News Archives for Latest - 2023-10-04

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Archive - 2023-10-04

World

Biden says he is worried Republican infighting could hurt Ukraine aid

WASHINGTON: US President Joe Biden said on Wednesday that he is worried Republican infighting in Congress could hurt...

Published 04 Oct, 2023 11:32pm

World

Ukraine doing 'everything' to obtain more air defence systems before winter: Zelensky

KYIV: Ukrainian President Volodymyr Zelensky on Wednesday said Kyiv was doing "everything" to make sure the war-torn...

Published 04 Oct, 2023 11:20pm

Markets

Businesses laud Pakistan govt’s measures against ‘misuse of Afghan Transit Trade’

Business bodies including the Pakistan Business Council (PBC) and the All Pakistan Textile Mills Limited (APTMA)...

Updated 04 Oct, 2023 10:46pm

Forex

Rupee sees 20th consecutive gain, settles at 284.68 against US dollar

Local currency has appreciated 7.9% since it hit a record low of 307.1 in inter-bank market on Sept 5

Updated 04 Oct, 2023 10:45pm

Pakistan

Shehbaz says Nawaz returning to start process of prosperity, development

PML-N president says Nawaz is not coming back for revenge

Updated 04 Oct, 2023 10:44pm

Cotton & Textile

Pakistan’s textile exports plunge 12% year-on-year in September: APTMA

On a monthly basis, exports decrease nearly 8% in comparison to August

Updated 04 Oct, 2023 10:44pm

Stocks

KSE-100 goes past 47,000, hits 5-week high

The Pakistan Stock Exchange (PSX) witnessed a positive session on Wednesday, as its benchmark KSE-100 Index closed...

Updated 04 Oct, 2023 10:43pm

Energy

Pakistan seeking Middle East investment & tech in energy sector: minister

Pakistan’s Caretaker Minister of Energy, Power and Petroleum, Muhammad Ali has said that the country is seeking...

Updated 04 Oct, 2023 10:42pm

Pakistan

PTI leader Usman Dar announces to quit party, politics

In another blow for Pakistan Tehreek-e-Insaf (PTI), Usman Dar on Wednesday announced to leave the party as well as...

Published 04 Oct, 2023 10:34pm

Pakistan

Child among two dead in Afghan forces' ‘unprovoked’ firing at Chaman border: ISPR

Afghan authorities have been approached to inquire about the reason for such irresponsible and reckless act, the military's media wing says

Updated 04 Oct, 2023 10:13pm

Technology

Google launches Pixel 8, smartwatch with new AI feature

Alphabet’s Google on Wednesday launched Pixel 8 smartphones and a new smartwatch that integrate its artificial...

Published 04 Oct, 2023 09:34pm

Bullion Rate

Bull out of bullion: Pakistan’s gold market is in disarray

Crackdown 'disrupts' business activity as traders find it difficult to 'operate'

Published 04 Oct, 2023 08:35pm

Europe

US to send seized Iranian weapons, ammunition to Ukraine: official

WASHINGTON: The United States is expected to soon announce that it will send seized Iranian small arms and...

Published 04 Oct, 2023 08:30pm

Forex

Fragile yen slightly higher as intervention talk in focus; US dollar dips

LONDON/NEW YORK: The yen was little changed to modestly higher on Wednesday against the US dollar, moving away from...

Published 04 Oct, 2023 08:20pm

Europe

Ukraine’s economy set to continue to grow next year, deputy head of IMF mission

KYIV: Ukraine’s economy is adapting well to the wartime environment following Russia’s invasion and growth will...

Published 04 Oct, 2023 08:17pm

Energy

Oil falls more than $3 on demand fears, Saudi confirms cuts to year-end

Brent trades at lowest since September 1 during the session, with an intraday low of $87.55 a barrel

Updated 04 Oct, 2023 08:12pm

Technology

Google to combine generative AI chatbot with virtual assistant

Google on Wednesday announced plans to add generative artificial intelligence (AI) capabilities to its virtual...

Published 04 Oct, 2023 07:38pm

Business & Finance

First Dubai Business Forum to focus on trade with emerging markets, FDI and globalisation

Event will unite key public and private sector stakeholders to network and 'forge significant deals'

Published 04 Oct, 2023 07:35pm

Stocks

US stocks rise as Treasury yields pull back

NEW YORK: Wall Street stocks climbed early Wednesday after a weak US private employment report was seen as easing...

Published 04 Oct, 2023 07:34pm

Cricket

‘It’s like we’re at home’: Pakistan’s Babar Azam surprised by Indian welcome

AHMEDABAD: Pakistan skipper Babar Azam said Wednesday his team “was not expecting” the warm reception they have...

