News Archives for Latest - 2023-08-04

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Archive - 2023-08-04

Pakistan

PBC appoints new leadership, Shabbir Diwan becomes new chairman

In line with its tradition, the Pakistan Business Council (PBC) has appointed a new leadership for the next 18...

Updated 05 Aug, 2023 02:06am

Companies

Sixth time in 2023: Atlas Honda jacks up motorcycle prices in Pakistan

Increase as high as Rs20,000, applicable from August 5

Updated 05 Aug, 2023 02:05am

World

Trump presidential rival Christie visits Ukraine, meets Zelenskiy

Republican presidential candidate Chris Christie met with Ukrainian President Volodymyr Zelenskiy in Kyiv on Friday...

Published 04 Aug, 2023 11:24pm

Pakistan

Pakistan needs peace, unity to achieve progress, prosperity: PM Shehbaz

Says government saved Pakistan from default

Published 04 Aug, 2023 10:58pm

World

China to attend talks on Ukraine in Saudi Arabia that exclude Russia

BRUSSELS: China on Friday said it would send a senior official to Saudi Arabia for weekend talks on finding a...

Published 04 Aug, 2023 10:50pm

Europe

Ukraine attack hits Russian warship at Black Sea base

KYIV: Ukraine carried out a drone strike on a Russian navy ship at a Black Sea base, a Ukraine security source told...

Published 04 Aug, 2023 10:41pm

Stocks

UK’s FTSE 100 boosted by energy stocks but logs weekly decline

UK’s FTSE 100 snapped a three-session losing streak on Friday, buoyed by gains in energy stocks, while WPP shares...

Published 04 Aug, 2023 10:02pm

Stocks

Wall St rises on Amazon boost; bond yields fall

Wall Street rose and bond yields fell on Friday after July jobs data showed a slowing in the U.S. labor market with...

Published 04 Aug, 2023 09:59pm

Stocks

European stocks end higher but mark first weekly loss in four

European stocks steadied on Friday, after a three-day selloff, as some upbeat earnings as well as U.S. jobs data...

Published 04 Aug, 2023 09:52pm

Energy

Reforms in energy sector: high-level huddle ‘finalises’ framework to bring sustainability

Finance Minister Ishaq Dar chairs the meeting aimed to reduce the sector's circular debt

Published 04 Aug, 2023 09:23pm

Sports

Asian Hockey Champions Trophy: Pakistan-Korea match ends in draw

Pakistan to face Japan in their third match on Sunday

Published 04 Aug, 2023 08:40pm

Pakistan

Army chief meets squash prodigy Hamza, pledges to help sports flourish

COAS Munir congratulates Hamza for bringing honour to the country

Published 04 Aug, 2023 08:08pm

Pakistan

PM Shehbaz proposes parliament dissolution on August 9

ISLAMABAD: Prime Minister Shehbaz Sharif proposed that parliament be dissolved on August 9, three days before the...

Updated 04 Aug, 2023 07:57pm

Business & Economy

Senate passes financial crimes authority bill

Its aim is to continue govt's work to keep Pakistan off FATF grey list, says Hina Rabbani Khar

Updated 04 Aug, 2023 07:56pm

Pakistan

Toshakhana reference: IHC sets aside sessions court’s maintainability verdict

Rejects PTI chairman’s appeal to transfer case to another court

Updated 04 Aug, 2023 07:55pm

Forex

Back-to-back gains: rupee settles at 286.97 against US dollar

Currency appreciates 0.08% in inter-bank market

Updated 04 Aug, 2023 07:54pm

Stocks

KSE-100 closes marginally lower, but still posts 3% gain week-on-week

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index edged lower on Friday in a mixed session. However, the...

Published 04 Aug, 2023 07:53pm

Movies & Music

Hareem Farooq opens up on her career’s ‘struggle’, how she still powered through

Pakistan actor Hareem Farooq said she has had to power through her career as there were times when she felt the urge...

Published 04 Aug, 2023 07:21pm

Africa

France says only ‘legitimate’ Niger government can cut military ties

PARIS: France on Friday rejected the Niger junta’s move to scrap bilateral military pacts, saying the West African...

