News Archives for Latest - 2023-07-28

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Archive - 2023-07-28

Europe

Russia and Africa to promote a ‘multipolar order’: Putin

MOSCOW: President Vladimir Putin said Friday that Russia and the African leaders attending a summit in Saint...

Published 28 Jul, 2023 10:50pm

Pakistan

ECP temporarily suspends PTI chief’s warrant in contempt case

ECP orders the respondent to appear in person on the fixed date

Published 28 Jul, 2023 09:53pm

Energy

Oil dips but on track for fifth week of gains

NEW YORK: Oil prices edged lower on Friday, but were on track for a fifth straight week of gains as investors were...

Updated 28 Jul, 2023 09:34pm

Europe

Kyiv says Qatar will provide it with $100mn in humanitarian aid

KYIV: Qatar will provide Ukraine with $100 million in humanitarian aid to support health, education and demining,...

Published 28 Jul, 2023 09:15pm

Markets

Exxon profits slump 56%, joins global peers in energy price hit

HOUSTON: Exxon Mobil’s second-quarter profit dropped 56% and fell short of Wall Street expectations, the company...

Published 28 Jul, 2023 09:12pm

Cricket

Broad double sparks Australia collapse in fifth Ashes Test

LONDON: Stuart Broad took two wickets in quick succession before James Anderson got in on the act as England hit...

Updated 28 Jul, 2023 09:00pm

Pakistan

PM Shehbaz arrives in UAE to condole death of President Sheikh Mohamed’s brother

Information Minister says the premier would meet the UAE president during his brief trip

Published 28 Jul, 2023 08:25pm

Pakistan

At least 8 killed, 12 injured as van carrying tourists plunges into ravine near Babusar top

At least 8 people were killed and 12 others injured as a van, filled with tourists, careened into a ravine near...

Updated 28 Jul, 2023 08:14pm

USA

IMF to disburse $7.5bn to Argentina amid ‘challenging’ backdrop

WASHINGTON: Argentina is set to receive a much-needed disbursement of funds from the IMF, the lender said Friday,...

Published 28 Jul, 2023 08:09pm

Europe

India, UK could sign trade deal this year: commerce official

NEW DELHI: India and Britain could sign a free trade agreement (FTA) this year as both countries have reached...

Published 28 Jul, 2023 07:30pm

Stocks

US stocks rebound on better inflation data

NEW YORK: Wall Street stocks rose early Friday, rebounding from the previous session’s losses following data that...

Published 28 Jul, 2023 07:22pm

Pakistan

Muharram processions under way across country amid strict security

Strict security in place with mobile phone services suspended in some areas to prevent any untoward incident

Updated 28 Jul, 2023 07:08pm

South Asia

Bangladesh opposition holds protests to demand resignation of PM

DHAKA: Tens of thousands of supporters of Bangladesh’s main opposition party rallied in the capital on Friday to...

Published 28 Jul, 2023 06:39pm

USA

Key US inflation gauge cools further as rate hikes bite

WASHINGTON: A key indicator of US inflation cooled in June to the lowest annual rate in over two years, said...

Published 28 Jul, 2023 06:08pm

Sports

Schoenmaker wins women’s 200m breaststroke world title

FUKUOKA: South Africa’s Tatjana Schoenmaker won the women’s 200m breaststroke title at swimming’s world...

Published 28 Jul, 2023 06:05pm

Rs1.22trn uplift plans approved by outgoing govt

Executive Committee of the National Economic Council approves eight development projects

Updated 28 Jul, 2023 05:53pm

Stocks

UAE market closes higher on rate pause optimism

Stock markets in the United Arab Emirates (UAE) rose on Friday, as investor confidence improved on expectations that...

Published 28 Jul, 2023 05:44pm

Forex

Rouble falls past 91 vs dollar to over 1-week low as tax period ends

The rouble weakened past 91 against the dollar on Friday to a more than one-week low as a favourable tax period drew...

Published 28 Jul, 2023 05:40pm

Football

Man City’s Mahrez joins Saudi club Al-Ahli

LONDON: Manchester City forward Riyad Mahrez has joined Saudi side Al-Ahli, the two clubs announced on Friday,...

Published 28 Jul, 2023 05:17pm

Forex

Sterling wobbles at two-week lows as traders cut bets on jumbo UK hike

LONDON: The pound edged higher on Friday but hovered near two-week lows after a string of central bank decisions...

Published 28 Jul, 2023 05:13pm

Commodities

Copper gains on end-of-week covering, hopes for China support

LONDON: Copper prices rebounded on Friday after two days of losses, helped by continued hopes for stimulus in top...

Published 28 Jul, 2023 05:09pm

Mutual Funds

India benchmark bond yield sees biggest daily rise in a month, jumps for week

MUMBAI: Indian government bond yields tracked a spike in U.S. peers on Friday, with the benchmark bond yield posting...

Published 28 Jul, 2023 05:06pm

Commodities

Gold heads for weekly loss on strong US economic data

Gold regained some ground on Friday as the dollar retreated, but still headed for its worst week in five after data...

