News Archives for Latest - 2023-07-21

World

Biden chooses female admiral to lead US Navy: official

WASHINGTON: President Joe Biden on Friday nominated Admiral Lisa Franchetti to lead the Navy, a move that would ...

Published 21 Jul, 2023 11:44pm

World

Bulgaria to send armoured vehicles to Ukraine in U-turn

SOFIA: Bulgaria decided on Friday to send about 100 armoured personnel carriers to Ukraine in the Balkan country's...

Published 21 Jul, 2023 11:24pm

Forex

6th straight loss: rupee settles at 286.81 against US dollar

Currency depreciates 0.58% in inter-bank market

Updated 21 Jul, 2023 09:37pm

Movies & Music

‘Barbie’ delayed in Punjab over ‘objectionable content’

LAHORE: The ‘Barbie’ film’s release has been delayed in Punjab province Friday over “objectionable content”,...

Published 21 Jul, 2023 09:32pm

Energy

Petroleum dealers defer strike as ‘understanding’ reached with govt

PPDA had earlier called for a strike starting Saturday, arguing that the government needed to revise the margins available to dealers per litre sale of fuel

Published 21 Jul, 2023 09:26pm

Europe

McDonald’s UK opens misconduct unit after allegations

LONDON: McDonald’s UK has opened a specialist unit to investigate allegations of racial and sexual misconduct...

Published 21 Jul, 2023 08:52pm

Energy

Global LNG: Asia spot LNG prices remain flat on limited demand for summer supply

LONDON: Asian spot liquefied natural gas (LNG) prices were flat this week, as buyers continue to focus on early...

Published 21 Jul, 2023 08:54pm

Europe

Russia, Saudi oppose G20 proposal to triple green energy capacity

BAMBOLIM: Major fossil fuel producers, including Saudi Arabia and Russia, on Friday opposed a proposal to triple G20...

Published 21 Jul, 2023 08:44pm

Pakistan

SC should be informed before military trials of civilians begin: chief justice

Six-member bench adjourns hearing indefinitely

Updated 21 Jul, 2023 08:42pm

Pakistan

4 injured in remote-controlled blast in Bajaur

At least four people were injured in a bomb blast in the Geelay area in the Mamund Tehsil of Khyber Pakhtunkhwa’s...

Updated 21 Jul, 2023 08:35pm

Business & Economy

Pakistan hopes to resume PIA flights to UK in three months: minister

ISLAMABAD: Pakistan hopes its national carrier Pakistan International Airlines (PIA) can resume flights to Britain...

Updated 21 Jul, 2023 08:34pm

Stocks

Toronto stocks leap to over 2-month high on China demand hopes

Toronto shares cruised to more than a two-month high on Friday, driven by energy stocks as oil prices rose on hopes...

Published 21 Jul, 2023 08:33pm

Stocks

Wall St eyes higher open as megacaps recover; Dow set for 10th day of gains

Wall Street’s main indexes were set to open higher on Friday, setting the Dow on track for its tenth straight day of...

Published 21 Jul, 2023 08:26pm

Stocks

KSE-100 settles just shy of 46,000 after 522-point increase

Benchmark index increase 1.15% on Friday

Updated 21 Jul, 2023 07:07pm

Movies & Music

India’s entertainment industry projected to grow 9% to $73bn by 2027: PwC

'Global Entertainment & Media Outlook 2023-2027' report says Asia identified as growth hotspot

Published 21 Jul, 2023 06:40pm

Taxes

Salaried group: calculate your income tax for FY24 here

As salaried persons await their first monthly inflow after the revised income tax rates, Business Recorder helps you calculate what you can expect on the 1st of each month

Updated 21 Jul, 2023 06:32pm

Europe

World Bank’s IFC considers $1.5bn in investments in Ukraine banking, farming and infrastructure

KYIV: The World Bank’s private investment arm is considering $1.5 billion in investments in Ukraine’s banking,...