Published 04 Aug, 2023 06:54pm

Pakistan

PM Shehbaz launches Salam-Pakistan brand, e-Portal to promote tourism

Pakistan’s scenic beauty can be turned into a great opportunity, says PM

Updated 04 Aug, 2023 06:51pm

Europe

Erdogan eyes Putin visit after grain deal collapse

ISTANBUL: President Recep Tayyip Erdogan on Friday said he still hoped that Russian leader Vladimir Putin would...

Published 04 Aug, 2023 06:47pm

Pakistan

Dar announces Rs2mn compensation for families of Bajaur blast victims

Federal Minister for Finance and Revenue Senator Ishaq Dar on Friday announced that the government would pay Rs2...

Published 04 Aug, 2023 06:28pm

South Asia

Mosques shut after religious riots near India’s capital

NEW DELHI: Most mosques were shut for Friday prayers in an important business hub on the outskirts of India’s...

Published 04 Aug, 2023 06:19pm

Cricket

England batsman Hales retires from international cricket

Hales, a white-ball specialist, scored 2,419 runs in 67 ODI innings

Published 04 Aug, 2023 06:00pm

Europe

No explosives found on Zaporizhzhia nuclear plant rooftops: IAEA

VIENNA: The UN’s atomic watchdog said Friday it has observed no mines or explosives at the site of Ukraine’s...

Published 04 Aug, 2023 05:55pm

South Asia

3 killed, 16 missing in India landslide

DEHRADUN: At least three people were killed and 16 more were missing after a landslide swept away shops in the...

Published 04 Aug, 2023 05:53pm

Energy

OPEC+ panel meets against backdrop of a stronger oil market

LONDON/DUBAI: An OPEC+ ministerial panel which meets on Friday is unlikely to tweak the group’s current oil output...

Published 04 Aug, 2023 05:47pm

Europe

Ukraine says Russia planning ‘false flag’ attack at Belarus refinery

KYIV: The Security Service of Ukraine accused Russia on Friday of preparing to stage a “false flag” attack at the...

Published 04 Aug, 2023 05:44pm

Perspectives

Karachi to Khanaspur: road-tripping across Pakistan

Pakistan having one of the weakest passports in the world and a fast-weakening currency are not the only reasons not...

Published 04 Aug, 2023 05:33pm

Commodities

Asia Gold: China premiums rise further on robust demand, India market soft

Premiums on physical gold in China hit a near five-month peak this week on strong retail demand in the top consumer,...

Published 04 Aug, 2023 05:35pm

Technology

India to consider proposal to delay import licence order for laptops, tablets

NEW DELHI: The Indian government is likely to decide “soon” on an industry proposal to delay a plan to require...

Published 04 Aug, 2023 05:31pm

Energy

Oil prices rise, set for sixth weekly gain on extended supply cuts

LONDON: Oil prices were on track for a sixth week of gains after Saudi Arabia and Russia, the world’s second and...

Updated 04 Aug, 2023 05:25pm

Stocks

Indian shares post weekly losses despite Friday’s rise

BENGALURU: Indian shares closed higher on Friday, led by a bounceback in information technology (IT) stocks after...

Published 04 Aug, 2023 05:21pm

Commodities

Copper slips on firm dollar ahead of US data, China worries

LONDON: Copper prices retreated on Friday, weighed down by a firmer dollar ahead of U.S. jobs data and persistent...

Published 04 Aug, 2023 05:19pm

Commodities

Palm gains but logs second weekly decline on higher output, stocks

KUALA LUMPUR: Malaysian palm oil futures ended higher on Friday, but clocked a second weekly loss as forecast of...

Published 04 Aug, 2023 05:16pm

Movies & Music

Striking Hollywood writers, studios meet to discuss resuming talks

LOS ANGELES: As the Hollywood writers’ strike approaches the 100-day mark, Writers Guild of America (WGA)...

Published 04 Aug, 2023 04:37pm

Middle East

Israeli forces kill Palestinian youth during West Bank raid

TULKARM: Israeli forces shot dead an 18-year-old Palestinian during a raid in the occupied West Bank on Friday, the...

Published 04 Aug, 2023 03:28pm

South Asia

India’s Supreme Court suspends Rahul Gandhi’s defamation conviction

NEW DELHI: The Supreme Court of India on Friday suspended opposition Congress party leader Rahul Gandhi’s conviction...

Updated 04 Aug, 2023 03:09pm

Movies & Music

Singer Lizzo denies creating hostile environment for dancers

Grammy-winning singer Lizzo on Thursday denied claims made in a lawsuit filed by three of her former dancers that...

