News Archives for Latest - 2023-07-17

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Archive - 2023-07-17

World

US President Biden invites Israeli prime minister to Washington

JERUSALEM: US President Joe Biden has invited Israeli Prime Minister Benjamin Netanyhau to Washington for an ...

Published 17 Jul, 2023 11:57pm

World

Putin: Russian Defence Ministry preparing response to bridge attack

Russian President Vladimir Putin said on Monday his defence ministry was preparing proposals for a response to an...

Updated 17 Jul, 2023 11:18pm

Europe

UN verifies 48.8C in Sicily 2021 as European heat record

GENEVA: The UN announced Monday that the 48.8C recorded on the Italian island of Sicily in 2021 had been verified as...

Published 17 Jul, 2023 10:34pm

Pakistan

Army's top brass vows to support govt’s 'strategic initiatives' for economic revival

Forum expresses serious reservations about the presence of sanctuaries and liberty of action available to the terrorists in the neighboring country

Updated 17 Jul, 2023 10:17pm

Financial

World economy in a difficult place but not destined to stay there

GANDHINAGAR: The world economy is in a difficult place but it is not destined to stay there, World Bank President...

Updated 17 Jul, 2023 09:02pm

Europe

Germany’s Scholz: Russia suspending grain deal sends bad message

BERLIN: German Chancellor Olaf Scholz said on Monday that Russia’s refusal to extend the agreement that has enabled...

Published 17 Jul, 2023 08:57pm

Stocks

US stocks little changed as market awaits big earnings

NEW YORK: Wall Street stocks were stable early Monday, holding on to recent gains to open a week that includes...

Published 17 Jul, 2023 08:38pm

Real Estate

China property giant Evergrande reports $96 billion loss for 2021

BEIJING: Chinese property giant Evergrande reported Monday a $96 billion net loss for 2021 and nearly $335 billion...

Published 17 Jul, 2023 08:36pm

Commodities

Raw sugar falls as market consolidates; cocoa gains

LONDON: Raw sugar futures on the ICE exchange fell on Monday as the market consolidated recent gains linked to...

Published 17 Jul, 2023 07:03pm

Business & Finance

India’s fight against inflation far from over

MUMBAI: Food price spikes in India, typical at the onset of the monsoon, drove up headline inflation in June,...

Published 17 Jul, 2023 06:51pm

Stocks

S&P 500, Nasdaq start week higher as investors await more results

The S&P 500 and the Nasdaq inched higher on Monday after last week’s strong gains, with investors cautious ahead...

Published 17 Jul, 2023 06:48pm

Pakistan

'PTI Parliamentarians': Pervez Khattak officially launches new political party

Former KP chief minister Mahmood Khan, ex-MNA Shaukat Ali, and former environment minister Syed Muhammad Ishtiaq Urmar are among those who have joined PTI-P

Published 17 Jul, 2023 06:29pm

Middle East

Turkiye Erdogan begins Gulf tour with trip to Saudi

RIYADH: Turkish President Recep Tayyip Erdogan arrives on Monday in Saudi Arabia during a three-country Gulf tour as...

Published 17 Jul, 2023 06:32pm

Forex

Rupee sees back-to-back losses, settles at 279.26 against US dollar

Currency depreciates 0.6% in inter-bank market

Updated 17 Jul, 2023 06:31pm

Pakistan

PM Shehbaz expresses gratitude to Sri Lankan president for support in IMF deal

In phone call with Ranil Wickremesinghe, PM Shehbaz acknowledges role played by Sri Lanka as a friend and a well-wisher of Pakistan

Updated 17 Jul, 2023 06:29pm

Pakistan

Govt says military trial of civilians 'appropriate' response to May 9 violence

Says attacks on sensitive installations indicated a 'premeditated and intentional attempt to undermine country’s armed forces'

Published 17 Jul, 2023 06:06pm

Cricket

Shakeel, Saud help Pakistan counter Sri Lanka’s spin

GALLE: An unbeaten century stand between Saud Shakeel and Agha Salman rescued Pakistan from a precarious 101-5 on...

