News Archives for Latest - 2023-07-13

Movies & Music

Pakistani documentary ‘The Accused: Damned or Devoted’, Ms. Marvel earn Emmy nominations

Nominations for the 75th Primetime Emmy Awards included three nominations for Ms. Marvel

Updated 14 Jul, 2023 01:00am

Pakistan

Blinken welcomes Pakistan-IMF deal, says US 'stands by Pakistani people'

US Secretary of State urges Pakistan to continue working with IMF toward macroeconomic reforms, sustainable economic recovery

Updated 14 Jul, 2023 12:14am

Companies

Amazon's 'biggest ever' Prime Day boosts US online sales to $12.7bn

US online sales during Amazon.com's Prime Day shopping event rose 6.1% to $12.7 billion from last year, as...

Published 13 Jul, 2023 11:40pm

Technology

Many India ministers view online gaming as 'social evil': senior official

NEW DELHI: Many Indian ministers view bets on online gaming platforms as a "social evil", and the government ...

Published 13 Jul, 2023 11:33pm

World

Putin has 'already lost' Ukraine war, Biden says

HELSINKI: US President Joe Biden said Thursday that Russia's Vladimir Putin has already lost the war in Ukraine,...

Published 13 Jul, 2023 11:04pm

Cricket

ICC to hand out equal prize money in men's and women's cricket

LONDON: The International Cricket Council (ICC) announced on Thursday that it will distribute equal prize money to...

Published 13 Jul, 2023 10:54pm

World

Ukraine NATO membership would worsen global tensions: Putin

MOSCOW: Russian President Vladimir Putin said Thursday that if Ukraine were to be admitted to NATO, it would make ...

Published 13 Jul, 2023 10:51pm

Pakistan

PM Shehbaz says govt to hand over country's affairs to caretaker setup in August

Premier hails efforts of COAS and Foreign Minister for securing funding from brotherly countries

Updated 13 Jul, 2023 10:44pm

South Asia

Floods force Indian capital to shut schools, offices, and plan water rationing

NEW DELHI: Flooding in parts of New Delhi forced the city government to close all education institutions in India’s...

Published 13 Jul, 2023 09:05pm

Forex

Rupee sees appreciation after IMF board’s nod, settles at 276.46 against US dollar

Gains 0.37% in inter-bank market

Updated 13 Jul, 2023 08:11pm

Pakistan

Sherry Rehman warns of urban flooding in Punjab as PMD predicts rains from today

PMD predicts rains will continue till July 17

Updated 13 Jul, 2023 08:01pm

Sports

Afghanistan’s Rashid ready to face Bangladesh in T20s

SYLHET: Afghanistan captain Rashid Khan said Thursday his team must keep up their momentum after their ODI series...

Published 13 Jul, 2023 07:55pm

South Asia

EU parliament alarmed by violence in India’s Manipur state

STRASBOURG: The EU parliament on Thursday urged India to end violence and protect minorities in the country’s...

Published 13 Jul, 2023 07:50pm

South Asia

Blinken tells China that US will hold hackers ‘accountable’

JAKARTA: US Secretary of State Antony Blinken told China’s top diplomat Thursday that Washington will hold hackers...

Published 13 Jul, 2023 07:46pm

Sports

Vondrousova downs Svitolina to reach Wimbledon final

LONDON: Marketa Vondrousova of the Czech Republic became the first unseeded player in 60 years to reach the...

Published 13 Jul, 2023 07:40pm

Forex

SBP-held foreign exchange reserves rise $61mn, stand at $4.52bn

Receipts from IMF, Saudi Arabia, UAE to be reflected in next week’s data

Published 13 Jul, 2023 07:21pm

Money & Banking

Turkish central bank’s net international reserves rise to $13.17bn

ISTANBUL: The Turkish central bank’s net international reserves rose more than $3 billion to $13.17 billion in the...

Published 13 Jul, 2023 06:36pm

Pakistan

Law Minister says 99% work completed on electoral reforms

Hopes agreed-upon proposal will be drafted by the next week

Updated 13 Jul, 2023 06:28pm

Europe

World Bank approves $450mn for SMEs in Turkiye’s earthquake-hit region

ANKARA: The World Bank has approved $450 million in financing for small and medium-sized enterprises in the region...

Published 13 Jul, 2023 06:28pm

Business & Economy

After SBA approval, this is how IMF projects Pakistan’s economy will perform in FY24

In contrast to the government’s targeted economic growth of 3.5%, the International Monetary Fund (IMF) has...

