News Archives for Latest - 2023-09-07

Energy

Pakistan Gasport seeks country’s first spot LNG cargo in over a year

SINGAPORE: Pakistan Gasport is looking to buy a spot liquefied natural gas (LNG) cargo for November delivery, its...

Updated 08 Sep, 2023 02:11am

Markets

No ban on Rs5,000 currency note: caretaker information minister says letter being circulated is fake

Caretaker Information Minister Murtaza Solangi rejected as fake a letter circulating on Thursday, which stated that...

Updated 08 Sep, 2023 12:00am

World

US military repositioning some troops within Niger, withdrawing non-essential personnel

WASHINGTON: The Pentagon is repositioning some troops and equipment within Niger and will withdraw a small number of...

Published 07 Sep, 2023 11:55pm

World

Russia' Lavrov assures Bangladesh to complete nuclear power plant on time

DHAKA: Russian Foreign Minister Sergei Lavrov on Thursday assured Bangladesh that Moscow was committed to complete a...

Published 07 Sep, 2023 11:13pm

Pakistan

Army to assist govt in curbing illegal activities hampering economic growth: ISPR

Military’s top brass reiterates to continue support of ongoing efforts in uplifting socioeconomic growth under umbrella of SIFC

Published 07 Sep, 2023 09:53pm

Stocks

Stocks struggle on rate fears

LONDON: Stock markets wavered on Thursday, weighed down by concerns about China’s economy and fears of more US...

Published 07 Sep, 2023 09:09pm

South Asia

Pakistan High Commissioner to Bangladesh pays farewell visit to PM Sheikh Hasina

PM Hasina congratulates Ambassador Imran Ahmed Siddiqui on a successful tenure

Updated 07 Sep, 2023 09:03pm

Pakistan

Pakistan, US discuss strengthening economic, trade ties

Pakistan and the United States (US) on Thursday discussed strengthening economic and trade relations, fostering...

Published 07 Sep, 2023 08:22pm

Middle East

Ahead of COP28, EU chief visits oil-rich UAE

ABU DHABI: EU chief Ursula von der Leyen visited the United Arab Emirates Thursday, three months before it hosts UN...

Published 07 Sep, 2023 08:08pm

Forex

Open market: Pakistani rupee maintains upward trajectory against US dollar

The Pakistani rupee maintained its upward trajectory against the US dollar in the open market on Thursday as gap...

Updated 07 Sep, 2023 07:56pm

Forex

SBP-held foreign exchange reserves drop by $70mn, now stand at $7.78bn

Debt repayments and lack of fresh inflows put pressure on dollar stockpile

Updated 07 Sep, 2023 07:53pm

Stocks

KSE-100 edges down in range-bound trading

The Pakistan Stock Exchange (PSX) witnessed a range-bound session on Thursday, as its benchmark KSE-100 Index closed...

Published 07 Sep, 2023 07:37pm

Energy

Oil falls as concerns about China outweigh extended cuts

LONDON: Oil prices eased on Thursday as an uncertain economic outlook for China outweighed expectations of tighter...

Updated 07 Sep, 2023 07:36pm

Stocks

Gulf bourses end mixed; Saudi posts biggest weekly loss in a month

Stock markets in the Gulf ended mixed on Thursday on worries that stubborn U.S. inflation could keep interest rates...

Published 07 Sep, 2023 07:33pm

Stocks

S&P, Nasdaq fall as Apple drags, jobless claims data fuels rate jitters

The S&P 500 and Nasdaq fell on Thursday with Apple leading declines in megacap growth stocks on concerns over...

Published 07 Sep, 2023 07:29pm

South Asia

South Korea’s Yoon urges China to do more to address North Korea threat

SEOUL: South Korean President Yoon Suk Yeol asked Chinese Premier Li Qiang on Thursday if Beijing could do more as a...

