News Archives for Latest - 2023-08-11

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Archive - 2023-08-11

Pakistan

Tamgha-e-Imtiaz announced for paramedics who lost their lives during Covid-19

PM Shehbaz says the whole nation will remain indebted to those dutiful doctors and frontline health workers

Published 11 Aug, 2023 10:57pm

World

EU delivers Ukraine 224,000 shells under ammo plan

BRUSSELS: The EU has delivered Ukraine 223,800 shells under the first part of a plan to provide a million artillery...

Published 11 Aug, 2023 10:51pm

Stocks

KSE-100 closes with over 600-point gain on MSCI additions

Index hits intra-day high of 48,898.82 before retreating to 48,424 by end of trading

Updated 11 Aug, 2023 10:42pm

Industry

First month of FY24: Car sales down 57% YoY as rising prices suppress demand

Pakistan Automotive Manufacturers Association says only 5,092 units were sold in July

Published 11 Aug, 2023 10:36pm

Pakistan

Two terrorists killed in Balochistan IBO: ISPR

Military's media wing says the killed terrorists were involved in targeting innocent civilians and law enforcement agencies

Published 11 Aug, 2023 10:12pm

Pakistan

Sindh Assembly dissolved on CM Murad’s advice

Governor Kamran Tessori signs the summary

Published 11 Aug, 2023 09:43pm

Pakistan

Name of caretaker prime minister to be finalised by tomorrow: PM Shehbaz

The premier says he will consult with allied parties tonight and later with the opposition leader on the matter

Updated 11 Aug, 2023 09:11pm

Stocks

Wall St slides as growth stocks fall after producer prices data

Wall Street fell on Friday as rate-sensitive technology and growth stocks dropped after hotter-than-expected...

Published 11 Aug, 2023 08:34pm

South Asia

Biden calls China economy a ‘ticking time bomb,’ misstates GDP growth

SALT LAKE CITY: U.S. President Joe Biden on Thursday called China a “ticking time bomb” because of economic...

Updated 11 Aug, 2023 08:26pm

Sports

US lawmakers call on FIFA to recognize exiled Afghanistan women’s soccer team

WASHINGTON: A bipartisan group of U.S. lawmakers called on FIFA to recognize the exiled Afghanistan women’s soccer...

Published 11 Aug, 2023 08:23pm

Energy

Oil prices firm on upbeat demand growth forecasts

LONDON: Oil prices gained ground on Friday amid optimistic demand forecasts from the OPEC producer group and the...

Updated 11 Aug, 2023 08:14pm

Forex

Rupee weakens further, settles at 288.49 against US dollar

Currency depreciate 0.31% in inter-bank market

Updated 11 Aug, 2023 08:09pm

USA

Musk says cage fight with Zuckerberg will be in Italy

WASHINGTON: Elon Musk said Friday that his much-hyped cage fight with Mark Zuckerberg would take place in Italy, as...

Published 11 Aug, 2023 07:57pm

Pakistan

Tarbela Dam fills to maximum conservation level of 1,550 feet

Filling of the mega water reservoir is a good omen for agriculture and hydel power generation in Pakistan

Published 11 Aug, 2023 07:48pm

Energy

Global LNG: Asian spot prices inch up as market eyes Australian strikes

LONDON: Asian spot liquefied natural gas (LNG) prices inched up this week as the prospect of possible industrial...

Updated 11 Aug, 2023 07:34pm

Stocks

Sri Lanka shares end lower as financials, industrials weigh

CSE All Share index settled down 0.46% at 11,596.16

Published 11 Aug, 2023 07:28pm

Money & Banking

India’s foreign exchange reserves fall for third week

MUMBAI: India’s foreign exchange reserves fell for a third straight week and stood at $601.5 billion as of Aug. 4,...

