News Archives for Latest - 2023-08-22

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Archive - 2023-08-22

Pakistan

No proposal to ban PTI under consideration: Interim interior minister

Denies mistreatment with Imran Khan in jail

Published 22 Aug, 2023 11:58pm

Pakistan

Battagram cable car: all 8 passengers have been rescued, confirms caretaker PM Kakar

Eight people, including at least six children, were using the cable car to cross the valley

Updated 22 Aug, 2023 11:41pm

Movies & Music

‘Rawalpindi Express - A Shoaib Akhtar Biopic’ teaser released despite controversy

A teaser of the film based on former fast-bowler Shoaib Akhtar’s life, ‘Rawalpindi Express - A Shoaib Akhtar...

Updated 22 Aug, 2023 11:06pm

World

US says Ukraine war not a stalemate

WASHINGTON: A top US official said Tuesday that the war in Ukraine has not bogged down into a stalemate, amid...

Published 22 Aug, 2023 11:05pm

USA

Biden to push IMF and World Bank reforms at G20 summit: White House

WASHINGTON: US President Joe Biden will urge reforms to the IMF and World Bank that will better serve developing...

Published 22 Aug, 2023 09:51pm

Cricket

Rauf leads Pakistan’s rout of Afghanistan in first ODI

HAMBANTOTA: Fiery pacer Haris Rauf led a pace assault on Afghanistan with a career-best five-wicket haul to give...

Updated 22 Aug, 2023 09:03pm

Opinion

Descent into madness, barbarism

The events of August 16, 2023 in Jaranwala have evoked an unusual chorus in harmony of condemnation. And so they...

Updated 22 Aug, 2023 08:48pm

Stocks

KSE-100 edges lower in directionless trade

Pakistan Stock Exchange’s (PSX) benchmark index KSE-100 closed slightly lower on Tuesday after witnessing a...

Published 22 Aug, 2023 08:28pm

Stocks

Wall St loses steam as higher Treasury yields weigh, Nvidia erases gains

Wall Street’s main indexes pared gains on Tuesday, as U.S. Treasury yields rose on growing worries about interest...

Published 22 Aug, 2023 08:08pm

Technology

Elon Musk’s X plans to remove headlines from links to news articles

Elon Musk is pushing to change how news links appear on his social media platform X, formerly called Twitter, in a...

Published 22 Aug, 2023 08:02pm

Pakistan

Caretaker govt to ensure transparent, impartial election process: PM Kakar

Premier says caretaker government will function for a limited period to ensure the election process

Updated 22 Aug, 2023 07:46pm

Technology

Meta rolls out web version of Threads

Meta Platforms said on Tuesday it was launching the web version of its new text-first social media platform Threads,...

Published 22 Aug, 2023 07:34pm

USA

US existing home sales drop, but prices up from a year earlier

U.S. existing home sales dropped to a six month-low in July as home owners who are locked into cheap mortgages...

Published 22 Aug, 2023 07:30pm

Stocks

Tech shares extend gains, lifting Nasdaq

NEW YORK: Wall Street stocks mostly climbed early Tuesday behind gains from large tech names as markets weighed...

Published 22 Aug, 2023 07:23pm

Currency

Record low in inter-bank market: rupee settles at 299.01 against US dollar

Currency depreciates 0.63% on Tuesday
This is its weakest closing since it hit 298.93 on May 11 earlier this year

Updated 22 Aug, 2023 07:16pm

Commodities

Gold gains further in local market as rupee declines to record low

Price of 24-carat bar settles at Rs234,500 per tola after increase of Rs4,600 in one day

Published 22 Aug, 2023 07:13pm

Stocks

Most Gulf markets track oil prices lower; Egypt jumps

Most stock markets in the Gulf ended lower on Tuesday on falling oil prices, while the approaching Jackson Hole...

Published 22 Aug, 2023 06:58pm

Pakistan

Six soldiers embrace martyrdom, 4 terrorists killed

ISLAMABAD: Six Pakistani soldiers embraced martyrdom and four terrorists were killed in an exchange of fire in the...

