News Archives for Latest - 2023-10-03

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Archive - 2023-10-03

Cricket

Batsmen shine as Australia edge Pakistan in World Cup warm-up

BENGALURU: Pakistan batsman Babar Azam scored a breezy 90 against Australia while Iftikhar Ahmed sparkled at the top...

Published 03 Oct, 2023 11:09pm

Sports

Javelin star Arshad Nadeem ruled out of Asian Games with knee injury

Pakistani javelin thrower Arshad Nadeem has withdrawn from the Asian Games in Hangzhou, China due to a chronic knee...

Published 03 Oct, 2023 10:59pm

World

Biden calls shaken US allies to reassure on Ukraine aid

WASHINGTON: President Joe Biden called Western allies Tuesday to reassure them that the United States will stand ...

Published 03 Oct, 2023 10:55pm

Pakistan

Nawaz Sharif to surrender to court upon return: Rana Sanaullah

Says impression of PML-N striking a deal with the military establishment is wrong and baseless

Updated 03 Oct, 2023 10:52pm

Forex

Rupee sees 19th successive gain, settles at 285.72 against US dollar

Local currency has appreciated 7.5% since it hit a record low of 307.1 in inter-bank market on Sept 5

Updated 03 Oct, 2023 10:51pm

Currency

Open-market: rupee registers marginal gain against US dollar

The Pakistani rupee maintained its positive trajectory against the US dollar in the open-market on Tuesday as the...

Updated 03 Oct, 2023 10:50pm

Money & Banking

Bank Alfalah to establish wholly-owned EC

Becomes sixth commercial bank to make such announcement to date

Updated 03 Oct, 2023 10:44pm

Business & Economy

Pakistan’s GDP projected to recover to 1.7% in FY24: World Bank

This is 'predicated on the robust implementation of the IMF Stand-By Arrangement, new external financing and continued fiscal restraint'

Updated 03 Oct, 2023 10:43pm

Pakistan

Practice and procedure act: CJP Isa says last hearing to be held on Oct 9

Chief justice says many cases are already pending in the SC and the court cannot spend too much time on one case

Updated 03 Oct, 2023 10:42pm

Business & Economy

Poverty headcount in Pakistan reached 39.4% in FY23, projects World Bank

Expects poverty reduction to be gradual in the medium term, owing to weak growth and lower labor income, persistent inflation (especially for food and energy), and lower remittances

Updated 03 Oct, 2023 10:35pm

Technology

Illegal loan apps reach public through WhatsApp after being removed from app stores

After getting removed from Google Play and Apple store, illegal loan providers have started to exploit other means...

Updated 03 Oct, 2023 10:33pm

Pakistan

Pakistan sets November 1 as deadline for ‘illegal immigrants’ to leave country

In a major development, the caretaker government on Tuesday directed all illegal immigrants to sell their properties...

Updated 03 Oct, 2023 10:22pm

Pakistan

10 terrorists killed by security forces in KP’s Tank district: ISPR

A large cache of arms, ammunition, and explosives also recovered during the operation, the military's media wing says

Published 03 Oct, 2023 09:05pm

Energy

Oil steadies amid strong US dollar, mixed supply cues

LONDON: Oil prices were little changed on Tuesday, after falling to a three-week low in the previous session, amid a...

Updated 03 Oct, 2023 08:07pm

Europe

Ukraine’s Zelensky visiting eastern frontline: statement

KYIV: President Volodymyr Zelensky on Tuesday said Tuesday he was visiting Ukrainian troops near the eastern front...

Published 03 Oct, 2023 08:02pm

Stocks

KSE-100 ekes out gain in range-bound session

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index managed to close higher by 0.28% in a range-bound...

Published 03 Oct, 2023 07:08pm

Commodities

Energy transition at risk from commodity market fragmentation: IMF

WASHINGTON: Growing geopolitical fragmentation since the invasion of Ukraine has hit commodity markets, threatening...

