News Archives for Latest - 2023-09-28

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Archive - 2023-09-28

Commodities

Reko-Diq Project: PPL to evaluate potential engagement with sovereign foreign investors

Decides to hire advisors through associated company

Published 28 Sep, 2023 11:25pm

Europe

French defence minister, in Kyiv, discusses joint weapons output with Zelenskiy

French Defence Minister Sebastien Lecornu visited Kyiv on Thursday and discussed the possibility of joint weapons...

Published 28 Sep, 2023 11:20pm

Companies

Abu Dhabi's IHC to sell stake in two Adani group companies

BENGALURU: Abu Dhabi conglomerate International Holding Company (IHC) on Thursday said it will sell its stake in two...

Published 28 Sep, 2023 11:09pm

Europe

Belarus says Polish helicopter violated its airspace, Warsaw denies

MOSCOW: Belarus on Thursday said a Polish helicopter had violated its airspace but Warsaw said none of its...

Published 28 Sep, 2023 11:01pm

World

Canada PM says he is sure Blinken will raise murder case with India

OTTAWA: Canadian Prime Minister Justin Trudeau said on Thursday he was sure U.S. Secretary of State Antony Blinken...

Published 28 Sep, 2023 10:55pm

World

US says Iran forces aimed laser at American helicopter

WASHINGTON: Iranian naval forces repeatedly aimed a laser at an American military helicopter during a routine flight...

Published 28 Sep, 2023 10:10pm

Energy

Oil prices ease 1% on profit taking, interest rate worries

NEW YORK: Oil futures eased about 1% on Thursday, as traders took profits after prices soared early to 10-month ...

Updated 28 Sep, 2023 10:03pm

Pakistan

Law enforcement actions against illegal activities will continue with full force: COAS

Army chief underscores need for synergy among all relevant departments for the gainful effects of the landmark initiatives

Updated 28 Sep, 2023 10:02pm

Luxury

Dubai named ‘world’s number one destination’ for second year running: TripAdvisor Awards

Gulf city tops the list, followed by Bali, London and Rome

Updated 28 Sep, 2023 09:57pm

Energy

OGDC’s earnings clock in at whopping Rs224.6bn in FY23, up 68% YoY

Oil and Gas Development Company Limited (OGDC), the country’s largest E&P company, posted a profit-after-tax...

Updated 28 Sep, 2023 09:39pm

Energy

Engro Corporation eyes selling select thermal energy assets

Enters into principle understanding with potential acquirer for proposed divestment

Published 28 Sep, 2023 09:39pm

Pakistan

ECP unfreezes voter lists for registration, corrections till Oct 25

Development is important for maintaining up-to-date and accurate voter roll for the smooth conduct of elections, electoral watchdog says

Updated 28 Sep, 2023 09:35pm

Money & Banking

Faysal Bank to set up ‘wholly-owned’ Exchange Company

Becomes 5th commercial bank to make such announcement this month

Updated 28 Sep, 2023 09:33pm

Currency

Open-market: rupee gains further ground against US dollar

The Pakistani rupee maintained its upward trend against the US dollar in the open-market on Thursday as gap with the...

Updated 28 Sep, 2023 09:28pm

Forex

Rupee sees 17th successive session of gain, settles at 287.74 against US dollar

Local currency has gained 6.7% since it hit a record low of 307.1 in inter-bank market on Sept 5

Updated 28 Sep, 2023 09:27pm

Europe

EU extends right for Ukrainians to stay to 2025

BRUSSELS: The European Union on Thursday extended the right of refugees from Ukraine to stay in the bloc by a year...

Published 28 Sep, 2023 08:54pm

Sports

Ashwin replaces injured Axar in India World Cup squad

NEW DELHI: Off-spinner Ravichandran Ashwin replaced left-arm spinner Axar Patel on Thursday in India’s squad for the...

