News Archives for Latest - 2023-07-06

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Archive - 2023-07-06

World

Iran's Revolutionary Guards seize commercial ship in Gulf: US Navy

LONDON: Iran's Revolutionary Guards "forcibly seized" a commercial ship in international waters in the Gulf on...

Published 06 Jul, 2023 11:22pm

World

Operator of Titanic sub that imploded suspends all expeditions

WASHINGTON: The company that operated the sub which imploded during a dive to the Titanic wreck, killing all five...

Published 06 Jul, 2023 11:08pm

Europe

Ukraine's Zelensky urges arms maker Bulgaria for help

SOFIA: Ukrainian President Volodymyr Zelensky appealed for support Thursday in Bulgaria, a major arms maker and ...

Published 06 Jul, 2023 10:45pm

Sports

Mountaineer Asif Bhatti rescued after four-day-long operation

Mountaineer Asif Bhatti was rescued on Thursday after a four-day-long operation. He was stranded at about 7500...

Published 06 Jul, 2023 10:14pm

Stocks

European shares hit 14-week low on rate hike jitters

European shares slumped to their lowest level in three months on Thursday, as heightened concerns about further...

Published 06 Jul, 2023 09:40pm

Stocks

UK’s FTSE 100 hits three-month low as rate hike worries grip

The UK’s FTSE 100 touched a more than three-month low on Thursday, in tandem with a sell-off in global equities, as...

Published 06 Jul, 2023 09:38pm

Pakistan

At least eight children killed in Shangla landslide

Rescue officials fear more casualties

Updated 06 Jul, 2023 09:35pm

Cricket

Ton-up Marsh makes England pay for dropped catch in third Ashes Test

LEEDS, UNITED KINGDOM: Australia’s Mitchell Marsh marked his first Test in nearly four years with a blistering...

Updated 06 Jul, 2023 09:26pm

Forex

SBP-held foreign exchange reserves rise $393mn, stand at $4.46bn

Increase comes on back of official government inflows

Published 06 Jul, 2023 09:16pm

Stocks

Tech, mining stocks drag TSX lower on rate-hike worries

Canada’s main stock index fell more than 1% on Thursday, with materials and technology shares leading declines as...

Published 06 Jul, 2023 09:21pm

Stocks

Wall St slides 1% as labor data stokes rate hike concerns

Wall Street tumbled on Thursday as data signaling a resilient labor market and hawkish minutes of the Federal...

Published 06 Jul, 2023 09:05pm

Energy

Oil drops 1% as market frets about risk of US rate hike

NEW YORK: Oil prices fell over 1% on Thursday as the market digested the higher likelihood of a U.S. interest rate...

Updated 06 Jul, 2023 09:01pm

Pakistan

Accountability court says Nawaz Sharif politically victimised in plot allotment case, unfreezes assets

Court says former prime minister was wrongfully declared an absconder

Published 06 Jul, 2023 06:56pm

Cricket

Babar Azam says ready to play ‘anyone, anywhere’ in India

KARACHI: Pakistan are ready to take on any side at any venue in India during this year’s World Cup, skipper Babar...

Published 06 Jul, 2023 06:57pm

Pakistan

PM Shehbaz says country's progress depends on nation, state institutions working together

Premier says it is responsibility of the government, judiciary, armed forces and the people to act in unison to ensure development of the country

Published 06 Jul, 2023 06:49pm

Stocks

After 14 months: KSE-100 powers past 44,000 with over 600-point gain

Settles at nearly 44,200 on news that IMF board meeting is set for July 12 to consider Pakistan's SBA

Updated 06 Jul, 2023 06:50pm

Pakistan

14 injured as rain continues to batter Lahore

Caretaker Punjab Chief Minister Mohsin Naqvi says injured in critical condition

Updated 06 Jul, 2023 06:48pm

Pakistan

Major martyred during IBO in Khyber district: ISPR

ISPR says security forces conducted operation on reported presence of terrorists

Updated 06 Jul, 2023 06:48pm

Forex

Rupee strengthens marginally, settles at 277.04 against US dollar

Currency appreciates 0.13% in inter-bank market on Thursday

Updated 06 Jul, 2023 06:47pm

Europe

Zelensky to meet Erdogan Friday in Istanbul

ISTANBUL: Ukrainian President Volodymyr Zelensky will visit Istanbul on Friday for talks with Turkish counterpart...

