News Archives for Latest - 2023-09-15

Companies

Challenging sociopolitical, macroeconomic factors impair KE’s profitability for FY23

KARACHI: The recently-concluded fiscal year was significantly influenced by challenging sociopolitical and...

Published 15 Sep, 2023 11:57pm

Bullion Rate

Task force constituted for decisive action against ‘gold mafia’

Caretaker govt decides to computerise buying and selling of the yellow metal.

Updated 15 Sep, 2023 11:54pm

Cricket

Bangladesh stun India for consolation Asia Cup win

COLOMBO: Skipper Shakib Al Hasan’s 80 and inspired bowling led Bangladesh to a consolation six-run win over India in...

Updated 15 Sep, 2023 11:30pm

USA

Biden says no one wants UAW strike, but profits should be shared with workers

WASHINGTON: US President Joe Biden said on Friday that no one wants the United Auto Workers (UAW) union to strike in...

Published 15 Sep, 2023 11:09pm

World

UN secretary-general calls for equality for Global South at Cuba G77 summit

HAVANA: United Nations Secretary-General Antonio Guterres on Friday praised efforts to support the Global South in...

Published 15 Sep, 2023 11:03pm

Europe

French ambassador in Niger being held hostage by junta, Macron says

PARIS: France's ambassador in Niger is being held hostage at the French embassy by the military junta which has...

Published 15 Sep, 2023 10:56pm

World

Blinken says he has no knowledge of status of Chinese defense minister

WASHINGTON: US Secretary of State Antony Blinken on Friday said he has no knowledge of the status of China's Defence...

Published 15 Sep, 2023 10:51pm

Pakistan

Bilawal urges ECP to announce election date

Demands level playing field for all political parties

Updated 15 Sep, 2023 09:50pm

Stocks

KSE-100 ends higher in mixed session, down 0.47% week-on-week

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index closed higher by over 100 points in a mixed session on...

Published 15 Sep, 2023 08:28pm

Pakistan

Caretaker PM Kakar says announcing election date beyond mandate of interim setup

Caretaker Prime Minister Anwaar-ul-Haq Kakar reiterated on Friday that announcing the election date was not the...

Published 15 Sep, 2023 08:01pm

Technology

Apple delays high-end iPhone 15 models in China in sign of strong orders

Buyers of Apple’s new iPhone 15 Pro Max in China will need to wait for 4-5 weeks before receiving the smartphone,...

Updated 15 Sep, 2023 07:33pm

Stocks

UAE shares end higher on strong oil, China optimism

Stock markets in the United Arab Emirates rose on Friday, tracking higher oil prices and optimism that the Chinese...

Published 15 Sep, 2023 07:29pm

Forex

8th successive gain: rupee settles at 296.85 against US dollar

Gains 0.37% in inter-bank market on Friday

Updated 15 Sep, 2023 07:29pm

Energy

Oil set for another weekly gain on tight supply and China optimism

LONDON: Oil was on track for a third weekly gain as supply tightness spearheaded by Saudi Arabian production cuts...

Updated 15 Sep, 2023 07:16pm

Currency

Open-market: rupee closes stronger against US dollar

Quoted at 297 and 294 at end of trading on Friday

Updated 15 Sep, 2023 07:15pm

Money & Banking

Meezan Bank says it will establish wholly-owned Exchange Company

The Board of Directors (BoD) of Meezan Bank Limited, the largest Islamic bank in the country, announced that it will...

Updated 15 Sep, 2023 07:12pm

Business & Economy

EC reforms, action against smuggling ‘not contradicting’ IMF conditions: Dr Shamshad

Caretaker finance minister says exchange rate not being manipulated

Updated 15 Sep, 2023 07:05pm

Markets

India’s forex reserves fall to 11-week low

MUMBAI: India’s foreign exchange reserves fell to an 11-week low of $593.90 billion as of Sept. 8, the Reserve Bank...

