News Archives for Latest - 2023-08-01

Cricket

India blow away West Indies in decider to seal ODI series

TAROUBA: India swiftly erased the memory of a poor second match to annihilate the West Indies by 200 runs in the...

Updated 02 Aug, 2023 04:28am

USA

US strongly condemns suicide bombing in Pakistan: State Department

The United States condemns "in the strongest terms" the suicide bombing in Pakistan on Sunday that killed dozens of...

Published 01 Aug, 2023 11:18pm

Energy

Berlin hails 'progress' in EU talks on hydrogen plants

FRANKFURT: German Economy Minister Robert Habeck on Tuesday welcomed "important progress" in talks with the European...

Published 01 Aug, 2023 10:52pm

World

Turkish staff member at Sweden's consulate in western Turkey shot, seriously injured: state broadcaster

ANKARA: A Turkish staff member at Sweden's honorary consulate in the western city of Izmir was shot and seriously...

Published 01 Aug, 2023 10:34pm

Pakistan

NA passes bill proposing 3 years in jail for disclosing identities of intelligence officials

The bill also proposes a fine extending to Rs10 million

Updated 01 Aug, 2023 10:19pm

Pakistan

FM Bilawal urges Afghan authorities to take action against TTP, terrorists

Says Pakistan is ready to work with Afghan government to take measures to eradicate terrorism in both countries

Updated 01 Aug, 2023 09:57pm

Stocks

Wall St falls after mixed earnings, downbeat manufacturing data

Wall Street’s main indexes fell on Tuesday as investors assessed mixed earnings from industry heavyweights and...

Published 01 Aug, 2023 09:36pm

Stocks

European shares start August on sour note as global factory activity falters

European stocks fell on Tuesday, with the German DAX pulling back from record highs as shrinking factory activity in...

Published 01 Aug, 2023 09:33pm

Stocks

UK’s FTSE 100 falls as weak China data hurts miners

The UK’s FTSE 100 fell on Tuesday as mining firms dipped after China’s manufacturing activity contracted in July,...

Published 01 Aug, 2023 09:30pm

Business & Economy

PM Shehbaz says willing to talk if ‘neighbour’ is serious

In apparent reference to India, prime minister says talks on the table if issues are addressed through peaceful, meaningful discussions

Updated 01 Aug, 2023 08:48pm

Commodities

India should exclude premium rice variety from export ban

MUMBAI: India should allow exports of 1 million metric tons of a premium non-basmati rice variety favoured by...

Published 01 Aug, 2023 08:37pm

Forex

Rupee sustains back-to-back losses, settles at 287.54 against US dollar

Currency depreciates 0.31% in inter-bank market

Updated 01 Aug, 2023 08:36pm

Forex

Pakistan’s headline inflation slows marginally, clocks in at 28.3% in July

CPI inflation in urban areas reported at 26.3% on a year-on-year basis in July 2023

Updated 01 Aug, 2023 08:35pm

Cricket

Australia’s Khawaja laments ‘frustrating’ ball change in Ashes finale

LONDON: Australia batsman Usman Khawaja was left to rue a “frustrating” ball change which he believed played a key...

Updated 01 Aug, 2023 07:50pm

Stocks

Saudi market extends losses on profit-taking; Qatar advances

Saudi Arabian stocks extended losses on Tuesday as traders continued to book profits after the benchmark index hit a...

Published 01 Aug, 2023 07:49pm

Pakistan

Army chief invites foreign investors to ‘discover hidden treasures of Pakistan’

COAS Munir says government will ensure investor-friendly system that avoids unnecessary delays

Updated 01 Aug, 2023 07:47pm

Pakistan

Pakistan, Barrick Gold agree to pay share of Reko Diq in Pakistani rupees

PM Shehbaz says the project will be a game changer for the development of Balochistan and the region

Updated 01 Aug, 2023 07:43pm

Stocks

KSE-100 gains another 196 points as bull-run continues

Pakistan stocks extended gains for a 9th consecutive session on Tuesday, as upbeat economic indicators continued to...

Updated 01 Aug, 2023 07:43pm

Companies

Pfizer trims 2023 revenue outlook as profits tumble

NEW YORK: Pfizer reported a steep drop in profits Tuesday on much lower Covid-related revenues as it curtailed its...

Updated 01 Aug, 2023 07:42pm

Companies

Uber reports surprise profit in Q2

NEW YORK: Uber reported a surprise profit on Tuesday, pointing to strong growth in its core mobility and delivery...

