News Archives for Latest - 2023-07-20

Stocks

KSE-100 gains 0.67%

Benchmark index settles near 45,400 level after 303-point increase on Thursday

Updated 21 Jul, 2023 07:05pm

World

Cluster munitions in Ukrainian hands, being deployed in field: White House

WASHINGTON: US-supplied cluster munitions are in Ukrainian hands and being deployed in the field as part of Kyiv's...

Published 20 Jul, 2023 11:23pm

World

IAEA says still blocked from Zaporizhzhia nuclear plant roof

VIENNA: The UN's atomic watchdog said Thursday it had been unable to inspect the roofs of Ukraine's Zaporizhzhia...

Published 20 Jul, 2023 11:07pm

Pakistan

PM Shehbaz vows to boost IT exports to $25 billion

Assures all-out facilitation in this regard

Published 20 Jul, 2023 10:40pm

Europe

Ukraine to receive $1.5bn loan from World Bank: PM

KYIV: Ukraine will receive a $1.5 billion loan from the World Bank guaranteed by the government of Japan, Ukrainian...

Updated 20 Jul, 2023 10:00pm

Companies

Indus Motor announces another plant shutdown

Indus Motor Company (IMC), the assembler of Toyota vehicles in Pakistan, has once again announced that it will shut...

Published 20 Jul, 2023 09:42pm

Arts

Johnny Depp self-portrait painted during ‘dark time’ goes on sale

LONDON: A self-portrait by Johnny Depp went on sale on Thursday, depicting the Hollywood star when he was in between...

Published 20 Jul, 2023 09:36pm

Forex

As expected, SBP-held foreign exchange reserves increase $4.2bn, now stand at $8.73bn

Total liquid foreign reserves now stand at $14.07 billion

Updated 20 Jul, 2023 09:35pm

Pakistan

Pakistan to sell contract to run Islamabad airport

KARACHI: Pakistan is to proceed with the sale via tender of a contract to manage Islamabad airport after...

Published 20 Jul, 2023 09:24pm

Pakistan

ECC approves Rs42.5bn grant for general elections

Finance ministry to initially release Rs10bn to ECP

Updated 20 Jul, 2023 09:22pm

Stocks

European shares end at 1-month high, tech stocks tumble

Europe’s STOXX 600 index closed at a one-month high on Thursday, supported by miners, banks and healthcare sectors,...

Published 20 Jul, 2023 09:22pm

Forex

5th consecutive fall: rupee settles at 285.15 against US dollar

Currency depreciates 0.47% in inter-bank market

Updated 20 Jul, 2023 09:02pm

Markets

Super tax: IHC says section 4C ‘as it stands now’ ultra-vires constitution

The Islamabad High Court (IHC) on Thursday approved the petitions filed by various companies and organisations and...

Updated 20 Jul, 2023 09:01pm

Perspectives

Indus Motor Company and its export: Pakistan needs to do a lot more

The responsibility lays with the govt to ensure Pakistan's long-term interests are kept in mind

Updated 20 Jul, 2023 08:58pm

Stocks

US stocks mixed as Netflix, Tesla weigh on Nasdaq

NEW YORK: Wall Street stocks were mixed early Thursday, with the Dow rising and the Nasdaq falling on weakness in...

Published 20 Jul, 2023 07:52pm

Money & Banking

US Fed plays catch-up with new instant payments system

WASHINGTON: The Federal Reserve launched its long-awaited instant payments system on Thursday, bringing the United...

Published 20 Jul, 2023 07:50pm

Stocks

Most Gulf markets in red; Qatar extends gains

Most stock markets in the Gulf were subdued on Thursday, extending losses from the previous session after a weak...

Published 20 Jul, 2023 07:21pm

Technology

YouTube hikes prices on US premium plans

YouTube, Google’s video streaming platform, hiked prices on its monthly and annual premium plans in the United...