Published 03 Oct, 2023 07:03pm

Stocks

US stocks open lower as key Treasury yield hits 16-year peak

NEW YORK: Wall Street stocks fell early Tuesday after a closely watched US bond benchmark hit a 16-year high,...

Published 03 Oct, 2023 07:00pm

Perspectives

Pakistan and the genie of Artificial Intelligence

The late American computer scientist John McCarthy is said to have coined the word Artificial Intelligence in 1956...

Published 03 Oct, 2023 06:08pm

Arts

What to read: 5 noteworthy books out this fall

As temperatures begin to drop and the fashion as well as sporting calendars begin to wind down, there are plenty new...

Updated 03 Oct, 2023 05:59pm

Europe

Putin may soon announce run in Russia’s 2024 election: Kommersant

MOSCOW: Russian President Vladimir Putin may soon indicate he will take part in a 2024 presidential election,...

Published 03 Oct, 2023 05:54pm

Europe

Warsaw, Kyiv make breakthrough on Ukrainian grain transit

WARSAW: Warsaw and Kyiv announced on Tuesday they had agreed to speed up the transit of Ukrainian cereal exports...

Published 03 Oct, 2023 05:23pm

Europe

Ukraine frontline attacks ‘failed’: Moscow

MOSCOW: Kyiv’s attempts to penetrate Russian defences on frontlines in the east and south of the country have...

Published 03 Oct, 2023 05:12pm

Energy

Qatar begins construction on mega gas field expansion

RAS LAFFAN: Qatar’s state-owned energy giant began construction Tuesday on a project to expand production from the...

Published 03 Oct, 2023 05:10pm

Cricket

Cricket great Kohli to own team in electric powerboat series

Indian batsman Virat Kohli was announced as the newest celebrity team owner in the E1 World Championship on Tuesday,...

Published 03 Oct, 2023 05:04pm

Money & Banking

Russian central bank: high rates likely needed throughout 2024

MOSCOW: Russia will probably need to keep interest rates high throughout 2024, the Bank of Russia’s Deputy Governor...

Published 03 Oct, 2023 04:58pm

Asia

Two earthquakes strike Nepal, blocking major highway, injuring one

KATHMANDU: Two earthquakes rocked western Nepal on Tuesday, injuring one person, damaging homes and triggering a...

Published 03 Oct, 2023 04:56pm

Forex

Greenback keeps on climbing, dollar index at 10-month high

TOKYO/LONDON: The euro, pound and yen were all pinned at multi-month lows on Tuesday, with the Japanese currency on...

Published 03 Oct, 2023 04:52pm

Money & Banking

Banks stocks back in vogue for hedge funds in September: Morgan Stanley

LONDON: Global hedge funds raced to load up on bullish positions in banks, insurance companies and capital markets...

Published 03 Oct, 2023 04:50pm

Technology

Meta’s Instagram, Facebook to charge EU users for ad-free service: source

Meta Platforms is looking to introduce ad-free subscription plans for Instagram and Facebook users in Europe, two...

Published 03 Oct, 2023 04:43pm

Technology

Actor Tom Hanks warns of ad with AI imposter

SAN FRANCISCO: Actor Tom Hanks and CBS talk show co-host Gayle King on Monday were warning fans about ads featuring...

Published 03 Oct, 2023 04:02pm

Commodities

Palm ends higher after two losing sessions as soyoil jumps

NEW DELHI: Malaysian palm oil futures closed higher on Tuesday after two straight sessions of losses, buoyed by a...

Updated 03 Oct, 2023 03:57pm

Stocks

Auto, energy slide drags Indian shares; small-, mid-caps outperform

BENGALURU: Indian shares closed lower on Tuesday, dragged by auto stocks on mixed sales data in September, while...

Updated 03 Oct, 2023 03:25pm

Stocks

Hong Kong stocks slump as US yields climb

HONG KONG: Hong Kong shares started the last quarter of 2023 sharply lower on Tuesday as U.S. Treasury yields...