Published 01 Aug, 2023 07:37pm

Stocks

Wall Street mostly down as investors digest corporate results

NEW YORK: US stocks mostly declined early Tuesday as traders took in a series of earnings reports and looked ahead...

Published 01 Aug, 2023 07:33pm

USA

US manufacturing struggles with ninth month of contraction

WASHINGTON: The US manufacturing sector saw activity contract for a ninth straight month in July, survey data showed...

Published 01 Aug, 2023 07:30pm

Energy

Oil steadies near three-month high on tighter supplies

LONDON: Oil hovered around three-month highs on Tuesday as investors focused on tightening global supplies and...

Updated 01 Aug, 2023 06:32pm

Football

Klopp concerned over Saudi transfer window

SINGAPORE: Liverpool manager Jurgen Klopp on Tuesday urged football authorities to address the late closure of the...

Published 01 Aug, 2023 06:09pm

Life & Style

Hollywood saves India’s PVR Inox as Bollywood bombs at box office

BENGALURU: International cinema helped India’s biggest movie operator PVR Inox post a rise in first-quarter revenue...

Published 01 Aug, 2023 05:52pm

Asia

At least 20 killed, 19 missing in China rainstorms

MENTOUGOU: At least 20 people were killed and 19 were missing after heavy rains lashed Beijing and surrounding...

Updated 01 Aug, 2023 05:47pm

Forex

Crypto stocks dip after bitcoin slumps to six-week low

Shares of cryptocurrency and blockchain related companies fell in premarket trading on Tuesday, as bitcoin hit a...

Published 01 Aug, 2023 05:44pm

Energy

Pakistan LNG skips awarding tender to Trafigura bid

SINGAPORE: Pakistan LNG Limited (PLL) did not award a tender to commodities trader Trafigura, which had offered bids...

Updated 01 Aug, 2023 05:42pm

Stocks

European stock markets drop, dollar firms

London’s...

Updated 01 Aug, 2023 05:42pm

Commodities

Petrol, HSD prices: Govt announces hike of nearly Rs20 per litre

Government intended to provide relief, but international prices are not under its control, says finance minister Ishaq Dar

Updated 01 Aug, 2023 05:37pm

Business & Economy

Govt to establish sub-funds under Pakistan Sovereign Wealth Fund: Ishaq Dar

Finance Minister Ishaq Dar on Tuesday said the government would establish sub-funds under the Pakistan Sovereign...

Published 01 Aug, 2023 05:25pm

Movies & Music

‘Barbenheimer’ memes spark anti-nuclear anger in Japan

TOKYO: Internet memes referencing the films ‘Barbie’ and ‘Oppenheimer’ have sparked anger online in Japan, the only...

Published 01 Aug, 2023 05:20pm

Stocks

Indian shares muted as caution over elevated valuations offsets IT uptick

BENGALURU: Indian shares closed little changed on Tuesday, as a broad sectoral slide on caution over elevated...

Published 01 Aug, 2023 04:30pm

Commodities

Copper eases after strong July, dollar growth

LONDON: Copper prices fell in London on Tuesday after a strong July, as weak data out of top consumer China...

Published 01 Aug, 2023 04:25pm

Commodities

Palm extends losses for sixth sessions as market awaits July estimates

JAKARTA: Malaysian palm oil futures slid for the sixth session on Tuesday to its lowest closing in nearly three...

Published 01 Aug, 2023 04:22pm

Pakistan

2 policemen escorting polio team martyred in Quetta

The polio team was safe in the attack

Published 01 Aug, 2023 03:10pm

Financial

Nomura’s crypto arm wins Dubai licence

LONDON: The crypto arm of Japanese investment bank and brokerage Nomura said on Tuesday it had won an operating...

Published 01 Aug, 2023 02:02pm

Stocks

UK’s FTSE 100 falls as mining losses subdue HSBC, Diageo gains

UK’s FTSE 100 reversed gains on Tuesday as losses in mining firms outpaced upbeat earnings by HSBC, Weir Group and...

Published 01 Aug, 2023 01:57pm

Pakistan

Civilians’ trial in military courts: SC reserves verdict on plea for full court

A six-member bench hears the case

Updated 01 Aug, 2023 01:55pm

Forex

Rouble steadies after second drone strike on Moscow financial district

The Russian rouble steadied on Tuesday, supported by high oil prices, but hampered by geopolitics after a second...

Published 01 Aug, 2023 01:53pm

Stocks

Hong Kong shares slip to cap recent rally

HONG KONG: Hong Kong stocks ended Tuesday slightly lower following a recent rally driven by China’s pledges of...