Updated 22 Aug, 2023 06:47pm

Energy

Oil steadies as China woes persist

LONDON: Oil prices were little changed on Tuesday as investors remained focused on the likelihood of China’s...

Updated 22 Aug, 2023 06:44pm

Pakistan

Six Indian smugglers apprehended inside Pakistani territory: ISPR

Smugglers will be dealt as per law, adds Inter-Services Public Relations

Updated 22 Aug, 2023 06:42pm

Cricket

England women’s World Cup winner Hartley to retire from cricket

LONDON: Alex Hartley, a member of the England side that won the 2017 Women’s World Cup final, has said she will...

Published 22 Aug, 2023 06:14pm

Middle East

Iran unveils its latest attack drone

TEHRAN: Iran unveiled on Tuesday its latest domestically built drone that can fly at a higher altitude and for a...

Published 22 Aug, 2023 05:51pm

Europe

Greece forest fires death toll hits 20

ALEXANDROUPOLI: Eighteen suspected migrants were found dead Tuesday in a Greece forest fire near the Turkish border...

Published 22 Aug, 2023 05:45pm

Asia

China coal mine explosion kills 11: state media

BEIJING: A coal mine explosion killed 11 people in Shaanxi province in northern China, state media reported...

Published 22 Aug, 2023 05:39pm

Europe

Russia says it destroys Ukrainian boat in Black Sea

MOSCOW: Russia said on Tuesday its forces destroyed a Ukrainian military boat in the Black Sea, the second vessel it...

Published 22 Aug, 2023 05:27pm

USA

US commerce secretary to visit China next week for talks

BEIJING: US commerce secretary Gina Raimondo will visit China next week, Beijing and Washington said Tuesday, adding...

Published 22 Aug, 2023 05:22pm

Cricket

Bangladesh’s Ebadot ruled out of Asia Cup

DHAKA: Bangladesh fast bowler Ebadot Hossain has been ruled out of the ODI Asia Cup in Pakistan and Sri Lanka with a...

Published 22 Aug, 2023 05:18pm

Stocks

Indian blue-chips muted on global woes, mid-caps hit record high

BENGALURU: Indian blue-chip shares were little changed on Tuesday due to persistent concerns over U.S. interest...

Published 22 Aug, 2023 04:47pm

Stocks

Sri Lanka shares end lower as industrials weigh

CSE All Share index settled down 0.52% at 11,279.03

Published 22 Aug, 2023 04:44pm

Commodities

Copper extends gains on firmer Chinese demand, weak dollar

LONDON: Copper prices rose on Tuesday for the fourth session, buoyed by firm consumption data in China, more Chinese...

Published 22 Aug, 2023 04:42pm

Commodities

Palm oil erases Monday’s gains on weaker rivals

SINGAPORE: Malaysian palm oil futures finished nearly 2% lower on Tuesday following a dip in rival edible oils,...

Published 22 Aug, 2023 04:40pm

Movies & Music

Rihanna a mom again: report

LOS ANGELES: Rihanna has given birth to a baby boy, her second child with rapper A$AP Rocky, a report said...

Published 22 Aug, 2023 04:36pm

Energy

Pakistan’s power generation up nearly 5% year-on-year

Power generation in Pakistan clocked in at 14,839 GWh (19,945MW) in July 2023, up 4.9% as compared to the same...

Updated 22 Aug, 2023 04:03pm

Companies

BankIslami’s consolidated profit up 253% in 6MCY23

BankIslami Pakistan Limited posted consolidated earnings of Rs5.1 billion for the first six months of year 2023, up...

Published 22 Aug, 2023 03:41pm

Middle East

Israeli forces kill Palestinian teen in West Bank clash

RAMALLAH: Israeli forces shot and killed a Palestinian teen after a military raid in the occupied West Bank on...

