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Pakistan Times Today

Results for “Dollar” (138)

Alina Hashmi Posted in World

Democrats challenge Trump’s request for billions more for Iran war

Democrats came out strongly against the Trump administration’s request for billions of dollars in additional funding for the war in Iran, arguing that this is a war of choice rather than one of necessity. They also challenged Defense Secretary Pete Hegseth over what they described as imprecise and inconsistent language about the military campaign. Senator Jon Ossoff questioned why the administration was requesting more money after previously suggesting that its adversary had been rendered combat ineffective. Read More…

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Alina Hashmi Posted in World

‘Major steps forward’ in US release of Iran’s seized assets

Muhammad Ali Shabani, a Middle East scholar says the US agreeing to allow Iran to receive oil sales in US dollars is a “huge” win for Tehran. “I think there’s definitely scope for optimism and I would look chiefly in the way this kind of dialogue is being institutionalized. As we’re seeing it unfold, we have multiple working groups, we have experts continuing talks in Switzerland right now, and with reference to the frozen funds, I think they made major steps forward,” Shabani said. The “bigger picture” is the United… Read More…

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Hafsa Mustafa Posted in World

Iran's currency drops to record low level of 1.8 million rials to the dollar, ISNA Reports 

Iran's currency dropped to a record low of 1,810,000 rials to the US dollar on Wednesday, the Iranian Student News Agency said, marking a fall of about 15% over the past two days. The drop follows weeks of calm in Iran's free currency market and appears to have been driven by increased demand for foreign currencies, including the euro and the Emirati dirham. Iranian currency tracking websites showed varying rates of between 1,760,000 and 1,810,000 rials to the US dollar. Read More…

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Hafsa Mustafa Posted in World

US approves multibillion-dollar arms deals to Saudi Arabia, Israel

The United States on Friday approved multibillion-dollar weapons sales to both Saudi Arabia and Israel, at a point of high tensions with Iran. The State Department said it green-lighted a $3.8-billion sale of 30 Apache attack helicopters to Israel, which has agreed to a fragile ceasefire in Gaza. "The United States is committed to the security of Israel, and it is vital to US national interests to assist Israel to develop and maintain a strong and ready self-defence capability," the State Department said in a statement. "This proposed sale is… Read More…

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Hafsa Mustafa Posted in World

'Dollar, oil, and Israel' — US Republican lawmakers slam Trump's threat to Iran

Two US Republican lawmakers have criticised President Donald Trump’s reported threats of military intervention against Iran, arguing that such moves would undermine constitutional limits. "We have problems at home," says Representative Thomas Massie, and Representative Marjorie Taylor Greene frames the Trump's policy as betrayal of 2024 voter mandate. Massie said that proposed strikes were not about defending freedom of speech in Iran. Instead, he characterised the dispute as being driven by economic and geopolitical interests, citing "the dollar, oil, and Israel." Read More…

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Alina Hashmi Posted in World

Donations for wounded ‘hero’ al-Ahmed go past $744,000

Donations for a Sydney man who wrestled a gun from one of the attackers during a mass shooting at Bondi Beach have surged past 1.1 million Australian dollars ($744,000), as he recovers in hospital after surgery for bullet wounds. A GoFundMe campaign set up for al-Ahmed raised the amount within a day. Billionaire hedge fund manager Bill Ackman was the largest donor, contributing 99,999 Australian dollars and sharing the fundraiser on his X account. Outside St George Hospital, strangers showed their support. Read More…

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Hafsa Mustafa Posted in World

Trump administration freezes New York funding, cuts energy projects

The Trump administration has announced plans to terminate dozens of clean energy projects and freeze billions of dollars for major projects in New York, intensifying a stand-off with Democrats over a US government shutdown. US media outlets described the moves announced by the energy and transportation departments as part of the administration's efforts to pressure Democrats in Congress to agree on a deal to end the shutdown. Read More…

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Hafsa Mustafa Posted in World

India's economic woes worsen as US tariff hike bites

The Indian rupee tumbled to a historic low on Friday, falling past the 88-per-dollar mark for the first time, as investors cited concerns over the impact of punitive US tariffs on Indian goods. Washington this week imposed an additional 25 percent tariff on Indian exports, doubling the total duties faced by India to 50 percent. The rupee slid to 88.29 against the US dollar, surpassing its previous all-time low of 87.95 hit in February. Following the Reserve Bank of India (RBI) intervention in the currency market, the rupee partially rebounded… Read More…

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Hafsa Mustafa Posted in World

Ethiopia’s mega dam on the Nile ‘now complete’: PM

Ethiopia’s Prime Minister Abiy Ahmed on Thursday said a multi-billion-dollar mega-dam on the Blue Nile that has long worried neighbouring countries is complete and will be officially inaugurated in September. The Grand Ethiopian Renaissance Dam (GERD), launched in 2011 with a $4-billion budget, is considered Africa’s largest hydroelectric project stretching 1.8 kilometres (just over one mile) wide and 145 metres (475 feet) high. Addis Ababa says it is vital for its electrification programme but it has been a source of tensions with downstream nations Egypt and Sudan who worry it… Read More…

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