News Archives for Latest - 2023-09-18

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Archive - 2023-09-18

Pakistan

Foreign Office refutes report of arms sale to Ukraine

FO says Islamabad maintains a policy of strict neutrality in the dispute between Ukraine and Russia

Updated 18 Sep, 2023 11:14pm

Europe

Pope 'talks Ukraine peace' with new Russian envoy

VATICAN CITY: Pope Francis met on Monday with the new Russian ambassador to the Vatican, who said they discussed the...

Published 18 Sep, 2023 10:46pm

USA

'Premature' to predict hit from US auto strike: Yellen

WASHINGTON: US Treasury Secretary Janet Yellen said Monday it is too early to gauge the economic impact from an...

Published 18 Sep, 2023 10:39pm

World

Blinken says he spoke by phone to Americans freed in Iran

NEW YORK: US Secretary of State Antony Blinken said Monday that he spoke to five US citizens freed from Iran after...

Published 18 Sep, 2023 10:33pm

Europe

Ukraine says filed lawsuit against EU neighbours over grain import ban

KYIV: Kyiv on Monday said it had filed lawsuits at the World Trade Organisation (WTO) against its three EU ...

Published 18 Sep, 2023 10:23pm

Pakistan

Will talk about 'alliances' once election date is announced: Bilawal

Former foreign minister demands that the ECP release the election timetable and date

Published 18 Sep, 2023 09:52pm

Stocks

Wall St gains in choppy trading ahead of Fed rate verdict

Wall Street’s main indexes rose on Monday in choppy trading as energy stocks tracked higher crude oil prices, while ...

Published 18 Sep, 2023 09:24pm

Commodities

As probe continues, gold market remains closed for 5th session

Price of 24-carat gold in Pakistan had settled at Rs215,000 per tola on Tuesday last week

Published 18 Sep, 2023 08:45pm

Pakistan

Supreme Court adjourns Practice and Procedure Act 2023 hearing until October 3

Justice Qazi Faez Isa, newly appointed Chief Justice of Pakistan, presides over the hearing
The court directs the parties’ lawyers to submit their written arguments by Sept 25

Updated 18 Sep, 2023 07:51pm

Money & Banking

MCB Bank joins UBL and Meezan, says it will establish wholly-owned Exchange Company

The Board of Directors (BoD) of MCB Bank Limited, one of the largest commercial banks in the country, announced it...

Updated 18 Sep, 2023 07:49pm

Stocks

KSE-100 edges higher as direction-less trading continues

The Pakistan Stock Exchange (PSX) benchmark KSE-100 Index closed slightly higher on Monday in a dull session, as...

Published 18 Sep, 2023 07:39pm

Forex

9th consecutive gain: rupee settles at 295.95 against US dollar

Appreciates 0.3% in inter-bank market on Monday

Updated 18 Sep, 2023 07:41pm

Pakistan

ECP plans to publish preliminary delimitations by Sept 27

Election watchdog directs delimitation committee to complete work by Sept 26

Updated 18 Sep, 2023 07:26pm

USA

Blinken to meet China VP in latest high-level contact

UNITED NATIONS: US Secretary of State Antony Blinken will meet Monday with China’s vice president, the latest...

Published 18 Sep, 2023 07:26pm

Cricket

Bangladeshi bowler under fire over misogynist remarks

DHAKA: A Bangladeshi cricketer was embroiled in controversy Monday over misogynistic social media posts condemning...

Published 18 Sep, 2023 07:20pm

Europe

Four killed in Russian attacks on Ukraine

KYIV: Russia carried out new air strikes and shelling in Ukraine overnight and early on Monday, killing at least...

Published 18 Sep, 2023 07:08pm

Energy

Will oil hit $100? It already did in some markets

Oil has risen to its highest level of 2023 as investors are focused on the prospect of a supply deficit in the fourth quarter after Saudi Arabia and Russia extended supply cuts

Published 18 Sep, 2023 07:05pm

Stocks

Middle Eastern stocks mixed amid growth jitters

Stock exchanges in Middle East were mixed on Monday, as growth concerns weighed on investor sentiment ahead of a...

Published 18 Sep, 2023 07:01pm

Energy

Going green: Lucky Cement says it will install 37.6MW renewable energy projects

In its bid to reduce reliance on imported fuel, Lucky Cement, one of Pakistan’s largest cement manufacturers,...

