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☆ Insider Today: Wall Street recruiting hell
▼ + stars: | 2024-06-30 | by ( Matt Turner | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Become an Insider and start reading now. One senior partner at McKinsey told Business Insider that helping clients use generative AI might become most of the firm's work in the future. Alexsl, Tovovan/Getty Images, Abanti Chowdhury/BIGoogle's Gen Z studyResearchers at Jigsaw, a subsidiary of Google, unearthed alarming findings about Gen Z's internet habits. W6/Getty Images; Jenny Chang-Rodriguez/BIPE "Hunger Games"Private equity's annual recruiting process kicked off earlier than ever this year, sending young bankers into a frenzy.

Persons: —, Jenny Chang, Rodriguez, They're, Goldman Sachs, Ashley Kostial, Taylor Glascock, She's, Alberto Miranda, Pong, It's, Abanti Chowdhury, Gen Z, influencers Organizations: Service, Business, Software, Venture, Consulting, McKinsey, SAP, BI, Aetna, Cognition, NFL, Google, Getty Locations: New York City, America, Silicon Valley

☆ That job you're applying for might be fake
▼ + stars: | 2024-06-26 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at how the next job you apply for might be fake . While employment is still relatively low, sitting at only 4% , the job market is also pretty stagnant. ANDREW CABALLERO-REYNOLDS/AFP via Getty ImagesEven if you find a legitimate job posting, it doesn't get much easier. Workers were also spoiled with the 2021 job market, where candidates named their prices . AdvertisementAnd a fake job posting might be a blessing in disguise.

Persons: —, Charles Schwab, MirageC, Jenny Chang, Rodriguez, Tim Paradis, it's, aren't, ANDREW CABALLERO, REYNOLDS, BI's Alexandra Bacon, Roberto Machado Noa, Tyler Le, Meta isn't, Apple, Mark Zuckerberg's, Mustafa Suleyman, execs, Suleyman, Karén Simonyan, Ricardo Tomás, Gen Z, Ashley Kostial, She's, he's, Julian Assange, Evan Gershkovich, Paris Hilton, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Annie Smith, Amanda Yen Organizations: Service, Business, BI, America, Getty, Workers, BI Citi, Citi, showtime, Nvidia, Meta, Wall Street Journal, Apple, Bloomberg, Investors, SAP, Aetna, Wall Street, The Locations: Hulu, New York, London

☆ An SAP employee reported a workplace sexual assault. Now she's breaking her NDA.
▼ + stars: | 2024-06-25 | by ( Matt Drange | ) www.businessinsider.com time to read: +15 min

"It was harder than the initial assault," Kostial said of being stalked. The Aetna NDA only silenced her about the terms of her settlement, not the sexual assault. Kostial has discussed her situation with Vincent White, a New York city-based lawyer who specializes in workplace NDAs and advises signatories on the risks associated with breaking them. Kostial is fearful that if they wed, her wife's finances could be affected if either SAP or Aetna pursues her for breaking her NDA. AdvertisementWhenever she's seized by anxiety, Kostial reminds herself of how hard she's fought to move past the sexual assault and why she's coming forward.

Persons: —, Ashley Kostial, she'd, She'd, Kostial, abrasions, Aetna, Brad Schleier, Schleier, hadn't, NDAs, Taylor Glascock, Kira, She's, Nina Wasow, Jodi Short, Evan Starr, Morton , Illinois Taylor Glascock, galling, Vincent White, White, Zelda Perkins, Harvey Weinstein's, Julie Macfarlane, she's, Hey Ashley —, he'd Organizations: Service, SAP, Marriott, Business, Ariba, Aetna, Aetna NDA, BI, University of California College of the, San, National Labor Relations Board, University of, Plano Police Department Locations: Plano , Texas, Plano, Phoenix, spokespeople, Aetna, Berkeley , California, California, New York, New, Maryland , New Jersey, New Mexico, But Arizona, San Francisco, NDAs, Morton ,, Oakland, Texas, Arizona, Illinois

☆ Shehbaz Sharif Set for Pakistan's Top Job as Elder Brother Steps Aside
▼ + stars: | 2024-02-14 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +5 min

Before his stint as prime minister, the younger Sharif was known more as a good administrator than a politician, having served as chief minister thrice in the country's largest province, Punjab. The deal was signed after Sharif personally called on IMF chief Kristalina Georgieva last June. Although defence and key foreign policy decisions are largely influenced by the military, Sharif will have to juggle relations with the U.S. and China, both major allies. He started his political career as the chief minister of Punjab in 1997 with a signature "can-do" administrative style. As chief minister, the younger Sharif planned and executed a number of ambitious infrastructure mega-projects, including Pakistan's first modern mass transport system in Lahore.

