News Archives for Latest - 2023-07-25

BR Research

GM-free poultry: empty pockets, lofty goals

According to weekly SPI data by PBS, national average price of farm eggs breached Rs 260 per dozen in retail markets...

Updated 27 Jul, 2023 04:18pm

Stocks

Miners boost European shares on China stimulus talk

European shares gained on Tuesday with miners logging their best day in over eight months after China pledged more...

Published 25 Jul, 2023 10:08pm

Stocks

Miners boost FTSE 100 on China recovery hopes; Unilever shines

Britain’s FTSE 100 rose for the sixth straight session on Tuesday, supported by gains in miners after top consumer,...

Published 25 Jul, 2023 10:05pm

Stocks

Wall Street climbs ahead of Big Tech results, Fed rate hike

U.S. stocks gained on Tuesday amid choppy trading that could see the Dow log a 12-day rally ahead of quarterly...

Published 25 Jul, 2023 10:01pm

Pakistan

Pakistan’s economic success top priority for US: Blinken

Remarks come as foreign minister Bilawal Bhutto Zardari receives telephone call from US Secretary of State Antony Blinken

Updated 25 Jul, 2023 09:53pm

USA

IMF nudges up 2023 economic outlook but warns of slowing global growth ahead

Global growth forecast for this year raised by 0.2 percentage points from the IMF's last forecast in April, putting the world economy on track for 3% growth in both 2023 and 2024

Updated 25 Jul, 2023 09:51pm

Cricket

Indian skipper Kaur suspended by ICC for Code of Conduct breaches

India captain Harmanpreet Kaur will miss two international matches and be fined 75% of her match fee following two...

Published 25 Jul, 2023 09:09pm

South Asia

IMF raises India’s growth forecast to 6.1% for fiscal year 2024

BENGALURU: The International Monetary Fund (IMF) on Tuesday raised its growth forecast for India slightly, expecting...

Published 25 Jul, 2023 08:33pm

Commodities

TSX flat as losses in communications offset mining gains

Canada’s main stock index was flat on Tuesday, as gains in materials were offset by losses in communications, while...

Published 25 Jul, 2023 08:19pm

Commodities

IMF: India’s rice restrictions could fuel food price inflation

WASHINGTON: India’s move to restrict exports of certain types of rice could help exacerbate food price inflation and...

Published 25 Jul, 2023 08:16pm

Companies

MG HS Excite and 2.0 AWD: MG Pakistan to launch two new variants

LAHORE: MG Pakistan – a joint venture between SAIC, the number one Chinese and the sixth-largest global automobile...

Updated 25 Jul, 2023 08:00pm

Perspectives

Establishing trust: appoint a caretaker setup for Pakistan's sake

With the clock ticking and the deadline approaching, coalition partners seem to be at odds over the issue of a caretaker prime minister

Published 25 Jul, 2023 07:22pm

South Asia

China replaces foreign minister Qin with Wang Yi after weeks of speculation

BEIJING: China removed Foreign Minister Qin Gang from his post on Tuesday after a one-month absence from public...

Updated 25 Jul, 2023 07:12pm

Companies

Honda Atlas Cars’ profit-after-tax plunges 78% in April-June

Quarterly earnings fall from Rs658.2mn to Rs144.96mn on a yearly basis as sales see nearly 90% decline

Updated 25 Jul, 2023 07:05pm

Pakistan

Contempt case: ECP defers Imran Khan’s indictment till Aug 2

Former PM's counsel seeks more time to gather case record

Updated 25 Jul, 2023 07:05pm

Pakistan

Policeman martyred in Khyber blast near mosque: officials

Police say rescue teams have been dispatched to the site

Updated 25 Jul, 2023 07:04pm

Companies

Unilever profit jumps on asset sale, higher prices

LONDON: British consumer goods giant Unilever on Tuesday said its net profit jumped more than a fifth in the first...

Published 25 Jul, 2023 07:03pm

Forex

The fall continues: rupee settles at 288.52 against US dollar

Currency depreciates 0.21% in the inter-bank market for its eighth successive finish in the red

Updated 25 Jul, 2023 07:01pm

USA

US on ‘very narrow path’ to avoid recession: IMF chief economist

WASHINGTON: The US economy is on a “very narrow path” to avoiding a recession, the International Monetary Fund’s...