Published 28 Jul, 2023 05:03pm

Luxury

Hermes defies luxury slowdown with strong sales

PARIS: Sales at Birkin bag maker Hermes accelerated in the second quarter, showing the resilience of global demand...

Published 28 Jul, 2023 03:40pm

South Asia

Militias ready for long fight in restive Indian state

CHURACHANDPUR: Schoolboys turned militia fighters stare towards their enemies from their hilltop outpost, as the...

Published 28 Jul, 2023 03:04pm

Europe

Russia ‘carefully’ examining African proposals to end Ukraine conflict: Putin

MOSCOW: Russian President Vladimir Putin on Friday said Moscow is “carefully” examining proposals made by some...

Published 28 Jul, 2023 02:53pm

Sports

India-Pakistan tie among World Cup matches set to be rescheduled

NEW DELHI: Barely three months to go before the start of the 50-overs World Cup, the organising Indian cricket board...

Updated 28 Jul, 2023 02:42pm

South Asia

G20 environment ministers race to reach climate consensus

CHENNAI: Environment ministers from G20 nations meet in India on Friday in a race against time to reach a...

Updated 28 Jul, 2023 02:41pm

Windfall profits of sectors/industries ‘Additional Tax’ applicable for last three tax years from TY23

ISLAMABAD: The Additional Tax on windfall profits of sectors/industries would be applicable for last three preceding...

Updated 28 Jul, 2023 02:41pm

MPS on Monday: Analysts give mixed views on policy rate

KARACHI: The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) will meet on Monday (July 31) to...

Updated 28 Jul, 2023 02:40pm

Public, private firms alike: Reintroduced tax on bonus shares applicable

ISLAMABAD: The reintroduced tax on bonus shares would be applicable on both the public and private companies. Under...

Updated 28 Jul, 2023 02:39pm

Tariff determination: Nepra backs ‘SOFR’ benchmark in place of Libor

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has supported one type of Secured Overnight...

Updated 28 Jul, 2023 02:39pm

Senate body approves ‘Imports and Exports (Control) Bill 2023’

ISLAMABAD: The Senate Standing Committee on Commerce, unanimously, approved, “The Imports and Exports (Control)...

Updated 28 Jul, 2023 02:37pm

Classified information disclosure: Senate passes bill proposing up to 5 years in jail

ISLAMABAD: Amidst strong protest by different parliamentarians from treasury and opposition benches, the Senate,...

Updated 28 Jul, 2023 02:36pm

Middle East

Saudi summons Danish diplomat to protest desecration of Holy Quran

RIYADH: Saudi Arabia summoned a Danish diplomat to protest desecration of the Holy Quran by an extreme-right group...

Updated 28 Jul, 2023 02:21pm

Financial

EBRD approves extra 165mn euros for Moldova gas purchases

CHISINAU: The European Bank for Reconstruction and Development has approved additional financing of 165 million...

Published 28 Jul, 2023 01:24pm

Europe

AstraZeneca’s rare disease arm in $1 bln deal for Pfizer gene therapies

AstraZeneca said on Friday its Alexion unit had agreed to buy US drugmaker Pfizer’s early-stage rare disease gene...

Published 28 Jul, 2023 01:21pm

Movies & Music

Emmys to be postponed due to Hollywood strikes: US media

LOS ANGELES: This year’s Emmy Awards will be postponed due to the ongoing Hollywood strikes, US media reported...

Updated 28 Jul, 2023 12:47pm

Sports

Swiatek into Warsaw quarters as Muchova crashes out

WARSAW: Iga Swiatek eased into the quarter-finals of her home WTA tournament on Thursday while Karolina Muchova, the...

Published 28 Jul, 2023 12:40pm

Sports

Hodges grabs first-round lead PGA Tour 3M Open

LOS ANGELES: Lee Hodges sizzled in sweltering conditions Thursday, grabbing eight birdies in an eight-under par 63...

Published 28 Jul, 2023 12:37pm

Stocks

Hong Kong shares drop at open

HONG KONG: Hong Kong stocks fell at the open Friday following a negative lead from Wall Street and a broadly healthy...

Published 28 Jul, 2023 12:34pm

Technology

Evergrande’s e-vehicle unit plunges as trading resumes

HONG KONG: Shares in the electric vehicle subsidiary of Chinese property giant Evergrande plunged almost 70 percent...

Published 28 Jul, 2023 12:30pm

Sports

Sweden won’t back down against ‘physical’ Italy at Women’s World Cup

WELLINGTON: Captain Kosovare Asllani warned her Sweden team won’t back down in the face of Italy’s physical approach...

Published 28 Jul, 2023 12:07pm

Europe

British Airways parent IAG flies back to profit

LONDON: IAG, parent group of British Airways and Spanish carrier Iberia, said Friday it returned to profit in the...

Published 28 Jul, 2023 12:02pm

Financial

Binance and its CEO seek dismissal of CFTC complaint

Binance and its CEO Changpeng Zhao have filed a motion to dismiss a complaint filed against the exchange by the US...

Published 28 Jul, 2023 11:43am

Companies

Toyota’s global sales rise 5.1% to 4.9mn in first half of 2023

TOKYO: Japanese automaker Toyota Motor said on Friday it sold 5.1% more vehicles in the first half of 2023 compared...

