News Archives for Latest - 2023-09-20

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Archive - 2023-09-20

USA

Fed leaves rates unchanged, sees tighter policy through 2024

Financial markets had widely expected that the Fed would leave rates unchanged

Updated 20 Sep, 2023 11:58pm

World

Azerbaijani leader sends Karabakh Armenians and Armenia message of cooperation and peace

Azerbaijani President Ilham Aliyev on Wednesday offered the ethnic Armenians of the breakaway Nagorno-Karabakh ...

Published 20 Sep, 2023 11:05pm

Business & Economy

UAE restricts import of fresh, chilled meat from Pakistan via sea from October 10

Imports via air route, however, will not be affected

Updated 20 Sep, 2023 10:58pm

Stocks

KSE-100 inches down in lacklustre trading

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index closed nearly flat on Wednesday, as investor sentiment...

Updated 20 Sep, 2023 10:58pm

Pakistan

ECP to discuss election code of conduct with political parties on Oct 4

Electoral watchdog says general elections expected to be held in January

Updated 20 Sep, 2023 10:57pm

Business & Economy

Downward revision: ADB sees Pakistan’s GDP growth to ‘recover modestly’ to 1.9% in FY24

Prospects closely tied to steadfast and consistent implementation of policy reforms to stabilise economy and rebuild fiscal, external buffers, it says

Updated 20 Sep, 2023 10:56pm

Europe

'Stop the war' and Zelenskiy won't speak, UN Security Council chair tells Russia

UNITED NATIONS: It was to be Ukrainian President Volodomyr Zelenskiy's first in- person appearance at a U.N....

Published 20 Sep, 2023 10:50pm

Energy

Oil little changed ahead of US Fed rate decision

NEW YORK: Oil prices were little changed on Wednesday ahead of the U.S. Federal Reserve’s interest rate decision,...

Updated 20 Sep, 2023 09:01pm

South Asia

India tells citizens in Canada to exercise caution as relations worsen

NEW DELHI: India on Wednesday urged its nationals in Canada, especially students, to exercise “utmost caution” as...

Published 20 Sep, 2023 08:46pm

Stocks

US stocks rise ahead of Fed interest rate decision

NEW YORK: Wall Street stocks advanced early Wednesday ahead of a Federal Reserve announcement on interest rates,...

Published 20 Sep, 2023 07:47pm

Technology

AI both a risk and opportunity for journalism: study

LONDON: AI is both a threat and an opportunity for journalism, with more than half of those surveyed for a new...

Published 20 Sep, 2023 07:27pm

Movies & Music

Wife of ’That ‘70s Show’ actor seeks divorce after rape sentence

LOS ANGELES: Actress Bijou Phillips filed for divorce from Danny Masterson less than two weeks after the former...

Published 20 Sep, 2023 07:19pm

South Asia

EU releases 140mn in frozen funds for Afghanistan

BRUSSELS: The EU will deliver aid worth 140 million euros ($150 million) to Afghanistan, especially for women and...

Published 20 Sep, 2023 07:18pm

Money & Banking

US Fed likely to pause rate hikes and raise growth forecast

WASHINGTON: Analysts expect the US Federal Reserve to pause interest rate hikes on Wednesday as the central bank...

Published 20 Sep, 2023 07:10pm

Movies & Music

Pakistan fans come down hard on ICC World Cup 2023’s official anthem

The ICC World Cup 2023’s official anthem was released on Wednesday featuring a Bollywood musical-style ensemble led...

Published 20 Sep, 2023 06:59pm

Forex

11th consecutive gain: rupee settles at 293.88 against US dollar

Appreciates 0.35% in inter-bank market on Wednesday

Updated 20 Sep, 2023 06:47pm

Business & Economy

SBP awards in-principle approval to 5 digital retail banks

These include HugoBank Limited, KT Bank Pakistan Limited, Mashreq Bank Pakistan Limited, Raqami Islamic Digital Bank Limited and Telenor Microfinance Bank Limited

Updated 20 Sep, 2023 06:40pm

Stocks

Most Gulf markets in red ahead of Fed’s decision

Most stock markets in the Gulf ended lower on Wednesday ahead of the U.S. Federal Reserve’s interest rate decision,...

Published 20 Sep, 2023 06:39pm

Europe

Poland may expand Ukraine import ban to other products

WARSAW: Poland’s Prime Minister Mateusz Morawiecki on Wednesday cautioned that the EU member would ban additional...