Published 22 Aug, 2023 03:22pm

Financial

Sri Lanka central bank likely to cut rates again as inflation eases

COLOMBO: Sri Lanka’s central bank is expected to further loosen monetary policy on Thursday, albeit by a smaller...

Published 22 Aug, 2023 03:05pm

Movies & Music

‘Barbie’ hits a nerve in Gulf

DUBAI: After being banned in some Arab countries, the film ‘Barbie’ is dividing audiences in the conservative...

Published 22 Aug, 2023 02:38pm

Sports

American Richardson claims world gold in women’s 100m

BUDAPEST: Sha’Carri Richardson finally delivered on three years of promise when the American overcame the challenge...

Published 22 Aug, 2023 01:23pm

Europe

Ukraine’s Zelenskiy has ‘fruitful’ talks with Serbian president

KYIV: Ukrainian President Volodymyr Zelenskiy said on Tuesday he had had “open, honest and fruitful” talks with...

Published 22 Aug, 2023 01:16pm

Forex

Rouble weakens to 94 vs dollar, waiting for tax payment support

The Russian rouble weakened to 94 per dollar on Tuesday, waiting for the favourable impact of a month-end tax period...

Published 22 Aug, 2023 01:14pm

Forex

Kenyan shilling loses ground; energy sector FX demand weighs

NAIROBI: Kenya’s shilling lost ground on Tuesday, undermined by persistent demand for dollars from the energy,...

Published 22 Aug, 2023 01:10pm

Sports

Chelsea midfielder Chukwuemeka undergoes surgery

Chelsea midfielder Carney Chukwuemeka has undergone surgery after sustaining a knee injury during Sunday’s Premier...

Published 22 Aug, 2023 01:08pm

Commodities

Palm oil tracks rival edible oils over 1% lower

SINGAPORE: Malaysian palm oil futures fell on Tuesday following a dip in rival edible oils, although strong export...

Updated 22 Aug, 2023 12:56pm

South Asia

UN says over 200 former Afghan military, officials killed since Taliban takeover

More than 200 members of Afghanistan’s former military, law enforcement and government have been killed since the...

Published 22 Aug, 2023 12:53pm

Forex

South African rand stronger as BRICS summit kicks off

JOHANNESBURG: The South African rand was stronger in early trade on Tuesday, the first day of the BRICS summit of...

Published 22 Aug, 2023 12:50pm

Energy

India’s July Russian oil imports dip; Saudi import down to 2-1/2-yr low

NEW DELHI: India’s July crude oil imports from Russia dipped for the first time in nine months, while inbound...

Published 22 Aug, 2023 12:49pm

Stocks

London stocks bounce at open, Wood Group rises

UK shares opened higher on Tuesday, with the blue-chip FTSE 100 index lifting off six-week lows, powered by gains in...

Published 22 Aug, 2023 12:46pm

Energy

Egypt announces new oil discovery in Gulf of Suez

DUBAI: Egypt’s petroleum ministry on Tuesday announced a new oil discovery in the Geisum and Tawila West Concession...

Published 22 Aug, 2023 12:45pm

Stocks

Australian shares end higher on financial boost; BHP Group, Coles slide

Australian shares edged higher on Tuesday, led by gains in financial and gold stocks, while grocer Coles and...

Updated 22 Aug, 2023 12:37pm

Stocks

Tokyo stocks close higher

TOKYO: Tokyo stocks closed higher on Tuesday, led by tech shares, following a rally on Wall Street. The benchmark...

Updated 22 Aug, 2023 12:25pm

Stocks

European stocks gain at open

LONDON: European stocks climbed on Tuesday morning, after gains in Asia following a Wall Street rally. London’s...

Published 22 Aug, 2023 12:21pm

Business & Finance

Profits, revenues sink at Australia mining giant BHP

SYDNEY: Australian mining giant BHP on Tuesday recorded a major slump in annual profits, which dropped almost 40...

