News Archives for Latest - 2023-09-11

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Archive - 2023-09-11

World

Putin and Kim's meeting will be full-scale visit, Kremlin says

MOSCOW: North Korean leader Kim Jong Un's trip to Russia and meeting with President Vladimir Putin will be a...

Published 11 Sep, 2023 11:11pm

Sports

Asia Cup 2023: Pakistan thrashed in Colombo as India prevail by 228 runs

Chasing 357, Pakistan bundled out for paltry 128 as directionless batters succumb to Indian bowling

Updated 11 Sep, 2023 11:04pm

World

US, ahead of Putin and Kim meeting, says it will not hesitate to impose new sanctions

WASHINGTON: The transfer of arms from North Korea to Russia would be in violation of multiple United Nations ...

Published 11 Sep, 2023 10:57pm

Europe

UK says Russia targeted Black Sea cargo ship with missiles

LONDON: Russia's military targeted a civilian cargo ship in the Black Sea with "multiple missiles" last month but...

Published 11 Sep, 2023 10:48pm

Commodities

Gold rates in Pakistan decline another Rs2,600 per tola

Price of 24-carat bar settles at Rs209,400 per tola

Updated 11 Sep, 2023 09:19pm

Stocks

Stock markets rise as US inflation data, ECB rate loom

LONDON: Stock markets rose on Monday at the start of a busy week that includes key US inflation data and a European...

Published 11 Sep, 2023 09:03pm

Industry

Pakistan’s car sales jump 49% MoM in August

Car sales in Pakistan witnessed an increase of 49% on a month-on-month (MoM) basis in August 2023, clocking in at...

Published 11 Sep, 2023 08:37pm

Perspectives

Exploring broader implications of Pakistan’s local currency debt restructuring

Recently, a lot of discussion has been on why local currency debt restructuring is viable and possible. However, in...

Published 11 Sep, 2023 08:19pm

Business & Economy

Pakistan’s remittances clock in at $2.1bn in August, 24% lower YoY

However, inflow 3.1% higher on monthly basis

Updated 11 Sep, 2023 07:55pm

Africa

Storm and floods kill at least 150 people in Libya: Red Crescent

BENGHAZI: A powerful storm and heavy floods have killed 150 people in the eastern Libyan city of Derna over the last...

Published 11 Sep, 2023 07:34pm

Europe

Ukraine says Germany ‘wasting time’ on missile decision

KYIV: Foreign Minister Dmytro Kuleba on Monday urged Berlin to supply Ukraine with long-range Taurus missiles...

Published 11 Sep, 2023 07:32pm

Stocks

KSE-100 loses over 147 points amid rate hike concerns

The Pakistan Stock Exchange (PSX) witnessed a negative session on Monday, as its benchmark KSE-100 Index closed in...

Published 11 Sep, 2023 06:41pm

Pakistan

President Alvi, interim law minister meet again to discuss elections

The meeting is part of ongoing discussions about the electoral process, according to the President House

Published 11 Sep, 2023 06:41pm

Stocks

Sri Lankan shares end lower as financials, industrials drag

BENGALURU: Sri Lankan shares closed lower on Monday, dragged down by a fall in financial and industrial stocks. The...

Published 11 Sep, 2023 06:34pm

Middle East

Saudi Arabia to consider Sovereign Wealth Fund office in India’s GIFT City

NEW DELHI: Saudi Arabia will consider setting up an office of its Sovereign Wealth Fund in India’s Gujarat...

Published 11 Sep, 2023 06:31pm

Forex

Inter-bank market: rupee continues to post gains against US dollar

Currency settles at 301.16, an appreciation of 0.59% in inter-bank market

Updated 11 Sep, 2023 06:28pm

Companies

Kohinoor Textile Mills posts 72% increase in profit

Kohinoor Textile Mills Limited (KTML) registered a profit after tax (PAT) of Rs9.19 billion for the fiscal year...

Published 11 Sep, 2023 06:23pm

Health & Wellness

Local in focus: 5 fragrance brands on our radar

Although not a novice offering, local companies and brands are foraying into the beauty and wellness market,...

