News Archives for Latest - 2023-08-09

Companies

Jazz announce as winner of 2nd ‘IFC-PBC Employer of Choice’ Gender Diversity Awards

KARACHI: Jazz, a multi-sector telecom provider, was announced as the winner of the second “Employer of Choice”...

Updated 10 Aug, 2023 05:22pm

Pakistan

National Assembly stands dissolved as President Alvi approves summary

PM Shehbaz to meet Opposition Leader Raja Riaz on Thursday to finalise the caretaker prime minister's name

Updated 10 Aug, 2023 12:19am

Pakistan

Last day of govt: Shehbaz announces incentives package for overseas Pakistanis

The outgoing PM hopes the upcoming government will continue its implementation

Updated 09 Aug, 2023 10:53pm

World

Germany arrests military officer suspected of spying for Russia

BERLIN: German prosecutors have arrested an officer of the military procurement agency on suspicion of passing ...

Published 09 Aug, 2023 10:51pm

Europe

Two dead after Russian attack on residential area in Ukrainian city of Zaporizhzhia: local official

Russia attacked a residential area in the Ukrainian city of Zaporizhzhia on Wednesday evening, a local official ...

Published 09 Aug, 2023 10:40pm

Sports

India knock Pakistan out of Asian Hockey Champions Trophy with 4-0 win

India finish as table toppers after group-stage encounters

Published 09 Aug, 2023 10:03pm

Stocks

Stock markets waver after weak China data

LONDON: Global stock markets fluctuated Wednesday with Wall Street sinking after European bourses rebounded, with a...

Published 09 Aug, 2023 09:28pm

Pakistan

US says watching Pakistan political unrest with ‘concern’

WASHINGTON: The United States said Wednesday it was watching with concern the prospect of election violence in...

Published 09 Aug, 2023 09:23pm

Pakistan

In farewell cabinet address, PM Shehbaz praises coalition partners for stabilising economy

Premier hopes the incoming governments will continue economic initiatives started by his regime

Updated 09 Aug, 2023 09:20pm

Money & Banking

Agri financing: NBP, BoP, U Bank emerge among top creditors

Agri financing registers growth of over 25% year-on-year

Updated 09 Aug, 2023 09:19pm

Pakistan

Imran’s transfer to Adiala Jail: IHC seeks responses from federal, Punjab govts

Adjourns hearing till Friday

Updated 09 Aug, 2023 09:18pm

Pakistan

IHC turns down Imran's request for sentence suspension

Court refuses to immediately end the sentence

Updated 09 Aug, 2023 09:17pm

Stocks

KSE-100 gains nearly 800 points on oil and gas sector reports

Buying spree takes index nearly 1.7% higher

Updated 09 Aug, 2023 09:16pm

Stocks

S&P 500 edges down ahead of Disney results, inflation data

NEW YORK: Wall Street stocks were modestly lower early Wednesday ahead of Disney results and inflation data that...

Published 09 Aug, 2023 07:34pm

Middle East

Saudi embassy in Iran resumes work after seven years: state media

TEHRAN: Saudi Arabia’s embassy in Tehran has resumed operations, state media in Iran reported Wednesday, following a...

Published 09 Aug, 2023 06:43pm

South Asia

Iran says it has technology to build supersonic cruise missile

DUBAI: Iran said on Wednesday it has the technology to build supersonic cruise missile, Iranian state media...

Published 09 Aug, 2023 06:19pm

Travel

Rising prices for travel do not appear to be curbing wanderlust

LONDON/CHICAGO/NEW YORK: The post-pandemic travel boom and the high ticket prices that come with it show no signs of...

Published 09 Aug, 2023 06:17pm

Forex

Rupee sees marginal improvement, settles at 287.46 against US dollar

Currency appreciates 0.16% in inter-bank market

Updated 09 Aug, 2023 06:15pm

Movies & Music

Ranveer Singh replaces Shah Rukh Khan for 3rd iteration of ‘Don’

Farhan Akhtar's franchise movie is slated for release in 2025

Updated 09 Aug, 2023 06:13pm

Pakistan

Railways’ workers suspended after deadly Pakistan train crash

ISLAMABAD: Six railway workers including track maintenance staff have been suspended after a train crash in southern...

