News Archives for Latest - 2023-10-05

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Archive - 2023-10-05

World

Putin says skipped BRICS summit to avoid 'political show'

MOSCOW: Russian President Vladimir Putin said on Thursday he skipped a BRICS summit in South Africa because he did...

Published 05 Oct, 2023 11:13pm

USA

Biden says 'can't stop' building of more Mexico border wall

WASHINGTON: US President Joe Biden defended his administration's plans to add to the border wall with Mexico...

Published 05 Oct, 2023 11:07pm

World

UN chief 'strongly condemns' strike on Ukraine village

UNITED NATIONS: The head of the United Nations "strongly condemns" a Russian strike that killed at least 51 people...

Published 05 Oct, 2023 11:01pm

Stocks

KSE-100 adds another 373 points to extend gains for 4th session

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index extended gains for the fourth straight session on...

Updated 05 Oct, 2023 10:46pm

Pakistan

Action against illegal immigrants not targeting any particular nationality: FO

Spokesperson says Pak-Afghan bilateral trade continues but Pakistan will not accept the misuse of existing trade facilities

Updated 05 Oct, 2023 10:43pm

Currency

Rupee registers 21st successive gain, settles at 283.62 against US dollar

Local currency has appreciated 8.3% since it hit a record low of 307.1 in inter-bank market on Sept 5

Updated 05 Oct, 2023 10:42pm

Money & Banking

Bank deposits in Pakistan are perfectly safe, clarifies SBP

Central bank's statement comes after certain sections of the media, on basis of a statement given by a deputy governor SBP, imply as if bank deposits above Rs500,000 are unsafe

Updated 05 Oct, 2023 10:41pm

Pakistan

FM Jilani meets Afghan counterpart to discuss regional peace challenges

Foreign minister underlines Pakistan's commitment to improving bilateral ties with Afghanistan

Updated 05 Oct, 2023 10:36pm

South Asia

India says Afghan embassy still open despite suspension announcement

NEW DELHI: Afghanistan’s embassy in New Delhi continues to function, India’s foreign ministry said on Thursday, days...

Updated 05 Oct, 2023 10:35pm

Energy

Oil prices fall again; demand worries outweigh tight supply

HOUSTON: Oil prices dipped on Thursday as an uncertain demand outlook overshadowed an OPEC+ decision to maintain oil...

Updated 05 Oct, 2023 08:45pm

Cricket

Conway, Ravindra help New Zealand crush England in World Cup opener

AHMEDABAD: Devon Conway and Rachin Ravindra smashed centuries to power New Zealand to a crushing nine-wicket win...

Updated 05 Oct, 2023 08:41pm

Cricket

De Leede hopes Dutch can tame Pakistan quick Shaheen Shah Afridi

HYDERABAD: Netherlands all-rounder Bas de Leede said his team have done their homework to try and counter star...

Published 05 Oct, 2023 08:38pm

Forex

Pakistan’s central bank reserves decrease $21mn, now stand at $7.615bn

Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased by another $21 million on a weekly...

Published 05 Oct, 2023 08:31pm

Europe

Putin says Russia’s mission is to create ‘new world’

MOSCOW: President Vladimir Putin said Thursday that Russia’s mission was to create a “new world” and blamed Western...

Published 05 Oct, 2023 08:21pm

Stocks

US stocks dip as market struggles to extend rally

NEW YORK: Wall Street stocks edged down early Thursday as the market struggled to extend the prior session’s uptick...

Published 05 Oct, 2023 07:58pm

Cricket

Pakistan eye two wins before ‘unbelievable India spectacle’

HYDERABAD: Pakistan coach Mickey Arthur hopes his team will have two wins under their belts before they face old...

Published 05 Oct, 2023 07:55pm

Energy

Pakistan LNG awards tender to Vitol, first spot purchase in over a year

Pakistan LNG Limited (PLL) awarded a tender to commodities trader Vitol for the delivery of a liquefied natural gas...

Updated 05 Oct, 2023 07:54pm

Forex

Open-market: rupee registers yet another gain against US dollar

The Pakistani rupee continued its upward trajectory against the US dollar in the open-market on Thursday as the gap...

Updated 05 Oct, 2023 07:51pm

Football

Messi called up for Argentina qualifiers despite injury

BUENOS AIRES: Argentina have called up Lionel Messi for their upcoming South American World Cup qualifiers despite...

Published 05 Oct, 2023 07:51pm

Energy

OGRA recognises industry efforts on safe refuelling of two- and three-wheeler vehicles

The Oil and Gas Regulatory Authority (OGRA) is Pakistan’s regulatory body that oversees the oil and gas industry and...

