News Archives for Latest - 2023-07-10

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Archive - 2023-07-10

Europe

Zelenskiy: Vilnius summit must confirm Ukraine as de factor NATO member

Ukrainian President Volodymyr Zelenskiy on Monday said the majority of NATO members stood together with his country...

Published 10 Jul, 2023 11:39pm

Europe

Turkey's Erdogan meets EU chief over Sweden NATO bid

VILNIUS: Turkish President Recep Tayyip Erdogan met EU chief Charles Michel on the eve of a NATO summit Monday,...

Published 10 Jul, 2023 11:03pm

World

Russian shelling kills five at Ukraine aid point: governor

KYIV: Russian shelling on an aid hub in the town of Orikhiv in southern Ukraine has killed five people, the regional...

Published 10 Jul, 2023 10:46pm

Stocks

European stocks start week on steady footing, China worries linger

European shares inched higher on Monday with the travel & leisure sector leading gains, helping to limit the...

Published 10 Jul, 2023 09:50pm

Pakistan

PM Shehbaz says 'second agricultural revolution' has begun in Pakistan

PM, COAS vow to put country on the road to progress through Green Pakistan Initiative

Published 10 Jul, 2023 09:23pm

Stocks

UK’s FTSE 100 gains on energy boost; real estate stocks slip

UK’s FTSE 100 ended higher on Monday as gains in energy firms outpaced losses in mining stocks after weak Chinese...

Published 10 Jul, 2023 09:38pm

Pakistan

PM Shehbaz reiterates Pakistan’s commitment to meet UN SDGs with enhanced cooperation

Premier stresses the salience of international development cooperation to present a unified global response for socioeconomic development

Published 10 Jul, 2023 08:51pm

Stocks

KSE-100 closes near 44,600 after 378-point gain

Index has been witnessing a bull run since the IMF deal, volume and value of shares traded also increase

Updated 10 Jul, 2023 08:33pm

Third-party participation in CPEC: draft modalities finalised

Minister for Planning, Ahsan Iqbal directs CPEC Secretariat to get approval before sharing input draft modalities with MoFA

Updated 10 Jul, 2023 08:29pm

Forex

Rupee sees decline, settles at 279.8 against US dollar

Currency depreciates 0.68% in inter-bank market

Updated 10 Jul, 2023 08:24pm

Forex

Standard Chartered boosts 2024 bitcoin forecast to $120,000

LONDON: The value of top cryptocurrency bitcoin could reach $50,000 this year and $120,000 by the end of 2024...

Published 10 Jul, 2023 08:23pm

USA

Fed’s Barr lays out plan to order more capital for large US banks

WASHINGTON: The Federal Reserve’s top regulatory official laid out a sweeping plan to increase capital requirements...

Published 10 Jul, 2023 08:20pm

Energy

Oil dips on Chinese and US data, but OPEC+ cuts limit fall

LONDON: Oil prices dipped on Monday after weak economic data from top consumers the United States and China, though...

Updated 10 Jul, 2023 08:17pm

Stocks

TSX flat as investors await US inflation data, BoC decision

Canada’s main stock index was rangebound on Monday as gains in energy stocks outweighed losses in utility shares,...

Published 10 Jul, 2023 08:14pm

Stocks

Dow, S&P 500 kick off week higher ahead of inflation numbers

The S&P 500 and the Dow rose on Monday, recovering losses from last week, as investors looked ahead to a key...

Published 10 Jul, 2023 08:12pm

Money & Banking

Irfan Siddiqui’s tenure as CEO/president of Meezan Bank extended

Upon his retirement on Dec 29, 2025, BankIslami's current CEO Syed Amir Ali will assume the roles

Updated 10 Jul, 2023 06:42pm

Forex

Pakistan’s remittances stand at $2.2bn in June, 3.9% higher month-on-month

Cumulatively, at $27bn, remittances decrease 13.6% during FY23 as compared to FY22

