News Archives for Latest - 2023-09-01

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Archive - 2023-09-01

Stocks

KSE-100 snaps 5-session losing streak, gains 310 points

The benchmark index sees 5% week-on-week decline on rate hike fears, rupee’s depreciation

Updated 02 Sep, 2023 10:54am

Pakistan

Soldier martyred, terrorist killed in Tirah: ISPR

A Pakistan Army soldier embraced martyrdom in a fire exchange between security forces and terrorists in the general...

Published 01 Sep, 2023 11:15pm

World

Morocco begins probe after Algeria jet ski killings

RABAT: Morocco is investigating the death of a French-Moroccan after he and another Moroccan tourist on jet skis ...

Published 01 Sep, 2023 10:55pm

Europe

Belarus says Polish military helicopter breached airspace

MOSCOW: Belarus on Friday said a Polish aircraft had breached its airspace, the latest spat between the two...

Published 01 Sep, 2023 10:51pm

Energy

Saudi Aramco considers selling $50 billion in shares: WSJ

Saudi Aramco is considering selling a stake worth as much as $50 billion through a secondary share offering on the...

Published 01 Sep, 2023 09:59pm

Stocks

European shares log weekly gain; Novo Nordisk most valuable European company

European shares were flat on Friday as a decline in luxury firms and automakers offset gains in commodity-linked...

Published 01 Sep, 2023 09:57pm

Stocks

FTSE 100 rises on commodity boost, logs weekly gain

The blue-chip FTSE 100 index rose for a second consecutive week on Friday, driven by heavyweight oil and mining...

Published 01 Sep, 2023 09:54pm

Energy

Oil rises to highest in over 7 months on supply worries

NEW YORK: Oil prices rose on Friday to their highest in over half a year and were on track to snap a two-week losing...

Updated 01 Sep, 2023 09:27pm

Sports

Asia Cup 2023: Pakistan announce playing XI against India

Green Shirts to field an unchanged squad on Saturday

Published 01 Sep, 2023 08:19pm

Cricket

Learned a lot from India’s Kohli, says Pakistan skipper Babar Azam

KANDY: Pakistan skipper Babar Azam on Friday said a pep talk by India’s cricket superstar Virat Kohli at the start...

Published 01 Sep, 2023 08:10pm

Companies

Pak Suzuki, Agriauto announce shutdown as economic woes bite

Feeling the pinch of economic conditions, Pak Suzuki Motor Company (PSMC) and parts-maker Agriauto Industries...

Updated 01 Sep, 2023 08:08pm

Stocks

US stocks pop as jobs data spurs hope of ‘soft landing’

NEW YORK: Wall Street stocks surged in early trading Friday, after weaker jobs data raised hopes that the US Federal...

Published 01 Sep, 2023 08:03pm

Europe

Ukraine has made ‘notable progress’ in offensive: White House

WASHINGTON: Ukraine’s forces in recent days have made “notable progress” against Russian troops in their southern...

Published 01 Sep, 2023 07:58pm

Cricket

India captain Rohit plays down hype around Pakistan blockbuster

COLOMBO: India captain Rohit Sharma played down hype around Saturday’s Asia Cup blockbuster against Pakistan, saying...

Published 01 Sep, 2023 07:54pm

Forex

Dollar drops as unemployment rate rises, wage gains slow

NEW YORK: The dollar fell against the euro and Japanese yen on Friday after the US economy added more jobs than...

Published 01 Sep, 2023 07:50pm

Movies & Music

Bollywood actor Salman Khan announces ‘Being Human’ clothing store in Dubai

This is the brand's first store in the Middle East

Published 01 Sep, 2023 07:48pm

Forex

Inter-bank: rupee ends 10-session losing streak against US dollar after 0.02% gain

Currency settles at 305.47 in inter-bank market

Updated 01 Sep, 2023 07:40pm

Business & Economy

Pakistan’s headline inflation reading clocks in at 27.4% in August

This is the lowest inflation figure in calendar year 2023

Updated 01 Sep, 2023 07:36pm

Football

Lukaku gets Belgium call-up despite lack of playing time

Belgium’s record scorer Romelu Lukaku has been called up to their squad for this month’s European Championship...

Published 01 Sep, 2023 06:56pm

Pakistan

Islamabad Police rearrests PTI’s Parvez Elahi from Lahore

The party president has been rearrested hours afters Lahore High Court ordered NAB to release him

Updated 01 Sep, 2023 06:56pm

Money & Banking

India’s foreign exchange reserves remain largely flat

MUMBAI: India’s foreign exchange reserves remained largely unchanged at $594.86 billion as of Aug. 25, data from the...

