News Archives for Latest - 2023-08-15

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Archive - 2023-08-15

World

IMF staff to visit Sri Lanka in Sept for first programme review

LONDON: An International Monetary Fund (IMF) staff team will visit Colombo in a month's time for the first review on...

Published 15 Aug, 2023 11:38pm

World

US says Russia arms deal with North Korea would violate UN resolutions

WASHINGTON: The United States said Tuesday that Russia would be violating UN resolutions if it reaches an arms deal...

Published 15 Aug, 2023 10:44pm

World

Blinken presses Taliban rulers on women on Afghan anniversary

WASHINGTON: US Secretary of State Antony Blinken reiterated Tuesday that any greater relationship with Afghanistan's...

Published 15 Aug, 2023 10:37pm

Pakistan

President Alvi approves PEMRA (Amendment) Bill 2023

President Dr Arif Alvi on Tuesday accorded his approval to Pakistan Electronic Media Regulatory Authority (PEMRA)...

Published 15 Aug, 2023 09:34pm

Pakistan

Pakistani man caught digging grave after killing US wife: police

LAHORE: A Pakistani man accused of killing his American wife was arrested after officers caught him digging a grave...

Published 15 Aug, 2023 09:25pm

Stocks

Global stocks down on weak Chinese data

LONDON: Global stocks fell on Tuesday after disappointing data from China deepened concerns over the state of the...

Published 15 Aug, 2023 09:06pm

Forex

Inter-bank & open markets: exchange rate gap starts to breach IMF-defined limit

Average premium between the inter-bank and open market rate will be no more than 1.25 percent during any consecutive 5-business day period, the IMF had said in its country report on Pakistan

Updated 15 Aug, 2023 08:59pm

Pakistan

Caretaker PM vows to boost foreign investment through Special Investment Facilitation Council

Anwaar-ul-Haq Kakar pledges to continue the programmes targeted at reviving the nation's economy

Published 15 Aug, 2023 08:23pm

Energy

Oil drops over 1% on worries about Chinese economy

NEW YORK: Oil prices fell over 1% on Tuesday on sluggish Chinese economic data coupled with fears that Beijing’s...

Updated 15 Aug, 2023 08:33pm

Stocks

KSE-100 ekes out gain amid choppy trading

Investors await fresh triggers to fuel stronger movement

Published 15 Aug, 2023 08:16pm

Forex

Rupee falls to 291.5 against US dollar, its weakest closing in inter-bank market since May 11

Local currency sees depreciation of over 1% on Tuesday as caretaker govt takes over affairs of the country

Updated 15 Aug, 2023 08:08pm

Stocks

Most Gulf markets in red after China cuts rates

Most stock markets in the Gulf ended lower on Tuesday on reduced risk appetite after rate cuts by China and more...

Published 15 Aug, 2023 08:04pm

Stocks

Wall St falls on rate concerns fueled by retail sales data, big banks drop

Wall Street’s main indexes fell on Tuesday after stronger-than-expected retail sales data stoked worries interest...

Published 15 Aug, 2023 07:59pm

South Asia

China, India agree to maintain peace, tranquillity on the ground in border areas

BEIJING: China and India agreed to maintain peace and tranquillity on the ground in the border areas, China’s...

Published 15 Aug, 2023 07:54pm

South Asia

Sri Lanka scraps $3.85bn foreign-funded oil refinery

COLOMBO: Cash-strapped Sri Lanka announced on Tuesday it was scrapping a $3.85 billion deal to build an oil refinery...

Published 15 Aug, 2023 07:15pm

Business & Finance

Canada inflation rises in July to 3.3 percent

OTTAWA: Canada’s inflation rate rose to 3.3 percent in July after plunging over the past year from a June 2022 peak,...

Published 15 Aug, 2023 07:11pm

Europe

Russia says hit military industries in Ukraine overnight

MOSCOW: Russia said Tuesday its forces struck military industrial facilities at several sites across Ukraine...

Published 15 Aug, 2023 06:50pm

South Asia

25 dead after Myanmar jade mine landslide

YANGON: Rescuers have recovered 25 bodies while 14 people remain missing after a landslide at an unregulated jade...