Published 20 Sep, 2023 06:29pm

Companies

TotalEnergies to invest $300mn in JV with Adani Green Energy

BENGALURU: French oil major TotalEnergies will invest $300 million to form a joint venture with Adani Green Energy...

Published 20 Sep, 2023 06:27pm

Movies & Music

Bollywood’s Shah Rukh Khan to make history with two $100mn films in single year

'Jawan' on track to cross coveted figure on Wednesday

Published 20 Sep, 2023 06:10pm

Europe

King Charles greeted in France with pomp, diplomacy on state visit

PARIS: King Charles arrived in France on Wednesday for a three-day state visit, during which he and President...

Published 20 Sep, 2023 06:14pm

Energy

Pakistan’s power generation cost declines nearly 18% in August

Amid rising electricity bills, the cost of power generation in Pakistan registered a significant decline of nearly...

Updated 20 Sep, 2023 06:13pm

Pakistan

Pakistan wants peaceful, cooperative ties with India: FM Jilani

Says Pakistan’s relations with China are not a zero-sum game

Updated 20 Sep, 2023 05:53pm

Forex

Open-market: rupee slips lower against US dollar

Settles at 297 and 294 on Wednesday, according to ECAP data

Updated 20 Sep, 2023 05:51pm

Stocks

Indian stocks drop over 1%, led by HDFC Bank, Reliance

Indian shares fell 1% on Wednesday in their worst day in two months, led by Reliance Industries and HDFC Bank, whose...

Published 20 Sep, 2023 05:30pm

Middle East

Turkiye’s Erdogan meets Israel’s Netanyahu as ties thaw

UNITED NATIONS: Turkiye’s President Recep Tayyip Erdogan met in New York Tuesday with Israeli Prime Minister...

Published 20 Sep, 2023 05:30pm

Stocks

Sri Lanka shares end higher as consumer staples, financials rise

CSE All Share index settled 0.23% up at 11,274.33

Published 20 Sep, 2023 05:28pm

Commodities

Copper rises with improved China demand hopes, weaker dollar

LONDON: Copper prices rose in London on Wednesday with more upbeat demand prospects from top metals consumer China,...

Published 20 Sep, 2023 05:26pm

Commodities

Palm oil closes at one-week low on weaker rival oils

SINGAPORE: Malaysian palm oil futures fell on Wednesday to their lowest closing in one week, weighed by weaker rival...

Published 20 Sep, 2023 05:24pm

Stocks

European stocks advance as Fed looms, UK inflation dips

LONDON: European stocks rose Wednesday on a surprise slowdown in UK inflation and lower oil prices, as traders...

Updated 20 Sep, 2023 05:09pm

Pakistan

India's network of 'extraterritorial killings' has gone global: FO

India’s assassination of a Canadian national on Canadian soil is a clear violation of international law, FO spokesperson says

Published 20 Sep, 2023 05:05pm

Asia

Armenia did not help draft Karabakh ceasefire, says PM

YEREVAN: Armenian Prime Minister Nikol Pashinyan said Wednesday that Yerevan did not take part in drafting a...

Published 20 Sep, 2023 05:05pm

Europe

Putin says hopes for ‘peaceful’ resolution in Karabakh

MOSCOW: Russian President Vladimir Putin said Wednesday he hoped for a “peaceful” resolution to the conflict in...

Published 20 Sep, 2023 05:01pm

Energy

PPL’s profit jumps whopping 79% in FY23

Pakistan Petroleum Limited (PPL), a key supplier of natural gas in the county, saw its profit-after-tax (PAT) jump...

Updated 20 Sep, 2023 04:49pm

Business & Economy

Caretaker commerce minister, SBP governor discuss export enhancement measures

'Met the esteemed governor SBP to discuss ways and means to increase liquidity of our exporters,' said Ejaz

Updated 20 Sep, 2023 04:19pm

USA

Canada, US worked closely on possible India link to Hardeep Singh Nijjar killing

OTTAWA: Canada worked "very closely" with the United States on intelligence that Indian agents had been potentially...

Published 20 Sep, 2023 04:07pm

Companies

Haier revolutionises cooling solutions with launch of solar hybrid air conditioner

Haier is a global leader in home appliances and consumer electronics. With a legacy of innovation and a commitment...

Published 20 Sep, 2023 04:09pm

Financial

Goldman Sachs expects BoE to hold rates on Thursday after lower CPI

LONDON: Goldman Sachs said on Wednesday it now expects the Bank of England to keep interest rates unchanged on...

