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Dollar waits on CPI, yuan bounces back from policy knock

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 The dollar was largely unchanged in early European trade Friday ahead of the release of key U.S. inflation data, which could influence Federal Reserve monetary policy thinking into the new year. The euro , seen as vulnerable to a Federal Reserve hike especially if European rate rises lag, dropped 0.4% on Thursday and was steady in Asia at $1.1297. The dollar index , at 96.197, was drifting toward its seventh consecutive weekly rise ahead of the data, which is due at 1330 GMT. Annual price gains of 6.8% are expected and any upside surprise will likely be interpreted as a case for a faster Federal Reserve taper and sooner interest rate rises. Consumer confidence data is also due on Friday and if it holds up could portend even more price pressures ahead. Tom Porcelli said,"Inflation is going to accelerate." RBC Capital Markets' chief U.S. economist, who thinks the annual pace is going to pick up and keep rising to push near 7% early in the new year. He said, "As ...
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President Ashraf Ghani launches Afghanistan's coronavirus vaccine campaign

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Amid ongoing attacks by militants, Afghanistan on Tuesday launched its coronavirus vaccination drive with the hopes of inoculating thousands of Afghans against the disease that has wrecked havoc in the world. Doctors, security personnel, and journalists were among the first volunteers to receive doses of AstraZeneca's COVID-19 vaccine, donated earlier this month by India. "Today, I congratulate the people of Afghanistan for the launch of the first stage of COVID-19 vaccine [drive] with 500,000 doses of vaccines. This is a big opportunity for the people of Afghanistan," said Afghan President Ashraf Ghani as the first jabs were administered. "We don't expect any miracles, but let's help this campaign to be implemented justly," the country's acting health minister Waheed Majroh added. Afghanistan is believed to have been hit hard by the COVID-19 pandemic in the last year, but limited testing and a ramshackle healthcare sector have hampered its abi...
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Biden urges calm in first call with Palestinian President Mahmoud Abbas

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Sindh Chief Minister Syed Murad Ali Shah and PPP Chairman Bilawal Bhutto Zardari had a meeting on Monday at the Bilawal House in Karachi. According to the Bilawal House spokesperson, the chief minister informed Bilawal Bhutto of the COVID-19 situation in the province along with measures taken by the Sindh Health Department to contain the virus. Speaking about the pace of development in the province, CM Murad Ali Shah told Bilawal Bhutto that progress has been largely hampered because of low payments made by the Federal government against Sindh's rightful share. Shedding light on areas where improvements were witnessed, the CM said that the Sindh government has surpassed its own tax collection targets this time. During the meeting, PPP Chairman said that he had instructed the Sindh government to start a recruitment drive for filling vacant positions, adding that all appointments must be made on the basis of merit so that the unemployed youth can benefit from the move. He also...
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The Election Commission of Pakistan (ECP) on Tuesday has conducted hearing on a case pertaining to illegal funding of ruling Pakistan Tehreek-e-Insaf (PTI). During the hearing, the commission has ordered to provide report of scrutiny committee to both the parties over which, the Pakistan Tehreek-e-Insaf (PTI) representative requested to keep the content secrete till the submission of all the replies. The chief election commissioner said that he is not in the position of stopping anyone to not make the report public. Subsequently, the hearing has been adjourned for 15 days. from latest-news - SUCH TV https://ift.tt/330WnUx
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US President Joe Biden's administration has temporarily frozen for review a massive package of F-35 jets to the United Arab Emirates and arms to Saudi Arabia, officials said on Wednesday. The nearly week-old administration has already signalled it plans to end support for the Saudi-led, UAE-backed offensive in Yemen, which is facing a humanitarian catastrophe. A State Department spokesperson said the administration is “temporarily pausing the implementation” of a number of defence sales “to allow incoming leadership an opportunity to review”. “This is a routine administrative action typical to most any transition, and demonstrates the administration's commitment to transparency and good governance,” the spokesperson said. The move is also aimed at “ensuring US arms sales meet our strategic objectives of building stronger, interoperable and more capable security partners”. The most high-profile sale is a $23 billion package of top-of-the-line F-35 jets to the UAE. Former...
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As Muslims in America prepared to hold their first fast of the holy month on Tuesday, US President Joe Biden and First Lady Jill Biden sent their greetings to those observing Ramazan in a statement that touched upon the Muslim community's contribution to the country as well difficulties faced by its members. "Jill and I send our warmest greetings and best wishes to Muslim communities in the United States and around the world. Ramadan Kareem," said the US president in a statement. "As many of our fellow Americans begin fasting tomorrow, we are reminded of how difficult this year has been. In this pandemic, friends and loved ones cannot yet gather together in celebration and congregation, and far too many families will sit down for iftar with loved ones missing. "Yet, our Muslim communities begin the month of revelation with renewed hope." Joe Biden spoke about how Muslim Americans have enriched the United States since its founding. "They are as di...
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PML-N President Shahbaz Sharif Monday raised alarm at reports that the government intends to release a mini-budget in line with the International Monetary Fund's (IMF) recommendations, saying that it would prove to be a death knell for a nation already reeling from the effects of rising inflation and unemployment. Sources said that the government intends to introduce a mini-budget in line with the demands of the International Monetary Fund (IMF). As per sources, tax exemptions on mobile phones, stationery, and packaged food items are likely to be abolished in the mini-budget, while the amendment bill would allow the government to withdraw sales tax exemptions from zero ratings in addition to exports, stated the report. In a statement, Shahbaz said that it would become impossible for the nation to live after the government introduces the mini-budget considering how petrol, gas and electricity will become even more expensive. The former Punjab chief minister said an increase in...
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