Updated 13 Jul, 2023 06:22pm

Energy

OPEC sees 2.2 pct oil demand growth in 2024 despite headwinds

LONDON: OPEC on Thursday raised its forecast for oil demand growth for 2023 and predicted only a slight slowdown in...

Published 13 Jul, 2023 06:13pm

Europe

UK food price inflation to be 9% in December, industry researcher cautions

LONDON: Food price inflation in Britain will decline through the balance of 2023 but will still be about 9% in...

Published 13 Jul, 2023 06:07pm

Stocks

Profit-taking erases gains, KSE-100 settles 0.54% lower

At close, benchmark index ends at 45,266.96

Updated 13 Jul, 2023 06:07pm

Literature

Satire and poetry: Milan Kundera took on life’s absurdity

PARIS: Milan Kundera, the author of ‘The Unbearable Lightness of Being’ whose dark, provocative novels delved into...

Published 13 Jul, 2023 06:03pm

Forex

IMF deposits $1.2bn in SBP: Ishaq Dar

During the week, Pakistan has received $4.2bn from different avenues including Saudi Arabia, UAE, and the Washington-based lender
SBA with IMF will now see two more reviews - in November and February

Updated 13 Jul, 2023 06:02pm

South Asia

Japan’s Kishida to visit Middle East to talk energy markets, offer green tech

TOKYO: Japanese Prime Minister Fumio Kishida plans to discuss energy markets on a trip to Saudi Arabia, United Arab...

Published 13 Jul, 2023 06:00pm

South Asia

South Korea’s Yoon says additional arms deal agreed with Poland

South Korean President Yoon Suk Yeol said he and his Polish counterpart had agreed at a summit in Warsaw on Thursday...

Published 13 Jul, 2023 05:53pm

South Asia

China’s top diplomat says China, Russia to strengthen strategic communication

BEIJING: China and Russia need to strengthen strategic communication and coordination, top Chinese diplomat Wang Yi...

Published 13 Jul, 2023 05:33pm

Europe

Russia attacks Kyiv for third night in a row, one killed in south Ukraine

KYIV: Russia attacked Kyiv for a third successive night, wounding four people, and an elderly woman was killed by...

Published 13 Jul, 2023 05:29pm

Europe

Huw Edwards: the face of the BBC who announced queen’s death

LONDON: Huw Edwards has been the reassuring face and voice of the BBC for decades, and was entrusted last year with...

Published 13 Jul, 2023 05:12pm

Money & Banking

ECB open to raising rates past July, account shows

FRANKFURT: The European Central Bank may need to continue raising interest rates beyond this month to bring...

Published 13 Jul, 2023 05:05pm

Energy

Brent oil hovers above $80 as U.S inflation eases

LONDON: Global oil benchmark Brent hovered above $80 a barrel on Thursday after U.S. inflation data implied interest...

Updated 13 Jul, 2023 05:02pm

Stocks

Indian shares rise as cooling US inflation powers IT stocks

BENGALURU: Indian shares edged higher on Thursday, aided by information technology (IT) stocks amid cooling...

Published 13 Jul, 2023 04:58pm

Stocks

Sri Lanka shares end marginally higher as energy, financials rise

BENGALURU: Sri Lankan shares closed marginally higher on Thursday, aided by gains in energy and financial...

Published 13 Jul, 2023 04:56pm

Commodities

Palm oil ends lower on higher global edible oils output forecast

KUALA LUMPUR: Malaysian palm oil futures ended lower on Thursday, weighed down by forecast of improving production...

Published 13 Jul, 2023 04:54pm

Business & Economy

World Bank board approves $100mn for ‘Punjab Family Planning Program’

Project aims to provide timely access to quality family planning services free of charge

Updated 13 Jul, 2023 04:48pm

South Asia

Indian capital faces drinking-water shortage as pumps flooded

NEW DELHI: Supplies of drinking water in the Indian capital will fall by a quarter on Thursday and Friday because...

Published 13 Jul, 2023 03:33pm

Stocks

Most Gulf markets gain as US inflation cools, Saudi index eases

Most major stock markets in the Gulf rose in early trade on Thursday after US inflation and economic data boosted...

Published 13 Jul, 2023 03:30pm

Pakistan

Haji Gulbar Khan elected Gilgit-Baltistan chief minister

He replaces Khalid Khurshid Khan

Published 13 Jul, 2023 02:55pm

Movies & Music

Hot Tour Summer sees Taylor, Beyonce eye $1bn mark

NEW YORK: It's a pop queen's world and we're just living in it: Industry watchers are speculating over whether Tay ...