Persons: Asif Shahzad, Gibran Naiyyar Peshimam, Sharif, Nawaz Sharif, Nawaz Sharif's, Maryam, Imran Khan, Shehbaz Sharif, Khan, Shehbaz, Kristalina Georgieva, Tehmina Durrani, Ariba Shahid, Raju Gopalakrishnan Organizations: Pakistan Muslim League, Nawaz, Monetary Fund, IMF, U.S Locations: Gibran Naiyyar Peshimam ISLAMABAD, Sharif, London, country's, Punjab, Pakistan, Saudi Arabia, Qatar, China, India, Iran, Afghanistan, Lahore, Panama, Karachi

☆ Many Pakistanis Make a Perilous Journey to Vote
▼ + stars: | 2024-02-07 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +5 min

With tens of thousands displaced from the tribal regions, most candidates vying to represent constituencies there have campaigned in other cities such as Dera Ismail Khan. "Due to the war, people's houses were destroyed," Moulana Jamal Uddin, a candidate from South Waziristan, told Reuters by phone. "I appeal to the people of South Waziristan to vote," he said. Khan Ullah, a 42-year-old shop owner, said he has avoided political gatherings in Dera Ismail Khan because he feared an attack on them was a real possibility. (Reporting by Saud Mehsud in Dera Ismail Khan; writing by Ariba Shahid in Karachi; Editing by Raju Gopalakrishnan)

Persons: Saud Mehsud DERA ISMAIL, Ullah Mehsud, Mehsud, Dera Ismail Khan, Pakistan's, Amjad Khan, Khan, hometowns, Maulana Raheem Ullah, Moulana Jamal Uddin, Khan Ullah, Saud Mehsud, Ariba Shahid, Raju Gopalakrishnan Organizations: Reuters, Pakhtunkhwa, Pak Institute, Peace Studies, Force Locations: Saud Mehsud DERA ISMAIL KHAN, Pakistan, South Waziristan, Qaeda, U.S, Afghanistan, Waziristan, Khyber, Taliban Pakistan, Balochistan, KP, Karachi

☆ Costs, Crackdown Put a Damper on Pakistan's Election Campaigns
▼ + stars: | 2024-01-31 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +3 min

By Ariba ShahidKARACHI (Reuters) - Higher living costs and political uncertainty have muted Pakistan's once boisterous election campaigns, with both candidates and those who supply them with materials bemoaning the need to do more with much less. Syed Arsalan Haider, a Karachi printer, said the cost of a square foot of banner was up by 130% since the last election. Khan, whose party won the last election, says the military wants to keep him from power, which the military denies. Meherbano Qureshi, a PTI candidate and daughter of the party's jailed vice chairman Shah Mehmood Qureshi, said people were scared to show their support and hang campaign material. (Reporting by Ariba Shahid in Karachi and Mubasher Bukhari in Lahore; Editing by YP Rajesh and Miral Fahmy)

Persons: Shahid, Imran Khan, Jawad Jiwani, Syed Arsalan Haider, Abdul Aziz, Taj Haider, Bilawal Bhutto Zardari, Faisal Subzwari, Khan, Meherbano Qureshi, Shah Mehmood Qureshi, Khurram Sher Zaman, They're, Ariba Shahid, Mubasher Bukhari, YP Rajesh, Miral Organizations: Monetary Fund, Pakistan People's Party, PTI, Mubasher, YP Locations: Shahid KARACHI, Pakistan, Karachi, festooned, Lahore

☆ Tensions With Iran Add to Pakistan's Economic Challenges
▼ + stars: | 2024-01-18 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +3 min

Pakistan conducted strikes inside Iran, targeting separatist Baloch militants two days after Tehran said it had attacked the bases of another group within Pakistani territory. It is undergoing a tough $3 billion International Monetary Fund (IMF) bailout programme that pulled it from the brink of default last summer. Pakistan's international bonds fell after its foreign ministry said it conducted strikes inside Iran on Thursday, two days after Tehran attacked the bases of another group within Pakistani territory. Earlier in the day, Pakistan's benchmark share index fell 1.6% after Pakistan said it conducted strikes inside Iran, before recovering some ground. Pakistan's economic ties with Iran, while not huge, are important for Islamabad as it struggles to supply its western- most regions in Balochistan with critical commodities, including fuel and electricity.