Published 09 Aug, 2023 05:54pm

Sports

India-Pakistan clash on October 14 as ICC announces revised schedule for World Cup 2023

Schedule for Pakistan vs Sri Lanka match also changed

Published 09 Aug, 2023 05:43pm

Technology

IBM to launch Meta’s Llama 2 on watsonx AI platform for businesses

International Business Machines said on Wednesday it would host Meta Platforms’ artificial intelligence language...

Published 09 Aug, 2023 05:49pm

Sports

Pakistan announce squads for Asia Cup, Afghanistan series

Saud Shakeel to leave squad after Afghanistan ODIs

Published 09 Aug, 2023 04:52pm

Money & Banking

Turkiye net FX reserves seen rising again as policy U-turn continues

ANKARA: Turkiye’s net foreign exchange reserves surged nearly $5 billion last week, with total reserves up almost $2...

Published 09 Aug, 2023 04:56pm

Companies

India’s Tata Capital plans to raise 280bn rupees via debt in FY24

MUMBAI: India’s Tata Capital plans to raise 280 billion rupees ($3.38 billion) mainly through debt instruments and...

Published 09 Aug, 2023 04:49pm

Energy

Oil hits new highs as tighter supply offsets China demand concern

LONDON: Oil hit new peaks on Wednesday with Brent crude touching the highest since April as tighter supply owing to...

Updated 09 Aug, 2023 04:40pm

Stocks

Indian shares settle higher ahead of RBI’s policy decision

BENGALURU: Indian shares advanced on Wednesday, powered by metal stocks, ahead of the Reserve Bank of India’s (RBI)...

Published 09 Aug, 2023 04:38pm

Stocks

Sri Lanka shares end lower as industrials fall

BENGALURU: Sri Lankan shares closed lower on Wednesday, dragged by losses in industrials stocks. The CSE All Share...

Published 09 Aug, 2023 04:36pm

Commodities

Copper bounces on stimulus bets after China sinks into deflation

LONDON: Copper prices recovered on Wednesday from a one-month low after data showing China fell into deflation...

Published 09 Aug, 2023 04:33pm

Commodities

Palm ends two-day slump ahead of MPOB data

KUALA LUMPUR: Malaysian palm oil futures extended early gains on Wednesday, snapping two straight sessions of losses...

Published 09 Aug, 2023 04:31pm

Pakistan

5 people injured in grenade attack in Quetta

The injured included a woman and two police officials

Updated 09 Aug, 2023 04:22pm

Opinion

Underutilisation of remittances in economy

Don’t count your chicken before they hatch is an idiom that goes quite well with our situation. Quite often we see...

Updated 09 Aug, 2023 03:58pm

Sports

BCCI makes $1.5bn surplus in five years

NEW DELHI: India’s cricket board earned a surplus of around $1.5 billion in the five years to 2021-22, the country’s...

Published 09 Aug, 2023 03:21pm

Europe

Forty-one dead in migrant shipwreck in central Mediterranean

ROME: Forty-one migrants died in a shipwreck last week in the central Mediterranean, the Ansa news agency reported...

Published 09 Aug, 2023 02:46pm

South Asia

India succeeds in reducing emissions rate by 33% over 14 years

NEW DELHI: India’s greenhouse emissions rate dropped by a faster-than-expected 33% in 14 years as renewable energy...

Published 09 Aug, 2023 02:43pm

Europe

Eleven feared dead in fire at holiday home for disabled people in France

PARIS: Eleven people were feared to have been killed in a fire in a holiday home for disabled people in eastern...

Published 09 Aug, 2023 02:40pm

Movies & Music

Tory Lanez sentenced to 10 years for shooting Megan Thee Stallion

LOS ANGELES: Canadian rapper Tory Lanez, convicted of shooting US artist Megan Thee Stallion in the feet during a...