Published 11 Aug, 2023 07:23pm

Pakistan

President Alvi asks PM Shehbaz, Raja Riaz to propose name for caretaker premier by Aug 12

Premier and the opposition leader are set to meet again today to finalise the candidate

Updated 11 Aug, 2023 07:19pm

Sports

PCB to organise separate first-class tournaments for regions, departments in 2023-24 season

The new domestic structure includes President's Trophy for departments and Quaid-e-Azam Trophy for regions

Published 11 Aug, 2023 07:13pm

Pakistan

Supreme Court’s verdict will not affect Nawaz Sharif: ex-law minister

Tarar says the decision will not stop elder Sharif from returning to electoral politics

Updated 11 Aug, 2023 06:47pm

Life & Style

Emmys postponed until January over Hollywood strikes

LOS ANGELES: The Emmy Awards have been postponed by almost four months, organizers said Thursday, as crippling...

Published 11 Aug, 2023 06:17pm

Sports

Liverpool agree British record £110 million fee for Caicedo

LONDON: Liverpool manager Jurgen Klopp confirmed on Friday the Reds have reached an agreement with Brighton for the...

Published 11 Aug, 2023 06:10pm

Europe

Belarus strongman orders contact with Poland amid border tensions

MOSCOW: Belarus strongman Alexander Lukashenko said Friday he had ordered “contact” with Poland and that he was...

Published 11 Aug, 2023 06:07pm

Perspectives

Green hydrogen for Pakistan

“The era of global warming has ended, the era of global boiling has arrived.” This was stated by UN Chief Antonio...

Published 11 Aug, 2023 06:06pm

Movies & Music

K-pop to the rescue? S. Korea all-in for scout jamboree closing concert

SEOUL: Tens of thousands of scouts danced, sang and waved glow sticks at a massive K-pop festival in Seoul on...

Published 11 Aug, 2023 06:04pm

South Asia

India proposes sweeping overhaul of British-era criminal laws

NEW DELHI: India’s government unveiled new punishments for mob lynchings and crimes against women on Friday in a...

Published 11 Aug, 2023 05:57pm

Europe

Russia fired four Kinzhal missiles at western Ukraine

KYIV: Kyiv said Friday that Russian forces had fired four Kinzhal hypersonic missiles at an airfield in western...

Published 11 Aug, 2023 05:53pm

Sports

Bayern still working to seal Kane deal: Tuchel

MUNICH: Bayern Munich are working with the “highest priority” to sign England captain Harry Kane from Tottenham but...

Published 11 Aug, 2023 05:51pm

Cricket

Shakib to lead Bangladesh at World Cup after Tamim injury

DHAKA: Bangladesh again named Shakib Al Hasan as captain of their one-day international side on Thursday, filling in...

Published 11 Aug, 2023 05:48pm

Money & Banking

India’s April-Aug direct tax collection up 16% y/y

NEW DELHI: The Indian government has collected 6.53 trillion rupees ($78.88 billion) as gross direct tax during...

Published 11 Aug, 2023 05:42pm

Stocks

MSCI adds 41 PSX companies to Small Cap, 15 to Frontier Markets Indexes

In a positive development, Morgan Stanley Capital International (MSCI) Inc in its results of the August 2023 index...

Updated 11 Aug, 2023 05:40pm

Commodities

Gold prices decline Rs400 per tola in Pakistan

Price of 24-carat gold settles at Rs222,400 per tola in local market

Published 11 Aug, 2023 05:39pm

Companies

India mandates offshore online gaming firms to register business or appoint proxy to pay tax

NEW DELHI: The Indian government has mandated offshore online gaming companies operating in the country to register...

Published 11 Aug, 2023 05:36pm

Europe

Ukraine to fire all regional military recruitment chiefs

KYIV: Ukrainian President Volodymyr Zelenskiy announced the dismissal of the heads of all the country’s regional...

Published 11 Aug, 2023 05:30pm

Money & Banking

RMS Limited intends to acquire Escorts Investment Bank

RMS (Private) Limited, a construction company, has expressed its intention to acquire the majority stake of Escorts...

Published 11 Aug, 2023 05:29pm

Stocks

Financials, consumer stocks drag Indian shares to third weekly loss

BENGALURU: Indian shares slid on Friday, extending losses for the third week in a row, dragged by financials and...

Published 11 Aug, 2023 05:25pm

Companies

SECP registers 2,220 new companies in July

Number of registered companies in the country now stands at 197,828

Published 11 Aug, 2023 05:23pm

Commodities

Copper on track for biggest weekly decline in three months

LONDON: Copper prices fell on Friday and were on track for their biggest weekly fall in three months after data...