Published 06 Jul, 2023 06:12pm

South Asia

Iranian and Sudanese foreign ministers discuss ‘resumption of ties’

DUBAI: Iran’s foreign minister Hossein Amirabdollahian met the Sudanese foreign minister for the first time since...

Published 06 Jul, 2023 05:48pm

USA

US layoffs halve in June as tech job cuts ease: report

Layoffs in the United States nearly halved in June from a month earlier as job cuts in the technology sector fell,...

Published 06 Jul, 2023 05:22pm

Sports

Battling Svitolina knocks Mertens out of Wimbledon

LONDON: Former Wimbledon semi-finalist Elina Svitolina continued her excellent run in Grand Slams following her...

Published 06 Jul, 2023 05:13pm

Business & Economy

UAE minister says keen to invest in Pakistan’s renewable energy sector

Wants to identify projects to work with counterparts in the country

Updated 06 Jul, 2023 05:10pm

Stocks

Sri Lankan shares end higher after central bank slashes rates

BENGALURU: Sri Lankan shares closed higher on Thursday, after the island nation cut its key interest rates for the...

Published 06 Jul, 2023 05:07pm

Commodities

Copper falls on weak global growth outlook

LONDON: Copper prices in London fell on Thursday under pressure from a weak global economic growth outlook and tepid...

Published 06 Jul, 2023 05:05pm

Pakistan

Multan Sultans owner Alamgir Khan Tareen passes away in Lahore

Alamgir Khan Tareen, the owner of PSL franchise Multan Sultans and brother of Istehkam-e-Pakistan Party chief...

Updated 06 Jul, 2023 05:03pm

Europe

Wagner chief is still in Russia: Belarus leader

MINSK: Wagner chief Yevgeny Prigozhin is still in Russia, Belarus’s president said Thursday, raising questions about...

Published 06 Jul, 2023 04:58pm

Sports

‘I wasn’t in Chelsea’s plans’ says Man Utd’s Mount

LONDON: Manchester United’s new midfielder Mason Mount claims he left Chelsea because he realised he was not in the...

Published 06 Jul, 2023 04:51pm

Energy

UAE climate chair urges oil firms to slash emissions

PARIS: The Emirati oil executive chairing this year’s UN climate summit, Sultan Al Jaber, told private and national...

Published 06 Jul, 2023 04:48pm

South Asia

Myanmar junta, rebels dispute deaths in village rocket attack

BANGKOK: Myanmar’s junta accused anti-coup fighters of killing 15 civilians in a rocket attack, a claim disputed by...

Published 06 Jul, 2023 04:41pm

Europe

Moscow says closing Finnish consulate, expels 9 diplomats

MOSCOW: Russia announced Thursday that it was shuttering Finland’s consulate in Saint Petersburg and expelling nine...

Published 06 Jul, 2023 04:37pm

Luxury

First Saudi at Paris Fashion Week underlines dramatic changes

PARIS: Saudi Arabia is continuing its multi-billion-dollar entry into all aspects of global culture, hitting a new...

Published 06 Jul, 2023 03:53pm

Forex

Indian rupee logs worst day in one month on hawkish Fed minutes, premiums plunge

MUMBAI: The Indian rupee logged its worst day in a month against the dollar on Thursday, while far forward premiums...

Updated 06 Jul, 2023 03:35pm

Technology

Meta takes aim at Twitter with Threads app, millions join

NEW YORK: Meta Platforms on Wednesday launched a direct challenge to Twitter with Threads, garnering millions of...

Updated 06 Jul, 2023 03:29pm

USA

US’s Yellen to kick off China visit with both sides locked in confrontation

BEIJING: US Treasury Secretary Janet Yellen arrived in Beijing on Thursday to begin a four-day visit expected to...

Updated 06 Jul, 2023 03:20pm

Stocks

Indian shares close higher, shrugging off weakness in Asia, Europe

BENGALURU: Indian shares closed higher on Thursday, in contrast to weakness in Asian and European equities, bucking...

Updated 06 Jul, 2023 03:16pm

Perspectives

Startups in Pakistan: where shutdowns kill competition

The past few quarters have proved to be horrendous for Pakistan’s startup sector with the country experiencing major...

Published 06 Jul, 2023 03:16pm

Cricket

Bangladesh captain Tamim announces shock retirement before World Cup

DHAKA: Bangladesh one-day captain Tamim Iqbal announced his shock retirement from international cricket on Thursday,...

Published 06 Jul, 2023 02:54pm

Opinion

And now Hydrogen from Earth

A new source of Hydrogen has been discovered recently. It has been named Natural/White Hydrogen. It is extracted...