Published 09 Aug, 2023 02:32pm

Real Estate

Britain’s Bellway says new home sales to fall ‘materially’

Britain’s Bellway said on Wednesday it would build fewer homes this year and warned that it expects sales...

Published 09 Aug, 2023 01:35pm

Movies & Music

Everybody hurts: Los Angeles suffers as Hollywood strike hits 100 days

BURBANK, United States: In his dry cleaning shop near the Warner Bros. and Disney studios, Tom Malian looks in...

Published 09 Aug, 2023 01:32pm

Companies

Pharma company Sanofi-Aventis Pakistan changes name to Hoechst Pakistan Limited

Change is subject to applicable corporate and regulatory approvals and completion of necessary legal formalities under applicable laws

Published 09 Aug, 2023 01:20pm

Commodities

MARI reports highest-ever profit of Rs56.13bn in FY23

Profit was up 70% year-on-year

Published 09 Aug, 2023 12:55pm

Imran Khan moves IHC against trial court’s order

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) Chairman Imran Khan on Tuesday requested the Islamabad High Court (IHC) to...

Updated 09 Aug, 2023 12:48pm

Stocks

London stocks open higher; mid-caps rally on TP ICAP’s strong earnings

UK shares opened higher on Wednesday led by Coca-Cola HBC after the bottler’s upbeat annual revenue outlook, while...

Published 09 Aug, 2023 12:48pm

Business & Finance

Adani Enterprises weighs exiting $6bn Wilmar venture

India’s Adani Enterprises is exploring selling its stake in its consumer-staple joint venture with Wilmar...

Published 09 Aug, 2023 12:39pm

Companies

Honda posts 78% jump in Q1 operating profit

TOKYO: Japan’s Honda Motor reported a 78% rise in quarterly profit on Wednesday, boosted by both increased sales,...

Published 09 Aug, 2023 12:36pm

Stocks

Japan’s Nikkei snaps 3 sessions of gains as SoftBank, Daikin drag

TOKYO: Japan’s Nikkei share average snapped three consecutive sessions of gains on Wednesday, as heavyweights...

Updated 09 Aug, 2023 12:32pm

Technology

Sony Q1 profit tumbles as movie business disappoints

TOKYO: Japan’s Sony on Wednesday said first-quarter profit tumbled due to weaker performances from its movies and...

Published 09 Aug, 2023 12:30pm

Stocks

Australian shares end higher aided by upbeat CBA results

Australian shares ended higher on Wednesday, aided by gains in the financial stocks after the country’s biggest...

Updated 09 Aug, 2023 12:28pm

Stocks

European shares rebound as Italy eases stance on bank levy

European shares rose on Wednesday, with Italian lenders rebounding from sharp losses in the previous session after...

Published 09 Aug, 2023 12:25pm

Technology

NASA may delay crewed lunar landing beyond Artemis 3 mission

KENNEDY SPACE CENTER: NASA’s Artemis 3 mission, set to return humans to the Moon in 2025, might not involve a crewed...

Published 09 Aug, 2023 12:21pm

Sports

Boult back in New Zealand ODI squad for England tour

WELLINGTON: Seamer Trent Boult is set to play international cricket again after being named Wednesday to the New...

Published 09 Aug, 2023 12:16pm

Sports

Mbappe contract dispute overshadows start of Ligue 1 season

PARIS: Uncertainty over the future of Kylian Mbappe hangs over French football ahead of the new Ligue 1 season,...

Published 09 Aug, 2023 12:14pm

Stocks

Hong Kong stocks fall further at open

HONG KONG: Hong Kong stocks extended the week’s losses at the open Wednesday following another drop on Wall Street...

Published 09 Aug, 2023 12:11pm

Financial

Australia’s Commonwealth Bank posts record profit as rates rise

SYDNEY: Australia’s biggest lender Commonwealth Bank reported a record annual profit Wednesday as it raked in money...