Published 13 Jul, 2023 02:26pm

Stocks

European shares edge higher, but mixed data limit gains

European shares edged higher on Thursday as US inflation data fuelled hopes that the Federal Reserve was on the...

Published 13 Jul, 2023 02:03pm

South Asia

India gives initial nod to buy French Rafale jets, submarines

NEW DELHI: India’s defence ministry has given initial approval to purchase 26 Rafale fighter jets for its navy and...

Published 13 Jul, 2023 02:01pm

South Asia

G20 to discuss international debt architecture, more loans to developing nations

NEW DELHI: Global finance chiefs will meet in India next week to discuss increasing loans to developing nations from...

Published 13 Jul, 2023 01:55pm

Sports

FIFA to pay out $209 million to clubs

ZURICH: FIFA will pay out $209 million to clubs whose players competed at last year’s World Cup finals in Qatar,...

Published 13 Jul, 2023 01:52pm

Energy

IEA trims 2023 oil demand forecast on economic headwinds

LONDON: Oil demand is set to hit a record high this year but economic headwinds and interest rate hikes mean the...

Published 13 Jul, 2023 01:49pm

Movies & Music

‘Succession’ tops nominations for strike-threatened Emmys

LOS ANGELES: ‘Succession,’ the HBO drama about an ultra-wealthy family fighting for control of a sinister media...

Updated 13 Jul, 2023 01:46pm

Africa

At least 87 buried in mass grave in Sudan’s West Darfur: UN

GENEVA: At least 87 people including ethnic Masalits were buried in a mass grave in Sudan’s West Darfur, the UN...

Published 13 Jul, 2023 01:44pm

Pakistan

Islamabad ATC issues bailable arrest warrants for PTI chief in three cases

Cases pertain to violence outside the Federal Judicial Complex and the Islamabad High Court

Published 13 Jul, 2023 01:20pm

Asia

Blinken to meet top Chinese diplomat in Jakarta: US

JAKARTA: US Secretary of State Antony Blinken will meet top Chinese foreign policy official Wang Yi on Thursday in...

Published 13 Jul, 2023 01:12pm

Forex

Pakistan dollar bonds rally after IMF clears $3bn bailout

LONDON: Pakistan’s sovereign dollar bonds gained as much as 1.7 cents, Tradeweb data showed on Thursday, after the...

Published 13 Jul, 2023 01:08pm

Sports

Trinity Rodman: young World Cup star with dad’s taste for the hunt

LOS ANGELES: Trinity Rodman has made her own name on the football pitch but she’s taken something from her famous...

Published 13 Jul, 2023 01:04pm

Europe

Ukraine says downed 20 Russian drones, 2 cruise missiles

KYIV: Ukraine said Thursday it had downed 20 Russian attack drones and two cruise missiles in an overnight attack...

Published 13 Jul, 2023 12:58pm

Asia

North Korea’s Kim pictured with foldable smartphone at ICBM launch

SEOUL: When North Korean leader Kim Jong Un guided the launch of his country’s newest and most powerful ballistic...

Published 13 Jul, 2023 12:36pm

Europe

Russia says F-16 jets in Ukraine will be seen as ‘nuclear’ threat

MOSCOW: Russia will regard Western F-16 fighter jets sent to Ukraine as a “nuclear” threat because of their capacity...

Published 13 Jul, 2023 12:25pm

Technology

Google launches ChatGPT rival Bard in EU, Brazil

PARIS: Google announced Thursday that its AI chatbot Bard was now available in around 50 more countries, including...

Published 13 Jul, 2023 12:22pm

Commodities

Copper prices hit three-week high as dollar drops

Copper prices hit their highest in three weeks on Thursday as a sliding dollar made greenback-priced metals cheaper...

Published 13 Jul, 2023 12:07pm

South Asia

Nepal bans’non-essential’ flights by helicopters after deadly crash

KATHMANDU: Nepal’s aviation regulator has banned helicopters from conducting “non-essential” flights, including...

Published 13 Jul, 2023 12:05pm

Mutual Funds

JGB yields fall ahead of 20-year note auction

TOKYO: Japanese government bond (JGB) yields fell in early trade on Thursday, as investors tried to buy debt ahead...

Published 13 Jul, 2023 11:59am

Sports

Ashwin wrecks West Indies as India dominate opening day

India are on course for a significant first-innings lead after off-spinner Ravichandran Ashwin claimed 5-60 to...

Published 13 Jul, 2023 11:53am

Business & Finance

McDonald’s China owners Carlyle, Trustar plan $4bn exit: Bloomberg News

Carlyle Group Inc and Trustar Capital are planning to raise $4 billion from wealth funds to buy part of their stakes...