Updated 10 Jul, 2023 06:41pm

Markets

Fitch upgrades Pakistan to ‘CCC’ after IMF deal

Long-Term Foreign-Currency Issuer Default Rating (IDR) improved due to 'Pakistan's improved external liquidity and funding conditions following staff-level agreement'

Updated 10 Jul, 2023 06:41pm

Pakistan

Marriyum says PTI chairman directly responsible for May 9 events

Says PTI chief’s statements regarding cypher and absurd claim of a planned rocket launcher attack on him prove his sick mentality

Updated 10 Jul, 2023 06:29pm

Pakistan

PM Shehbaz’s son Suleman acquitted in money laundering case

An accountability court in 2019 had issued non-bailable warrants for the arrest of Suleman

Updated 10 Jul, 2023 05:57pm

Movies & Music

Margot Robbie ‘shocked’ by fan fervour before ‘Barbie’ film release

LOS ANGELES: ‘Barbie’ actress Margot Robbie said she was bewildered by the love fans are showing for the movie...

Published 10 Jul, 2023 05:51pm

Pakistan

Digital economy essential for sustainable development, says Ahsan Iqbal

Minister for Planning says the combination of industrialization and digital connectivity has opened up new avenues for innovation

Published 10 Jul, 2023 05:39pm

South Asia

Iran’s president to set out on rare Africa tour

TEHRAN: Iranian President Ebrahim Raisi will embark Tuesday on a rare Africa tour in the latest diplomatic efforts...

Published 10 Jul, 2023 05:40pm

Companies

JS Global Capital withdraws intention to acquire EFG Hermes Pakistan

JS Global Capital Limited (JSGCL), one of Pakistan’s largest broking and investment banking firms, has decided not...

Published 10 Jul, 2023 05:32pm

Europe

Erdogan links Sweden’s NATO membership to Turkiye’s EU accession

ISTANBUL: Turkish President Tayyip Erdogan, in an unexpected move, said on Monday the European Union should open the...

Published 10 Jul, 2023 05:24pm

Pakistan

Pakistani mountaineer races rivals, hunts funds to chase summit record

Shehroze Kashif aims this year to become the youngest person to climb every peak above 8,000 meters

Updated 10 Jul, 2023 05:22pm

World

British-Pakistani journalist Saima Mohsin sues CNN for ‘unfair dismissal’

Mohsin, international correspondent for CNN, says she was injured during an assignment in Jerusalem in 2014, but network 'did not' have her back

Published 10 Jul, 2023 05:14pm

Pakistan

PM Shehbaz directs foolproof arrangements ahead of possible flooding in rivers

Instructions come after NDMA issued a fresh warning regarding the possibility of low floods in River Ravi after India released approximately 185,000 cusecs of water from Ujh Barrage

Updated 10 Jul, 2023 05:19pm

South Asia

China, Solomon Islands sign policing pact in upgrade of ties

BEIJING: China and the Solomon Islands on Monday signed a deal on police cooperation as part of upgrading their...

Published 10 Jul, 2023 05:14pm

Movies & Music

Shah Rukh Khan launches action-packed teaser for upcoming ‘Jawan’

Movie is due to be released on September 7 in India

Published 10 Jul, 2023 05:11pm

Europe

Russia says on eve of NATO summit that Ukrainian entry would be a threat requiring tough response

LONDON: Russia said on Monday that Ukrainian membership of the NATO military alliance would have very negative...

Published 10 Jul, 2023 05:08pm

Companies

Foxconn dumps $19.5bn Vedanta chip plan in blow to India

TAIPEI/BENGALURU: Taiwan’s Foxconn said on Monday it has withdrawn from a $19.5 billion semiconductor joint venture...

Published 10 Jul, 2023 05:02pm

Europe

Still possible to get nod for Swedish NATO membership at summit: Stoltenberg

VILNIUS: NATO’s secretary general said on Monday it was still possible that Sweden could join the alliance a summit...

Published 10 Jul, 2023 04:58pm

Movies & Music

Brad Pitt respects F1 and thrills drivers at Silverstone

Brad Pitt was full of praise and respect for Formula One and, in particular, the drivers on Sunday after spending...