Updated 01 Aug, 2023 01:49pm

USA

US delegation presses Taliban at Doha meeting on women’s rights

WASHINGTON: US officials denounced the deteriorating human rights situation in Afghanistan – particularly for women...

Published 01 Aug, 2023 01:48pm

Travel

UNESCO recommends putting Venice on heritage danger list

PARIS: The UN’s cultural agency UNESCO on Monday recommended that Venice be added to its list of world heritage in...

Published 01 Aug, 2023 01:37pm

Companies

BMW raises 2023 outlook on strong orders

FRANKFURT: German automaker BMW on Tuesday lifted its 2023 earnings forecast on the back of higher orders and “an...

Published 01 Aug, 2023 01:41pm

Stocks

Tokyo shares close higher

TOKYO: Tokyo shares closed higher on Tuesday following gains on Wall Street, with Toyota climbing after announcing...

Updated 01 Aug, 2023 01:11pm

Real Estate

UK house prices drop by most since 2009: Nationwide

LONDON: British house prices fell by the most since 2009 in the 12 months to July, mortgage lender Nationwide said...

Updated 01 Aug, 2023 12:28pm

Middle East

Saudi Arabia to grant Yemen $1.2bn in economic aid

RIYADH: Saudi Arabia is giving Yemen’s presidential council $1.2 billion to help the country’s struggling economy, a...

Updated 01 Aug, 2023 12:25pm

Forex

South African rand edges lower after tumble on Chinese data

JOHANNESBURG: The South African rand edged lower in early trade on Tuesday after falling over 1% on Monday on the...

Published 01 Aug, 2023 12:21pm

Europe

Sweden to present security measures amid Holy Quran burning crisis

OSLO: The Swedish government said on Tuesday it would present measures to protect its citizens amid growing concerns...

Published 01 Aug, 2023 12:17pm

South Asia

At least five killed in Hindu-Muslim clashes in India’s Haryana state

NEW DELHI: At least five people, including two police personnel, were killed in clashes between Hindus and Muslims...

Published 01 Aug, 2023 12:10pm

Europe

Russian chief of staff shown visiting troops near front line in Ukraine

Valery Gerasimov, chief of the general staff of Russia’s armed forces, has visited Russian troops in Ukraine’s...

Published 01 Aug, 2023 11:55am

Sports

Jadeja defends ‘experiments’, says India will be at their best in decider

India all-rounder Ravindra Jadeja has shrugged off Saturday’s defeat by West Indies in the second one-day...

Published 01 Aug, 2023 11:46am

Forex

Pound’s mini-budget dip made UK’s Brexit bill dearer

LONDON: Sterling’s drop at the time of former Prime Minister Liz Truss’s failed budget plans meant the British...

Published 01 Aug, 2023 11:42am

Bullion Rate

India’s 2023 gold demand could fall 10% to 3-year low

MUMBAI: India’s gold demand in 2023 could fall 10% from a year ago to their lowest in three years, as record high...

Published 01 Aug, 2023 11:22am

Business & Finance

Indian factory growth eased for second month in July, but kept healthy pace

BENGALURU: Growth in India’s manufacturing activity eased in July for a second month, with some moderation in output...

Published 01 Aug, 2023 11:19am

Sports

No handshake, no problem as Svitolina downs Azarenka

WASHINGTON: Ukraine’s Elina Svitolina grabbed a second straight victory over Victoria Azarenka of Belarus at the WTA...

Published 01 Aug, 2023 11:13am

Sports

Nigeria ‘destined for something special’ at World Cup, coach says

BRISBANE: Nigeria are “destined for something special” at the Women’s World Cup, their coach Randy Waldrum has said,...

Published 01 Aug, 2023 11:04am

Financial

HSBC says first-half pre-tax profits soared to $21.7bn

HONG KONG: Banking giant HSBC said on Tuesday that pre-tax profit more than doubled to $21.7 billion in the first...

Published 01 Aug, 2023 11:01am

Sports

Sweden aim to keep momentum going into World Cup knockouts

HAMILTON: Sweden are already into the knockout phase of the Women’s World Cup but are eager to maintain their...

Published 01 Aug, 2023 10:59am

Companies

Toyota Q1 net profit soars to $9.1 billion

TOKYO: Japan’s Toyota said on Tuesday that net profit in its first quarter surged 78 percent as global production...