Updated 17 Jul, 2023 06:13pm

Business & Economy

Illegal loan apps: govt bans dozens as crackdown finally begins

After several reports, the government’s Ministry of IT and Telecom has finally decided to take action against...

Updated 17 Jul, 2023 06:06pm

Forex

Asian FX, stocks fall as China data fails to lift markets, yuan drags

The Malaysian ringgit led losses among Asian currencies and share markets on Monday, as lacklustre Chinese economic...

Updated 17 Jul, 2023 06:06pm

Stocks

KSE-100 ends marginally lower after range-bound session

Benchmark index settles at 45,042.61

Published 17 Jul, 2023 06:00pm

Sports

Son says he would rather play for Spurs than move to Saudi club

Tottenham Hotspur forward Son Heung-min said he would have moved to Saudi Arabia to continue his career if he wanted...

Published 17 Jul, 2023 06:03pm

Sports

Alcaraz needs new rivals for a new era

LONDON: Novak Djokovic was still trying to digest the loss of his Wimbledon crown to Carlos Alcaraz when one...

Published 17 Jul, 2023 05:59pm

Energy

Oil slides more than 1% as Chinese GDP dents demand hopes

LONDON: Oil dropped by more than 1% on Monday after weaker than expected Chinese economic growth fuelled concern...

Updated 17 Jul, 2023 05:56pm

Movies & Music

Malala Yousafzai, Daniel Craig, Priyanka Chopra spotted at Wimbledon

Wimbledon 2023 ended on Sunday with Carlos Alcaraz beating reigning champion Novak Djokovic in a five-set thriller,...

Published 17 Jul, 2023 05:53pm

Forex

Dollar hovers around 15-month low ahead of Fed, ECB meetings

LONDON/SYDNEY: The dollar edged lower on Monday against a basket of currencies after suffering its biggest weekly...

Updated 17 Jul, 2023 05:50pm

Business & Finance

German economy may contract slightly in 2023: IMF

BERLIN: Germany’s economic output may shrink slightly this year due to the energy price shock and tightening...

Published 17 Jul, 2023 05:46pm

Middle East

At least eight killed in building collapse in Cairo

CAIRO: At least eight people were killed on Monday when a five-storey building in the Egyptian capital Cairo...

Published 17 Jul, 2023 05:43pm

Asia

China reports record temperature for mid-July at 52.2C

BEIJING: China on Monday said the mercury hit 52.2 degrees Celsius (126 degrees Fahrenheit) in the northwest of the...

Updated 17 Jul, 2023 05:41pm

Life & Style

London exhibition spotlights migrant business owners

LONDON: From the co-founder of retail giant Marks & Spencer to the owners of a family-run Chinese takeaway, a...

Published 17 Jul, 2023 05:40pm

Asia

North Korea’s Kim Yo Jong warns US against ‘foolish act’ that risks security

SEOUL: North Korea’s Kim Yo Jong, sister of leader Kim Jong Un, said on Monday that the United States should avoid...

Published 17 Jul, 2023 05:39pm

Commodities

Copper wilts on demand fears after soft Chinese data

LONDON: Copper prices retreated on Monday after feeble economic data from top metals consumer China kept a lid on...

Updated 17 Jul, 2023 05:35pm

Europe

UK sanctions Russians over ‘deportation of Ukraine children’

LONDON: The UK on Monday announced new sanctions in response to “Russia’s attempts to destroy Ukrainian national...

Published 17 Jul, 2023 05:30pm

Technology

Norway threatens $100,000 daily fine on Meta over data

OSLO: Norway’s data protection agency said Monday it would ban Facebook and Instagram owner Meta from using the...

Published 17 Jul, 2023 05:27pm

Middle East

Japan PM in UAE to pitch green technology ahead of COP28

DUBAI: Japanese Prime Minister Fumio Kishida arrived in the UAE on Monday to discuss cooperation on clean hydrogen,...