Updated 06 Jul, 2023 02:46pm

Luxury

Valentino takes modern haute couture lineup to Chateau de Chantilly

PARIS: Italian fashion house Valentino took to the Chateau de Chantilly, north of Paris, for its fall haute couture...

Published 06 Jul, 2023 02:30pm

Stocks

Nikkei ends at over 1-week low; Socionext weighs after top shareholders exit

TOKYO: Japan’s Nikkei share average closed at a more than one-week low on Thursday, dragged down by chip-related...

Published 06 Jul, 2023 01:25pm

Technology

Google accuses India antitrust body of protecting Amazon in Android probe

NEW DELHI: Google has accused India’s antitrust body of ordering changes to its business model “only to protect”...

Published 06 Jul, 2023 01:21pm

Stocks

Australian shares log worst day in two weeks on rate hike fears

Australian shares slumped on Thursday, dragged down by heavyweight mining and financial stocks, as the U.S. Federal...

Published 06 Jul, 2023 01:12pm

Stocks

London stocks fall at open as rate hike worries grip

British stocks fell at the open on Thursday, as minutes from the U.S. Federal Reserve’s last meeting rekindled...

Published 06 Jul, 2023 01:10pm

Stocks

European shares drop as hawkish Fed, US-China tensions weigh

European shares slumped nearly 1% on Thursday as heightened concerns about an economic slowdown and further rates...

Published 06 Jul, 2023 01:07pm

Mutual Funds

Indian benchmark yield at over 2-month high as US peers rise

MUMBAI: Indian government bond yields trended up early Thursday, with the benchmark bond yield jumping to its...

Published 06 Jul, 2023 12:03pm

Commodities

Wheat falls after rally, tightening global supplies limit decline

SINGAPORE: Chicago wheat slid on Thursday as the market took a breather after the previous session’s strong gains,...

Published 06 Jul, 2023 11:42am

Commodities

Copper falls on firmer dollar, hawkish Fed

Copper prices fell on Thursday, heading for a third straight session of decline in London, as a stronger dollar and...

Published 06 Jul, 2023 11:40am

Forex

Rouble extends post-mutiny slump to fall past 92 vs dollar

The Russian rouble tumbled to a more than 15-month low past 92 against the dollar on Thursday, hampered by strong...

Published 06 Jul, 2023 11:33am

Europe

Zelensky says slow weapons delivery delayed counteroffensive

WASHINGTON: Slow weapons deliveries to Ukraine delayed Kyiv’s planned counteroffensive, allowing Russia to bolster...

Published 06 Jul, 2023 11:11am

Cricket

Australia’s Big Bash League unveils December 7 start

SYDNEY: Australia’s Big Bash Twenty20 League will begin on December 7 this year and culminate in a rare mid-week...

Published 06 Jul, 2023 11:08am

Companies

Musk predicts Tesla self-driving cars ‘later this year’

SHANGHAI: Electric car giant Tesla is set to realise fully autonomous vehicles “later this year”, CEO Elon Musk said...

Published 06 Jul, 2023 11:02am

Stocks

Asia tracks Wall St lower as Fed minutes warn of more hikes

HONG KONG: Markets fell again in Asia on Thursday as traders resigned themselves to more US interest rate hikes...

Published 06 Jul, 2023 10:37am

Private power plants: PD pays Rs300bn to trim circular debt

Finance Ministry has issued a GoP guarantee in respect of fresh refinancing facilities from a consortium of four banks

Updated 06 Jul, 2023 10:36am

Europe

Four dead after missile strike on apartment block in Ukraine’s Lviv

KYIV: A missile attack on an apartment block in western Ukraine’s Lviv killed four people on Thursday, in what its...

Published 06 Jul, 2023 10:23am

BR Research

FY23 - drab for oil consumption

Oil consumption in the country has shrunk to its minimum since FY07 to only 16.6 million tons during the year...

Updated 06 Jul, 2023 10:19am

BR Research

Wholesale price respite: But just

The near euphoria on CPI readings falling from the expected peak is bordering ridiculous. Consider that the 29...

Updated 06 Jul, 2023 10:15am

Forex

Dollar firms on rate hike views after Fed minutes, yen treads water

SINGAPORE: The dollar was broadly higher on Thursday, after the release of minutes from the Federal Reserve’s latest...