Published 15 Aug, 2023 06:47pm

Commodities

Gold prices increase Rs1,100 per tola in Pakistan

Price of 24-carat gold settles at Rs222,900 per tola in local market

Published 15 Aug, 2023 06:32pm

Pakistan

Parvez Elahi remanded to NAB custody till Aug 21

He was arrested in a case pertaining to alleged bribes over development project contracts

Updated 15 Aug, 2023 06:27pm

Pakistan

President confers civilian awards on citizens, foreign nationals

ISLAMABAD: President Dr Arif Alvi on the occasion of Independence Day conferred civil awards on citizens of Pakistan...

Updated 15 Aug, 2023 06:24pm

Europe

Putin talks to Mali’s leader about Niger coup, stresses peace

Russian President Vladimir Putin spoke to Mali’s military leader about the recent coup in Niger on Tuesday, a call...

Published 15 Aug, 2023 06:23pm

USA

US retail sales bounce with online spending boost

WASHINGTON: US consumer spending rose more than anticipated in July, according to government data released Tuesday,...

Published 15 Aug, 2023 06:03pm

Companies

Sri Lanka says China’s Sinopec to start operations Sept. 20

COLOMBO: Chinese oil major Sinopec expects to start operations in Sri Lanka on Sept. 20 and will be allowed to sell...

Published 15 Aug, 2023 05:12pm

Europe

Sweden to donate ammo, spare parts worth $300 million to Ukraine

STOCKHOLM: Sweden’s government said Tuesday that it would donate to Ukraine ammunition and spare parts for...

Published 15 Aug, 2023 05:09pm

Commodities

Copper hits 6-week low, other metals fall after weak China data

LONDON: Prices for copper and other base metals fell in London on Tuesday, hurt by a worsening demand outlook from...

Published 15 Aug, 2023 05:06pm

Movies & Music

Singer Arooj Aftab honoured with ‘Pride of Performance’ award

Pakistani-American singer Arooj Aftab was awarded the Pride of Performance award on August 14, in a ceremony in...

Published 15 Aug, 2023 05:04pm

Money & Banking

Barclays cuts China’s 2023 GDP growth forecast to 4.5%

BEIJING: Barclays cut its forecast for China’s 2023 gross domestic product (GDP) growth to 4.5% from 4.9% because of...

Published 15 Aug, 2023 05:00pm

Technology

Musk’s X social media platform shuts down promoted accounts ad business: Axios

Social media company X, formerly known as Twitter, will no longer allow advertisers to promote their accounts within...

Published 15 Aug, 2023 04:54pm

South Asia

North Korea’s Kim, Russia’s Putin exchange letters vowing stronger ties

SEOUL: North Korea leader Kim Jong Un and Russian President Vladimir Putin exchanged letters on Tuesday pledging to...

Published 15 Aug, 2023 04:44pm

Movies & Music

Sajal Ali, Adnan Siddiqui, Rahat Fateh Ali Khan honoured with civil awards

Ceremony to take place March 23, 2024

Updated 15 Aug, 2023 04:36pm

Stocks

Sri Lankan shares end lower as financials, industrials weigh

CSE All Share index settled down 1.47% at 11,224.22

Published 15 Aug, 2023 04:35pm

Commodities

Palm oil snaps three-session fall as exports surge

KUALA LUMPUR: Malaysian palm oil futures rose more than 2% on Tuesday ending a three-session decline, helped by a...

Published 15 Aug, 2023 04:32pm

Luxury

Scent of luxury: India’s jasmine infuses global perfume

MADURAI, India: Heady scents fill the air as skilled pickers in India pluck white jasmine before the still fresh...

Published 15 Aug, 2023 04:11pm

Companies

Air Link CEO says things ‘back on track’ as LC restrictions ease

Muzzaffar Hayat Piracha says post IMF programme, company producing more cellphones than before

Updated 15 Aug, 2023 02:50pm

Europe

35 dead after blast at Russian fuel station

MOSCOW: At least 35 people were killed in an explosion that created a huge fire ball at a fuel station in Russia’s...

