News Archives for Latest - 2023-08-16

<<>>

Archive - 2023-08-16

Pakistan

Blinken congratulates caretaker PM, reiterates support as country 'prepares for free and fair elections'

US Secretary of State says will continue to advance shared commitment to economic prosperity

Updated 17 Aug, 2023 12:08am

Business & Finance

SECP bans 120 illegal loan apps for ‘debt trapping’ citizens

Apps were banned in coordination with Google and Apple

Published 16 Aug, 2023 11:37pm

World

US slaps sanctions on entities over alleged arms deals between North Korea, Russia

WASHINGTON: The United States on Wednesday imposed sanctions on three entities it accused of being tied to arms ...

Published 16 Aug, 2023 11:16pm

Europe

UK PM Sunak commits to triple-lock pension policy despite inflation

LONDON: British Prime Minister Rishi Sunak said he was committed to the government's mechanism for increasing state...

Published 16 Aug, 2023 11:03pm

World

US summit with South Korea, Japan, will include ambitious initiatives: US official

WASHINGTON: A US summit with Japan and South Korea on Friday will include an ambitious set of initiatives to lock in...

Published 16 Aug, 2023 10:45pm

Europe

Around 45,000 Muscovites fight in Ukraine: Moscow mayor

MOSCOW: Tens of thousands of Muscovites are taking part in combat operations in Ukraine, the Russian capital's mayor...

Published 16 Aug, 2023 10:35pm

Movies & Music

In review: ‘Heart of Stone’ where Alia Bhatt falters on Hollywood debut

Gal Gadot outshines fellow cast members, but movie leaves lot to be desired

Updated 16 Aug, 2023 10:10pm

Pakistan

Caretaker PM Kakar wasn’t picked by establishment: Khawaja Asif

Says allied parties wanted to pick someone who could ensure transparent elections

Published 16 Aug, 2023 09:56pm

Forex

Dollar edges higher vs intervention-zone yen, China fears weigh on yuan

WASHINGTON/LONDON: The Japanese yen further weakened against the dollar on Wednesday, hovering in a zone that last...

Published 16 Aug, 2023 09:46pm

Business & Finance

Dr Shamshad Akhtar appointed caretaker finance minister

Former SBP governor's appointment comes at a crucial time for Pakistan's economy that has been ravaged by runaway inflation

Updated 16 Aug, 2023 09:35pm

Business & Economy

Pakistan’s caretaker finance minister Dr Shamshad Akhtar: a brief profile

Seasoned economist Dr Shamshad Akhtar has been appointed as the caretaker finance minister on Wednesday following...

Updated 16 Aug, 2023 09:35pm

Energy

US crude stockpiles fall even as output hits 2020 high: EIA

NEW YORK: U.S. crude oil inventories fell last week as oil refiners increased run rates and exports surged, while...

Published 16 Aug, 2023 09:30pm

Energy

Oil steadies as China fears counter tight US supply

Oil prices were little changed on Wednesday despite a large drawdown in U.S. crude oil stocks as investors weighed...

Updated 16 Aug, 2023 09:23pm

USA

WTO rules against China retaliatory tariffs on US imports

GENEVA: World Trade Organization experts ruled Wednesday that tariffs imposed by China on billions worth of US...

Published 16 Aug, 2023 08:59pm

Industry

Azerbaijan Airlines to launch direct flights to Pakistan from Sept 20

Flights will be operated to Islamabad, Lahore, and Karachi

Published 16 Aug, 2023 08:17pm

Pakistan

IHC to hear appeal against conviction of PTI chief on August 22

Case to be heard by an IHC panel comprising Chief Justice Aamer Farooq and Justice Tariq Mehmood Jahangiri

Published 16 Aug, 2023 08:07pm

Cricket

West Indies’ Samuels found guilty of anti-corruption code breach

Former West Indies player Marlon Samuels has been found guilty of four breaches of the Emirates Cricket Board’s...

Published 16 Aug, 2023 07:59pm

Companies

Sitara Peroxide shuts plant for another three weeks

Sitara Peroxide Limited (SPL), Pakistan’s chemical manufacturer, has announced that it is extending its plant...

Updated 16 Aug, 2023 07:42pm

USA

Biden to visit fire-hit Hawaii next week: White House

WASHINGTON: President Joe Biden and his wife Jill Biden will visit Hawaii next week after the deadliest US wildfire...