Published 07 Sep, 2023 07:24pm

Pakistan

Digital Silk Road to promote e-commerce between Pakistan and China

Belt and Road countries now have a wealth of economic opportunities and newfound optimism thanks to China's burgeoning digital trade, CEO of the Chinese sci-tech company Samoyed Cloud Technology says

Published 07 Sep, 2023 07:18pm

Europe

Turkish flood death toll rises to eight

ISTANBUL: Rescuers on Thursday recovered the body of the last man reported missing in floods that hit Istanbul and...

Published 07 Sep, 2023 07:00pm

Europe

Putin orders state support for AI as race heats up

MOSCOW: Russian President Vladimir Putin has ordered his government to fund research into artificial intelligence as...

Published 07 Sep, 2023 06:56pm

Forex

Inter-bank market: rupee gains further, settles at 304.94 against US dollar

Currency appreciates 0.67% in inter-bank market

Updated 07 Sep, 2023 06:32pm

Bullion Rate

Gold rates in Pakistan drop further by Rs5,800 per tola

The price of 24-carat bar settles at Rs216,500 per tola

Updated 07 Sep, 2023 06:20pm

Europe

Blinken hails Ukrainian’s ‘extraordinary resilience’

KYIV: US Secretary of State Antony Blinken on Thursday praised Ukraine’s strength in the face of the Russian...

Published 07 Sep, 2023 06:08pm

Technology

Google faces £7bn claim on behalf of UK consumers

LONDON: Google is facing a new lawsuit in Britain, which accuses the US tech giant of stifling competition in the...

Published 07 Sep, 2023 06:06pm

Cricket

Pakistan’s pace attack reminds Shoaib Akhtar of ‘old days’

COLOMBO: Former Pakistan speedster Shoaib Akhtar on Thursday said the team’s current pace attack reminds him of the...

Updated 07 Sep, 2023 05:53pm

Money & Banking

Turkish central bank’s net international reserves rise to $16.15bn

ISTANBUL: The Turkish central bank’s net international reserves rose some $430 million to $16.15 billion in the week...

Published 07 Sep, 2023 05:26pm

Europe

NATO has no indication of intentional Russian attack on Romania

BRUSSELS: NATO has no indication that drone debris found on Romanian territory was caused by a deliberate Russian...

Published 07 Sep, 2023 05:18pm

Pakistan

Caretaker PM Kakar reaffirms Pakistan’s resolve to eradicate terrorism

Statement comes after Pakistani military repelled a terrorist attack on two border posts in the Chitral district of KPK

Updated 07 Sep, 2023 05:17pm

Europe

Putin not planning video address to G20: Kremlin

MOSCOW: Russian President Vladimir Putin is not planning to make a video address at the upcoming G20 summit in New...

Published 07 Sep, 2023 05:16pm

Stocks

Indian shares end at one-month high; small, mid-cap extend winning streak

BENGALURU: Indian shares closed on Thursday at a more than one-month high, led by gains in banks and power stocks,...

Published 07 Sep, 2023 05:13pm

Stocks

Sri Lankan shares little changed

BENGALURU: Sri Lankan shares ended almost flat on Thursday after a decline in LOLC Finance and John Keells offset...

Published 07 Sep, 2023 05:10pm

Commodities

Copper hits two-week low on inventory surge, weak China imports

LONDON: Copper prices fell to their lowest level in more than two weeks on Thursday after a sharp rise in...

Published 07 Sep, 2023 05:08pm

Commodities

Palm closes lower ahead of August supply-demand data

JAKARTA: Malaysian palm oil futures closed down for a fourth consecutive session on Thursday ahead of August...

Published 07 Sep, 2023 05:06pm

Interest Rates

Brokerage house sees interest-rate hike of 150bps as inflation bites

Arif Habib Limited says SBP might consider increasing interest rates as a precautionary measure to address persistently high levels of inflation

Updated 07 Sep, 2023 03:50pm

Business & Finance

Interloop’s profit surges to Rs20.17bn in FY23

EPS clocks in at Rs14.39 during 12-month period

Published 07 Sep, 2023 03:48pm

Pakistan

Main Pakistan-Afghan border crossing closed for second day

PESHAWAR: Pakistan’s main border crossing with Afghanistan was closed for a second day on Thursday, leading to a...

