News Archives for Latest - 2023-08-23

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Archive - 2023-08-23

World

Russian mercenary chief Yevgeny Prigozhin listed in plane crash with no survivors: authorities

MOSCOW: Russian mercenary chief Yevgeny Prigozhin was listed as a passenger on a private jet which crashed on...

Updated 23 Aug, 2023 11:38pm

Pakistan

President Alvi seeks meeting with ECP chief over elections date

In letter to Chief Election Commissioner, President cites Clause 5 of Article 48

Updated 23 Aug, 2023 10:26pm

Sports

World Cup 2023 warm-ups: Pakistan to play New Zealand on Sept 29

Green Shirts to face Australia on October 3

Published 23 Aug, 2023 09:57pm

Europe

Putin congratulates India on Moon landing after own probe crashed

MOSCOW: Russian President Vladimir Putin on Wednesday hailed an “impressive” achievement from India, which was the...

Published 23 Aug, 2023 09:34pm

Pakistan

Supreme Court says will wait for IHC order on PTI chief’s Toshakhana appeal

Bench heard arguments by PTI lawyer Latif Khosa and ECP counsel Amjad Pervaiz

Updated 23 Aug, 2023 09:31pm

Stocks

Stocks advance as traders await Powell speech, Nvidia results

LONDON: Stock markets rose Wednesday despite data showing slowing economic activity soothed worries about an...

Published 23 Aug, 2023 09:29pm

Pakistan

Kakar vows to fight against terrorists ‘no matter what’

Says surrender not an option

Updated 23 Aug, 2023 09:28pm

Markets

For $1bn, Qatar Investment Authority to take 1% stake in Ambani retail firm

BENGALURU: Qatar Investment Authority will invest $1 billion for a 1% stake in India’s Reliance Retail Ventures, the...

Updated 23 Aug, 2023 08:56pm

Currency

Open-market: US dollar hits 315 against rupee as gap with inter-bank rate continues to widen

The US dollar continued to hit new heights against a weakening Pakistani rupee, and reached the 315 level during...

Updated 23 Aug, 2023 08:20pm

USA

US SEC votes on overhaul for $20 trillion private fund industry

NEW YORK: The U.S. securities regulator on Wednesday was set to finalize a sweeping overhaul of private equity and...

Published 23 Aug, 2023 08:02pm

Stocks

KSE-100 closes flat after range-bound session

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index closed flat on Wednesday, after witnessing range-bound...

Published 23 Aug, 2023 07:50pm

Markets

Cumulative inflow under RDA hits $6.49bn: SBP

Total amount repatriated stands at $1.47bn, while net liability is now at $1.13bn

Updated 23 Aug, 2023 07:51pm

Forex

Inter-bank market: rupee settles at new low against US dollar

Currency depreciates 0.21% to close at 299.64 against US dollar in inter-bank

Updated 23 Aug, 2023 07:48pm

Stocks

US stocks rise as retailers report mixed results

NEW YORK: Wall Street stocks advanced early Wednesday, digesting mixed results from retailers ahead of a closely...

Published 23 Aug, 2023 07:30pm

South Asia

India Moon landing ‘historic day’: PM Modi

NEW DELHI: India on Wednesday became the first nation to land a craft near the Moon’s south pole, with Prime...

Published 23 Aug, 2023 07:15pm

Pakistan

Around 100,000 people evacuated due to floods in Pakistan

KASUR: Families waded through water and cattle were loaded onto boats in a mass evacuation of around 100,000 people...

Published 23 Aug, 2023 07:04pm

Pakistan

Terrorist killed in exchange of fire with security forces in South Waziristan: ISPR

Military's media wing says the killed terrorist remained actively involved in various militant activities in the area

Updated 23 Aug, 2023 06:53pm

Technology

One giant step: Moon race heats up

NEW DELHI: India became the first nation to successfully land a craft on the Moon’s south pole on Wednesday, the...

Published 23 Aug, 2023 06:43pm

Commodities

Gold prices decline Rs1,900 per tola in Pakistan

Price of 24-carat gold settles at Rs232,600 per tola in local market

Published 23 Aug, 2023 06:40pm

Energy

Kuwait’s economic recovery faces ‘substantial’ risks: IMF

DUBAI: Kuwait’s economic recovery is ongoing but risks to the oil producer’s outlook “remain substantial” and...

