News Archives for Latest - 2023-08-08

Europe

Berlin ready to extend Patriot air defence deployment to Poland until end of 2023

BERLIN: Germany has offered to Poland extending the deployment of three Patriot air defence units until the end of...

Published 08 Aug, 2023 11:11pm

Pakistan

PM launches Rs377bn project to convert 100,000 agriculture tube wells on solar power

Shehbaz says low-cost power supply is inevitable to make Pakistan's exports competitive

Updated 08 Aug, 2023 10:45pm

Pakistan

PM Shehbaz says summary for NA dissolution to be sent to President Alvi tomorrow

Premier says the caretaker setup will take over after the assembly is dissolved

Updated 08 Aug, 2023 10:44pm

World

Russia criticises 'unacceptable' Western pressure on Iran over nuclear deal

Russia on Tuesday aligned itself with its ally Iran in rejecting Western attempts to maintain curbs on Iran despite...

Published 08 Aug, 2023 10:36pm

Pakistan

PM Shehbaz announces to auction all Toshakhana gifts

Says the proceeds will be used to support orphan children

Published 08 Aug, 2023 10:30pm

Pakistan

IHC allows lawyers to meet Imran Khan

PTI chief's lawyer says jail authorities express inability to obey court orders

Published 08 Aug, 2023 09:50pm

Pakistan

Ministers expect delay in elections due to ‘constitutional requirements’

Interior Minister claims 2023 is not an election year

Updated 08 Aug, 2023 09:44pm

Stocks

UK’s FTSE 100 dragged down by miners, financial stocks

Britain’s FTSE 100 closed lower on Tuesday, weighed down by declines in the mining sector after Glencore’s earnings...

Published 08 Aug, 2023 09:19pm

Stocks

Wall St falls as Moody’s bank downgrades spark broad sell-off

Wall Street tumbled on Tuesday in a broad sell-off led by financial stocks after Moody’s downgraded several U.S....

Published 08 Aug, 2023 09:22pm

Forex

Rupee registers back-to-back losses, settles at 287.91 against US dollar

Currency depreciates 0.17% in inter-bank market

Updated 08 Aug, 2023 09:32pm

Companies

Moody’s says US banks are still strong despite downgrades

NEW YORK: Ratings agency Moody’s said the U.S. banking sector is still strong even after it downgraded several small...

Published 08 Aug, 2023 09:31pm

Energy

Oil slips as weak China data offsets tightening supply

NEW YORK: Oil prices fell by about 1% on Tuesday after data showed China’s crude imports and exports fell much more...

Updated 08 Aug, 2023 09:16pm

Pakistan

ECP disqualifies Imran Khan for five years

The electoral watchdog also de-notifies Imran as 'returned candidate' from NA-45 Kurram-l

Published 08 Aug, 2023 08:57pm

Technology

Google fails to end $5 billion consumer privacy lawsuit

A U.S. judge rejected Google’s bid to dismiss a lawsuit claiming it invaded the privacy of millions of people by...

Published 08 Aug, 2023 08:05pm

Stocks

US stocks retreat following weak trade data

NEW YORK: Wall Street stocks declined early Tuesday, reversing the prior session’s gains after weak trade data added...

Published 08 Aug, 2023 08:03pm

Europe

Ukraine will mirror Russian attacks in Black Sea: Zelenskiy

KYIV: President Volodymyr Zelenskiy said in a video published on Tuesday that Ukraine would fight back against...

Published 08 Aug, 2023 07:57pm

Stocks

KSE-100 suffers dramatic fall of over 950 points

Index closes below 47,500 level as profit-taking and consolidation cited as reasons behind nearly 2% decrease

Updated 08 Aug, 2023 07:48pm

Movies & Music

Talk about pay parity when an Indian-made ‘Wonder Woman’ does as well as ‘Pathaan’: Kajol

Bollywood actor says gender balance has improved in industry over the years

Published 08 Aug, 2023 07:05pm

Business & Finance

US trade gap narrows in June on imports pullback

WASHINGTON: The US trade deficit narrowed in June on a bigger pullback in imports than exports, according to...

