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PM reiterates Pakistan’s abiding interest for peace, reconciliation in Afghanistan

ISLAMABAD: Prime Minister Imran Khan on Wednesday reiterated Pakistan's abiding interest in achieving peace and reconciliation in Afghanistan through political settlement. He said this while talking to US Secretary of State's Special Representative for Afghanistan Reconciliation Ambassador Zalmay Khalilzad who called on him in Islamabad. Recalling his long personal commitment to the cause of peace in the region, the prime minister welcomed President Trump's letter and the US assurance to work with Pakistan on this…

Firmer US dollar boosts corporate interest in currency hedging

NEW YORK: US multinational companies are starting to reevaluate their currency hedging strategies after a surge in the dollar in recent months, as the impact of the stronger greenback starts to show up in second-quarter corporate earnings. A stronger dollar claimed Netflix as its first victim of the earnings season on Monday. The company, which does not hedge its revenue with derivatives, said foreign exchange rates pushed its expectations on the 2018 operating margin to near the lower end of its target range. “This will…

Kremlin says no interest in US arms race in ‘invincible weapons’ row

MOSCOW: The Kremlin on Friday said Russia will not be part of a new arms race as the United States and NATO voiced concern over Vladimir Putin's boasts of new "invincible" weapons. Putin stunned the West -- and many in Russia -- on Thursday by using his state of the nation address to unveil a new arsenal of hypersonic weapons and submarines less than three weeks before an election is expected to extend his rule until 2024. The revelations came with ties between Russia and the West at post-Cold War lows over the Syria…

Interior minister says Pakistan’s resolve against terrorism in its own interest

ISLAMABAD: Interior Minister Ahsan Iqbal on Saturday said Pakistan's resolve against terrorism was in its own interest, and not for serving the interests of the United States. He categorically stated that the government would safeguard national interest at all costs. “Pakistan will continue playing its role for peace and stability in the region in collaboration with the regional states,” he said while talking to newsmen in Islamabad after visiting the weekly bazaar to review damages caused by fire there on Wednesday.…

China warns Trump against ignoring its Taiwan interests

BEIJING: China expressed "serious concern" on Monday after US President-elect Donald Trump said the United States did not necessarily have to stick to its long-held stance that Taiwan is part of "one China", calling it the basis for relations. Trump's comments on "Fox News Sunday", questioning nearly four decades of US policy, came after he prompted a diplomatic protest from China over his decision to accept a telephone call from Taiwan President Tsai Ing-wen on Dec. 2. China's Foreign Ministry said cooperation was…

Mexican central bank hikes interest rate after Trump win

MEXICO CITY: Mexico's central bank raised its key interest rate on Thursday after Donald Trump's US presidential election victory last week rocked the peso and global markets. As expected by analysts, the bank lifted the rate by 50 basis points to 5.25 percent, saying in a statement that the election "led to an increase in volatility in financial markets of every region." "With this action, we seek to counter inflationary pressures and keep inflation expectations anchored," the statement said. The Mexican currency…