Published 22 Aug, 2023 12:12pm

Asia

China’s Xi arrives in South Africa for BRICS summit

BEIJING: President Xi Jinping has arrived in South Africa, Chinese state media reported Tuesday, where he will...

Published 22 Aug, 2023 12:09pm

Stocks

Hong Kong stocks tick up at open after run of losses

HONG KONG: Hong Kong stocks opened slightly higher Tuesday after seven successive losses as traders tracked a...

Published 22 Aug, 2023 12:01pm

Europe

Two dead as Greece battles growing wildfire front

ATHENS: Greece on Tuesday was battling a growing wildfire front that killed two and forced widespread evacuations in...

Published 22 Aug, 2023 11:55am

Sports

Johnson can shine in South Africa, says Australia T20 skipper Marsh

SYDNEY: Australia’s new Twenty20 captain Mitchell Marsh said Tuesday that the “incredible talent” of uncapped fast...

Published 22 Aug, 2023 11:52am

Sports

Mutineers silent as Spain enjoy Women’s World Cup triumph

MADRID: Spain put aside months of turmoil and division to claim their first Women’s World Cup title on Sunday,...

Published 22 Aug, 2023 11:47am

Sports

Women’s World Cup final draws record TV figures in Spain, England

The 2023 Women’s World Cup final attracted record television viewing figures for women’s football, capping off a...

Published 22 Aug, 2023 11:42am

Europe

Ukrainian drone hits apartments, cars in town near Moscow, says Russia

Russian officials said early on Tuesday that the military had brought down four Ukrainian drones near Moscow and...

Published 22 Aug, 2023 11:35am

Mutual Funds

Japan’s 10-year yield hits over 9-year high, crosses BOJ intervention level

TOKYO: Japan’s 10-year government bond yield hit a more than nine-year high on Tuesday, crossing a level that had...

Published 22 Aug, 2023 11:26am

Forex

Indian rupee caught between further rise in US yields, yuan recovery

MUMBAI: The Indian rupee is likely to open little changed on Tuesday on the back of a recovery in the Chinese yuan...

Published 22 Aug, 2023 11:23am

Middle East

Dubai airport tops pre-pandemic passenger traffic in first half

DUBAI: Dubai’s main airport reported a 49% surge in passenger traffic in the first half of the year to 41.6 million,...

Published 22 Aug, 2023 11:17am

Commodities

Wheat rebounds as US crop ratings decline; soybeans, corn firm

SINGAPORE: Chicago wheat futures rose on Tuesday, recouping some of last session’s losses with a potential decline...

Published 22 Aug, 2023 11:12am

Mutual Funds

India bond yields inch up as 10-yr US yield hits 16-yr high

MUMBAI: Indian government bond yields edged higher in the early session on Tuesday, mirroring US peers, which hit...

Published 22 Aug, 2023 11:09am

Forex

China’s yuan finds footing near 9-month lows as Beijing slows slide

HONG KONG: China’s battered yuan found respite on Tuesday as efforts by authorities to slow its decline gained some...

Published 22 Aug, 2023 11:04am

Commodities

China July soybean imports from US tumble, Brazil shipments surge

BEIJING: China’s soybean imports from the United States tumbled 63% in July from a year earlier while shipments from...

Published 22 Aug, 2023 10:59am

South Asia

Why are space agencies racing to the moon’s south pole?

BENGALURU/WASHINGTON: India’s space agency is attempting to land a spacecraft on the moon’s south pole, a mission...

Published 22 Aug, 2023 10:57am

Forex

Philippine peso among top gainers; Jackson Hole meet in focus

The Philippine peso was among the top gainers in Asian currencies on Tuesday after the central bank said it could...

Published 22 Aug, 2023 10:50am

Business & Finance

S&P downgrades multiple US banks citing ‘tough’ operating conditions

S&P Global on Monday cut credit ratings and revised its outlook for multiple US banks, following a similar move...