Published 21 Jul, 2023 06:30pm

Markets

Dar says no plan to impose new taxes on agriculture, construction sectors

Statement comes during National Assembly session on Friday

Updated 21 Jul, 2023 06:15pm

Movies & Music

Legendary American singer Tony Bennett dies at age 96

Tony Bennett, the smooth American singer who had an enduring hit with ‘I Left My Heart in San Francisco’ and...

Published 21 Jul, 2023 06:03pm

Cricket

Stokes and Brook help England stretch lead over Australia

MANCHESTER: Captain Ben Stokes and Harry Brook helped England stretch their lead over Australia to 189 on day three...

Published 21 Jul, 2023 05:45pm

Pakistan

We support rule of law, says US on Pakistan elections

US State Department spokesperson Matthew Miller says Washington supports peaceful upholding of fundamental democratic principles such as free media, free speech, freedom of assembly

Updated 21 Jul, 2023 05:45pm

Money & Banking

India’s forex reserves top $600bn, rise to near 15-month high

MUMBAI: India’s foreign exchange reserves rose for a third straight week and stood at $609.02 billion as of July 14,...

Published 21 Jul, 2023 05:37pm

Europe

Putin says Western weapons, support not helping Ukraine

MOSCOW: Russian President Vladimir Putin said Friday that Kyiv’s counteroffensive, launched to push Russian troops...

Published 21 Jul, 2023 05:29pm

Europe

Putin tells Poland any aggression against Belarus is attack on Russia

MOSCOW: President Vladimir Putin on Friday accused NATO member Poland of having territorial ambitions in the former...

Published 21 Jul, 2023 05:06pm

Energy

Oil climbs, fuelled by tighter supplies, China stimulus

LONDON: Oil prices rose on Friday, buoyed by evidence of tightening supplies and economic stimulus in...

Updated 21 Jul, 2023 05:02pm

Commodities

Asia Gold: Rains, price jumps dull activity in India; China premiums firm

Physical gold demand stalled in India this week as monsoon rains and a spike in domestic prices kept buyers at bay,...

Published 21 Jul, 2023 05:00pm

Stocks

Sri Lankan shares end higher as consumer staples, communication services rise

BENGALURU: Sri Lankan shares closed higher on Friday, aided by gains in consumer staples and communication services...

Published 21 Jul, 2023 04:39pm

South Asia

India, Sri Lanka agree to boost ties through energy, power and port projects

NEW DELHI: India and Sri Lanka said on Friday that they had agreed to improve economic ties by increasing...

Published 21 Jul, 2023 04:26pm

Stocks

IT slide drags Indian shares; Reliance results eyed

BENGALURU: Indian shares declined on Friday to snap a six-day winning streak, dragged by information technology (IT)...

Published 21 Jul, 2023 04:14pm

Commodities

Copper, aluminium ease on disappointment on Chinese stimulus

LONDON: Copper and most industrial metal prices edged lower on Friday after investors were disappointed with modest...

Published 21 Jul, 2023 04:11pm

Commodities

Palm oil ease, but logs fourth weekly rise on supply concerns

KUALA LUMPUR: Malaysian palm oil futures ended lower on Friday due to profit-taking, but clocked a fourth weekly...

Published 21 Jul, 2023 04:08pm

South Asia

Four held over India naked women video, may face death penalty

NEW DELHI: Indian police have arrested four men accused of parading two women naked in front of a mob in a...

Updated 21 Jul, 2023 03:40pm

Stocks

European stock markets mixed at open

LONDON: European stock markets opened mixed Friday, mirroring Asia’s performance, as traders weigh the outlooks for...

Published 21 Jul, 2023 02:11pm

Europe

Zelensky sacks ambassador to UK after criticism

KYIV: Ukrainian leader Volodymyr Zelensky on Friday dismissed the country’s ambassador to the United Kingdom, Vadym...

Published 21 Jul, 2023 02:09pm

Movies & Music

‘Oppenheimer’ a warning to world on AI, says director Nolan

PARIS: The story of the invention of the atomic bomb told in the new film ‘Oppenheimer’ is a “warning” to the world...

Published 21 Jul, 2023 01:52pm

Europe

Russia is not ruling out quotas on fuel exports, deputy PM says

MOSCOW: Russia is not ruling out introducing quotas on the export of oil products to stabilise gasoline prices,...