Published 25 Jul, 2023 06:36pm

Stocks

KSE-100 up 0.79% as bullish momentum continues

Index settles at 46,417.34 after increase of 362.53 points

Published 25 Jul, 2023 06:27pm

Energy

PM Shehbaz expects ‘positive results amid improved energy and agri production’

Prime Minister Shehbaz Sharif on Tuesday reiterated the country has managed to avert a ‘sovereign default’ while...

Updated 25 Jul, 2023 06:12pm

Movies & Music

‘Actors are easy targets’: Kubra Khan opens up about mental health, worst performances

During appearance on TV show, British-Pakistani actor addresses trolling, standing up for oneself

Published 25 Jul, 2023 05:53pm

Money & Banking

Bank of England forecasts 150 billion pound QE gilt loss

LONDON: The Bank of England forecast on Tuesday that it would make a net loss of just over 150 billion pounds ($193...

Published 25 Jul, 2023 05:51pm

South Asia

China appoints Pan Gongsheng as new central bank governor

BEIJING: China has appointed Pan Gongsheng, known for being a firefighting technocrat, as new governor of the...

Published 25 Jul, 2023 05:42pm

Pakistan

‘Risk not worth it’: Pakistanis abandon hopes of reaching Europe after boat tragedies

KHUIRATTA: After spending weeks in Libya trying to reach Europe illegally, Muhammad Naeem Butt turned back –...

Published 25 Jul, 2023 05:41pm

Europe

Kremlin accuses West of trying to sabotage its showcase Russia-Africa summit

MOSCOW: The Kremlin on Tuesday accused the West, and in particular the United States, of trying to sabotage its...

Published 25 Jul, 2023 05:34pm

Energy

Oil prices steady near 3-month highs

LONDON: Oil prices were steady on Tuesday, hovering near three-month highs as signs of tighter supplies and pledges...

Updated 25 Jul, 2023 05:30pm

Europe

Germany, France oppose extending Ukraine grain curbs

BRUSSELS: EU heavyweights Germany and France on Tuesday opposed a push to extend restrictions on sales of Ukrainian...

Published 25 Jul, 2023 05:16pm

Companies

Biogen to cut 1,000 jobs to save costs as Alzheimer’s drug launch gathers pace

Biogen Inc said on Tuesday it expects to slash about 1,000 jobs, or about 11% of its workforce, to save costs as the...

Published 25 Jul, 2023 05:05pm

Stocks

Indian shares close flat as metals offset slide in consumer stocks

BENGALURU: Indian shares were little changed on Tuesday as a slide in consumer stocks offset the uptick in metal...

Published 25 Jul, 2023 04:49pm

Stocks

Sri Lankan shares end lower as energy, financials drag

BENGALURU: Sri Lankan shares closed lower on Tuesday, falling for the second straight session after a 15-session...

Published 25 Jul, 2023 04:47pm

Commodities

Copper prices rise with reinforced Chinese stimulus hopes

LONDON: Prices for copper and most base metals rose in London on Tuesday after top consumer China pledged to step up...

Published 25 Jul, 2023 04:44pm

Commodities

Palm retreats after rallying to 4-1/2-month high

SINGAPORE: Malaysian palm oil futures fell on Tuesday, as traders locked in profits after prices rallied to a...

Published 25 Jul, 2023 04:38pm

Europe

UK PM, Zelenskiy agree on need for Ukraine to be able to export grain

LONDON: British Prime Minister Rishi Sunak and Ukraine’s President Volodymyr Zelenskiy agreed on Tuesday on the...

Published 25 Jul, 2023 03:01pm

Europe

Storms kill two in northern Italy, Palermo airport reopens after fire

MILAN: Palermo’s airport reopened on Tuesday after wildfires in Sicily forced its closure for a few hours as extreme...

Published 25 Jul, 2023 02:59pm

Stocks

Mining stocks push UK’s FTSE 100 higher, Unilever shines

UK’s FTSE 100 edged higher on Tuesday as mining stocks advanced after Beijing pledged to step up policy support for...

Published 25 Jul, 2023 02:32pm

Stocks

Most Gulf markets gain on oil, corporate earnings

Most major stock markets in the Gulf rose in early trade on Tuesday in response to higher oil prices and strong...

Published 25 Jul, 2023 01:50pm

Stocks

Hong Kong stocks end 4.10% higher on China stimulus hopes

HONG KONG: Hong Kong rallied more than four percent Tuesday as developers and tech firms soared following a pledge...

