Pakistan News

    1 Saudi Riyal Price In Pakistan

  • Banks to remit Saudi riyal for Haj

    KARACHI: The State Bank of Pakistan (SBP) on Tuesday allowed banks to remit foreign exchange (Saudi riyal) on behalf of the Haj group organisers (HGO) having allocated quota by the Ministry of Religious Affairs and Interfaith Harmony (MORA) for this year...

    The banks, on being approached, will open a new rupee account in the name of enlisted HGO specifically for the purpose of Haj related remittances to Saudi Arabia...

  • Saudi riyal forwards crash through key 1,000 level to hit record low

    DUBAI: The Saudi Arabian riyal hit a record low in the forwards market on Tuesday, breaching the key 1000-point mark as a fresh slip in oil prices raised fears that the kingdom will eventually scrap or loosen its currency peg to the US dollar...

    One-year dollar/riyal forwards — contracts used by counterparties to lock in a future exchange rate — climbed as high as 1020 points in very volatile trade...

  • New Saudi minister is believer in reform and low oil price

    Saudi Arabia's health minister, Khalid al-Falih, a favourite to take over the oil ministry from his mentor Ali al-Naimi, was not panicking...

    It could help to speed up reform and restructure the economy, and move Saudi Arabia to a smaller and more effective government and unleash its private sector, he said...

  • Low oil price threatens future supply crisis: Saudi Arabia

    DOHA: Long-term oil market fundamentals remain robust but prolonged low prices could threaten security of supply and pave the way for a price spike, Saudi Arabia’s vice oil minister said on Monday...

    The comments suggest Opec heavyweight Saudi Arabia is satisfied with its strategy of not cutting production and allowing low prices to reduce supplies, without losing market share to competitors...

  • Saudi finance minister says no income taxes for Saudi citizens

    Saudi Arabia's finance minister said on Sunday that citizens would not pay taxes on income and Saudi companies would not see their profits taxed under sweeping economic reforms being introduced in the oil-rich kingdom...

    The collapse in oil prices after mid-2014 has pushed Saudi Arabia to contemplate a radical overhaul of all parts of its economy, including new taxes, privatisations, a changed investment strategy and sharp cuts in...

  • Saudi deputy crown prince, Trump meeting a 'turning point' in ties: Saudi adviser

    Saudi Arabia hailed a “historical turning point” in US-Saudi relations after a meeting between US President Donald Trump and Deputy Crown Prince Mohammed bin Salman highlighted the two leaders' shared view that Iran posed a regional security threat...

    Saudi Arabia had viewed with unease the administration of US President Barack Obama, whom they felt considered Riyadh's alliance with Washington less important than negotiating the Iran...

  • Saudi embassy confirms UK attacker had been in Saudi Arabia

    The Royal Embassy of Saudi Arabia in London says that the Westminster attacker was in the country three times and taught English there...

    A statement released late Friday says Khalid Masood taught English in Saudi Arabia from November 2005 to November 2006 and again from April 2008 to April 2009...

  • Pakistan fails to capitalise on oil price dip: ADB

    ISLAMABAD: The Asian Development Bank says that Pakistan’s economy has failed to achieve its growth potential in spite of benefiting from lower prices of oil which accounts for almost a third of its imports...

    The ADB approved $1 billion for projects in Pakistan to improve transport and trade...

  • Fixing Pakistan's water woes beyond regulating the price of bottled water

    But even if Diamer-Bhasha reaches its funding goal, then what?The court summoned yesterday the CEOs of all bottled water companies to present data on the price of extracted water and the revenue they have made selling it...

    We can question whether major bottlers are cartelised, and whether quality audits are functioning well, but let’s think here instead about what the price of water should be...

  • Pakistan paid the price for waking up too late

    LONDON: Every World Cup failure for Pakistan sparks a wave of reviews and sackings and the promise of a fresh approach — until the team wins again and all is forgotten...

    Pakistan won four straight matches to finish level on 11 points with New Zealand, but they bowed out of the tournament due to an inferior net run-rate...

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