Published 20 Sep, 2023 03:54pm

Life & Style

Ace cricketer Shaheen weds Shahid Afridi’s daughter Ansha in glitzy ceremony

Couple tied the knot in a Nikkah ceremony earlier this year

Published 20 Sep, 2023 03:30pm

Travel

Tiffany & Co.’s famed Blue Box Café set to open at Dubai Mall

Café to start welcoming guests in October 2023 and will be the fourth location globally

Published 20 Sep, 2023 02:32pm

Movies & Music

Taylor Swift takes on Hollywood

NEW YORK: She already rules music, so now it’s on to Tinseltown: Taylor Swift’s concert documentary is poised to...

Published 20 Sep, 2023 01:59pm

Asia

Tornado in eastern China kills 10, hundreds relocated

BEIJING: A tornado in eastern China killed 10 people and seriously injured several others, state media said...

Updated 20 Sep, 2023 01:53pm

South Asia

UN records torture, deaths of detainees in Taliban custody

The United Nations has recorded over 1,600 incidents of rights violations against people detained by the Taliban...

Published 20 Sep, 2023 01:41pm

Sports

Goalkeeper Earps wins England Women’s Player of the Year

Goalkeeper Mary Earps was voted England’s Women’s Player of the Year on Tuesday. The 30-year-old, who won FIFA’s...

Published 20 Sep, 2023 01:34pm

Forex

Russian rouble steadies after late slide the previous day

The Russian rouble steadied on Wednesday ahead of two OFZ bond auctions by the finance ministry, stabilising after...

Published 20 Sep, 2023 01:28pm

South Asia

India’s opposition Congress dismisses Canada’s suspicions on Sikh leader’s murder

NEW DELHI: India’s main opposition Congress party backed on Wednesday the government’s rejection of Canada’s...

Published 20 Sep, 2023 01:25pm

Forex

Thai baht, stocks hit multi-month lows on high oil prices

The Thai baht, stocks and bonds slid to multi-month lows under foreign selling pressure on Wednesday, with investors...

Published 20 Sep, 2023 01:13pm

Business & Finance

UK inflation in surprise drop to 18-month low

LONDON: British inflation unexpectedly slowed in August, data showed Wednesday, hitting an 18-month low and sparking...

Published 20 Sep, 2023 01:02pm

Stocks

Hong Kong stocks open on the back foot

HONG KONG: Hong Kong fell at the open Wednesday, tracking losses on Wall Street ahead of the Federal Reserve’s...

Published 20 Sep, 2023 12:52pm

World

Canada’s concerned Sikh community urges Ottawa to get tough with India

TORONTO: Canada’s Sikh community is hoping Ottawa’s shock accusations against India – that New Delhi may have been...

Published 20 Sep, 2023 12:48pm

World

Ukraine’s first lady at UN: help bring ‘abducted’ children home

UNITED NATIONS: Ukraine’s first lady urged world leaders on Tuesday to help return Ukrainian children forcibly taken...

Published 20 Sep, 2023 12:42pm

World

Japan PM says open to meeting North Korean leader

UNITED NATIONS: Japanese Prime Minister Fumio Kishida said Tuesday he was willing to meet North Korean leader Kim...

Published 20 Sep, 2023 12:32pm

Asia

North Korea’s Kim returns to Pyongyang after ‘immortal’ Russia trip

SEOUL: North Korean leader Kim Jong Un has returned to the capital city of Pyongyang, state media said Wednesday,...

Published 20 Sep, 2023 12:26pm

Sports

India revs up for maiden MotoGP at circuit where F1 stalled

GREATER NOIDA: India hosts its maiden MotoGP on Sunday as the premier motorcycling championship looks to tap a...

Published 20 Sep, 2023 12:19pm

Sports

New Zealand to decide Southee’s World Cup fate after surgery

WELLINGTON: Black Caps paceman Tim Southee’s participation in next month’s 50-overs World Cup will be decided after...

Published 20 Sep, 2023 12:12pm

World

UN chief convenes ‘no nonsense’ climate summit, without China or US

UNITED NATIONS: UN Secretary-General Antonio Guterres is set Wednesday to host a climate meeting marred at its...

Published 20 Sep, 2023 12:09pm

Financial

China’s property crisis weighs on developing Asia’s 2023 growth outlook: ADB

MANILA: Economic growth in developing Asia this year will be slightly lower than previously expected as the weakness...