Updated 18 Sep, 2023 06:31pm

Forex

Open-market: rupee closes unchanged against US dollar

Rupee quoted at 297 for selling and 294 for buying purposes

Updated 18 Sep, 2023 06:30pm

Middle East

Tesla, Saudi Arabia in early talks for EV factory: WSJ

Saudi Arabia is in early talks with U.S. electric automaker Tesla to set up a manufacturing facility in the kingdom,...

Published 18 Sep, 2023 05:43pm

Money & Banking

India central bank says stabilising core inflation shows easing price pressures

MUMBAI: The Indian central bank sees stabilising core inflation, which excludes food and fuel prices, as a sign of...

Published 18 Sep, 2023 05:37pm

Stocks

Sri Lankan shares end lower as industrials, financials weigh

CSE All Share index settled down 0.89% at 11,363.64

Published 18 Sep, 2023 05:33pm

Europe

Moscow fires cruise missiles in sea drills between Russia and Alaska

Russia fired cruise missiles at mock targets in the seas separating it from Alaska on Monday in what it said was an...

Published 18 Sep, 2023 05:30pm

Energy

Oil prices continue to rally on tight supply

LONDON: Global oil benchmark Brent crude hovered above $94 a barrel on Monday, with investors focused on the...

Updated 18 Sep, 2023 04:58pm

Stocks

India’s Sensex snaps 11-session winning streak; Fed decision eyed

India’s blue-chip stock indexes eased from record highs on Monday, with the Sensex ending a 11-session winning...

Published 18 Sep, 2023 04:54pm

Commodities

China demand angst, LME inventories weigh on copper

LONDON: Copper was supported on Monday by expectations that the global interest rate tightening cycle is close to...

Published 18 Sep, 2023 04:51pm

Commodities

Palm falls tracking Dalian losses, weaker CBOT soybean oil

JAKARTA: Malaysian palm oil futures closed lower on Monday after three consecutive sessions of gains, weighed down...

Published 18 Sep, 2023 04:48pm

Movies & Music

Having young fans is ‘alarming and exciting’: Kylie Minogue

PARIS: A viral TikTok hit this summer means Kylie Minogue has added another cohort to her multi-generational fan...

Updated 18 Sep, 2023 04:10pm

Cotton & Textile

Cotton arrival surges 29.3% in first two weeks of Sept: PCGA

Total cotton arrival rose to 3.933 million bales

Updated 18 Sep, 2023 03:55pm

Exchange

Pakistan’s REER index down 1.6% MoM in August, now stands at 90.1

Pakistan’s Real Effective Exchange Rate (REER), a measure of the value of a currency against a weighted average of...

Updated 18 Sep, 2023 03:13pm

Real Estate

IMARAT’s Vision 2047 showcased globally

With 70% of overseas Pakistanis channeling their remittances into the property and contributing $12billion annually,...

Published 18 Sep, 2023 03:10pm

Stocks

European stock markets drop at open

LONDON: European stock markets slipped at the start of trading on Monday as traders looked ahead to interest-rate...

Published 18 Sep, 2023 02:53pm

Sports

India celebrates World Cup ‘booster shot’ after Sri Lanka ‘battered’

NEW DELHI: India celebrated the 10-wicket thrashing of Sri Lanka in the Asia Cup final as “a booster shot” Monday...

Published 18 Sep, 2023 02:52pm

Europe

Earthquake hits central Italy but no immediate damage

ROME: A 4.8-magnitude earthquake struck central Italy north of Florence on Monday morning, sending residents into...

Published 18 Sep, 2023 02:14pm

Europe

French interior minister to talk migration in Rome Monday

PARIS: French Interior Minister Gerald Darmanin said he would visit Rome on Monday to discuss migration, after a...

Published 18 Sep, 2023 02:12pm

Asia

China hits out at German FM’s ‘dictator’ Xi comment

BEIJING: China lashed out against German Foreign Minister Annalena Baerbock on Monday for calling President Xi...

Published 18 Sep, 2023 02:08pm

South Asia

Iran says hopes US prisoner swap will go ahead Monday

TEHRAN: Iran voiced hope Monday that a prisoner swap with the United States would take place later in the day, once...

Published 18 Sep, 2023 02:03pm

Movies & Music

Chance encounter transforms girl from Mumbai slum into teenage model, internet influencer

MUMBAI: Three years ago an inquisitive American tourist wandered into a waterfront slum in Mumbai and met a tiny,...