Published 22 Aug, 2023 10:46am

Stocks

Soaring yields leave stocks struggling for headway

SINGAPORE: Treasury yields hit new decade highs in Asia on Tuesday as traders grew wary of how long interest rates...

Published 22 Aug, 2023 10:43am

Financial

Cryptoverse U.S. retail traders eye a fresh piece of the crypto derivatives pie

America’s mom and pop bitcoin buffs have a shiny new derivatives playground that cryptocurrency analysts hope will...

Published 22 Aug, 2023 10:40am

Stocks

India’s Jio Financial slides 5% again as index funds sell-off continues

BENGALURU: Shares in India’s Jio Financial Services (JFS), part of Reliance Industries, fell a maximum of 5% for a...

Published 22 Aug, 2023 10:33am

World

BRICS leaders meet in South Africa as bloc weighs expansion

JOHANNESBURG: Leaders of the BRICS nations - Brazil, Russia, India, China and South Africa - are due to open a...

Published 22 Aug, 2023 10:31am

Asia

Japan to release Fukushima water into ocean starting

TOKYO: Japan said on Tuesday it will start releasing more than 1 million metric tonnes of treated radioactive water...

Published 22 Aug, 2023 10:25am

Power sector grabs finance minister’s immediate attention

Caretaker Finance Minister Shamshad Akhtar visits Federal Board of Revenue to review progress so far on implementation of $3 billion Stand-by-Arrangement of the International Monetary Fund

Updated 22 Aug, 2023 10:06am

Financial

BOJ Governor Ueda to meet with PM Kishida

TOKYO: Bank of Japan Governor Kazuo Ueda will meet Prime Minister Fumio Kishida on Tuesday, Jiji news agency...

Published 22 Aug, 2023 10:05am

Business & Finance

Indonesia posts first quarterly current account deficit in 2 years

JAKARTA: Indonesia’s current account returned to a deficit for the first time in two years in the second quarter,...

Published 22 Aug, 2023 10:03am

Bullion Rate

Gold finds support despite surge in US bond yields

Gold prices firmed above recent lows on Tuesday, with the non-yielding asset holding ground despite US Treasury...

Published 22 Aug, 2023 10:00am

Courts can’t examine, implement economic, fiscal policies: SC

ISLAMABAD: The Supreme Court said the government and not the courts can examine and implement economic and fiscal...

Updated 22 Aug, 2023 09:57am

All govt agencies required to implement PCA of imports, exports

ISLAMABAD: The Federal Board of Revenue (FBR) has made it compulsory for all the government agencies integrated with...

Updated 22 Aug, 2023 09:56am

Stocks

Indian shares open flat amid concerns over China economy, US rates

BENGALURU: Indian shares opened little changed on Tuesday amid risk aversion due to persistent concerns over the...

Published 22 Aug, 2023 09:56am

Forex

Australia, NZ dollars hug the floor; yields hit 9-year high

SYDNEY: The Australian and New Zealand dollars didn’t stray far from key support levels on Tuesday ahead of the...

Published 22 Aug, 2023 09:53am

Existing pacts, ongoing projects: Caretaker setup allowed to take actions, decisions

ISLAMABAD: The Election Commission of Pakistan (ECP) has allowed the caretaker governments to take “actions or...

Updated 22 Aug, 2023 09:51am

Technology

Looking to tackle outdated HR functions, Pakistan’s Paismo announces raising $1.3mn in seed round

KARACHI: Pakistan’s HR tech startup Paismo on Tuesday announced it has raised $1.3 million in a seed round, which...

Updated 22 Aug, 2023 09:42am

Forex

Dollar hovers near highs as US yields surge; PBOC bolsters yuan

TOKYO: The US dollar held close to a 10-week peak versus a basket of major peers, and near its highest since...

Published 22 Aug, 2023 09:42am

Waqar responds to President’s allegation

ISLAMAABD: Hours after his removal’s request as secretary to the President, Waqar Ahmed on Monday issued a statement...