Published 15 Sep, 2023 06:38pm

Pakistan

Supreme Court annuls amendments to NAB Ordinance

A three-judge bench, headed by CJP Bandial, and comprising Justice Ijazul Ahsan and Justice Syed Mansoor Ali Shah announce reserved verdict

Updated 15 Sep, 2023 06:30pm

Technology

EU fines TikTok 345 million euros over child data

LONDON: A European Union regulator fined Chinese-owned social media platform TikTok 345 million euros over child...

Published 15 Sep, 2023 06:28pm

Money & Banking

Russian central bank says rates will need to stay high as it hikes to 13%

MOSCOW: Russia’s central bank raised its key interest rate by 100 basis points to 13% on Friday, jacking up the cost...

Published 15 Sep, 2023 06:19pm

Companies

UK govt pumps £500mn into Tata Steel but says 3,000 jobs at risk

LONDON: The UK government on Friday said it would provide £500 million ($621 million) to fund the production of...

Published 15 Sep, 2023 06:08pm

Business & Economy

Pakistan’s flag carrier PIA struggling to pay bills

LAHORE: Pakistan’s national flag carrier admitted Friday it was struggling to pay bills and wages after local media...

Published 15 Sep, 2023 06:08pm

Luxury

London Fashion Week throws spotlight on young designers

LONDON: After New York, the fashion world descended on London Friday for a catwalk extravaganza showcasing big names...

Updated 15 Sep, 2023 05:47pm

Companies

Globe Residency REIT declares dividend of Rs3

Globe Residency REIT (GRR), Pakistan’s first listed Developmental Real Estate Investment Trust (REIT), has declared...

Published 15 Sep, 2023 05:40pm

Movies & Music

NSYNC to release first new song in decades for ‘Trolls’ movie

WASHINGTON: American boy band NSYNC has reunited for their first new song in over 20 years, which will be featured...

Published 15 Sep, 2023 05:25pm

Arts

US authorities seize artworks allegedly stolen by Nazis

NEW YORK: US authorities seized three artworks allegedly looted by the Nazis and which are being sought by the heirs...

Published 15 Sep, 2023 05:18pm

Stocks

Sri Lankan shares end lower on consumer staples drag; economy contracts in Q2

CSE All Share index settled down 0.58% at 11,465.73

Published 15 Sep, 2023 05:14pm

Money & Banking

ECB policymakers push back on rate cut expectations

SANTIAGO DE COMPOSTELA: The European Central Bank will keep interest rates high for an extended period and could...

Published 15 Sep, 2023 05:11pm

Companies

Toyota expects record 2023 sales in India helped by Suzuki ties

NEW DELHI: Toyota Motor Corp is on track for record annual sales in India, a senior executive told Reuters, as its...

Published 15 Sep, 2023 05:06pm

Energy

Global LNG: Asian spot prices inch up as market eyes Australia strikes, Freeport

LONDON: Asian spot liquefied natural gas (LNG) prices inched up this week amid supply concerns as workers at...

Published 15 Sep, 2023 05:02pm

Europe

Ukraine’s Zelenskiy to visit US Congress next week: reports

WASHINGTON: Volodymyr Zelenskiy will visit the U.S. Congress next week, according to media reports, after a U.S....

Published 15 Sep, 2023 04:58pm

South Asia

Sri Lanka’s economy shrank 3.1% in Q2 amid financial crisis

COLOMBO: Sri Lanka’s economy shrank 3.1% in the April-June quarter, official data showed on Friday, as the country...

Published 15 Sep, 2023 04:50pm

Stocks

Indian shares extend record rally; Sensex logs longest winning run in 16 years

BENGALURU: Indian shares settled at record highs on Friday, helped by the Bajaj Auto-led surge in auto stocks, while...

Published 15 Sep, 2023 04:38pm

Commodities

Copper up on positive China industrial data

LONDON : Copper prices rose in London on Friday and were on track for their biggest weekly growth since late July...

Published 15 Sep, 2023 04:34pm

Commodities

Palm logs second weekly drop weighed by higher inventory

JAKARTA: Malaysian palm oil futures posted a second straight weekly drop, despite rising on Friday in a session...

