News Archives for 2024-04-15 - Business Recorder

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Archive - 2024-04-15

Business & Economy

Govt increases petrol price by Rs4.53, takes it to Rs293.94 per litre

The new prices take effect from April 16, 2024

Published 15 Apr, 2024 11:49pm

Saudi FM-led delegation arrives in Pakistan

Saudi delegation will meet with the president, prime minister, COAS, and other stakeholders

Updated 15 Apr, 2024 10:54pm

Israeli troops wounded in Lebanon in attack claimed by Hezbollah

BEIRUT: Israel's army said Monday four of its troops were wounded inside Lebanese territory after Hezbollah said it...

Published 15 Apr, 2024 10:45pm

Money & Banking

Bank Alfalah submits public intention to acquire majority stake in Samba Bank

Bank Alfalah Limited, one of Pakistan’s largest commercial banks, has submitted a public intention to acquire a...

Updated 15 Apr, 2024 10:44pm

Karachi could be hit by thunderstorm on Wednesday: PMD

Met office also warns of flash flooding in some areas of Balochistan, Gilgit-Baltistan, Kashmir and Khyber Pakhtunkhwa this week

Updated 15 Apr, 2024 10:43pm

Europe

Zelensky calls for same ‘unity’ from allies as for Israel

KYIV: Ukrainian President Volodymyr Zelensky urged allies on Monday to show the same “unity” toward Ukraine as...

Published 15 Apr, 2024 10:30pm

Lightning, downpours kill 41 people across Pakistan

LAHORE: At least 41 people have died in storm-related incidents across Pakistan since Friday, including 28 killed by...

Updated 15 Apr, 2024 09:52pm

Alcaraz hopeful but uncertain over Madrid Open recovery

BARCELONA: Carlos Alcaraz hopes to defend his Madrid Open title but the Spanish world number three said Monday he is...

Published 15 Apr, 2024 09:48pm

Multiplicity of taxes heavily burdening industrial sector

Claim by the manufacturing sector is that while their share in Gross Domestic Product (GDP) is 20 percent yet their contribution in taxes is over 60 percent

Updated 15 Apr, 2024 09:41pm

Saudi foreign minister due today

ISLAMABAD: A high-level Saudi delegation, led by Foreign Minister Faisal bin Farhan, will arrive on a two-day...

Updated 15 Apr, 2024 09:41pm

Aseefa Bhutto Zardari sworn in as MNA

Aseefa Bhutto Zardari was sworn in as a member of the National Assembly on Monday, Aaj News reported. She becomes...

Updated 15 Apr, 2024 09:40pm

USA

Trump faces criminal trial, a historic first for a former president

NEW YORK: Donald Trump became the first former U.S. president to stand criminal trial on Monday when he appeared in...

Published 15 Apr, 2024 09:20pm

Stocks

‘Leak of corporate data’: Cyber-attack hits Pak Suzuki Motor Company

Company says its data related to HR, financials port out to public IP

Updated 15 Apr, 2024 09:01pm

MENA

US doesn't want 'escalation' with Iran but will defend Israel: Blinken

WASHINGTON: The United States does not want to see any escalation in hostilities with Iran, but will continue to...

Updated 15 Apr, 2024 08:57pm

Energy

Oil sheds more than $1/barrel after Iran attack

NEW YORK: Oil prices sank by about $1 a barrel on Monday after Iran’s weekend attack on Israel proved to be less...

Updated 15 Apr, 2024 08:50pm

Stocks

US stocks bounce amid receding worries over Middle East

NEW YORK: Wall Street stocks bounced early Monday following solid US retail sales data as markets embraced hopes...

Published 15 Apr, 2024 07:53pm

Middle East

Biden to meet Iraqi PM as Middle East tensions soar

WASHINGTON: US President Joe Biden will meet Iraq’s Prime Minister Mohamed Shia al-Sudani at the White House Monday,...

Published 15 Apr, 2024 07:48pm

Forex

SBP-held foreign exchange reserves see slight decline, stand at $8.04bn

Foreign exchange reserves held by the State Bank of Pakistan (SBP) slightly decreased by $0.1 million on a weekly...

