KARACHI. The selling of dollars to banks fell by $70 million in February, said currency dealers on Monday. The open market had been selling over $300m for most of the months in the current fiscal year. “In January we sold about $320m to the banks but it fell to around $250m in February,” said Malik Bostan, Chairman Exchange Companies Association …

KARACHI: Trading in the newly listed Mahaana Islamic Index Exchange Traded Fund (MIIETF), managed by Mahaana Wealth Ltd (MWL), began on Monday. The Pakistan Stock Exchange (PSX) said the ETF was aimed to track the performance of the Mahaana Islamic Index (MII30) whereby the index would be periodically rebalanced and reconstituted to provide long-term appreciation and dividend yield to investors. …

KARACHI: The benchmark KSE 100-share index continued to flirt with the 66,000-point level on an intraday basis but a close above that mark was still elusive despite a bullish beginning with a spike in trading volume on Monday. Topline Securities Ltd said the index remained in the green for most part of the session hitting an intraday high of 326 …

SEOUL: South Korea said on Monday it had started procedures to suspend the medical licences of 4,900 junior doctors who have resigned and stopped working to protest government medical training reforms, causing healthcare chaos. The walkout, which started Feb 20, is over government plans to sharply increase the number of doctors, which it says is essential to combat shortages and serve South …

Auckland: At least 50 people were hurt when a Boeing 787 operated by LATAM Airlines dropped abruptly mid-flight from Sydney to Auckland on Monday, according to the airline and a New Zealand health service organisation that treated the injured. The aircraft experienced a strong shake and as a result 10 passengers and three cabin crew members were taken to a …

NEW DELHI: India has successfully test-fired a domestically developed ballistic missile capable of carrying multiple nuclear warheads for the first time, Prime Minister Narendra Modi said Monday. Modi said he was “proud” the launch of “the first flight test of indigenously developed Agni-5 missile with Multiple Independently Targetable Re-entry Vehicle (MIRV) technology”, in comments on social media platform X. The …

NEW DELHI: Four years after the contentious Citizenship (Amendment) Act (CAA) was enacted, the Narendra Modi government on Monday notified necessary rules for the law to be implemented. The timing of the long expected announcement coincided with the Supreme Court’s order to the State Bank of India to produce and publish by March 15 the list and details of beneficiaries of …

LONDON: Embattled UK leader Rishi Sunak suffered a fresh blow on Monday when a former ally defected to a right-wing populist party that is worrying the ruling Conservatives ahead of this year’s general election. Lee Anderson announced that he was joining Reform UK, weeks after he was suspended from Sunak’s Conservative party over comments widely condemned as racist and Islamophobic. …

BEIJING: China’s parliament on Monday revised a law to effectively grant the Communist Party more executive control over China’s cabinet, the State Council, after cancelling the premier’s post-parliament news conference for the first time in three decades. The amended State Council Organic Law passed by 2,883 delegate votes, with eight opposing and nine abstaining, during the closing day of the …

UNITED NATIONS: As Ramazan commences, global leaders united in recognising the significance of the holy month and called for silencing guns in Gaza. US President Joe Biden pledged international efforts to deliver humanitarian aid to Gaza in his Ramazan message and committed to working tirelessly for an immediate six-week ceasefire. Simultaneously, UN Secretary-General António Guterres passionately appealed for peace in Gaza, …