Published 11 Sep, 2023 06:18pm

South Asia

India, Saudi discuss ports-rail project, local currency trade

NEW DELHI: India will be connected by railroad under a multinational Middle East-South Asia rail and ports corridor...

Updated 11 Sep, 2023 06:20pm

Stocks

Wall St eyes higher open as Tesla rallies; inflation data in focus

Wall Street’s main indexes were set to open higher on Monday following gains in megacaps led by Tesla, while...

Published 11 Sep, 2023 06:14pm

Movies & Music

Celebrities spotted at the US Open men’s singles final

Leonardo DiCaprio, Matthew McConaughey, Sting and Charlize Theron were among those spotted at the US Open men’s...

Updated 11 Sep, 2023 06:06pm

Pakistan

FO wants interim Afghan govt to be ‘mindful’ of Pakistan’s concerns regarding territorial integrity

Pakistan’s Foreign Office (FO) said it wants its border with Afghanistan to be a one of “peace and amity between the...

Updated 11 Sep, 2023 05:48pm

Forex

Rupee now stronger in open market than in inter-bank market: ECAP data

At the end of trading, Exchange Companies Association of Pakistan quotes rates at Rs297 and Rs300 for buying and selling, respectively

Updated 11 Sep, 2023 05:46pm

Europe

EU warns Russia after ‘illegal’ vote in occupied Ukraine

BRUSSELS: The European Union warned Russia on Monday that there would be “consequences” for those involved in...

Published 11 Sep, 2023 05:28pm

Companies

All of UK retailer Wilko’s stores to shut, risking 12,500 jobs

LONDON: Failed retailer Wilko will disappear from British high streets next month, as its entire chain of 400...

Published 11 Sep, 2023 05:13pm

Pakistan

FC personnel martyred, several injured in Peshawar blast

Injured shifted to Combined Military Hospital

Updated 11 Sep, 2023 05:11pm

Africa

Morocco rescuers race to find survivors as earthquake toll nears 2,500

IMGDAL, MOROCCO: Rescuers raced against time on Monday to find survivors in the rubble more than 48 hours after...

Published 11 Sep, 2023 05:09pm

Companies

Telesat taps SpaceX to launch its broadband satellites in orbit

OTTAWA: Canada’s Telesat on Monday said it has signed a agreement with SpaceX to launch its low-Earth-orbit (LEO)...

Published 11 Sep, 2023 04:55pm

Stocks

India’s Nifty 50 hits record high as local, global investors pile into stocks

BENGALURU: India’s Nifty 50 hit a lifetime high on Monday on the back of a record-setting rally powered by local...

Published 11 Sep, 2023 04:35pm

Energy

Oil prices ease from 10-month highs but hold above $90 a barrel

LONDON: Oil prices edged lower on Monday after fresh Saudi and Russian crude output cuts had driven prices to...

Updated 11 Sep, 2023 04:31pm

Commodities

Copper climbs with Chinese currency recovery

LONDON: Copper prices rose on Monday as a stronger Chinese currency, a weaker dollar and buoyant loan data from top...

Published 11 Sep, 2023 04:28pm

Commodities

Palm down on rising stocks, falling exports

JAKARTA: Malaysian palm oil futures fell for the sixth consecutive day on Monday after data from the Malaysian Palm...

Published 11 Sep, 2023 04:26pm

South Asia

Modi hails Saudi ties after ‘historic’ route unveiled

NEW DELHI: India hailed its “strategic” partnership with oil-rich Saudi Arabia on Monday, days after unveiling a...

Published 11 Sep, 2023 03:40pm

Sports

Former Pakistan cricketer Khalid Latif gets 12 years for inciting murder of Dutch MP

It is extremely unlikely that Latif, who was convicted in absentia, will serve his sentence

Published 11 Sep, 2023 03:35pm

Companies

AsiaPak Investments acquires Pakistan’s Bol Network, amount not disclosed

AsiaPak Investments, a private investment firm with operational assets in Pakistan and Hong Kong, has acquired Bol...