Persons: Aneel Salman, Salman, Pakistan's, Hasnain Malik, Ariba Shahid, Karin Strohecker, Amanda Cooper, Bernadette Baum Organizations: Baloch, Monetary Fund, Liquified Petroleum Gas, Islamabad Policy Research Institute, Pipeline Locations: KARACHI, LONDON, Pakistan, Iran, Tehran, Tradeweb, Islamabad, Balochistan, Afghanistan, Russia, India, Karachi, London

☆ Tech Investor Wants $150 Million for California ‘Beach Bungalow’
▼ + stars: | 2023-11-22 | by ( E.B. Solomont | ) www.wsj.com time to read: 1 min

A California mansion that spurred neighborhood turmoil when it was built is going on the market for $150 million. The seller of the roughly 12,640-square-foot beachfront home in Manhattan Beach is tech investor Rob DeSantis, who co-founded software company Ariba and was an early investor in LinkedIn. He purchased three adjacent lots in Manhattan Beach, a coastal city about 20 miles from Los Angeles, for approximately $13 million around 2000, he said, and then spent several years designing a seven-bedroom home and pool.

Persons: Rob DeSantis Organizations: LinkedIn Locations: California, Manhattan Beach, Los Angeles

☆ Keeping Lights Off: Undocumented Afghans Go Underground in Pakistan
▼ + stars: | 2023-11-09 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +5 min

She is one of thousands believed by rights activists to be in hiding in Pakistan to avoid deportation under a government push for undocumented migrants to leave the country. That includes over one million Afghans, many of whom the Pakistan government says have been involved in militant attacks and crime. 'WORSE THAN PRISON'Reuters spoke to a dozen undocumented migrants trying to stay under the radar of the nationwide sweep. "This is worse than prison," said a 22-year-old Afghan man who said he ensured the lights remained off at night. Some locals who are helping the Afghans arrange for food and water to be secretly smuggled into the shelter under the cover of night.

Persons: Ariba Shahid, Mohammad Yunus Yawar, Sijal Shafiq, Shafiq, Wafa, I'm, Saleh Zada, Gibran Peshimam, Raju Gopalakrishnan Organizations: Reuters, Authorities, United Nations Locations: Mohammad Yunus Yawar KARACHI, Pakistan, Kabul, Afghanistan, Karachi, United States, Hazara, Islamabad, France, Canada

Persons: Saleh Zada, Akhtar Soomro, Sijal Shafiq, Shafiq, Wafa, I'm, Gibran Peshimam, Raju Gopalakrishnan Organizations: Reuters, REUTERS, Rights, Authorities, United Nations, Thomson Locations: Badakhshan province, Kabul, Karachi, Pakistan, Rights KARACHI, Afghanistan, United States, Hazara, Islamabad, France, Canada

☆ Pakistan speeds up Afghans' repatriation after deadline expires
▼ + stars: | 2023-11-03 | by ( Mushtaq Ali | ) www.reuters.com time to read: +4 min

Those arriving in Afghanistan complained of hardships they had to face to move out of Pakistan and uncertainty over their future. We had very bad situation," said Mohammad Ismael Rafi, 55, who said he lived for 22 years in the southwestern Pakistani border town of Chaman where he had a retail business. Pakistani authorities started rounding up foreigners, most of them Afghans, hours before the deadline. Khan, the official, said 19,744 Afghans had crossed the Torkham border on Thursday, 147,949 in total since the government announced the deadline. More than 35,000 undocumented Afghans have left through another southwestern Pakistani border crossing at Chaman.