Published 04 Aug, 2023 02:19pm

Stocks

UK’s FTSE 100 opens lower as miners fall; headed for weekly losses

UK’s FTSE 100 opened lower on Friday, with mining firms down and WPP falling after reducing its full-year outlook,...

Published 04 Aug, 2023 02:14pm

Pakistan

Toshakhana case: Supreme Court dismisses Imran Khan’s plea

Says trial court could not reserve its verdict on the Toshakhana case until the Islamabad High Court gave its verdict

Published 04 Aug, 2023 02:00pm

Stocks

European stocks steady after three-day selloff

European stocks steadied on Friday after a three-day selloff as a strong forecast from retail giant Amazon and a...

Published 04 Aug, 2023 01:54pm

Africa

Ethiopia declares state of emergency following militia clashes

ADDIS ABABA: Ethiopia’s federal government on Friday declared a state of emergency following days of clashes in the...

Published 04 Aug, 2023 01:52pm

Forex

Russian rouble recovers after Thursday’s drop

The Russian rouble firmed in early trade on Friday after what market players say was an unusual bout of weakness...

Published 04 Aug, 2023 01:47pm

Forex

South African rand stable after losing 6% this week; US payroll awaited

JOHANNESBURG: The South African rand was stable in early trade on Friday, after tumbling over 6% this week on...

Published 04 Aug, 2023 01:45pm

Europe

Denmark to tighten border control after Holy Quran burnings

OSLO: Danish police are tightening border controls following recent burnings of the Holy Quran that have affected...

Updated 04 Aug, 2023 01:43pm

Financial

China, Saudi in talks for ETF cross-listings to bolster financial ties

HONG KONG: China and Saudi Arabia’s stock exchanges are in talks to allow exchange-traded funds (ETFs) to list on...

Published 04 Aug, 2023 01:38pm

Technology

TikTok in talks to gain Indonesian payments licence

JAKARTA: TikTok told Reuters it is in early-stage talks with regulators to obtain a payments licence in Indonesia, a...

Published 04 Aug, 2023 01:31pm

Technology

High fuel prices are changing the landscape of ride-hailing: how are the players responding

The government, as its parting gift, increased petrol and high-speed diesel prices by nearly 8% in one go. Petrol...

Published 04 Aug, 2023 01:03pm

Commodities

Copper heads for a flat week, focus on US data, China demand

BEIJING: London copper traded in a tight range on Friday ahead of the US employment report, while prices were almost...

Published 04 Aug, 2023 12:08pm

Forex

Australia, NZ dollars head for third week of declines

SYDNEY: The Australian and New Zealand dollars were headed for a third consecutive week of declines on Friday,...

Published 04 Aug, 2023 12:05pm

Mutual Funds

Japan’s 10-year bond yield falls amid supply shortage

TOKYO: Japan’s 10-year government bond yield fell on Friday as investor demand for the paper rose amid a shortage of...

Published 04 Aug, 2023 11:59am

Bullion Rate

Gold set for worst week in six as US yields surge before jobs data

Gold prices looked set to post their worst week in six on Friday as investors braced for a closely watched US jobs...

Published 04 Aug, 2023 11:57am

Sports

Thiem closes in on first final in three years

KITZBÜHEL: Injury-plagued Dominic Thiem on Thursday moved to within just one victory of reaching a first ATP final...

Published 04 Aug, 2023 11:39am

USA

Trump avoids Jack Smith’s eye in Washington courtroom

WASHINGTON: Donald Trump stood with his arms by his sides Thursday as he faced a federal judge in Washington to...

Published 04 Aug, 2023 11:37am

Technology

Amazon and Apple beat earnings forecasts as they polish AI skills

SAN FRANCISCO: Amazon and Apple on Thursday reported earnings that topped market expectations, aiming for even...

Published 04 Aug, 2023 11:19am

Stocks

Hong Kong stocks open higher

HONG KONG: Hong Kong stocks rallied more than one percent in Friday’s opening minutes following three days of...

Published 04 Aug, 2023 11:12am

Sports

FIFA investigates misconduct claim involving Zambia World Cup team

SYDNEY: FIFA said Friday it was investigating a misconduct complaint involving the Zambian team at the Women’s World...