Published 15 Apr, 2024 07:44pm

Europe

Meta ‘temporarily’ closes Threads network in Turkiye

ISTANBUL: Facebook owner Meta said Monday it would “temporarily” shut down its Threads short-messaging service in...

Published 15 Apr, 2024 07:38pm

Stocks

Rupee registers marginal decline against US dollar

Currency settles at 278.12 against the greenback in inter-bank market

Updated 15 Apr, 2024 07:11pm

Middle East

EU’s Borrell says Middle East on cliff edge, urges Iran-Israel de-escalation

MADRID: The European Union’s foreign policy chief said on Monday the Middle East stood “on the edge of the cliff”...

Published 15 Apr, 2024 07:07pm

England spin great Derek Underwood dead at 78

LONDON: Derek Underwood, the most successful spin bowler in England’s Test cricket history, has died at the age of...

Published 15 Apr, 2024 07:04pm

South Asia

India’s Modi warns of ‘black money’ in political funding after old system scrapped by court

NEW DELHI: A Supreme Court decision to scrap a controversial political funding system has pushed contributions to...

Published 15 Apr, 2024 06:55pm

South Asia

India court extends detention of opposition leader Kejriwal until April 23, Live Law says

NEW DELHI: A Delhi court extended on Monday the detention of opposition leader Arvind Kejriwal in a graft case until...

Published 15 Apr, 2024 06:51pm

Energy

Oil tanker 'mafia': PM Shehbaz again pushes for renewable energy generation

Appreciates Punjab govt for taking steps to control power theft

Updated 15 Apr, 2024 06:46pm

Arts

Gaza’s historic treasures saved by ‘irony of history’

JERUSALEM: Gaza’s ancient Greek site of Anthedon has been bombed, its ‘Napoleon’s Palace’ destroyed and the only...

Updated 15 Apr, 2024 06:45pm

Movies & Music

Musician Dua Lipa revealed as the first cover star of TIME 100 2024

Singer, songwriter and author Dua Lipa has been revealed as the first of the cover stars of the 2024 TIME 100 list...

Published 15 Apr, 2024 06:27pm

Middle East

Aid to Gaza has increased dramatically, White House’s Kirby says

WASHINGTON: Humanitarian aid getting into the Gaza Strip has increased by a large amount in the last few days, White...

Published 15 Apr, 2024 06:24pm

Packed stadiums boost LaLiga to record financial results

Spain’s LaLiga posted a record total revenue of 5.69 billion euros ($6.07 billion) for the 2022-23 season as...

Published 15 Apr, 2024 06:04pm

South Asia

New US review says 2021 Kabul attack not preventable

WASHINGTON: A 2021 suicide bombing in Kabul that killed scores of people – among them 13 American troops – could not...

Published 15 Apr, 2024 05:59pm

Expect another PSG thriller: Barca coach Xavi

BARCELONA: Barcelona coach Xavi Hernandez said Monday his team’s Champions League quarter-final second leg clash...

Published 15 Apr, 2024 05:43pm

Stocks

Another record high: KSE-100 closes 230 points higher despite early selling pressure

The KSE-100 Index closed the trading session on Monday in the green as it recovered from the selling pressure...

Updated 15 Apr, 2024 05:43pm

Haller to miss Atletico clash, Sancho to return

DORTMUND: Borussia Dortmund striker Sebastien Haller will miss Tuesday’s home Champions League quarter final clash...

Published 15 Apr, 2024 05:03pm

Forex

Indian rupee ends at record closing low amid Mideast tensions, likely central bank support aids

MUMBAI: The Indian rupee fell to its weakest closing level on record on Monday as rising Middle East tensions...

Published 15 Apr, 2024 04:58pm

Commodities

Palm oil slips to over two-week low on subdued demand, weaker crude

KUALA LUMPUR: Malaysian palm oil futures fell on Monday to their lowest closing in over two weeks, weighed down by...