Published 04 Oct, 2023 06:50pm

Energy

Pakistan LNG gets bids from Vitol, Trafigura for December cargoes

Pakistan LNG Ltd (PLL) received bids from commodity traders Vitol and Trafigura for their latest tender, seeking two...

Updated 04 Oct, 2023 06:49pm

Football

UK and Ireland set to host Euro 2028 after Turkiye withdraws bid

LAUSANNE: A joint bid from the United Kingdom and Ireland to host Euro 2028 now has no rivals after Turkiye withdraw...

Published 04 Oct, 2023 06:06pm

Forex

Open-market: rupee’s upwards march continues

The Pakistani rupee maintained its momentum against the US dollar in the open-market on Wednesday as the gap with...

Updated 04 Oct, 2023 06:03pm

Europe

Turkiye says Ankara attack assailants trained in Syria

ISTANBUL: Turkiye said on Wednesday that two suspected Kurdish militants who died while staging a weekend attack in...

Published 04 Oct, 2023 06:03pm

South Asia

Afghan refugees not involved in Pakistan’s security problems: Taliban

Taliban administration spokesman says behavior of Pakistan against Afghan refugees is unacceptable

Updated 04 Oct, 2023 06:01pm

South Asia

India hikes cooking gas subsidy for second time in just over a month

NEW DELHI: India increased the cooking gas subsidy for low income households to 300 rupees per cylinder from 200...

Published 04 Oct, 2023 05:55pm

Commodities

Copper sinks to four-month low on growth worries, rising stocks

Copper prices slumped to their lowest in more than four months on Wednesday on concerns about global growth after...

Published 04 Oct, 2023 05:46pm

Movies & Music

Actor Mahira Khan details her Bhurban wedding

Pakistani actor Mahira Khan recently tied the knot in a small ceremony in Bhurban, Islamabad. On Tuesday, she shared...

Updated 04 Oct, 2023 05:42pm

Energy

OPEC+ panel holds oil policy steady as Saudi keeps oil cuts

LONDON/MOSCOW/DUBAI: An OPEC+ ministerial panel which met on Wednesday made no changes to the group’s current oil...

Published 04 Oct, 2023 05:41pm

Cricket

Stokes doubtful for World Cup opener with hip injury

AHMEDABAD: England star Ben Stokes could miss the World Cup opener against New Zealand due to a hip injury with...

Published 04 Oct, 2023 05:36pm

Europe

France’s Macron promises more referendums

PARIS: French President Emmanuel Macron said Wednesday he would broaden the range of topics that can be voted on in...

Published 04 Oct, 2023 05:31pm

Luxury

Sean McGirr named as creative director of Alexander McQueen

PARIS: Sean McGirr was named by French luxury goods group Kering as creative director of British label Alexander...

Published 04 Oct, 2023 05:30pm

Europe

Ukraine strikes Russian air defence complex near Belgorod with drones: Kyiv source

Ukraine carried out a drone attack on the western Russian region of Belgorod overnight and hit an S-400 air defence...

Published 04 Oct, 2023 04:53pm

Pakistan

Cipher case: IHC rules Imran’s bail plea to be heard in open court

Hearing to be held on October 9

Published 04 Oct, 2023 03:46pm

World

Pakistan among developing countries facing a debt crunch

LONDON: High interest rates, growing investor risk aversion and borrowing that ballooned in recent years have left a...

Published 04 Oct, 2023 03:43pm

Stocks

Indian shares slip to a more than 1-mth low; small-, mid-caps underperform

BENGALURU: Indian shares fell to a more than one-month low on Wednesday on broad-based selling, as fears over higher...

Published 04 Oct, 2023 03:22pm

Energy

Saudi Arabia to continue voluntary cut of one million bpd

DUBAI: Saudi Arabia on Wednesday said it would continue with its voluntary oil output cut of one million barrels per...

Published 04 Oct, 2023 02:26pm

Companies

UK supermarket Tesco says profits surge as costs drop

LONDON: Britain’s largest retailer Tesco on Wednesday said half-year net profit soared on slashed costs, and...

Published 04 Oct, 2023 02:15pm

Stocks

Gulf shares drop in early trade on weaker oil prices

Most stock markets in the Gulf were down in early trade on Wednesday, following declines in oil prices amid worries...

Published 04 Oct, 2023 02:06pm

Stocks

Hong Kong stocks extend losses as rising US yields weigh

HONG KONG: Hong Kong stocks extended losses to a second session on Wednesday as a sell-off in global bond markets...

