News Archives for Latest - 2023-07-07

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Archive - 2023-07-07

World

Blinken to seek ASEAN pushback on China, pressure on Myanmar

WASHINGTON: US Secretary of State Antony Blinken will seek in talks with Southeast Asian nations next week to push...

Published 07 Jul, 2023 11:06pm

Pakistan

IMF team meets PTI leadership at Zaman Park in Lahore

The delegation also holds meeting with PPP leadership

Published 07 Jul, 2023 10:12pm

Stocks

S&P 500, Dow slip after mixed jobs data

The S&P 500 and the Dow slipped on Friday after latest data signaled resilience in the labor market in the face...

Published 07 Jul, 2023 09:15pm

Pakistan

PM Shehbaz inaugurates centre to promote agricultural exports

Chief of Army Staff General Syed Asim Munir also attends the ceremony

Updated 07 Jul, 2023 09:14pm

Stocks

Energy, materials stocks push TSX higher

Canada’s main stock index reversed course to edge up on Friday, helped by gains in energy and materials, though...

Published 07 Jul, 2023 09:13pm

Pakistan

ECP to meet on July 10 to discuss LG polls in Punjab, Islamabad

The Election Commission of Pakistan (ECP) on Friday announced an exclusive meeting on Monday, July 10, to discuss...

Published 07 Jul, 2023 08:37pm

Companies

Pak Suzuki extends automobile, motorcycle plant shutdown till July 19

Pak Suzuki Motor Company (PSMC) has decided to extend the shutdown of its automobile and motorcycle plant till July...

Updated 07 Jul, 2023 08:34pm

Business & Economy

World Bank approves $46mn financing for KPK’s healthcare sector

Funding will support both supply and demand side interventions to improve health service delivery in the province

Updated 07 Jul, 2023 08:34pm

Forex

Rupee sees marginal decline, settles at 277.9 against US dollar

Currency depreciates 0.31% in inter-bank market

Updated 07 Jul, 2023 08:33pm

South Asia

India’s federal police arrest three railway employees over deadly train crash

MUMBAI: India’s federal police have arrested three railway employees on Friday in connection with the country’s...

Published 07 Jul, 2023 08:00pm

Cricket

Bangladesh’s Tamim reverses shock retirement after PM meet

DHAKA: Bangladesh cricketer Tamim Iqbal withdrew his retirement from international cricket Friday – a day after...

Updated 07 Jul, 2023 07:58pm

Europe

NATO indecision on Sweden, Ukraine a ‘threat’ to global security: Zelensky

BRATISLAVA: Ukrainian President Volodymyr Zelensky on Friday called on NATO to resolve the issue of Sweden and...

Published 07 Jul, 2023 07:53pm

Cricket

Stokes keeps England’s Ashes hopes alive in third Test

LEEDS: England captain Ben Stokes’s latest dashing counter-attack kept his side’s Ashes hopes alive in the third...

Updated 07 Jul, 2023 07:50pm

Cricket

Sri Lanka see off sorry West Indies in qualifier dead rubber

HARARE: Sri Lanka maintained their unbeaten record at the Cricket World Cup Qualifier as Pathum Nissanka’s hundred...

Published 07 Jul, 2023 07:46pm

USA

Yellen criticizes China’s ‘punitive’ actions against US companies, urges market reforms

BEIJING: U.S. Treasury Secretary Janet Yellen called on Friday for market reforms in China and criticized the...

Published 07 Jul, 2023 07:37pm

Pakistan

Drone carrying 6kgs of heroin crashes in Lahore

Police says drone’s size was larger than usual

Updated 07 Jul, 2023 07:19pm

Sports

PSG sign midfielder Ugarte from Sporting for 60 million euros

Paris St Germain have signed Uruguay international Manuel Ugarte from Sporting Lisbon for 60 million euros ($65.32...

Published 07 Jul, 2023 06:47pm

Movies & Music

Christopher Nolan returns with latest blockbuster ‘Oppenheimer’

NEW YORK: Acclaimed film director Christopher Nolan turns his attention to J. Robert Oppenheimer for his new...

Published 07 Jul, 2023 06:01pm

Movies & Music

Trudeau to Taylor Swift: Don’t make it a cruel summer and come to Canada

OTTAWA: Prime Minister Justin Trudeau took to Twitter to try to convince American pop star Taylor Swift to add some...