Published 28 Sep, 2023 08:52pm

USA

Musk guts X’s election integrity teams ahead of major votes

WASHINGTON: X-owner Elon Musk said that he had gutted the platform’s team dedicated to preserving election integrity...

Published 28 Sep, 2023 08:50pm

Sports

Murray crashes out to De Minaur in China Open first round

BEIJING: Andy Murray squandered three match points against Australia’s Alex De Minaur before crashing out in the...

Published 28 Sep, 2023 08:48pm

Stocks

KSE-100 loses 132 points as investors await fresh triggers

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index closed lower on Thursday, dented by weakening confidence...

Published 28 Sep, 2023 08:17pm

Forex

Pakistan’s central bank reserves decrease $59mn, now stand at $7.64bn

Dollar stockpile with State Bank of Pakistan declines on debt repayments

Published 28 Sep, 2023 07:53pm

Pakistan

FM renews Pakistan's call for independent Palestinian state

Jalil Abbas Jilani says Pakistan's position on the issue of Palestine is consistent and there is no change in its stance

Published 28 Sep, 2023 08:10pm

Stocks

Gulf shares dip on expectations for firm interest rates

Most Gulf equity markets dipped on Thursday, with investor confidence still fragile after the Federal Reserve’s...

Published 28 Sep, 2023 07:37pm

Stocks

Toronto stocks muted as healthcare losses outweigh materials’ gains

Canada’s main stock index was subdued at open on Thursday as gains in materials shares were offset by losses in...

Published 28 Sep, 2023 07:35pm

Europe

Chechen leader Kadyrov meets Putin after storm over prisoner beating

Chechen leader Ramzan Kadyrov said he discussed his region’s contribution to Russia’s war effort in Ukraine at talks...

Published 28 Sep, 2023 07:33pm

Stocks

US stocks open mixed on interest rate concerns

NEW YORK: Wall Street stocks diverged in early trading on Thursday as investors eyed Treasury yields, and while...

Published 28 Sep, 2023 06:51pm

Movies & Music

Michael Gambon, British actor who played Dumbledore, dies aged 82

LONDON: British-Irish actor Michael Gambon, best known to global audiences for playing the wise professor Albus...

Published 28 Sep, 2023 06:08pm

Financial

BNP Paribas upbeat on India bonds after JPMorgan inclusion, sees 10-year rally

MUMBAI: The recent addition of Indian government bonds to JPMorgan’s emerging market bond indexes has prompted BNP...

Published 28 Sep, 2023 05:53pm

Business & Finance

US GDP revised down in every first quarter from 2020 to 2022

WASHINGTON: US economic activity was either even weaker or not as strong as previously estimated in each of the...

Published 28 Sep, 2023 05:45pm

Europe

Ukraine forces 'gradually gaining ground': NATO chief

KYIV: NATO chief Jens Stoltenberg on Thursday acknowledged that Ukraine’s army was slowing clawing back territory...

Updated 28 Sep, 2023 05:43pm

Energy

Oil giant Saudi Aramco announces first global LNG deal

RIYADH: Saudi Aramco on Thursday announced its first global investment in liquefied natural gas, part of a broader...

Published 28 Sep, 2023 04:51pm

Europe

Russia sees ‘no reason’ for Armenians to flee Karabakh: Kremlin

MOSCOW: Moscow on Thursday said Armenians fleeing after Azerbaijani forces retook control of Nagorno-Karabakh had...

Published 28 Sep, 2023 04:47pm

Pakistan

Supreme Court adjourns hearing on pleas against Faizabad sit-in verdict till Nov 1

Three-member bench, including Chief Justice Qazi Faez Isa, was hearing petitions

Updated 28 Sep, 2023 04:22pm

Europe

Britain’s Shapps meets Zelenskiy on first visit to Kyiv as defence minister

KYIV: British defence minister Grant Shapps discussed how to bolster Ukraine’s air defences during talks in Kyiv...