Persons: Abdul Nasir Khan, Mohammad Ismael Rafi, Rafi, Sarfraz, Khan, Asif Shahzad, Ariba Shahid, Mohammad Yunus Yawar, Kim Coghill, Nick Macfie Organizations: United Nations, Refugees, Kabul, Reuters, Authorities, Norwegian Refugee Council, Danish Refugee Council, International, Thomson Locations: burqa, Pakistan, UNHCR, Azakhel, Nowshera, PESHAWAR, Afghanistan, Torkham, Khyber, Pakistani, Chaman, Kandahar, Helmand province, Peshawar, U.S, Karachi, Kabul

Pakistan is home to over 4 million Afghan migrants and refugees, about 1.7 million of whom are undocumented, according to Islamabad. Cash-strapped Pakistan, navigating record inflation and a tough International Monetary Fund bailout program, also said undocumented migrants have drained its resources for decades. The information minister for Balochistan province, which borders Afghanistan, told Reuters it is opening three more border crossings. Pakistani citizens who help undocumented migrants obtain false identities or employment will face legal action, Bugti warned. There are more than 2.2 million Afghan migrants in Pakistan with some form of documentation recognized by the government that conveys temporary residence rights.

Persons: Akhtar Soomro, Muhammad Rahim, Abdul Mutaleb Haqqani, Azizullah, Sohrab Goth, Mumtaz Zahra Baloch, Cash, Samar Abbas, Sarfaraz Bugti, Bugti, Abbas, Uzair Ahmed, Majida, we've, Muhammad, Ariba Shahid, Charlotte, Mohammad Yunus Yawar, Saleem Shahid, Katerina Ang Organizations: REUTERS, Rights, Reuters, Pakistani Interior Ministry, Foreign, Monetary Fund, Sindh Human Rights Defenders Network, Islamabad, Federal, UNHCR, International Organization for Migration, Karachi East Police, Afghan Ministry, Refugees, World Bank, U.N, Thomson Locations: Pakistan, Karachi, Rights KARACHI, Pakistani, Afghanistan, Islamabad, Sindh, Balochistan, AFGHANISTAN, Charlotte Greenfield, Kabul, Quetta

☆ Afghans Return to Taliban Rule as Pakistan Moves to Expel 1.7 Million
▼ + stars: | 2023-10-31 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +9 min

Persons: Shahid, Muhammad Rahim, Abdul Mutaleb Haqqani, Azizullah, Sohrab Goth, Mumtaz Zahra Baloch, Cash, Samar Abbas, Sarfaraz Bugti, Bugti, Abbas, Uzair Ahmed, Majida, we've, Muhammad, Ariba Shahid, Charlotte, Mohammad Yunus Yawar, Saleem Shahid, Katerina Ang Organizations: Reuters, Pakistani Interior Ministry, Foreign, Monetary Fund, Sindh Human Rights Defenders Network, Islamabad, Federal, UNHCR, International Organization for Migration, Karachi East Police, Afghan Ministry, Refugees, World Bank, U.N Locations: Shahid KARACHI, Pakistan, Karachi, Pakistani, Afghanistan, Islamabad, Sindh, Balochistan, AFGHANISTAN, Charlotte Greenfield, Kabul, Quetta

☆ Afghanistan earthquakes a 'disaster on top of a disaster', World Food Programme says
▼ + stars: | 2023-10-11 | by ( Gibran Naiyyar Peshimam | ) www.reuters.com time to read: +3 min

KARACHI, Pakistan, Oct 11 (Reuters) - The World Food Programme on Wednesday called the recent Afghanistan earthquakes a 'disaster on top of a disaster,' urging the international community to provide humanitarian aid to the war-torn nation. Limited aid makes relief work difficult after earthquakes and aftershocks since Saturday rattled the religiously conservative nation. "In Afghanistan, this is a disaster on top of a disaster, on top of a disaster, on top of a disaster," said Philippe Kropf, head of communications at the World Food Programme (WFP) Afghanistan, in an interview. "If we can help them prevent malnutrition, that's how we do it, because preventing malnutrition is much cheaper than treating malnutrition." Women and children make up two-thirds of the injured in Afghanistan, said Dr. Alaa AbouZeid, head of the World Health Organization's emergency response in the country, on Monday.