Published 09 Aug, 2023 12:10pm

South Asia

What provoked the ethnic violence in India’s Manipur?

NEW DELHI: At least 120 people have been killed since May in armed clashes in Manipur, a remote state in northeast...

Published 09 Aug, 2023 12:09pm

Sports

Murray and Zverev master Toronto wind to advance, Ruud wins

TORONTO: Former Toronto Masters winners Andy Murray and Alexander Zverev dispatched first-round opponents in windy...

Published 09 Aug, 2023 12:05pm

Asia

33 dead, 18 still missing after record Beijing rains: officials

BEIJING: Thirty-three people have been confirmed dead and 18 are still missing after Beijing’s heaviest rains on...

Published 09 Aug, 2023 12:04pm

Africa

Nigeria says not ruling out force in Niger ahead of West African summit

NIAMEY: Coup-hit Niger’s neighbours have not ruled out military intervention, Nigeria’s president said, ahead of a...

Published 09 Aug, 2023 12:02pm

South Asia

Iran hangs five men convicted of gang rape

TEHRAN: Iran executed five men by hanging on Wednesday after convicting them of gang raping a woman in the northwest...

Published 09 Aug, 2023 11:58am

Europe

Weight-loss drug cuts risk of heart attack, strokes: Novo Nordisk

COPENHAGEN: Danish pharma group Novo Nordisk’s obesity drug Wegovy cuts the risk of heart attacks and strokes by a...

Published 09 Aug, 2023 11:52am

Business & Finance

China swings into deflation as recovery falters

BEIJING: China’s consumer prices fell into deflation in July, while factory gate prices extended their declines, as...

Published 09 Aug, 2023 11:23am

Sports

Liverpool skipper Van Dijk understands ‘doubts’ over lack of recruitment

Liverpool captain Virgil van Dijk said he understands people’s concerns over the Premier League club’s lack of...

Published 09 Aug, 2023 11:17am

Commodities

Singapore iron ore recovers after dipping below $100/mt, China marginally higher

Singapore iron ore futures rebounded on Wednesday after briefly dipping below $100 per metric ton, while the Dalian...

Published 09 Aug, 2023 11:16am

Europe

Russia shoots down two Ukrainian drones near Moscow

MOSCOW: Russia said it had shot down two Ukrainian drones near Moscow on Wednesday, one near a major airport to the...

Published 09 Aug, 2023 11:15am

Energy

ADNOC Gas awards $3.6bn contract to expand UAE gas processing

DUBAI: State oil giant Abu Dhabi National Oil Company’s gas unit, ADNOC Gas, said on Wednesday it awarded a $3.6...

Published 09 Aug, 2023 11:14am

Forex

Asian currencies edge higher despite weak China inflation (.)

Philippine peso led gains as Asian currencies edged higher on Wednesday, despite China’s consumer prices falling in...

Published 09 Aug, 2023 11:12am

Mutual Funds

Japan’s 10-year bond yield falls to near 2-week low after firm auction result

TOKYO: Japan’s 10-year government bond (JGB) yield fell to a near-two-week low on Wednesday as a...

Published 09 Aug, 2023 11:11am

Commodities

Australia’s largest grain exporter to resume China barley trade

SYDNEY: Australia’s largest bulk grain exporter, CBH Group, has been cleared to resume barley shipments to China,...

Published 09 Aug, 2023 11:05am

Sports

Women’s World Cup final eight is wide open, as sport sees a changing of the guard

SYDNEY: Few could have predicted the eight teams still standing when the Women’s World Cup kicked off three weeks -...

Published 09 Aug, 2023 11:03am

Financial

Italy sets 0.1% cap for new bank tax after market rout

ROME: Italy has set a cap at 0.1% of total bank assets for the new tax targeting profits lenders reaped from higher...