Published 01 Aug, 2023 10:57am

Mutual Funds

Japan’s 10-year bond yield falls ahead of auction

TOKYO: Japan’s 10-year government bond yield (JGB) fell on Tuesday, as traders expected that an auction for the...

Published 01 Aug, 2023 10:47am

Financial

RBI to hold rates at 6.50% through Q1 2024, cut in April-June

BENGALURU: The Reserve Bank of India (RBI) will hold its key interest rate at 6.50% through end-March 2024,...

Published 01 Aug, 2023 10:44am

Mutual Funds

India bond yields seen little changed before state debt supply

MUMBAI: Indian government bond yields are expected to trade largely unchanged in early session on Tuesday as traders...

Published 01 Aug, 2023 10:41am

Sports

Australia, World Cup organisers relieved after Matildas find groove

MELBOURNE: A Women’s World Cup that had been in danger of losing both its co-hosts before the knockout phase enjoyed...

Published 01 Aug, 2023 10:39am

Financial

Japan ministers say BOJ’s move wasn’t shift in monetary easing

TOKYO: The Bank of Japan’s Friday decision to make its yield curve control (YCC) more flexible was not deemed a...

Published 01 Aug, 2023 10:36am

Forex

Indian rupee may struggle on dollar move, support seen near

MUMBAI: The Indian rupee is likely to decline on Tuesday, pressured by the dollar’s move higher versus its major...

Published 01 Aug, 2023 10:32am

Sports

Philippines coach to depart after World Cup exit

AUCKLAND: Philippines coach Alen Stajcic will not renew his contract with the women’s national team after their exit...

Published 01 Aug, 2023 10:30am

Commodities

Palm extends losses for sixth day as rivals weigh

JAKARTA: Malaysian palm oil futures slid for a sixth consecutive session on Tuesday, dragged down by weakness in...

Published 01 Aug, 2023 10:27am

Real Estate

China new home prices fall for third month in July

BEIJING: Average new home prices in 100 Chinese cities fell for a third consecutive month in July, while more...

Published 01 Aug, 2023 10:25am

Asia

‘Not found’: China’s ex-foreign minister is gone but wait for explanation goes on

BEIJING: Hours after China’s top legislature convened a special meeting last week to remove foreign minister Qin...

Published 01 Aug, 2023 10:23am

Stocks

Asia stocks near 16-month peak on economic optimism, Aussie eases before RBA

TOKYO: Asian stocks edged toward a sixteen-month peak on Tuesday and oil held near recent highs as investors began...

Published 01 Aug, 2023 10:14am

Europe

Drones target Moscow, high-rise building hit

The Russian military said its anti-aircraft units had thwarted a Ukrainian “terrorist attack” early on Tuesday and...

Published 01 Aug, 2023 10:11am

Commodities

Corn, soybeans rebound as US crop condition declines; wheat firms

SINGAPORE: Chicago corn and soybean futures rose on Tuesday after a US government report showed that condition of...

Published 01 Aug, 2023 10:07am

South Asia

Crane collapse kills 16 workers in India’s Maharashtra state

NEW DELHI: At least 16 workers were killed and several others were feared trapped after a crane collapsed during the...

Published 01 Aug, 2023 10:03am

‘New model’ to characterize 2nd CPEC phase

PM praises role of President Xi

Updated 01 Aug, 2023 10:03am

Commodities

Philippine government asking private rice traders to ramp up imports

MANILA: The Philippines will boost its inventory of rice, including supply from imports, with the government...

Published 01 Aug, 2023 09:58am

Energy

Saudi Arabia may raise Sept crude prices for a third month

SINGAPORE: Saudi Arabia, the world’s biggest oil exporter, may raise its price for Arab Light crude for sale to...

Published 01 Aug, 2023 09:55am

Forex

China’s yuan eases as factory activity data shows first decline since April

HONG KONG: The yuan weakened on Tuesday after a private sector survey showed China’s factory activity growth...

Published 01 Aug, 2023 09:52am

Business & Finance

Asia’s factory activity shrinks as China’s slump, global slowdown weigh

TOKYO: Asia’s factory activity shrank in July, private surveys showed on Tuesday, a sign slowing global growth and...

Published 01 Aug, 2023 09:50am

Business & Finance

Indonesia’s July inflation rate slows to 3.08% y/y

JAKARTA: Indonesia’s annual inflation rate cooled further to 3.08% in July, moving closer to the middle of the...

Published 01 Aug, 2023 09:48am

Bullion Rate

Gold subdued on dollar strength as markets await economic data

Gold prices edged lower on Tuesday as the US dollar climbed, while investors looked forward to key economic data...