Updated 23 Aug, 2023 06:25pm

Movies & Music

Popular sitcom ‘Frasier’ all set for sequel series in October

Series will premier on Paramount+ on October 12

Published 23 Aug, 2023 06:21pm

Europe

Putin uses BRICS summit to justify Russia’s war in Ukraine

President Vladimir Putin used a speech to a summit of BRICS leaders on Wednesday to defend Russia’s war in Ukraine...

Published 23 Aug, 2023 06:00pm

South Asia

Chandrayaan-3 spacecraft lands on moon in ‘victory cry’ of new India

BENGALURU: An Indian spacecraft landed on the moon on Wednesday in a mission seen as crucial to lunar exploration...

Updated 23 Aug, 2023 05:59pm

USA

US 30-year mortgage rate soars to highest since 2000

The interest rate on the most popular U.S. home loan last week shot to the highest since December 2000, helping...

Published 23 Aug, 2023 05:56pm

Movies & Music

Fawad Khan, Sanam Saeed, Mahira Khan to star in Netflix’s first Pakistan-themed show

Series adapted from Farhat Ishtiaq’s bestselling Urdu-language novel

Published 23 Aug, 2023 05:42pm

Energy

Oil slides on grim manufacturing data

LONDON: Oil prices slid more than 1% on Wednesday as gloomy global manufacturing data grabbed attention ahead of an...

Updated 23 Aug, 2023 05:37pm

Stocks

Indian blue-chips rise on financials boost; small-, mid-caps hit fresh highs

BENGALURU: Indian shares closed higher on Wednesday led by a rebound in financial services stocks, with investors...

Published 23 Aug, 2023 05:34pm

Stocks

Sri Lanka shares end higher ahead of central bank’s monetary policy decision

BENGALURU: Sri Lankan shares closed higher on Wednesday, ahead of the central bank’s monetary policy decision this...

Published 23 Aug, 2023 05:32pm

Commodities

Copper rises with improved Chinese demand prospects

LONDON: Prices for copper and most other base metals rose in London on Wednesday as demand prospects from the top...

Published 23 Aug, 2023 05:29pm

Stocks

Markets broadly higher as traders await Powell speech, Nvidia results

LONDON: Stock markets mostly rose Wednesday as traders battled to maintain momentum in this week’s rally despite...

Updated 23 Aug, 2023 05:23pm

Europe

Germany agrees to ease citizenship rules

BERLIN: The German cabinet on Wednesday approved plans to shorten the path to citizenship for immigrants and allow...

Published 23 Aug, 2023 05:20pm

Europe

BRICS leaders to debate expanding membership at summit

JOHANNESBURG: BRICS leaders on Wednesday will debate admitting new members to their five-nation bloc as it pursues a...

Published 23 Aug, 2023 05:14pm

Commodities

Russia destroyed 270,000 tonnes of grain in month: Kyiv

KYIV: Ukraine said Wednesday that Russian strikes on its sea and river ports had destroyed 270,000 tonnes of grain...

Published 23 Aug, 2023 05:09pm

Markets

PSO’s profit plunges 90% in FY2022-23

Pakistan State Oil Company Limited’s (PSO) profit-after-tax (PAT) plunged nearly 90%, clocking in at Rs9.82 billion...

Updated 23 Aug, 2023 05:08pm

Commodities

Palm sinks to 1-week low on weaker rival oils, rising supply

SINGAPORE: Malaysian palm oil futures fell to a one-week trough on Wednesday, dragged down by softer rival oils and...

Published 23 Aug, 2023 04:40pm

Sports

Reuters issues advisory, withdraws story on Zimbabwe captain Heath Streak

In a bizarre turn of events, Reuters – a reputed international news agency owned by Thomson Reuters Corporation –...

Updated 23 Aug, 2023 04:11pm

Money & Banking

MCB Live integrates MCB Funds for accessible savings and investments

LAHORE: MCB Funds, a leading asset management and investment company, has established a strategic alliance with MCB...

Updated 23 Aug, 2023 04:02pm

Perspectives

Elections are not irrelevant, but public’s indifference suggests otherwise

In a country like Pakistan, where political disillusionment is prevalent among the masses, it is not uncommon to...

Published 23 Aug, 2023 03:57pm

Stocks

Major Gulf markets mixed ahead of Jackson Hole meet

Major stock markets in the Gulf were mixed in early trade on Wednesday ahead of an annual meeting of central...

Published 23 Aug, 2023 02:48pm

Sports

US were not fully prepared heading into Women’s World Cup, says Horan

The US women’s soccer team was not fully prepared heading into the World Cup, co-captain Lindsey Horan said, after...

