News Archives for Latest - 2023-07-11

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Archive - 2023-07-11

World

Turkey's Erdogan wishes Biden 'best of luck' in 2024 re-election bid

VILNIUS: Fresh from handing Joe Biden a diplomatic victory by easing Sweden's path into NATO, Turkish President...

Published 11 Jul, 2023 11:08pm

World

'Ukraine will make NATO stronger,' Zelenskiy says in summit city

VILNIUS: President Volodymyr Zelenskiy voiced disappointment that Ukraine was not invited to join NATO on Tuesday,...

Published 11 Jul, 2023 11:01pm

Stocks

Miners, oil stocks support FTSE 100, strong pound limits gains

The internationally-focused FTSE 100 edged higher on Tuesday, buoyed by a rise in commodity-linked stocks, while a...

Published 11 Jul, 2023 10:21pm

Stocks

European shares rise, Irish stocks lead

European shares ended higher on Tuesday amid investor hopes the U.S. Federal Reserve was nearing the end of its...

Published 11 Jul, 2023 09:56pm

Energy

Oil prices up 2% to 10-week high on weaker US dollar, rising demand forecasts

NEW YORK: Oil prices jumped about 2% to a 10-week high on Tuesday, boosted by a falling U.S. dollar, hopes for...

Updated 11 Jul, 2023 09:52pm

Industry

Fiscal year 2022-23: car sales drop 56% due to high prices, low purchasing power

Automobile firms sell 126,879 cars in previous fiscal year

Published 11 Jul, 2023 09:33pm

Pakistan

Pakistan condemns Holy Quran desecration as 'attack on faith' at UN rights council

Foreign Minister Bilawal Bhutto-Zardari says it is important to understand the deep hurt the act caused to Muslims

Published 11 Jul, 2023 09:30pm

Pakistan

Israel’s criticism of human rights in Pakistan ‘politically motivated’: FO

Foreign Office says Pakistan can certainly do without Israel's advice on protecting human rights

Updated 11 Jul, 2023 09:30pm

Middle East

Kuwait’s parliament backs ban on sales of products from Holy Quran burning countries

CAIRO: Kuwait’s parliament has instructed the trade ministry to ban the sale of products made by countries involved...

Published 11 Jul, 2023 08:17pm

Forex

Rupee fights back, settles at 278.57 against US dollar

Currency appreciates 0.44% in the inter-bank market

Updated 11 Jul, 2023 08:06pm

Pakistan

PPP advised govt to dissolve assemblies on August 8: Naveed Qamar

Says the party wants electoral reforms before elections

Updated 11 Jul, 2023 07:36pm

Europe

27% of jobs at high risk from AI revolution, says OECD

PARIS: More than a quarter of jobs in the OECD rely on skills that could be easily automated in the coming...

Published 11 Jul, 2023 07:31pm

Europe

EU, Australia fail to reach free trade deal: EU Commission

BRUSSELS: The European Union and Australia have failed to conclude talks on a planned free trade agreement, a...

Published 11 Jul, 2023 07:26pm

Stocks

S&P 500, Dow rise ahead of monthly inflation data

The Dow and the S&P 500 rose on Tuesday ahead of inflation data, as investors were hopeful that a slowdown in...

Published 11 Jul, 2023 07:22pm

Forex

Saudi Arabia deposits $2bn in SBP: Ishaq Dar

Finance minister says this will boost central bank-held foreign exchange reserves

Updated 11 Jul, 2023 07:10pm

South Asia

Twitter better for ‘freedom of speech’, says senior Afghan Taliban official

KABUL: Twitter owner Elon Musk’s freewheeling approach to the platform’s handling of censorship has won support from...

Published 11 Jul, 2023 07:08pm

Companies

Pakistan’s Indus Motor Company starts exports to Toyota Egypt: CEO

Agreement signed, Ali Asghar Jamali says 'too early' to deem it turning point for struggling auto sector

Updated 11 Jul, 2023 06:52pm

Pakistan

PM Shehbaz unveils program aimed at empowering women

Premier says women make up more than half of the country's population, and they are a vital part of our society

Published 11 Jul, 2023 06:18pm

Europe

US to move forward with transfer of F-16 jets to Turkiye

VILNIUS: Washington will move ahead with the transfer of F-16 fighter jets to Turkiye in consultation with Congress,...