Published 01 Aug, 2023 09:46am

Govt has settled KE dispute, reduced circular debt: minister

ISLAMABAD: The coalition government of Pakistan Muslim League-Nawaz (PML-N), on Monday, claimed that it settled...

Updated 01 Aug, 2023 09:42am

Stocks

Indian shares open flat; earnings awaited

BENGALURU: Indian shares barely inched up on Tuesday, after a positive start to the week ahead of major quarterly...

Published 01 Aug, 2023 09:41am

CPEC plays vital role in addressing power outages: PM

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday said the China-Pakistan Economic Corridor (CPEC) played a very...

Updated 01 Aug, 2023 09:41am

Purchase of USD for card payments facility extended by 5 months

KARACHI: The State Bank of Pakistan (SBP) has decided to extend settlement of card-based cross-border transactions...

Updated 01 Aug, 2023 09:39am

Stocks

Australian shares edge higher ahead of RBA meeting; commodity stocks shine

Australian shares edged higher on Tuesday, helped by commodity stocks, as market participants focussed on the...

Published 01 Aug, 2023 09:39am

Forex

Yen eases to 3-week low as traders weigh BOJ shift; focus on RBA

SINGAPORE: The yen slipped to a fresh three-week low on Tuesday as traders pondered the Bank of Japan’s steps last...

Published 01 Aug, 2023 09:36am

FBR wing unearths Rs1.2bn tax fraud scheme

KARACHI: The Directorate of Internal Audit-Inland Revenue-FBR Karachi has made a significant breakthrough in...

Updated 01 Aug, 2023 09:26am

Project-to-project basis: Developers and builders to pay advance tax: FBR

ISLAMABAD: The new advance tax imposed on developers and builders would be paid on a project-to-project basis. The...

Updated 01 Aug, 2023 09:24am

Flood relief: $10.33bn loans, $550m grants received

ISLAMABAD: Pakistan has received $ 10.33 billion out of $ 10.953 billion as loans and $ 550.4 million in grants for...

Updated 01 Aug, 2023 09:14am

Settlement of dues of IPPs/GPPs: FD seeks expenditure details of Rs601bn extended to PD

ISLAMABAD: The Finance Division has sought expenditure details of Rs 601 billion extended to the Power Division to...

Updated 01 Aug, 2023 09:13am

Six MoUs inked with China

ISLAMABAD: Pakistan and China, on Monday, signed six memorandums of understanding (MoUs) to further enhance...

Updated 01 Aug, 2023 09:12am

Pakistan’s imports of Russian crude face port, refinery, currency constraints

KARACHI: Pakistan is unlikely to meet a target for Russian crude to make up two-thirds of its oil imports, despite...

Updated 01 Aug, 2023 08:56am

Amjad Tiwana likely to become FBR Chairman

ISLAMABAD: The government has decided to appoint Amjad Zubair Tiwana, Federal Board of Revenue (FBR) Member Inland...

Updated 01 Aug, 2023 08:55am

BR’s refresher: your morning briefing for the day

Important updates from July 31, 2023

Published 01 Aug, 2023 08:35am

BR Research

MPC surprise

SBP has kept the interest rates unchanged at 22 percent. That was a surprise for a few, as the general expectations...

Published 01 Aug, 2023 08:29am

BR Research

Oil bull run brews trouble for Pakistan

Oil bulls are back in business as Saudi led Opec Plus decisions are finally making an impact – leading to fourth...

Published 01 Aug, 2023 08:28am

BR Research

Siemens (Pakistan) Engineering

Siemens (Pakistan) Engineering (PSX: SIEM) was incorporated in Pakistan as a public limited company in 1953. The...

Published 01 Aug, 2023 08:26am

Opinion

‘Your network is your net worth’

People love to belong. They feel it gives them status, security, opportunity for upward or lateral mobility. Some...

Updated 01 Aug, 2023 06:45am

Opinion

Reducing rising electricity tariff? — III

In the previous space, we focused on immediate financial restructuring solutions for enabling reduction in...

Updated 01 Aug, 2023 06:43am

Opinion

Bajaur atrocity

Pakistan’s long standing affliction of religious extremist terrorism is far from over. In Khar, Bajaur, Khyber...

Updated 01 Aug, 2023 06:39am

Opinion

IMF’s SBF

The IMF Stand-By Facility (SBF) of $3 billion has been in operation for two weeks now. Already, there is a big...