Updated 10 Jul, 2023 04:58pm

South Asia

Indian court dismisses plea by Zee’s ex-chairman, CEO over market regulator ban

BENGALURU/MUMBAI: An Indian tribunal on Monday dismissed an appeal by former Zee Group Chairman Subhash Chandra and...

Published 10 Jul, 2023 04:50pm

Companies

Haier’s new twin inverter/refrigerator

In the realm of refrigeration technology, Haier has once again established its leadership with the introduction of...

Published 10 Jul, 2023 04:39pm

Africa

Egypt annual inflation at record 36.8% in June

CAIRO: Annual inflation in Egypt hit 36.8 percent in June, official figures showed on Monday, an all-time high for...

Published 10 Jul, 2023 03:03pm

Technology

Twitter rival Threads signs up 100 million users in five days

PARIS: The Threads app launched by Instagram as a rival to Twitter has signed up more than 100 million users in less...

Published 10 Jul, 2023 03:01pm

Life & Style

Sarah Silverman sues Meta, OpenAI for copyright infringement

Comedian Sarah Silverman and two authors have filed copyright infringement lawsuits against Meta Platforms and...

Published 10 Jul, 2023 02:20pm

Stocks

European shares slip as China data sparks disinflation concerns

European shares slipped on Monday after logging big weekly losses as weak inflation numbers from China stoked...

Published 10 Jul, 2023 12:59pm

Forex

Russian rouble weakens, heading back towards 92 vs dollar

The Russian rouble weakened on Monday, heading back towards the 92 mark against the dollar and not far from a more...

Published 10 Jul, 2023 12:57pm

Commodities

Copper eases as China data disappoints; supply issues weigh

BEIJING: London copper prices slid on Monday, weighed down by demand concerns as disappointing China inflation data...

Published 10 Jul, 2023 12:55pm

Stocks

Tech rally lifts Hong Kong but Asia rally stutters on China data

HONG KONG: Hong Kong rose Monday on hopes Beijing has ended its long-running crackdown on the tech sector but an...

Published 10 Jul, 2023 12:52pm

Stocks

Australian shares pare gains to close lower; US inflation data in focus

Australian shares reversed course to settle lower on Monday, after surprisingly low inflation print in China weighed...

Published 10 Jul, 2023 12:34pm

Forex

Indian rupee recovers, premiums inch up; US inflation data key

MUMBAI: The Indian rupee managed to recover on Monday and far forward premium rose, tracking a fall in near-maturity...

Published 10 Jul, 2023 11:54am

Stocks

Japan’s Nikkei falls for fifth straight day as yen, Wall Street weigh

TOKYO: Japan’s Nikkei share average slumped to a fifth straight losing session on Monday – its longest streak this...

Published 10 Jul, 2023 11:51am

Europe

Ukrainian forces advance in south, hold ‘initiative,’ says Zelenskiy

Ukrainian troops pressed on with their campaign to recapture Russian-held areas in the southeast as President...

Published 10 Jul, 2023 11:46am

Europe

Putin-Erdogan talks only hope for Black Sea grain deal extension: RIA

Expected negotiations between Russian President Vladimir Putin and Turkey’s President Tayyip Erdogan remain the only...

Published 10 Jul, 2023 11:12am

Mutual Funds

Indian bond yields eye US peers, key inflation data for triggers

MUMBAI: Indian government bond yields were largely unchanged at the start of the week, as traders eyed moves in the...

Published 10 Jul, 2023 11:09am

Forex

Australia, NZ dollars slip on China inflation miss, nurse losses on yen

SYDNEY: The Australian and New Zealand dollars eased on Monday following more data showing a fading post-pandemic...

Published 10 Jul, 2023 11:05am

Stocks

Reliance Industries powers Indian shares ahead of June quarter earnings

BENGALURU: Indian shares advanced on Monday, led by heavyweight Reliance Industries, ahead of the corporate earnings...