Published 04 Aug, 2023 11:10am

Sports

Pegula advances but rain puts Fritz-Murray on hold in Washington

WASHINGTON: Top-seeded Jessica Pegula reached her eighth WTA quarter-final of the year on Thursday, but the...

Published 04 Aug, 2023 10:59am

Europe

Russian defence minister inspects combat zone in Ukraine: army

MOSCOW: Russian Defence Minister Sergei Shoigu has visited a combat zone in Ukraine to inspect a command post and...

Published 04 Aug, 2023 10:56am

Europe

Putin foe Navalny expects to be jailed for many more years

MOSCOW: Russian opposition politician Alexei Navalny expects a court to extend his prison sentence by nearly two...

Published 04 Aug, 2023 10:52am

Asia

Floodwaters rise in China’s northeast as rains lash Heilongjiang province

BEIJING: As residual rain from a typhoon drifted to northeast China, Heilongjiang province on Friday warned of...

Published 04 Aug, 2023 10:48am

Financial

Citigroup’s Asia family office clients poised to grow 25% in 2023

HONG KONG: Citigroup’s Asia family office business expects a 25% increase in clients this year, the US bank’s...

Published 04 Aug, 2023 10:43am

Mutual Funds

India bond yields may move upwards before debt supply, US peers hurt

MUMBAI: Indian government bond yields are expected to rise in the early session on Friday, ahead of a fresh supply...

Published 04 Aug, 2023 10:35am

Forex

Indian rupee likely to remain under pressure on rising US yields

MUMBAI: The Indian rupee is expected to remain under pressure on Friday after longer maturity US yields reached the...

Published 04 Aug, 2023 10:31am

Commodities

Palm oil rebounds but on course for second weekly decline

KUALA LUMPUR: Malaysian palm oil futures rose on Friday from a one-month closing low in the previous session,...

Published 04 Aug, 2023 10:28am

Sports

Riise mum on Hegerberg playing Japan, says Norway has luxury of options in attack

Norway coach Hege Riise said injured striker Ada Hegerberg is responding well in training ahead of their Women’s...

Published 04 Aug, 2023 10:26am

Sports

Injured Tamim steps down as Bangladesh ODI captain, to miss Asia Cup

DHAKA: Tamim Iqbal has stepped down as Bangladesh one day international (ODI) captain and will miss the Asia Cup as...

Published 04 Aug, 2023 10:13am

Financial

Philippine central bank ready to tighten policy if needed

MANILA: The Philippine central bank said it was ready to tighten monetary policy as necessary to keep a lid on price...

Published 04 Aug, 2023 10:10am

Forex

Asian FX trades in tight range, Philippine peso at 3-week low

Emerging Asian currencies were trading cautiously on Friday ahead of a key US jobs report that may provide clues on...

Published 04 Aug, 2023 10:07am

Business & Finance

Slower, but still strong US employment growth expected in July

WASHINGTON: US job growth likely slowed further in July, but retained enough momentum to shield the economy from a...

Published 04 Aug, 2023 10:03am

FATF’s grey and black lists: Bill aimed at fully insulating country passed

National Assembly passes the National Anti-Money Laundering and Counter Financing of Terrorism Authority Bill, 2023

Updated 04 Aug, 2023 10:00am

Rs976bn set aside for power sector, PD official tells NA panel

ISLAMABAD: Power Division Secretary Rashid Mehmood Langrial has stated that the government has allocated Rs976...

Updated 04 Aug, 2023 09:58am

PM says areas prioritised for investment under SIFC

ISLAMABAD: A group of prominent Pakistani-American businessmen and entrepreneurs, who are currently visiting...

Updated 04 Aug, 2023 09:57am

Exporters trapped in GST refunds: TMA urges govt to restore SRO 1125(I)/2011 in true letter and spirit

KARACHI: Senior Vice Chairman of the Towel Manufacturers Association of Pakistan Syed Usman Ali has expressed severe...

Updated 04 Aug, 2023 09:56am

Europe

Ukraine attacks Russian navy base near Novorossiysk

Ukrainian sea drones attacked a Russian navy base near the Black Sea port of Novorossiysk, a major hub for Russian...

Published 04 Aug, 2023 09:56am

Stocks

Australian shares flat as miners counter losses in tech

Australian shares struggled for momentum on Friday as gains in miners and financials countered losses in tech and...

