News Archives for Latest - 2023-09-08

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Archive - 2023-09-08

World

General warns China seeking to 'exploit' US military knowledge

WASHINGTON: Top US Air Force officer General Charles Brown warned service members Friday that China is seeking to...

Published 08 Sep, 2023 11:36pm

Video

Caretaker setup is ‘empowered’ to bring economic reforms: Solangi

Interim govt's key ministers hold press conference on SIFC meeting

Updated 08 Sep, 2023 11:18pm

World

US, India agree to resolve last outstanding WTO dispute

WASHINGTON: The United States said Friday it has agreed with India to resolve their last outstanding dispute at the...

Published 08 Sep, 2023 10:44pm

Stocks

KSE-100 gains over 250 points as investors weigh rupee’s recovery

The index increases by 1.55% on week-on-week basis

Published 08 Sep, 2023 09:50pm

Stocks

European shares end week lower due to rate hike worries

European stocks logged weekly losses despite gaining on Friday, as investors fretted over a worsening outlook for...

Published 08 Sep, 2023 09:40pm

Stocks

UK stocks rise as slower August hiring boosts rate pause optimism

London stocks had their best day in a week on Friday after a survey signalled slower hiring activity in August,...

Published 08 Sep, 2023 09:38pm

Stocks

UAE shares jump on possible rail, port deal

Stock markets in the United Arab Emirates rose on Friday, after Reuters reported that the United States, Saudi...

Published 08 Sep, 2023 07:54pm

Stocks

S&P, Nasdaq rise as megacaps gain ahead of key inflation data

The S&P 500 and Nasdaq rose on Friday as megacaps including Apple and Tesla gained ahead of a fresh inflation...

Published 08 Sep, 2023 07:51pm

Pakistan

Bilawal Bhutto demands elections ‘according to constitution’

Says PPP was always ready for polls

Updated 08 Sep, 2023 07:25pm

Forex

Open market: rupee’s rally continues against USD

The Pakistani rupee maintained its positive run against the US dollar in the open market on Friday as gap with the...

Updated 08 Sep, 2023 07:19pm

Forex

Inter-bank market: rupee’s merry run continues against US dollar

Currency appreciates 0.66% to settle at 302.95 in inter-bank market

Updated 08 Sep, 2023 07:18pm

Stocks

Pakistan’s cooking oil brand Soya Supreme plans IPO

KARACHI: Soya Supreme, one of Pakistan’s largest cooking oil manufacturers, is planning an initial public offering...

Updated 08 Sep, 2023 07:11pm

Companies

Sitara Peroxide extends shutdown for 30 days

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

Updated 08 Sep, 2023 06:54pm

Currency

Fed’s Barr says central bank ‘a long way’ from any decision on issuing digital currency

WASHINGTON: The Federal Reserve’s top regulatory official said on Friday the central bank is “a long way” from any...

Published 08 Sep, 2023 06:53pm

Europe

Zelenskiy says Putin killed mercenary boss Prigozhin

KYIV: Ukrainian President Volodymyr Zelenskiy said on Friday Russian leader Vladimir Putin was behind the death of...

Published 08 Sep, 2023 06:48pm

Companies

FY23: Amreli Steels posts loss of Rs678.4mn amid drop in sales, higher finance cost

Amreli Steels Limited sustained losses to the tune of Rs678.44 million amid drop in sales and high cost of finance...

Updated 08 Sep, 2023 06:38pm

Europe

UK marks first anniversary of Queen Elizabeth II’s death

LONDON: Britain’s King Charles III on Friday thanked the public for their support in his first year as monarch, as...

Published 08 Sep, 2023 06:38pm

Commodities

Gold prices fall by Rs4,000/tola in Pakistan, slide continues for fifth day

The price of 24-carat bar settles at Rs212,500 per tola

Updated 08 Sep, 2023 06:37pm

Movies & Music

Shah Rukh Khan’s ‘Jawan’ scripts biggest opening day in Bollywood cinema

Bollywood star Shah Rukh Khan, who headlined his latest film ‘Jawan’, beat his own record as the movie’s opening day...

Published 08 Sep, 2023 06:31pm

South Asia

G20 gathers in India with Xi absent

NEW DELHI: G20 leaders began to descend on New Delhi Friday, hoping to make progress on trade, climate and a host of...

