
Singapore Dollar SGD 178 179.3
Swedish Korona SEK 21.78 22.08
Swiss Franc CHF 250.23 251.98
Thai Bhat THB 6.98 7.08

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs190,900 on Thursday. The price of 10 grams of 24k gold was recorded at Rs163,670.

Likewise, 10 grams of 22k gold were being traded for Rs150,300 while a single tola of 22-karat gold was being sold at Rs 173,200.

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 190,900 PKR 2,100
Karachi PKR 190,900 PKR 2,100
Islamabad PKR 190,900 PKR 2,100
Peshawar PKR 190,900 PKR 2,100
Quetta PKR 190,900 PKR 2,100
Sialkot PKR 190,900 PKR 2,100
Attock PKR 190,900 PKR 2,100
Gujranwala PKR 190,900 PKR 2,100
Jehlum PKR 190,900 PKR 2,100
Multan PKR 190,900 PKR 2,100
Bahawalpur PKR 190,900 PKR 2,100
Gujrat PKR 190,900 PKR 2,100
Nawabshah PKR 190,900 PKR 2,100
Chakwal PKR 190,900 PKR 2,100
Hyderabad PKR 190,900 PKR 2,100
Nowshehra PKR 190,900 PKR 2,100
Sargodha PKR 190,900 PKR 2,100
Faisalabad PKR 190,900 PKR 2,100
Mirpur PKR 190,900 PKR 2,100

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