Canadian dollar drops to lowest level since 2004

‘The downside could be enormous from here. There is no reason why it can’t fall much farther’

By Pete Evans

The Canadian dollar dropped to levels not seen since 2004 on Wednesday.

The loonie closed at 76.70 cents against the U.S. dollar, according to the Bank of Canada, down 0.53 cents. That’s lower than the 76.85 cents the loonie closed at on March 9, 2009, more than six years ago. The loonie hasn’t been this low since September 2004, almost 11 years ago, when it touched the 75 cent level.

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Post-Eid bonus: Karachi stocks cross all-time record high 36,000 points

BY REUTERS

KARACHI: The Karachi Stock Exchange on Wednesday closed at an all-time high with its 100 index closing above 36,000 points for the first time as the market reopened after the long festival weekend of Eidul Fitr and investors took fresh positions in chemical stocks in anticipation of better earnings.

The benchmark 100-share index of the KSE ended up 0.47 per cent, or 169.02 points, at an all-time high close of 36,056.68.

Traded volume rose 3 per cent to 621 million shares, while traded value increased by 17 per cent to 16.5 billion rupees.

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The Quest for Political Identity in Jammu Kashmir

Nayyar N Khan is a US based political analyst, peace activist and a freelance journalist. His area of expertise is International Peace and Conflict Resolution.
Nayyar N Khan is a US based political analyst, peace activist and a freelance journalist. His area of expertise is International Peace and Conflict Resolution.

By Nayyar N Khan

Prior to the emergence of modern state, during the monarchy the subjects of monarchs had little say in their relationship with the state. Over time, the concept of citizenship and identity developed, with the principle that citizens were not just residents of a given territory, but were members of a political community with a particular identification and recognition. Civil, political, and social rights became associated with citizenship, differing by country in the balance among these and in their scope.

Different simulations of the appropriate relationship between a state and its citizens are exemplified in different systems, which legitimize these models based on their preferred political ideology. All regimes have formal institutions that reflect their ideological claims. But central to these identifications, besides having differing ideologies is the element of political identification, because modern day nation states in global north have kept religion as a private and personal matter and have set forth a “political doctrine” where citizens are equal before the law without prejudice to the their spiritual beliefs. Social scientists have established several different methodologies to understand how identities are formed and why they become politically prominent. Whether identity groups are politically important, and whether people act politically based on group membership, depends on a variety of factors, such as whether a group has a pre-existing sense of itself: it must be an existing reality with both historic ties and a forward-looking agenda. It must have some felt grievance, and it seems to need political identity to be recognized as a distinct unit. When it comes to conflict in Himalayas where the State of Jammu Kashmir comprised of different regions, with inhabitants of different ethnicity languages and religions; the factor of political identity seems more prominent and dominant in the decades long strife in the region. Historically the ethnic, religious and linguistic groups living in the State of Jammu Kashmir have a shared history of living together in peace and harmony over the centuries. This “Peace and harmony” was, however, shattered by the religiously charged atmosphere of 1947, when both India and Pakistan attained their independence under the umbrella of Two Nations Theory. Although India rejected the concept of Two Nations Theory and vowed for the secular and political identification but over the years religious identity has been a dominant insignia across the Radcliffe Line.

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Databank of over 1,000 historical sites handed over to Sindh government

BY HANEEN RAFI

KARACHI: More than 1,000 historical sites in Sindh have been painstakingly documented and made part of an electronic database, which was handed over to the Sindh government at a ceremony on Tuesday.

The Heritage Foundation of Pakistan and the RWTH Aachen University of Germany have worked together for over three years to create this databank that focuses on establishing an authentic inventory of cultural sites in the province.

Detailed information of the 1,162 notified heritage sites of Sindh is part of a vast periphery of work that has been carried out in the province by local and international organisations. For architect Yasmin Lari, one of the project directors, “This database is about saving Sindh’s tangible heritage through management and safeguarding mechanisms.”

Though Sindh is one of the oldest civilisations, enjoying a legacy of Sufism and mysticism, folklore and oral histories, the cultural sites within it are in a state of neglect and are wearing out much faster than anticipated. This loss is not just of a tangible heritage, but also of an intangible one, which Ms Lari stresses should be halted.

Cultural sites in Badin, Dadu, Hyderabad, Ghotki, Jacobabad and Jamshoro are included in the databank. However, the most marked ones are the Moenjodaro and Makli sites, which are part of the United Nations Educational Scientific and Cultural Organisation’s world heritage list.

Dr Michael Jansen, the project director representing Aachen University, said: “The most important question is how to integrate the value of the jewels of Sindh into a strategic programme for further economic and social development.”

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