Published 07 Jul, 2023 05:45pm

Pakistan

‘Youm-e-Taqaddus-e-Quran’: PM Shehbaz calls on country to protest against desecration

FM Bilawal says Pakistan will raise issue at United Nations Human Rights Council to be held on July 11

Updated 07 Jul, 2023 05:40pm

Pakistan

Justice Mussarat Hilali takes oath as Supreme Court judge

She is the second female to become apex court judge

Updated 07 Jul, 2023 05:38pm

Business & Economy

IMF ‘seeks assurances’ from Pakistan’s political parties on commitment to new SBA

IMF official says lender's staff in process of meeting representatives from PML-N, PTI, PPP

Updated 07 Jul, 2023 05:37pm

Energy

Global LNG: Asia spot prices hold steady on summer demand

SINGAPORE: Asian spot liquefied natural gas (LNG) prices held steady for a second consecutive week, as some summer...

Published 07 Jul, 2023 05:37pm

Life & Style

Threads rife with Twitter roasts as new app clocks 30mn users

Threads is currently the most rapidly downloaded app, even surpassing ChatGPT

Updated 07 Jul, 2023 05:36pm

Pakistan

At least 50 dead in Pakistan monsoon floods

Rescuers still searching for other children trapped in the debris

Updated 07 Jul, 2023 05:36pm

Commodities

Copper up as LME stocks fall; focus on US jobs data

LONDON: Copper rose on Friday, recovering from three sessions of falls, as stocks in warehouses LME-registered...

Published 07 Jul, 2023 05:27pm

Europe

Turkiye sees $10bn in Gulf investments after upcoming Erdogan visit

ANKARA: Turkiye expects Gulf countries to make direct investments of about $10 billion initially in domestic assets...

Published 07 Jul, 2023 05:24pm

Commodities

Asia Gold: Chinese premiums remain elevated, India discounts deepen

Top gold consumer China this week saw physical gold being sold at elevated premiums that held at more than...

Published 07 Jul, 2023 05:11pm

Currency

Two Bangladesh banks to offer trade transactions in Indian rupees

DHAKA: Two Bangladeshi banks including the largest state-owned lender plan to introduce trade transactions in Indian...

Published 07 Jul, 2023 05:08pm

Pakistan

ECP issues cyber security alert after ransomware attack targets employees

Asks employees not to open the email and report it as spam

Published 07 Jul, 2023 04:53pm

Stocks

India’s Nifty snaps eight-day win streak on Fed concerns; logs weekly gain

BENGALURU: India’s blue-chip Nifty 50 index fell for the first time in nine sessions on Friday, succumbing to the...

Published 07 Jul, 2023 05:03pm

Test Threads Embed

Published 07 Jul, 2023 04:26pm

Technology

Musk threatens lawsuit as Twitter rival Threads takes off

WASHINGTON: Twitter threatened to sue Meta just hours after the Instagram parent company launched Threads, an app it...

Updated 07 Jul, 2023 03:43pm

Business & Economy

IMF programme to ‘reform and restructure’ Pakistan’s economy: PM Shehbaz

Prime Minister Shehbaz Sharif said on Friday that the recently-announced International Monetary Fund (IMF) programme...

Updated 07 Jul, 2023 03:36pm

Forex

Indian rupee logs worst week in seven, awaits US jobs data amid hawkish Fed

BENGALURU: The Indian rupee ended at an over one-month low against the U.S. dollar on Friday, and logged its worst...

Updated 07 Jul, 2023 03:33pm

Energy

Oil prices set for second straight weekly gain after US data

LONDON: Oil prices rose on Friday and were on track for their second straight weekly gain, as resilient demand...

Updated 07 Jul, 2023 03:16pm

Stocks

London stocks decline as rate hike fears linger; Coca Cola HBC shines

UK’s FTSE 100 touched an over three-month low on Friday, as fears of high global interest rates persisted ahead of a...

Published 07 Jul, 2023 02:22pm

Europe

Zelenskiy, Erdogan to discuss grain deal, prisoner swaps: Turkish official

ISTANBUL: The presidents of Ukraine and Turkiye will discuss on Friday the potential extension of the Black Sea...

Published 07 Jul, 2023 02:20pm

Movies & Music

Checking out, when they like: Eagles announce farewell tour

NEW YORK: Chart-topping rock band the Eagles on Thursday announced a final tour after more than half a century in...