Published 08 Sep, 2023 06:20pm

Pakistan

PTI leader Pervez Elahi sent to Adiala jail on 14-day judicial remand

ATC Judge Abul Hasnat Zulqarnain rejects prosecution’s request seeking 10-day physical remand

Updated 08 Sep, 2023 06:20pm

Energy

Global LNG: Asian spot prices slip on tepid demand, Australia strike offers no support

LONDON/SINGAPORE: Asian spot liquefied natural gas (LNG) prices inched down this week on tepid demand, even as...

Published 08 Sep, 2023 05:59pm

Commodities

Asia gold: India discounts widest in seven weeks, China premiums bounce back

Discounts on physical gold were highest in seven weeks in India as sturdy domestic rates restricted purchases, while...

Published 08 Sep, 2023 05:51pm

Interest Rates

Another brokerage house expects 200bps hike in key policy rate

Topline Securities also sees PKR/USD in inter-bank market to be in range of Rs320-340 by June 2024

Published 08 Sep, 2023 05:37pm

South Asia

One killed as security forces open fire to disperse crowd in India’s Manipur

GUWAHATI: Security forces lobbed tear gas and opened fired to disperse a crowd of about 500 people in India’s...

Published 08 Sep, 2023 05:44pm

Money & Banking

India’s forex reserves snap 2-week fall

MUMBAI: India’s foreign exchange reserves halted a two-week losing streak and rose to $598.90 billion as of Sep. 1,...

Published 08 Sep, 2023 05:32pm

Energy

Oil ticks higher as tight supply trumps macroeconomic gloom

LONDON: Oil prices hovered above $90 a barrel on Friday, on track to end the week higher as investors chose to focus...

Updated 08 Sep, 2023 05:26pm

Stocks

Indian shares log best week in over two months as energy cos gain

BENGALURU: Indian shares rose to a six-week high on Friday, led by gains in energy stocks, to log their best week in...

Published 08 Sep, 2023 05:19pm

Stocks

Sri Lankan shares end higher as industrials rise

CSE All-Share index settled up 0.96% at 11,466.07

Published 08 Sep, 2023 05:16pm

Commodities

Strong dollar pushes copper towards biggest weekly drop in four

LONDON: Copper prices in London extended declines on Friday, heading for the biggest weekly loss in four weeks,...

Published 08 Sep, 2023 05:13pm

Commodities

Palm logs first weekly drop in four as outlook, rival oils weigh

JAKARTA: Malaysian palm oil futures posted a weekly drop on Friday, snapping three consecutive weeks of gains, hurt...

Published 08 Sep, 2023 05:10pm

Pakistan

SC rejects previous PDM govt’s objections on bench hearing audio leaks case

The Supreme Court (SC) rejected on Friday then-Pakistan Democratic Movement (PDM)-led government’s objection against...

Updated 08 Sep, 2023 04:31pm

Companies

FY23: Ismail Industries Limited reports profit of Rs5.89bn, 157% higher YoY

Ismail Industries Limited (ISIL), manufacturer of sugar confectionery items, reported a profit after tax (PAT) of...

Published 08 Sep, 2023 02:33pm

Stocks

European stock markets climb at open

LONDON: Europe’s main stock markets rose at the start of trading on Friday, brushing off losses in Tokyo and...

Published 08 Sep, 2023 02:21pm

Movies & Music

Toronto film fest opens with Miyazaki’s likely swan song

TORONTO, Canada: The biggest film festival in North America opens Thursday in Toronto with the international launch...

Published 08 Sep, 2023 02:13pm

Forex

Russian rouble edges up, supported by expected forex sales

The Russian rouble rose on Friday, helped by expectations of sales of foreign currency by export-oriented companies...

Published 08 Sep, 2023 01:47pm

Europe

World food price index back at two-year low despite rice surge: FAO

PARIS: The United Nations food agency’s world price index fell in August to a new two-year low, reversing a rebound...

Published 08 Sep, 2023 01:45pm

Europe

Ukrainian air force shoots down 16 drones over Odesa region

KYIV: Ukraine’s air force shot down 16 out of 20 Iranian-made “Shahed” drones launched by Russia overnight in the...