Published 09 Aug, 2023 11:01am

Asia

Magnitude 5.4 earthquake strikes Mindanao, Philippines region

MANILA: An earthquake of magnitude 5.4 struck Mindanao, Philippines, the German Research Centre for Geosciences...

Published 09 Aug, 2023 10:45am

Asia

Typhoon Khanun lashes southern Japan, north braces for another storm

TOKYO: Heavy rain from Typhoon Khanun pounded southern Japan on Wednesday as another storm approached from the east...

Published 09 Aug, 2023 10:43am

Sports

Wozniacki makes triumphant return to reach Montreal second round

Caroline Wozniacki, in her first competitive match after more than three years away to start a family, cruised by...

Published 09 Aug, 2023 10:38am

USA

Biden says he will visit Vietnam ‘shortly’

ALBUQUERQUE: US President Joe Biden said on Tuesday he would be traveling to Vietnam “shortly” because the country...

Published 09 Aug, 2023 10:34am

Mutual Funds

Indian bond yields seen lower tracking US peers, RBI decision key

MUMBAI: Indian government bond yields are expected to dip marginally in the early session on Wednesday, tracking a...

Published 09 Aug, 2023 10:30am

Forex

Indian rupee to remain under pressure following dollar index up move

MUMBAI: The Indian rupee is expected to struggle at the opening on Wednesday in the wake of the dollar index’s move...

Published 09 Aug, 2023 10:25am

Forex

Australia, NZ dollar downtrend pauses, still vulnerable to China woes

SYDNEY: The Australian and New Zealand dollars flatlined on Wednesday after Chinese inflation data proved too mixed...

Published 09 Aug, 2023 10:23am

Govt of Pakistan’s equity in Reko Diq project: Barrick says ‘will not mind’ if PIF wants to buy out

Barrick will support Saudi Arabia’s wealth fund coming into the mine through Pakistan’s 25% equity stake, says CEO Mark Bristow

Updated 09 Aug, 2023 10:21am

Commodities

Palm rises after two-day slide, MPOB data in focus

KUALA LUMPUR: Malaysian palm oil futures ticked up on Wednesday after two straight sessions of sharp losses, with...

Published 09 Aug, 2023 10:18am

Commodities

Corn, soybeans rise for second session on short covering; wheat falls

SINGAPORE: Chicago corn and soybeans gained more ground on Wednesday with investors covering short positions ahead...

Published 09 Aug, 2023 10:15am

Sports

Colombia ‘dreaming big’ ahead of England quarter-final

MELBOURNE: Colombia are far from content with a fairytale run to their first Women’s World Cup quarter-final, and...

Published 09 Aug, 2023 10:12am

Stocks

Indian shares open lower as China deflation fears add to caution

BENGALURU: Indian shares opened lower on Wednesday as sentiment worsened after data fuelled deflation risks in China...

Published 09 Aug, 2023 10:03am

Nepra dismayed by higher Lesco losses

ISLAMABAD: The power sector regulator, National Electric Power Regulatory Authority (Nepra) has expressed total...

Updated 09 Aug, 2023 10:02am

Bullion Rate

Gold off one-month lows as US dollar, yields retreat

Gold prices bounced back on Wednesday from one-month lows hit in the previous session, as the dollar and bond yields...

Published 09 Aug, 2023 10:00am

Forex

China’s yuan bounces from 3-week low on firmer fix, state bank buying

SHANGHAI/SINGAPORE: China’s yuan bounced from a three-week low against the dollar on Wednesday, as a...

Published 09 Aug, 2023 09:58am

Energy

Japan spot LNG contract price for July not disclosed

The average contract price for spot liquefied natural gas (LNG) cargoes for shipment to Japan last month was not...

Published 09 Aug, 2023 09:56am

Commodities

London copper rebounds from 1-month low as dollar eases

London copper prices bounced on Wednesday from a one-month low hit in the previous session, as a weaker US dollar...

Published 09 Aug, 2023 09:55am

Companies

Cathay Pacific posts $550mn first-half profit, to repay Hong Kong government

HONG KONG: Hong Kong’s Cathay Pacific Airways reported on Wednesday a profit of HK$4.3 billion ($550.23 million) for...