Updated 03 Oct, 2023 03:01pm

South Asia

Iran’s Khamenei says normalising ties with Israel is ‘betting on a losing horse’

DUBAI: Iran’s Supreme Leader Ayatollah Ali Khamenei said that countries seeking to normalise relations with Israel...

Published 03 Oct, 2023 02:58pm

Energy

LNG prices to soften by end of decade: TotalEnergies CEO

QATAR: Global prices of liquefied natural gas (LNG) are expected to soften by the end of the decade as new supply...

Published 03 Oct, 2023 02:48pm

Sports

Sabalenka survives scare to reach China Open third round

BEIJING: World number one Aryna Sabalenka survived a major scare on her way to the third round of the China Open,...

Published 03 Oct, 2023 02:06pm

Commodities

Japanese futures close lower on weak Asian shares, soft Nikkei

SINGAPORE: Japanese rubber futures recorded their biggest dip since April on Tuesday amid sliding Asian stocks and a...

Updated 03 Oct, 2023 02:00pm

Stocks

London stocks slip as commodity stocks weigh, Boohoo slumps on forecast cut

UK-listed stocks opened lower on Tuesday, weighed down by energy and mining companies as prices of most commodities...

Published 03 Oct, 2023 01:57pm

South Asia

IMF cuts Philippines growth outlook to 5.3% for this year

MANILA: The International Monetary Fund (IMF) cut its economic growth forecast for the Philippines this year to 5.3%...

Published 03 Oct, 2023 01:52pm

Currency

Sterling falls to 6-1/2-month low versus dollar

Sterling fell to a new 6-1/2-month low against the dollar on Tuesday on concerns about the economic outlook and...

Published 03 Oct, 2023 01:49pm

Stocks

Most major Gulf bourses shrug off rate worries; Saudi falls

Most major Gulf stock markets edged higher in early trade on Tuesday despite worries over higher U.S interest rates...

Published 03 Oct, 2023 01:46pm

Money & Banking

Turkish central bank’s reserves fell by more than $3bn last week

ANKARA: The Turkish central bank’s net and gross foreign reserves fell by more than $3 billion last week, five...

Published 03 Oct, 2023 01:42pm

Movies & Music

Striking Hollywood actors resume contract talks with studios, networks

LOS ANGELES: Negotiators for striking Hollywood actors resumed contract talks on Monday with representatives of...

Published 03 Oct, 2023 01:32pm

South Asia

Japan sees hottest September since records began

TOKYO: Japan has seen its hottest September since records began 125 years ago, the weather agency said, in a year...

Published 03 Oct, 2023 01:26pm

Commodities

Cotton arrival jumps nearly 28% in last two weeks of Sept: PCGA

Cotton arrival in Pakistan witnessed a significant increase of 27.7% as of September 30 compared to September 15,...

Published 03 Oct, 2023 01:24pm

Pakistan

Will continue to work with Pakistan to counter violent extremism: US State Dept

State Department spokesperson Matthew Miller says Pakistanis have suffered tremendously from terrorist attacks, remarks that come after multiple blasts on Friday last week

Updated 03 Oct, 2023 01:22pm

South Asia

India tells Canada to withdraw 41 diplomats

Canada has 62 diplomats in India and India had said that the total should be reduced by 41

Updated 03 Oct, 2023 01:14pm

Stocks

European stock markets extend losses at open

LONDON: Europe’s main stock markets dropped further at the start of trading on Tuesday after starting the week with...

Published 03 Oct, 2023 01:13pm

South Asia

Indian police launch raids on journalists, activists

NEW DELHI: Indian police raided the homes of at least eight journalists and activists on Tuesday, local media...

Published 03 Oct, 2023 01:11pm

Europe

Turkiye’s inflation hovers near 60% after policy U-turn

ISTANBUL: Turkiye’s annual inflation rate held steady near 60 percent last month, official data showed Thursday,...

Published 03 Oct, 2023 01:01pm

Stocks

Japan’s Nikkei slumps to 4-month low as US yield spike crushes sentiment

TOKYO: Japan’s Nikkei share average slumped to a four-month low on Tuesday as sentiment soured amid higher U.S....