Published 01 Sep, 2023 06:54pm

Pakistan

PTI’s Aon Abbas Buppi quits politics, denounces May 9 violence

Says Pakistan army and nation are 'inseparable'

Published 01 Sep, 2023 06:35pm

Movies & Music

‘I feel lighter’: Sarmad Khoosat’s ‘Zindagi Tamasha’ is getting rave reviews

Producer and director Sarmad Khoosat said he feels “lighter” following the independent release of ‘Zindagi Tamasha’...

Published 01 Sep, 2023 06:38pm

Currency

Rapid rupee decline brewing ‘a perfect storm’ for Pakistan: PBC

The Pakistan Business Council (PBC), one of the country’s largest corporate advocacy platforms, warned that the...

Updated 01 Sep, 2023 06:10pm

Football

Liverpool reject Al-Ittihad offer for Salah: reports

LONDON: Liverpool have rejected a blockbuster £150 million ($190 million) offer for Mohamed Salah from Saudi Arabian...

Published 01 Sep, 2023 06:09pm

Companies

Indian billionaire Ambani’s Reliance Retail in talks to raise $2.5bn: sources

NEW DELHI/SYDNEY: Indian billionaire Mukesh Ambani’s Reliance Retail Ventures is in advanced talks with global...

Published 01 Sep, 2023 05:56pm

Africa

Gabon opposition calls for pressure on junta to hand power to civilians

LIBREVILLE: Gabon’s main opposition group, Alternance 2023, urged the international community on Friday to encourage...

Published 01 Sep, 2023 05:46pm

Markets

India’s central bank says 93% of 2,000-rupee notes returned since May

MUMBAI: The Reserve Bank of India (RBI) on Friday said 93% of the country’s highest denomination 2,000-rupee...

Published 01 Sep, 2023 05:36pm

Pakistan

Delimitation process to be completed by Nov 30 instead of mid-Dec: ECP

Election watchdog shortens delimitation time frame, which was earlier December 14

Updated 01 Sep, 2023 05:31pm

Asia

Heat records topple across sweltering Asia

BANGKOK: Temperature records are being toppled across Asia, from India’s summer to Australia’s winter, authorities...

Published 01 Sep, 2023 05:21pm

Europe

Putin, Erdogan to meet Monday amid grain deal hopes

MOSCOW: Russian President Vladimir Putin will host his Turkish counterpart Recep Tayyip Erdogan on Monday, the...

Published 01 Sep, 2023 05:10pm

Europe

Ukraine says drone attack on Russian airport launched inside Russia

KYIV: Ukraine’s military intelligence said Friday that a recent drone attack on an airport in northwestern Russia...

Published 01 Sep, 2023 05:03pm

Football

Ronaldo named in Portugal squad for Euro 2024 qualifiers

LISBON: Cristiano Ronaldo was named in Portugal’s squad on Friday for upcoming Euro 2024 qualifiers against Slovakia...

Published 01 Sep, 2023 04:58pm

Movies & Music

Taylor Swift’s concert film headed to movie theaters

LOS ANGELES: After crushing records with her billion-dollar concert tour, pop superstar Taylor Swift is set to light...

Published 01 Sep, 2023 04:51pm

Stocks

Indian shares rise, snapping 5-week losing run, on healthy GDP data

BENGALURU: Indian shares advanced on Friday and closed higher for the week, snapping a five-week losing streak,...

Published 01 Sep, 2023 03:46pm

Sports

Manchester City sign Portugal midfielder Nunes from Wolves

Manchester City have signed Portugal midfielder Matheus Nunes from Wolverhampton Wanderers on a five-year contract,...

Published 01 Sep, 2023 03:31pm

Sports

Liverpool’s Konate, Thiago out for Villa match: Klopp

Liverpool’s Ibrahima Konate and Thiago will miss this weekend’s Premier League game at home to Aston Villa due to...

Published 01 Sep, 2023 03:26pm

Sports

Man Utd sign Turkey keeper Bayindir from Fenerbahce

LONDON: Manchester United signed Turkey goalkeeper Altay Bayindir from Fenerbahce on Friday in a deal worth a...

Published 01 Sep, 2023 03:03pm

Sports

Union Berlin sign Italy captain Bonucci from Juventus

BERLIN: Union Berlin have signed Italy captain Leonardo Bonucci from Juventus, the Bundesliga club announced on...

Published 01 Sep, 2023 02:58pm

Forex

Open-market: USD hits 331 against PKR

The US dollar climbed to new heights against the rupee in the open-market, and hit the 331 level during trading. On...