Persons: Philippe Kropf, Kropf, Zinda Jan, Ali Khara, Alaa AbouZeid, Gibran Naiyyar Peshimam, Ariba Shahid, Richard Chang Organizations: tremblors, Food Programme, REUTERS, Health, Soviet Union, United Nations, WFP, Thomson Locations: KARACHI, Pakistan, Afghanistan, Turkey, Syria, Herat, Afghan, Zinda, Karachi

☆ Afghan earthquakes kill 2,053, Taliban say, as death toll spikes
▼ + stars: | 2023-10-08 | by ( Mohammad Yunus Yawar | ) www.reuters.com time to read: +4 min

Janan Sayeeq, spokesman for the Ministry of Disasters, said 2,053 people were killed, 9,240 injured and 1,320 houses damaged or destroyed. More than 200 dead had been brought to various hospitals, said a Herat health department official who identified himself as Dr Danish, adding most of them were women and children. Beds were set up outside the main hospital in Herat to receive a flood of victims, photos on social media showed. It was not immediately clear if the Herat hospital was on that list. "While search and rescue operations remain ongoing, casualties in these areas have not yet been fully identified," it said.

Persons: Janan Sayeeq, Sayeeq, Danish, Suhail Shaheen, Naseema, Mohammad Yunus Yawar, Ariba Shahid, Gibran Peshimam, William Mallard, Sanjeev Miglani Organizations: U.S . Geological Survey, Ministry, Diplomats, International Committee, Reuters, World Health Organization, WHO, Thomson Locations: KABUL, Afghanistan, Herat, U.S, Turkey, Syria, Iran, Qatar, Pakistan, Herat province, Kabul, Karachi

KARACHI, Pakistan, Oct 5 (Reuters) - Pakistani ecommerce logistics startup Rider, backed by YCombinator, is looking into acquiring BlueEx (UNIV.PSX) the only listed Express Courier Logistics Company in Pakistan, it told Reuters on Thursday. "We are carving out and acquiring the e-commerce logistics business which currently operates under the brand name BlueEx. This is not an acquisition of Universal Network System Limited as a whole," said Salman Allana, founder and CEO of Rider. If the transaction goes through, this will be the first acquisition of a listed company by a startup, and the first major acquisition of a company listed on Pakistan's Growth Enterprise Market (GEM) board at the Pakistan Stock Exchange (PAKS.PSX). While Rider has not disclosed the transaction value, it claims the acquisition will make Rider the third largest player in the ecommerce logistics space.

Persons: Salman Allana, Rider, Allana, Ariba Shahid, Michael Perry Organizations: Express Courier Logistics Company, Reuters, Venture, Universal Network System, Pakistan Stock Exchange, GEM, YCombinator, Global Founders Capital, Flexport, i2i Ventures, Fatima, Ventures, Soma, Rebel Fund, Thomson Locations: KARACHI, Pakistan, Karachi

"It demonstrates the company's capabilities and readiness to refine different types and complexities of crude oil." Cnergyico conducted due diligence and consulted with external sanctions counsel to ensure the import of Russian oil did not violate sanctions, he said. Last year, Pakistan's total crude imports registered at 154,000 bpd. The government paid in Chinese yuan for its first import of discounted Russian crude, which went to state-owned Pakistan Refinery Ltd (PKRF.PSX). Cnergyico said it expects to make the Russian imports viable through the export of furnace oil to generate foreign exchange.

Persons: Alexander Manzyuk, Cnergyico, Ariba Shahid, William Mallard, Tom Hogue Organizations: REUTERS, Rights, Reuters, Pakistan Refinery Ltd, Bank, United Arab, Thomson Locations: Republic of Tatarstan, Russia, Rights KARACHI, Pakistan, Ukraine, Saudi Arabia, United Arab Emirates, Karachi

No group has claimed responsibility for the blasts, one of which trapped dozens of people under rubble, media said. [1/4]People gather outside the Mastung hospital, following a deadly suicide attack on a religious gathering in Balochistan province, Pakistan, September 29, 2023 in this handout image. The TTP, responsible for some of the bloodiest attacks in Pakistan since its formation in 2007, denied responsibility for Friday's blasts. In July, more than 40 people were killed in a suicide bombing in Khyber Pakhtunkhwa at a religious political party's gathering. The Islamic State militant group claimed responsibility for that attack.