Published 16 Aug, 2023 07:34pm

Pakistan

IHC orders release of PTI’s Shehryar Afridi, Shandana Gulzar

Suspends MPO orders issued against both PTI leaders

Updated 16 Aug, 2023 07:27pm

Commodities

Gold prices increase Rs900 per tola in Pakistan

Price of 24-carat gold settles at Rs223,800 per tola in local market

Published 16 Aug, 2023 07:21pm

Forex

Rupee continues to stumble, settles at 294.93 against US dollar

Currency depreciates 1.16% in inter-bank market

Updated 16 Aug, 2023 07:22pm

Pakistan

Caretaker PM meets Saudi ambassador, assures SIFC will accelerate efforts to attract Saudi investments

Premier thanks Saudi government for its consistent support for Pakistan’s economic stability and development

Updated 16 Aug, 2023 07:19pm

Europe

Russia’s Luna-25 probe enters Moon orbit

MOSCOW: Moscow’s Luna-25 lander was successfully placed in the Moon’s orbit Wednesday, the first such Russian...

Published 16 Aug, 2023 07:14pm

Football

Emotional Kerr says Australia inspired nation with World Cup run

SYDNEY: An emotional Sam Kerr said her Australia side had inspired the host nation despite the crushing...

Published 16 Aug, 2023 07:02pm

Stocks

Dow, S&P 500 higher ahead of Fed minutes

NEW YORK: Wall Street stocks were mostly higher early Wednesday ahead of the release of Federal Reserve meeting...

Published 16 Aug, 2023 07:00pm

Stocks

KSE-100 sees selling pressure, loses over 400 points amid inflation concerns

Benchmark index settles at 48,146.44, down 0.86%

Updated 16 Aug, 2023 06:47pm

Europe

Cargo ship exits Ukraine port despite threat from Russian navy

KYIV: Kyiv said Wednesday that a civilian cargo vessel had exited its southern port of Odesa despite warnings from...

Published 16 Aug, 2023 06:20pm

Cricket

Pakistan pacer Wahab Riaz retires from international cricket

LAHORE: Pakistani fast bowler Wahab Riaz announced his retirement from international cricket on Wednesday, three...

Published 16 Aug, 2023 06:00pm

Football

Ruthless England beat Australia to set up World Cup final with Spain

SYDNEY: Lauren Hemp and Alessia Russo did the damage late on in Sydney as England shattered Australian dreams...

Published 16 Aug, 2023 06:06pm

Pakistan

Vandalising churches: caretaker prime minister vows stern action over Jaranwala incident

Caretaker Prime Minister Anwaar-ul-Haq Kakar said on Wednesday that he was “gutted by the visuals coming out of...

Published 16 Aug, 2023 06:03pm

Energy

Saudi oil exports fall for third month running

Saudi Arabia’s crude oil exports fell for a third straight month in June to their lowest since September 2021, data...

Published 16 Aug, 2023 05:19pm

Pakistan

2 terrorists killed in IBO in North Waziristan’s Razmak: ISPR

Weapons and ammunition recovered from the killed terrorists, says Inter-Services Public Relations

Updated 16 Aug, 2023 05:03pm

South Asia

India approves $7bn plan for electric buses in nearly 170 cities

NEW DELHI: India approved plans on Wednesday to deploy 10,000 electric buses in 169 cities, along with charging and...

Published 16 Aug, 2023 05:02pm

Stocks

Indian shares rise as IT, auto offset slide in financials, metals

BENGALURU: Indian shares edged up on Wednesday, as a rise in information technology (IT), auto and pharmaceutical...

Published 16 Aug, 2023 04:42pm

Commodities

Copper edges above 7-week low, zinc slumps after jump in inventories

LONDON: Copper prices edged above seven-week lows on Wednesday as a weaker dollar offered support while zinc slumped...

Published 16 Aug, 2023 04:39pm

Commodities

Palm oil logs second daily rise on slow output growth, weak ringgit

KUALA LUMPUR: Malaysian palm oil futures closed higher for a second straight session on Wednesday, supported by a...

Published 16 Aug, 2023 04:37pm

Movies & Music

Indian movies vilifying Muslims spark fear ahead of polls

MUMBAI: With free tickets and false claims, ‘The Kerala Story’ is one of a slew of polarising films sparking concern...

Published 16 Aug, 2023 03:41pm

Movies & Music

In remembrance: Pakistan’s ‘Shahenshah-e-Qawwali’ Ustad Nusrat Fateh Ali Khan

Nusrat Fateh Ali passed away on this day in 1997

Updated 16 Aug, 2023 03:03pm

Pakistan

Look forward to working with Pakistan’s interim PM on ‘free and fair’ polls: US State Dept

United States Department spokesperson Vedant Patel says Washington will continue to partner with Pakistan on areas of mutual interest

Updated 16 Aug, 2023 02:59pm

Forex

Indian rupee recovers on offshore NDF, may avoid record low when onshore reopens

MUMBAI: The Indian rupee on Wednesday managed to recover against the US dollar in the offshore non-deliverable...