Published 20 Jul, 2023 07:18pm

Movies & Music

Amazon to stream BBC Shows in India as battle with Ambani heats up

Amazon.com Inc. is all set to begin streaming BBC shows in India, intensifying an entertainment war with the likes...

Published 20 Jul, 2023 07:10pm

South Asia

Indian landslide kills 16, rescue operations paused

IRSHALWADI: The death toll from a massive landslide in western India rose to 16 late on Thursday, as rescue...

Updated 20 Jul, 2023 07:04pm

Pakistan

Pakistan, Ukraine agree to expand cooperation for mutual benefit

Ukrainian Foreign Minister says his country is looking forward to reinvigorating the bilateral relationship

Updated 20 Jul, 2023 07:03pm

Europe

Putin opted out not to ‘jeopardise’ BRICS summit: S.Africa

JOHANNESBURG: Russian President Vladimir Putin decided against attending an upcoming BRICS summit in Johannesburg in...

Published 20 Jul, 2023 06:26pm

Cricket

Starc strikes before England’s Moeen Ali completes all-round double

MANCHESTER: Mitchell Starc struck an early blow before England’s Zak Crawley and Moeen Ali denied Australia another...

Published 20 Jul, 2023 06:24pm

Europe

Ukraine warns against navigating in Black Sea, following Russia

KYIV: Ukraine said Thursday that ships going to Russian-controlled ports on the Black Sea would be treated as...

Published 20 Jul, 2023 06:11pm

Pakistan

At least 4 policeman martyred, 8 injured in blast near KPK’s Khyber district

The injured have been shifted to a nearby hospital

Updated 20 Jul, 2023 06:07pm

Pakistan

Govt announces public holidays on Muharram 9, 10

Federal govt approves the deployment of armed forces across the country to ensure security during the holy month of Muharram

Published 20 Jul, 2023 05:39pm

Pakistan

PM Shehbaz, son Hamza acquitted in Rs8 billion money laundering case

Court issues instructions to unfreeze properties of all acquitted individuals

Published 20 Jul, 2023 05:38pm

Movies & Music

Everything’s pink: How Barbiecore fashion has fueled a movie’s buzz

LOS ANGELES: Head to any clothing store this summer and you are likely to be hit with an explosion of...

Published 20 Jul, 2023 05:37pm

Energy

Oil edges higher on lower US crude stocks, cautious outlook

LONDON: Oil prices crept higher on Thursday as a lower-than-expected drop in US crude inventories and a weaker...

Updated 20 Jul, 2023 05:36pm

Markets

Pakistan’s sovereign dollar bonds extend decline, shorter-dated bonds fall more than 1 cent: tradeweb

LONDON: Pakistan’s sovereign dollar bonds extended a decline on Thursday, with Tradeweb data showing shorter-dated...

Published 20 Jul, 2023 05:21pm

Companies

International ride-hailing service Yango holds official launch event in Lahore

International ride-hailing service Yango has made its way to Pakistan after successfully launching in Lahore,...

Published 20 Jul, 2023 05:17pm

Forex

Dollar steadies after one-two punch from Aussie, Chinese yuan

LONDON: The dollar held mostly steady against the euro and the yen on Thursday, but dropped against the Australian...

Published 20 Jul, 2023 05:09pm

Money & Banking

Turkiye raises rate by 250 bp to 17.5%, below expectations

ISTANBUL: Turkiye’s central bank hiked its policy rate by 250 basis points to 17.5% on Thursday, continuing to...

Published 20 Jul, 2023 05:04pm

Sports

Pakistan captain Babar Azam lauds ‘improved’ Saud Shakeel after Test win

GALLE: Pakistan skipper Babar Azam said on Thursday his team’s latest Test hero Saud Shakeel had stepped up his game...