Published 15 Sep, 2023 04:32pm

Pakistan

Main Afghanistan-Pakistan border crossing reopens after nine-day closure

PESHAWAR: The main Afghanistan-Pakistan land border crossing reopened on Friday after a nine-day closure, a senior...

Updated 15 Sep, 2023 04:30pm

Stocks

European stock markets extend rally at open

LONDON: European stock markets rallied further at the start of trading Friday, as investors expect central banks on...

Published 15 Sep, 2023 03:40pm

Pakistan

Judicial complex vandalism case: Parvez Elahi gets bail

ATC directs him to submit surety bond worth Rs 20,000

Updated 15 Sep, 2023 03:05pm

Technology

Apple to update iPhone 12 in France over radiation

PARIS: Apple will update the iPhone 12 in France after regulators raised concerns over electromagnetic radiation...

Published 15 Sep, 2023 02:33pm

Europe

Russian soldier gets 13 years in penal colony for desertion

MOSCOW: Russia on Friday sentenced a soldier to 13 years in a “maximum security” penal colony for deserting his unit...

Published 15 Sep, 2023 02:09pm

Travel

Venice avoids being added to UNESCO list of endangered sites

ROME: A UNESCO committee has decided not to add Venice to the organisation’s World Heritage List in Danger,...

Published 15 Sep, 2023 01:18pm

Stocks

Hong Kong stocks rise at the bell

HONG KONG: Hong Kong stocks extended the previous day’s gains at the open Friday, tracking a rally on Wall Street,...

Published 15 Sep, 2023 12:25pm

Asia

China’s Xi meets Cambodian PM Hun Manet in Beijing

BEIJING: President Xi Jinping met Cambodian Prime Minister Hun Manet in Beijing on Friday, Chinese state media...

Published 15 Sep, 2023 12:22pm

Sports

Former Australia cricketer MacGill charged with drug supply

SYDNEY: Former Australian Test cricket star Stuart MacGill has been arrested and charged for his alleged role in a...

Published 15 Sep, 2023 12:19pm

Africa

UN launches $71 million urgent appeal for Libya flood victims

GENEVA: The United Nations is urgently seeking more than $71 million to assist those most in need after deadly flash...

Published 15 Sep, 2023 12:12pm

Sports

Qualifier Navarro stuns Sakkari to reach San Diego semi-finals

LOS ANGELES: Qualifier Emma Navarro of the United States upset world number nine Maria Sakkari of Greece, winning in...

Published 15 Sep, 2023 12:09pm

Asia

Japan’s Kishida willing to meet North Korea’s Kim

TOKYO: Japanese Prime Minister Fumio Kishida is willing to meet North Korea’s Kim Jong Un “without preconditions”, a...

Published 15 Sep, 2023 12:07pm

Africa

Libya’s flood-ravaged Derna in grisly hunt for thousands still missing

DERNA: Emergency teams on Friday kept up their search for the thousands still posted as missing from the...

Published 15 Sep, 2023 12:06pm

Stocks

Tokyo markets end higher

TOKYO: Tokyo stocks ended higher on Friday, extending rallies on Wall Street where traders digested strong retail...

Updated 15 Sep, 2023 11:56am

Business & Finance

China’s monthly air passenger numbers hit record high in August

BEIJING: China’s aviation regulator said on Friday that air passenger numbers in August rose 98.0% from a year...

Published 15 Sep, 2023 11:48am

Commodities

Palm rises for third session on rival oils strength; set for weekly drop

JAKARTA: Malaysian palm oil futures rose for a third straight session on Friday, underpinned by strength in rival...

Published 15 Sep, 2023 11:44am

Energy

France’s Total in talks to invest in Adani Green’s projects

French oil major TotalEnergies is in talks to invest in renewable energy projects developed by India’s Adani Green...

Published 15 Sep, 2023 11:39am

Commodities

Copper edges up on China data but firmer dollar caps gains

Copper prices were firmer in Asian trade on Friday, on track for weekly gains, as top metals consumer China boosted...

Published 15 Sep, 2023 11:25am

Forex

China’s yuan hits 2-week high on upbeat data but downward pressure remains

SHANGHAI: China’s yuan climbed to its strongest in two weeks against the dollar on Friday amid signs of government...