Published 28 Sep, 2023 03:51pm

Europe

Flooded homes, streets as another storm hits battered central Greece

VOLOS: Torrential rain battered central Greece, flooding streets, homes and businesses in the city of Volos just...

Published 28 Sep, 2023 03:48pm

Middle East

Mourners demand accountability, bury loved ones after Iraq wedding inferno

HAMDANIYA: Calls for accountability grew on Thursday for the victims of a deadly fire at an Iraqi wedding...

Published 28 Sep, 2023 03:44pm

Europe

EU talks migration as Italy, Germany worry over increased arrivals

BRUSSELS: The European Union’s migration ministers meet in Brussels on Thursday to discuss how to handle migrants...

Published 28 Sep, 2023 03:40pm

Energy

Russian oil sold to India at 30% above Western price cap

MOSCOW/NEW DELHI: Russia is selling oil to India at nearly $80 per barrel, some $20 above the Western price cap,...

Published 28 Sep, 2023 03:11pm

Commodities

Copper rebounds after traders square positions ahead of China holiday

Copper prices rebounded on Thursday after traders squared positions ahead of a long public holiday in China, but a...

Published 28 Sep, 2023 03:08pm

Business & Finance

German GDP expected to contract by 0.6% this year

BERLIN: Five economic institutes are predicting gross domestic product (GDP) in Germany will contract by 0.6% in...

Published 28 Sep, 2023 03:07pm

Stocks

European shares slip for sixth straight session, all eyes on Germany inflation data

European shares edged lower for a sixth straight day on Thursday in choppy trading, with gains in energy stocks...

Published 28 Sep, 2023 03:05pm

Europe

German court suspends mRNA patent trial against BioNTech

DUESSELDORF: A German court on Thursday suspended a patent trial against BioNTech over the use of mRNA technology in...

Published 28 Sep, 2023 03:04pm

Business & Finance

India’s April-June current account gap widens sequentially

MUMBAI: India’s current account deficit widened in the April-June quarter, from the previous three months, largely...

Published 28 Sep, 2023 03:00pm

Business & Finance

Spain’s inflation rises to 3.5% in Sept as energy prices soar

Spain’s headline inflation rose to 3.5% in September, boosted by the soaring cost of energy, preliminary data from...

Published 28 Sep, 2023 02:59pm

Financial

Hungary central bank sees 2023 budget gap at 5.2% of GDP, overshooting target

BUDAPEST: Hungary’s central bank sees the 2023 budget deficit at 5.2% of gross domestic product, well above the...

Published 28 Sep, 2023 02:57pm

Middle East

Unemployment among Saudis falls to 8.3% in Q2

DUBAI: Joblessness among citizens in Saudi Arabia declined to 8.3% in the second quarter, down from 8.5% in the...

Published 28 Sep, 2023 02:56pm

Forex

Thai baht lowest in over 10 months; other Asian FX steady

Thailand’s baht slumped to its lowest in more than 10 months on Thursday, hit by persistent worries over the...

Published 28 Sep, 2023 02:53pm

Forex

Russian rouble hits over one-week low vs dollar as tax period ends

The Russian rouble hit a more than one-week low against the dollar on Thursday before recovering some ground,...

Published 28 Sep, 2023 02:52pm

Stocks

FTSE 100 muted at open; 888 Holdings tumbles on downbeat profit view

UK’s FTSE 100 was muted at open on Thursday as higher-for-longer interest rates weighed on investor sentiment...

Published 28 Sep, 2023 02:15pm

Forex

South African rand flat ahead of producer price data

JOHANNESBURG: The South African rand was little changed in early trade on Thursday ahead of the release of the...

Published 28 Sep, 2023 02:14pm

Commodities

Malaysia 2024 palm oil output to rise despite El Nino

MUMBAI: Malaysia’s palm oil production is likely to rise next year as more plentiful labour and the maturation of...