Published 15 Apr, 2024 04:55pm

Forex

Kenyan shilling weakens on fuel, manufacturing FX demand

NAIROBI: The Kenyan shilling weakened against the dollar on Monday, under pressure from foreign-currency demand from...

Published 15 Apr, 2024 04:51pm

Forex

Sterling rebounds from five-month low, eyes on data

LONDON: The British pound rebounded on Monday from its biggest weekly fall against the dollar since July, bouncing...

Published 15 Apr, 2024 04:48pm

Commodities

Gold price per tola increases Rs800 in Pakistan

Gold rates in Pakistan advanced on Monday in line with an increase in the international rate. The yellow metal was...

Published 15 Apr, 2024 04:23pm

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Published 15 Apr, 2024 03:45pm

Movies & Music

‘From Gaza With Love’: Palestinian Saint Levant rouses Coachella

INDIO, United States: Saint Levant, the Palestinian-French-Algerian-Serbian rapper who’s found viral fame online,...

Published 15 Apr, 2024 03:19pm

Mumbai coach Pollard ‘sick and fed up’ of Pandya bashing

NEW DELHI: It is only a matter of time until Hardik Pandya hits form in the IPL, warned Kieron Pollard, saying he...

Published 15 Apr, 2024 03:14pm

MENA

33,797 Palestinians killed in Gaza offensive since Oct. 7, health ministry says

DUBAI: Israel’s military offensive in the Gaza Strip has killed at least 33,797 Palestinians and wounded 76,465...

Published 15 Apr, 2024 03:08pm

Commodities

Ivory Coast 2023/24 cocoa arrivals down 28% by April 14

ABIDJAN: Main-crop cocoa arrivals at ports in top grower Ivory Coast since the start of the season on Oct. 1 had...

Published 15 Apr, 2024 03:06pm

Tesla to lay off more than 10% of its staff, Electrek reports

Tesla will lay off more than 10% of its workforce, tech publication Electrek reported on Monday, citing an internal...

Published 15 Apr, 2024 03:05pm

Luxury

Rolex’s new offerings for 2024 dominate headlines as Watches and Wonders Geneva concludes

New variations by Swiss luxury watchmaker include diamond-studded Daytona and Deepsea in 18-carat gold

Updated 15 Apr, 2024 02:53pm

Europe

Russia says it’s extremely concerned by rise in Middle East tensions, urges restraint

MOSCOW: Russia said on Monday it was very worried by the rise in tensions in the Middle East following Iran’s mass...

Published 15 Apr, 2024 02:11pm

Europe

Four killed in Russian shelling on east Ukraine

KYIV: Russian shelling killed four people in the eastern Ukraine region of Donetsk, authorities said Monday, as...

Published 15 Apr, 2024 02:06pm

Europe

We must avoid escalation in Middle East: Macron

PARIS: France will do all it can to avoid further escalation in the conflict between Israel and Iran in the Middle...

Published 15 Apr, 2024 01:15pm

Europe

Turkiye unemployment dips to 8.7%, near lowest in a decade

Turkiye unemployment rate fell 0.3% percentage points month-on-month to 8.7% in February, official data showed on...

Published 15 Apr, 2024 01:10pm

OpenAI bids for Japan business as it opens Tokyo office

TOKYO: Microsoft backed artificial intelligence startup OpenAI made a pitch for business in Japan on Monday as it...

Published 15 Apr, 2024 01:09pm

Europe

UK’s Cameron urges Israel not to retaliate against Iran

LONDON: British Foreign Secretary David Cameron urged Israel not to retaliate after Iran’s drone and missile attack,...

Published 15 Apr, 2024 01:07pm

Stocks

London stocks open tepid amid Middle East unrest

British equities started the week on a lower note as escalating tensions in the Middle East caused market...

Published 15 Apr, 2024 01:05pm

Manchester City players enjoy the pressure, says Guardiola

Manchester City thrive on the pressure of playing when everything is on the line, manager Pep Guardiola said, as...

Published 15 Apr, 2024 01:04pm

Forex

Russian rouble slightly weakens against US dollar

MOSCOW: The Russian rouble slightly weakened against the US dollar on Monday. By 0715 GMT, the rouble was 0.18%...