Updated 01 Sep, 2023 02:41pm

Interest Rates

SBP says emergency MPC meeting reports baseless

Central bank says premature to forecast future policy rate

Updated 01 Sep, 2023 02:25pm

Stocks

FTSE 100 opens higher on energy, miner boost; Direct Line drags midcaps

The blue-chip FTSE 100 index opened higher on Friday on a boost from heavyweight oil and miner stocks, while a drop...

Published 01 Sep, 2023 01:08pm

Forex

Japan finance minister offers no clues on intervention as yen weakens

TOKYO: Japanese Finance Minister Shunichi Suzuki said on Friday that currencies should be set by markets although...

Published 01 Sep, 2023 01:04pm

Stocks

Tokyo shares close higher ahead of US data

TOKYO: Tokyo shares closed higher for a fifth straight day on Friday, while investors awaited key US jobs data. The...

Updated 01 Sep, 2023 12:39pm

South Asia

IMF Managing Director has ‘productive’ talks with Chinese premier

BEIJING: IMF Managing Director Kristalina Georgieva said she had a “productive” discussion with Chinese Premier Li...

Updated 01 Sep, 2023 12:34pm

Financial

JGB yields fall to 2-week low in line with US peers

TOKYO: Japanese government bond yields fell to a two-week low on Friday, tracking overnight U.S. Treasury yields...

Published 01 Sep, 2023 12:27pm

Europe

Russian missile hits private enterprise in central Ukraine

KYIV: Russian forces struck a private enterprise with a long-range cruise missile overnight in the central Ukrainian...

Published 01 Sep, 2023 12:18pm

Stocks

Banks drag Australian shares lower; home prices rally weighs on rate-cut hopes

Australian shares ended lower on Friday dragged by losses in bank stocks, while persistent inflation worries after...

Updated 01 Sep, 2023 12:07pm

South Asia

Sri Lanka records lowest inflation since economic crisis

COLOMBO: Inflation in crisis-hit Sri Lanka eased to 4.0 percent in August, the lowest since before last year’s...

Published 01 Sep, 2023 12:01pm

Commodities

Palm rises slightly on El Nino worries, slow global demand

JAKARTA: Malaysian palm oil futures rose slightly higher on midday break Friday due to El Nino worries and slow...

Published 01 Sep, 2023 11:32am

Companies

Tesla launches new Model 3 in China with longer range

SHANGHAI: Tesla on Friday unveiled a restyled Model 3 with a longer driving range in China and other export markets...

Published 01 Sep, 2023 11:17am

Power sector woes: ‘Privatisation’ of Discos emerges as long-term solution

ISLAMABAD: The government had the only viable option to spread electricity bills of July in the next four to five...

Updated 01 Sep, 2023 11:09am

Commodities

Rubber: Japan futures hit near 6-mth high as China stimulus boosts demand outlook

TOKYO: Japanese rubber futures surged to a near 6-month high on Friday after Beijing issued further measures to...

Published 01 Sep, 2023 11:02am

Currency

Indian rupee to receive boost from yuan rally, growth data

MUMBAI: The Indian rupee is set to rise at open on Friday on the back of a rally in the Chinese yuan following steps...

Published 01 Sep, 2023 10:59am

Forex

China’s yuan rises to three-week high on FX reserve ratio cut

HONG KONG: China’s yuan firmed to a three-week high against the dollar on Friday, following the central bank’s...

Published 01 Sep, 2023 10:56am

Commodities

Wheat rises, heads for weekly loss on bumper Russian exports

CANBERRA: Chicago wheat prices rose on Friday but were still set to end the week lower as Russia, a major exporter,...

Published 01 Sep, 2023 10:53am

Financial

India bonds ignore growth data, focus remains on debt auction

MUMBAI: Indian government bond yields persisted with a flattish trend in the early session on Friday as traders...

Published 01 Sep, 2023 10:47am

Commodities

Iron ore bound for fourth weekly gain on China’s property sector moves

BEIJING: Iron ore futures were set for a fourth straight weekly gain on Friday, aided by China’s new measures to...

Published 01 Sep, 2023 10:44am

Europe

Ukrainian drones attack Russian town home to nuclear plant

Two Ukrainian drones attacked the Russian town of Kurchatov, home to a nuclear power plant in the Kursk region,...

Published 01 Sep, 2023 10:41am

South Asia

India Aug factory activity hits 3-month high, but hiring slows

BENGALURU: India’s factory growth accelerated at the fastest pace in three months in August, driven by strong growth...

Published 01 Sep, 2023 10:38am

Commodities

Gold muted as investors focus on US jobs data for Fed’s rate course

Gold prices looked set on Friday to wrap up their second straight week of gains, helped by diminished chances of...