Published 11 Sep, 2023 03:28pm

Africa

24 die in north Nigeria boat accident

KANO: At least 24 farmers died and dozens of others were missing after a boat capsized in north-central Nigeria on...

Published 11 Sep, 2023 03:22pm

Europe

In Russia’s Pacific port, residents await North Korea’s Kim Jong Un

VLADIVOSTOK: In Russia’s Pacific port, residents said the stars may have aligned for a visit by North Korean leader...

Published 11 Sep, 2023 02:47pm

Movies & Music

Waititi, Keaton go behind lens at Toronto film fest

TORONTO, Canada: Every day at the Toronto International Film Festival features a jam-packed schedule with screenings...

Published 11 Sep, 2023 02:32pm

South Asia

India court warns SpiceJet of ‘drastic action’ if Credit Suisse dues unpaid

NEW DELHI: India’s top court on Monday directed SpiceJet to pay $1.5 million in a case related to unpaid dues to...

Published 11 Sep, 2023 02:30pm

Middle East

Israeli delegation makes first open visit to Saudi Arabia

RIYADH: An Israeli delegation is in Riyadh for a UNESCO meeting, an Israeli official told AFP on Monday, marking the...

Published 11 Sep, 2023 02:26pm

Europe

Climate change ‘dystopian future already here’: UN rights chief

GENEVA: Climate change is sparking human rights emergencies in numerous countries, the UN rights chief said Monday,...

Published 11 Sep, 2023 02:21pm

Business & Finance

EU cuts eurozone 2023 growth forecast

BRUSSELS: The European Commission cut its 2023 forecast for economic growth in the eurozone by 0.3 points to 0.8...

Published 11 Sep, 2023 02:15pm

Commodities

Malaysia’s end-Aug palm oil stocks jump to 7-month high

KUALA LUMPUR/MUMBAI: Malaysia’s palm oil stocks rose to their highest in seven months at the end of August as...

Updated 11 Sep, 2023 12:53pm

Forex

South African rand jumps ahead of manufacturing data, US CPI

JOHANNESBURG: The South African rand jumped against a weaker dollar early on Monday as investors awaited local...

Published 11 Sep, 2023 12:51pm

Forex

Russian rouble firms to one-week high vs dollar

The Russian rouble strengthened to a one-week high against the dollar on Monday, rising sharply after hitting its...

Published 11 Sep, 2023 12:44pm

Stocks

Miners boost FTSE 100 on China optimism; Vistry jumps

The UK’s exporter-heavy FTSE 100 index opened higher on Monday boosted by miners after positive China data signalled...

Published 11 Sep, 2023 12:41pm

Markets

Vietnam Airlines signs $7.8bn deal with Boeing: White House

HANOI: Vietnam Airlines has signed a $7.8 billion deal with US aircraft manufacturer Boeing, the White House said in...

Published 11 Sep, 2023 12:28pm

Stocks

European stock markets climb at open

LONDON: European stock markets rose at the start of trading on Monday with focus this week on US inflation data and...

Published 11 Sep, 2023 12:26pm

Stocks

Tokyo’s Nikkei index falls on higher yen, rising yields

TOKYO: Tokyo’s blue chip shares drifted lower Monday, driven down by the yen’s appreciation and the rise of Japan’s...

Updated 11 Sep, 2023 12:25pm

Sports

Southgate twice convinced Walker not to retire from England duty

GLASGOW: England manager Gareth Southgate says he has twice persuaded Kyle Walker not to retire from international...

Published 11 Sep, 2023 12:21pm

Sports

Luis Rubiales, from union boss to Spain’s football federation chief

MADRID: Spain’s football federation chief Luis Rubiales, who on Sunday said he will resign following the scandal...

Published 11 Sep, 2023 12:18pm

Sports

Weghorst keeps Netherlands on course for Euros as Ireland stumble

DUBLIN: Wout Weghorst kept the Netherlands on course for Euro 2024 as he came off the bench to bag the decisive goal...