Published 15 Apr, 2024 01:02pm

Mutual Funds

Euro zone yields edge higher as safe-haven demand recedes

The euro area benchmark 10-year Bund yield edged higher on Monday on easing concern about a broadening Middle East...

Published 15 Apr, 2024 12:57pm

Middle East

Israel vows to press on with aggression in Gaza after Iran attack

PALESTINIAN TERRITORIES: Israel launched dozens of air strikes on Gaza overnight, Hamas said Monday, as the army...

Updated 15 Apr, 2024 12:55pm

Stocks

Europe equities open mixed after Iran’s Israel strike

LONDON: Europe’s major stock markets diverged at the open on Monday as dealers assessed the impact of Iran’s strike...

Published 15 Apr, 2024 12:23pm

‘Rust’ armorer to be sentenced over deadly on-set shooting

LOS ANGELES: The armorer who loaded the gun that killed a cinematographer on the set of the Alec Baldwin movie...

Published 15 Apr, 2024 12:13pm

‘Sunset Boulevard’ and Nicole Scherzinger shine at UK’s Olivier awards

LONDON: A revived version of “Sunset Boulevard,” the musical based on the 1950s film, and its leading actress Nicole...

Published 15 Apr, 2024 12:03pm

USA

Biden tells Netanyahu US would not take part in Israeli counter strike against Iran

WASHINGTON: President Joe Biden has told Israeli Prime Minister Benjamin Netanyahu that the United States would not...

Published 15 Apr, 2024 11:52am

‘Civil War’ leads the charge at North American box office

LOS ANGELES: “Civil War,” the hard-hitting film that imagines a dystopian near-future in the United States, topped...

Published 15 Apr, 2024 11:47am

Asia

Japan foreign minister to skip Bahrain trip amid Middle East crisis, officials say

TOKYO: Japan’s foreign minister is preparing to shelve a trip to Bahrain planned for later this week amid escalating...

Published 15 Apr, 2024 11:40am

Forex

China’s yuan hits 5-month low, strong official fix limits losses

SHANGHAI: China’s yuan traded at a five-month low against the dollar on Monday, but the currency avoided any steep...

Published 15 Apr, 2024 11:37am

Japan’s finance minister watches FX moves closely after dollar surges

TOKYO: Japanese Finance Minister Shunichi Suzuki said he was watching currency moves closely, repeating that Tokyo...

Published 15 Apr, 2024 11:35am

Rory McIlroy says he’s so near, yet so far, from major winning form

AUGUSTA: Rory McIlroy will have to wait another year for the chance to complete his career grand slam after a...

Published 15 Apr, 2024 11:31am

Europe

British PM Sunak’s Rwanda scheme set to pass parliament but challenges await

LONDON: The British parliament is set to finally approve a divisive law this week to pave the way for asylum seekers...

Published 15 Apr, 2024 11:19am

South Asia

India’s BJP election manifesto lacks plans for structural economic reforms, Citi says

MUMBAI: Indian Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP) skipped any reference to structural...

Published 15 Apr, 2024 11:14am

Stocks

China stocks rise after new guidelines; HK shares drop

SHANGHAI: China stocks had a good start to the week with major indexes up as investors interpreted the new...

Published 15 Apr, 2024 11:05am

Energy

Tepco to start loading nuclear fuel into Kashiwazaki-Kariwa plant on Monday

TOKYO: Tokyo Electric Power Co will start loading nuclear fuel into reactor No. 7 at its Kashiwazaki-Kariwa power...

Published 15 Apr, 2024 11:04am

Mutual Funds

Philippines awards $264 million T-bill offer

MANILA: Following are the results of the Philippine Bureau of the Treasury’s (BTr) auction of T-bills on Monday:...

Published 15 Apr, 2024 11:03am

Commodities

South Korea’s FLC bought some 65,000 T corn in private deal

HAMBURG: South Korea’s Feed Leaders Committee (FLC) purchased around 65,000 metric tons of animal feed corn in a...