Published 25 Jul, 2023 01:32pm

Luxury

LVMH strikes Paris Olympic Games sponsorship deal

PARIS: Luxury giant LVMH unveiled on Monday a deal to sponsor next year’s Olympic Games in Paris with top fashion...

Published 25 Jul, 2023 12:57pm

Sports

Rain halts Pakistan’s charge after 12-run lead

COLOMBO: Rain halted play on the second morning of the second Test on Tuesday in Colombo but Pakistan kept up their...

Published 25 Jul, 2023 12:32pm

Stocks

European stock markets open mixed

LONDON: Europe’s main stock markets open mixed Tuesday as traders reacted to corporate earnings and awaited key...

Published 25 Jul, 2023 12:29pm

Sports

India women’s captain slammed for ‘deplorable’ behaviour

NEW DELHI: India women’s cricket captain Harmanpreet Kaur was criticised on Tuesday for being a bad example after...

Published 25 Jul, 2023 12:27pm

FY23: POL products worth $1.182bn imported by Pakistan on deferred payment basis

ISLAMABAD: Pakistan imported petroleum products worth $ 1.182 billion on a deferred payment basis under the Saudi...

Updated 25 Jul, 2023 12:19pm

Sports

West Indies recall Hetmyer, Thomas for India ODIs

West Indies have recalled left-handed batsman Shimron Hetmyer and fast bowler Oshane Thomas for the three-match One...

Published 25 Jul, 2023 12:19pm

Mutual Funds

JGB yields rise on caution over BOJ policy move; auction outcome weighs

TOKYO: Japanese government bond (JGB) yields rose on Tuesday amid caution over the Bank of Japan’s (BOJ) possible...

Published 25 Jul, 2023 12:13pm

Forex

South African rand gains in early trade on China policy pledges

JOHANNESBURG: The South African rand extended gains from the previous session in early trade on Tuesday, as China’s...

Published 25 Jul, 2023 12:06pm

Commodities

Copper hits one-week high on Chinese property stimulus hopes

Prices of most nonferrous metals rose on Tuesday as investors and traders bet on improving demand from top consumer...

Published 25 Jul, 2023 12:01pm

Financial

Saudi National Bank Q2 net profit up 9%, beating estimate

DUBAI: Saudi National Bank (SNB) on Tuesday reported a 9.3% jump in net profit for the second quarter compared with...

Published 25 Jul, 2023 11:58am

Stocks

Australian shares end higher on China stimulus bets; CPI data on tap

Australian shares ended higher on Tuesday as investors cheered China’s pledge to boost aid for its stuttering...

Updated 25 Jul, 2023 11:54am

Middle East

Three Palestinians killed by Israel troops: Palestinian ministry

NABLUS: Israeli troops killed three Palestinians in the occupied West Bank city of Nablus on Tuesday, the...

Published 25 Jul, 2023 11:52am

Stocks

Tokyo’s blue-chip shares fall ahead of earnings, rate meetings

TOKYO: Tokyo’s blue-chip shares fell on Tuesday as investors adjusted their positions ahead of key interest-rate...

Updated 25 Jul, 2023 11:51am

Africa

Death toll rises to 37 in Cameroon building collapse

YAOUNDÉ: The death toll from a building collapse in Cameroon’s business hub Douala rose to 37 on Monday, as...

Published 25 Jul, 2023 11:44am

Europe

Mines found at Ukraine’s Zaporizhzhia nuclear plant: UN watchdog

VIENNA: The UN’s atomic watchdog said it saw anti-personnel mines at the site of Ukraine’s Zaporizhzhia nuclear...

Published 25 Jul, 2023 11:39am

Sports

Record-breaker Marchand back in action at swimming world championships

FUKUOKA: French star Leon Marchand was back in action at swimming’s world championships on Tuesday, easing through...

Published 25 Jul, 2023 11:35am

Europe

Europe, US heatwaves ‘virtually impossible’ without climate change

PARIS: Blistering heat that has baked swathes of North America and Europe this month would have been “virtually...

Published 25 Jul, 2023 11:28am

Sports

US-born South Korean becomes youngest Women’s World Cup player

SYDNEY: Casey Phair on Tuesday became the youngest player to feature at a Women’s World Cup after coming on as a...

Published 25 Jul, 2023 11:24am

South Asia

Thousands of Afghan salons to close as Taliban deadline bites

KABUL: Thousands of beauty parlours across Afghanistan were due to close permanently Tuesday following an order by...