Updated 03 Oct, 2023 12:28pm

Markets

Indonesia central bank intervenes to defend rupiah, open to buying bonds

JAKARTA: Indonesia’s central bank has intervened in the foreign exchange market to manage the supply and demand of...

Published 03 Oct, 2023 12:24pm

South Asia

World Bank maintains India current fiscal year growth forecast at 6.3%

NEW DELHI: The World Bank on Tuesday maintained its forecast for India’s economic growth for the current fiscal year...

Published 03 Oct, 2023 12:20pm

Currency

South African rand extends losses on stronger dollar, US yields

JOHANNESBURG: The South African rand extended losses in early trade on Tuesday, bearing the brunt of more dollar...

Published 03 Oct, 2023 12:17pm

Europe

UK PM says no decision yet on high-speed railway project

LONDON: British Prime Minister Rishi Sunak said on Tuesday he had not yet taken a decision on whether to cancel the...

Published 03 Oct, 2023 12:16pm

Sports

Swiatek on board with WTA’s performance byes

Iga Swiatek has given her backing to the reintroduction of performance byes during the WTA’s Asian swing of events,...

Published 03 Oct, 2023 12:14pm

South Asia

Sri Lankan economy to see growth next year after 3.8% contraction, says World Bank

COLOMBO: Sri Lanka’s economy is set to perform better than expected but still see a significant contraction in 2023...

Published 03 Oct, 2023 12:10pm

Markets

TOMCL says authorisation to export offals to UAE received

The Organic Meat Company Limited (TOMCL), a Pakistani meat processor, said on Tuesday that it has received approval...

Published 03 Oct, 2023 11:29am

Stocks

Australian shares hit over six-month low on rate hike fears

Australian shares closed at an over six-month low on Tuesday, with all major sectors ending in the red as cautious...

Updated 03 Oct, 2023 11:18am

Europe

Ukraine downs 29 Russia-launched drones, one cruise missile: Ukraine’s Air Force

Ukraine destroyed 29 of 31 drones launched by Russia and one cruise missile, its air force said on Tuesday, most of...

Published 03 Oct, 2023 11:11am

Cricket

Jaiswal ton leads India’s men to Asian Games cricket debut win

HANGZHOU: Explosive opener Yashasvi Jaiswal smashed seven sixes in a sublime maiden T20 century as India’s men...

Published 03 Oct, 2023 10:46am

Forex

Indian rupee likely to open weaker pressured by surging U.S. yields

MUMBAI: The Indian rupee is likely to open weaker on Tuesday as U.S. treasury yields rose to fresh multi-year highs...

Published 03 Oct, 2023 10:37am

Commodities

Gold down for seventh straight session as US Fed stays hawkish

Gold continued to sell off on Tuesday, clocking its longest losing streak since Aug. 2022 in the last session as...

Published 03 Oct, 2023 10:29am

Commodities

Copper hits over 4-month low on firm dollar

Copper prices in London fell to their lowest in more than four months on Tuesday as a firm dollar made metals priced...

Published 03 Oct, 2023 10:27am

Middle East

New business helps rebound in Saudi non-oil activity in Sept

DUBAI: Growth in non-oil business activity in Saudi Arabia accelerated in September from an 11-month low the...

Published 03 Oct, 2023 10:16am

Forex

Australian dollar under pressure as RBA holds for another month

SYDNEY: The Australian dollar was under pressure on Tuesday after the country’s central bank left interest rates...

Published 03 Oct, 2023 10:14am

Financial

Japan 10-year JGB auction average yield at 0.768%, yield at lowest accepted price 0.770%

TOKYO: A 10-year Japanese government bond auction on Tuesday had an average yield at 0.768%, while the yield at the...

Published 03 Oct, 2023 10:12am

Forex

Russian rouble weakens past 100 to the dollar

The Russian rouble weakened past the symbolic threshold of 100 to the dollar before recovering slightly in early...