Published 17 Jul, 2023 05:25pm

Europe

Scorching heatwaves set to break records around the globe

ROME: Unforgiving heat scorched parts of the Northern Hemisphere on Monday, triggering health warnings and fanning...

Published 17 Jul, 2023 05:22pm

Europe

EU holds Latin America summit amid rifts over trade and Ukraine

BRUSSELS: The European Union hosts Latin American and Caribbean leaders Monday hoping to soothe ties strained by...

Published 17 Jul, 2023 05:03pm

Europe

Turkish, Russian foreign ministers to discuss grain deal, Erdogan says

ISTANBUL: The Turkish and Russian foreign ministers will discuss the Black Sea grain deal on Monday, President...

Published 17 Jul, 2023 04:11pm

Cricket

Anderson recalled by England for fourth Ashes Test

MANCHESTER: England have recalled 40-year-old James Anderson for the fourth Ashes Test against Australia, which...

Published 17 Jul, 2023 04:06pm

Europe

Sweden pledges over $500 million to rebuild Ukraine

STOCKHOLM: Sweden’s government on Monday announced it was pledging six billion kronor ($586 million) in aid to...

Published 17 Jul, 2023 04:05pm

Companies

Tesla discounts set to power quarterly revenue growth, hit profit

Tesla’s strategy to boost sales through price cuts is likely to have powered its strongest revenue growth in five...

Published 17 Jul, 2023 03:57pm

Asia

Morgan Stanley cuts China’s 2023 and 2024 growth forecasts

LONDON: Morgan Stanley revised down its China 2023 economic growth forecast by 0.7 percentage points to 5% on Monday...

Published 17 Jul, 2023 03:54pm

South Asia

India planning $1.5bn industrial water transport corridor in east: sources

NEW DELHI: Coal India Ltd, a government-owned port, and a state waterways body, are together considering investing...

Published 17 Jul, 2023 03:51pm

Business & Finance

Kremlin says Black Sea grain deal has ‘de facto ended’

MOSCOW: The Kremlin said Monday that the Ukraine grain deal had “de facto ended” hours before it was due to expire,...

Published 17 Jul, 2023 03:28pm

Perspectives

Wimbledon 2023: new era, but the same charm?

So here we are. Another season on the grass courts is over. One that seemingly made up for all the lost splendor,...

Updated 17 Jul, 2023 03:22pm

Pakistan

Parvez Elahi detained for 30 days under MPO

PTI president will be held in custody at Camp Jail Lahore

Updated 17 Jul, 2023 02:54pm

Commodities

PRL, Air Link look to acquire majority stake, control of Shell Pakistan

Next Capital, manager to the offer, submits public announcement of intention

Updated 17 Jul, 2023 02:52pm

Stocks

UK’s FTSE 100 falls as weak China data hits commodity stocks

UK’s FTSE 100 slipped on Monday, with mining stocks leading declines after weak economic data from top commodities...

Published 17 Jul, 2023 02:33pm

Stocks

European shares slip as Richemont, tepid China data drag

European shares fell on Monday as luxury group Richemont slumped on weaker-than-expected organic sales growth and...

Published 17 Jul, 2023 02:20pm

Stocks

Major Gulf bourse in red on falling oil prices

Major stock markets in the Gulf were subdued in early trade on Monday tracking oil prices lower, with the Dubai...

Published 17 Jul, 2023 02:17pm

Cricket

Australia’s Khawaja lobbied ICC to reduce slow over-rate sanctions

MANCHESTER: Australia opener Usman Khawaja said on Monday he had approached the International Cricket Council (ICC)...

Published 17 Jul, 2023 02:15pm

Asia

South Korea flood death toll rises to 40, Yoon blames botched responses

SEOUL: South Korean President Yoon Suk Yeol on Monday blamed authorities’ failure to follow disaster response rules...

Published 17 Jul, 2023 01:07pm

Forex

South African rand slips in early trade; CPI and rate decision this week’s focus

JOHANNESBURG: The South African rand was slightly weaker in early trade on Monday, with this week’s major focus...

