News Archives for Latest - 2023-07-14

World

Ukraine's Zelenskiy: Russia exerting maximum efforts to stop our soldiers in east, south

President Volodymyr Zelenskiy said on Friday that Ukrainians must understand that Russia was deploying all possible...

Published 14 Jul, 2023 11:38pm

Europe

Wagner troops training Belarus forces

MOSCOW: Belarus said Friday that instructors from the Russian mercenary force Wagner were training its troops,...

Published 14 Jul, 2023 11:12pm

Pakistan

PML-N will field candidates in all Punjab constituencies: Rana Sanaullah

Says there is a possibility of seat adjustment in some constituencies

Updated 14 Jul, 2023 11:11pm

Interest Rates

Monetary Policy Committee: SBP issues advance calendar for meetings in July-December

Schedules 4 huddles during six-month period, with the first one of the new fiscal year on July 31

Published 14 Jul, 2023 10:42pm

Pakistan

Pakistan Army expresses ‘serious concerns over TTP’s safe haven in Afghanistan’

ISPR says involvement of Afghan nationals in acts of terrorism in Pakistan is another important concern that needs to be addressed

Updated 14 Jul, 2023 10:31pm

Cricket

Bangladesh beat Afghanistan despite Janat hat-trick

SYLHET: Afghanistan's Karim Janat grabbed a hat-trick in the final over but Bangladesh held their nerve to sneak a...

Updated 14 Jul, 2023 10:29pm

Stocks

European shares close best week in over three months on US disinflation hopes

European shares edged slightly lower on Friday, but that did little to change their biggest weekly percentage jump...

Published 14 Jul, 2023 10:06pm

Stocks

FTSE 100 closes lower at the end of best week in three months

Britain’s FTSE 100 edged lower on Friday as a drop in oil stocks outweighed gains in industrials, while the index...

Published 14 Jul, 2023 10:02pm

Energy

Oil prices drop on profit-taking, still headed for weekly gain

BENGALURU: Oil prices fell more than a dollar a barrel on Friday as the dollar strengthened and oil traders booked...

Updated 14 Jul, 2023 09:14pm

Energy

Pakistan LNG gets bids from Trafigura for Jan, Feb cargoes

Pakistan LNG Ltd (PLL) received a bid from commodities trader Trafigura at $23.47 per million British thermal units...

Updated 14 Jul, 2023 09:00pm

Business & Economy

After Saudi Arabia and UAE deposits, Pakistan expects another $2.6bn in financing: report

Pakistan will draw $5.6 billion in financing, Bloomberg News reported on Friday, an amount that includes inflows...

Updated 14 Jul, 2023 09:00pm

Forex

IMF delves into reasons behind ‘shorter’ programme with Pakistan

Nine-month Stand-By Arrangement provides time to implement policies critical to strengthening Pakistan's economic situation, says IMF’s Director of Strategic Communications Julie Kozack

Updated 14 Jul, 2023 08:59pm

Money & Banking

Citigroup profit drops 36% on trading slump, rising expenses

Citigroup beat analysts’ estimates for second-quarter profit on Friday as higher interest payments from borrowers...

Published 14 Jul, 2023 08:43pm

South Asia

Indian rupee, UAE dirham trade mechanism may launch during Modi visit Saturday

NEW DELHI: India and the United Arab Emirates may announce the start of a rupee-dirham payment mechanism to settle...

Published 14 Jul, 2023 08:40pm

Stocks

KSE-100 ends week on a negative note

Volume and value of shares traded decline from previous session

Updated 14 Jul, 2023 08:06pm

USA

Blinken says Lavrov ‘not constructive’ in Southeast Asian talks

JAKARTA: US Secretary of State Antony Blinken said Friday that his Russian counterpart Sergei Lavrov offered only a...

Published 14 Jul, 2023 07:54pm

Europe

Erdogan says he is in agreement with Putin that grain deal should be extended

ISTANBUL: Turkish President Tayyip Erdogan said on Friday that he is in agreement with Russian President Vladimir...

Published 14 Jul, 2023 07:44pm

Stocks

Wall St eyes higher open after strong JPMorgan, Wells Fargo earnings

Wall Street was set to open higher on Friday after three of the country’s top lenders including JPMorgan Chase and...