Published 28 Sep, 2023 02:12pm

South Asia

India imposes curfew in strife-hit areas of Manipur state

GUWAHATI/NEW DELHI: India imposed curfew in the capital and some areas of its restive state of Manipur on Thursday,...

Published 28 Sep, 2023 02:03pm

Stocks

Hong Kong stocks down at open

HONG KONG: Hong Kong stocks opened slightly lower Thursday morning following a tepid lead from Wall Street, with...

Published 28 Sep, 2023 01:10pm

Sports

‘I even wore cricket pads in bed’: How Shaheen rose to greatness

KARACHI: As a young boy in a family of seven cricket-mad brothers, Pakistan pace bowler Shaheen Shah Afridi immersed...

Published 28 Sep, 2023 01:08pm

Sports

Up and down Pakistan seek consistency in World Cup

KARACHI: Just a month ago, Pakistan were riding high as the world’s top-ranked ODI team and one of the favourites to...

Published 28 Sep, 2023 01:03pm

Pakistan

Pakistani vocational school helps Afghan women refugees build businesses

PESHAWAR: In a small workshop in the bustling northwestern Pakistani city of Peshawar, a dozen Afghan women sit...

Updated 28 Sep, 2023 12:38pm

Sports

Retiring Warner key for Australia’s World Cup title hopes

PERTH: Love him or hate him, David Warner’s self-belief and single-mindedness has seen him withstand scandals and...

Published 28 Sep, 2023 12:26pm

Sports

Dutch eye shock semi-final place at Cricket World Cup

AMSTERDAM: Dutch coach Ryan Cook believes his team can upset the odds and make it all the way to the World Cup...

Published 28 Sep, 2023 12:22pm

Technology

Meta putting AI in smart glasses, assistants and more

MENLO PARK: Meta chief Mark Zuckerberg on Wednesday said the tech giant is putting artificial intelligence into...

Published 28 Sep, 2023 12:19pm

Sports

Cricket World Cup: Australia factfile

With five championships, Australia is by far the most successful team in the World Cup

Published 28 Sep, 2023 12:15pm

Sports

Cricket World Cup: India factfile

This is the first time that India is hosting an entire 50 overs World Cup

Published 28 Sep, 2023 12:04pm

Sports

World champ Qin cruises as Zhang Yufei sets up Haughey blockbuster

HANGZHOU: World-record holder Qin Haiyang sauntered into the Asian Games 200m breaststroke final on Thursday, as...

Published 28 Sep, 2023 11:52am

Pakistan

PTI says Farrukh Habib ‘picked up’ from Gwadar

Pakistan Tehreek-e-Insaf (PTI) on Thursday claimed party leader and former minister Farrukh Habib was “picked up by...

Published 28 Sep, 2023 11:41am

Europe

Ukraine says 31 drones downed in ‘massive’ attack

KYIV: The Ukrainian military on Thursday said that Russia had launched a “massive” drone attack overnight and that...

Published 28 Sep, 2023 11:46am

Europe

More than half of Karabakh population has fled: Armenia

YEREVAN: More than 65,000 Armenians have fled Nagorno-Karabakh for Armenia, Yerevan said Thursday, as the exodus...

Published 28 Sep, 2023 11:42am

Europe

UK’s Sunak eyes election as ruling Tories meet

LONDON: Britain’s ruling Conservatives gather this weekend for their annual conference, with Prime Minister Rishi...

Published 28 Sep, 2023 11:30am

Asia

Japan finmin Suzuki reiterates warning against excessive FX volatility

TOKYO: Japan won’t rule out any options to deal with excessive currency volatility, Finance Minister Shunichi Suzuki...

Published 28 Sep, 2023 11:04am

Forex

Indian rupee poised to test record low as oil prices, US yields climb

MUMBAI: The Indian rupee is likely to open near its record low levels on Thursday with the surge in crude oil prices...