Published 08 Sep, 2023 01:41pm

Business & Finance

China Premier Li says to expand imports from Indonesia

BEIJING: China stands ready to expand imports of Indonesian bulk commodities and premium agricultural and fishery...

Published 08 Sep, 2023 01:39pm

Stocks

UK stocks open higher as oil prices, US bond yields dip

UK’s main stock indexes rose on Friday as easing US bond yields and crude prices offered investors some relief at...

Published 08 Sep, 2023 01:38pm

Forex

South African rand extends gains as analysts bet on Fed pause

JOHANNESBURG: The South African rand extended gains on Friday against a weaker dollar as analysts found comfort in...

Published 08 Sep, 2023 01:37pm

Europe

Russian strike kills one, injures nine in Ukraine’s Kryvyi Rih

KYIV: A Russian missile attack killed one person and wounded nine others on Friday morning in the southern Ukrainian...

Published 08 Sep, 2023 01:36pm

Movies & Music

‘That 70’s Show’ actor Masterson sentenced to 30 years to life in prison

LOS ANGELES: ’That ‘70s Show’ actor Danny Masterson was sentenced to 30 years to life in prison for raping two women...

Published 08 Sep, 2023 12:34pm

Power sector quagmire: Implementation of 3-pronged strategy begins

Sources say government will start energy conservation drive from next month, engage with Chinese top leadership and top bosses of Chinese power plants, and crackdown on electricity theft from Sept 7

Updated 08 Sep, 2023 11:44am

Forex

Yuan falls to weakest since Dec 2007 as outflow pressure builds

SHANGHAI: China’s yuan slipped on Friday to its weakest since December 2007, hit by capital outflow pressures and a...

Published 08 Sep, 2023 11:29am

Middle East

Helicopter crashed into sea off Dubai, search for crew underway

DUBAI: An AeroGulf helicopter crashed into the sea on Thursday evening and a search is underway for its crew of two...

Published 08 Sep, 2023 11:26am

SIFC identifies 9 power projects worth $6.87bn

ISLAMABAD: The Special Investment Facilitation Council (SIFC) has identified nine power sector projects at an...

Updated 08 Sep, 2023 11:23am

Forex

China slowdown drags Australia, NZ dollars to weekly loss

SINGAPORE: The Australian and New Zealand dollars were set for weekly drops against a tearaway dollar on Friday,...

Published 08 Sep, 2023 11:22am

South Asia

Leaders’ consensus at G20 summit is difficult to predict: EU’s Michel

NEW DELHI: It is difficult to predict if leaders of the G20 grouping will reach consensus on a declaration at the...

Published 08 Sep, 2023 11:19am

South Asia

Yellen to work with India at G20 Summit to aid successful communique crafting

NEW DELHI: US Treasury Secretary Janet Yellen said on Friday the United States was willing to work with India to...

Published 08 Sep, 2023 11:16am

Commodities

South Korean mills pass in tender for 45,000 T wheat from Canada

HAMBURG: A group of South Korean flour mills rejected all offers and made no purchase of around 45,000 metric tons...

Published 08 Sep, 2023 11:10am

Europe

King Charles III thanks public year after mother’s death

LONDON: King Charles III on Friday thanked the public for their support in his first year as monarch, as he marked...

Published 08 Sep, 2023 10:54am

Stocks

Shanghai stocks down at open

SHANGHAI: Shanghai stocks dropped at the open Friday, in line with losses across Asia and following a weak lead from...

Published 08 Sep, 2023 10:47am

Asia

Venezuelan President Maduro to visit China

BEIJING: Venezuelan President Nicolas Maduro will visit China from Friday, the foreign ministry in Beijing said, as...

Published 08 Sep, 2023 10:44am

Asia

First phase of Fukushima water release to end Monday

TOKYO: The first phase of releasing treated waste water from Fukushima that has angered China will end on Monday as...

Published 08 Sep, 2023 10:39am

Sports

Sabalenka fends off Keys to reach US Open final

NEW YORK: Aryna Sabalenka fought back from the brink of defeat to overcome American 17th seed Madison Keys in a...

Published 08 Sep, 2023 10:35am

South Asia

Mosquito-borne dengue grows deadlier in South Asia as planet warms

DHAKA/KATHMANDU: Mosquito-borne dengue fever is taking a heavy toll on South Asian nations this year as Bangladesh...