Published 15 Sep, 2023 11:21am

Mutual Funds

India bond yields edge higher ahead of fresh supply

MUMBAI: Indian government bond yields rose marginally in early session on Friday, after easing over the last two...

Published 15 Sep, 2023 11:19am

Europe

Ukraine troops capture eastern village of Andriivka, military says

Ukrainian troops have captured a village near the eastern Russian-held city of Bakhmut, military authorities said on...

Published 15 Sep, 2023 11:10am

Business & Finance

US auto workers launch first simultaneous strike at Detroit Three

DETROIT: The United Auto Workers union launched simultaneous strikes at three factories owned by General Motors,...

Published 15 Sep, 2023 11:01am

Stocks

China stocks, yuan rise on better-than-expected economic data, RRR cut

SHANGHAI: China stocks rose slightly on Friday after data showed parts of the economy were regaining some momentum,...

Published 15 Sep, 2023 10:55am

Asia

China to manage monkeypox as disease on par with COVID-19

BEIJING: China plans to manage monkeypox in the same way it handles infectious diseases such as COVID-19 starting...

Updated 15 Sep, 2023 10:52am

Forex

Australia, NZ dollars head for biggest weekly gains in two months

SYDNEY: The Australian and New Zealand dollars are headed for their biggest weekly gains in two months, as improving...

Published 15 Sep, 2023 10:45am

Companies

India’s Infosys signs $1.5bn contract to leverage AI solutions

BENGALURU: India’s second-largest software services exporter Infosys said it signed a $1.5 billion contract for a...

Published 15 Sep, 2023 10:42am

Technology

WhatsApp denies report that the platform is exploring ads

WhatsApp’s top head on Friday denied a Financial Times report that said the Meta Platforms owned messaging platform...

Published 15 Sep, 2023 10:39am

Sports

Arsenal sign Matildas’ Cooney-Cross from Hammarby

Arsenal have signed Matildas midfielder Kyra Cooney-Cross from Swedish club Hammarby, the Women’s Super League (WSL)...

Published 15 Sep, 2023 10:35am

Sports

PSG give Lee green light to join South Korea Asian Games squad

Paris St Germain (PSG) have agreed to let midfielder Lee Kang-in join up with South Korea’s Asian Games squad during...

Published 15 Sep, 2023 10:30am

Sports

Injured Naseem doubtful for Pakistan’s early World Cup matches

COLOMBO: Pakistan speedster Naseem Shah could miss their early Cricket World Cup matches in India next month having...

Published 15 Sep, 2023 10:27am

Technology

Uber in delivery deal with restaurant software provider Deliverect

AMSTERDAM: Uber Technologies said on Friday it has agreed a delivery partnership with Deliverect, a Belgium-based...

Published 15 Sep, 2023 10:21am

Business & Finance

Indonesia Aug trade surplus spikes to twice forecast as imports sink

JAKARTA: Indonesia’s trade surplus soared to twice the forecast amount in August as imports such as raw materials...

Published 15 Sep, 2023 10:18am

Bullion Rate

Gold rises after China data boosts yuan against dollar

Gold prices gained on Friday as the dollar eased against the yuan after promising China economic data boosted...

Published 15 Sep, 2023 10:14am

Energy

Qatar Energy raises Nov al-Shaheen oil term price to highest this year

Qatar Energy hiked the price for term cargoes of al-Shaheen crude oil loading in November to the highest in 2023,...

Published 15 Sep, 2023 10:12am

Summary seeking up to 50pc raise in gas sale prices re-submitted

Interim Minister for Energy, Muhammad Ali says increase in gas rates ahead of winter was inevitable to contain the gas-sector circular debt

Updated 15 Sep, 2023 10:07am

Commodities

India tightens wheat stocks limits, no plan to axe import tax

NEW DELHI: India will reduce the limit on the amount of wheat stocks that traders and millers can hold but it has no...