Updated 20 Jul, 2023 04:53pm

Business & Economy

Authorities to continue crackdown against ‘loan shark apps’ in Pakistan: official

Head PM Strategic Reforms Salman Sufi shares list of loan apps blocked by authorities so far

Updated 20 Jul, 2023 04:50pm

Markets

Status quo likely in upcoming MPC meeting, say brokerage houses

AHL and Topline believe key policy rate expected to remain at 22%

Updated 20 Jul, 2023 03:23pm

Europe

EU considers 20 billion euro Ukraine defence fund

BRUSSELS: The European Union is drawing up plans to set up a 20-billion-euro ($22 billion) fund to be spent over...

Published 20 Jul, 2023 03:23pm

Pakistan

Cypher probe: Imran can be arrested during inquiry, says Rana Sanaullah

Interior minister says FIA will make recommendations based on evidence regarding those who are complicit and against whom criminal cases should be filed

Updated 20 Jul, 2023 03:15pm

Companies

PICT says assessing options amid end of concession agreement with KPT

Pakistan International Container Terminal (PICT), engaged in providing container terminal management services, said...

Published 20 Jul, 2023 02:50pm

Movies & Music

Netflix adds 6mn subscribers after password crackdown

SAN FRANCISCO: Netflix on Wednesday said subscriptions to the media streaming service climbed by nearly 6 million in...

Published 20 Jul, 2023 01:10pm

Europe

EU’s Borrell: Russia is causing a global food crisis with grain deal withdrawal

PARIS: Russia is responsible for a major global food supply crisis, the European Union’s foreign policy chief, Josep...

Published 20 Jul, 2023 01:09pm

Europe

British Prime Minister Rishi Sunak braced for defeats in key elections

LONDON: Prime Minister Rishi Sunak faces voters in very different parliamentary seats on Thursday and risks losing...

Published 20 Jul, 2023 01:05pm

Stocks

Japan’s Nikkei snaps two-day winning streak amid chip stock slide

TOKYO: Japan’s Nikkei share average fell on Thursday following two straight sessions of advances, as chip stocks...

Updated 20 Jul, 2023 12:57pm

Stocks

UK’s FTSE 100 rises at open on mining, energy boost

Mining and energy stocks lifted UK’s FTSE 100 at the open on Thursday, with global miner Anglo American topping the...

Published 20 Jul, 2023 12:49pm

Forex

Russian rouble edges up as focus turns to expected rate increase

The Russian rouble edged higher against the dollar and euro on Thursday, supported by domestic factors but still...

Published 20 Jul, 2023 12:45pm

Forex

Thai baht gains as traders focus on PM vote; China’s yuan climbs

The Thai baht strengthened against an easing greenback on Thursday after signs of a premiership battle ending in...

Published 20 Jul, 2023 12:41pm

Cricket

Pakistan beat Sri Lanka by four wickets in 1st Test

GALLE: Opening batsman Imam-ul-Haq hit an unbeaten 50 to steer Pakistan home in their tricky chase of 131 against...

Updated 20 Jul, 2023 12:22pm

Stocks

European stock markets mixed at open

LONDON: Europe’s main stock markets opened mixed Thursday as traders react to the latest earnings season as well as...

Published 20 Jul, 2023 12:21pm

Pakistan

US does not take sides on political parties in Pakistan: State Dept

Response comes following reported statement of Azam Khan

Published 20 Jul, 2023 12:00pm

BR Research

Tariq Glass Industries Limited

Tariq Glass Industries Limited (PSX: TGL) was incorporated in Pakistan as a private limited company in 1978 and was...

Published 20 Jul, 2023 11:46am

BR Research

FDI in FY23 – the plunge deepens

The country was able to attract $1.46 billion in foreign direct investment in FY23 – the same level as FY13, but...

Published 20 Jul, 2023 11:28am

Middle East

Swedish embassy in Baghdad stormed, set alight over Holy Quran burning

No embassy staff has been harmed

Updated 20 Jul, 2023 11:28am

Electricity: govt hasn’t enhanced peak hours

ISLAMABAD: The government has not enhanced peak hours for electricity consumers in the country as it is neither...