Published 28 Jul, 2023 11:38am

Stocks

China stocks set for best week since Nov on stimulus hopes

SHANGHAI: China stocks jumped on Friday and are on course for the best week since last November, after the country’s...

Published 28 Jul, 2023 11:36am

Forex

China’s yuan inches up as PBOC maintains support through daily fixing

HONG KONG: China’s yuan firmed against the US dollar on Friday , supported by the central bank continuing to set a...

Published 28 Jul, 2023 11:32am

Financial

BOJ makes yield control more flexible as markets eye big policy shift

TOKYO: The Bank of Japan made its yield curve control policy more flexible and loosened its defence of a long-term...

Published 28 Jul, 2023 11:30am

Europe

Turkiye’s Erdogan appoints three deputy governors to central bank

ISTANBUL: Turkiye’s President Tayyip Erdogan named three deputy governors to the central bank, the country’s...

Published 28 Jul, 2023 11:24am

Sports

Argentina, South Africa hopes dented by thrilling draw

DUNEDIN: Argentina and South Africa settled for an exciting 2-2 draw in their Women’s World Cup Group G clash at...

Published 28 Jul, 2023 11:19am

Sports

Formula E’s Hughes sets indoor world speed record

LONDON: British Formula E driver Jake Hughes has smashed a world indoor speed record by hitting 218.71kph (135.9mph)...

Published 28 Jul, 2023 11:17am

USA

US says Trump ordered video deleted, charges second employee in documents case

WASHINGTON: Donald Trump ordered employees at his Florida resort to delete security videos as he was under...

Published 28 Jul, 2023 11:14am

Technology

Global automakers scramble to reset China strategies as sales slow

SHANGHAI: For foreign automakers in China, it is time to double down on a turnaround or cut losses after ceding...

Published 28 Jul, 2023 11:09am

Financial

Bank of England set to raise rates to 5.25% as high inflation persists

LONDON: The Bank of England looks likely to raise rates by a quarter-point to 5.25% on Aug. 3, though economists and...

Published 28 Jul, 2023 11:01am

Technology

Meta plans retention ‘hooks’ for Threads as more than half of users leave app

NEW YORK: Meta Platforms executives are heavily focused on boosting retention on their new Twitter rival Threads,...

Published 28 Jul, 2023 10:57am

Asia

Russian, Chinese officials join Kim Jong Un at North Korea military parade

SEOUL: Chinese and Russian officials stood shoulder to shoulder with Kim Jong Un as they reviewed North Korea’s...

Published 28 Jul, 2023 10:54am

Forex

Australia, NZ dollars slump against yen as BOJ tweaks policy

SYDNEY: The Australian and New Zealand dollars slumped against the yen on Friday after the Bank of Japan signalled...

Published 28 Jul, 2023 10:49am

Stocks

Indian shares open lower amid weak global cues

BENGALURU: Indian shares opened lower on Friday amid weak global cues, while investors awaited a slate of quarterly...

Published 28 Jul, 2023 10:44am

Stocks

Australian shares fall after three-day rise, miners and banks top losers

Australian shares fell on Friday after three straight sessions of gains, tracking weakness in global markets, while...

Published 28 Jul, 2023 10:43am

Stocks

Japan’s Nikkei slides before BOJ policy decision; banks rally

TOKYO: Japan’s Nikkei share average fell on Friday ahead of a closely watched Bank of Japan policy announcement,...

Published 28 Jul, 2023 10:41am

Forex

Yen advances after BOJ takes steps to make yield curve control flexible

SINGAPORE: The yen gained in volatile trading on Friday after the Bank of Japan maintained ultra-low interest rates...

Published 28 Jul, 2023 10:39am

PM ties prosperity to implementation of SIFC vision

GWADAR: Prime Minister Shehbaz Sharif on Thursday said the concerted efforts and true implementation of the vision...

Updated 28 Jul, 2023 09:59am

Caretaker setup: PML-N, PPP yet to find common ground

LAHORE: The Pakistan Muslim League-Nawaz (PML-N) and the Pakistan Peoples Party (PPP) are yet to find a common...

Updated 28 Jul, 2023 09:58am

Greenfield refinery project in Balochistan: 4 SOEs to join hands

ISLAMABAD: Four Pakistani state-owned oil and gas companies signed a MoU amid advance-level negotiation with Saudi...

Updated 28 Jul, 2023 09:38am

Sales tax audit procedure redefined

ISLAMABAD: The Federal Board of Revenue (FBR) has redefined the sales tax audit procedure including selection of...

Updated 28 Jul, 2023 09:21am

BR’s refresher: your morning briefing for the day

Important updates from July 27, 2023

Published 28 Jul, 2023 08:45am

World

Ukraine recaptures Staromaiorske village in southeast, Zelenskiy says

KYIV: Ukrainian soldiers have recaptured the southeastern village of Staromaiorske from Russian forces in Donetsk...

Published 28 Jul, 2023 03:15am

Opinion

‘Heat economic policy’

It is, indeed, important that Pakistan should continue to deal with its macroeconomic and growth challenges of the...