Published 10 Jul, 2023 10:47am

Asia

China urges ‘practical’ US action on sanctions after Yellen talks

BEIJING: China on Monday called on the US to take “practical action” in response to its “major concerns” about...

Published 10 Jul, 2023 10:43am

South Asia

Torrential rain, floods kill 22 across northern India

Torrential rain across northern India has killed at least 22 people, as well as causing landslides and flash floods...

Published 10 Jul, 2023 10:35am

Asia

China June inflation flat as economy struggles

BEIJING: Chinese inflation was flat last month while producer prices sank more than expected, official data showed...

Published 10 Jul, 2023 10:10am

Forex

Dollar softens, China’s yuan draws support from stimulus hopes

SINGAPORE: The dollar was on the defensive on Monday as investors scaled back expectations over how much further...

Published 10 Jul, 2023 09:57am

Commodities

Corn, soybeans edge higher, though US weather curbs gains

SINGAPORE: Chicago corn and soybean futures ticked higher on Monday, after losses in the previous session, although...

Published 10 Jul, 2023 09:54am

Cricket

Australia’s Warner in spotlight as Cummins says all options on table

David Warner’s hopes of choosing the manner of his retirement from international cricket have dimmed after the...

Published 10 Jul, 2023 09:52am

Europe

US, Ukraine’s top diplomats hold ‘important’ call before NATO summit

U.S. Secretary of State Antony Blinken and Ukraine’s Foreign Minister Dmytro Kuleba said late on Sunday they held a...

Published 10 Jul, 2023 09:44am

Stocks

HK, China stocks rebound amid hopes Sino-US ties improving and tech crackdown ending

SHANGHAI: Hong Kong and China stocks rebounded on Monday, as the release of more weak economic data supported hopes...

Published 10 Jul, 2023 09:39am

Forex

China’s yuan weakens, hurt by disappointing inflation data

SHANGHAI/SINGAPORE: China’s yuan eased against the dollar on Monday, hurt by disappointing inflation data which...

Published 10 Jul, 2023 09:37am

Commodities

Gold flat on doubts over US rate hike trajectory

Gold prices were little changed on Monday after U.S. jobs data last week cast doubts over the labor market’s...

Published 10 Jul, 2023 09:35am

BR Research

Power tariffs at a tipping point

The power tariffs are on a continuous rise. This is despite the fact that the marginal cost of power production in...

Published 10 Jul, 2023 09:12am

BR Research

Power generation: No respite

Pakistan’s national grid electricity generation fell by another 16 percent year-on-year in May 2023 –the second...

Published 10 Jul, 2023 09:09am

Trade with China crosses ‘psychological barrier’ of $20bn: FPCCI

KARACHI: Irfan Iqbal Sheikh, President Federation of Pakistan Chambers of Commerce and Industry (FPCCI), has...

Updated 10 Jul, 2023 09:00am

‘China advising against experiments’: Ahsan says his statement ‘taken out of context’

ISLAMABAD: Planning Minister Ahsan Iqbal on Sunday said his recent statement in which he appeared to say that China...

Updated 10 Jul, 2023 08:59am

Foreign suppliers’ accounts through customs bonded storage facilities: Guidelines for crude oil import issued

ISLAMABAD: The Directorate General of Oil (Petroleum Division) has issued guidelines for import of crude oil on...

Updated 10 Jul, 2023 08:58am

Restaurants/eateries: Credit/debit card payments allowed at reduced 5pc ST

ISLAMABAD: The government has taken a significant documentation measure by allowing credit/debt card payments at a...

Updated 10 Jul, 2023 08:57am

Social media campaign against COAS: PM reacts strongly

ISLAMABAD: Prime Minister Shehbaz Sharif strongly condemned social media campaign about an alleged murder attempt on...

Updated 10 Jul, 2023 08:56am

NDMA alerts admin after India releases water into Ravi River

ISLAMABAD: The National Disaster Management Authority (NDMA) on Sunday issued a fresh warning regarding the...

Updated 10 Jul, 2023 08:54am

World Bank terms implementation progress of Sindh Resilience Project ‘satisfactory’

ISLAMABAD: The World Bank has rated the implementation progress of “Sindh Resilience Project” satisfactory with...