Updated 15 Aug, 2023 02:35pm

Stocks

FTSE 100 opens lower as stronger pound weighs; M&S lifts midcaps

The UK’s exporter-heavy FTSE 100 index opened lower on Tuesday, dragged down by a stronger sterling after a...

Published 15 Aug, 2023 02:32pm

South Asia

Taliban mark two years since return to power in Afghanistan

KABUL: Afghanistan’s Taliban on Tuesday marked the second anniversary of their return to power, celebrating their...

Published 15 Aug, 2023 02:10pm

Stocks

Most Gulf markets subdued after China cuts rates

Most major stock markets in the Gulf fell in early trade on Tuesday as investors mulled over China cutting key...

Published 15 Aug, 2023 01:33pm

Business & Finance

Sri Lanka lifts import ban on trucks, heavy vehicles

COLOMBO: Sri Lanka on Tuesday lifted a ban on imports of trucks and other heavy vehicles for the first time since...

Published 15 Aug, 2023 01:31pm

Financial

Binance files for protective order against SEC

Crypto exchange Binance late on Monday filed for a protective court order against the US Securities and Exchange...

Published 15 Aug, 2023 01:25pm

Financial

Russian central bank hikes rates by 350 bp to 12% in extraordinary meeting

MOSCOW: Russia’s central bank hiked its key interest rate by 350 basis points to 12% on Tuesday, an emergency rate...

Published 15 Aug, 2023 01:23pm

Stocks

European stocks waver at open

LONDON: Europe’s main stock markets were sluggish in opening trade on Tuesday, as London reported an increase in UK...

Published 15 Aug, 2023 01:15pm

South Asia

Search for survivors after Indian floods, landslides kill 65

DEHRADUN: Rescuers searched Tuesday for people feared missing in floods and landslides that have killed at least 65...

Published 15 Aug, 2023 01:13pm

Europe

UK unemployment rises to 4.2 percent: official data

LONDON: UK unemployment jumped to a two-year high in the three months to the end of June, official data showed...

Published 15 Aug, 2023 01:09pm

Europe

Global conservation mission sets sail from UK in Darwin’s wake

LONDON: Almost two centuries after Charles Darwin’s voyage around the world, environmentalists plan to follow in his...

Published 15 Aug, 2023 01:04pm

Stocks

China stocks fall after disappointing economic data, despite rate cuts

SHANGHAI: China stocks fell on Tuesday even after the central bank unexpectedly cut key policy rates to support...

Published 15 Aug, 2023 12:59pm

Forex

Australia, NZ dollars get a reprieve as China eases rates, support shaky

SYDNEY: The Australian and New Zealand dollars got a much needed lift on Tuesday as a surprise policy easing in...

Published 15 Aug, 2023 12:54pm

Commodities

Palm oil rallies over 3%, set to end three-session fall

KUALA LUMPUR: Malaysian palm oil futures jumped more than 3% on Tuesday, set to end a three-session decline on a...

Published 15 Aug, 2023 12:49pm

Forex

Russia’s rouble rises ahead of central bank extraordinary meeting

MOSCOW: The Russian rouble rose on Tuesday as investors bet the central bank would hike rates at an extraordinary...

Published 15 Aug, 2023 12:43pm

South Asia

India’s Modi says peace returning to strife-torn Manipur

NEW DELHI: Indian Prime Minister Narendra Modi said on Tuesday peace was returning to the strife-torn northeastern...

Published 15 Aug, 2023 12:39pm

Financial

UK basic wage growth hits record, adding to Bank of England’s worries

LONDON: British wages excluding bonuses were a record 7.8% higher than a year earlier in the three months to June,...

Published 15 Aug, 2023 12:02pm

Forex

Sterling rises as UK basic wage growth hits record high

LONDON: Sterling rose on Tuesday after data showed British wages grew at a record pace in the second quarter, adding...

Published 15 Aug, 2023 11:51am

Business & Finance

Saudi inflation eases further in July to 2.3%

DUBAI: Saudi Arabia’s annual inflation rate eased for a second consecutive month to 2.3% in July from 2.7% in June,...