Published 23 Aug, 2023 02:45pm

South Asia

At least 26 killed as railway bridge collapses in India

GUWAHATI: A railway bridge being built in India collapsed on Wednesday killing at least 26 workers and injuring two,...

Updated 23 Aug, 2023 02:42pm

Movies & Music

Hollywood studios release details of new proposal to striking writers

Hollywood studios and streaming services on Tuesday released the terms of a revised proposal to writers in a bid to...

Published 23 Aug, 2023 02:32pm

Movies & Music

The ‘GMOAT’: Serena Williams gives birth to second child

MIAMI: Serena Williams has given birth to her second daughter, her husband announced Tuesday, adding that both were...

Published 23 Aug, 2023 01:24pm

Energy

Goldman says oil stock draws cut bearish risk to Brent price

Goldman Sachs sees less of a downside risk to oil prices from higher-than-expected inventories, noting that lower...

Published 23 Aug, 2023 12:31pm

Forex

Kenyan shilling eases due to increased energy sector dollar demand

NAIROBI: Kenya’s shilling weakened on Wednesday, hurt by increased importer demand for dollars, especially from the...

Published 23 Aug, 2023 12:20pm

Europe

Moscow airports operating normally after drone-related suspension

MOSCOW: Moscow’s airports are operating normally after a temporary flight suspension was imposed in the early hours...

Published 23 Aug, 2023 12:18pm

Stocks

Tokyo shares close higher

TOKYO: Tokyo shares shrugged off earlier losses to close higher for the third straight day on Wednesday after US...

Updated 23 Aug, 2023 12:11pm

Sports

Italian Tamberi wins thrilling world championship high jump final

BUDAPEST: Italy’s Olympic champion and showman Gianmarco Tamberi captured the world high jump title on Tuesday, in a...

Published 23 Aug, 2023 12:08pm

Financial

UK’s Ofgem fines Morgan Stanley & Co Int’l $6.88mn

Britain’s energy regulator Ofgem said on Wednesday it had levied a 5.4 million pound ($6.88 million) fine on Morgan...

Published 23 Aug, 2023 12:04pm

Commodities

Palm falls further on weaker rival oils, rising supply

SINGAPORE: Malaysian palm oil futures fell further on Wednesday, dragged down by softer rival oils and increased...

Published 23 Aug, 2023 11:58am

Commodities

Uganda’s July coffee earnings, export volumes up in July

KAMPALA: Uganda’s July coffee export earnings shot up 26% year-on-year, helped by a 12% rise in volumes shipped...

Published 23 Aug, 2023 11:56am

Europe

Ukraine says air defences shot down 11 of 20 drones launched by Russia overnight

KYIV: Ukrainian air defences shot down 11 out of 20 drones launched by Russia in overnight attacks, the air force...

Published 23 Aug, 2023 11:49am

Forex

South African rand extends gains ahead of inflation data

JOHANNESBURG: The South African rand extended gains in early trade on Wednesday, ahead of inflation data that could...

Published 23 Aug, 2023 11:47am

Technology

China’s Xiaomi wins state planner nod to make EVs amid glut in autos

HONG KONG: Xiaomi Corp has won the approval of China’s state planner to manufacture electric vehicles (EVs), said...

Published 23 Aug, 2023 11:44am

Stocks

Hong Kong stocks resume losses at open

HONG KONG: Hong Kong stocks resumed their losses Wednesday after a much-needed bounce the day before, with ongoing...

Published 23 Aug, 2023 11:34am

USA

At least 1,100 missing after Hawaii fires

LOS ANGELES: At least 1,100 people are still missing two weeks after deadly wildfires ravaged the Hawaiian island of...

Published 23 Aug, 2023 11:26am

USA

Trump to be booked at infamous Atlanta jail

ATLANTA: Unsafe. Unsanitary. Teeming with insects. When Donald Trump surrenders on Thursday to face charges he tried...

Published 23 Aug, 2023 11:24am

Sports

Former England wicketkeeper Foster joins New Zealand’s World Cup staff

Former England wicketkeeper James Foster has been appointed as an assistant coach on New Zealand’s World Cup staff,...

Published 23 Aug, 2023 11:19am

Commodities

Soybeans extend losses as early crop tour report shows higher yields

SINGAPORE: Chicago soybean futures lost more ground on Wednesday as early promising results from a US crop tour...

Published 23 Aug, 2023 11:05am

Bullion Rate

Gold stabilises at $1,900 level as investors await rate cues

Gold gained on Wednesday, as a slight pullback in US dollar and Treasury yields helped bullion stabilise near a key...

