King Salman met Chinese Vice Premier Zhang Gaoli in Jeddah earlier this week amid a flurry of deal-making between the countries, which are both pursuing economic transformation plans through Saudi Arabia’s Vision 2030 and China’s Belt and Road Initiative, the Arab News reported.
Both sides plan to jointly operate the investment fund, sharing costs and profits on a 50:50 basis, according to Saudi Energy Minister Khalid Al-Falih.
Saudi Arabia is pursuing an aggressive international investment strategy spearheaded by the Public Investment Fund (PIF), which is taking multibillion-dollar stakes in companies such as Uber Technologies. The PIF is set to become the world’s largest fund when it receives the proceeds from the initial public offering (IPO) of Saudi Aramco.
The closer ties between China and Saudi Arabia may also extend to international debt markets if the Kingdom looks to add foreign bond sales denominated in yuan as well as dollars.
Crown Prince Mohammed bin Salman is driving an ambitious economic diversification plan which aims to reduce the country’s dependence on oil and boost investment in new sectors.
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 March 31, 2023 (Friday).
Source: Forex Association of Pakistan. (last update 09:00 AM)
|UK Pound Sterling||GBP||347.5||351|
|Hong Kong Dollar||HKD||36.11||36.46|
|New Zealand Dollar||NZD||175.57||177.58|
KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 208,200 on Friday. The price of 10 grams of 24k gold was recorded at Rs178,500.
Likewise, 10 grams of 22k gold were being traded for Rs163,624 while a single tola of 22-karat gold was being sold at Rs 190,849.
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.
|Lahore||PKR 208,200||PKR 2,470|
|Karachi||PKR 208,200||PKR 2,470|
|Islamabad||PKR 208,200||PKR 2,470|
|Peshawar||PKR 208,200||PKR 2,470|
|Quetta||PKR 208,200||PKR 2,470|
|Sialkot||PKR 208,200||PKR 2,470|
|Attock||PKR 208,200||PKR 2,470|
|Gujranwala||PKR 208,200||PKR 2,470|
|Jehlum||PKR 208,200||PKR 2,470|
|Multan||PKR 208,200||PKR 2,470|
|Bahawalpur||PKR 208,200||PKR 2,470|
|Gujrat||PKR 208,200||PKR 2,470|
|Nawabshah||PKR 208,200||PKR 2,470|
|Chakwal||PKR 208,200||PKR 2,470|
|Hyderabad||PKR 208,200||PKR 2,470|
|Nowshehra||PKR 208,200||PKR 2,470|
|Sargodha||PKR 208,200||PKR 2,470|
|Faisalabad||PKR 208,200||PKR 2,470|
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