Published 05 Oct, 2023 07:12pm

Business & Finance

US trade deficit narrows to nearly three-year low in August

WASHINGTON: The U.S. trade deficit narrowed more than expected in August as exports increased solidly, likely...

Published 05 Oct, 2023 07:10pm

Middle East

World Bank sees Saudi economy contracting in 2023, MENA growth sharply lower

DUBAI: The World Bank expects Saudi Arabia’s economy to contract by 0.9% in 2023, it said in a report on Thursday,...

Published 05 Oct, 2023 06:58pm

Europe

Russian attack kills 49 in northeast Ukraine, Ukrainian officials say

KYIV: A Russian attack killed at least 49 people, including a six-year-old boy, in a village in the Kharkiv region...

Published 05 Oct, 2023 06:47pm

Travel

London ranked first, Dubai at 6th place among top cities to live and prosper in 2024

London, Paris and New York City completed the podium, while Dubai was ranked at sixth place among the world’s top 10...

Published 05 Oct, 2023 06:38pm

USA

‘The Donald Trump show is over’: New York attorney general

NEW YORK: New York Attorney General Letitia James hit back at Donald Trump on Wednesday over his virulent attacks on...

Published 05 Oct, 2023 06:15pm

South Asia

Ad spend of $3,600 a second: global brands set to splurge at ICC World Cup in India

Coca Cola, Emirates, Google among those vying for visibility in world's most populous nation

Published 05 Oct, 2023 06:06pm

Europe

Ukraine says over 26,000 missing since Russia invaded

KYIV: Ukraine said Thursday that over 26,000 people, including many civilians, were still unaccounted for since...

Published 05 Oct, 2023 05:44pm

Technology

Musk’s X strips headlines from news links

PARIS: Elon Musk’s social media platform X has stripped headlines from news articles shared by users, in a move...

Published 05 Oct, 2023 05:36pm

Cricket

India’s obsession with cricket peaks with home World Cup

NEW DELHI: The 13th edition of the 50-over World Cup got under way in Ahmedabad on Thursday heralding six weeks of...

Published 05 Oct, 2023 05:25pm

Forex

Dollar rally pauses for breath in reprieve for yen, euro

LONDON: The yen and euro received some much needed relief on Thursday as the dollar and U.S. Treasury yields both...

Published 05 Oct, 2023 05:18pm

Europe

Zelenskiy asks Europe for more help against Russia

GRANADA: President Volodymyr Zelenskiy told more than 40 European leaders gathered in Spain he was confident of...

Published 05 Oct, 2023 05:15pm

Commodities

Palm ends lower on weaker demand from top buyers India, China

NEW DELHI: Malaysian palm oil futures closed lower on Thursday due to a drop in overseas demand for the tropical oil...

Published 05 Oct, 2023 05:12pm

Commodities

Soybeans and corn ease as US harvest weighs

PARIS/SINGAPORE: Chicago soybean and corn futures eased on Thursday as an advancing U.S. harvest underscored ample...

Published 05 Oct, 2023 05:08pm

Forex

South African rand falls as markets await US employment data

JOHANNESBURG: The South African rand fell on Thursday as analysts rued the weakness of the local currency and...

Published 05 Oct, 2023 05:06pm

Literature

Norwegian author Jon Fosse wins 2023 Nobel Prize in Literature

STOCKHOLM: Norwegian author and dramatist Jon Fosse won the 2023 Nobel Prize in Literature “for his innovative plays...

Published 05 Oct, 2023 04:17pm

Markets

Pakistani ecommerce logistics startup Rider looking to acquire BlueEx

KARACHI: Pakistani ecommerce logistics startup Rider, backed by YCombinator, is looking into acquiring BlueEx, the...

Updated 05 Oct, 2023 04:17pm

Stocks

London stocks post first gain in four days as US yields ease; Metro Bank sinks

UK shares were set to snap a three-day losing streak on Thursday as the pullback in U.S. bond yields and the dollar...

Published 05 Oct, 2023 02:58pm

Stocks

Hong Kong stocks rebound from 11-month low as U.S. yields off peak

Hong Kong stocks rebounded from an 11-month low to end slightly higher on Thursday, tracking firmer overseas markets...

Published 05 Oct, 2023 02:56pm

Stocks

Major Gulf markets fall on U.S. rate concerns

Major stock markets in the Gulf fell in early trade on Thursday amid concerns about the Federal Reserve’s interest...