Published 17 Jul, 2023 01:02pm

Stocks

Australia shares inch lower weighed by miners; RBA minutes in focus

Australian shares ticked lower on Monday to halt a 4-session long winning streak as mining and energy stocks fell...

Published 17 Jul, 2023 01:00pm

Movies & Music

Actress and singer Jane Birkin dies, France loses an ‘icon’

PARIS: British-born actress and singer Jane Birkin, a 1960s wildchild who became a beloved figure in France, has...

Published 17 Jul, 2023 12:46pm

Commodities

Gold prices edge lower as dollar uptick dampens appeal

Gold prices edged lower on Monday as a steady dollar make bullion more expensive for holders of other currencies,...

Published 17 Jul, 2023 12:40pm

Financial close of M-6: NHA approves extension of time

ISLAMABAD: The National Highways Authority (NHA) Executive Board approved the extension of time in achievement of...

Updated 17 Jul, 2023 12:37pm

South Asia

US working with India on platform to speed its energy transition: Yellen

GANDHINAGAR: The United States is working with India to develop an investment platform to lower the cost of capital...

Published 17 Jul, 2023 11:59am

Forex

China’s yuan weakens on disappointing GDP data

SHANGHAI: The yuan weakened against the dollar on Monday, as GDP data reinforced recent signs of a broad loss in...

Published 17 Jul, 2023 11:36am

Stocks

IT stocks lead Indian shares to fresh highs

BENGALURU: Indian shares rose to fresh all-time highs, led by IT stocks on hopes of an end to the U.S. Federal...

Published 17 Jul, 2023 11:24am

Mutual Funds

India bonds yields track US peers higher

MUMBAI: Indian government bond yields were higher at the beginning of the week following a rise in US peers, after...

Published 17 Jul, 2023 11:01am

Cricket

India back Gill to shine at new number three slot

Shubman Gill has the full backing of the India Test team as he adjusts to his move from the top of the order to the...

Published 17 Jul, 2023 10:55am

Forex

India rupee wavers as Asian peers struggle after rally; premiums up

MUMBAI: The Indian rupee wavered in a narrow range on Monday as Asian currencies pulled back following last week’s...

Published 17 Jul, 2023 10:44am

Stocks

Markets struggle as rally fades, China growth misses forecasts

HONG KONG: Asian markets struggled Monday to build on last week’s rally, with new data showing China’s economy grew...

Published 17 Jul, 2023 10:18am

POL products: Rupee slide arrest has helped govt cut prices: PM

Says he would accept public mandate in the upcoming polls

Updated 17 Jul, 2023 10:10am

Cricket

Botham auctions off 1981 Ashes mementoes

LONDON: England cricket great Ian Bothan has sold off more than 200 souvenirs from his career at a London auction,...

Published 17 Jul, 2023 10:05am

Football

Saudi spending spree won’t harm MLS’s Messi-led global push: Garber

FORT LAUDERDALE: Major League Soccer commissioner Don Garber said Saudi Arabia’s big spending on international...

Published 17 Jul, 2023 10:03am

Global Business & Economy

G20 finance and bank chiefs to tackle debt crisis

GANDHINAGAR: G20 finance and central bank chiefs begin talks on Monday to discuss debt restructuring deals and...

Published 17 Jul, 2023 09:56am

Europe

Ukraine grain deal in peril, fierce fighting in the east

ISTANBUL: The clock was ticking down Monday on the deal that allows Ukraine to export its grain via the Black Sea,...

Published 17 Jul, 2023 09:51am

Asia

China’s economy grew 6.3% on-year in second quarter

BEIJING: China’s economy grew 6.3 percent year on year in the second quarter, a figure that belies the country’s...

Published 17 Jul, 2023 09:48am

Football

Gimenez the hero as Mexico down Panama 1-0 to lift 9th Gold Cup

LOS ANGELES: Santiago Gimenez scored the game-winner minutes after entering the match Sunday as Mexico beat Panama...