Updated 07 Sep, 2023 03:36pm

Movies & Music

Bruce Springsteen postpones US concerts due to illness

WASHINGTON: Legendary American rock singer Bruce Springsteen on Wednesday announced he was postponing his September...

Published 07 Sep, 2023 03:33pm

Pakistan

IHC indicts Islamabad DC for contempt of court over arrest of PTI’s Shehryar Afridi

The Islamabad High Court (IHC) indicted on Thursday Islamabad Deputy Commissioner (DC) Irfan Nawaz Memon for...

Updated 07 Sep, 2023 03:33pm

Forex

Onshore yuan hits 2007 dollar low on China slowdown fears

LONDON: China’s onshore yuan, whose trade is regulated by Beijing, sank Thursday to the lowest dollar level since...

Published 07 Sep, 2023 03:15pm

South Asia

India’s Modi calls for climate finance ahead of G20 meet

NEW DELHI: Indian Prime Minister Narendra Modi said Thursday that leaders of the G20 summit he is chairing this...

Published 07 Sep, 2023 03:13pm

Mutual Funds

Indian bond yields drop as RBI seeks feedback on euroclear settlement

MUMBAI: Indian government bond yields dropped, after opening flattish on Thursday, on reports that the Reserve Bank...

Published 07 Sep, 2023 03:08pm

Forex

Indian rupee warily eyes US yields, oil prices; banks on RBI help

MUMBAI: The Indian rupee is expected to open little changed to the US dollar on Thursday with rising US Treasury...

Published 07 Sep, 2023 03:05pm

Stocks

FTSE 100 falls on worries about US rates; Melrose jumps

UK’s FTSE 100 opened lower on Thursday after stronger-than-expected US economic data rekindled concerns that...

Published 07 Sep, 2023 02:04pm

Asia

China says 90 countries have confirmed attendance for Belt and Road Initiative

BEIJING: China said on Thursday that 90 countries have confirmed attendance for its Belt and Road Initiative...

Published 07 Sep, 2023 01:42pm

Stocks

European stocks fall for seventh day as global mood sours

European shares fell for a seventh consecutive session on Thursday, on track for their longest losing streak in more...

Published 07 Sep, 2023 01:48pm

Financial

IMF and regulators set out roadmap to contain crypto risks

LONDON: Global financial regulators and the International Monetary Fund on Thursday set out a roadmap to coordinate...

Published 07 Sep, 2023 01:37pm

Commodities

Copper hits lowest in a week on firm dollar, awaits more China stimulus

Copper prices fell to their lowest in more than a week as a strong dollar made metals expensive to buyers using...

Published 07 Sep, 2023 01:32pm

Forex

Russian rouble slips again vs dollar in early trade

The Russian rouble slipped further against the dollar on Thursday, touching new three-week lows after a brief...

Published 07 Sep, 2023 01:30pm

Middle East

Kuwait’s crown prince to visit China later this month

KUWAIT: Kuwait’s Crown Prince Sheikh Meshal al-Ahmad al-Sabah will visit China later this month, the state news...

Published 07 Sep, 2023 01:28pm

Stocks

Hong Kong stocks drop at start of trading

HONG KONG: Hong Kong opened lower Thursday as forecast-beating US data added to recent worries that the Federal...

Published 07 Sep, 2023 01:03pm

Sports

Unbreakable Keys stuns Vondrousova to reach US Open semis

NEW YORK: Madison Keys of the United States stunned Wimbledon champion Marketa Vondrousova to reach the semi-finals...

Published 07 Sep, 2023 01:01pm

Sports

Alcaraz powers through as US Open rivals feel the heat

NEW YORK: Carlos Alcaraz powered into the semi-finals of the US Open on Wednesday as rival Daniil Medvedev battled...

Published 07 Sep, 2023 12:56pm

Technology

Tencent claims new AI chat bot skills comparable to ChatGPT

SHANGHAI: Chinese tech giant Tencent on Thursday claimed its new chatbot had some capabilities on par with top US...