Published 28 Sep, 2023 11:00am

Technology

Sony gaming chief Jim Ryan to retire, group president to be interim head

TOKYO: Sony Group said on Thursday its gaming chief Jim Ryan would retire next March, with group President Hiroki...

Published 28 Sep, 2023 10:57am

Bullion Rate

Gold hovers near six-month low as markets brace for US economic data

Gold steadied on Thursday, although prices hovered near a six-month low hit in the previous session due to an...

Published 28 Sep, 2023 10:49am

World

Fire contained after powerful blast near airport in Uzbek capital

TASHKENT: A fire caused by a powerful explosion at a warehouse near Tashkent’s airport had been contained and the...

Published 28 Sep, 2023 10:45am

Europe

Germany’s Scholz ‘not convinced’ about tariffs on Chinese EVs

BERLIN: German Chancellor Olaf Scholz told business weekly Wirtschaftswoche that he was not convinced about the need...

Published 28 Sep, 2023 10:39am

Mutual Funds

Japan’s 10-year bond yield hits decade high on US yield surge

TOKYO: Japan’s benchmark 10-year government bond yield scaled a 10-year peak on Thursday, pulled by a surge in US...

Published 28 Sep, 2023 10:36am

Business & Finance

Thai Aug factory output falls 7.5% y/y, more than forecast

BANGKOK: Thailand’s manufacturing production index (MPI) in August dropped 7.53% from a year earlier, the industry...

Published 28 Sep, 2023 10:34am

Forex

China’s yuan holds steady ahead of week-long holiday

SHANGHAI: China’s yuan held steady against a buoyant dollar on Thursday, underpinned by a persistently...

Published 28 Sep, 2023 10:28am

Companies

Toyota’s Aug global output rises on stronger domestic production

TOKYO: Toyota Motor said global production climbed 4% from the same period a year earlier to 798,771 vehicles to...

Published 28 Sep, 2023 10:25am

Financial

HSBC to acquire Citigroup China consumer wealth business

HONG KONG: HSBC is set to acquire Citigroup’s China consumer wealth management business, which manages more than $3...

Published 28 Sep, 2023 10:23am

Mutual Funds

India 10-year yield crosses 7.20% as oil, US peers keep pressure on

MUMBAI: Indian government bond yields rose on Thursday, with the benchmark bond yield crossing 7.20%, triggered by a...

Published 28 Sep, 2023 10:20am

IRIS system’s capacity enhanced: Up to 0.6m taxpayers to file tax returns on a daily basis

ISLAMABAD: The Federal Board of Revenue (FBR) has enhanced the capacity of the IRIS system enabling 0.5-0.6 million...

Updated 28 Sep, 2023 10:20am

Contracts with IPPs, tariffs and ‘SOFR’: ECC tells PD to analyse impact of change, financial implications

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has directed the Power Division to analyze...

Updated 28 Sep, 2023 10:18am

Commodities

Wheat rises on prospects of tepid harvests in southern hemisphere

CANBERRA: Chicago wheat futures regained some ground on Thursday as traders looked beyond low price offers in Europe...

Published 28 Sep, 2023 10:18am

KE tariff hiked up to Rs4.45

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has increased KE’s tariff ranging from Rs 1.49...

Updated 28 Sep, 2023 10:17am

NTDC accuses Nepra of unleashing ‘awry’ deductions

ISLAMABAD: The National Transmission and Despatch Company (NTDC) on Wednesday accused the National Electric Power...

Updated 28 Sep, 2023 10:16am

Technology

Tencent-backed AI chip startup Enflame raises $274mn from state

China’s artificial intelligence (AI) chip startup Enflame, backed by tech giant Tencent, on Thursday said it raised...

Published 28 Sep, 2023 10:15am

Ban on import of smuggled items through ATT imminent

ISLAMABAD: The government is all set to impose restrictions on import of those items through Afghan Transit Trade...