Published 11 Aug, 2023 05:22pm

Commodities

Palm posts third weekly loss on rival oils

JAKARTA: Malaysian palm oil futures fell for a third consecutive week on Friday, dragged by weakness in rival...

Published 11 Aug, 2023 05:20pm

Middle East

Israeli forces kill Palestinian, wound eight in West Bank raid

RAMALLAH: Israeli forces shot dead a Palestinian man and wounded at least eight others in a refugee camp in the...

Published 11 Aug, 2023 03:17pm

Pakistan

Supreme Court strikes down Review of Judgments and Orders Act 2023

Declares the act null and void

Updated 11 Aug, 2023 03:07pm

South Asia

Subway India takes away free cheese slice, offers sauce as inflation bites

NEW DELHI: Subway sandwiches in India will no longer come with the option of a free cheese slice following revisions...

Published 11 Aug, 2023 02:52pm

Forex

Rouble weakens again after limited reprieve from central bank interventions

The Russian rouble weakened on Friday, heading back towards the 98 mark against the dollar, but depreciating at a...

Published 11 Aug, 2023 01:55pm

Stocks

European shares fall as cooling US inflation fails to ease jitters

European shares opened lower on Friday after a Wall Street rally fuelled by tame inflation data fizzled out, though...

Published 11 Aug, 2023 01:54pm

Stocks

London’s FTSE 100 pressured by pound after surprise Q2 GDP growth

London’s exporter-heavy FTSE 100 index opened lower on Friday, pressured by a stronger pound after data showed the...

Published 11 Aug, 2023 01:53pm

Mutual Funds

UK gilt yields rise to 4-day high after strong GDP data

LONDON: British government bonds sold off on Friday after the release of stronger-than-expected second-quarter...

Published 11 Aug, 2023 01:52pm

Middle East

Attack on bus kills 23 Syrian troops

DUBAI: An attack on a military bus in Syria’s east killed 23 government troops and wounded more than 10, the Syrian...

Updated 11 Aug, 2023 12:39pm

Financial

UBS ends state guarantee granted over Credit Suisse rescue

ZURICH: UBS won’t need the government guarantee it secured to rescue failing rival Credit Suisse and has repaid...

Published 11 Aug, 2023 12:34pm

Sports

Medvedev reaches ATP Toronto quarters, Ruud upset

TORONTO: Daniil Medvedev’s hardcourt mastery continued Thursday with a 6-4, 6-4 victory over Lorenzo Musetti at the...

Published 11 Aug, 2023 12:27pm

Sports

Spieth grabs first round lead at St. Jude Championship

MIAMI: Jordan Spieth grabbed a one stroke lead after the first round of the St. Jude Championship in Memphis on...

Published 11 Aug, 2023 12:24pm

Stocks

Hong Kong stocks enjoy positive start to day

HONG KONG: Hong Kong stocks ticked higher in the opening minutes of Friday following a below-forecast reading on US...

Published 11 Aug, 2023 12:20pm

South Asia

Arm wrestling grips India with glitzy dreams

NEW DELHI: Athletes flex muscled biceps before going hand-to-hand in a newly televised arm-wrestling league seeking...

Published 11 Aug, 2023 12:01pm

USA

Blinken backs ‘peaceful resolution’ in Niger after ECOWAS force decision

WASHINGTON: US Secretary of State Antony Blinken called Thursday for a peaceful solution to reverse Niger’s coup...

Published 11 Aug, 2023 11:20am

Financial

Power crisis cost Vietnam $1.4bn: World Bank

HANOI: A severe power shortage in Vietnam caused by an intensely hot spell and unprecedented drought in May and June...

Published 11 Aug, 2023 11:18am

Financial

Bank tax hits investor confidence in Italian govt

MILAN: Italian Prime Minister Giorgia Meloni’s government watered down its surprise windfall tax on banks this week...

Published 11 Aug, 2023 11:10am

Commodities

Soybeans set for weekly losses ahead of US report

SINGAPORE: Chicago soybeans edged higher on Friday ahead of a key US supply-demand report due later in the day,...