Published 23 Aug, 2023 10:50am

Mutual Funds

India bond yields dip as strong upside resistance triggers buying

MUMBAI: Indian government bond yields were lower in early session on Wednesday as traders added positions after...

Published 23 Aug, 2023 10:47am

Financial

India’s Jio Financial hits circuit breaker for third day; MSCI addition in focus

BENGALURU: India’s Jio Financial Services (JFS) fell 5% on Wednesday, triggering a circuit breaker for the third...

Published 23 Aug, 2023 10:45am

Real Estate

China should stick to ‘houses are for living, not for speculation’

BEIJING: China should adhere to the principle that “houses are for living in, not for speculation” for the time...

Published 23 Aug, 2023 10:42am

BR Research

FDI – a weak link

In a country with high political, economic and financial volatility, little can be expected on the foreign...

Updated 23 Aug, 2023 10:42am

Europe

Russia attacks grain facilities in Ukraine’s Danube region

KYIV: Russia overnight attacked with drones the south of Ukraine’s southern Odesa and the Danube River regions, a...

Published 23 Aug, 2023 10:37am

Mutual Funds

JGB 10-year yield hits 9-1/2-year peak as BOJ intervention absent

TOKYO: The benchmark 10-year Japanese government bond yield hit a 9-1/2-year peak on Wednesday, after the Bank of...

Published 23 Aug, 2023 10:34am

Commodities

South Korea’s NOFI tenders to buy 138,000 T corn

HAMBURG: Leading South Korean feedmaker Nonghyup Feed Inc. (NOFI) has issued an international tender to purchase up...

Published 23 Aug, 2023 10:32am

BR Research

Crisis of confidence

The currency touched its lowest value yesterday. PKR/USD closed at 299 and is all set to cross the psychological...

Updated 23 Aug, 2023 10:30am

Technology

Huawei is building secret network for chips, trade group warns

Huawei Technologies Co is building a collection of secret semiconductor-fabrication facilities across China to let...

Published 23 Aug, 2023 10:29am

Forex

Indian rupee recovery to stall on dollar strength before Jackson Hole meeting

MUMBAI: The Indian rupee is likely to decline on Wednesday, weighed down by the rise in the US dollar ahead of the...

Published 23 Aug, 2023 10:26am

World

Sixteen people die after bus crashes with trailer in central Mexico

MEXICO CITY: Fifteen Mexicans and one Venezuelan died in a road accident in central Mexico early on Tuesday,...

Published 23 Aug, 2023 10:22am

Middle East

Suez Canal ship traffic unaffected after tanker collision

CAIRO: Shipping traffic was flowing normally on Egypt’s Suez Canal on Wednesday, two shipping sources based in the...

Published 23 Aug, 2023 10:18am

Inflows improved in July: IMF SBA gives comfort level to multilaterals, bilaterals: MEA officials

ISLAMABAD: The staff level agreement on the Stand-By Arrangement (SBA) with the International Monetary Fund (IMF)...

Updated 23 Aug, 2023 10:17am

Gohar floats the idea of establishing ‘business parks’

Federal Minister for Commerce and Industries Dr Gohar Ejaz says park would prove vital in the economic development of the country

Updated 23 Aug, 2023 10:15am

Asia

Thailand’s jailed ex-PM Thaksin hospitalised after return from exile

BANGKOK: Thailand’s jailed former Prime Minister Thaksin Shinawatra was moved to a hospital overnight after...

Published 23 Aug, 2023 10:14am

Real Estate

Unpaid workers, silent sites: China’s property woes hit Country Garden

TIANJIN: At an unfinished Country Garden residential complex on the outskirts of the northern Chinese metropolis of...

Published 23 Aug, 2023 10:11am

Stocks

Asian shares sit tight ahead of Nvidia results, yields near highs

SYDNEY: Asian shares held tight ranges on Wednesday as investors awaited results from tech darling Nvidia to see if...

Published 23 Aug, 2023 10:06am

Stocks

Australian shares rise on gold, mining boost

Australian shares rose on Wednesday as gains in gold and mining stocks outweighed losses in energy and technology...

Published 23 Aug, 2023 09:58am

Stocks

Indian shares open higher ahead of RBI minutes, central bankers’ meet

BENGALURU: Indian shares opened marginally higher on Wednesday amid muted global market moves, with traders awaiting...

Published 23 Aug, 2023 09:52am

Paper importers level allegations against shipping cos, Customs

KARACHI: Shipping companies are cruelly on a looting spree and the Model Customs Collectorate (Preventive), the...