Published 15 Aug, 2023 11:49am

Stocks

Japan’s Nikkei ends higher as chip shares track Wall Street gains

TOKYO: Japan’s Nikkei share average closed higher on Tuesday, tracking Wall Street’s firm finish overnight, as...

Updated 15 Aug, 2023 11:47am

Forex

South African rand up slightly before unemployment data

JOHANNESBURG: The South African rand was slightly stronger in early trade on Tuesday, recovering some ground before...

Published 15 Aug, 2023 11:45am

Mutual Funds

Japan yields follow Treasuries higher; weak demand at 5-year sale

TOKYO: Japanese government bond yields rose on Tuesday, tracking a rise in US Treasury yields as traders try to...

Published 15 Aug, 2023 11:43am

Asia

Japan’s Suzuki: Not targeting absolute levels on FX intervention

TOKYO: Japanese Finance Minister Shunichi Suzuki said on Tuesday that authorities are not targeting absolute...

Published 15 Aug, 2023 11:41am

Sports

Man Utd punish wasteful Wolves for winning Premier League start

MANCHESTER: Manchester United survived an onslaught from Wolves and huge claims for a late penalty to start the...

Published 15 Aug, 2023 11:27am

Stocks

Hong Kong shares fall at open

HONG KONG: Hong Kong stocks opened lower on Tuesday as an overnight rally in US tech shares failed to offset...

Published 15 Aug, 2023 11:21am

USA

Another Ecuador politician slain, six days ahead of vote

QUITO: A local politician in Ecuador was killed Monday, party officials said, less than a week after a presidential...

Published 15 Aug, 2023 11:18am

Sports

‘Steely winner’ Wiegman England’s biggest weapon in World Cup semi-final

SYDNEY: England had never won a major women’s football trophy before Sarina Wiegman became coach. Now they are...

Published 15 Aug, 2023 11:10am

Sports

Sweden, Spain set for clash of styles in World Cup semi-final

AUCKLAND: First-time semi-finalists Spain face a more seasoned Sweden at the Women’s World Cup on Tuesday, with a...

Published 15 Aug, 2023 11:00am

USA

Trump indicted for racketeering over 2020 election interference

ATLANTA: Donald Trump was indicted Tuesday on charges of racketeering and a string of election crimes after a...

Published 15 Aug, 2023 10:49am

Sports

Williams upsets Kudermetova, Stephens beats Cocciaretto at Cincinnati

Venus Williams upset 16th-ranked Veronika Kudermetova 6-4 7-5 at the Cincinnati Open on Monday, as her unseeded...

Published 15 Aug, 2023 10:43am

Sports

Auger-Aliassime snaps losing streak with win over Berrettini in Cincinnati

Felix Auger-Aliassime ended a five-match losing streak with a come from behind 4-6 6-2 6-3 victory over Matteo...

Published 15 Aug, 2023 10:40am

Sports

Abdominal strain forces Murray out of Cincinnati

Andy Murray pulled out of the Cincinnati Open late on Monday as the Briton continues to recover from an abdominal...

Published 15 Aug, 2023 10:38am

Stocks

Asia stocks stall at one-month lows as slowing China cuts rates

SYDNEY: Asian stock markets wallowed at one-month lows on Tuesday and the yuan struggled as China cut interest rates...

Published 15 Aug, 2023 10:35am

Pakistan

PIA CEO welcomes first flight from Dubai to Skardu

KARACHI: PIA first international flight from Dubai to Skardu operated on the Independence Day of Pakistan,...

Updated 15 Aug, 2023 10:32am

Draft amendments to income tax Ord: FBR seeks new powers for IR Commissioners

ISLAMABAD: The Federal Board of Revenue (FBR) has proposed to give all basic administrative powers of income tax law...

Updated 15 Aug, 2023 10:27am

Kakar sworn in as eighth interim PM

ISLAMABAD: Shehbaz Sharif’s stint as Prime Minister finally came to an end on Monday after Anwaar-ul-Haq Kakar was...