Published 14 Jul, 2023 07:42pm

Commodities

Asia Gold: India at discount as high prices dent retail demand

Indian dealers offered discounts on physical gold purchases for a third straight week as higher domestic prices...

Published 14 Jul, 2023 07:25pm

Europe

Ukraine posts trade deficit of $8.97bn in Jan-May

KYIV: Ukraine’s trade deficit grew to $8.97 billion in the first five months of the year compared with a deficit of...

Published 14 Jul, 2023 07:14pm

South Asia

South Korea asks China to play ‘constructive role’ against North’s threats

SEOUL: South Korea’s Foreign Minister Park Jin on Friday called on China to play a “constructive role” in curbing...

Published 14 Jul, 2023 06:57pm

Forex

Rupee falters, settles at 277.59 against US dollar

Currency falls 0.41% in inter-bank market

Updated 14 Jul, 2023 06:54pm

Money & Banking

India’s forex reserves rise to near two-month high

MUMBAI: India’s foreign exchange reserves rose for a second straight week and stood at $596.28 billion as of July 7,...

Published 14 Jul, 2023 06:46pm

Movies & Music

Hollywood shuts down as actors go on strike

LOS ANGELES: Tens of thousands of Hollywood actors will go on strike at midnight Thursday, effectively bringing the...

Published 14 Jul, 2023 06:02pm

South Asia

Blinken: US, allies to ‘defend against any aggression’ from North Korea

JAKARTA: Secretary of State Antony Blinken promised Friday that the United States would work with allies to deter...

Published 14 Jul, 2023 05:46pm

Energy

Indian refiners used yuan to pay for some Russian oil imports

NEW DELHI: Indian refiners have settled some payments for Russian oil imports in Chinese yuan, but the U.S. dollar...

Published 14 Jul, 2023 05:38pm

Energy

Russia sets plans for oil export cuts in August

MOSCOW: Russian oil exports from western ports are set to fall by some 100,000-200,000 barrels per day next month...

Published 14 Jul, 2023 05:33pm

Money & Banking

JPMorgan profit jumps on higher interest income as First Republic lifts earnings

JPMorgan Chase posted a 67% jump in profit for the second quarter on Friday as it earned more from borrowers’...

Published 14 Jul, 2023 05:24pm

Money & Banking

Wells Fargo profit surges 57% as interest payments climb

Wells Fargo’s profit surged 57% in the second quarter as it earned more from customer interest payments and raised...

Published 14 Jul, 2023 05:13pm

Energy

Global LNG: Asia spot LNG prices slip on muted demand, high EU stocks

LONDON: Asian spot liquefied natural gas (LNG) prices fell this week, as muted demand in Northeast Asia and high gas...

Published 14 Jul, 2023 05:07pm

Stocks

Indian shares hit record highs on Fed rate pause hopes

BENGALURU: Indian shares hit record highs in the last few minutes of trading on Friday to notch a third straight...

Published 14 Jul, 2023 05:04pm

Stocks

Sri Lanka shares end higher as industrials, financials rise

BENGALURU: Sri Lankan shares closed higher on Friday, aided by a gain in industrials and financials stocks. The CSE...

Published 14 Jul, 2023 05:02pm

Commodities

Palm oil extends weekly gains on rival oil strength, bargain-buying

SINGAPORE: Malaysian palm oil futures ended with a modest recovery on Friday and logged a third consecutive weekly...

Published 14 Jul, 2023 04:59pm

Stocks

Hong Kong stocks finish week with gain

HONG KONG: Hong Kong stocks completed a full week of gains on Friday, as traders bet the Federal Reserve is close to...

Published 14 Jul, 2023 04:13pm

Sports

Pakistan’s Shaheen seeks Test landmark against Sri Lanka

GALLE: Pakistan strike bowler Shaheen Shah Afridi will seek to take his 100th Test wicket in the first Test against...

Published 14 Jul, 2023 04:09pm

Movies & Music

Worried about obscenity, India asks streamers for content checks

NEW DELHI: India has told Netflix, Disney and other streaming services that their content should be independently...

Updated 14 Jul, 2023 04:02pm

Technology

India launches rocket to land spacecraft on moon’s south pole

BENGALURU: India’s space agency launched a rocket on Friday that will attempt to land a spacecraft at the lunar...