Updated 28 Sep, 2023 10:12am

BR’s refresher: your morning briefing for the day

Important updates from September 27, 2023

Published 28 Sep, 2023 09:54am

Sports

Sri Lanka’s Gunathilaka cleared of sexual assault charge in Australia

SYDNEY: Sri Lankan international cricket player Danushka Gunathilaka was found not guilty of sexually assaulting a...

Published 28 Sep, 2023 10:10am

‘Unholy’ pacts with IPPs must be reviewed: Senate panel

ISLAMABAD: The Senate Standing Committee on Cabinet Secretariat recommended that there is an essential need to...

Updated 28 Sep, 2023 10:08am

Business & Finance

APSR for FY23 released: Banks, MFBs process e-banking transactions worth Rs167.4trn

KARACHI: Banks and MFBs have processed 2,073.3 million e-banking transactions amounting to Rs. 167.4 trillion in...

Updated 28 Sep, 2023 10:05am

Business & Finance

Issuance of right shares: SECP places additional conditions for listed firms

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has placed additional requirements/conditions...

Updated 28 Sep, 2023 10:01am

Real Estate

Evergrande shares halted as concerns mount about developer’s prospect

HONG KONG: Trading in shares of China Evergrande Group was suspended on Thursday after a report that its chairman...

Published 28 Sep, 2023 09:59am

Shamshad seeks greater role of provinces towards meeting targets

ISLAMABAD: Caretaker Finance Minister, Dr Shamshad Akhtar, has asked the caretaker provincial governments to ensure...

Updated 28 Sep, 2023 09:57am

Pakistan

ECP issues lists of delimited constituencies

ISLAMABAD: The National Assembly’s 266 general seats cover a total population of Pakistan’s 241,499,431 persons and...

Updated 28 Sep, 2023 09:57am

Stocks

Japan’s Nikkei hits one-month low on Fed’s higher-for-longer rate woes

SINGAPORE: Japan’s Nikkei share average hit a one-month low on Thursday, as worries that the Federal Reserve’s...

Published 28 Sep, 2023 09:56am

Stocks

Indian shares open higher, weak global cues limit gains

BENGALURU: Indian shares inched up at open on Thursday, helped by gains in banks and metal companies, while weaker...

Published 28 Sep, 2023 09:53am

Forex

Dollar sticks near 10-month high, keeping heat on yen

TOKYO: The dollar clung near a 10-month high against a basket of its peers on Thursday, keeping the yen under...

Published 28 Sep, 2023 09:52am

Profits, dividends: July-August repatriation rises 74pc YoY

Analysts say surge comes after relaxation of capital controls that were implemented previously to curtail outflow of foreign exchange

Updated 28 Sep, 2023 09:51am

BR Research

Oil’s march to $100

Brent crude oil crossed $95/bbl for the first time since November 2022 – having soared nearly 2 percent in early...

Published 28 Sep, 2023 08:59am

BR Research

Agha steel: Gold worthy?

It has been three years since the long-steel rebar maker, Agha Steel went public with an initial public offering...

Published 28 Sep, 2023 08:58am

BR Research

Pakistan Petroleum Limited

Pakistan Petroleum Limited (PSX: PPL) is a key supplier of natural gas in the country. The company is one of the...

Published 28 Sep, 2023 08:57am

Industry

Pakistan’s auto industry seeks ‘remission’ after failing to meet export target during FY23

Manufacturing Certificate of all OEMs is due to expire on Sept 30, and would have been renewed if export target had been met

Published 28 Sep, 2023 06:47am

Companies

Hindrance in profit repatriation to strangle FDI inflow: MD Mondelēz Pakistan

Sami Wahid terms Pakistan among 'toughest markets' to lead company in, 'especially last year'

Published 28 Sep, 2023 06:30am

Opinion

Power sector controversy: take-or-pay contracts

Energy prices have increased tremendously which has created controversy and unrest in the country. IPP contracts are...