Persons: Prophet Mohammed, Abdul Rasheed, Munir Ahmed, Shaheed Nawab Ghous Bakhsh, Fazal Akbar, Pakistan's, Saleem Ahmed, Mushtaq Ali, Shivam Patel, Gibran Peshimam, Miral Fahmy, Clarence Fernandez, Philippa Fletcher Organizations: Reuters, Geo News, REUTERS Acquire, Militant, Islamic State, Thomson Locations: Afghan, QUETTA, PESHAWAR, Pakistan, Balochistan, Madina Mosque, Khyber Pakhtunkhwa, Balochistan province, Handout, Hangu, Afghanistan, Taliban Pakistan, Peshawar, Quetta, Shahid, Karachi

KARACHI, Pakistan, Sept 28 (Reuters) - Pakistan's rupee has gained 6.1% against the dollar so far in September, following an official clampdown on illegal foreign exchange trade in grey and black markets by security agencies. September's gains have almost made up for all of the rupee's losses in August and technically make it the best-perfoming currency in the world this month. The Pakistani rupee closed 0.3% up in the interbank market at 287.8 per dollar on Thursday. The crackdown on black market operators against the informal market resulted in tens of millions of dollars pouring back into Pakistan's interbank and open markets, dealers said. "The rupee has indeed performed well but this data does not reflect the sharp depreciation preceding this performance.

Persons: Fahad Rauf, Ismail Iqbal, Rauf, Ariba Shahid, Jane Merriman, Sharon Singleton, Hugh Lawson Organizations: Finance Ministry, Research, Ismail, Ismail Iqbal Securities, International Monetary Fund, Thomson Locations: KARACHI, Pakistan, Karachi

☆ Pakistan probes distributors of Roche cancer drug after patients go blind
▼ + stars: | 2023-09-25 | by ( Mubasher Bukhari | ) www.reuters.com time to read: +3 min

REUTERS/Arnd Wiegmann/File Photo Acquire Licensing RightsLAHORE, Pakistan, Sept 25 (Reuters) - Pakistan said on Monday it was investigating two local distributors of Swiss pharmaceutical company Roche's (ROG.S) Avastin cancer drug after 12 diabetic patients injected with the drug went blind. The Drug Regulatory Authority of Pakistan (DRAP) said the health authorities in Punjab, the most populous province, had launched the investigation into local use of the drug Avastin, which is licensed for use in Pakistan. On its website, Roche said Avastin was approved in more than 130 countries, including the United States, to treat several types of cancer. Cancer drug Avastin, when used at much lower doses, is similar to eye drug Lucentis and is used in many countries as a low-cost option to treat certain blindness-causing conditions. In its statement, Roche said: "Avastin is not approved for any use in the eye.

Persons: drugmaker Roche, Arnd, Javed Akram, Akram, Roche, Avastin, Alam, Mubasher Bukhari, Ariba Shahid, Ludwig Burger, Miral Fahmy, Alex Richardson Organizations: REUTERS, Rights, Drug Regulatory Authority of Pakistan, Reuters, U.S ., Thomson Locations: Basel, Switzerland, Rights LAHORE, Pakistan, Swiss, Punjab, United States, counterfeits, Avastin, Lahore, Karachi, Frankfurt

Tens of millions of dollars have poured back into Pakistan's interbank and openmarkets, dealers say, since raids on black market operators began on Sept. 6. Ninety percent were going to black market dealers, cutting our supply of foreign exchange," Bostan explained. While a crackdown on the black market was needed to stabilise the rupee, it "is a temporary fix," said Fahad Rauf, Head of Research at Ismail Iqbal Securities. High inflation and chronic external deficits lie at the heart of the currency's problem, and closing off people's access to black market dollars risks storing up pent-up demand. "There is an unprecedented demand for the dollar," Hanifullah Mohmand, a trader in the Peshawar market, said.