Updated 20 Jul, 2023 11:25am

Stocks

Hong Kong stocks tick higher at open

HONG KONG: Hong Kong stocks opened slightly higher Thursday after two days of losses, with investors hoping China...

Published 20 Jul, 2023 11:21am

BR Research

LSM: No respite in sight

Large Scale Manufacturing (LSM) shaved another 14.4 percent year-on-year in May 2023. All eleven months of the...

Published 20 Jul, 2023 11:21am

Financial

ECB to raise rates by 25 basis points in July, slim majority say Sept too

BENGALURU: The European Central Bank will raise interest rates by 25 basis points on July 27, according to all...

Updated 20 Jul, 2023 11:18am

Asia

Xi Jinping meets former US secretary of state Henry Kissinger in Beijing: state media

BEIJING: Chinese leader Xi Jinping met former US secretary of state Henry Kissinger in Beijing on Thursday, state...

Published 20 Jul, 2023 11:07am

Sports

Changed role, same goal for Rapinoe at fourth and final World Cup

LOS ANGELES: Megan Rapinoe has embraced a different role for the United States as the decorated veteran bids to bow...

Published 20 Jul, 2023 11:02am

Sports

Putellas fit and ready to go for Spain’s World Cup campaign

AUCKLAND: Spain’s back-to-back Ballon d’Or winner Alexia Putellas is fit and ready to play in the team’s opening...

Published 20 Jul, 2023 10:55am

Commodities

Wheat jumps to three-week high on Ukrainian supplies hit

SINGAPORE: Chicago wheat futures rose 1.6% to hit a three-week high on Thursday, buoyed by growing expectations that...

Published 20 Jul, 2023 10:48am

Europe

At least nine wounded in Russian strike on Ukraine’s Mykolaiv

At least nine people were wounded and some killed by a Russian strike on the Ukrainian port city of Mykolaiv on...

Published 20 Jul, 2023 10:39am

World

New Zealand shooter kills two on eve of Women’s Soccer World Cup

AUCKLAND: At least two people and an armed attacker were killed and five others wounded in a shooting in New...

Published 20 Jul, 2023 10:35am

Mutual Funds

Indian bond yields seen little changed amid lack of fresh cues

MUMBAI: Indian government bond yields are likely to stay largely unchanged in the early session on Thursday as...

Published 20 Jul, 2023 10:27am

Stocks

Asia stocks gain; US futures slip after Netflix, Tesla earnings

SINGAPORE: Asian stocks rose and sterling stumbled on Thursday as cooling UK inflation lifted risk appetite ahead of...

Published 20 Jul, 2023 10:14am

Forex

Indian rupee to rise at open tracking rally in Chinese yuan

MUMBAI: The Indian rupee is expected to open higher on Thursday tracking a rally in yuan after China’s central bank...

Published 20 Jul, 2023 10:12am

Energy

India’s Russian oil imports hit new high in June, but growth slows

NEW DELHI: India’s imports of Russian oil edged up to an all-time high in June, though growing at the slowest pace...

Published 20 Jul, 2023 10:10am

Ailing SOEs come under sharper govt focus

PM Shehbaz Sharif chairs a review meeting on the ongoing reforms in state-owned enterprises

Updated 20 Jul, 2023 10:06am

Commodities

Palm rises over 2% on stronger rival oils, good demand

KUALA LUMPUR: Malaysian palm oil futures jumped more than 2% on Thursday tracking gains in rival edible oils as...

Published 20 Jul, 2023 10:06am

Forex

Australian dollar boosted by jobs boom, yuan rebound

SYDNEY: The Australian dollar jumped on Thursday after a surprisingly strong jobs data added to the risk of further...

Published 20 Jul, 2023 10:03am

Bullion Rate

Gold hits 9-week high on weaker dollar, hopes of Fed rate pause

Gold prices climbed on Thursday to a nine-week peak on a weaker dollar and bets that the US Federal Reserve might...