Published 21 Jul, 2023 01:51pm

Forex

Sterling rises after UK retail sales beat forecasts

LONDON: The pound bounced on Friday after data showed UK consumer spending was stronger than expected in June, in...

Published 21 Jul, 2023 01:49pm

Financial

UK reports 18.5 billion pound budget deficit in June

LONDON: Britain recorded a budget deficit of 18.5 billion pounds ($23.82 billion) in June, down by 400 million...

Published 21 Jul, 2023 01:48pm

Companies

Malaysia’s AirAsia X seeks to reverse classification as distressed firm

KUALA LUMPUR: Malaysian budget airline AirAsia X on Friday said it has asked the country’s stock exchange to lift...

Published 21 Jul, 2023 01:46pm

Energy

Asia buys near-record volumes of US crude, replaces MidEast oil

SINGAPORE: Asian refiners have booked near-record volumes of US crude to be shipped in August, replacing Middle...

Published 21 Jul, 2023 12:25pm

Forex

Russian rouble eases ahead of expected interest rate hike

The Russian rouble eased against the dollar on Friday, but held most of the previous session’s gains, with all eyes...

Published 21 Jul, 2023 12:21pm

Sports

Switzerland sour Philippines’ World Cup debut with 2-0 win

DUNEDIN: Switzerland made a winning start to their Women’s World Cup campaign with a 2-0 victory over debutants...

Published 21 Jul, 2023 12:19pm

Stocks

Hong Kong stocks open on back foot

HONG KONG: Hong Kong stocks edged slightly lower in opening trade Friday following losses on Wall Street and with...

Published 21 Jul, 2023 11:35am

Sports

Australia coach defends keeping shock Kerr World Cup injury secret

SYDNEY: Australia coach Tony Gustavsson has defended keeping Sam Kerr’s Women’s World Cup injury secret, saying he...

Published 21 Jul, 2023 11:30am

Europe

White House says Ukraine using US cluster munitions on battlefield

KYIV: Ukrainian forces are using United States-supplied cluster munitions on the battlefield, the White House said,...

Published 21 Jul, 2023 11:28am

Europe

Russian navy carried out live fire ‘exercise’ in Black Sea: defence ministry

MOSCOW: Russia’s navy carried out a live fire “exercise” in the northwest Black Sea, Moscow’s defence ministry said...

Published 21 Jul, 2023 11:21am

Sports

Germany missing key pair for Women’s World Cup opener

WYONG: Germany are set to start their Women’s World Cup campaign on Monday without key players Marina Hegering and...

Published 21 Jul, 2023 11:16am

Financial

US wants ‘friend-shoring’ to include new economies: Yellen

HANOI: The United States wants to include emerging economies such as Vietnam in efforts to strengthen and diversify...

Published 21 Jul, 2023 11:11am

Middle East

Saudi summons Swedish diplomat over Holy Quran protests

RIYADH: Saudi Arabia said late Thursday it was summoning a Swedish diplomat to denounce the issuing of permits for...

Published 21 Jul, 2023 11:08am

Press conference: Moscow seeks explanation from Pakistan over denial of participation

ISLAMABAD: Russia, on Thursday, sought an explanation from Pakistan over the alleged denial of covering a joint...

Updated 21 Jul, 2023 10:45am

Forex

Indian rupee to fall on dollar recovery on signs US job market remains robust

MUMBAI: The Indian rupee is expected to decline on Friday after the number of Americans filing new claims for...

Published 21 Jul, 2023 10:45am

Forex

Australia, NZ dollars nurse losses, market narrows odds on higher rates

SYDNEY: The Australian and New Zealand dollars were nursing sizable weekly losses on Friday as markets braced for...

Published 21 Jul, 2023 10:43am

Commodities

Palm oil edges up, set for fourth weekly rise on supply concerns

KUALA LUMPUR: Malaysian palm oil futures ticked up on Friday, setting it on course for a fourth weekly rise on...