Published 20 Sep, 2023 11:43am

USA

Yellen says she trusts IMF, World Bank, Morocco to adjust annual meetings after disaster

NEW YORK: US Treasury Secretary Janet Yellen said on Tuesday that she trusts the leaders of the World Bank and the...

Published 20 Sep, 2023 11:38am

Middle East

Saudi Arabia welcomes positive results of talks to support peace process in Yemen

CAIRO: Saudi Arabia welcomes the positive results of discussions to support the peace process in Yemen, the...

Published 20 Sep, 2023 11:31am

Stocks

Australian shares fall as commodity stocks, financials drag; focus on Fed decision

Australian shares slid on Wednesday, dragged down by heavyweight commodity and financial stocks, with cautious...

Published 20 Sep, 2023 11:25am

Real Estate

Country Garden delivers 381,000 homes as of Sept 15

BEIJING: Chinese developer Country Garden said on Wednesday it has delivered 381,000 homes in 231 Chinese cities as...

Published 20 Sep, 2023 11:17am

Technology

China’s BYD sets Dolphin EV price in Japan at 3.63mn yen

TOKYO: China’s BYD has set the suggested retail pricing of its Dolphin electric vehicle in Japan at 3.63 million yen...

Published 20 Sep, 2023 11:11am

BR Research

Rice bonanza: tread smartly!

Pakistan’s rice sector has probably never before been so upbeat (For more, read: ‘Rice export: don’t get stupid’...

Updated 20 Sep, 2023 11:08am

Companies

Boeing slightly raises China 20-year demand outlook to 8,560 new planes

SHANGHAI: Boeing on Wednesday slightly increased its annual 20-year forecast for new plane deliveries to China,...

Published 20 Sep, 2023 11:06am

Mutual Funds

Indian bond yields seen little changed before Fed policy decision

MUMBAI: Indian government bond yields are likely to be little changed on Wednesday, as traders await the US Federal...

Published 20 Sep, 2023 11:02am

Mutual Funds

Japan yields hover at decade high before crucial central bank decisions

TOKYO: Benchmark 10-year Japanese government bond yields hovered at their highest level in almost a decade on...

Published 20 Sep, 2023 10:57am

Forex

India rupee, perched near record low, to remain under pressure

MUMBAI: The Indian rupee, hovering near a record low, is expected to remain under pressure amid focus on crude oil...

Published 20 Sep, 2023 10:53am

Africa

Gulf Cooperation Council countries, US urge Iran to fully cooperate with IAEA

CAIRO: Gulf Cooperation Council (GCC) countries and the US renewed calls for Iran to fully cooperate with the...

Published 20 Sep, 2023 10:50am

USA

UN General Assembly: Erdogan, Netanyahu meet for first time as relations thaw

NEW YORK: Turkiye President Tayyip Erdogan and Israeli Prime Minister Benjamin Netanyahu met for the first time in...

Published 20 Sep, 2023 10:44am

ECs have no role in volatile exchange rate: Bostan

KARACHI: Malik Muhammad Bostan, Chairman of Exchange Companies Association of Pakistan (ECAP), Tuesday said Exchange...

Updated 20 Sep, 2023 10:43am

Europe

Russia’s corvette carries out firing drills at Baltic Sea

Russia’s Stoikiy corvette of the Baltic Fleet carried out firing drills at mock targets in the Baltic Sea, the...

Published 20 Sep, 2023 10:30am

FCA Aug: CPPA-G seeks Rs1.83/ unit hike in Discos’ tariff

ISLAMABAD: The Central Power Purchasing Agency- Guaranteed (CPPA-G) has sought a positive adjustment of Rs 1.83 per...

Updated 20 Sep, 2023 10:28am

BR Research

Banks’ entry into retail forex: need of the hour

Earlier this week, banks presidents had a meeting with finance minister, governor SBP, and a senior officer of an...

Updated 20 Sep, 2023 10:27am

Power Division shares CDMP with IMF, World Bank

Official argues average tariff will remain Rs 42 or Rs 43 per unit as no substantial variation is expected in estimates of CDMP

Updated 20 Sep, 2023 10:26am

Europe

Fire breaks out near airport, oil depot in Russia’s Sochi resort

A fire broke out early on Wednesday near the airport and not far from an oil depot in the Black Sea resort of Sochi,...

Published 20 Sep, 2023 10:26am

Bullion Rate

Gold stalls as Fed caution keeps investors at bay

Gold prices were subdued on Wednesday as investors remained on guard for the US Federal Reserve’s policy decision...