Published 20 Jul, 2023 10:01am

Business & Finance

Malaysia’s June exports fall 14.1% y/y, faster than forecast

KUALA LUMPUR: Malaysia’s exports in June fell 14.1% from a year earlier, faster than expected, government data...

Published 20 Jul, 2023 09:49am

3 outstanding pacts: KE, federal govt inch closer to final drafts

ISLAMABAD: Federal government and K-Electric are said to have inched closer to final drafts of long outstanding...

Updated 20 Jul, 2023 09:47am

Financial

Fed set to launch long-awaited instant payments service, modernizing system

The US Federal Reserve is due to imminently launch a long-awaited service which will aim to modernize the country’s...

Published 20 Jul, 2023 09:47am

Commodities

China June soybean imports from Brazil up 32% on year

BEIJING: China’s soybean imports from Brazil jumped 31.6% in June from a year earlier, data showed on Thursday,...

Published 20 Jul, 2023 09:43am

Forex

China’s yuan firms after central bank eases cross-border financing rule

HONG KONG: China’s yuan firmed on Thursday, buoyed by the central bank’s move to relax a cross-border financing rule...

Published 20 Jul, 2023 09:39am

Ecnec approves 7 projects

ISLAMABAD: A meeting of the Executive Committee of the National Economic Council (Ecnec) has approved seven...

Updated 20 Jul, 2023 09:36am

Energy

China’s June imports of Russian crude jump to record 2.56mn bpd

BEIJING: China’s imports of crude oil from Russia hit an all-time high in June, Chinese government data showed on...

Published 20 Jul, 2023 09:35am

IK’s cypher narrative described as ‘conspiracy’

ISLAMABAD: Former prime minister Imran Khan’s then-principal secretary Azam Khan has reportedly recorded a statement...

Updated 20 Jul, 2023 09:34am

Stocks

Miners, financials lift Australian shares ahead of June employment data

Australian shares tracked global markets higher on Thursday, boosted by the gains in miners and financial stocks...

Published 20 Jul, 2023 09:32am

Security of nuclear materials : US think tank acknowledges improvement

ISLAMABAD: A Washington-based foreign policy think tank – Nuclear Threat Initiative (NTI) – has acknowledged...

Updated 20 Jul, 2023 09:30am

Stocks

Indian shares open flat as special session to set Jio Financial price begins

BENGALURU: Indian shares opened little changed on Thursday, as focus shifts to the special trading session to...

Published 20 Jul, 2023 09:30am

Business & Finance

Dar tells ADB team: Govt committed to completing IMF SBA

ISLAMABAD: A delegation of Asian Development Bank (ADB) led by Country Director Young Ye, called on Federal Minister...

Updated 20 Jul, 2023 09:30am

Forex

Sterling takes a beating; dollar gains ground

SINGAPORE: Sterling was struggling to recover from a sharp fall on Thursday following UK inflation data that...

Published 20 Jul, 2023 09:26am

Pakistan

12 killed, 181 injured in rain-related incidents: NDMA

ISLAMABAD: The death toll from the monsoon rains in Pakistan has reached 111 as authorities reported 12 more deaths...

Updated 20 Jul, 2023 09:17am

KE’s licence renewed for 6 months

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has provisionally renewed KE’s distribution...

Updated 20 Jul, 2023 09:16am

PTI rejects allegations

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) on Wednesday contended that cypher exists and it is with the chief justice...

Updated 20 Jul, 2023 09:06am

Business & Finance

Fitch upgrades Wapda’s rating

ISLAMABAD: Fitch Ratings has upgraded Pakistan Water and Power Development Authority’s Long-Term Foreign-Currency...

Updated 20 Jul, 2023 08:39am

BR’s refresher: your morning briefing for the day

Important updates from July 19, 2023

Published 20 Jul, 2023 08:38am

Opinion

Hard reset and a lost generation

No better time than election season to make the case – very controversial one, it turns out – that Pakistan’s...