Published 03 Oct, 2023 10:08am

Financial

India bond yields rise as US 10-year yield hits 16-year high

MUMBAI: Indian government bond yields started the week higher, as U.S. Treasury yields continued to scale fresh...

Published 03 Oct, 2023 10:05am

Forex

Dollar hits new high on upbeat data, yen teeters near intervention line

TOKYO: The dollar held on to fresh highs on Tuesday, pushing the yen down closer to an intervention zone, after...

Published 03 Oct, 2023 09:53am

Third-party participation in CPEC: Accord likely at third Belt and Road Forum

Caretaker Minister for Planning, Development and Special Initiatives Sami Saeed chairs meeting to review progress on CPEC projects

Updated 03 Oct, 2023 09:51am

Discos and KE consumers: Nepra notifies periodic adjustment of Rs3.28/unit

ISLAMABAD: National Electric Power Regulatory Authority (NEPRA) on Monday issued notification of periodic adjustment...

Updated 03 Oct, 2023 09:42am

PM highlights criticality of technical training programmes

ISLAMABAD: The caretaker federal cabinet has approved the appointment of Lieutenant General Muhammad Munir Afsar as...

Updated 03 Oct, 2023 09:39am

Cross-border smuggling: Security personnel found involved to face stiff action

ISLAMABAD: Caretaker Interior Minister Sarfaraz Bugti said on Monday that the entire nation was united against the...

Updated 03 Oct, 2023 09:33am

Opposition of IMF, World Bank: Plan to have direct credit lines from banks, FIs shelved

ISLAMABAD: The Finance Division has reportedly shelved its plan to have direct credit lines from Banks/ Financial...

Updated 03 Oct, 2023 09:15am

Upcoming NFC: FD seeks proposals from ministries, provinces

ISLAMABAD: The Finance Division has sought proposals from federal ministries and provinces for the upcoming National...

Updated 03 Oct, 2023 09:14am

PHMA demands application of single law to Sindh industries

KARACHI: Pakistan Hosiery Manufacturers and Exporters Association (PHMA) on Monday demanded clipping multiple...

Updated 03 Oct, 2023 09:12am

BR Research

Inflation drags the economy further

Waiting for inflation to taper is like Samuel Beckett’s Waiting for Godot, a theater in absurdity. It is showing no...

Published 03 Oct, 2023 08:57am

BR Research

Petroleum pricing: Border and currency controls imperative

The petroleum product price relief for the ongoing fortnight felt too little, given how retail prices are almost 50...

Published 03 Oct, 2023 08:54am

BR Research

Cordoba Logistics & Ventures Limited

Cordoba Logistics & Ventures Limited (PS: CLVL) was incorporated in Pakistan as a public limited company in...

Published 03 Oct, 2023 08:52am

BR’s refresher: your morning briefing for the day

Important updates from October 2, 2023

Published 03 Oct, 2023 08:43am

Industry

Insurance industry paid Rs34.3bn against taxes, duties in 2022

ISLAMABAD: The insurance industry has paid taxes/duties of Rs34.3 billion to the exchequer during 2022 including...

Updated 03 Oct, 2023 08:43am

Sindh, Punjab to face water shortage in Rabi season

ISLAMABAD: The IRSA Advisory Committee (IAC) has projected 15 percent water shortage of Punjab and Sindh during Rabi...

Updated 03 Oct, 2023 08:41am

Pakistan

PM launches countrywide polio campaign

ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar has launched a countrywide polio campaign to continue till...

Updated 03 Oct, 2023 08:40am

Technology

Flying and self-driving taxis: Dubai embraces the future of transport

There is also talk of delivery robots - four-legged, semi-human vehicles that can deliver online purchases and medical supplies

Published 03 Oct, 2023 06:54am

Industry

US manufacturing sector nears recovery; construction spending solid

WASHINGTON: US manufacturing took a step further towards recovery in September as production picked up and ...

Updated 03 Oct, 2023 06:43am

Opinion

Our planet is choking on plastic—II

Importantly, in the EU’s Circular Economy Action Plan, plastic is one of the priority areas of this circular...