Published 11 Sep, 2023 12:14pm

Europe

Russia says two Ukrainian drones downed over Belgorod

MOSCOW: Russia said it destroyed two Ukrainian drones close to the border in the Belgorod region on Monday. No...

Published 11 Sep, 2023 12:08pm

Sports

Williamson, Southee boost New Zealand’s ODI World Cup squad

WELLINGTON: Kane Williamson and Tim Southee were included Monday in an experienced New Zealand squad for next...

Published 11 Sep, 2023 12:05pm

Stocks

Hong Kong stocks tumble at open

HONG KONG: Hong Kong opened with big losses Monday morning as investors returned from an extended weekend to play...

Published 11 Sep, 2023 12:02pm

Financial

Pause or hike? ECB rate decision on a knife edge

FRANKFURT: The European Central Bank is walking a tightrope between still-high inflation and a darkening eurozone...

Published 11 Sep, 2023 12:01pm

South Asia

Macron in Bangladesh to ‘consolidate’ France’s Indo-Pacific push

DHAKA: President Emmanuel Macron was in Bangladesh on Monday in a bid to “consolidate” France’s Indo-Pacific...

Published 11 Sep, 2023 11:59am

Companies

BMW to make ‘multi-million’ pound investment in UK plants: govt

LONDON: German car giant BMW is to make a multi-million pound investment in its Mini plants in the UK, the...

Published 11 Sep, 2023 11:54am

Europe

German foreign minister in surprise visit to Kyiv

FRANKFURT: German Foreign Minister Annalena Baerbock made a surprise visit to Kyiv Monday, promising unwavering...

Published 11 Sep, 2023 11:52am

Africa

Moroccan citizens step in to help quake victims

TAFEGHAGHTE: Ordinary citizens are stepping in to do their bit for victims of the deadly earthquake in Morocco,...

Published 11 Sep, 2023 11:50am

Asia

Rains from dying typhoon batter China for seventh day

BEIJING: Heavy rains from a typhoon kept southern China drenched for the seventh day as slow-moving storm clouds...

Published 11 Sep, 2023 11:02am

Mutual Funds

JGB yields rise after report says BOJ governor signals possible rate hikes

TOKYO: Japanese government bond (JGB) yields rose on Monday after local media reported that Bank of Japan (BOJ)...

Published 11 Sep, 2023 10:56am

Commodities

London copper rises on signs of China economic stabilisation

BEIJING: London copper rose on Monday after a weekly loss, as signs of economic stabilisation in China sparked...

Published 11 Sep, 2023 10:54am

Forex

China’s central bank yanks yuan off 16-year low with strongest fixing bias

SHANGHAI/SINGAPORE: China’s central bank yanked the yuan off a 16-year low against the dollar on Monday by setting a...

Published 11 Sep, 2023 10:52am

Mutual Funds

India bond yields may edge higher tracking US Treasuries

MUMBAI: Indian government bond yields are likely to rise on Monday morning tracking US Treasury yields, even as...

Published 11 Sep, 2023 10:43am

Forex

Indian rupee likely to remain above 83/USD on positive Asian cues

MUMBAI: The Indian rupee is expected to remain above 83 to the US dollar on Monday on the back of an uptick in most...

Published 11 Sep, 2023 10:39am

Commodities

Wheat falls on ample Russian supplies, market eyes US report

SINGAPORE: Chicago wheat lost ground on Monday, trading close to the last session’s 14-week low on pressure from...

Published 11 Sep, 2023 10:29am

Commodities

Vietnam Jan-Aug coffee exports down 5.4% y/y at 1.2mn tons

HANOI: Vietnam’s coffee exports in the first eight months of 2023 stood at 1.2 million metric tons, a fall of 5.4%...

Published 11 Sep, 2023 10:26am

World

Up to Brazil’s judiciary to decide on Putin arrest if he visits Brazil: Lula

It would be up to Brazil’s judiciary to decide if Russian President Putin would be arrested or not if he attends...

Published 11 Sep, 2023 10:24am

South Asia

Modi scolds Trudeau over Sikh protests in Canada against India

TORONTO: Indian Prime Minister Narendra Modi conveyed strong concerns about protests in Canada against India to...