Published 04 Oct, 2023 02:02pm

Luxury

Chanel shows mismatched hems and flip-flops at Paris Fashion Week

PARIS: Chanel designer Virginie Viard unveiled a breezy, warm-weather collection in Paris on a drizzly Tuesday,...

Published 04 Oct, 2023 01:21pm

Stocks

London stocks open lower as commodity stocks drag, Tesco up on forecast lift

UK shares slipped on Wednesday, hurt by a sell-off in mining stocks as prices of most metals continued to fall,...

Published 04 Oct, 2023 01:17pm

Money & Banking

Ukraine central bank to improve 2023 inflation, GDP forecasts on robust agriculture

KYIV: Ukraine’s central bank will improve its forecasts for inflation and gross domestic product growth for this...

Published 04 Oct, 2023 01:14pm

Pakistan

Cipher case: special court adjourns hearing till Oct 9

Special Court Judge Abual Hasnat Zulqarnain presides over today’s hearing at Adiala Jail

Published 04 Oct, 2023 12:56pm

Commodities

Japanese futures rise amid weaker Nikkei, Asian stocks

SINGAPORE: Japanese rubber futures rose on Wednesday after a substantial dip in the previous session, even as the...

Updated 04 Oct, 2023 01:13pm

Forex

Rouble steadies near 100 vs dollar as market awaits possible state support

The rouble steadied on Wednesday, trading close to the 100 level against the dollar it breached in the previous...

Published 04 Oct, 2023 01:09pm

Middle East

Dubai luxury home sales hit $1.6bn in Q3, property consultancy says

DUBAI: Sales of homes worth $10 million or more in Dubai hit about $1.6 billion in the third quarter, according to...

Published 04 Oct, 2023 01:06pm

Movies & Music

David Beckham takes family to premiere of candid new Netflix documentary about his life

LONDON: David Beckham turned the premiere of his new Netflix documentary into a family affair on Tuesday as the...

Published 04 Oct, 2023 01:04pm

Currency

Kenyan shilling stable; seen weakening on higher importer FX demand

NAIROBI: Kenya’s shilling was stable on Wednesday and traders said they expected it to weaken during the session due...

Published 04 Oct, 2023 01:00pm

Europe

French services sector shrinks less than first thought in Sept

PARIS: France’s services sector shrank slower than first estimated in September but still at the fastest rate in...

Published 04 Oct, 2023 12:58pm

Companies

UK’s Superdry sells S. Asia licenses to India’s Reliance Retail for $48mn

BENGALURU: Reliance Retail, India’s largest retailer, will buy UK-based Superdry’s licenses and brand assets in...

Published 04 Oct, 2023 12:55pm

Stocks

European stocks fall further at open

LONDON: Europe’s stock markets opened lower Wednesday in a global sell-off after robust US employment data and...

Published 04 Oct, 2023 12:51pm

Money & Banking

Taiwan central bank flags forex intervention if ‘extreme’ fluctuations

TAIPEI: Taiwan’s central bank will intervene in the foreign exchange market if there are “extreme” fluctuations to...

Published 04 Oct, 2023 12:29pm

Currency

South African rand falls further before whole-economy PMI

JOHANNESBURG: The South African rand lost more ground in early trade on Wednesday against a rising dollar, ahead of...

Published 04 Oct, 2023 12:25pm

Stocks

South Korean shares end over 2% lower as surging US bond yields weigh

KOSPI closed down 59.38 points, or 2.41%, at 2,405.69

Published 04 Oct, 2023 12:22pm

USA

Five injured in Baltimore campus shooting

WASHINGTON: At least five people were injured in a shooting on a university campus in the eastern US city of...

Published 04 Oct, 2023 12:13pm

Stocks

Japan’s Nikkei declines to over four-month low as US yields surge

TOKYO: Japan’s Nikkei share average fell to an over four-month low on Wednesday, tracking overnight Wall Street...

Updated 04 Oct, 2023 12:06pm

South Asia

Thai business group keeps 2023 growth forecast at 2.5%-3%

BANGKOK: Thailand’s economy is expected to grow between 2.5% and 3.0% this year, a leading joint business group said...

Published 04 Oct, 2023 12:02pm

Money & Banking

India central bank seen holding rates steady Friday but striking hawkish tone

MUMBAI: India’s monetary policy committee is widely expected to keep key rates on hold when it announces its...

Published 04 Oct, 2023 11:59am

Companies

Exxon Mobil to sell its majority stake in Italy LNG terminal to BlackRock

HOUSTON: Exxon Mobil Corp chose BlackRock as the potential buyer for its majority stake in Italy’s main liquefied...

