Arrow McLaren driver Pato O’Ward capped off a whirlwind week behind the wheel of two of the fastest open-wheel cars in motorsports at two different venues.
O’Ward’s special week began Tuesday at Indianapolis Motor Speedway,…
By developing a new theoretical relation describing just how compact neutron stars — which are the remnants of massive stars that have gone supernova — can get, researchers have found a way to test the properties of nuclear physics under…
You can’t keep a good monster hunter down.
Coming on top of a multi-company bidding war, Blumhouse, the prolific horror-centric banner behind Black Phone 2 and the upcoming Five Nights at Freddy’s 2, has snagged the rights to Something…
Northampton Saints: Hendy; Freeman, Hutchinson, Dingwall (c), Todaro; Smith, Mitchell; Fischetti, Smith, Davison, Lockett, Van der Mescht, Coles, Pearson, Pollock
Replacements: Wright, Iyogun, Green, Prowse, Chick, McParland, Belleau, Litchfield
Continue Reading
Radiologist Pamela Woodard, MD, of Washington University (WashU) School of Medicine, has received the high honor of election to the National Academy of Medicine (NAM).
NAM noted Woodard’s election for her leadership as director…
Glasgow Warriors: Josh McKay, Kyle Steyn (capt), Stafford McDowall, Sione Tuipulotu, Kyle Rowe; Adam Hastings, George Horne; Jamie Bhatti, Johnny Matthews, Murphy Walker, Max Williamson, Scott Cummings, Gregor Brown, Matt Fagerson, Jack Dempsey.
Continue Reading
State Bank of Pakistan. Photo: File
The State Bank of Pakistan (SBP) on Friday injected a total of Rs4.245 trillion into the financial system through reverse repo and Shariah-compliant Mudarabah-based open market operations (OMOs).
According to the central bank, the liquidity injection included Rs3.914 trillion through conventional reverse repo OMOs and Rs331 billion via Islamic Mudarabah-based operations. The OMO was conducted for seven-day and 14-day tenors.
For the seven-day reverse repo, the SBP received 18 bids totalling Rs3,643 billion at rates ranging between 11% and 11.07%, out of which 17 bids worth Rs3,642.5 billion were accepted at a rate of 11.01%. In the 14-day tenor, the central bank received 11 bids amounting to Rs272.5 billion, with accepted bids of Rs272 billion at a rate of 11.02%.
In its Shariah-compliant Mudarabah-based OMO, the SBP received four bids for the seven-day tenor, offering Rs331 billion at returns from 11.06% to 11.12%. The entire amount was accepted at 11.06%, while no bids were received for the 14-day Islamic tenor.
According to data released by the SBP, the rupee closed at Rs281.02 per dollar, gaining Rs0.01 from the previous day’s rate.
Meanwhile, gold prices in Pakistan continued their downward trajectory, mirroring trends in the international market, where the precious metal struggled to recover despite slightly softer-than-expected US inflation data that bolstered expectations of a Federal Reserve rate cut next week.
According to the rates issued by the All-Pakistan Gems and Jewellers Sarafa Association, the price of gold per tola fell by Rs2,000, settling at Rs431,862, while the price of 10 grams declined by Rs1,714 to Rs370,252.
The fall marks the first weekly loss in nearly 10 weeks as global investors adjusted their positions ahead of next week’s US monetary policy announcement.
On Thursday, the yellow metal had already recorded a sharp drop of Rs3,500 per tola, bringing local prices down from recent highs. The consistent downward pressure reflects international market sentiment, where gold has been trading in a narrow band after heavy profit-taking earlier in the week.