Updated 22 Aug, 2023 09:38am

Jul-Mar FY23: New loan pacts worth $7.228bn signed with development partners: EAD

ISLAMABAD: A prudent external debt management strategy coupled with strong institutional arrangements is necessary...

Updated 22 Aug, 2023 09:27am

$2.89bn borrowed from multiple financing sources in July

ISLAMABAD: The country borrowed $2.890 billion from multiple financing sources during the first month (July) of the...

Updated 22 Aug, 2023 09:12am

Clarification of ATIR orders: FTO summons FBR’s Member Legal (IR) over ‘inaction’

ISLAMABAD: The Federal Tax Ombudsman (FTO) has summoned Member Legal (Inland Revenue) Federal Board of Revenue (FBR)...

Updated 22 Aug, 2023 08:57am

Govt collects Rs75bn PL in July

ISLAMABAD: The government collected Rs 75 billion in July 2023 on account of petroleum levy (PL), a key source of...

Updated 22 Aug, 2023 08:56am

BR’s refresher: your morning briefing for the day

Important updates from August 21 2023

Published 22 Aug, 2023 08:42am

B4 industrial consumers: PALSP urges Nepra to facilitate renewable energy integration into grid

ISLAMABAD: Pakistan Association of Large Steel Producers has asked NEPRA to facilitate renewable energy integration...

Updated 22 Aug, 2023 08:42am

Secretary to President replaced: Alvi will neither resign nor cross ‘red line’?

ISLAMABAD: President Alvi’s tweet on Sunday followed by his Secretariat seeking the termination of services of Waqar...

Updated 22 Aug, 2023 08:41am

BR Research

Understanding credit side of inflation

The current tightening cycle, which began almost two years ago in Sep 2021 is showing no sign of abatement,...

Published 22 Aug, 2023 08:38am

BR Research

The ‘resilient’ palm oil demand

While the imports of pretty much everything else has gone down – Pakistan’s love for palm oil seems to be intact....

Published 22 Aug, 2023 08:36am

BR Research

Al-Ghazi Tractors Limited

Al-Ghazi Tractors Limited (PSX: AGTL) was incorporated in Pakistan as a public limited company in June, 1983. AGTL...

Published 22 Aug, 2023 08:33am

Letters

The truth, but not the whole truth

That the President of Pakistan Dr Arif Alvi has caused a serious controversy by claiming that the two bills that...

Updated 22 Aug, 2023 07:00am

Opinion

Rising unemployment and falling real wages

The devastation caused by the floods and the resulting supply shortages, along with severe import restrictions, has...

Updated 22 Aug, 2023 06:53am

Editorials

Still no date

EDITORIAL: ECP (Election Commission of Pakistan) has given a date for completion of fresh delimitation of national...

Updated 22 Aug, 2023 06:50am

Editorials

The govt debt

EDITORIAL: State Bank of Pakistan (SBP) has uploaded government debt figures on its website that support the view of...

Updated 22 Aug, 2023 06:48am

Business & Finance

Duty drawback schemes: Sept 30 final date for resubmission of claims

KARACHI: Following the directives of the Ministry of Commerce, final date for resubmission of claims under duty...

Published 22 Aug, 2023 06:42am

Business & Finance

Rs70bn invested in telecom infrastructure & digital connectivity in last 3 years: Amin

KARACHI: Former federal minister for IT and Telecommunication, Syed Aminul Haq, has said that the ministry invested...

Published 22 Aug, 2023 06:39am

Money & Banking

Mashreq says will commence banking operations soon

KARACHI: Mashreq, one of the leading financial institutions in the MENA region, has announced the successful...

Published 22 Aug, 2023 06:37am

South Asia

India must end inhumane detention of activist: UN rights expert

GENEVA: A United Nations rights expert on Monday slammed India’s years-long detention of a rights activist with...

Published 22 Aug, 2023 06:35am

Pakistan

The Weather

KARACHI: The weather report on Monday (August 21, 2023) and the forecast for Tuesday (August 22, 2023)...