Updated 15 Aug, 2023 10:25am

Any attempt to sabotage CPEC will not succeed: China

Chinese foreign ministry spokesperson says Beijing will continue to work with the Pakistani side to jointly guard against and counter the threats of terrorism

Updated 15 Aug, 2023 10:23am

Europe

Russia strikes western Ukraine in large-scale air attack

Russia launched a large-scale air attack on Ukraine’s western region of Lviv and the northwestern region of Volyn,...

Published 15 Aug, 2023 10:23am

Technology

Evergrande NEV shares set to open sharply higher after share sale to NWTN

HONG KONG: Shares of China Evergrande New Energy Vehicle Group(NEV) are set to open 14.7% higher on Tuesday, after...

Published 15 Aug, 2023 10:20am

Asia

China’s suspension of youth jobless data draws public ire

BEIJING: China’s statistics bureau said on Tuesday it had suspended publication of youth jobless data, citing the...

Published 15 Aug, 2023 10:18am

World

At least three dead in Dominican Republic after explosion near capital

At least three people - including a four-month-old baby - died on Monday after an explosion near the Dominican...

Published 15 Aug, 2023 10:14am

Financial

Japan’s Q2 GDP beats forecasts as exports zoom

TOKYO: Japan’s economy grew much faster than expected in April-June, as brisk auto exports and tourist arrivals...

Published 15 Aug, 2023 10:05am

Global conditions contributed to higher inflation in Pakistan: SBP

KARACHI: State Bank of Pakistan (SBP) Governor Jameel Ahmad has said that global economic conditions have largely...

Updated 15 Aug, 2023 10:02am

Bullion Rate

Gold under pressure from elevated US dollar, bond yields

Gold prices eased on Tuesday as the dollar benefited from elevated bond yields and China’s economic concerns, with...

Published 15 Aug, 2023 10:02am

Financial

China central bank cuts rates for second time in three months to support economy

SHANGHAI/SINGAPORE: China’s central bank unexpectedly cut key policy rates for the second time in three months on...

Published 15 Aug, 2023 09:58am

Stocks

Banks and tech stocks lift Australian shares; CSL, Cochlear rally on strong earnings

Australian shares rose on Tuesday, helped by the gains in banks and technology stocks, while healthcare stocks CSL...

Published 15 Aug, 2023 09:57am

Forex

Dollar firm, yuan hits 9-month low after surprise China rate cut

TOKYO: The safe-haven dollar stayed firm against major peers while the yuan sank to a nine-month trough after...

Published 15 Aug, 2023 09:50am

Merchant ships backed up in Black Sea lanes

LONDON: Merchant ships remained backed up in lanes around the Black Sea on Monday as ports struggled to clear...

Updated 15 Aug, 2023 09:46am

UK watchdog kicks off ‘politically-exposed persons’ review

LONDON: Britain’s Financial Conduct Authority said on Monday it will ask lawmakers to report any problems they ...

Updated 15 Aug, 2023 09:20am

Sisi hosts Jordan, Palestinian leaders to discuss Saudi-Israel ties

CAIRO: Egypt’s president on Monday welcomed the Palestinian and Jordanian leaders, Abdel Fattah al-Sisi’s...

Updated 15 Aug, 2023 09:19am

China congratulates Kakar

BEIJING: China on Monday congratulated Anwaar ul Haque Kakar on his nomination as the Caretaker Prime Minister of...

Updated 15 Aug, 2023 09:19am

US Navy joins Army, Marine Corps in having no Senate-confirmed leader

WASHINGTON: The US Navy on Monday became the third branch of the military to no longer have a Senate-confirmed ...

Updated 15 Aug, 2023 09:18am

BR’s refresher: your morning briefing for the day

Important updates from August 14, 2023

Published 15 Aug, 2023 08:39am

Justice Baqar to be Sindh caretaker CM

KARACHI: Former Justice Maqbool Baqar has been named as Sindh caretaker chief minister (CM) as outgoing provincial...

Updated 15 Aug, 2023 08:37am

US says values its relationship with Pakistan

ISLAMABAD: The US Secretary of State Antony Blinken has expressed his country’s strong support for Pakistan’s...