Published 07 Jul, 2023 01:29pm

Stocks

European shares inch lower ahead of US jobs report

European shares edged lower on Friday, following sharp losses in the previous session, after U.S. data that showed a...

Published 07 Jul, 2023 01:01pm

Europe

Ukraine reports new advances near eastern city of Bakhmut

KYIV: Ukrainian troops have advanced by more than a kilometre in the last day against Russian forces near the...

Published 07 Jul, 2023 12:58pm

Asia

Malaysia PM Anwar to meet Elon Musk to discuss investments

KUALA LUMPUR: Malaysia’s Prime Minister Anwar Ibrahim on Friday said he will meet Elon Musk, CEO of Tesla and owner...

Published 07 Jul, 2023 12:55pm

Europe

IAEA ‘making progress’ on Zaporizhzhia access: Grossi

TOKYO: The UN’s nuclear watchdog is “making progress” on inspecting several parts of the Zaporizhzhia nuclear plant...

Published 07 Jul, 2023 12:51pm

Asia

Yellen says ‘impossible’ to decouple China, US economies

BEIJING: US Treasury Secretary Janet Yellen said Friday that a decoupling of the US and Chinese economies would be...

Updated 07 Jul, 2023 12:15pm

Stocks

Japan’s Nikkei slumps for fourth straight session on Fed tightening concerns

TOKYO: Japan’s Nikkei share average fell on Friday for a fourth consecutive day, tracking overnight declines in US...

Published 07 Jul, 2023 12:08pm

Companies

Airbus books record India orders, confirms higher deliveries

PARIS: Record demand from India sharply increased Airbus orders in June to leave the European planemaker with 1,044...

Published 07 Jul, 2023 12:06pm

Stocks

Australian shares log worst week in 9 months as rate-hike fears weigh

Australian shares skidded more than 1% in an all-sector selloff on Friday, posting their worst week in nine months,...

Published 07 Jul, 2023 12:03pm

Forex

China’s yuan firms, PBOC’s guidance keeps trading in tight range

HONG KONG: China’s yuan firmed against the dollar on Friday, as the central bank’s daily fixing reinforced investor...

Published 07 Jul, 2023 11:23am

Commodities

Gold heads for fourth weekly loss on calls for more rate hikes

Gold prices on Friday were on track for a fourth consecutive weekly loss as recent US jobs data and hawkish comments...

Published 07 Jul, 2023 11:22am

Cotton & Textile

APTMA urges Primark to open office in Pakistan

LAHORE: The All Pakistan Textile Mills Association (APTMA) has invited Primark, an international fashion retailer,...

Updated 07 Jul, 2023 11:21am

South Asia

Indian court rejects Rahul Gandhi’s plea to suspend defamation conviction

NEW DELHI: A high court in western India on Friday rejected an appeal by opposition leader Rahul Gandhi to suspend...

Published 07 Jul, 2023 11:18am

Editorials

The battle for TERF

EDITORIAL: Temporary Economic Refinance Facility (TERF) was a concessionary finance scheme that was offered to...

Updated 07 Jul, 2023 11:01am

South Asia

‘No second chance’ to save Sri Lanka, central banker warns

COLOMBO: The man charged with clawing Sri Lanka out of bankruptcy says he had warned about economic calamity years...

Published 07 Jul, 2023 10:47am

Stocks

Indian shares hit new highs; earnings, monsoon lifts mood

BENGALURU: Indian shares rose on Friday morning, recovering from some early losses as sustained foreign inflows,...

Published 07 Jul, 2023 10:39am

Mutual Funds

Indian bond yields climb as US peers break key levels; debt sale eyed

MUMBAI: Indian government bond yields continued to witness fresh highs, after US yields saw the breakout of key...

Published 07 Jul, 2023 10:33am

South Asia

US envoy expresses sorrow over ethnic violence in India’s northeast

NEW DELHI: The US ambassador to New Delhi expressed sorrow over the ethnic violence in India’s northeastern state of...

Published 07 Jul, 2023 10:31am

Europe

Zelensky set to meet Turkiye’s Erdogan as Ukraine pushes NATO goals

PRAGUE: President Volodymyr Zelensky is set to hold talks with Turkish leader Recep Tayyip Erdogan on Friday on the...