Published 15 Sep, 2023 10:05am

Commodities

China aluminium output hits record-monthly high in August

BEIJING: China’s primary aluminium output in August rose by 3.1% from a year prior to an all-time monthly high, data...

Published 15 Sep, 2023 10:01am

Forex

Surging oil prices, dollar to test RBI resolve on rupee

MUMBAI: The Indian rupee is likely to open weaker on Friday after oil prices and the dollar index climbed to...

Published 15 Sep, 2023 09:58am

NPCs: Rate of return again revised upward to attract more investment

KARACHI: The federal government has revised the rate of return on the conventional Naya Pakistan Certificates (NPCs)...

Updated 15 Sep, 2023 09:56am

Real Estate

China’s property slump worsens, clouding recovery prospects

BEIJING: A slump in China’s property sector worsened in August, with deepening falls in new home prices, property...

Published 15 Sep, 2023 09:56am

RfP for solar PV project: PPIB seeks revision in indexation, adjustment formula

ISLAMABAD: The Private Power Infrastructure Board (PPIB) has sought revision in indexation/adjustment formula,...

Updated 15 Sep, 2023 09:53am

PIA privatisation: PM directs minister to oversee process

ISLAMABAD: Caretaker Prime Minister Anwaarul Haq Kakar directed all relevant stakeholders to find an immediate...

Updated 15 Sep, 2023 09:53am

In a surprise move, policy rate kept unchanged

KARACHI: As against the market expectations, the Monetary Policy Committee (MPC) of the State Bank of Pakistan has...

Updated 15 Sep, 2023 09:51am

Award of ‘dubious’ contract to German firm: Senate panel accuses World Bank official and power secretary of ‘conniving’ with NTDC

ISLAMABAD: The Senate Standing Committee on Power on Thursday accused Country Director World Bank, Najy Benhassine,...

Updated 15 Sep, 2023 09:50am

Stocks

Australian shares rise 1.5% in broad-based buying, miners top gainers

Australian shares jumped on Friday in broad-based buying, with mining stocks leading the gains, as investors looked...

Published 15 Sep, 2023 09:49am

Asia

North Korean leader heads for aviation plant in Russian Far East town

North Korean leader Kim Jong Un arrived in the town of Komsomolsk-on-Amur in Russia’s Far East on Friday and headed...

Published 15 Sep, 2023 09:41am

Stocks

Asia stocks rally as China data buoys mood; dollar stays strong

TOKYO: Asian stocks rose strongly on Friday, extending a global equity rally, after better-than-expected Chinese...

Published 15 Sep, 2023 09:38am

Forex

Dollar holds steady, yuan rises on better-than-expected China data

TOKYO: The dollar held steady in Asia on Friday, edging off slightly from overnight gains against peers, as the yuan...

Published 15 Sep, 2023 09:32am

Stocks

Indian shares hit fresh record highs on strong China data, US rate pause hopes

BENGALURU: India’s benchmarks hit new record highs for the second consecutive session on Friday, tracking Asian...

Published 15 Sep, 2023 09:28am

Commodities

Wheat futures climb but Russian supply bonanza caps gains

CANBERRA: Chicago wheat futures climbed higher on Friday after Canada’s production forecast was upgraded by a...

Published 15 Sep, 2023 09:26am

Pakistan expresses its concerns over misuse of ATT

ISLAMABAD: Pakistan, on Thursday, expressed concerns over the “misuse” of the Afghan-Pakistan Transit Trade...

Updated 15 Sep, 2023 09:14am

BR Research

A surprising status quo!

The SBP is full of surprises. Inflation has inched up to 30 percent in September; the currency market is hovering...

Published 15 Sep, 2023 08:59am

BR Research

HUBC – earnings soar

Hub Power Company Limited (PSX: HUBC) announced a massive increase in consolidated earnings with highest ever profit...

Published 15 Sep, 2023 08:56am

Business & Finance

Cotton: APTMA says supports emergency spray operations

ISLAMABAD: APTMA has taken immediate action to support emergency spray operations in collaboration with the...