Published 16 Aug, 2023 02:48pm

Business & Finance

Burger King says tomatoes on ‘vacation’ as India battles food inflation

NEW DELHI/CHENNAI: Burger King has scrapped tomatoes from its wraps and burgers in many Indian outlets after prices...

Published 16 Aug, 2023 02:42pm

Asia

Indonesian president tables $216bn budget for 2024

JAKARTA: Indonesian President Joko Widodo proposed a budget of 3,304.1 trillion rupiah ($216.24 billion) on...

Published 16 Aug, 2023 02:34pm

Companies

Independence Day Celebration by Haier

Amidst the vibrant colors of patriotism, Haier, a leading home appliances brand of Pakistan, celebrated this year’s...

Published 16 Aug, 2023 02:30pm

Stocks

Most Gulf markets fall as Chinese data disappoints

Most stock markets in the Gulf fell in early trading on Wednesday, tracking oil prices and Asian shares lower as...

Published 16 Aug, 2023 02:29pm

Sports

England’s Stokes comes out of ODI retirement ahead of World Cup

England’s talismanic all-rounder Ben Stokes has reversed his decision to retire from one-day internationals (ODI)...

Published 16 Aug, 2023 02:26pm

Sports

Skipper Kerr to start for Australia in World Cup semi-final

BRISBANE: Talismanic striker Sam Kerr was named in Australia’s starting line-up for the first time at the Women’s...

Published 16 Aug, 2023 02:20pm

Technology

Russia’s Luna-25 probe to reach Moon orbit

MOSCOW: Moscow’s Luna-25 lander is due to reach the Moon’s orbit Wednesday, in the first such Russian mission in...

Published 16 Aug, 2023 02:18pm

Europe

Romania ‘strongly condemns’ Russian Danube attacks

BUCHAREST: Romania on Wednesday said it “strongly condemns” repeated Russian attacks on Ukraine’s Danube...

Published 16 Aug, 2023 02:17pm

BR Research

Crescent Steel and Allied Products Limited

Crescent Steel and Allied Products Limited (PSX: CSAP) was incorporated in Pakistan as a public limited company in...

Updated 16 Aug, 2023 02:03pm

Mutual Funds

Japan superlong yields fall as China data spurs demand for safer securities

TOKYO: Japanese superlong bond yields fell on Wednesday, as heightening worries about a slowdown in China and its...

Published 16 Aug, 2023 12:43pm

Stocks

FTSE 100 drops as inflation remains sticky

The FTSE 100 index continued its sell-off on Wednesday after data showed that underlying inflation remained high,...

Published 16 Aug, 2023 12:42pm

Forex

South African rand inches up before retail sales data

JOHANNESBURG: The South African rand inched up in early trade on Wednesday, reversing some of the previous day’s...

Published 16 Aug, 2023 12:40pm

Stocks

European shares open lower as China-exposed miners weigh

European shares opened lower on Wednesday as China-exposed miners led losses following lacklustre economic data from...

Published 16 Aug, 2023 12:38pm

Forex

Russian rouble steadies near 97 vs dollar after emergency rate hike

The Russian rouble steadied near 97 to the dollar on Wednesday, one day after the central bank hiked interest rates...

Published 16 Aug, 2023 12:36pm

Europe

Russia says shot down three drones southwest of Moscow

MOSCOW: Russia’s defence ministry said Wednesday it shot down three Ukrainian drones southwest of Moscow, the latest...

Published 16 Aug, 2023 11:42am

Sports

‘Spy’ chopper and ‘old tricks’ as Australia, England clash at World Cup

SYDNEY: A “spy” helicopter and warnings they are entering “the jungle” are a taste of the national fervour England...

Published 16 Aug, 2023 11:38am

Sports

Alcaraz battles through rain, holder Garcia out

CINCINNATI: Carlos Alcaraz battled through a rain interruption to claim his 50th win of the season, defeating Jordan...

Published 16 Aug, 2023 11:33am

USA

Hawaii wildfire toll tops 100

KAHULUI: The number of people known to have died in the horrific wildfire that levelled a Hawaiian town reached 106...

Published 16 Aug, 2023 11:30am

Africa

Clashes between rival factions in Libya capital kill 27: medics

TRIPOLI: Gun battles between two leading armed groups in the Libyan capital Tripoli have killed 27 people and...

Published 16 Aug, 2023 11:24am

South Asia

US asks Iran to stop selling drones to Russia

US is pushing Iran to stop selling armed drones to Russia as part of discussions on a broader unwritten...