Published 08 Aug, 2023 06:18pm

South Asia

Indian parliament debates no-confidence motion in Modi government

NEW DELHI: India’s parliament debated a no-confidence motion against Prime Minister Narendra Modi’s government on...

Published 08 Aug, 2023 06:15pm

Movies & Music

Karan Johar on ‘Rocky Aur Rani Kii Prem Kahaani’ competing with ‘Barbenheimer’

Was really nervous because we were coming in the midst of a storm, says Bollywood filmmaker

Updated 08 Aug, 2023 06:15pm

Movies & Music

AMC sees ‘explosive start’ to third quarter on ‘Barbenheimer’ frenzy

Movie theater chain AMC Entertainment Holdings (AMC.N) said the current quarter was off to a strong start driven by...

Published 08 Aug, 2023 05:45pm

Stocks

European stock markets drop as banks hit

LONDON: European stock markets slid Tuesday, with shares in Italian banks hit hard by the announcement of a windfall...

Updated 08 Aug, 2023 05:35pm

Sports

Joshua to face Finland’s Helenius as Whyte replacement

LONDON: Anthony Joshua will fight Robert Helenius in London on Saturday after the Finnish boxer was parachuted in as...

Published 08 Aug, 2023 05:28pm

Stocks

Lucky Cement’s earnings jump 63.5%, stand at over Rs59.5bn in FY23

Dividend of Rs18 announced for fiscal year 2022-23

Updated 08 Aug, 2023 05:22pm

Pakistan

Imran Khan moves IHC against conviction in Toshakhana case

Plea says court’s order 'not sustainable'

Updated 08 Aug, 2023 05:15pm

Stocks

Indian shares slip in run up to key data, RBI policy

BENGALURU: Indian shares fell on Tuesday as caution reigned ahead of crucial data due through the week, including...

Published 08 Aug, 2023 04:58pm

Pakistan

PM Shehbaz pays farewell visit to GHQ, praises Army for service to nation

Premier praises Shuhadas, Ghazis, and their families for their contributions and sacrifices

Published 08 Aug, 2023 04:44pm

Stocks

Sri Lanka shares end higher as industrials, financials rise

BENGALURU: Sri Lankan shares closed higher on Tuesday, aided by gains in industrials and financials stocks. The CSE...

Published 08 Aug, 2023 04:56pm

Commodities

Copper skids to lowest in almost a month on Chinese trade data

LONDON: Copper prices dropped to their weakest in nearly a month on Tuesday after weak Chinese trade and auto sales...

Published 08 Aug, 2023 04:53pm

Commodities

Palm oil slumps to six-week low on poor demand, weaker rivals

KUALA LUMPUR: Malaysian palm oil futures extended losses to a second session on Tuesday, hitting their lowest in six...

Published 08 Aug, 2023 04:50pm

Industry

Govt reconstitutes Board of Investment

Board consists of 12 members representing the public sector, while 13 members represent the private sector

Published 08 Aug, 2023 04:13pm

Stocks

Hong Kong stocks sink on weak China data

HONG KONG: Hong Kong stocks finished sharply lower Tuesday as another batch of worse-than-forecast Chinese data...

Updated 08 Aug, 2023 02:50pm

Europe

Russia pins recruitment office arson attacks on Ukraine

MOSCOW: Moscow on Tuesday accused Ukraine of inciting Russians to set fire to military recruitment offices,...

Published 08 Aug, 2023 02:48pm

South Asia

Landslides, floods kill 38 so far as monsoon rains lash Nepal

KATHMANDU: Landslides caused by heavy rain have killed at least one person, and blocked a major highway in Nepal...

Published 08 Aug, 2023 01:58pm

Stocks

FTSE 100 dragged by Glencore, midcaps boosted by earnings

London’s FTSE 100 index fell on Tuesday, hurt by declines in the mining sector after Glencore’s dour first-half...

Published 08 Aug, 2023 01:47pm

Stocks

Japan’s Nikkei follows Wall St higher but earnings caution caps rise

TOKYO: Japan’s Nikkei share average rose on Tuesday, buoyed by the gains in US stocks overnight, although caution...