Published 17 Jul, 2023 09:45am

Exporters’ issues: PM for establishing one-window facilitation centres

SIALKOT: Prime Minister Shehbaz Sharif on Sunday directed the formulation of a policy for the establishment of...

Updated 17 Jul, 2023 09:39am

Commodities

Corn jumps to two-week high, wheat rises for third session

SINGAPORE: Chicago corn and soybean futures gained more ground on Monday, building on last week’s rise as concerns...

Published 17 Jul, 2023 09:39am

Wagner fighters arrive in C Africa: Russian security group

MOSCOW: Several hundred “experienced” Wagner fighters have arrived in the Central African Republic to secure a...

Updated 17 Jul, 2023 09:38am

Pensioners, senior citizens, Shuhada’s families: FBR urged to address issue of reduction in income tax liability

ISLAMABAD: The Federal Board of Revenue (FBR) Policy Wing should immediately address an issue of reduction in income...

Updated 17 Jul, 2023 09:37am

Govt to set up authority to regulate private security agencies

ISLAMABAD: The Federal Government has decided to set up an Authority to regulate services of private security...

Updated 17 Jul, 2023 09:30am

PM briefed on PIA reforms

LAHORE: Federal Minister for Railways and Civil Aviation Khawaja Saad Rafique called on Prime Minister Muhammad...

Updated 17 Jul, 2023 09:22am

Asia

US, China envoys seek to revive climate diplomacy

BEIJING: U.S. climate envoy John Kerry said it was “imperative that China and the United States make real progress”...

Published 17 Jul, 2023 09:20am

Forex

Australia, NZ dollars hold onto gains, taking weak China GDP in stride

SYDNEY: The Australian and New Zealand dollars took a breather on Monday after solid gains last week, and reacted...

Published 17 Jul, 2023 09:15am

Business & Finance

SEZs to facilitate Chinese investment: govt

ISLAMABAD: Planning Minister Ahsan Iqbal has said that Special Economic Zones (SEZs) will facilitate Chinese...

Updated 17 Jul, 2023 09:11am

Commodities

China’s June aluminium output climbs as Yunnan eases power curbs

BEIJING: China’s primary aluminium output in June climbed from a year earlier, according to data released on Monday,...

Published 17 Jul, 2023 09:11am

O&M costs: CPPA-G accused of taking ‘unlawful’ actions against LEL

ISLAMABAD: M/s Hub Power Company (Hubco) has accused Central Power Purchasing Agency- Guaranteed (CPPA-G) of taking...

Updated 17 Jul, 2023 09:10am

Savage heatwaves strike globe as wildfires rage

ROME: Scorching weather gripped three continents on Sunday, whipping up wildfires and threatening to topple...

Updated 17 Jul, 2023 08:38am

BR’s refresher: your morning briefing for the day

Important updates from July 15 and July 16, 2023

Published 17 Jul, 2023 08:37am

Russia seizes shares of Danone and Carlsberg subsidiaries

MOSCOW: Russia took control of shares belonging to French agribusiness Danone and brewer Carlsberg, according to a...

Updated 17 Jul, 2023 08:33am

BR Research

Repatriation axed!

Dividend and profit repatriation on foreign direct invest was almost negligible in FY23 and also lowest in at least...

Published 17 Jul, 2023 07:03am

BR Research

Power tariffs: The rabbit hole

With Nepra’s decision to impose Rs1.25/unit in lieu of periodic adjustment for 3QFY23 to be collected in 1QFY24 –...

Published 17 Jul, 2023 07:01am

BR Research

Beco Steel Limited

Beco Steel Limited (PSX: BECO) was formerly known as Ravi Textile Mills and is incorporated in Pakistan as a public...

Published 17 Jul, 2023 06:58am

Opinion

Free laptops: a recipe for success?

Free laptop schemes such as the one launched by Shehbaz Sharif for lower income groups can work in a number of ways....