Published 07 Jul, 2023 09:42am

Stocks

Asian markets fall further as US data fans rate fears

HONG KONG: Stocks tumbled again Friday in Asia after another round of strong US data reinforced expectations the...

Published 07 Jul, 2023 09:35am

BR Research

TERF loans: do better!

SBP’s TERF scheme is in the news again. Reportedly, governor SBP has now agreed to an in-camera briefing for members...

Published 07 Jul, 2023 09:29am

BR Research

Cement still in check

Costly construction and declining consumer buying power, together with cuts in public sector spending has dampened...

Published 07 Jul, 2023 09:27am

BR Research

Interview with Tufail Ahmed Khan - CEO, Pakistan Freelancers Association (PAFLA)

‘Freelancers from Pakistan have access to leading platforms’ Tufail Ahmed Khan is the CEO of Pakistan...

Published 07 Jul, 2023 09:23am

Forex

Dollar steadies as US economy stays resilient; eyes on nonfarm payrolls

SINGAPORE: The dollar held tight ranges on Friday as investors awaited a key U.S. jobs report and weighed the...

Published 07 Jul, 2023 09:14am

Q1FY24: Cash-strapped govt to borrow record Rs11trn

KARACHI: In the absence of sufficient foreign inflows, the federal government has planned to borrow over Rs 11...

Updated 07 Jul, 2023 09:07am

Projects worth Rs18bn launched: PM sets his sights on KP ahead of polls

Announces establishment of a Danish School as well as two colleges in the remote district of Khyber Pakhtunkhwa

Updated 07 Jul, 2023 09:06am

Renewable energy: MoU signed with UAE

ISLAMABAD: A memorandum of understanding (MoU) was signed between Pakistan and the United Arab Emirates (UAE) in the...

Updated 07 Jul, 2023 09:04am

Pakistan

Desecration of Holy Quran in Sweden: Parliamentarians express deep anguish

ISLAMABAD: The joint sitting of parliament on Thursday strongly condemned the desecration of the Holy Quran by a man...

Updated 07 Jul, 2023 09:03am

Basis for fixation of base tariff: Rupee could hit 325 mark vs dollar by June 2024: PD

ISLAMABAD: The Power Division is said to have projected that Pak rupee could touch Rs 325 per US$ by June 2024,...

Updated 07 Jul, 2023 09:03am

Development projects: Finance unveils strategy on release of funds

ISLAMABAD: The Ministry of Finance on Thursday unveiled the strategy for the release of funds for the development...

Updated 07 Jul, 2023 09:02am

Designs of two hydropower projects: PCA accepts Pakistan’s petition against India

ISLAMABAD: The Hague-based Permanent Court of Arbitration (PCA) has accepted Pakistan’s position that it had...

Updated 07 Jul, 2023 08:59am

1,320MW Shanghai Thar Coal Block-1: Financial closure in peril as ICBC decides to withdraw $300m financing

ISLAMABAD: The financial closure of 1,320 MW Shanghai Thar Coal Block-1 is reportedly in trouble as Industrial and...

Updated 07 Jul, 2023 08:58am

Pakistan

PM urges Guterres to convene urgent meeting

ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday said the desecration of Holy Quran was an attempt to create...

Updated 07 Jul, 2023 08:57am

Around $100m debt: Pakistan, Italy agree on ‘PIDSA’ timeline extension

ISLAMABAD: Pakistan and Italy reached an agreement to extend the timeline of the Pakistan-Italian Debt Swap...

Updated 07 Jul, 2023 08:56am

BR’s refresher: your morning briefing for the day

Important updates from July 6, 2023

Published 07 Jul, 2023 08:47am

Opinion

Retrospective tax on windfall income discourages corporatization—I

A new Section 99D has been introduced in the Income Tax Ordinance 2001 (“ITO”) through the Finance Act 2023...

Updated 07 Jul, 2023 06:10am

Opinion

Climate change crisis and multilateralism

‘I played a key role as chair of the African Union during the Covid period. We felt like we were beggars when it...

Updated 07 Jul, 2023 06:04am

Opinion

Unaddressed economic challenges

The debate and anxiety throughout Pakistan in the aftermath of the stalled Extended Fund Facility (EFF) programme...

Updated 07 Jul, 2023 05:59am

World

China plans to introduce fastest bullet train soon

KARACHI: China, with the largest high-speed rail network in the world, has planned to introduce its fastest bullet...