Published 06 Jul, 2023 10:11am

Forex

Australia, NZ dollars slip after Fed minutes, yields jump

SYDNEY: The Australian and New Zealand dollars slipped on Thursday after Federal Reserve minutes showed “some...

Published 06 Jul, 2023 10:04am

Commodities

Gold flat, investors await US data for Fed’s rate cues

Gold was flat on Thursday as investors awaited a raft of U.S. economic data that could influence the Federal...

Published 06 Jul, 2023 09:58am

Forex

China’s yuan firms as central bank pledges again to stabilize currency

HONG KONG: China’s yuan firmed against the dollar on Thursday after the central bank offered more reassurances to...

Published 06 Jul, 2023 09:54am

BR Research

NetSol Technologies Limited

NetSol Technologies Limited (PSX: NETSOL) was incorporated in Pakistan as a private limited company in 1996 and was...

Updated 06 Jul, 2023 09:50am

Money & Banking

Sri Lanka cuts key rates as expected; more cuts seen by year-end

COLOMBO: Sri Lanka cut its key interest rates for the second consecutive month on Thursday as inflation tapered...

Published 06 Jul, 2023 09:27am

US envoy calls on Dar, discusses IMF ‘relief’

Ambassador of the United States of America Donald Blome expresses confidence in the policies and programmes of the government for bringing economic sustainability

Updated 06 Jul, 2023 08:45am

Federal govt employees: 17.5pc increase in pension notified

ISLAMABAD: The federal government has notified the 17.5 percent increase in the pension for the pensioners of the...

Updated 06 Jul, 2023 08:43am

Barter trade instrument: MoC says it has gotten ‘blanket’ approval from cabinet

ISLAMABAD: Commerce Ministry said on Wednesday that it has obtained “blanket” approval from the Federal Cabinet for...

Updated 06 Jul, 2023 08:43am

May 23 FCA: Nepra approves tariff hike for Discos, KE

ISLAMABAD: National Electric Power Regulatory Authority (Nepra) on Wednesday accorded in principle approval of...

Updated 06 Jul, 2023 08:41am

FBR to ‘sell’ excise rules, general orders, departmental rulings to public

ISLAMABAD: The Federal Board of Revenue (FBR) will “sell” federal excise rules, general orders and departmental...

Updated 06 Jul, 2023 08:39am

SC allows PIA to fill up 205 vacancies

ISLAMABAD: The apex court allowed Pakistan International Airlines (PIA) to fill 205 vacant positions, including...

Updated 06 Jul, 2023 08:38am

Pakistan

There’s no default threat now, says PM

ISLAMABAD: Prime Minister Shehbaz Sharif while expressing commitment to fully comply with the International Monetary...

Updated 06 Jul, 2023 08:37am

SBP’s TERF during PTI govt’s tenure: PAC to examine list of 620 borrowers in camera

ISLAMABAD: The Public Accounts Committee (PAC) in an in-camera meeting will examine the list of 620 individuals/...

Updated 06 Jul, 2023 08:36am

Govt debt stocks hit all-time high of Rs59trn

KARACHI: The federal government’s total debt stocks rose to an all-time high level of Rs 59 trillion at the end of...

Updated 06 Jul, 2023 08:35am

BR’s refresher: your morning briefing for the day

Important updates from July 5, 2023

Published 06 Jul, 2023 08:34am

World

Scotland marks coronation of King Charles and Queen

EDINBURGH: Scotland marked the coronation of King Charles and his wife Camilla on Wednesday with a grand procession...

Updated 06 Jul, 2023 07:15am

Opinion

Super tax and tax on bonus: misinterpretation of basic accounting–II

Now, if the rationale, intention and equitability have to prevail, the following will be the answer: the tax super...

Updated 06 Jul, 2023 06:24am

Opinion

SBA won’t cut it

Fine, it was the single biggest one-day jump in the stock market in 15 years. But is it really that unbelievable,...

Updated 06 Jul, 2023 06:20am

Editorials

Vanishing green spaces

EDITORIAL: In our rapidly growing cities the need for green spaces routinely gets ignored as the following case...

Updated 06 Jul, 2023 06:15am

Editorials

There’s need for forging ahead on own steam

EDITORIAL: Rating agency Moody’s has warned that Pakistan’s liquidity risks remain high in spite of the...

Updated 06 Jul, 2023 06:14am

World

Britain’s Afghan probe investigating UK special forces: minister

LONDON: Britain’s defence minister on Wednesday said allegations of unlawful killings in Afghanistan being ...