Published 11 Jul, 2023 06:01pm

South Asia

North Korea condemns US plan to send cluster munitions to Ukraine as ‘criminal’

SEOUL: North Korea on Tuesday condemned U.S. President Joe Biden’s decision to send cluster munitions to Ukraine as...

Published 11 Jul, 2023 05:53pm

Europe

Russian military official on Ukraine blacklist shot dead on morning run

A Russian military official who had commanded a submarine in the Black Sea and appeared on a Ukrainian blacklist of...

Published 11 Jul, 2023 05:49pm

Europe

Turkiye expects concrete steps for EU accession after Sweden NATO approval

ISTANBUL: Turkiye expects a European Union reform group to be revived after Ankara approves Sweden’s NATO membership...

Published 11 Jul, 2023 05:44pm

Stocks

Saudi Arabia’s $2bn: KSE-100 rallies to over 45,000 for the first time since April 2022

Volumes soar as KSE-100 ends with another 1.28% gain on Tuesday

Updated 11 Jul, 2023 05:40pm

Stocks

Sri Lanka shares end higher as consumer staples, industrials gain

BENGALURU: Sri Lankan shares closed higher on Tuesday, aided by gains in consumer staples and industrials...

Published 11 Jul, 2023 05:37pm

Business & Economy

$77.8mn funding secured for Recharge Pakistan project: Sherry Rehman

Project aims to build Pakistan’s climate resilience and water security through cost-effective ecosystem-based adaptation

Updated 11 Jul, 2023 05:20pm

Commodities

Aluminium prices rise on weaker dollar and China demand hopes

LONDON: Aluminium prices rose on Tuesday, helped by a weaker dollar, stronger auto sales in China and Beijing’s...

Published 11 Jul, 2023 05:15pm

Pakistan

Contempt case: ECP issues non-bailable arrest warrants for PTI chief, Fawad Chaudhry

Commission adjourns hearing till July 25

Updated 11 Jul, 2023 04:38pm

Movies & Music

Nimra Bucha to star in adaptation of Agatha Christie novel ‘Murder Is Easy’

Two-part thriller is a co-commission between BBC and BritBox International

Updated 11 Jul, 2023 04:28pm

Real Estate

Dubai property prices surge at fastest pace since 2014

DUBAI: Dubai residential property prices in the year to June 30 rose at their fastest in almost a decade, climbing...

Published 11 Jul, 2023 04:27pm

Movies & Music

Madonna’s North American concerts postponed as singer recovers

LOS ANGELES: Pop superstar Madonna said on Monday that all of the North American dates on her upcoming tour will be...

Published 11 Jul, 2023 04:27pm

Sports

England name unchanged squad for fourth Ashes Test

England have retained an unchanged squad for the fourth Ashes Test against Australia, which will be played at Old...

Published 11 Jul, 2023 04:20pm

Europe

Kremlin says Sweden joining NATO will be negative for Russian security

MOSCOW: The Kremlin said on Tuesday Sweden’s expected accession to NATO would have clear negative implications for...

Published 11 Jul, 2023 04:04pm

South Asia

India’s government orders inspection of Byju’s account books

India’s Ministry of Corporate Affairs has ordered an inspection into the account books of embattled edtech startup...

Published 11 Jul, 2023 03:58pm

Energy

OPEC Sec Gen: global energy demand seen rising 23% through 2045

ABUJA: Global energy demand is forecast to rise 23% through 2045, Haitham Al Ghais, the secretary general of the...

Published 11 Jul, 2023 03:54pm

Financial

US banking giants to report higher profits even as dealmaking drags

NEW YORK: Wall Street banks are expected to report higher profits for the second quarter as rising interest payments...

Published 11 Jul, 2023 03:50pm

Europe

France to send long-range missiles to Ukraine: Macron

VILNIUS: France will join Britain in supplying long-range missiles to Ukraine, a move that allows Ukrainian forces...

Published 11 Jul, 2023 03:36pm

Europe

Zelenskiy says ‘absurd’ if Ukraine is not offered timeframe for NATO membership

KYIV: Ukrainian President Volodymyr Zelenskiy said it would be absurd if Ukraine is not offered a timeframe for NATO...

Published 11 Jul, 2023 03:32pm

Energy

UK’s Centrica signs $8bn LNG deal with Delfin Midstream

British Gas parent firm Centrica has signed a 15-year liquefied natural gas (LNG) supply agreement with US-based...