Published 13 Jul, 2023 11:45am

Sports

Australia to field World Cup line-up against France: coach

MELBOURNE: Australia coach Tony Gustavsson expects to field his Women’s World Cup line-up against France when the...

Published 13 Jul, 2023 11:40am

Commodities

Corn near 2-1/2-year low on higher US output forecast, soybeans rise

SINGAPORE: Chicago corn edged higher on Thursday, although gains were limited and the market traded close to its...

Published 13 Jul, 2023 11:34am

Technology

Tesla in talks with India to set up factory with up to 500,000 annual capacity

BENGALURU: Tesla has started discussions with the Indian government for an investment proposal to set up a car...

Published 13 Jul, 2023 11:10am

Energy

Saudi Arabia imports record Russian fuel oil in June as trade grows

SINGAPORE: Saudi Arabia imported record volumes of discounted Russian fuel oil in June, a near 10-fold annual...

Published 13 Jul, 2023 11:07am

Mutual Funds

Easing US inflation helps India bonds; local print caps gains

MUMBAI: Indian government bond yields tracked US peers lower on Thursday, with the benchmark bond yield hovering...

Published 13 Jul, 2023 11:03am

Stocks

Tech giants lead rise in China stocks after govt support signal

SHANGHAI: China and Hong Kong stocks jumped on Thursday, led by tech giants, after authorities sent another strong...

Published 13 Jul, 2023 10:59am

Forex

China’s yuan weakens amid disappointing trade data, but downside seen as limited

SHANGHAI: China’s yuan slipped slightly against the dollar on Thursday, as the country’s export growth surprised...

Published 13 Jul, 2023 10:48am

Asia

ASEAN struggles for unity on Myanmar conflict

JAKARTA: Southeast Asian countries struggling for unity on how to achieve peace in Myanmar were expected on Thursday...

Published 13 Jul, 2023 10:45am

Bullion Rate

Gold close to one-month high on hopes of Fed nearing end of rate hikes

Gold prices advanced to a near one-month high on Thursday supported by a softer US dollar, after US inflation data...

Published 13 Jul, 2023 10:38am

Commodities

China June soy imports up 25% on year after big purchases from Brazil

BEIJING: China imported 10.27 million metric tons of soybeans in June, up 24.5% from a year earlier, customs data...

Published 13 Jul, 2023 10:33am

22pc interest rate inimical to business activities: PM

ISLAMABAD: Prime Minister Shehbaz Sharif Wednesday acknowledged that with a 22 percent rate of interest, no business...

Updated 13 Jul, 2023 10:33am

Energy

China’s June crude imports soar 45.3% y/y as inventories build

BEIJING: China’s crude oil imports in June jumped 45.3% on the year to the second-highest monthly figure on record,...

Published 13 Jul, 2023 10:29am

Europe

Russian general dismissed after accusing top brass of failing soldiers

MOSCOW: A Russian general said he had been dismissed as a commander after telling the military leadership about the...

Published 13 Jul, 2023 10:26am

Business & Finance

China-Russia June trade value at highest since Ukraine war

BEIJING: China’s two-way trade with Russia rose in June to its highest level since the Ukraine war started, Chinese...

Published 13 Jul, 2023 10:23am

Commodities

Palm oil falls over 2% on higher global edible oils output forecast

KUALA LUMPUR: Malaysian palm oil futures extended early losses on Thursday, weighed down by forecast of improving...

Published 13 Jul, 2023 10:19am

BR Research

The rich and the resilient

Pricier cars becoming more uneconomical, mounting cost of borrowing at prevailing kibor rates close to 23 percent,...

Updated 13 Jul, 2023 10:11am

Stocks

Asian shares rally, dollar slides on bets Fed almost done hiking

SYDNEY: Asian shares and bonds rallied on Thursday while the dollar nursed heavy losses, as a surprisingly low...

Published 13 Jul, 2023 10:11am

World

Elon Musk launches AI firm xAI as he looks to take on OpenAI

Elon Musk, the billionaire entrepreneur, launched his long-teased artificial intelligence startup xAI on Wednesday,...

Published 13 Jul, 2023 10:06am

Expectedly, IMF board approves $3bn 9-mth SBA

The Board’s approval allows for immediate disbursement of about US$1.2 billion

Updated 13 Jul, 2023 10:05am

Commodities

China’s coal imports rise in June as heatwave boosts demand

SINGAPORE: China’s coal imports edged higher in June after dipping over the prior two months, customs data showed on...