Published 16 Aug, 2023 11:19am

Europe

Ukraine says recaptures Urozhaine in Donetsk region from Russian forces

KYIV: Ukraine’s forces have entrenched themselves on the outskirts of Urozhaine after recapturing the settlement in...

Published 16 Aug, 2023 11:12am

Energy

India fuel sales slow due to monsoon rains

NEW DELHI: Indian state retailers’ gasoline and diesel sales fell in the first half of August from the previous...

Published 16 Aug, 2023 11:01am

Sports

Sleeping giants Spain awaken at Women’s World Cup

MELBOURNE: For a global soccer power boasting a men’s world championship and thriving domestic leagues, Spain’s long...

Published 16 Aug, 2023 10:53am

Stay pleas sans recovery notice being rejected by ATIR: KTBA

KARACHI: Appeals Tribunal Inland Revenue (ATIR) has started refusing to admit stay applications without recovery...

Updated 16 Aug, 2023 10:44am

High interest rates, power tariffs, costly raw materials: Textile sector will continue to face economic headwinds: APTMA

ISLAMABAD: The textile sector will continue to experience economic headwinds related to high interest rates,...

Updated 16 Aug, 2023 10:42am

Economic policies: Kakar says will ensure continuity

An increase in foreign investment under the Special Investment Facilitation Council (SIFC) would remain one of the key priorities of the government, adds the caretaker PM

Updated 16 Aug, 2023 10:42am

Stocks

Asia stocks fall as weak China data weigh

HONG KONG: Asia stocks hit a 11-week low on Wednesday as renewed concerns about US interest rates slugged Wall...

Published 16 Aug, 2023 10:36am

Sports

Messi magic continues as Inter Miami reach Leagues Cup final

Lionel Messi notched his ninth goal in six matches as Inter Miami crushed Philadelphia Union 4-1 to reach the...

Published 16 Aug, 2023 10:34am

Financial

NZ central bank sees cash rate on hold until 2025

WELLINGTON: New Zealand’s central bank held the cash rate steady at 5.5% on Wednesday but slightly pushed out when...

Published 16 Aug, 2023 10:30am

Commodities

Philippines recommends 500,000 MT rice imports to cover El Nino-related crop losses

MANILA: The Philippines’ Department of Agriculture is recommending additional rice importation of about 500,000...

Published 16 Aug, 2023 10:27am

Commodities

Palm oil advances to nine-day high on rising exports, weak ringgit

KUALA LUMPUR: Malaysian palm oil futures jumped for a second straight session on Wednesday and hit a nine-day high...

Published 16 Aug, 2023 10:24am

Commodities

Copper hovers around 7-week low amid China economy concerns, higher supply

BEIJING: Copper prices hovered around a seven-week low on Wednesday, amid worries over the health of top metals...

Published 16 Aug, 2023 10:23am

Bullion Rate

Gold wavers near recent lows as traders bet on more US rate hikes

Gold prices stalled on Wednesday, a day after breaching the key $1,900 support level for the first time in 1-1/2...

Published 16 Aug, 2023 10:20am

Technology

Intel to drop $5.4bn Tower deal after China review delay

NEW YORK: Intel Corp will drop its $5.4 billion deal to acquire Israeli contract chipmaker Tower Semiconductor Ltd...

Published 16 Aug, 2023 10:18am

Forex

China’s yuan hovers at nine-month low on widening US-China rate gap, property woes

HONG KONG: China’s yuan eased to a nine-month low on Wednesday, as the widening gap between US and China interest...

Published 16 Aug, 2023 10:15am

Stocks

Cathay Pacific clears about $38mn dividend payment on preference share

Cathay Pacific Airways said on Wednesday it has paid a dividend of HK$292.5 million ($37.4 million) due on...

Published 16 Aug, 2023 10:11am

Commodities

Corn inches higher from 2020 lows; bumper US output bets limit gains

SINGAPORE: Chicago corn edged higher on Wednesday with a round of bargain-buying supporting prices after the market...

Published 16 Aug, 2023 10:10am

Real Estate

China’s new home prices fall for first time this year, dimming economic outlook

BEIJING: China’s new home prices fell for the first time this year in July, the latest in a string of downbeat data...

Published 16 Aug, 2023 10:07am

Forex

Australian dollar hit fresh nine-month lows, kiwi helped by hawkish RBNZ

SYDNEY: The Australian and New Zealand dollars plumbed fresh nine-month lows on Wednesday as investors still smarted...