Updated 15 Aug, 2023 08:35am

BR Research

Cement: Pricing it in

Last week, cement prices stood close to Rs1200 per cement bag. Over the past 20 days, average cement price rose by...

Published 15 Aug, 2023 08:24am

BR Research

Remittances - the decline continues!

The weaknesses in remittances have been visible over the last year or so the foreign inflows remain tepid and...

Published 15 Aug, 2023 08:21am

BR Research

Gadoon Textiles Mills Limited

Gadoon Textile Mills Limited (PSX: GADT) was incorporated in Pakistan as a public limited company in 1988. The...

Published 15 Aug, 2023 08:16am

Pakistan

CM performs soft launch of ‘Karachi safe city project’

KARACHI: Sindh Chief Minister Syed Murad Ali Shah has said that the Karachi Safe City Project is not just a...

Published 15 Aug, 2023 07:41am

Pakistan

US CG greets nation on Independence Day

KARACHI: The United States Consulate General in Karachi congratulated people of Pakistan on their 76th Independence...

Published 15 Aug, 2023 07:40am

Pakistan

Murad opens main Hawksbay Road

KARACHI: Sindh Chief Minister Syed Murad Ali Shah inaugurated the newly constructed Main Hawksbay Road, including ...

Published 15 Aug, 2023 07:39am

Pakistan

Murad lays floral wreath at Mazar-e-Quaid

KARACHI: Sindh Chief Minister Syed Murad Ali Shah Monday visited Mazar-e-Quaid, laid a floral wreath, and offered...

Published 15 Aug, 2023 07:37am

Pakistan

Special Olympics World Games 2023: SICPA Pakistan celebrates Sadia Junaid’s victory

KARACHI: Sadia Junaid, a talented athlete representing Special Olympics Pakistan (SOP), participated in the World...

Published 15 Aug, 2023 07:35am

Stocks

S&P 500, Nasdaq rise as Nvidia leads megacap growth stocks gains

NEW YORK: The S&P 500 and the Nasdaq rose on Monday as chipmaker Nvidia spearheaded gains among megacap growth...

Published 15 Aug, 2023 07:32am

Stocks

China shares fall on weak credit data

SHANGHAI: China and Hong Kong stocks fell on Monday as investor sentiment remained subdued after disappointing ...

Published 15 Aug, 2023 07:30am

Stocks

European shares gain on healthcare boost

PARIS: European shares closed higher on Monday, rebounding from a near one-week low, as gains in retail and...

Published 15 Aug, 2023 07:29am

Commodities

Palm oil ends lower for third session

KUALA LUMPUR: Malaysian palm oil futures closed lower for a third straight session on Monday, pressured by a drop in...

Updated 15 Aug, 2023 07:28am

Commodities

Higher dollar, yields drag gold to more than one-month low

NEW YORK: Gold prices fell to a more than one-month low on Monday as a stronger dollar and elevated bond yields took...

Published 15 Aug, 2023 07:27am

Commodities

Copper sinks to six-week low

LONDON: Copper prices slid to six-week lows on Monday as the deteriorating demand outlook in top consumer China was...

Published 15 Aug, 2023 07:08am

Stocks

Indian shares end flat after volatile session

BENGALURU: Indian shares closed mostly unchanged Monday, though they recovered from a more than one-month low hit...

Published 15 Aug, 2023 07:07am

Opinion

A questionable census

On 5th August, the Council of Common Interests unanimously approved the results of the 7th Population Census of...

Published 15 Aug, 2023 06:55am

Opinion

Legitimacy crisis

On this 76th independence anniversary of Pakistan, the heart is sorely charged, the spirit wilting and the mind ...

Updated 15 Aug, 2023 06:58am

Opinion

Gas: No more window dressing, please

Reportedly, the plan to reduce the gas circular debt has been shared with the IMF. It has two components – one is...

Updated 15 Aug, 2023 06:57am

Opinion

Mixed start of FY2023-24

The current financial year, 2023-24, started on a very positive note. The talks with the IMF (International Monetary...

Published 15 Aug, 2023 06:49am

Pakistan

The Weather

KARACHI: The weather report on Monday (August 14, 2023) and the forecast for Tuesday (August 15, 2023)....