Published 13 Jul, 2023 09:56am

Stocks

Indian shares open higher tracking Asian peers on cooling US inflation

BENGALURU: Indian shares opened higher on Thursday, tracking Asian peers after moderation in US inflation boosted...

Published 13 Jul, 2023 09:50am

Stocks

Commodity stocks push Australian stocks higher after US inflation data

Australian shares rose more than 1% on Thursday, led by a rally in commodity stocks, after US inflation data showed...

Published 13 Jul, 2023 09:48am

Stocks

Japan’s Nikkei tracks Wall Street higher on boost from chip-related stocks

TOKYO: Japan’s Nikkei share average rose on Thursday tracking Wall Street’s strong overnight finish, with...

Published 13 Jul, 2023 09:43am

Forex

Dollar takes a beating as traders see US rates peaking

SINGAPORE: A bruised dollar was nudged lower still in Asia on Thursday, as traders took surprisingly slow US...

Published 13 Jul, 2023 09:40am

Forex

Australia, NZ dollars rally as markets look ahead to US rate cuts

SYDNEY: The Australian and New Zealand dollars were celebrating their biggest rally in five months on Thursday as...

Published 13 Jul, 2023 09:37am

Country aims $1bn pharma exports by 2025, says Qamar

ISLAMABAD: Federal Minister of Commerce Syed Naveed Qamar said Wednesday that Pakistan’s objective is to increase...

Updated 13 Jul, 2023 09:35am

Ministries, Divisions: Direct payment through SBP linked to prior approval

ISLAMABAD: Finance Division has barred all Ministries/ Divisions from direct payment through State Bank of Pakistan...

Updated 13 Jul, 2023 09:32am

Investments: PM directs finance managers to frame modalities

ISLAMABAD: Prime Minister Shehbaz Sharif has directed Finance Minister Ishaq Dar and Finance Secretary Imdad Ullah...

Updated 13 Jul, 2023 09:30am

Tied to managing circular debt: Impact of power tariff rebasing not assessed as yet: govt

ISLAMABAD: Minister for Power Khurram Dastgir Khan on Wednesday said exact impact of rebasing of electricity tariff...

Updated 13 Jul, 2023 09:24am

Airport outsourcing: Dar seeks roadmap

ISLAMABAD: Finance Minister Ishaq Dar emphasized receiving a roadmap with timelines for moving forward on a...

Updated 13 Jul, 2023 09:17am

Business & Finance

Govt negotiating second cargo of discounted Russian crude

ISLAMABAD: The State Minister for Petroleum, Dr Musadik Malik, on Wednesday said that talks with Russia are...

Updated 13 Jul, 2023 09:11am

Cases of overseas Pakistanis: FTO issues guiding policy to FBR

ISLAMABAD: The Federal Tax Ombudsman (FTO) has warned the Federal Board of Revenue (FBR) that the harsh treatment of...

Updated 13 Jul, 2023 09:06am

SPV21 files plea in Cayman Islands’ court for KESP winding up

ISLAMABAD: IGCF SPV 21 Limited (SPV21) filed a petition in the Grand Court of the Cayman Islands for a Just &...

Updated 13 Jul, 2023 09:01am

UAE deposits $1bn to support forex reserves

ISLAMABAD: Pakistan has received deposits of $1 billion from the United Arab Emirates (UAE), Finance Minister Ishaq...

Updated 13 Jul, 2023 08:52am

BR’s refresher: your morning briefing for the day

Important updates from July 12, 2023

Published 13 Jul, 2023 08:48am

BR Research

Oil prices - a rally coming soon?

The global crude oil price had been stuck near $75 since May this year. After resisting the prevailing pessimism for...

Published 13 Jul, 2023 08:09am

BR Research

Roshan Packages Limited

Roshan Packages Limited (PSX: RPL) was incorporated in Pakistan as a private limited company in 2002 and was...

Published 13 Jul, 2023 08:06am

Opinion

Setting the record straight

In FY23, textile exports plunged by $2.8 billion (15% decline) compared to FY22, derailing positive developments...

Updated 13 Jul, 2023 05:25am

Opinion

The BRICS’s creeping ‘gold currency’

It’s a shame that market pundits have been busy scandalising JP Morgan’s involvement with the late, notorious ...

Updated 13 Jul, 2023 05:15am

Editorials

Import payments and dollar reserves

EDITORIAL: The secretary, Ministry of Industries and Production, while testifying before the relevant Senate ...

Updated 13 Jul, 2023 05:11am

Industry

Problems to be addressed on a priority basis, businessmen told

FAISALABAD: Problems confronted by the business community would be resolved on top priority basis and in this...