Published 11 Jul, 2023 02:33pm

Commodities

Scanty rains diminish India’s sugar output, export prospects

SATARA/SANGLI/SOLAPUR: Sugarcane growers in India’s top producing states are worried scanty rainfall during the...

Published 11 Jul, 2023 02:29pm

South Asia

Indian drugs regulators took action against 105 pharma firms, minister says

NEW DELHI: Indian drugs regulators have taken action against 105 pharmaceutical companies after a risk-based...

Published 11 Jul, 2023 02:24pm

Sports

Semenya wins appeal over human rights violations

Caster Semenya, a double Olympic 800m champion, won her appeal on Tuesday to the European Court of Human Rights to...

Published 11 Jul, 2023 02:04pm

Europe

NATO’s Stoltenberg: Not seen any movement of Wagner fighters to Belarus

VILNIUS: NATO has not seen any movement of Wagner group fighters to Belarus, Russia’s ally in its war against...

Published 11 Jul, 2023 02:00pm

Stocks

European shares gain on hopes of end to Fed rate hikes, China stimulus

European shares rose on Tuesday as investors hoped the US Federal Reserve was nearing the end of its interest rate...

Published 11 Jul, 2023 01:56pm

Technology

Foxconn eyes India chipmaking incentives after quitting $19.5bn JV

TAIPEI/NEW DELHI: Taiwan’s Foxconn said on Tuesday it plans to apply for incentives that India is offering under its...

Published 11 Jul, 2023 01:53pm

Financial

Credit Suisse crash investigated by Swiss lawmakers

ZURICH: A rare Swiss parliamentary investigation due to start this week aims to establish what went wrong before the...

Published 11 Jul, 2023 01:46pm

Stocks

Australian shares end higher led by rally in commodity stocks

Australian shares closed more than 1% higher on Tuesday, marking their best day since early January, led by a surge...

Updated 11 Jul, 2023 01:07pm

Stocks

Japan’s Nikkei pares most gains on sell-off to lock in profits

TOKYO: Japan’s Nikkei share average ended slightly higher on Tuesday, snapping five straight sessions of losses, but...

Updated 11 Jul, 2023 01:05pm

Movies & Music

‘Succession’ and strikes: what to expect from Emmy nominations

LOS ANGELES: Can any TV show topple ‘Succession’ at the Emmys? Will Amazon’s lavish ‘Lord of the Rings’ prequel rule...

Published 11 Jul, 2023 12:59pm

South Asia

Bastille Day welcome for Modi as France courts India

NEW DELHI: Indian Prime Minister Narendra Modi is guest of honour Friday for Bastille Day celebrations in France,...

Published 11 Jul, 2023 12:58pm

Sports

Wimbledon Day 9: Quarter-finals guide

LONDON: Novak Djokovic targets the Wimbledon semi-finals on Tuesday while Iga Swiatek plays in the last eight for...

Published 11 Jul, 2023 12:45pm

Sports

Football: Women’s World Cup Group C

WELLINGTON: The FIFA Women’s World Cup in Australia and New Zealand kicks off on July 20. AFP Sport takes a detailed...

Published 11 Jul, 2023 12:36pm

Sports

Fukushima-born Endo ready to run free for Japan at World Cup

TOKYO: Jun Endo wasn’t allowed to play football outside after the 2011 Fukushima nuclear disaster because of...

Published 11 Jul, 2023 12:25pm

Europe

NATO to give ‘path’ for Ukraine to join, but no ‘timetable’: White House

VILNIUS: NATO will lay out a path of reforms for Ukraine so that it can eventually join the alliance, but without...

Published 11 Jul, 2023 12:12pm

Asia

Death toll rises in collapse of under-construction Bangkok highway

BANGKOK: A second person has been confirmed killed and 12 others injured in the collapse of a road bridge under...

Published 11 Jul, 2023 12:10pm

Europe

UK unemployment climbs as inflation weighs on economy

LONDON: UK unemployment rose back to four percent in the three months to the end of May, official data showed...

Published 11 Jul, 2023 12:02pm

Stocks

Asian shares jump as investors eye end to Fed hikes, China stimulus

HONG KONG: Asian shares bounced and the safe-haven dollar edged lower on Tuesday as investors hoped this week’s US...