Published 16 Aug, 2023 10:05am

Stocks

Australia shares fall most in about 6 weeks on Fed rates, China economy woes

Australian shares posted their biggest drop in about six weeks on Wednesday, as concerns about China’s sluggish...

Published 16 Aug, 2023 10:03am

Stocks

Indian shares open lower dragged by financials

BENGALURU: Indian shares opened lower on Wednesday, dragged by financials and energy stocks, amid concerns over a...

Published 16 Aug, 2023 09:58am

Stocks

Japan’s Nikkei touches over 2-month low on China worries

TOKYO: Japan’s Nikkei share average touched a more than two-month low on Wednesday as China’s economic outlook...

Published 16 Aug, 2023 09:57am

Forex

Yen treads on intervention zone; kiwi, Aussie dollars hit

SINGAPORE: The yen languished near its weakest level in nine months on Wednesday and kept traders on alert for any...

Published 16 Aug, 2023 09:55am

World

Eleven killed in explosion in Dominican Republic

SAN CRISTOBAL: Eleven people have died after an explosion ripped through a small town in the Dominican Republic,...

Published 16 Aug, 2023 09:47am

Stocks

Hong Kong stocks open lower on China woes, US rate fears

HONG KONG: Hong Kong stocks opened lower on Wednesday on concerns about the Chinese economy and a possible further...

Published 16 Aug, 2023 09:43am

USA

UN denounces dramatic jump in Colombia violence

BOGOTÁ: Over 50 massacres took place in Colombia in the first half of this year, an increase of 11 percent, despite...

Published 16 Aug, 2023 09:40am

South Asia

Death toll from Myanmar jade mine landslide hits at least 31

YANGON: The death toll from a landslide at an unregulated jade mine in a remote part of Myanmar has hit at least 31,...

Published 16 Aug, 2023 09:38am

Prices of petrol, diesel increased by upto Rs20

ISLAMABAD: The caretaker government has announced an increase in the ex-depot price of petroleum products up to Rs...

Updated 16 Aug, 2023 09:18am

Delimitation: CJP asks ECP to carry out process in transparent manner

ISLAMABAD: Chief Justice Umar Ata Bandial noted delimitation of constituencies is a matter of public interest and...

Updated 16 Aug, 2023 09:17am

Recovery of Rs24.5bn from KE consumers: Govt seeks to impose Rs1.52/unit surcharge

ISLAMABAD: The federal government seeks to impose Rs1.52 per unit surcharge on K-Electric (KE) to recover Rs24.5...

Updated 16 Aug, 2023 09:16am

Kakar for expediting ongoing projects

ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar has directed the concerned authorities to work on the...

Updated 16 Aug, 2023 08:59am

Filers/non-filers: Sec 7E won’t apply to cases falling within LHC jurisdiction

ISLAMABAD: The Federal Board of Revenue (FBR) has implemented the judgment of the Lahore High Court (LHC) on Section...

Updated 16 Aug, 2023 08:48am

Acquiring Escorts Bank shares: Public announcement of intention received

KARACHI: Escorts Investment Bank Limited has received a notice of public announcement of intention from Arif Habib...

Updated 16 Aug, 2023 08:47am

LSMI output down 10.26pc YoY

ISLAMABAD: The Large Scale Manufacturing Industries (LSMI) output has declined by 10.26 percent during the fiscal...

Updated 16 Aug, 2023 08:46am

BR’s refresher: your morning briefing for the day

Important updates from August 15, 2023

Published 16 Aug, 2023 08:44am

BR Research

Currency: Aftershocks to the system

The currency is slipping again. There is pressure on the currency for the last few working days in the open market...

Published 16 Aug, 2023 08:35am

BR Research

Oil shows no retreat

As Brent crude stays firm staying over $85/bbl, showing strong resistance – energy commodities outside of oil have...

Published 16 Aug, 2023 08:31am

Pakistan

Nawaz calls party leaders’ meeting in London

LAHORE: Pakistan Muslim League-Nawaz (PML-N) Quaid and former Prime Minister Nawaz Sharif has called a meeting of ...

Updated 16 Aug, 2023 06:23am

Opinion

Pakistan mineral outlook

Recently, an important conference, ‘Pakistan Mineral Summit’, has been organised in Islamabad by the Petroleum...

Updated 16 Aug, 2023 06:18am

Editorials

Abbasi sets the record straight

EDITORIAL: Former prime minister and senior PML-N (Pakistan Muslim League-Nawaz) leader Shahid Khaqan Abbasi pulled...

Updated 16 Aug, 2023 06:12am

Editorials

What happens when cash reigns supreme?

EDITORIAL: In the last decade, authorities had supposedly lent focus to expand documentation of the economy. But,...