Published 14 Jul, 2023 03:15pm

Pakistan

PM Shehbaz breaks ground on 1,200MW Chashma-5 nuclear power plant

Last month, China and Pakistan signed MoU for power project worth $3.48 billion

Updated 14 Jul, 2023 02:55pm

Business & Finance

India’s June trade deficit in line with expectations

NEW DELHI: India’s merchandise trade deficit in June was in line with expectations at $20.13 billion, according to a...

Published 14 Jul, 2023 02:52pm

Luxury

Italy’s luxury groups set aside rivalries to keep it local

MILAN: Italy’s luxury fashion groups, which for decades jealously guarded their independence, have started teaming...

Published 14 Jul, 2023 02:30pm

Commodities

India’s June palm oil imports rise 56% m/m

India’s palm oil imports in June rose about 56% from the previous month to 683,133 metric tons, a trade body said on...

Published 14 Jul, 2023 02:07pm

Europe

Ukraine’s spymaster comes out of the shadows

KYIV: He wears a pistol to interviews with foreign journalists and discusses wartime intelligence. Weapons and...

Published 14 Jul, 2023 02:00pm

South Asia

Transport disrupted in India’s capital after river floods key sites

NEW DELHI: Transport was disrupted on Friday in several areas of India’s capital after water from the swollen Yamuna...

Published 14 Jul, 2023 01:49pm

Forex

Kenyan shilling flat, still at all-time low against dollar

The Kenyan shilling was flat on Friday, staying at the record low against the dollar it struck a day earlier on...

Published 14 Jul, 2023 01:45pm

Stocks

European shares eye best week in over three months on disinflation hopes

European shares were muted on Friday, but remained on course to log their biggest weekly percentage jump in over...

Published 14 Jul, 2023 01:42pm

Sports

PGA Tour, LIV backers drop no-poaching clause from deal

MIAMI: The PGA Tour and the Saudi Public Investment Fund have dropped a provision from their framework agreement...

Published 14 Jul, 2023 01:38pm

Pakistan

May 9 violence: PTI chief to appear before JIT today

JIT summons Imran Khan to appear before it at 4:00pm

Published 14 Jul, 2023 01:03pm

Asia

Wang tells Blinken to ‘work with China’ on improving US ties

BEIJING: Beijing’s top diplomat Wang Yi has urged Washington to “work with China” to improve ties during a meeting...

Published 14 Jul, 2023 12:22pm

Europe

Wagner not participating in Ukraine fighting in any significant way: Pentagon

WASHINGTON: Wagner mercenaries are no longer participating in “any significant capacity” in combat operations in...

Published 14 Jul, 2023 12:27pm

South Asia

‘Like hell’: India’s burning coalfields

DHANBAD: Deadly fires have raged for a century in mines in India’s Jharkhand state, where Savitri Mahto is one of...

Published 14 Jul, 2023 12:18pm

Asia

Indonesian president warns ASEAN ‘can’t be proxy’ of any country

JAKARTA: Indonesian President Joko Widodo on Friday said ASEAN cannot become a proxy for other countries, as...

Published 14 Jul, 2023 11:49am

Sports

USA’s new Major League Cricket makes big hitting start

DALLAS: Major League Cricket got underway in Texas on Thursday, and the most serious attempt yet to establish a...

Published 14 Jul, 2023 11:43am

Sports

Moyes says West Ham ‘can’t plan anything’ as Rice move drags on

PERTH: Frustrated West Ham coach David Moyes has lamented Declan Rice’s drawn-out move to Arsenal, saying Friday he...

Published 14 Jul, 2023 11:36am

Sports

Football: Women’s World Cup Group F

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

Published 14 Jul, 2023 11:33am

Sports

‘Against their nature’: When Brazil banned women from football

SAO PAULO: Dilma Mendes does not remember how many times she was arrested as a child. Her crime? Playing football in...

Published 14 Jul, 2023 11:27am

UN chief helped Pakistan secure IMF deal

ISLAMABAD: The United Nations Secretary General Antonio Manuel de Oliveira Guterres, played a key role in the...

Updated 14 Jul, 2023 11:16am

Stocks

Asia stocks set for best week of 2023, dollar reels on dovish Fed bets

TOKYO: Asian stocks rose on Friday, on course for their best week this year, as a cooling in US inflation stoked...