Published 11 Sep, 2023 10:19am

Smuggling of Iranian oil into Pakistan: 90 govt officials, 29 politicians found involved

ISLAMABAD: Pakistan is facing loss of more than Rs60 billion annually due to smuggling of more than 2.81 billion...

Updated 11 Sep, 2023 10:16am

Real Estate

Country Garden faces fresh test for onshore bond extensions

HONG KONG: Embattled developer Country Garden faces a new round of voting by creditors to extend several debt...

Published 11 Sep, 2023 10:03am

Caretakers likely to ease the woes of power sector

The Power Division proposes implementation on 'old proposed measures with new words' to the caretaker government with the assertion that now failure is no option

Updated 11 Sep, 2023 10:00am

Technology

Alibaba shares slide 4% after former CEO quits cloud unit

HONG KONG: The Hong Kong-listed shares of China’s Alibaba Group fell more than 4% on Monday after the surprise...

Published 11 Sep, 2023 10:00am

Bullion Rate

Gold gains as US inflation data takes centre stage this week

Gold prices rose on Monday, supported by a retreat in the dollar as investors looked forward to US inflation data...

Published 11 Sep, 2023 09:57am

Forex

Australia, NZ dollars helped by surging yen, resistance still plentiful

SYDNEY: The Australian and New Zealand dollars found some support on Monday after plumbing 10-month lows, but risk...

Published 11 Sep, 2023 09:52am

Stocks

Australian shares slip as mining stocks decline

Australian shares slipped for a fifth session on Monday, weighed down by losses in mining stocks on weak commodity...

Published 11 Sep, 2023 09:49am

Stocks

Indian shares inch towards record highs ahead of key macro data

BENGALURU: Indian benchmarks indexes inched towards record highs on Monday, led by financials, with their gains in...

Published 11 Sep, 2023 09:44am

MoITT not yet ready to launch Starlink internet services

ISLAMABAD: Although Caretaker Prime Minister Anwaar-ul-Haq Kakar has given a go-ahead to the Ministry of Information...

Updated 11 Sep, 2023 09:42am

Sports

Djokovic not ready to pass the torch after 24th major win

NEW YORK: Novak Djokovic has no intention of passing the torch to the next generation just yet, the 36-year-old Serb...

Published 11 Sep, 2023 09:40am

Pakistan

PPP’s allies may be running away from elections: Bilawal

KARACHI/HYDERABAD: PPP Chairman Bilawal Bhutto-Zardari said on Sunday it may be the case that his party’s allies in...

Updated 11 Sep, 2023 09:34am

Forex

Yen jumps on Ueda’s remarks; dollar tentative ahead of US inflation print

SINGAPORE: The yen strengthened on Monday as comments from Bank of Japan (BOJ) Governor Kazuo Ueda stoked hopes that...

Published 11 Sep, 2023 09:33am

Pakistan

Judges, armed forces’ personnel exempted from NAO: AGP

ISLAMABAD: Attorney General for Pakistan (AGP) Mansoor Awan has contended that the National Accountability Ordinance...

Updated 11 Sep, 2023 09:31am

Stocks

Asia stock markets weaken amid ongoing retreat from Chinese property sector

SYDNEY: Asia stock markets weakened on Monday as investors in China sold off shares in property developers,...

Published 11 Sep, 2023 09:25am

Power pilferers: IESCO detects 105 meters, imposes Rs7.567m fine

ISLAMABAD: On the directives of the government, the Islamabad Electric Supply Company (IESCO) has expedited drive...

Updated 11 Sep, 2023 09:07am

Chinese investor seeks fast-track forum for getting justice

ISLAMABAD: A Chinese investor, deceived by his Pakistani partners, has requested Pakistani authorities/ regulators...

Updated 11 Sep, 2023 09:06am

Unchallenged tax demand case: FTO waiting for tax officials’ response

ISLAMABAD: The Federal Tax Ombudsman (FTO) is waiting for the response of the Federal Board of Revenue (FBR), Chief...