Updated 23 Aug, 2023 09:45am

Abhi’s valuation grew to $90m in two years

KARACHI: Pakistan’s financial startup Abhi’s valuation grew to $90 million during the last two years and became one...

Updated 23 Aug, 2023 09:45am

Power generation, distribution to provinces: Senate panel seeks briefing from PD

ISLAMABAD: A meeting of the Senate Standing Committee on Power has decided to take a detailed briefing on the...

Updated 23 Aug, 2023 09:43am

Pakistan

Digital census: PPP, MQM-P say concerned about ‘under-reporting’ of Sindh population

ISLAMABAD: Pakistan Peoples Party (PPP) and the Muttahida Qaumi Movement-Pakistan (MQM-P) have expressed serious...

Updated 23 Aug, 2023 09:42am

Forex

Australian dollar gets commodity lift, NZ bonds left struggling

SYDNEY: The Australian and New Zealand dollars enjoyed a rare rally on Wednesday as commodity prices showed some...

Published 23 Aug, 2023 09:39am

Forex

Dollar hovers near two-month high, yen near 146/dollar

SINGAPORE: The US dollar perched near a two-month peak on Wednesday as investors looked to the Federal Reserve...

Published 23 Aug, 2023 09:36am

Forex

China’s yuan inches higher, traders wary ahead of Jackson Hole

HONG KONG: China’s yuan inched higher against the dollar on Wednesday after the central bank set the daily fixing...

Published 23 Aug, 2023 09:31am

Cable car ordeal ends with all on board, mostly children, rescued

PESHAWAR/ISLAMABAD: Rescuers pulled seven children and one man to safety after their cable car became stranded high...

Updated 23 Aug, 2023 09:17am

Official Secrets (Amendment) Bill, Pakistan Army (Amendment) Bill: SC urged to suspend operation of two ‘laws’

ISLAMABAD: The Supreme Court was urged to suspend the operation of the Official Secrets (Amendment) Bill, 2023, and...

Updated 23 Aug, 2023 09:15am

Tax amnesty scheme beneficiaries: PIC summons FBR chief for not providing information

ISLAMABAD: The Pakistan Information Commission (PIC) has summoned the Federal Board of Revenue (FBR) chairman for...

Updated 23 Aug, 2023 08:44am

Pakistan

Sutlej River attains very high water level: Over 0.25m people evacuated, shifted to safe places

ISLAMABAD: The government has evacuated some 256,610 persons and shifted to safer places owing to the rise in water...

Updated 23 Aug, 2023 08:42am

PM pledges ‘most transparent’ elections

KARACHI: Caretaker Prime Minister Anwaar-ul-Haq Kakar on Tuesday reiterated that the interim government would ensure...

Updated 23 Aug, 2023 08:42am

BR’s refresher: your morning briefing for the day

Important updates from August 22, 2023

Published 23 Aug, 2023 08:40am

BR Research

Highnoon Laboratories Limited

Highnoon Laboratories Limited (PSX: HINOON) was incorporated in Pakistan as a private limited company in 1984 and...

Published 23 Aug, 2023 08:33am

Opinion

India’s rice export ban: opportunities for Pakistan

The world’s top rice exporter, India, banned the export of non-basmati white rice to control their rising domestic...

Updated 23 Aug, 2023 06:54am

Editorials

Another new low

EDITORIAL: Just when you feel that politicians and institutions running this country have had their fill of...

Updated 23 Aug, 2023 06:44am

Editorials

The grimness of macroeconomic data

EDITORIAL: Macroeconomic data recently released by the Pakistan Bureau of Statistics (PBS) merits immediate ...

Updated 23 Aug, 2023 06:40am

Pakistan

ECP restrained from taking final decision against IK

LAHORE: Justice Muhammad Waheed Khan of the Lahore High Court on Tuesday restrained the Election Commission of...

Published 23 Aug, 2023 06:34am

Pakistan

Land acquisition completed for Dasu Dam: WAPDA chief

LAHORE: Chairman WAPDA Engr Lt Gen Sajjad Ghani (retd) has said that the pace of construction work will be further...

Published 23 Aug, 2023 06:32am

Pakistan

Imaan Mazari granted bail, Ali Wazir sent to jail

ISLAMABAD: A local court on Tuesday granted bail to human rights lawyer Imaan Zainab Mazari and sent former...

Published 23 Aug, 2023 06:30am

Pakistan

Ex-PPP ministers, party chairman take stock of situation

KARACHI: Chairman Pakistan Peoples Party (PPP) Bilawal Bhutto Zardari had a busy day at Bilawal House today...