Published 11 Jul, 2023 11:55am

Asia

Heavy rain in southern Japan leaves up to six dead, 3 missing

TOKYO: Torrential rain over Japan’s southwestern island of Kyushu triggered floods and landslides that left up to...

Published 11 Jul, 2023 11:51am

Financial

Japan Finance Minister Suzuki: arranging G7 meet on sidelines of G20

TOKYO: Japan is arranging to hold a meeting of financial leaders from the Group of Seven (G7) advanced countries on...

Published 11 Jul, 2023 11:47am

Bullion Rate

Gold struggles for momentum as traders await US inflation data

Gold prices were steady on a weaker dollar on Tuesday, although bullion struggled for momentum as investors were...

Published 11 Jul, 2023 11:43am

Forex

Indian rupee likely to inch up as dollar hits two-month low

MUMBAI: The Indian rupee is expected to rise on Tuesday, tracking the dollar’s decline versus a basket of its major...

Published 11 Jul, 2023 11:38am

Europe

Russia launches air attack on Kyiv hours before NATO summit

KYIV: Russia launched an overnight air strike on Kyiv in early hours on Tuesday, Ukraine’s military said, just hours...

Published 11 Jul, 2023 11:33am

Commodities

Corn eases on improved US crop condition, wheat firms

SINGAPORE: Chicago corn futures lost ground on Tuesday after a weekly US government report showed improvement in...

Published 11 Jul, 2023 11:28am

Sports

United States arrive in New Zealand for Women’s World Cup defence

The United States touched down in Auckland on Tuesday in the lead-up to their bid for a third consecutive Women’s...

Published 11 Jul, 2023 11:25am

Forex

China’s yuan edges up on firmer-than-expected fix, property support steps

SHANGHAI/SINGAPORE: China’s yuan inched up against the dollar on Tuesday after the central bank continued to set a...

Published 11 Jul, 2023 11:11am

Stocks

China, HK stocks rise as Beijing’s stimulus lifts property shares

SHANGHAI: China and Hong Kong shares rose on Tuesday after Beijing extended its policy support to the ailing...

Published 11 Jul, 2023 11:08am

Mutual Funds

Indian bond yields dip as 10-year US yield falls below 4%

MUMBAI: Indian government bond yields trended lower early Tuesday after the benchmark US yield eased below 4%,...

Published 11 Jul, 2023 11:01am

USA

Trump seeks to delay trial date in Mar-a-Lago documents case

Donald Trump and his aide Walt Nauta asked a federal court in Florida to postpone the criminal trial in the...

Published 11 Jul, 2023 10:56am

Forex

Asian FX, equities up on easing rate rise bets, China stimulus hope

Emerging Asian currencies appreciated across the board on Tuesday, with the Thai baht firming most in a week, as the...

Published 11 Jul, 2023 10:51am

Asia

China’s foreign minister to miss ASEAN meet, deepening mystery over whereabouts

China’s foreign minister Qin Gang will not attend a diplomatic gathering in Indonesia as expected this week, sources...

Published 11 Jul, 2023 10:47am

Financial

Japan’s changing views on price hikes open door for BOJ policy tweak

TOKYO: Japanese consumers may finally be shedding their decades-old frugal mindset, spending more on items that...

Published 11 Jul, 2023 10:41am

Energy

IEA says critical minerals supply could pull close to demand by 2030

LONDON: Supply of minerals critical to the energy transition could move close to levels needed to support climate...

Published 11 Jul, 2023 10:35am

Rs69.5bn money laundering unearthed in solar panel imports

KARACHI: The Directorate of Post Clearance Audit (PCA) South has uncovered massive money laundering in the solar...

Updated 11 Jul, 2023 09:51am

Forex

Australia, NZ dollars recoup losses on pullback in US yields

SYDNEY: The Australian and New Zealand dollars recouped overnight losses on Tuesday as the greenback was pressured...

Published 11 Jul, 2023 09:46am

Stocks

Indian shares set to track Asian peers higher

BENGALURU: Indian shares are set to open higher on Tuesday, tracking the rise in their Asian peers as hopes of a...

Published 11 Jul, 2023 09:39am

Forex

Dollar slips as Fed hike cycle nears end; focus on US inflation

SINGAPORE: The dollar weakened on Tuesday after Federal Reserve officials signalled that the central bank was...