Published 07 Sep, 2023 12:52pm

Africa

Sudan army chief visits Qatar on third trip since war began

PORT SUDAN: Sudanese army chief Abdel Fattah al-Burhan travelled Thursday to Doha for talks with Qatar’s emir,...

Published 07 Sep, 2023 12:49pm

Europe

UK to rejoin Europe’s Horizon science programme

LONDON: Britain is to rejoin the Horizon Europe science research programme under a new bespoke deal, Prime Minister...

Published 07 Sep, 2023 12:47pm

Movies & Music

Rolling Stones launch new album ‘Hackney Diamonds’

LONDON: The Rolling Stones announced ‘Hackney Diamonds’, their first album of original music for 18 years and first...

Published 07 Sep, 2023 12:45pm

Stocks

Tokyo shares drop on Wall St falls, profit-taking

TOKYO: Tokyo stocks fell on Thursday following losses on Wall Street and profit-taking after recent gains. The...

Updated 07 Sep, 2023 12:43pm

Asia

China’s premier says ready to resume exchanges with Australia: state media

BEIJING: China’s Premier Li Qiang told Australian Prime Minister Anthony Albanese on Thursday that Beijing was ready...

Published 07 Sep, 2023 12:42pm

Europe

Russian attack kills 17 in east Ukraine as Blinken visits Kyiv, officials say

KYIV: At least 17 people were killed and 32 wounded in a Russian attack on a crowded market in the eastern Ukrainian...

Published 07 Sep, 2023 12:22pm

Business & Finance

Saudi Arabia’s economy grows 1.2% in Q2

DUBAI: Saudi Arabia’s economy grew 1.2% in the second quarter, year-on-year, government data showed on Thursday,...

Published 07 Sep, 2023 12:16pm

South Asia

G20 agrees membership for African Union on par with EU

The G20 grouping of nations has agreed to grant permanent membership to the African Union, Bloomberg News said on...

Published 07 Sep, 2023 12:11pm

Asia

World leaders talk trade, security in ASEAN-led summit

JAKARTA: World leaders were on Thursday set for a series of meetings on security and trade against a backdrop of...

Published 07 Sep, 2023 11:01am

Sports

Sabalenka eases past Zheng into US Open semis

NEW YORK: Second seed Aryna Sabalenka crushed Zheng Qinwen 6-1 6-4 on Wednesday to reach her fifth straight Grand...

Published 07 Sep, 2023 10:55am

Financial

BOJ policymaker calls for keeping ultra-easy policy for now

KOCHI: Bank of Japan policymaker Junko Nakagawa said on Thursday the central bank must maintain ultra-loose monetary...

Published 07 Sep, 2023 10:52am

Asia

South China soaks as rains from Haikui continue to pound region

BEIJING: The remnants of Typhoon Haikui drenched China for a third day since making landfall, as moisture-laden...

Published 07 Sep, 2023 10:50am

USA

US to cancel Alaska oil, gas leases issued under Trump

The US Interior Department on Wednesday said it would cancel oil and gas leases in a federal wildlife refuge that...

Published 07 Sep, 2023 10:46am

Asia

Japan launches ‘moon sniper’ lunar lander SLIM into space

TOKYO: Japan launched its lunar exploration spacecraft on Thursday aboard a homegrown H-IIA rocket, hoping to become...

Published 07 Sep, 2023 10:12am

Stocks

Indian shares subdued on weak global cues

BENGALURU: Indian shares inched lower in early trade on Thursday on subdued risk sentiment on the back of weak...

Published 07 Sep, 2023 09:56am

PM lays focus on tax reforms, sell-off process

Says increasing tax collection is the foremost priority of the government

Updated 07 Sep, 2023 09:51am

Stocks

Australia shares decline on Fed rate jitters; miners biggest laggards

Australian shares declined for a third straight session on Thursday, as better-than-expected US economic data...

Published 07 Sep, 2023 09:51am

Govt mulls IPO for three major power distribution companies

KARACHI: Pakistan is considering selling stakes in three high performing state-owned power distribution companies...