Persons: Akhtar Soomro, Asim Munir, Malik Bostan, Bostan, General Munir, Haji Luqman Khan, Sheikh Allauddin, ECAP, Fahad Rauf, Ismail Iqbal, Ariba Shahid, Mushtaq Ali, Gibran Peshimam, Simon Cameron, Moore Organizations: REUTERS, Pakistan, Exchange Companies Association of Pakistan, Reuters, Federal Investigation Agency, FIA, Inter, Services Intelligence, ISI, Locals, International Monetary Fund, IMF, Research, Ismail, Ismail Iqbal Securities, Thomson Locations: Karachi, Pakistan, KARACHI, PESHAWAR, Peshawar, Islamabad, Lahore, Quetta, Afghanistan

A Reuters poll of 17 analysts show that 15 are forecasting a rate hike. An easing of import restrictions and the removal of subsidies - both conditions of the bailout - have fueled spikes in energy prices. Although overall inflation fell slightly to 27.4% in August, food inflation remain elevated at 38.5%. Pakistan's central bank said in July that it expects inflation to be on a downward path over the next 12 months. Analysts also noted that rises in cut-off yields in treasury bill auctions - the highest yield at which a bid is accepted - indicate that market participants expect a rate hike.

Persons: Shivaan Tandon, Ariba Shahid, Swati Bhat, Edwina Gibbs Organizations: State Bank of Pakistan, Capital Economics, Thomson Locations: KARACHI, Karachi

"We feel that the applicant is entitled to the suspension of sentence and be released on bail," it said. Khan's lawyer Naeem Panjutha also announced the suspension on social media, saying "God be praised." Nor will the suspension of the corruption sentence undo the ban on Khan's contesting elections as long as the conviction remains. STATE SECRETSPakistan's former Prime Minister Imran Khan, gestures as he speaks to the members of the media at his residence in Lahore, Pakistan May 18, 2023. The possible overturning of Khan's graft conviction is pending a detailed hearing in the court, according to a lawyer Abdul Moiz Jaferii.

Persons: Khan, Imran, Khan's, Naeem Panjutha, Imran Khan, Mohsin Raza, Shah Mahmood Qureshi, Abdul Moiz Jaferii, Jaferii, abetment, Zulfikar Bukhari, Asif Shahzad, Gibran Peshimam, Ariba Shahid, Simon Cameron, Moore, Alex Richardson, Angus MacSwan Organizations: ISLAMABAD, Reuters, REUTERS, Federal Investigation Agency, FIA, Thomson Locations: Pakistan, Lahore, United States, Russia, Ukraine, Washington, Islamabad, Karachi

☆ Pakistan rupee hits record low against US dollar - Central Bank
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: 1 min

An employee counts Pakistani rupee notes at a bank in Peshawar, Pakistan August 22, 2023. REUTERS/Fayaz Aziz Acquire Licensing RightsKARACHI, Pakistan, Aug 23 (Reuters) - Pakistan's rupee closed at 299.6 against the U.S. dollar on Wednesday in the interbank market, touching a record low for the second day in a row, central bank data showed. On Tuesday, the rupee weakened to 299 against the dollar. On Wednesday, it extended losses and depreciated 0.2% against the dollar. Reporting by Ariba Shahid in Karachi; Editing by Sharon Singleton and Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.

Persons: Fayaz Aziz, Ariba Shahid, Sharon Singleton, Andrew Heavens Organizations: REUTERS, Rights, U.S, Thomson Locations: Peshawar, Pakistan, Rights KARACHI, Karachi

A currency trader counts Pakistani Rupee notes as he prepares an exchange of U.S dollars in Islamabad, Pakistan December 11, 2017. REUTERS/Caren Firouz/File Photo Acquire Licensing RightsKARACHI, Pakistan, Aug 22 (Reuters) - Pakistan's rupee closed at a record low of 299 rupees against the dollar in the interbank market on Tuesday following an easing in import restrictions that has lifted demand for the dollar, central bank data showed. Pakistan imposed import restrictions from 2022 to stem outflows from its shrinking foreign reserves. Traders said the rupee fell 0.6% to an intraday low of 299 against the dollar. "The declining trend is mainly attributable to the ease off in the import restrictions coupled with clearance of backlog for goods and services," he said.

Persons: Caren, Imran Khan, Tahir Abbas, Arif Habib, Ariba Shahid, Edwina Gibbs, Conor Humphries Organizations: REUTERS, Rights, Monetary Fund, Traders, Thomson Locations: Islamabad, Pakistan, Rights KARACHI, Karachi

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