Published 01 Sep, 2023 10:34am

Stocks

China stocks rise on housing sector measures; HK market closed due to typhoon

SHANGHAI: China shares rose on Friday, led by property stocks, as Beijing rolled out measures to support the housing...

Published 01 Sep, 2023 10:26am

Stocks

Metals lead rise in Indian shares ahead of US jobs data

BENGALURU: Indian shares rose on Friday, led by metal stocks on China’s measures to support its housing sector,...

Published 01 Sep, 2023 10:24am

Commodities

Copper prices climb as China stimulus lifts demand outlook

BEIJING: Copper prices started the month on a firmer note despite a strong U.S. dollar on Friday, supported by...

Published 01 Sep, 2023 10:20am

Commodities

Palm falls on weaker rival oils

JAKARTA: Malaysian palm oil futures slid on Friday, following a public holiday on Thursday, snapping two sessions of...

Published 01 Sep, 2023 10:18am

Forex

Dollar set for weekly loss as crucial US jobs data looms

TOKYO: The dollar was on course to snap a six-week winning streak against major peers on Friday, as it headed into a...

Published 01 Sep, 2023 10:16am

Piqued by political parties, PM says ‘there’s no crisis’

Says the economy was in shambles because non-productive sectors had been incentivised while they contributed nothing to the economy

Updated 01 Sep, 2023 10:01am

New version of ‘IRIS’: FBR asked to remove errors

ISLAMABAD: The Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to take corrective...

Updated 01 Sep, 2023 09:59am

Business & Finance

Capital market: Foreign investors’ buying in August stands at $12.870m

KARACHI: Despite heavy selling witnessed at Pakistan Stock Exchange, foreign investors emerged net buyers of shares...

Updated 01 Sep, 2023 09:58am

Shamshad highlights importance of reducing fiscal deficit

KARACHI: Federal Minister for Finance and Revenue, Dr Shamshad Akhtar, Thursday reiterated the government’s...

Updated 01 Sep, 2023 09:16am

Rising debt servicing emerges as hindrance: Projection of cut in C/A deficit subject to certain risks

ISLAMABAD: The government projection of a reduction in the current account deficit to US$ 3.7 billion is subject to...

Updated 01 Sep, 2023 09:11am

Business & Finance

July-August: Rs24bn surge in revenue collection

ISLAMABAD: The Federal Board of Revenue (FBR) has provisionally collected Rs 1,207 billion during the first two...

Updated 01 Sep, 2023 09:10am

Last six months: Sugar moguls pocketed Rs260bn in profit: PTI

ISLAMABAD: Lashing out at the former Pakistan Democratic Movement (PDM) government for opening the floodgate of...

Updated 01 Sep, 2023 09:09am

Challenges facing the textile sector come under govt-APTMA talks

ISLAMABAD: In a significant move to address the challenges faced by textile industry, a delegation from the All...

Updated 01 Sep, 2023 08:44am

Govt hikes price of petrol by Rs14.91, HSD’s by Rs18.44

ISLAMABAD: The interim government on Friday hiked once again the prices of petroleum products up to Rs 18.44 per...

Updated 01 Sep, 2023 08:43am

BR Research

Electricity bill to keep haunting

There is no good news. Electricity bills in August are perhaps breaking records for all kinds of consumers. It was...

Published 01 Sep, 2023 08:42am

Smuggling of sugar, urea: Finally, caretaker setup swings into action

ISLAMABAD: Caretaker Interior Minister Sarfraz Ahmad Bugti, on Thursday, directed the concerned department to make...

Updated 01 Sep, 2023 08:42am

BR’s refresher: your morning briefing for the day

Important updates from August 31, 2023

Published 01 Sep, 2023 08:42am

BR Research

POL – earnings up in FY23

The main concern for the E&P sector is the declining production of hydrocarbons amid depleting reserves and...

Published 01 Sep, 2023 08:41am

BR Research

Interview with Qawi Naseer - Country Managing Director of L’Oréal Pakistan

‘Beauty that moves the world’ Qawi Naseer is an Institute of Business Administration alumnus of 2008 and began his...

Published 01 Sep, 2023 08:37am

Cotton & Textile

Cotton market: Spot rate gains further Rs300 per maund

LAHORE: The Spot Rate Committee of the Karachi Cotton Association (KCA) on Thursday increased the spot rate by Rs ...

Updated 01 Sep, 2023 07:19am

Business & Finance

UBS to absorb Credit Suisse domestic unit, eyes 3,000 job cuts

ZURICH: Banking giant UBS said Thursday it plans to fully absorb Credit Suisse’s century-old Swiss division and...