Updated 11 Sep, 2023 09:05am

BR Research

How not to achieve food security

How many things out of your regular consumption basket have witnessed no increase in prices over the past several...

Published 11 Sep, 2023 08:55am

BR Research

Cement: Returning to health?

The country may be in the thick of an ongoing macroeconomic crisis, facing challenges on multiple fronts, but is...

Published 11 Sep, 2023 08:51am

BR Research

Emco Industries Limited

Emco Industries Limited (PSX: EMCO) was incorporated in Pakistan as a joint stock company in as a joint stock...

Published 11 Sep, 2023 08:49am

BR’s refresher: your morning briefing for the day

Important updates from September 9 and September 10, 2023

Published 11 Sep, 2023 08:40am

Four held as IR Intelligence busts ‘fake sales tax invoice mafia’

ISLAMABAD: Inland Revenue Intelligence Directorate Karachi has busted an inter-province gang of fake/ flying sales...

Updated 11 Sep, 2023 08:39am

‘Massive’ crackdown on hoarders, smugglers announced

ISLAMABAD: Caretaker Federal Minister for Interior Sarfaraz Ahmed Bugti announced to launch a massive crackdown on...

Updated 11 Sep, 2023 08:37am

Martyred policemen: Steps being taken for welfare of heirs

LAHORE : On the directions of Inspector General Police Punjab Dr Usman Anwar, priority measures are being taken for...

Updated 11 Sep, 2023 08:36am

Business & Finance

Need stressed to boost trade with ASEAN member countries

KARACHI: Pakistan has very cordial relations with the Association of East Asian Nations (ASEAN) member countries;...

Published 11 Sep, 2023 07:35am

Business & Finance

Structural reforms termed a must for economic revival

KARACHI: Chairman of National Business Group Pakistan, President Pakistan Businessmen and Intellectuals Forum, and...

Published 11 Sep, 2023 07:31am

Sports

Sindh Premier League: PCB issues NOC

KARACHI: Sindh Premier League President Arif Malik, along with former provincial minister of Sindh Syed Nasir ...

Published 11 Sep, 2023 07:27am

Energy

Sindh govt decides to launch crackdown against power theft

KARACHI: The Caretaker Sindh government has decided to launch a crackdown against electricity theft across the...

Published 11 Sep, 2023 07:24am

Cotton & Textile

Weekly Cotton Review: Spot rate declines on fall in New York cotton prices

KARACHI: Unprecedented fluctuation of Rs 3,000 per maund in the rate of cotton was seen previous week. There was a...

Published 11 Sep, 2023 07:23am

Business & Finance

Speakers underscore need for abolishing distinction between filer and non-filer

ISLAMABAD: The speakers at the Pakistan Institute of Development Economics (PIDE) conference on Sunday said that the...

Published 11 Sep, 2023 07:21am

Industry

‘Pakistan needs to invite all reputable multinational seed cos’

LAHORE: Pakistan needs to invite all the reputable multinational seed companies with cutting-edge technologies and a...

Published 11 Sep, 2023 07:14am

Industry

Chinese investors meet Chairman FIEDMC

FAISALABAD: Chairman FIEDMC Mian Muhammad Anas Jaan, CEO Muhammad Tanveer Jabbar had a special meeting with Chinese...

Published 11 Sep, 2023 07:12am

Opinion

The energy quagmire

When something sounds too good to be true, it usually is. ‘Increase electricity consumption to lower the...

Published 11 Sep, 2023 07:00am

Opinion

Rating agencies and Pakistan’s response

There are three major international credit rating agencies providing investors information about bond and debt...

Published 11 Sep, 2023 06:54am

Editorials

Left behind

EDITORIAL: In its latest review report on the Sustainable Development Goals (SDGs) 2030, which replaced the...

Published 11 Sep, 2023 06:49am

World

US, Vietnam agree to deepen ties as China worries grow

HANOI: US President Joe Biden hailed closer ties with Vietnam on Sunday as the two countries struck a deal to deepen...