Published 25 Jul, 2023 11:21am

Europe

Macron urges N. Caledonia to build future after ‘no’ independence vote

NOUMEA: President Emmanuel Macron urged “compatriots” in New Caledonia to forge a common future Tuesday during a...

Published 25 Jul, 2023 11:14am

Energy

Russia plans to lower oil export discount to $20/bbl

Russia’s finance ministry plans to cut the discount it uses to set taxes on the country’s crude oil exports to $20...

Updated 25 Jul, 2023 11:09am

Forex

Australia, NZ dollars struggle with global growth concerns

SYDNEY: The Australian and New Zealand dollars struggled on Tuesday as soft surveys on factory and services activity...

Published 25 Jul, 2023 11:07am

Stocks

Asia shares rally after China pledges economic support steps

SINGAPORE: Asian shares jumped on Tuesday as China’s pledge to step up policy support for its stuttering economy...

Published 25 Jul, 2023 11:03am

Stocks

China’s stocks surge as leaders vow to shore up slowing economy

SHANGHAI: Chinese stocks jumped on Tuesday, reversing previous declines, a day after the country’s top leaders...

Published 25 Jul, 2023 10:59am

World

The problem with X? Meta, Microsoft, hundreds more own trademarks to new Twitter name

Billionaire Elon Musk’s decision to rebrand Twitter as X could be complicated legally: companies including Meta and...

Published 25 Jul, 2023 10:54am

Europe

Russia launches sixth air attack on Kyiv in July

Russia launched its sixth air attack this month on Kyiv early on Tuesday, the military administration of the...

Published 25 Jul, 2023 10:48am

Commodities

Palm retreats after rallying to 4-1/2-month high

SINGAPORE: Malaysian palm oil futures fell on Tuesday, as traders locked in profits after prices rallied to a...

Published 25 Jul, 2023 10:44am

Sports

Rain in Port of Spain denies India series sweep

India were denied the chance of a 2-0 series sweep over West Indies on Monday when rain wiped out the final day of...

Published 25 Jul, 2023 10:42am

Commodities

Wheat climbs to 5-month high as Russia intensifies attacks on Ukraine ports

SINGAPORE: Chicago wheat futures rose to a five-month top on Tuesday, gaining 2% as Russia’s attacks on Ukrainian...

Published 25 Jul, 2023 10:35am

Energy

China’s H1 year gold consumption up over 16%

BEIJING: China’s gold consumption rose more than 16% year-on-year to 554.88 metric tons in the first half of the...

Published 25 Jul, 2023 10:27am

Bullion Rate

Gold gains on weaker dollar, traders focus on Fed decision

Gold prices rose on Tuesday on a weaker dollar, while traders awaited a widely anticipated rate hike along with...

Published 25 Jul, 2023 10:25am

Forex

Most Asian FX, stocks gain after Chinese Politburo meet boosts sentiment

The Chinese yuan and the Malaysian ringgit were among the lead gainers among emerging Asian currencies on Tuesday,...

Published 25 Jul, 2023 10:22am

Sports

Usme, Caicedo score to lift Colombia 2-0 over South Korea in Women’s World Cup

SYDNEY: Catalina Usme and Linda Caicedo scored to give Colombia a 2-0 victory over South Korea in their opening game...

Published 25 Jul, 2023 10:18am

Financial

S&P lowers Bangladesh’s outlook to negative from stable

S&P Global Ratings on Tuesday lowered Bangladesh’s outlook to negative from stable, citing risks its external...

Published 25 Jul, 2023 10:13am

Sports

Putellas ready for Spain’s second World Cup outing against ‘dangerous’ Zambia

AUCKLAND: Spain are expecting anything but a walk in the park when they face Zambia in their second Women’s World...

Published 25 Jul, 2023 10:09am

UN talks seek to fix ‘broken’ food system

In a world of plenty, it is outrageous that people continue to suffer and die from hunger, says UN Secretary-General Antonio Guterres

Updated 25 Jul, 2023 10:07am

Industrial consumers: PLL, SSGC may be allowed to auction off unutilized capacity of LNG

ISLAMABAD: The government is likely to allow Pakistan LNG Limited (PLL) and Sui Southern Gas Company (SSGC) to...