Published 11 Aug, 2023 11:01am

USA

US suicide deaths reached record high in 2022, CDC data shows

WASHINGTON: The number of people who died by suicide in the US hit an estimated record 49,000 in 2022, a 2.6%...

Published 11 Aug, 2023 10:59am

Europe

Russia launches lunar lander in race to find water on moon

MOSCOW: Russia launched its first moon-landing spacecraft in 47 years on Friday in a bid to be the first nation to...

Published 11 Aug, 2023 10:55am

Stocks

Australian shares flat as miners, energy stocks weigh

Australian shares were flattish on Friday, weighed down by weak performances in mining and energy stocks, while...

Published 11 Aug, 2023 10:50am

Sports

Colombia playing for all the Americas against England

SYDNEY: Colombia will use its status as the last nation of the Americas at the Women’s World Cup as motivation to...

Published 11 Aug, 2023 10:47am

Forex

Indian rupee to fall on bets Fed to remain restrictive despite moderating inflation

MUMBAI: The Indian rupee will likely weaken on Friday on expectations that the US Federal Reserve will keep interest...

Published 11 Aug, 2023 10:42am

Commodities

Palm set to post third weekly loss

KUALA LUMPUR: Malaysian palm oil futures fell for a third session on Friday, tracking weakness in rival vegetable...

Published 11 Aug, 2023 10:39am

Sports

Swiatek reaches Montreal quarters, will stay world No. 1

Iga Swiatek overcame a lengthy rain delay and a stern test from Karolina Muchova to seal a 6-1 4-6 6-4 victory at...

Published 11 Aug, 2023 10:36am

Forex

Australia, NZ dollars face fourth weekly loss, threaten major support

SYDNEY: The Australian and New Zealand dollars were facing a fourth straight weekly loss on Friday as yield...

Published 11 Aug, 2023 10:34am

World

Maui wildfire death toll hits 53 and may rise; recovery to take years

KAHULUI: Maui’s wildfires have killed at least 53 people, a toll expected to rise, and unleashed destruction on the...

Published 11 Aug, 2023 10:31am

Sports

Paralluelo’s extra time strike powers Spain into World Cup semis

WELLINGTON: Substitute Salma Paralluelo scored an extra-time winner to lift Spain to a nervy 2-1 victory over the...

Published 11 Aug, 2023 10:27am

Forex

China’s yuan hits 1-month low, weighed by property woes

HONG KONG: China’s yuan weakened to a one-month low on Friday though trading was confined to a tight range, as the...

Published 11 Aug, 2023 10:23am

Energy

Saudi Aramco to supply full oil volumes to Asia in Sept

SINGAPORE: Saudi Aramco has informed customers in North Asia that they will receive the full volumes of crude oil...

Published 11 Aug, 2023 10:21am

Mutual Funds

Rising US yields pull Indian peers higher; debt sale major trigger

MUMBAI: Indian government bond yields climbed in the early session on Friday, as US yields resumed their rising...

Published 11 Aug, 2023 10:19am

Bullion Rate

Gold stays near 1-month lows as US dollar, yields hold ground

Gold prices held near one-month lows on Friday, shrugging off cooler-than-expected US inflation figures for last...

Published 11 Aug, 2023 10:17am

Energy

Australia regulator clears way for strike vote at Chevron LNG plants

SYDNEY/SINGAPORE: Australia’s labour regulator has issued an order allowing a workers’ union to check with employees...

Published 11 Aug, 2023 10:13am

Sports

No. 4 remains a worry for India captain Rohit ahead of World Cup

NEW DELHI: Shreyas Iyer’s lower back injury has left India without a settled number four batter in the one-day squad...

Published 11 Aug, 2023 10:08am

Stocks

Indian shares open lower dragged by financials, consumer stocks

BENGALURU: Indian shares opened marginally lower on Friday, dragged by financials and consumer stocks as near-term...

Published 11 Aug, 2023 10:02am

Asia

China’s Hebei province plans for two years of post-flood reconstruction

BEIJING: China’s northern province of Hebei may spend two years carrying out post-flood reconstruction, state media...