Updated 08 Aug, 2023 12:23pm

Forex

South African rand extends losses ahead of holiday

JOHANNESBURG: The South African rand slipped again in early trade on Tuesday, extending a run of weakness that began...

Published 08 Aug, 2023 12:19pm

Stocks

Australian shares close little changed as key inflation readings eyed

Australian shares closed little changed on Tuesday, relinquishing a substantial portion of early gains as investors...

Updated 08 Aug, 2023 12:07pm

Sports

No.1s Alcaraz, Swiatek named top seeds at Cincinnati Masters

CINCINNATI: World number ones Carlos Alcaraz and Iga Swiatek, the reigning US Open champions, were named Monday as...

Published 08 Aug, 2023 12:01pm

Sports

Real Madrid with Benzema void to fill as La Liga returns

BARCELONA: Real Madrid begin life after Karim Benzema looking to wrest back the Spanish title from Barcelona as the...

Published 08 Aug, 2023 12:00pm

Sports

Pliskova, Azarenka win WTA openers at rain-hit Montreal

MONTREAL: Former world number ones Karolina Pliskova and Victoria Azarenka advanced after rain delays on Monday’s...

Published 08 Aug, 2023 11:58am

Sports

Smith to open for Australia against South Africa in T20 career first

MELBOURNE: Steve Smith will open the batting when Australia meet South Africa in an upcoming Twenty20 series,...

Published 08 Aug, 2023 11:56am

USA

Blinken says diplomacy ‘preferred way’ to resolve Niger crisis

WASHINGTON: Diplomacy is the best option for the international community to deal with the coup crisis in Niger, US...

Published 08 Aug, 2023 11:55am

Asia

Indonesia says Myanmar solution needs ‘political will’ from all sides

JAKARTA: Indonesian President Joko Widodo on Tuesday said a resolution to the Myanmar crisis that has dragged into...

Published 08 Aug, 2023 11:36am

Sports

England survive Nigeria fright but must improve to win World Cup

SYDNEY: The best teams find a way to win when playing badly, so says the football cliche, but England will surely be...

Published 08 Aug, 2023 11:29am

Sports

Jamaica, Colombia battle for spot in World Cup quarter-finals

MELBOURNE: Two of the surprise packages of the Women’s World Cup clash when Colombia face Jamaica in Melbourne on...

Published 08 Aug, 2023 11:18am

Forex

Australia, NZ dollars under pressure as yuan skids, China trade weighs

SYDNEY: The Australian and New Zealand dollars teetered close to key support levels on Tuesday, pressured by a slide...

Published 08 Aug, 2023 11:07am

Commodities

China July copper imports at 451,159 metric tons

BEIJING: China imported 451,159 metric tons of unwrought copper and copper products in July, down 2.7% from a year...

Published 08 Aug, 2023 11:06am

Business & Finance

Turkiye imposes extra charge for some gold imports

ISTANBUL: Turkiye introduced a 20% additional charge for some gold imports, a decision published in the Official...

Published 08 Aug, 2023 11:03am

Forex

China’s yuan falls to a 3-week low as July trade data disappoints

HONG KONG: China’s yuan weakened on Tuesday against the US dollar to a three-week low, after disappointing trade...

Published 08 Aug, 2023 11:00am

Mutual Funds

India’s new 10-year bond plan pulls yields lower; RBI decision key

MUMBAI: Indian government bond yields were marginally lower in the early session on Tuesday, as the government’s...

Published 08 Aug, 2023 10:58am

Commodities

China July soybean imports up 23.5% on year

BEIJING: China imported 9.73 million metric tons of soybeans in July, up 23.5% from a year ago, customs data showed...

Published 08 Aug, 2023 10:56am

Commodities

Palm falls to near six-week low on weakening rival oils

KUALA LUMPUR: Malaysian palm oil futures slipped for a second session on Tuesday, tracking heavy losses in rival...

Published 08 Aug, 2023 10:54am

Bullion Rate

Gold tepid as dollar shows resilience ahead of US inflation print

Gold prices edged lower on Tuesday as the dollar regained some footing, with investors awaiting US inflation numbers...