Published 20 Sep, 2023 10:23am

Commodities

Wheat rebounds on supply uncertainty, harvest pressure weighs on corn

SINGAPORE: Chicago wheat rose on Wednesday, recouping some of this week’s losses as uncertainty over supplies from...

Published 20 Sep, 2023 10:20am

Commodities

Palm rangebound as soft ringgit counters weak exports

SINGAPORE: Malaysian palm oil futures traded in a tight range on Wednesday, as market participants weighed weak...

Published 20 Sep, 2023 10:16am

Commodities

China exported no germanium, gallium in Aug due to export curbs

BEIJING: China’s exports of germanium and gallium products in August plunged to zero,customs data showed on...

Published 20 Sep, 2023 10:14am

Commodities

Copper edges up on softer dollar ahead of Fed decision

Copper prices edged up in London on Wednesday as a softer dollar made greenback-priced metals cheaper to holders of...

Published 20 Sep, 2023 10:11am

Stocks

Stocks struggle as oil surge sets stage for hawkish Fed

SINGAPORE: Asian stocks struggled for headway on Wednesday while 10-year US Treasury yields stood at 16-year highs...

Published 20 Sep, 2023 10:08am

Stocks

Indian stocks open lower; HDFC Bank leads drags

India’s benchmark stock indexes opened lower on Wednesday, led by losses in HDFC Bank as the country’s largest...

Published 20 Sep, 2023 09:59am

Stocks

Japan stocks retreat from 33-year peak ahead of Fed policy decision

TOKYO: Japan’s Topix index slipped on Wednesday from a 33-year peak scaled last week, with investor mood turning...

Published 20 Sep, 2023 09:55am

Forex

Dollar firm but softens against yen ahead of FOMC

TOKYO: The dollar remained firm on Wednesday but softened slightly against the yen ahead of a much-anticipated rate...

Published 20 Sep, 2023 09:49am

Manual filers declared as active taxpayers by FBR

ISLAMABAD: Following intervention of the Federal Tax Ombudsman (FTO), the Federal Board of Revenue (FBR) has...

Updated 20 Sep, 2023 09:42am

Business & Finance

PBC apprises ministers about key challenges

ISLAMABAD: Pakistan Business Council (PBC) on Tuesday held meetings with caretaker Federal Ministers Dr Gohar Ejaz...

Updated 20 Sep, 2023 09:41am

KE willing to join RE project of Saudi firm

ISLAMABAD: K-Electric (KE) has expressed willingness to become partner in 3,000-MW Renewable Energy (RE) project of...

Updated 20 Sep, 2023 09:40am

Essential food items and consumer products: ECC for maintaining gap between wholesale, retail prices

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved Pakistan Steel Mills (PSM)...

Updated 20 Sep, 2023 09:40am

SECP issues Shariah Governance Regulations, 2023

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has restrained the Shariah compliant...

Updated 20 Sep, 2023 09:12am

BR Research

Sitara Chemical Industries Limited

Sitara Chemical Industries Limited (PSX: SITC) was incorporated in Pakistan as a public limited company in 1981. The...

Published 20 Sep, 2023 08:52am

Dasu transmission line: NTDC asked to stop release of remaining payments

ISLAMABAD: The Senate Standing Committee on Power has asked National Transmission and Despatch Company (NTDC) to...

Updated 20 Sep, 2023 08:48am

SECP gives legal backing to Islamic FIs

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has given legal backing to the Islamic...

Updated 20 Sep, 2023 08:47am

Speculators outmanoeuvre authorities by opening gold rates

KARACHI: In a total defiance, speculators have outmanoeuvred the authorities and market association by opening gold...

Updated 20 Sep, 2023 08:47am

BR’s refresher: your morning briefing for the day

Important updates from September 19, 2023

Published 20 Sep, 2023 08:44am

Opinion

Unraveling state of engineering industry

The industrial sector is unquestionably important to Pakistan’s economy, contributing significantly to its growth...

Updated 20 Sep, 2023 07:05am

Energy

OGDCL announces gas discovery at Chak 214-1 in RYK

ISLAMABAD: The Oil & Gas Development Company Limited (OGDCL), serving as the sole operator of the Mari East ...

Updated 20 Sep, 2023 06:51am

Business & Finance

Detroit’s ONE is gearing up to potentially change EV battery landscape

DETROIT, MICHIGAN: Pakistani-origin American Mujeeb Ijaz, the CEO and founder of Michigan-based Our Next Energy...