Published 15 Apr, 2024 11:01am

Forex

Australia, NZ dollars recover after steep sell-off on Middle East conflict

SYDNEY: The Australian and New Zealand dollars bounced on Monday after a steep sell-off last week triggered by...

Published 15 Apr, 2024 11:00am

Forex

Asian currencies slip, stocks fall as Fed rate cut bets shift

Most Southeast Asian markets were subdued on Tuesday as rising tensions in the Middle East and a potential delay in...

Published 15 Apr, 2024 10:58am

Rafa Nadal still the ultimate test on clay, says Tsitsipas

Rafa Nadal could return to action this week in Barcelona and play just his second event of an injury-hit season and...

Published 15 Apr, 2024 10:49am

An interview with Anwar Kashif Mumtaz, President, Pakistan Tax Bar Association

‘Documentation is the only way forward’ Anwar Kashif Mumtaz (Advocate Supreme Court) is a Tax and Corporate Lawyer,...

Published 15 Apr, 2024 10:38am

Kylian Mbappe and PSG face fight to keep Champions League dream alive

PARIS: The spectre of another disappointing exit from the Champions League hangs over Paris Saint-Germain after a...

Published 15 Apr, 2024 10:23am

Europe

Croatia elections pit PM against president

ZAGREB: Croatia heads to the polls on Wednesday for parliamentary elections that have centred around a bitter fight...

Published 15 Apr, 2024 10:19am

Stocks

Hong Kong shares open sharply lower

HONG KONG: Hong Kong shares sank more than one percent at the open Monday as geopolitical tensions surge in the wake...

Published 15 Apr, 2024 10:15am

Stadiums rise at Paris landmarks 100 days from Olympics

PARIS: In front of the Eiffel Tower, stands are emerging from a tangle of scaffolding, while at the historic Place...

Published 15 Apr, 2024 10:14am

Punjab govt reduces price of roti

LAHORE: Punjab Chief Minister Maryam Nawaz Sharif has said that the government has reduced the price of roti (bread)...

Updated 15 Apr, 2024 09:55am

IMF: economic team leaves for Washington

The team will request IMF for approval of a new loan programme

Updated 15 Apr, 2024 09:54am

‘Perpetual poverty’ cannot be our fate: Zardari

GARI KHUDA BAKSH/LARKANA: President Asif Ali Zardari has reaffirmed his unwavering commitment to propelling Pakistan...

Updated 15 Apr, 2024 09:53am

Pakistan calls for ‘utmost restraint’

ISLAMABAD: Pakistan on Sunday called for “utmost restraint” following Iran launched retaliatory strikes against...

Updated 15 Apr, 2024 09:51am

Discus thrower Alekna shatters longest-standing men’s world record

Mykolas Alekna of Lithuania shattered the world discus record on Sunday, eclipsing the longest-standing global men’s...

Published 15 Apr, 2024 09:41am

MENA

US military destroyed 80 drones, 6 missiles launched from Iran, Yemen, US Centcom says

CAIRO: US forces, supported by US European Command destroyers, on Saturday and Sunday destroyed more than 80 one-way...

Published 15 Apr, 2024 09:37am

Stocks

Australian shares fall after Iran’s attack on Israel; banks top drag

Australian shares fell on Monday, dragged down by heavyweight financials and gold stocks, as appetite for risk...

Published 15 Apr, 2024 09:25am

Bullion Rate

Gold edges higher as Middle East tensions spur demand

Gold prices edged up on Monday, hovering below a record high hit in the previous session, as escalating tensions in...

Published 15 Apr, 2024 09:19am

Commodities

Wheat futures fall as US dollar holds near 5-1/2-month high

CANBERRA: Chicago wheat futures fell on Monday as a strong dollar made US exports more expensive for overseas...

Published 15 Apr, 2024 09:12am

Interest Rates

China central bank keeps policy rate unchanged, drains cash from banking system

SHANGHAI/SINGAPORE: China’s central bank on Monday left a key policy rate unchanged as expected when rolling over...

