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Central bank to issue Rs50 International Anti-Corruption Day commemorative coin

KARACHI: The State Bank of Pakistan (SBP) to issue Rs50 commemorative coin of International Anti-Corruption Day on December 10. The federal government has authorised the central bank for issuing the coin, which would be available at the exchange counters of all the field offices of SBP Banking Services Corporation from Monday. "Corruption is a complex social, political and economic phenomenon that affects all countries. Corruption undermines democratic institutions, slows economic development and contributes to…

What’s holding up Brexit talks? The Irish issue explained

The main sticking point in Brexit negotiations is how to keep the land border between Britain and Ireland open after Britain leaves the European Union. London believes frontier checks can be avoided through a new trade deal with Brussels, but accepts the need for a fall-back plan to address the issue until that deal is agreed. The terms of the so-called backstop are disputed, however, and both sides are racing to resolve their differences ahead of a key EU summit next week. Why is this an issue? After Brexit, the…

State bank to issue Rs50 Sir Syed Ahmed Khan commemorative coin

The State Bank of Pakistan has announced to issue a Rs50 coin from October 17 to commemorate Sir Syed Ahmed Khan. Sir Syed Ahmed Khan was a renowned author, educationist and Muslim reformer of 19th century, who laid the foundation of Muslim renaissance in Indo Pak sub-continent, which ultimately led to the creation of Pakistan in 1947. On October 17, 2017, the 200th birth anniversary of Sir Syed Ahmed Khan was celebrated. On this occasion, in order to recognize meritorious services rendered by Sir Syed Ahmed Khan…

‘UK extends cooperation to Pakistan in money laundering probe’

ISLAMABAD: Prime Minister Imran Khan and British Home Secretary Sajid Javid on Tuesday discussed a wide range of issues of common interest, including counter terrorism, organized crimes, human trafficking, money-laundering and asset recovery. The British home secretary said that his government was willing to support and extend full cooperation to the government of Pakistan in these areas. He also underscored the need to enhance cooperation in all areas of mutual interest. Imran has expressed the hope that bilateral…

Dramatic turn into snatching of mayor Karachi’s vehicle

KARACHI: The issue of snatching of Mayor Karachi Waseem Akhter’s vehicle turned suspicious after discrepancies in information was found, ARY News reported cited sources. Unidentified men on Saturday snatched Akhtar’s official vehicle at gunpoint in the Defence area. A First Information Report in this regard was lodged after three days of the incident. Investigation agencies including police are thoroughly probing the matter. “When people were inquired at the site of the robbery, nobody was cognizant of any such…

EU warns Irish border issue could still sink Brexit deal

BRUSSELS: The thorny problem of the Irish border could yet scupper a Brexit deal, EU negotiator Michel Barnier warned after talks with his British counterpart Friday, saying "urgent" work was needed to find a solution. Avoiding a hard border between European Union member Ireland and the British province of Northern Ireland after Britain leaves the EU's single market has become a major obstacle to finding a deal. After meeting British Brexit minister Dominic Raab in Brussels, Barnier hailed progress on some security…

PM directs to find permanent solution to circular debt issue

ISLAMABAD: Prime Minister Shahid Khaqan Abbasi on Thursday directed an overhaul of the power transmission, distribution and recovery process of the distribution companies to cut down inefficiencies and to find a permanent solution to the issue of circular debt. He was chairing a meeting in Islamabad to review issues related to furnace oil, petroleum and circular debt. The meeting also reviewed availability and consumption of gas by the power sector. The prime minister directed for constitution of a high level committee…