Published 08 Aug, 2023 10:50am

Stocks

Indian shares open flat ahead of RBI decision, US inflation data

BENGALURU: Indian shares opened little changed on Tuesday amid caution ahead of inflation data from major economies...

Published 08 Aug, 2023 10:41am

USA

Trump argues proposed limits on 2020 election case evidence violate free speech

WASHINGTON: Donald Trump’s lawyers urged a federal judge on Monday to reject a protective order sought by...

Published 08 Aug, 2023 10:37am

South Asia

India bars makers of military drones from using Chinese parts

NEW DELHI: India in recent months has barred domestic manufacturers of military drones from using components made in...

Published 08 Aug, 2023 10:32am

Energy

China’s July crude imports up 17.0% year-on-year

BEIJING: China’s crude oil imports in July rose 17.0% year-on-year, customs data showed on Tuesday, as domestic...

Published 08 Aug, 2023 10:30am

Financial

India rate panel to dial up hawkishness even as it holds policy steady

MUMBAI: India’s monetary policy committee (MPC) is expected to maintain key rates when it meets on Thursday, but...

Published 08 Aug, 2023 10:24am

Asia

South Korea evacuates thousands of scouts ahead of typhoon

BUAN: South Korea on Tuesday started evacuating thousands of teenage participants at the World Scout Jamboree from a...

Published 08 Aug, 2023 10:20am

Stocks

Asian markets down as data shows China trade weak

SYDNEY: Asian share markets were mostly weaker on Tuesday as investors digested weaker Chinese trade data ahead of...

Published 08 Aug, 2023 10:17am

Technology

US tech groups back TikTok in challenge to Montana state ban

WASHINGTON: Two tech groups on Monday backed TikTok Inc in its lawsuit seeking to block enforcement of a Montana...

Published 08 Aug, 2023 10:13am

Europe

Ukraine says Russian missiles hit apartment, kill eight, survivors describe fiery blasts

POKROVSK: Russian missiles struck the centre of Ukraine’s Pokrovsk twice on Monday night killing eight people,...

Published 08 Aug, 2023 10:02am

Business & Finance

China’s trade slumps, threatening recovery prospects

BEIJING: China’s imports and exports fell much faster than expected in July, threatening growth prospects in the...

Published 08 Aug, 2023 09:58am

Investment task: SIFC apex body picks up the pace

PM Shehbaz Sharif chairs third meeting of the Apex Committee of Special Investment Facilitation Council to continue positive momentum to attract investment in various sectors of economy

Updated 08 Aug, 2023 09:57am

Privatisation: CCoP to add PIA to active projects’ list

ISLAMABAD: The Cabinet Committee on Privatization (CCoP) has decided to include Pakistan International Airlines in...

Updated 08 Aug, 2023 09:56am

Financial

Moody’s downgrades 10 US banks, warns of possible cuts to others

Ratings agency Moody’s downgraded the credit ratings of several US banks on Monday and warned it was reviewing the...

Published 08 Aug, 2023 09:53am

Forex

Dollar marches higher; Aussie, yuan resist weak China trade data

SINGAPORE: The dollar turned decisively higher on Tuesday as traders struggled to get a grip on the diverging growth...

Published 08 Aug, 2023 09:42am

Aug-Oct auction calendar: Govt plans to borrow Rs11.09trn from banks

KARACHI: The federal government has planned to borrow Rs 11.09 trillion from the domestic banking system during the...

Updated 08 Aug, 2023 09:41am

Pakistan

‘We’ve always used democratic tools to get our point across’: Bilawal

ISLAMABAD: Chairman Pakistan Peoples Party (PPP) and Foreign Minister Bilawal Bhutto Zardari addressing the National...

Updated 08 Aug, 2023 09:41am

NA adopts Official Secrets (Amendment) Bill, 2023

ISLAMABAD: The National Assembly on Monday passed the Official Secrets (Amendment) Bill, 2023 with majority votes as...