Published 15 Apr, 2024 09:09am

Energy

Philippines’ First Gen awards LNG tender for May delivery to China’s CNOOC

SINGAPORE: Philippine power producer First Gen Corp said it had awarded its tender seeking a cargo of liquefied...

Published 15 Apr, 2024 09:03am

Stocks

Asia stocks slide, gold rises as Middle East conflict sparks safety rush

SINGAPORE: Asian shares slumped and gold prices rose on Monday as risk sentiment took a hit after Iran’s retaliatory...

Published 15 Apr, 2024 09:00am

Commodities

Aluminium, nickel jump on US and UK sanctions on Russian metals

BEIJING: Aluminium and nickel futures jumped to multi-month highs on Monday following fresh sanctions by the US and...

Published 15 Apr, 2024 08:56am

Noshki terror attack: Bodies of nine passengers sent to Punjab

DERA GHAZI KHAN: Bodies of nine passengers, who were gunned down in Noshki, Balochistan on Saturday as they were on...

Updated 15 Apr, 2024 08:56am

Gazans flood road north after ‘open checkpoint’ rumours

PALESTINIAN TERRITORIES: Thousands of Gazans flooded the coast road north on Sunday after hearing that several...

Updated 15 Apr, 2024 08:54am

Forex

Dollar stands tall, yen slides as US rate-cut bets recede

SINGAPORE: The dollar steadied on Monday, holding its biggest weekly gain since 2022, as escalating conflict in the...

Published 15 Apr, 2024 08:54am

Israelis rattled by Iranian attack, fear escalation

OCCUPIED JERUSALEM: The first direct attack on Israel by arch foe Iran has shaken Israelis and left them fearful...

Updated 15 Apr, 2024 08:54am

PPRA seeks proposals on amendment of rules

ISLAMABAD: Public Procurement Regulatory Authority (PPRA) has sought proposals for appropriate amendments to the...

Updated 15 Apr, 2024 08:53am

Stocks

South Korean stocks slip amid Middle East tensions

SEOUL: Round-up of South Korean financial markets: South Korean shares end lower on caution ahead of elections, US...

Published 15 Apr, 2024 08:45am

BR’s refresher: your morning briefing for the day

Important updates from April 13 and April 14, 2024

Published 15 Apr, 2024 08:44am

Mutual Funds

India bond yields may rise on Middle East tensions; oil price movement key

MUMBAI: Indian government bond yields may rise in early trading on Monday amid worries that geopolitical tensions in...

Published 15 Apr, 2024 08:42am

Stocks

Indian shares set to open lower on Middle East geopolitical woes

BENGALURU: Indian shares are set to open lower on Monday, tracking Asian peers, as investor sentiment was subdued...

Published 15 Apr, 2024 08:40am

Stocks

Japan’s Nikkei drops 1% as Iran attack, Wall Street sell-off fuel risk aversion

TOKYO: Japan’s blue-chip Nikkei index dropped nearly 1% on Monday as investors sold equities following an escalation...

Published 15 Apr, 2024 08:37am

Forex

Indian rupee to struggle on worries over oil prices, weak risk

MUMBAI: The Indian rupee is expected to be under pressure at open on Monday, possibly dipping to a new low, on...

Published 15 Apr, 2024 08:32am

Asia

Landslides kill 18 on Indonesia’s Sulawesi island, two missing

JAKARTA: Landslides on Indonesia’s Sulawesi island on the weekend killed at least 18 people with rescue efforts,...

Published 15 Apr, 2024 08:29am

Commodities

Palm oil declines ahead of key supply and demand data

KUALA LUMPUR: Malaysian palm oil futures eased in early trading on Monday, as traders awaited key supply and demand...

Published 15 Apr, 2024 08:26am

Ramazan and the remittance rush

Remittances hold a crucial place in Pakistan’s economy. So crucial that the remittances in Pakistan have been...

Published 15 Apr, 2024 08:12am

Deemed income tax on ownership of vacant plot of land incorrect—III

Even if the Elahi Cotton Mills Limited is considered to be final on this subject there is a fundamental difference...