Updated 15 Sep, 2023 08:53am

Broadening tax base: IT ministry to lend a helping hand to FBR

ISLAMABAD: The Ministry of IT and Telecommunication would fully assist the Federal Board of Revenue (FBR) in...

Updated 15 Sep, 2023 08:53am

Pakistan

From 18-23 Sept: PM to join debate at UNGA: FO

ISLAMABAD: Caretaker Prime Minister Anwaar ul Haq Kakar will participate in the high-level debate of the 78th...

Updated 15 Sep, 2023 08:51am

BR Research

Shabbir Tiles & Ceramics Limited

Shabbir Tiles & Ceramics Limited (PSX: STCL) was incorporated in Pakistan as a public limited company in 1978....

Published 15 Sep, 2023 08:51am

BR’s refresher: your morning briefing for the day

Important updates from September 14, 2023

Published 15 Sep, 2023 08:48am

24 spot cargoes: PLL seeks exemption from PPRA conditions

ISLAMABAD: Pakistan LNG Ltd (PLL) has sought exemption from applicability of PPRA conditions to procure ...

Updated 15 Sep, 2023 08:07am

Opinion

Pakistan’s uphill battle: navigating the complexities of climate change

As the world clamours for unified action to combat the ever-pressing specter of climate change, Pakistan stands at a...

Updated 15 Sep, 2023 07:33am

Opinion

Unwarranted austerity policy

As another monetary policy statement is about to be released, as the writer contributes this article, it is time to...

Updated 15 Sep, 2023 07:25am

Opinion

Eccentric currency market reforms

September 2023 holds some significant importance for Pakistan, marked by a series of notable events. In the first...

Updated 15 Sep, 2023 07:21am

Commodities

Asia coffee: Trading activity dull ahead of Vietnam’s new harvest

HANOI/BANDAR LAMPUNG: Vietnam coffee prices edged up slightly amid sluggish trade ahead of the new harvest that...

Published 15 Sep, 2023 07:10am

Grains

Strategie Grains cuts EU soft wheat export forecast

PARIS: Consultancy Strategie Grains has made a sharp cut to its forecast for European Union soft wheat exports,...

Published 15 Sep, 2023 07:09am

Cotton & Textile

Sizeable business on cotton market

LAHORE: The local cotton market on Thursday remained steady and the trading volume remained satisfactory. Cotton...

Published 15 Sep, 2023 07:06am

Cotton & Textile

Cotton spot rates

KARACHI: official KCA spot rates for local dealings in Pakistan rupees on Thursday (September 14, 2023)...

Published 15 Sep, 2023 07:03am

Rates

Activities of Karachi Port and Port Qasim

KARACHI: The Karachi Port Trust handled 116,290 tonnes of cargo comprising 85,918 tonnes of import cargo and 30,372...

Published 15 Sep, 2023 07:02am

Grains

Asia rice: India export duty stifles activity, prices ease in other hubs

MUMBAI/HANOI/BANGKOK/BANGLADESH: A tax on parboiled rice exports crippled activity in India this week, while...

Published 15 Sep, 2023 07:01am

Grains

Sugar output in India’s Maharashtra set to fall to lowest

MUMBAI: Sugar output in Maharashtra, India’s top producing state, is likely to fall 14% in the 2023/24 crop year ...

Published 15 Sep, 2023 06:59am

Commodities

PMEX daily trading report

KARACHI: On Wednesday at PMEX the traded value of Metals, Energy, COTS/FX and indices was recorded at PKR 19.095...

Published 15 Sep, 2023 06:57am

Cotton & Textile

Australian cotton piles up in China warehouses

SYDNEY/BEIJING: Buyers including a state-owned Chinese company are stockpiling Australian cotton in Chinese...

Published 15 Sep, 2023 06:56am

Commodities

Iron ore price rallies on China fundamentals, but cap looms

LAUNCESTON, (Australia): The spot price of iron ore has climbed to a five-month high amid improving sentiment and...

Published 15 Sep, 2023 06:55am

World

Biden’s son Hunter indicted on gun charges

WASHINGTON: US President Joe Biden’s son Hunter was indicted Thursday for illegally buying a gun when he was using...