Published 09 Aug, 2023 09:53am

Stocks

China stocks extend drop as economy slips into deflation

HONG KONG: China and Hong Kong stocks extended losses on Wednesday as data showed consumer prices fell into...

Published 09 Aug, 2023 09:50am

Forex

Dollar firm on safe-haven demand as markets fret over China, banks

TOKYO: The dollar remained on the front foot in Asia on Wednesday, holding on to overnight gains against major peers...

Published 09 Aug, 2023 09:49am

Stocks

Asian shares hesitant on China deflation risk, bank jitters

SYDNEY: Asian shares were on the defensive on Wednesday after data showed that China slipped into deflation in July,...

Published 09 Aug, 2023 09:46am

Rs9.4trn revenue collection target: FBR required to rely on policy, some other steps

ISLAMABAD: The Federal Board of Revenue (FBR) will heavily rely on policy and administrative/ enforcement measures...

Updated 09 Aug, 2023 09:27am

Revamping railways: Urgent investment of Rs12bn needed, NA told

ISLAMABAD: Federal Minister for Railways Khawaja Saad Rafique on Tuesday informed National Assembly that an...

Updated 09 Aug, 2023 09:27am

Dissolution of NA: PM says will send summary to President today

ISLAMABAD: Prime Minister Shehbaz Sharif has stated that he would send the summary for the dissolution of the...

Updated 09 Aug, 2023 09:20am

Updated CDMP as per SBA yet to be approved

ISLAMABAD: The pledge for the Cabinet to approve an updated Circular Debt Management Plan (CDMP) by end-July 2023 as...

Updated 09 Aug, 2023 09:16am

ECC approves SSA for outsourcing Islamabad airport

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved State Support Agreement (SSA) for...

Updated 09 Aug, 2023 08:52am

Record Rs371bn raised through sale of Ijarah Sukuk

KARACHI: The federal government has raised record Rs 371 billion (over $1.29 billion) through the sale of government...

Updated 09 Aug, 2023 08:52am

BR’s refresher: your morning briefing for the day

Important updates from August 8, 2023

Published 09 Aug, 2023 08:42am

Ampoule manufacturing: Glass tubing subjected to 20pc customs duty: FBR

ISLAMABAD: The Customs Classification Committee of the Federal Board of Revenue (FBR) has declared that the glass...

Updated 09 Aug, 2023 08:41am

Imran Khan disqualified for five years

ISLAMABAD: Election Commission of Pakistan (ECP) has disqualified Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan...

Updated 09 Aug, 2023 08:37am

BR Research

Power tariff adjustments keep coming

If you thought recent annual base tariff adjustment would put an end to the misery, think again. The power regulator...

Published 09 Aug, 2023 08:36am

BR Research

Unrelentingly Lucky

Nothing, not even an economy knee-deep into multiple crises would put a dampener on Lucky Cement’s (PSX: LUCK)...

Published 09 Aug, 2023 08:34am

BR Research

Lucky Core Industries Limited

Lucky Core Industries Limited (PSX: LCI) was incorporated in Pakistan as a public limited company as Khewra Soda Ash...

Published 09 Aug, 2023 08:32am

Business & Finance

Digital financial system: SECP, FIA agree to formalize collaboration

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) and the Federal Investigation Agency (FIA) have...

Updated 09 Aug, 2023 06:37am

Opinion

How to galvanise our exports

If we can start from an economic policy perspective, policymakers are asking the wrong question: how to increase...

Updated 09 Aug, 2023 06:27am

Opinion

Remembering Dr Ruth Pfau

“Our human compassion binds us the one to the other – not in pity or patronizingly, but as human beings who have...

Updated 09 Aug, 2023 06:21am

Pakistan

The Weather

KARACHI: The weather report on Tuesday (August 08, 2023) and the forecast for Wednesday (August 09, 2023)...