Published 11 Jul, 2023 09:37am

BR Research

Remittances in FY23

Remittances sent home by Pakistanis abroad has tapered off in FY23 to $27 billion – declining by 14 percent...

Published 11 Jul, 2023 09:36am

BR Research

Cement: Prices reign supreme

The fiscal year (FY23) wraps with the price of a 50-kg cement bag standing tall at an average Rs1145, highest...

Published 11 Jul, 2023 09:33am

BR Research

Punjab Oil Mills Limited

Punjab Oil Mills (PSX: POML) is incorporated as a public limited company in Pakistan. The principal activity of the...

Published 11 Jul, 2023 09:24am

Asia

Top diplomat Wang to represent China at ASEAN-led gathering

JAKARTA: Top diplomat Wang Yi will represent China at an international gathering of foreign ministers this week in...

Published 11 Jul, 2023 09:21am

Technology

Apple Store goes live on WeChat mini programme

BEIJING: Apple Store’s official online store went live on Tencent’s WeChat mini programme on Tuesday, according to...

Published 11 Jul, 2023 09:18am

Sufficient inflows of USD mandatory: Relaxation on retiring of LCs not ‘unrestrained’: official

Information shared by Ministry of Industries and Production (MoI&P) informally with National Assembly Standing Committee on Industries and Production

Updated 11 Jul, 2023 09:06am

Fitch upgrades rating on improved external liquidity

ISLAMABAD: Fitch Ratings has upgraded Pakistan’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to “CCC”...

Updated 11 Jul, 2023 09:02am

Sindh govt approves 17.5pc increase in pension

KARACHI: The Sindh government has sanctioned an increase of 17.5 percent on net pension with effect from July 01,...

Updated 11 Jul, 2023 09:01am

Payable as RD: SC allows Customs to encash 50pc bank guarantee of OMCs

ISLAMABAD: The Supreme Court has allowed the Collector of Customs, Karachi to encash 50 percent bank guarantee of...

Updated 11 Jul, 2023 09:00am

PM optimistic about country’s agri prospects

ISLAMABAD: Prime Minister Shehbaz Sharif has termed the agriculture sector as backbone of the country, saying, it is...

Updated 11 Jul, 2023 09:00am

SIH transaction: Privatisation Commission allowed to proceed

ISLAMABAD: The Cabinet Committee on Privatization (CCoP) on Monday allowed the Privatization Commission to proceed...

Updated 11 Jul, 2023 08:58am

Sugar retail price soars

ISLAMABAD: Sugar price within the past three months registered an increase of Rs40 per kg in the retail market, ie,...

Updated 11 Jul, 2023 08:57am

Pakistan

ECP refuses to hold LG polls in Punjab thru EVMs, i-voting

ISLAMABAD: The poll body has refused to hold the local government elections in Punjab through electronic voting...

Updated 11 Jul, 2023 08:55am

Declaration of assets & liabilities: FBR sets deadline

ISLAMABAD: The Federal Board of Revenue (FBR) has given a deadline of July 15, 2023 to all the officers of Inland...

Updated 11 Jul, 2023 08:54am

Position of Nepra chairman advertised

ISLAMABAD: Cabinet Division on Monday advertised the position of Chairman National Electric Power Regulatory...

Updated 11 Jul, 2023 08:52am

BR’s refresher: your morning briefing for the day

Important updates from July 10, 2023

Published 11 Jul, 2023 08:45am

Perspectives

10 urgent policy priorities for Pakistan towards AI-readiness

Whether it will evolve into our greatest creation or existential threat, there is no doubt that the future is...

Published 11 Jul, 2023 08:30am

Opinion

PARTLY FACETIOUS: IMF’s rare contact

“Okaaay.” “What brought on that long drawn out sigh?” “The International Monetary Fund (IMF) contacted all...

Updated 11 Jul, 2023 07:29am

Opinion

Strategic miscalculations regarding TTP

Given the political and economic instability and uncertainty afflicting Pakistan, it is all too easy to forget the...

Updated 11 Jul, 2023 06:40am

Opinion

The ebb of external inflows

The Ministry of Economic Affairs has released the statement of May 2023 on Disbursement of Foreign Economic...

Updated 11 Jul, 2023 06:37am

Rates

Kibor interbank offered rates

KARACHI: Kibor interbank offered rates on Monday (July 10, 2023). ========================== KIBOR...