Published 11 Aug, 2023 09:58am

Caretaker PM: Talks between Shehbaz, Riaz remain inconclusive

Both leaders decide to meet again

Updated 11 Aug, 2023 09:57am

Nepra informed about reduction in Fesco’s losses

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) was informed that the Faisalabad Electric Supply...

Updated 11 Aug, 2023 09:56am

Asia

North Korea warns of flood damage after tropical storm drenches South

SEOUL: Heavy downpours continued to soak South and North Korea on Friday as tropical storm Khanun swept over the...

Published 11 Aug, 2023 09:55am

Federal cabinet stands dissolved

ISLAMABAD: The Cabinet Division issued the notifications for the dissolution of the federal cabinet on Thursday....

Updated 11 Aug, 2023 09:55am

Stocks

Asia stocks slip as US CPI fails to enthuse; dollar up

SYDNEY: Asian stocks edged towards a weekly loss on Friday and the US dollar was headed for a month of gains after...

Published 11 Aug, 2023 09:53am

Forex

Dollar steady after CPI data bolsters Fed pause bets; yen nears 145

SINGAPORE: The dollar was steady on Friday as traders wagered that the Federal Reserve’s rate hike cycle could be...

Published 11 Aug, 2023 09:50am

BTB registration: 210,437 unregistered persons respond to FBR notices

ISLAMABAD: As many as 210,437 unregistered persons responded to 216,601 notices of the Federal Board of Revenue...

Updated 11 Aug, 2023 09:30am

BRACE report lists factors leading to greater poverty

ISLAMABAD: Rising inflation, particularly food inflation (highest in the history of Pakistan), increase in...

Updated 11 Aug, 2023 09:29am

World food and agriculture expo inaugurated

KARACHI: The Trade Development Authority of Pakistan (TDAP) and the Ministry of Commerce & Textile have launched...

Updated 11 Aug, 2023 09:28am

GPP for KP project: Implementation progress rated as satisfactory by World Bank

ISLAMABAD: The World Bank has rated the overall implementation progress of the Governance and Policy Programme (GPP)...

Updated 11 Aug, 2023 09:27am

US says wasn’t involved in any conspiracy against IK

WASHINGTON: The United States (US) was not involved in any conspiracy against the former Prime Minister of Pakistan...

Updated 11 Aug, 2023 09:26am

Shehbaz again rejects IK’s cipher narrative

ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday said that Imran Khan Niazi had ruined relations with the...

Updated 11 Aug, 2023 08:43am

India raises concerns over oil market volatility with producer countries

NEW DELHI: India has flagged concerns over volatility in the global oil prices to major oil producers and...

Updated 11 Aug, 2023 08:43am

Oil benchmark Brent’s price structure reflects tighter market

LONDON: The structure of the global benchmark Brent crude futures market is at its most bullish since April,...

Updated 11 Aug, 2023 08:42am

BR’s refresher: your morning briefing for the day

Important updates from August 10, 2023

Published 11 Aug, 2023 08:42am

BR Research

Hold your breath

Cement kilns in the country are cooling down, and yet, industry-wide cement sales to domestic and foreign markets...

Published 11 Aug, 2023 08:28am

BR Research

MARI shines in FY23

FY23 has been a year of high prices, which meant growth in oil and gas E&P sector earnings. And then the local...

Published 11 Aug, 2023 08:26am

BR Research

Interview with Fawad Anwar — MD, Al-Karam Textile Mills (Pvt) Ltd

‘We need a long-term plan and a well thought out strategy for exports’ Fawad Anwar is the Managing Director of...

Published 11 Aug, 2023 08:23am

Opinion

PARTLY FACETIOUS: There is Plan A, Plan B, Plan C, Plan D, maybe even up to Plan Z

“What is the difference between institutional thinking and political parties’ thinking?” “You are kidding me...

Updated 11 Aug, 2023 05:53am

Companies

TPL Trakker’s Middle East subsidiary showing impressive growth: CEO

KARACHI: TPL Trakker’s (TPLT) subsidiary in the Middle East has shown significant growth of 40% and is proving to...

Updated 11 Aug, 2023 05:45am

Opinion

Budget Rupee Account: FY2023-24 to FY2027-2028

In the earlier two articles the focus was on the foreign (external) currency account of Pakistan. In this article ...