Published 18 Sep, 2023 01:10pm

Technology

Alibaba tells Erdogan it plans to invest $2 billion in Turkiye

ISTANBUL: Chinese e-commerce giant Alibaba Group Holding Ltd has told Turkiye President Tayyip Erdogan it plans to...

Published 18 Sep, 2023 12:28pm

Commodities

Malaysia to discuss rice export curbs with India

KUALA LUMPUR: Malaysia will talk to the Indian government to find a “best solution” over the South Asian country’s...

Published 18 Sep, 2023 12:18pm

Financial

SocGen’s new boss vows to cut costs to boost profits by 2026

LONDON: Societe Generale’s new CEO pledged on Monday to cut costs to boost profits by 2026, in a keenly-awaited plan...

Published 18 Sep, 2023 12:16pm

USA

UN meet looks to salvage promises on helping world’s poorest

UNITED NATIONS: World leaders meet Monday at the United Nations in a bid to salvage ambitious promises to lift the...

Published 18 Sep, 2023 12:07pm

Stocks

Hong Kong stocks retreat at open

HONG KONG: Hong Kong stocks fell at the open Monday following a hefty sell-off on Wall Street, with traders looking...

Published 18 Sep, 2023 12:00pm

Europe

King Charles III heads to France for state visit

LONDON: Charles III finally makes it across the Channel from Britain to France this week, six months after rioting...

Published 18 Sep, 2023 11:52am

Europe

Russia says more Ukrainian drones downed over Crimea

MOSCOW: Russia said it repelled Ukrainian drone attacks over several parts of Crimea, outer Moscow and two border...

Published 18 Sep, 2023 11:48am

Asia

North Korean leader ends Russia trip with ‘heartfelt thanks’ to Putin

SEOUL: North Korea’s Kim Jong Un expressed his “heartfelt thanks” to President Vladimir Putin, state media said...

Published 18 Sep, 2023 11:40am

Europe

Back from front, Russia’s veterans begin reintegration

ZHUKOVSKY: Alexander Fyodorov has spent most of his life in Russian prisons. During his latest sentence, an...

Published 18 Sep, 2023 11:36am

Travel

7 luxury wedding venues Dubai has to offer as the season approaches

As we await the onslaught of better weather in the region, there is also looming, of course, the impending wedding...

Published 18 Sep, 2023 11:22am

Europe

Ukraine recaptures village near Bakhmut: Zelenskiy

KYIV: President Volodymyr Zelenskiy said on Sunday his forces had recaptured an eastern village on the southern...

Published 18 Sep, 2023 11:23am

Business & Finance

Singapore’s non-oil exports fall for a 11th month in August

SINGAPORE: Singapore’s annual exports fell for an 11th straight month in August as the trade-reliant economy...

Published 18 Sep, 2023 11:17am

Commodities

Malaysia says China to increase imports of Malaysian palm oil

KUALA LUMPUR: China will increase its imports of Malaysian palm oil by 250,000 metric tons a year, state news agency...

Published 18 Sep, 2023 11:12am

Forex

India rupee to rise despite higher oil prices, widening trade deficit

MUMBAI: The Indian rupee is expected to open slightly higher on Monday with expectations around intervention by the...

Published 18 Sep, 2023 10:33am

Bullion Rate

Gold prices edge up ahead of likely Fed rate pause

Gold prices edged higher on Monday as investors priced in a pause in interest rate hikes by the Federal Reserve at...

Published 18 Sep, 2023 10:31am

Future of Discos: Govt advised to take stakeholders into confidence

Annual financial loss of Discos is around Rs 600 billion on account of losses and under recovery

Updated 18 Sep, 2023 10:29am

Sports

Pochettino understands Chelsea fans’ frustrations after poor start

Mauricio Pochettino understands Chelsea fans’ frustrations with their poor start to the season but says his side...

Published 18 Sep, 2023 10:29am

Commodities

Palm tracks rival oils lower

JAKARTA: Malaysian palm oil futures opened lower on Monday after three consecutive sessions of gains, weighed down...

Published 18 Sep, 2023 10:26am

System errors in filing income tax returns, wealth statements irk taxpayers

ISLAMABAD: Taxpayers are facing different problems including technical issues/ errors in timely filing of income tax...