Published 04 Aug, 2023 09:49am

Forex

Dollar struggles before payrolls test; Aussie rebounds

TOKYO: The dollar hung back from a four-week high against major peers on Friday as investors looked ahead to a key...

Published 04 Aug, 2023 09:47am

Stocks

Indian shares open higher tracking Asian peers

BENGALURU: Indian shares opened higher on Friday, tracking Asian peers on hopes of measures to support the economic...

Published 04 Aug, 2023 09:43am

Stocks

Japan’s Nikkei edges lower amid caution ahead US payroll data

TOKYO: Japan’s Nikkei share average inched lower on Friday, as investors were cautions ahead of the release of US...

Published 04 Aug, 2023 09:41am

Sports

Swiss brush up offence plan for knockout World Cup game vs Spain

Switzerland kept a clean sheet through the group stage of the Women’s World Cup but only scored two goals through...

Published 04 Aug, 2023 09:39am

Commodities

Australia welcomes end of Chinese barley tariffs

SYDNEY: Australia on Friday said it welcomed China’s decision to lift duties on Australian barley and would drop its...

Published 04 Aug, 2023 09:34am

Bhara Kahu bypass project: PM praises role of army chief

ISLAMABAD: Prime Minister Shehbaz Sharif has inaugurated Bhara Kahu Bypass project and completion of the project...

Updated 04 Aug, 2023 09:34am

Stocks

Asian shares rise as investor focus turns to US payrolls

SINGAPORE: Asian shares rose on Friday, while the dollar pulled back from a one-month peak as investors took stock...

Published 04 Aug, 2023 09:33am

All-time high rice exports likely

KARACHI: The country’s rice export fell sharply, ie, 14 percent during the last fiscal year (FY23) due to lower crop...

Updated 04 Aug, 2023 09:33am

Major reshuffle in FBR

ISLAMABAD: After assuming charge of the new Chairman Federal Board of Revenue (FBR), Malik Amjad Zubair Tiwana has...

Updated 04 Aug, 2023 09:07am

Pakistan, Iran chalk out $5bn trade plan

ISLAMABAD: Pakistan and Iran expressed the resolve to increase bilateral trade to $5 billion under a five-year...

Updated 04 Aug, 2023 09:06am

Valuation, assessment: FTO directs DGCV to accurately classify imported cellphones

ISLAMABAD: The Federal Tax Ombudsman (FTO) has directed the Directorate General Customs Valuation (DGCV) Karachi to...

Updated 04 Aug, 2023 08:48am

BR’s refresher: your morning briefing for the day

Important updates from August 3, 2023

Published 04 Aug, 2023 08:43am

BoE hikes rate 14th time in row

LONDON: The Bank of England on Thursday hiked its key interest rate for a 14th time in a row, by a quarter-point to...

Updated 04 Aug, 2023 08:41am

‘Issues of concern’: US backs direct Pakistan-India dialogue

WASHINGTON: The United States has said that it supports direct dialogue between Pakistan and India on “issues of...

Updated 04 Aug, 2023 08:41am

BR Research

Siren song

Imagine for a moment, an industry whose market size has been halved within a span of a single year despite new ...

Published 04 Aug, 2023 08:18am

BR Research

Wholesale price hike: Far from over

If petroleum does not do it, electricity will. That has been the story of wholesale prices for a while as WPI index...

Published 04 Aug, 2023 08:25am

BR Research

Gatron (Industries) Limited

Gatron (Industries) Limited (PSX: GATI) was incorporated in Pakistan as a public limited company in 1980. The...

Published 04 Aug, 2023 08:18am

Business & Finance

‘Business activities catalyst to ensure prosperous Pakistan’

KARACHI: “Pakistan can progress, sustain, and achieve a peaceful environment if business is provided an enabling...

Updated 04 Aug, 2023 07:04am

Opinion

Debt, weak multilateralism, and austerity

The number of developing countries having high debt levels, that is having public debt more than 60 percent of their...

Updated 04 Aug, 2023 06:53am

Opinion

The corruption challenge

The Federal Board of Revenue (FBR) issued regulations granting banks access to asset declarations of high-level...

Updated 04 Aug, 2023 06:43am

Editorials

Textile exports: where does Pakistan stand?

EDITORIAL: Insofar as the enormity of Pakistan’s economic (balance of payments and manufacturing) challenges is...