Published 04 Oct, 2023 11:43am

Currency

Indian rupee weakens but losses seen capped as traders avoid testing RBI

MUMBAI: The Indian rupee weakened on Wednesday tracking Asian peers. However, its losses were contained on concerns...

Published 04 Oct, 2023 11:39am

Stocks

Australian shares plunge to 11-month low on rate hike worries

Australian shares closed at an 11-month low on Wednesday as the domestic central bank’s hawkish comments and a...

Updated 04 Oct, 2023 11:36am

Cricket

Afghan ‘superstars’ dump holders Sri Lanka out of Asian Games cricket

HANGZHOU: Afghanistan skipper Gulbadin Naib hailed his “superstar” side Wednesday after they beat defending...

Published 04 Oct, 2023 11:25am

3rd Belt and Road Forum: Over 2 dozen pacts likely to be signed

National Development and Reform Commission of China has proposed to sign MoUs during caretaker PM's visit to Beijing

Updated 04 Oct, 2023 11:18am

Energy

Russia may lift ban on pipeline diesel exports in coming days

The Russian government is ready to partially lift its ban on diesel exports in coming days, the daily Kommersant...

Published 04 Oct, 2023 11:14am

South Asia

India, Japan launch $600mn fund for low carbon emission projects

NEW DELHI: India’s quasi-sovereign wealth fund, the National Investment and Infrastructure Fund (NIIF), and the...

Published 04 Oct, 2023 11:05am

South Asia

China says welcomes US congressional visit

BEIJING: Beijing said on Wednesday it welcomed an upcoming visit to China by US Senate Majority Leader Chuck Schumer...

Published 04 Oct, 2023 10:24am

Financial

Indian bond yields may rise amid relentless spike in US peers

MUMBAI: Indian government bond yields are expected to trend higher in the early session on Wednesday amid a...

Published 04 Oct, 2023 10:09am

Fiscal adjustment hamstrung by interest payments

Ministry of Planning, Development and Special Initiatives says economy has slowly and steadily started recovering from the downturn in growth

Updated 04 Oct, 2023 10:00am

Customs agents, transporters: FBR seeks bank guarantees for Afghan transit goods

ISLAMABAD: The Federal Board of Revenue (FBR) has directed Customs agents/ brokers and transport operators in...

Updated 04 Oct, 2023 09:59am

Technology

ECC approves telecom infrastructure- sharing framework

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved first ever Telecom Infrastructure...

Updated 04 Oct, 2023 09:56am

Special forensic audit of SSGCL, Pesco, Hesco ordered

ISLAMABAD: Finance Division has directed the authorities to conduct special forensic audit of Peshawar Electric...

Updated 04 Oct, 2023 09:56am

Markets

JGB yields cling to 10-year highs despite BOJ intervention

TOKYO: The Bank of Japan (BOJ) conducted an emergency bond purchase on Wednesday, offering to buy more bonds than at...

Published 04 Oct, 2023 09:55am

Commodities

Palm opens lower, hit by weak overseas demand

NEW DELHI: Malaysian palm oil futures opened lower on Wednesday, dragged down by weak demand from top overseas...

Published 04 Oct, 2023 09:53am

South Asia

Nearly two dozen Indian troops missing after flash flood

NEW DELHI: Twenty-three Indian troops were missing on Wednesday after a flash flood caused by a cloudburst in the...

Published 04 Oct, 2023 09:46am

Companies

TRG says ‘any association with Zia Chishti’ would damage value of company’s underlying assets

Remarks come in notice to PSX after 'newspaper advertisements published by Chishti attempting to requisition an extraordinary general meeting of TRG Pakistan Limited'

Published 04 Oct, 2023 09:43am

Commodities

Gold fragile on lofty US dollar and yields; palladium at 5-year low

Gold prices headed back towards seven-month lows on Wednesday as an ascending dollar and bond yields after strong...

Published 04 Oct, 2023 09:41am

Technology

‘GITEX GLOBAL 2023’ in Dubai: Pakistan companies look to build on last year’s successes

KARACHI: Some 48 Pakistani companies are registered to exhibit at the 43rd edition of GITEX GLOBAL this year in...

Updated 04 Oct, 2023 09:29am

Stocks

Indian shares open lower as US rate concerns weigh

BENGALURU: Indian shares opened lower on Wednesday, tracking a fall in Asian peers, as fresh economic data spurred...