Published 21 Jul, 2023 10:40am

Commodities

Wheat set for biggest weekly gain in 16 months on supply concerns

SINGAPORE: Chicago wheat futures rose on Friday and were poised for their biggest weekly gain in more than 16...

Published 21 Jul, 2023 10:38am

Sports

Kohli keeps India on course for big total v West Indies

Virat Kohli forged a century partnership with Ravindra Jadeja for the unbroken fifth wicket to steer India to 288-4...

Published 21 Jul, 2023 10:36am

Forex

China’s yuan holds tight ranges as investors look for stimulus

HONG KONG: China’s yuan firmed against the dollar on Friday following firmer central bank guidance, but held tight...

Published 21 Jul, 2023 10:29am

Mutual Funds

Indian 10-year bond yield hits 7.10% before debt auction

MUMBAI: Indian government bond yields rose in the early session on Friday, with benchmark bond yield touching 7.10%...

Published 21 Jul, 2023 10:26am

Sports

Sinclair denied as Nigeria hold Canada to valuable 0-0 draw

MELBOURNE: Goalkeeper Chiamaka Nnadozie helped Nigeria secure a valuable 0-0 draw against Olympic champions Canada...

Published 21 Jul, 2023 10:24am

Commodities

Rice prices set to climb further after India export ban, trade at standstill

SINGAPORE: Asian rice trade paused on Friday to digest the previous day’s ban by India, by far the world’s biggest...

Published 21 Jul, 2023 10:20am

South Asia

A day after landslide likely trapped more than 100, Indian rescuers look for survivors

MUMBAI: Rescue teams resumed a search on Friday for possible survivors of a massive landslide in western India that...

Published 21 Jul, 2023 10:17am

Technology

China’s steps to boost sales of cars, electronics disappoint market

BEIJING: Chinese authorities announced measures on Friday intended to help boost sales of automobiles and...

Published 21 Jul, 2023 10:11am

Asia

Travis King disappeared into a North Korea more isolated than ever

SEOUL: When US soldier Travis King sprinted across the border into North Korea from the South this week, he...

Published 21 Jul, 2023 10:06am

Europe

UK PM Sunak’s Conservatives lose Selby and Ainsty by-election

LONDON: British Prime Minister Rishi Sunak’s Conservatives lost the previously safe parliamentary seat of Selby and...

Published 21 Jul, 2023 09:59am

Financial

Audit fails to win US backing for release of Afghan central bank funds

WASHINGTON/ISLAMABAD: A US-funded audit of Afghanistan’s Taliban-run central bank has failed to win Washington’s...

Published 21 Jul, 2023 09:56am

Technology

India’s Infosys shares slide after cutting full-year growth outlook

BENGALURU: Shares of Infosys, India’s second-largest software exporter, fell as much as 9% on Friday, after the...

Published 21 Jul, 2023 09:51am

Finance bill: Bureaucracy can devise ‘zero tax’ regime

Senate Standing Committee on Finance holds meeting under chairmanship of Senator Saleem Mandviwalla

Updated 21 Jul, 2023 09:48am

Technology

Cerebras Systems signs $100mn AI supercomputer deal with UAE’s G42

Cerebras Systems on Thursday said that it has signed an approximately $100 million deal to deliver the first of what...

Published 21 Jul, 2023 09:47am

Business & Finance

Japan’s inflation may have peaked, no imminent change seen to BOJ policy

TOKYO: Japan’s core inflation stayed above the central bank’s 2% target in June for the 15th straight month but an...

Published 21 Jul, 2023 09:43am

Stocks

Asian shares fall after US tech falters, dollar and yields hold gains

SYDNEY: Asian shares fell on Friday after Tesla and Netflix weighed on US tech shares after their earnings reports,...

Published 21 Jul, 2023 09:40am

Bullion Rate

Gold bound for third straight weekly gain on Fed pause views

Gold prices were set on Friday for a third consecutive weekly gain, underpinned by hopes that the US Federal Reserve...

Published 21 Jul, 2023 09:36am

Stocks

Japan’s Nikkei slides for second day as chip rout accelerates

TOKYO: Japan’s Nikkei share average fell on Friday, as the tumble in chip-related shares accelerated tracking a...