Updated 08 Aug, 2023 09:25am

Joint sitting of parliament passes trade dispute-, trade bodies-related bills

ISLAMABAD: The joint sitting of the parliament, on Monday, passed “The Trade Dispute Resolution Bill, 2023” to...

Updated 08 Aug, 2023 09:24am

SCBA sees ‘unconstitutional’ election delay, assails govt

ISLAMABAD: The Supreme Court Bar Association (SCBA) strongly condemned the government’s decision to hold general...

Updated 08 Aug, 2023 09:07am

Cargo terminal at East Wharf: Negotiation panel told to re-engage with AD Ports

ISLAMABAD: The Cabinet Committee on Inter-Governmental Commercial Transactions (CCoIGCT) has reviewed the progress...

Updated 08 Aug, 2023 09:06am

Army chief issues stern warning to terrorists

ISLAMABAD: Chief of Army Staff (COAS) General Asim Munir on Monday said the surge in terrorism in the recent past...

Updated 08 Aug, 2023 09:05am

BR’s refresher: your morning briefing for the day

Important updates from August 7, 2023

Published 08 Aug, 2023 08:44am

PM praises role of cos operating under CPEC

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday said the difficult time is over and Pakistan and China are...

Updated 08 Aug, 2023 08:44am

Six incentive schemes of SBP: ECC approves proposal of changes in contours

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved the State Bank of Pakistan (SBP)’s...

Updated 08 Aug, 2023 08:43am

BR Research

DISCOs’ common request

Financial viability of distribution companies is the key for the sustainability of the power transmission and...

Published 08 Aug, 2023 08:27am

BR Research

Oil sales for OMCs – Jul 23

The oil marketing sector has had weaker volumes for FY23, and that continues as we enter FY24. After falling by...

Published 08 Aug, 2023 08:25am

BR Research

MCB Bank Limited

MCB is one of the pioneers of the banking sector of Pakistan. The bank was incorporated in the private sector in...

Published 08 Aug, 2023 08:21am

Energy

SNGPL Audit Report for FY2021-22: Ogra allows Rs37m under head of board meeting, directors’ expenses

ISLAMABAD: The Sui Northern Gas Pipelines Limited (SNGPL) Audit Report for the financial year 2021-22 observed that...

Published 08 Aug, 2023 07:23am

Commodities

China corn futures up for the fourth day

BEIJING: China’s most traded corn futures closed up 0.5% on Monday, extending gains for the fourth straight ...

Published 08 Aug, 2023 07:20am

Commodities

Japan rubber futures extend losses

SINGAPORE: Japanese rubber futures fell for a fifth consecutive session on Monday, tracking losses in the Shanghai...

Published 08 Aug, 2023 07:18am

Cotton & Textile

Cotton market remains steady with low volume

LAHORE: The local cotton market on Monday remained steady and the trading volume remained low. Cotton Analyst Naseem...

Published 08 Aug, 2023 07:15am

Cotton & Textile

Cotton spot rates

KARACHI: official KCA spot rates for local dealings in Pakistan rupees on Monday (August 07, 2023)...

Published 08 Aug, 2023 07:15am

Energy

Egypt’s natural gas production declines and power cuts bite

CAIRO: Egypt’s natural gas production fell to a three-year low in the first five months of 2023, figures from the...

Published 08 Aug, 2023 07:12am

Grains

Russian wheat export prices rose last week amid strong shipments

MOSCOW: Russian wheat export prices rose last week amid geopolitical tensions, with the pace of shipments still ...

Published 08 Aug, 2023 07:11am

Commodities

PMEX daily trading report

KARACHI: On Friday at PMEX the traded value of Metals, Energy, COTS/FX and indices was recorded at PKR 26.821 ...

Published 08 Aug, 2023 07:09am

Commodities

Iron ore drops on tepid China support measures

SINGAPORE: Iron ore futures dropped on Monday, as the markets grew restless on the lack of substantial stimulus...

Published 08 Aug, 2023 07:08am

Opinion

A tired merry-go-round

Imran Khan’s conviction in the Toshakana case on August 5, 2023 and subsequent imprisonment in Attock Jail may ...