Published 04 Oct, 2023 09:22am

Commodities

Copper hovers below $8,000/T on firm dollar, high inventory

Copper prices fell on Wednesday, staying below a supportive level of $8,000 a metric ton, as a firm dollar and...

Published 04 Oct, 2023 09:21am

Forex

Yen cowers near 150 as Japanese intervention chatter runs rife

SINGAPORE: The yen sat on the stronger side of 150 per dollar on Wednesday, after an unexpected surge in the...

Published 04 Oct, 2023 09:19am

Certain tax policies discourage investment in tradable sector: World Bank

ISLAMABAD: Certain tax policies in Pakistan discourage investment in the tradable sector, and certain investment...

Updated 04 Oct, 2023 09:15am

Afghan transit commercial goods: FBR slaps 10pc processing fee on 5 categories

ISLAMABAD: The Federal Board of Revenue (FBR) has imposed 10 percent processing fee on five major categories of...

Updated 04 Oct, 2023 09:04am

Business & Finance

Dubai a ‘natural’ fit for Pakistanis looking to buy property abroad

Pakistanis have a huge interest in buying real estate in Dubai due to factors including proximity and “close ties”...

Updated 04 Oct, 2023 09:04am

BR Research

Food inflation: is this the peak?

The monthly inflation report card has brought no reason for respite for the policy makers. The deceleration in...

Published 04 Oct, 2023 08:53am

BR Research

Autos: Demand-side now in play

Continued and persistent supply restrictions facing automobile assemblers importing vital raw materials in order to...

Published 04 Oct, 2023 08:51am

BR Research

Shezan International Limited

Shezan International Limited (PSX: SHEZ) is a public limited company incorporated in Pakistan. SHEZ started its...

Published 04 Oct, 2023 08:48am

BR’s refresher: your morning briefing for the day

Important updates from October 3, 2023

Published 04 Oct, 2023 08:43am

World Bank projects primary balance at negative 0.4pc

ISLAMABAD: The World Bank has projected a primary balance for Pakistan at negative 0.4 percent (-0.4) for the...

Updated 04 Oct, 2023 08:36am

Pakistan

Illegal immigrants asked to leave country by Nov 1: Afghan nationals involved in terrorist attacks: Bugti

ISLAMABAD: Caretaker Interior Minister Sarfaraz Ahmed Bugti, on Tuesday, said that Afghan nationals were found...

Updated 04 Oct, 2023 08:35am

‘FPA, QTA in power bills’: SC issues notices to AGP, respondents

ISLAMABAD: The Supreme Court issued notice to the Attorney General for Pakistan (AGP) and respondents in petitions...

Updated 04 Oct, 2023 08:34am

Opinion

No more business as usual-I

It is stated that Pakistan requires a sustained GDP growth of 7-9% for 30 years, increase focus on reducing...

Updated 04 Oct, 2023 06:58am

Opinion

ChatGPT as pivot for digital healthcare professionals

30th November 2022 heralded the dawn of a major paradigm shift in the machine-based learning world. On that fateful...

Updated 04 Oct, 2023 06:52am

Opinion

Anatomisation of power tariff

Power Sector as a whole and specifically the electricity tariff is under discussion every day. All and sundry are...

Updated 04 Oct, 2023 06:48am

Pakistan

IK’s security: IHC removes Registrar’s objections over Bushra’s petition

ISLAMABAD: The Islamabad High Court (IHC), Tuesday, removed Registrar Office’s objections over Chairman Pakistan...

Published 04 Oct, 2023 06:41am

Pakistan

‘Those who are afraid of people’s court are running away from polls’: PPP

ISLAMABAD: Pakistan People’s Party (PPP) Tuesday said those who are afraid of the people’s court want to escape...

Published 04 Oct, 2023 06:38am

Pakistan

Ministry allows trial of PTI chairman in Adiala Jail premises

ISLAMABAD: Following the request of the special court judge, the Ministry of Law and Justice, on Tuesday, allowed...

Published 04 Oct, 2023 06:37am

Pakistan

Alvi calls for increasing women’s participation in workforce

ISLAMABAD: President Dr Arif Alvi Tuesday said there is need for increasing women’s participation in the ...

Published 04 Oct, 2023 06:34am

Pakistan

NDMA chief for formulating ‘National Development Goals’

ISLAMABAD: Chairman, National Disaster Management Authority (NDMA), Lieutenant General Inam Haider Malik on Tuesday...

Published 04 Oct, 2023 06:32am

Editorials

Milking the system for what it is worth

EDITORIAL: During a press briefing in Washington DC, Julie Kozack, Director of Communications International Monetary...