Updated 10 Jul, 2023 08:53am

Pharmaceutical sector granted major tax relief

ISLAMABAD: The government has provided major tax relief to the pharmaceutical sector by allowing the reduced rate of...

Updated 10 Jul, 2023 08:51am

Fazl irked by Nawaz-Zardari meeting in Dubai

PESHAWAR: Pakistan Democratic Movement (PDM) President Maulana Fazlur Rehman has expressed displeasure over the...

Updated 10 Jul, 2023 08:51am

BRICS summit to be ‘physical’ despite Putin warrant: S Africa

JOHANNESBURG: South African President Cyril Ramaphosa said Sunday that next month’s BRICS summit, which Vladimir...

Updated 10 Jul, 2023 08:49am

BR’s refresher: your morning briefing for the day

Important updates from July 8 and July 9, 2023

Published 10 Jul, 2023 08:45am

Pakistan

Pakistani, Egyptian academia join hands to establish ‘Dairy Science Park Cairo’

PESHAWAR: The Academy for Scientific Research and Technology (ASRT) Egypt and Dairy Science Park (DSP) Peshawar have...

Published 10 Jul, 2023 08:03am

Industry

Peshawar’s business community hails direct flight to Kazakhstan

PESHAWAR: Business community welcomed the launching of a direct flight between Pakistan and Kazakhstan and hoped ...

Published 10 Jul, 2023 07:59am

Pakistan

Shri Hinglaj Mata mandir: ‘Yatri bus’ announced

KARACHI: Sindh Minority Affairs Department has announced to start a Yatri bus service for Shri Hinglaj Mata Yatra,...

Published 10 Jul, 2023 07:57am

Business & Finance

CPEC projects: Direct investment worth $25.4bn attracted from China in 10 years

BEIJING: The projects under China-Pakistan Economic Corridor (CPEC) a flagship project of the Belt and Road...

Published 10 Jul, 2023 07:53am

Companies

Samsung expects Q2 profit to plunge more than 95pc

SEOUL: Samsung Electronics said Friday it expects second-quarter operating profits to fall more than 95 percent...

Updated 10 Jul, 2023 07:52am

Companies

Brookfield to buy annuities provider American Equity in $4.3bn deal

BENGALURU: Canadian investment firm Brookfield on Wednesday agreed to buy the remaining stake in American Equity...

Published 10 Jul, 2023 07:50am

Companies

Maruti Suzuki goes upmarket in India with new seven seater

NEW DELHI: Maruti Suzuki, India’s biggest automaker, is looking to break into the premium car segment with its new...

Published 10 Jul, 2023 07:46am

Companies

World Cup fever lifts Qatar Airways revenue to record high

DUBAI: Qatar Airways late on Wednesday reported a record annual revenue of 76.3 billion riyals ($21 billion),...

Published 10 Jul, 2023 07:45am

Companies

Bausch + Lomb expands eye-care portfolio with J&J’s Blink

BENGALURU: Bausch + Lomb acquired Johnson & Johnson’s eye and contact lens drops brand Blink for $106.5...

Published 10 Jul, 2023 07:42am

Opinion

TERF: We’re always on home turf when it comes to criticism!

TERF (temporary economic refinance facility) was a hot topic last week. The scheme was offered at the time of Covid...

Updated 10 Jul, 2023 07:32am

Opinion

Call a spade a spade

The refrain from the Prime Minister’s office prior to 23 June 2023 that all International Monetary Fund (IMF)...

Updated 10 Jul, 2023 07:31am

BR Research

Interview with Ghazanfar Azzam - President & CEO Mobilink Bank

“Driving sustainable economic growth through digital and financial inclusion”. Ghazanfar Azzam, President &...

Published 10 Jul, 2023 07:00am

World

Israel, Saudi normalization a long way off, Biden says

WASHINGTON: Israel and Saudi Arabia are a long way from a normalization agreement that would involve a defence ...