Published 14 Jul, 2023 11:05am

Companies

Nissan to invest some $725mn in Renault’s EV unit, Yomiuri says

TOKYO: Nissan Motor is likely to invest around 100 billion yen ($725 million) in Renault’s new electric vehicle...

Published 14 Jul, 2023 11:01am

BR Research

Looking up!

The news flow is positive this week. The financial commitments from Saudi Arabia ($2 bn) and UAE ($1 bn) have poured...

Updated 14 Jul, 2023 10:53am

Mutual Funds

India bond yields may ease more tracking US peers, debt sale eyed

MUMBAI: Indian government bond yields are likely to ease further in the early session on Friday, tracking the slide...

Published 14 Jul, 2023 10:41am

Mutual Funds

Japan’s 10-year yield at over 4-month high on hawkish BOJ bets

TOKYO: Japan’s 10-year government bond yield scaled its highest in 4-1/2 months on Friday amid speculation that the...

Published 14 Jul, 2023 10:38am

Forex

Indian rupee to rise tracking further dollar losses on Fed outlook

MUMBAI: The Indian rupee is expected to open higher on Friday as the US dollar slid even further on bets that the...

Published 14 Jul, 2023 10:35am

Asia

G7 finance chiefs to meet July 16, will discuss Ukraine, global taxation

Financial leaders from the Group of Seven (G7) advanced countries will hold talks on July 16 on the sidelines of the...

Published 14 Jul, 2023 10:29am

Commodities

Soybeans set for biggest weekly gain in one month on US weather woes

SINGAPORE: Chicago soybean futures gained more ground on Friday with the market poised for its biggest weekly gain...

Published 14 Jul, 2023 10:23am

Energy

Qatar Energy hikes September al-Shaheen oil term price

SINGAPORE: Qatar Energy raised the term price for cargoes of al-Shaheen crude oil loading in September, trade...

Published 14 Jul, 2023 10:20am

Forex

Australia, NZ dollars head for best week this year as US dollar buckles

SYDNEY: The Australian and New Zealand dollars were heading for their best week of the year on Friday as investors...

Published 14 Jul, 2023 10:11am

Stocks

Australian shares rise on mining, tech boost; new RBA governor appointed

Australian shares rose on Friday, buoyed by miners and tech stocks as US data suggested a cooling inflationary...

Published 14 Jul, 2023 10:06am

Caretaker setup will be in place next month: IMF SBA to PM represents greater cause for rejoicing

PM says his coalition government successfully managed to put the country in the right direction in the shortest period despite challenges

Updated 14 Jul, 2023 10:04am

Stocks

Japan’s Nikkei eases off session highs on earnings, BOJ worries

TOKYO: Japan’s Nikkei share average rose on Friday, led by chip-related stocks, but surrendered most of its early...

Published 14 Jul, 2023 10:02am

C-5 project: PAEC’s point of view

ISLAMABAD: This is apropos a news report “$5bn Chashma-5 N-Plant to produce power at Rs 20 per unit: Country has...

Updated 14 Jul, 2023 10:02am

PSDP: FD yet to notify strategy for release of funds

ISLAMABAD: Finance Division is yet to notify strategy for release of funds with regard to PSDP, interest payment,...

Updated 14 Jul, 2023 10:00am

Forex

Dollar at 15-month low as easing inflation firms rate peak bets

SINGAPORE: The dollar hovered at 15-month lows on Friday after a steep dive overnight, as markets wagered the...

Published 14 Jul, 2023 09:57am

Bullion Rate

Gold prices set for best week since April on weaker dollar

Gold prices were set on Friday for their biggest weekly gain since April, after rallying close to a one-month high,...

Published 14 Jul, 2023 09:51am

Stocks

Indian shares rise on Fed rate pause hopes

BENGALURU: Indian shares advanced on Friday, extending gains from the previous session, riding on broader positive...

Published 14 Jul, 2023 09:48am

Commodities

Malaysia keeps August crude palm oil export duty at 8.0%

KUALA LUMPUR: Malaysia has maintained its August export tax for crude palm oil at 8% and raised its reference price,...

Published 14 Jul, 2023 09:46am

Europe

UN agency calls for debt pause option as poverty rates rise

GENEVA/LONDON: A United Nations agency urged global finance ministers to give poor countries debt repayment breaks,...