Published 08 Sep, 2023 10:24am

Asia

Hong Kong’s heaviest rain in at least 140 years floods city streets, metro

HONG KONG: Torrential rain deluged Hong Kong on Friday leading to widespread flooding across the densely packed...

Published 08 Sep, 2023 10:19am

Forex

Buoyant dollar on course for its longest weekly winning streak since 2014

SINGAPORE: The dollar was headed for its longest weekly winning streak in nine years on Friday, bolstered by a...

Published 08 Sep, 2023 10:14am

Stocks

Australian shares slip as strong US data sparks rate-hike fears

Australian shares inched lower on Friday, extending losses for a fourth session, as strong US economic data stoked...

Published 08 Sep, 2023 10:12am

Stocks

Stocks stumble as ‘dollar juggernaut’ on a roll

SINGAPORE: Asia’s stock markets dipped on Friday, with tech shares tumbling on deepening Sino-US tensions, while the...

Published 08 Sep, 2023 10:09am

Commodities

Soybeans set for second weekly drop on bumper LatAm supply outlook

SINGAPORE: Chicago soybeans eased on Friday and the market was on track for a second consecutive weekly drop on...

Published 08 Sep, 2023 10:06am

Stocks

Japan’s Nikkei extends losses on US rate jitters, iPhone ban

TOKYO: Japan’s Nikkei share average fell for a second session on Friday, tracking overnight Wall Street losses as...

Published 08 Sep, 2023 10:04am

Stocks

Shares of Apple suppliers fall on reports of China iPhone curbs

TAIPEI: The shares of several major Apple suppliers fell on Friday, following reports that China had widened curbs...

Published 08 Sep, 2023 10:02am

Asia

Nearly all world’s population exposed to global warming over June-Sept

SINGAPORE: Nearly all of the world’s population experienced higher temperatures from June to August as a result of...

Published 08 Sep, 2023 09:58am

Economic challenges: Army vows its full support to caretaker setup

Reiterates to assist the government in curbing all illegal activities which hamper economic stability, growth and investors’ confidence

Updated 08 Sep, 2023 09:55am

Mutual Funds

India bond yields may dip at open, debt sale to cap major move

MUMBAI: Indian government bond yields are likely to ease in the early session on Friday, mirroring US yields, but a...

Published 08 Sep, 2023 09:55am

Sports

Climate protesters halt US Open semi-finals

NEW YORK: Climate protesters halted the US Open women’s semi-final between American Coco Gauff and Czech Karolina...

Published 08 Sep, 2023 09:53am

Forex

Indian rupee to see some relief on pullback in US yields, dollar index

MUMBAI: The Indian rupee is expected to open higher on Friday on the back of a pullback in US Treasury yields and a...

Published 08 Sep, 2023 09:50am

Financial

Japan won’t rule out any options as dollar approaches to 150 yen

TOKYO: Japanese Finance Minister Shunichi Suzuki said on Friday that rapid currency moves were undesirable and that...

Published 08 Sep, 2023 09:48am

Sports

Messi magic earns Argentina win over Ecuador in World Cup qualifier

BUENOS AIRES: Lionel Messi’s second-half goal gave Argentina a 1-0 home win over Ecuador on Thursday to get their...

Published 08 Sep, 2023 09:46am

Commodities

Palm set for first weekly drop in four weeks

JAKARTA: Malaysian palm oil futures were set for their first weekly drop in four as the market fell further on...

Published 08 Sep, 2023 09:43am

Europe

Russia replies to US criticism of ‘sham’ vote in occupied Ukrainian regions

The Russian embassy in the US said on Friday that Washington was meddling in Russia’s internal affairs by calling...

Published 08 Sep, 2023 09:42am

USA

Storm Margot to become hurricane over weekend

Tropical Storm Margot is forecast to become a hurricane over the weekend as it moves west-north-westward across the...

Published 08 Sep, 2023 09:39am

Sports

Gauff beats Muchova to reach US Open final after protesters disrupt match

NEW YORK: American Coco Gauff beat Karolina Muchova 6-4 7-5 to reach her first US Open final on Thursday after the...