Updated 18 Sep, 2023 10:26am

Rice exports likely to touch $3bn mark this fiscal year

KARACHI: With a bumper rice crop and ban on rice export by India, there are new export opportunities for Pakistani...

Updated 18 Sep, 2023 10:25am

Forex

Corn firms but ample global supplies keep prices near lowest since 2020

SINGAPORE: Chicago corn futures firmed on Monday, although an upgrade to European production forecasts and supplies...

Published 18 Sep, 2023 10:23am

Forex

China’s yuan retreats from two-week high, strong guidance limits losses

SHANGHAI: China’s yuan retreated from a two-week high against the dollar on Monday, pressured by corporate demand...

Published 18 Sep, 2023 10:20am

Sports

Ashwin still in mix for India’s World Cup squad, says Rohit

NEW DELHI: Veteran off-spinner Ravichandran Ashwin is still very much in the running to be part of India’s World Cup...

Published 18 Sep, 2023 10:18am

Sports

Atletico’s Lemar to undergo surgery on ruptured Achilles tendon

Atletico Madrid midfielder Thomas Lemar will undergo surgery after rupturing his right Achilles tendon during...

Published 18 Sep, 2023 10:13am

Mutual Funds

India bond yields move up as oil, US peers stay elevated

MUMBAI: Indian government bond yields started the week higher, tracking elevated US Treasury yields and oil prices,...

Published 18 Sep, 2023 10:09am

Forex

Australia, NZ dollars calm ahead of central bank moves this week

SYDNEY: The Australian and New Zealand dollars were calm on Monday ahead of a slew of central bank rate decisions...

Published 18 Sep, 2023 10:05am

Asia

China’s Wang Yi visits Russia ahead of possible Xi-Putin meeting

BEIJING: China’s top diplomat, Wang Yi, begins on Monday a four-day trip to Russia during which both nations are...

Published 18 Sep, 2023 10:02am

Forex

Asian currencies subdued ahead of a slew of central bank meetings

Asian currencies were subdued on Monday in a week packed with central bank meetings in Indonesia and the Philippines...

Published 18 Sep, 2023 09:56am

Stocks

Australian shares fall as financial, energy stocks drag; RBA minutes in focus

Australian shares retreated on Monday, weighed down by losses in financial and energy stocks, as investors awaited...

Published 18 Sep, 2023 09:51am

World

Erdogan asks Musk to build Tesla factory in Turkiye

Turkiye President Recep Tayyip Erdogan asked Tesla CEO Elon Musk to build a Tesla factory in Turkiye, Anadolu Agency...

Published 18 Sep, 2023 09:48am

CPEC power plants: Sinosure demands govt make payments

ISLAMABAD: China Export & Credit Insurance Corporation (Sinosure) has warned the GoP on not honouring its...

Updated 18 Sep, 2023 09:45am

Forex

Japan’s yen in spotlight ahead of ‘live’ BOJ meeting

SINGAPORE: The US dollar and most major currencies were flatlining in early trades on Monday, barring a blip in...

Published 18 Sep, 2023 09:43am

Stocks

Indian shares set for cautious start; all eyes on Fed meeting

BENGALURU: Indian shares are set to begin a holiday-truncated week on a cautious note as investors digested economic...

Published 18 Sep, 2023 09:39am

Stocks

China Evergrande shares tumble 25% after wealth management staff detained

HONG KONG: Shares of embattled developer China Evergrande Group plunged 25% on Monday after police detained some...

Published 18 Sep, 2023 09:37am

Stocks

Asian shares stumble as investors brace for central bank packed week

SYDNEY: Asian shares fell and the dollar was firm on Monday as investors looked ahead to a week packed with central...

Published 18 Sep, 2023 09:35am

Energy

KP produces 31,000 barrels of crude oil per day

PESHAWAR: Out of the total 71,000 barrels of the national crude oil production per day Khyber Pakhtunkhwa is...

Updated 18 Sep, 2023 09:25am

Justice Isa takes oath as CJP amid slew of challenges

ISLAMABAD: Justice Qazi Faez Isa on Sunday took oath as the 29th chief justice of Pakistan, a day after his...

Updated 18 Sep, 2023 09:25am

Financial account not positive enough to cancel out rise in CAD: economist

ISLAMABAD: Pakistan’s financial account has not been positive enough to cancel out the increase in current account...