Updated 07 Sep, 2023 09:50am

Forex

Dollar shines as US economy outperforms, yen plumbs 10-month low

SINGAPORE: A buoyant dollar pushed the yen to a 10-month trough on Thursday and kept the euro and sterling pinned...

Published 07 Sep, 2023 09:47am

Commodities

China’s Aug iron ore imports jump ahead of peak construction season

BEIJING: China’s imports of iron ore in August climbed 13.8% from July, customs data showed on Thursday, fuelled by...

Published 07 Sep, 2023 09:38am

Europe

Port, grain silo damaged by drone strikes on Odesa region

Russian drone strikes have damaged port infrastructure, a grain silo and administrative buildings in the Izmail...

Published 07 Sep, 2023 09:34am

Pakistan

Border gunfight shuts crossing between Afghanistan and Pakistan

PESHAWAR: A gun battle erupted Wednesday between Pakistan and Afghan border forces, officials said, that shut their...

Updated 07 Sep, 2023 09:34am

ECP says 3,600 data entry operators to be assigned to ROs

ISLAMABAD: General elections may likely see an inordinate delay following the apparent failure of the Election...

Updated 07 Sep, 2023 09:33am

Economic update for August: Upward adjustment in energy tariffs, fuel price hike to strain inflationary pressures: MoF

ISLAMABAD: The Finance Ministry Wednesday said the upward adjustment in energy tariffs and further increase in fuel...

Updated 07 Sep, 2023 09:33am

Energy

China’s August crude oil imports jump 30.9% from a year ago

BEIJING: China’s crude oil imports in August surged by 30.9% from a year earlier, customs data showed on Thursday,...

Published 07 Sep, 2023 09:30am

Kakar gives go-ahead to plan aimed at bringing PayPal, Starlink to Pakistan

ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar on Wednesday approved the Ministry of Information Technology...

Updated 07 Sep, 2023 09:19am

Govt to tighten the noose around power thieves

ISLAMABAD: The federal government has decided to launch crackdown across the country against electricity theft,...

Updated 07 Sep, 2023 09:17am

Exchange companies sector: MCR enhanced to Rs500m as SBP introduces major reforms

KARACHI: The State Bank of Pakistan (SBP), introducing the structural reforms for the Exchange Companies, on...

Updated 07 Sep, 2023 09:17am

Pakistan

Troops repel TTP cross-border raid from Afghanistan

Four troops martyred, 12 TTP militants killed

Updated 07 Sep, 2023 08:54am

PPIB approves 30pc raise in basic salaries of its employees

ISLAMABAD: The Private Power & Infrastructure Board (PPIB) has approved interim relief of 30 per cent in basic...

Updated 07 Sep, 2023 08:54am

No head of any corporation or organisation can directly approach PM now: PMO

ISLAMABAD: The Prime Minister Office (PMO) has put a bar on direct meetings or correspondence by the heads of...

Updated 07 Sep, 2023 08:53am

BR’s refresher: your morning briefing for the day

Important updates from September 6, 2023

Published 07 Sep, 2023 08:50am

BR Research

‘Compliance - road to raising export potential’

For Pakistan to come out of its frequent balance of payment crises, it has no choice but to increase exports, apart...

Published 07 Sep, 2023 08:45am

BR Research

‘Rice Export: don’t get stupid’

During the last fiscal year, Pakistan’s rice industry truly came to appreciate the power of price effect. Although...

Published 07 Sep, 2023 08:42am

BR Research

Ghazi Fabrics International Limited

Ghazi Fabrics International Limited (PSX: GFIL) was incorporated in Pakistan as a private limited company in 1989...

Published 07 Sep, 2023 08:38am

Taxes

KTBA complains about ‘problematic’ IRIS portal

KARACHI: Taxpayers are still facing difficulties in complying with tax filing requirements due to persistent issues...

Updated 07 Sep, 2023 06:46am

Opinion

Evolution, challenges, and prospects of oil and gas exploration sector

Pakistan’s oil and gas exploration and production (E&P) sector has traversed a fascinating path since the ...