Updated 25 Jul, 2023 10:04am

Forex

Indian rupee looks to build on momentum on positive Asian cues

MUMBAI: The Indian rupee will be looking to rise further versus the US dollar on Tuesday, on back of rise in Asian...

Published 25 Jul, 2023 10:04am

Goods under brand name, trademark: Bulk supplies chargeable to GST: FBR

ISLAMABAD: The Federal Board of Revenue (FBR) will charge sales tax on bulk supplies of goods made under brand names...

Updated 25 Jul, 2023 10:03am

Lahore, Sheikhupura: PM performs ground-breaking of 3 industrial zones

LAHORE: Emphasising the need for spreading network of Special Economic Zones (SEZs) across the country, Prime...

Updated 25 Jul, 2023 10:02am

Forex

Euro staggers as traders wary of hawkish ECB; dollar gains

SINGAPORE: The euro hit a two-week low on Tuesday as a worsening downturn in euro zone business muddied the bloc’s...

Published 25 Jul, 2023 10:02am

Replacement of Guddu plant machinery: FIA to conduct probe into $32m payments to GE

ISLAMABAD: The Federal Investigation Agency (FIA) will probe the $ 32 million payments made to M/s General Electric...

Updated 25 Jul, 2023 10:01am

Stocks

Indian shares open higher tracking Asian peers

BENGALURU: Indian shares opened higher on Tuesday, tracking Asian peers on China’s pledge to provide policy support...

Published 25 Jul, 2023 09:55am

Forex

China’s yuan rises to 2-week high on economic support pledge, state banks’ buying

HONG KONG: China’s yuan firmed on Tuesday to a near two-week high against the dollar, after top policymakers’...

Published 25 Jul, 2023 09:45am

Mutual Funds

Indian bond yields rise tracking US peers; state debt auction demand eyed

MUMBAI: Indian government bond yields rose in early trade on Tuesday tracking US peers, with focus now turning to...

Published 25 Jul, 2023 09:43am

LNG supply: Framework agreement inked with Azerbaijan

LAHORE: In a bid to help fulfill country’s energy requirements through cooperation in the fields of oil and gas,...

Updated 25 Jul, 2023 09:34am

Caretaker setup: PPP rejects ‘fake’ reports

ISLAMABAD: Pakistan Peoples Party (PPP) rejected media reports that the two major coalition partners in the Centre,...

Updated 25 Jul, 2023 09:30am

Pakistan

Contempt proceedings: ECP asks Islamabad police to arrest IK

ISLAMABAD: The poll body, Election Commission of Pakistan (ECP, has directed the Islamabad Police to arrest Chairman...

Updated 25 Jul, 2023 09:24am

Agencies/provinces/areas: ECC allows allocation of wheat on price-weighted average

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet allowed allocation of wheat among the recipients...

Updated 25 Jul, 2023 09:23am

Rs7.50 per unit hike in basic power tariff okayed by Nepra

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) on Monday gave its nod for increase in basic...

Updated 25 Jul, 2023 09:15am

BR’s refresher: your morning briefing for the day

Important updates from July 24, 2023

Published 25 Jul, 2023 09:14am

BR Research

Electricity generation stays depressed

Pakistan’s national grid electricity generation in FY23 at 126 billion units stayed nearly 10 percent lower...

Published 25 Jul, 2023 08:43am

BR Research

Exide Pakistan Limited

Exide Pakistan Limited (PSX: EXIDE) was incorporated in Pakistan as a private limited company in association with...

Published 25 Jul, 2023 08:35am

Opinion

Inward forex cash flows: from 2023-24 to 2027-28

The IMF (International Monetary Fund) issued ‘Request For Stand-By Arrangement’ in July 2023. The IMF has again...

Updated 25 Jul, 2023 07:01am

Opinion

Elections loom amid a myriad questions

The bizarre is not only commonplace, some argue it is the norm in Pakistan. Take for example the latest offering by...

Updated 25 Jul, 2023 06:54am

Opinion

Managing the BoP

The balance of payments (BoP) figures for the full-year, 2022-23, have just been released by the SBP. They reflect...

Updated 25 Jul, 2023 06:52am

Editorials

Tax proposals by the IMF

EDITORIAL: The $3 billion nine-month-long Stand-By Arrangement (SBA) approved by the International Monetary Fund...

Updated 25 Jul, 2023 06:49am

Pakistan

The Weather

KARACHI: The weather report on Monday (July 24, 2023) and the forecast for Tuesday (July 25, 2023)...