Published 21 Jul, 2023 09:35am

Stocks

Australian shares fall, gold and energy stocks top decliners

Australian shares edged lower on Friday, with gold and technology stocks posting the biggest intra-day losses, as...

Published 21 Jul, 2023 09:31am

Section 4C of Income Tax Ord will only have prospective effect: IHC

ISLAMABAD: The Islamabad High Court (IHC) held that Section 4C of the Income Tax Ordinance, 2001 as read down, will...

Updated 21 Jul, 2023 09:30am

‘Green channel’ facility: FBR increases clearance of imports and exports to 66pc

ISLAMABAD: In a major trade facilitation step, the Federal Board of Revenue (FBR) has increased the clearance of...

Updated 21 Jul, 2023 09:29am

General election: Rs42.528bn TSG grant approved by ECC

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved Rs42.528 billion technical...

Updated 21 Jul, 2023 09:28am

Stocks

Indian shares open lower, dragged by IT stocks

BENGALURU: Indian shares opened lower on Friday, dragged by information technology (IT) stocks after top software...

Published 21 Jul, 2023 09:27am

Nepra approves positive adjustment of Rs1.90/unit for May

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has approved positive adjustment of Rs 1.90 per...

Updated 21 Jul, 2023 09:27am

Pakistan urged to take the side of Ukraine

ISLAMABAD: Ukraine on Thursday sought Pakistan’s support in an ‘appropriate way’ in its fight for sovereignty and...

Updated 21 Jul, 2023 09:26am

Forex

Dollar firms, yen steady after Japan inflation holds above BOJ target

SINGAPORE: The dollar was steady on Friday as data pointed to US labour market resilience that could lead the...

Published 21 Jul, 2023 09:25am

Incentives, innovative services: Remittance inflows from GCC states may soar to $20bn: experts

KARACHI: The remittance inflows can be increased by more than $5 billion to $20 billion to Pakistan through the...

Updated 21 Jul, 2023 09:25am

ECP says election will be held by Oct 11 if NA dissolved on Aug 12

ISLAMABAD: The Election Commission of Pakistan (ECP) would hold elections by Oct 11 if assemblies were dissolved on...

Updated 21 Jul, 2023 09:05am

Business & Finance

HSD price cut: Ogra says has no mandate to review or amend govt policy

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has asked the Oil Companies Advisory Council (OCAC) and Oil...

Updated 21 Jul, 2023 08:56am

Ukraine conflict: PM for negotiated settlement

ISLAMABAD: Prime Minister Shehbaz Sharif received Minister for Foreign Affairs of Ukraine, Dmytro Kuleba on...

Updated 21 Jul, 2023 08:41am

BR’s refresher: your morning briefing for the day

Important updates from July 20, 2023

Published 21 Jul, 2023 08:40am

BR Research

Textile export performance: not all gloom

If full-pager ads by textile trade associations in leading newspapers are any guide, Pakistan’s export lifeline is...

Published 21 Jul, 2023 08:37am

BR Research

Mehran Sugar Mills Limited

Mehran Sugar Mills Limited (PSX: MRNS) was incorporated in Pakistan as a public limited company in 1965. The...

Published 21 Jul, 2023 08:33am

Opinion

Another hybrid body needed to widen the tax net

The addition of Special Facilitation Investment Council (SFIC) to the already existing hybrid organization and...

Updated 21 Jul, 2023 07:12am

Editorials

Corps commanders’ meeting

EDITORIAL: It’s important to consider the backdrop for a proper understanding of the most important signals to ...

Published 21 Jul, 2023 07:08am

Opinion

Fair elections and economic stability

“Gross financing needs are very large, mostly due to large debt service payments, while external market financing...

Published 21 Jul, 2023 07:08am

Opinion

Inequality, poverty, and austerity–I

Two reports recently released clearly indicate that in the wake of pandemic, not only has progress on sustainable...

Published 21 Jul, 2023 07:08am

World

More than 40 nations interested in joining BRICS: South Africa

JOHANNESBURG: More than 40 countries have expressed interested in joining the BRICS group of nations, South...