Saudi envoy launches KSRelief Ramadan Iftar meals program in Islamabad

Ambassador Nawaf Saeed Al-Malki hosted an Iftar dinner to launch annual Ramadan meals program at Faisal Mosque in the Pakistani capital on Friday. (Saudi Embassy/Twitter)
Updated 18 May 2019
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Saudi envoy launches KSRelief Ramadan Iftar meals program in Islamabad

  • Project kicked off with Iftar dinner at Faisal Mosque
  • ‘Such gatherings provide opportunities for cultural exchanges,’ says Saudi Ambassador

ISLAMABAD: Saudi Ambassador to Pakistan, Nawaf Saeed Al-Malki launched the Pakistan leg of King Salman Humanitarian Aid And Relief Centre’s (KSRelief) annual Ramadan Iftar program in Islamabad on Friday, which aims to distribute Iftar meals during the month of Ramadan. 

The project kicked-off at an Iftar dinner hosted by Ambassador Al-Malki which was attended by Saudi diplomats, President of the Islamic International University (IIU) as well as residents from the twin cities of Islamabad and Rawalpindi.

The meal was followed by evening prayers at the mosque, which rests at the foothills of the Margalla hills and is named for Saudi King Faisal. 

Speaking at the occasion, Ambassador Al-Malki said, “Such gatherings provide opportunities for cultural exchange,” according to a statement released by the IIU.

Last week, the Saudi envoy inaugurated the Muslim World League’s “Iftar Saem” program in Pakistan, as part of an initiative to distribute food packages to fasting Muslims during the holy month.

Under the program, 4,700 food baskets will be distributed in Pakistan and Pakistan-administered Kashmir.

According to the IIU statement, University President Dr. Ahmed Yousif Al-Draiweesh said this year’s Iftar meals program by the custodian of the two Holy Mosques was a sign of his immense love for the Muslim world.


Pakistan stocks rebound on easing regional tensions, gain over 1,500 points

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Pakistan stocks rebound on easing regional tensions, gain over 1,500 points

  • The development came after Iran said it was keeping communication channels with Washington open amid cost-of-living protests
  • It followed a threat by President Donald Trump last week to intervene militarily if Tehran continued cracking down on protesters

ISLAMABAD/KARACHI: The Pakistan Stock Exchange (PSX) edged higher on Tuesday as the benchmark index gained more than 1,500 points, with analysts citing easing regional tensions following signals of potential talks between Iran and the United States (US).

The benchmark KSE-100 index gained 1,567.36 points, or 0.86 percent, to close at 183,951.50 points, compared to the previous close of 182,384.14 points when the market had shed more than 2,000 points, according to PSX data.

Iran has been witnessing public unrest over worsening economic conditions. Around 2,000 people, including security personnel, have been killed in violent protests, Reuters reported, citing an Iranian official.

Tehran said on Monday that it was keeping communication channels with Washington open as US President Donald Trump imposed 25 percent tariffs on countries trading with the Islamic republic.

“Stocks showed sharp recovery at PSX after Iran and US signal talks over unrest in Iran,” Ahsan Mehanti, chief executive officer at Arif Habib Commodities, told Arab News.

“Surging global crude oil prices and speculations ahead of corporate results in the earnings season played a catalyst role in bullish close.”

Najeeb Ahmed Khan Warsi, digital and retail business officer at Al-Habib Capital Market, said the index had seen a three-day bearish streak.

“Geopolitics and global volatility driving downturn, profit-taking and economic concerns weigh in,” he added.

Meanwhile, Pakistani market research firm Topline Securities said the benchmark index ended the session on a “positive note” on Tuesday.

“Trading interest remained subdued, as total market volumes reached 1,033 million shares, while the value of shares traded stood at Rs62.9 billion,” it said in a daily market review on X.

United Bank Limited (UBL), National Bank of Pakistan (NBP), Muslim Commercial Bank Limited (MCB), Lucky Cement Limited (LUCK) and Meezan Bank Limited (MEBL) jointly contributed 936 points to the index, according to the research firm.

Fauji Fertilizer Company Limited (FFC), Sazgar Engineering Works Limited (SAZEW) and Haleon Pakistan Limited (HALEON) collectively shaved 158 points off the index.

“Bank of Punjab (BOP) led the volume rankings, emerging as the most actively traded stock with 73 million shares,” Topline Securities added.