Published 08 Sep, 2023 09:37am

ECs all praise for army chief

KARACHI: There are reports that exchange companies (ECs) have surrendered $ 20 million to the interbank market...

Updated 08 Sep, 2023 09:34am

Technology

China’s Huawei launches Mate 60 Pro+ smartphone for presale

BEIJING: China’s Huawei Technologies on Friday started presales for its Mate 60 Pro+ smartphone, adding a new...

Published 08 Sep, 2023 09:33am

Bench on audio leaks case: SC to announce verdict on recusal of judges today

ISLAMABAD: The Supreme Court will announce Friday (Sept 8) the verdict on the recusal of judges from a five-member...

Updated 08 Sep, 2023 09:32am

Asia

Ten workers killed in gas accident in China’s Inner Mongolia region

BEIJING: Ten people were killed and three others were injured in a gas accident at a workshop in Ordos in China’s...

Published 08 Sep, 2023 09:30am

Stocks

Indian shares extend gains to hit over 5-week high

BENGALURU: Indian shares inched up to a more than one-month high on Friday, extending a five-session winning streak,...

Published 08 Sep, 2023 09:26am

Bullion Rate

Gold set for weekly dip with resilient US economy in focus

Gold firmed on Friday as the dollar retreated from highs but the bullion was still en route to a weekly fall as...

Published 08 Sep, 2023 09:22am

Taxes

Tax system being digitised under reform process: PM

ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar Thursday stated the country’s tax system is being digitised...

Updated 08 Sep, 2023 09:22am

Commodities

Copper set for worst week in four on firm dollar and higher stocks

Copper prices were on track for their biggest weekly drop in four weeks, after a firmer dollar and rising...

Published 08 Sep, 2023 09:20am

Constituencies: ECP reviews progress of delimitations

ISLAMABAD: With general polls seemingly nowhere in sight this year—the electoral body on Thursday reviewed progress...

Updated 08 Sep, 2023 09:20am

Business & Finance

CCP says strictly monitoring ongoing sugar situation

ISLAMABAD: The Competition Commission of Pakistan (CCP) is strictly monitoring the ongoing sugar “crisis” in the...

Updated 08 Sep, 2023 09:20am

Traders seal 12 deals for import of 0.7m MTs of wheat

KARACHI: Pakistani traders have finalized 12 deals for the import 0.7 million metric tons of wheat to avoid the...

Updated 08 Sep, 2023 09:18am

Green Initiative Pakistan: Sustainable gas supply key to agri transformation: FMPAC

KARACHI: Fertilizer Manufacturers of Pakistan Advisory Council (FMPAC) has called for sustainable gas supplies for...

Updated 08 Sep, 2023 08:55am

Now Blome calls on commerce minister

ISLAMABAD: United States Ambassador to Pakistan Donald Blome on Thursday called on the caretaker Federal Minister...

Updated 08 Sep, 2023 08:54am

BR’s refresher: your morning briefing for the day

Important updates from September 7, 2023

Published 08 Sep, 2023 08:50am

BR Research

Ode to localization?

Sometime last week when Indus Motors (PSX: INDU) submitted its financial statements to the PSX, BR Research...

Published 08 Sep, 2023 08:40am

BR Research

Electricity: Use more, not less

The crackdown season is in full swing – from exchange companies hoarding dollars to those hoarding sugar, and...

Published 08 Sep, 2023 08:43am

BR Research

Pakistan Oxygen Limited

Pakistan Oxygen Limited (PSX; PAKOXY) was incorporated in Pakistan as a private limited company in 1949 and was...

Published 08 Sep, 2023 08:32am

Opinion

The anatomy of Discos’ BoDs

The whole nation is seized by the huge bills received by the people. KE – as a vertically integrated utility –...

Updated 08 Sep, 2023 06:40am

Opinion

A questionable digital census

On 5th August, the Council of Common Interests unanimously approved the results of the 7th Population Census of...

Updated 08 Sep, 2023 06:36am

Opinion

SOEs, fiscal discipline & reforms

Despite a wave of privatization in the last 3 decades, SOEs still contribute significantly to the economic growth of...

Updated 08 Sep, 2023 06:31am

Pakistan

The Weather

KARACHI: The weather report on Thursday (September 07, 2023) and the forecast for Friday (September 08, 2023)...