Updated 18 Sep, 2023 09:24am

BR Research

Current account roundup: Aug 2023

The current account is coming back to manageable levels in August – departure from a sudden spike in the last month....

Published 18 Sep, 2023 08:58am

Law of precedent: Lower fora bound to follow decision of higher appellate, admits FBR

ISLAMABAD: Member Legal (Inland Revenue) Federal Board of Revenue (FBR) admitted before Federal Tax Ombudsman (FTO)...

Updated 18 Sep, 2023 08:56am

BR Research

Petroleum price: dollar at the core

Petrol and diesel both soared to new highs last Saturday. It appears that years of messaging is finally starting to...

Published 18 Sep, 2023 08:52am

BR Research

Agriauto Industries Limited

Agriauto Industries Limited (PSX: AGIL) was incorporated in Pakistan as a public limited company in 1981. The...

Published 18 Sep, 2023 08:50am

Technology

Auction for 5G spectrum may take more time than expected

ISLAMABAD: The caretaker government has little in hand with respect to fiscal and policy interventions to oblige...

Updated 18 Sep, 2023 08:48am

EU likely to extend GSP facility for another four years

ISLAMABAD: The European Union (EU) is likely to extend existing Pakistan’s GSP (Generalized System of Preferences)...

Updated 18 Sep, 2023 08:46am

BR’s refresher: your morning briefing for the day

Important updates from September 16 and September 17, 2023

Published 18 Sep, 2023 08:43am

New CJP forms full court to hear pleas against SC Act

ISLAMABAD: In his first act as the new Chief Justice of Pakistan following the oath-taking ceremony, Justice Isa on...

Updated 18 Sep, 2023 08:43am

Companies

Huawei says it has reached global patent licensing deal with Xiaomi

BEIJING: China’s Huawei Technologies inked on Wednesday a global patent cross-licensing deal with Xiaomi Inc,...

Updated 18 Sep, 2023 07:45am

Companies

Qualcomm to supply Apple with 5G chips until 2026

SAN FRANCISCO: Qualcomm on Monday said it had signed a new deal with Apple to supply 5G chips to the iPhone maker...

Updated 18 Sep, 2023 07:44am

Opinion

Administrative crackdown: will it work?

The State’s crackdown against the smugglers and illegal currency traders has met with initial success. The fear...

Updated 18 Sep, 2023 07:40am

Opinion

Private savings, govt dissaving: debt

Savings by an individual/householder or a government have different objectives and constraints and while a healthy...

Updated 18 Sep, 2023 07:33am

Europe

EU parliament backs plans to secure raw materials supply

STRASBOURG (France): The European Parliament approved plans to secure the EU its own supply of critical raw ...

Published 18 Sep, 2023 07:25am

Africa

Central Khartoum in flames as war rages across Sudan

WAD MADANI (Sudan): Flames gripped the Sudanese capital Sunday and paramilitary forces attacked the army ...

Published 18 Sep, 2023 07:23am

World

N Korea’s Kim Jong Un wraps up Russia trip

MOSCOW: North Korean leader Kim Jong Un left Russia on Sunday, ending a visit affirming close ties with Vladimir...

Published 18 Sep, 2023 07:19am

World

One week after Libya flood, aid arrives for survivors

DERNA (Libya): A week after a wall of water devastated the Libyan coastal city of Derna, sweeping thousands to their...

Published 18 Sep, 2023 07:17am

Opinion

Moving from failure to failure successfully?

Winston Churchill said, ‘Success is the ability to go from one failure to another with no loss of enthusiasm’....

Published 18 Sep, 2023 07:14am

Opinion

The immigration scene

Economic recession has hit a number of countries in the world and this has led to an increase in immigration from ...

Published 18 Sep, 2023 07:00am

Letters

Justice Isa has deservedly reached the peak of his career

Soon after taking oath as the 29th chief justice of Pakistan yesterday, ‘maverick’ Justice Qazi Faez Isa has...

Published 18 Sep, 2023 06:53am

Editorials

‘Greatest threat’!

EDITORIAL: Given recent statements from the military, the Mastung attack must bring retribution for TTP...

Published 18 Sep, 2023 06:51am

Technology

Technology fundamentally has shaped geopolitics, economics for a long time: Anne Neuberger

WASHINGTON: Anne Neuberger, Deputy National Security Advisor for Cyber and Emerging Technology at the National...