Published 14 Jul, 2023 09:44am

Companies

HK’s Cathay Pacific expects up to $576mn profit in first-half

Hong Kong’s Cathay Pacific Airways on Friday said it expects to record half-year profit attributable of up to HK$4.5...

Published 14 Jul, 2023 09:37am

Financial

China central bank to use tools such as RRR to tackle economic woes

BEIJING: China’s central bank will use policy tools such as the reserve requirement ratio (RRR) and medium-term...

Published 14 Jul, 2023 09:34am

Asia

Malaysian PM Anwar says welcomes Musk’s interest, Tesla investment

KUALA LUMPUR: Malaysian Prime Minister Anwar Ibrahim said on Friday that he welcomed Elon Musk’s interest and...

Published 14 Jul, 2023 09:32am

World

Saudi crown prince invited to visit UK later this year

The British government has invited Saudi Crown Prince Mohammed bin Salman to London with the visit expected to take...

Published 14 Jul, 2023 09:29am

Steps to broaden tax base: FY24 budget advances primary surplus of 0.4pc of GDP: IMF

ISLAMABAD: The fiscal year 2024 budget advances a primary surplus of around 0.4 percent of GDP by taking some steps...

Updated 14 Jul, 2023 09:27am

First tranche of SBA: IMF transfers $1.2bn to SBP account: Dar

ISLAMABAD: The International Monetary Fund (IMF) has transferred $1.2 billion to the State Bank of Pakistan (SBP) —...

Updated 14 Jul, 2023 09:14am

July-May LSMI output declines 9.87pc YoY

ISLAMABAD: The Large Scale Manufacturing Industries (LSMI) output has declined by 9.87 percent during July-May...

Updated 14 Jul, 2023 09:11am

Beverage sector: FBR kicks off process of implementing T&T system

ISLAMABAD: The Federal Board of Revenue has started the process of implementing the Track and Trace (T&T) system...

Updated 14 Jul, 2023 09:03am

October system collapse: Non-implementation of recommendations irks Nepra

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has expressed reservations against National...

Updated 14 Jul, 2023 08:56am

Companies profits bill approved by NA panel

ISLAMABAD: The National Assembly Standing Committee on Overseas Pakistanis and Human Resources Development on...

Updated 14 Jul, 2023 08:51am

Airports’ outsourcing: Only management controls being given, NA panel told

ISLAMABAD: The government of Pakistan has initiated a process to outsource the operations and management at Karachi,...

Updated 14 Jul, 2023 08:49am

BR’s refresher: your morning briefing for the day

Important updates from July 13, 2023

Published 14 Jul, 2023 08:45am

BR Research

Gas tariff revision: Never enough!

Another round of revision in natural gas prices stares at the consumers for the second time in 2023. The...

Published 14 Jul, 2023 08:12am

BR Research

Towellers Limited

Towellers Limited (PSX: TOWL) was incorporated in Pakistan as a private limited company in 1973 and was converted...

Published 14 Jul, 2023 08:10am

Business & Finance

IMF sees ‘pockets of resilience,’ slowing momentum in global economy

WASHINGTON: The International Monetary Fund said on Thursday that first quarter global growth slightly outpaced...

Updated 14 Jul, 2023 07:05am

Opinion

Improving foreign investment climate

‘After a steep drop in 2020 and a strong rebound in 2021, global foreign direct investment (FDI) declined by 12 per...

Published 14 Jul, 2023 06:55am

Opinion

We need to start living within our means

Some day our cheerfulness in adversity will come to colour. Pakistan has been a member of the International Monetary...

Updated 14 Jul, 2023 06:59am

Opinion

Tax targets versus tax gap—I

“…the FBR’s revenue target has been increased to Rs 9,415 billion, requiring a 31% increase over collection of...

Updated 14 Jul, 2023 06:47am

Editorials

Violent conflict in Kurram

EDITORIAL: Mercifully, the Kurram warring tribes have reportedly agreed to cease hostilities for a year. The area ...

Published 14 Jul, 2023 06:41am

Editorials

IMF SBA, finally

EDITORIAL: The International Monetary Fund (IMF) board approved the 3 billion dollar Stand-By Arrangement (SBA) to...

Published 14 Jul, 2023 06:38am

Opinion

PARTLY FACETIOUS: Lies, damned lies and statistics

“You heard the quote - there are lies, lies and then there are statistics.” “Hey I am not Nawaz Sharif who ...