Published 05 Oct, 2023 02:54pm

Sports

Dubai, Real Madrid sign ‘game-changing’ deal

Aim is to bring ‘special fan moments and unique experiences’

Published 05 Oct, 2023 02:32pm

South Asia

Indian police widen probe into funding of news portal

NEW DELHI: Indian police expanded on Thursday an investigation into suspected illegal foreign funding of a news...

Published 05 Oct, 2023 02:40pm

Europe

Ukraine’s Zelensky in Spain for European summit

KYIV: Ukrainian President Volodymyr Zelensky said on Thursday he was in the Spanish city of Granada for a summit...

Published 05 Oct, 2023 02:24pm

Sports

Gauff glides into China Open quarter finals

BEIJING: US Open champion Coco Gauff shook off an indifferent first-set performance to glide into the women’s...

Published 05 Oct, 2023 02:17pm

Commodities

Copper set for 4th straight fall on high inventory, firm dollar

Copper prices were on track for a fourth straight session of declines, pressured by rising inventories and a firm...

Published 05 Oct, 2023 01:45pm

Currency

Russian rouble hovers close to 100 vs dollar

The Russian rouble hovered around 99.5 to the dollar on Thursday, struggling to pull away from the 100 threshold it...

Published 05 Oct, 2023 01:41pm

Luxury

Prada and Axiom Space collaborate to design NASA’s lunar spacesuits

MILAN: talian luxury group Prada and Texas-based startup Axiom Space will collaborate to design NASA’s lunar...

Published 05 Oct, 2023 01:40pm

BR Research

Smuggling curbs

State authorities are cracking down on smuggled products seeping through the borders, in part to bring some sanity...

Updated 05 Oct, 2023 01:36pm

Commodities

Putin orders regulated prices for fuel oil in some Russian regions

MOSCOW: Russian President Vladimir Putin has ordered the government to provide state funds to ensure a smooth...

Published 05 Oct, 2023 01:35pm

Europe

French army says to begin Niger withdrawal ‘this week’

PARIS: French troops will begin withdrawing from Niger “this week”, Paris said Thursday, after a falling-out with...

Published 05 Oct, 2023 12:57pm

Stocks

European stocks creep higher at open

LONDON: Europe’s stock markets opened higher Thursday, mirroring modest gains earlier in Asia and overnight on Wall...

Published 05 Oct, 2023 12:31pm

Currency

Indian rupee flat as local US dollar demand counters softer greenback

MUMBAI: The Indian rupee was little changed on Thursday, despite Asian peers moving higher, as U.S. dollar demand...

Published 05 Oct, 2023 12:25pm

Stocks

Japan’s Nikkei snaps five-day losing streak as US yields ease

TOKYO: Japan’s Nikkei share average snapped a five-day losing streak to record its biggest one-day percentage jump...

Updated 05 Oct, 2023 12:15pm

Middle East

Israeli troops kill two Palestinians in West Bank clash

TULKARM: Israeli troops killed two Palestinians during a clash with gunmen in the occupied West Bank on Thursday,...

Published 05 Oct, 2023 12:11pm

Stocks

Australian shares end higher, investors eye US jobs data

Australian shares closed higher on Thursday, lifted by a rally in gold and tech stocks as a softer rise in U.S....

Updated 05 Oct, 2023 11:30am

Money & Banking

Philippine central bank ready to resume tightening as inflation rate quickens

MANILA: The Philippine central bank said on Thursday it was ready to resume tightening monetary policy after...

Published 05 Oct, 2023 11:24am

50bps hike in policy rate adds Rs300bn to domestic debt: MoF

ISLAMABAD: The Finance Ministry has disclosed that 0.5 percent (50 basis points) increase in interest rate...

Updated 05 Oct, 2023 11:06am

Cricket

Bangladesh hope Shakib can inflict more World Cup misery on Afghanistan

DHARAMSALA: Bangladesh captain Shakib Al Hasan leads his side into their World Cup opener against Afghanistan in...

Published 05 Oct, 2023 10:31am

USA

IMF, World Bank to tackle climate goals among reforms at annual meetings

WASHINGTON: The World Bank and International Monetary Fund will tackle the thorny issue of institutional reform at...

Published 05 Oct, 2023 10:24am

Forex

Australia, NZ dollars get much-needed bounce, outlook still bearish

SYDNEY: The Australian and New Zealand dollars saw a reprieve from selling pressure on Thursday after a pullback in...

Published 05 Oct, 2023 10:05am

Money & Banking

Sri Lanka resumes rate cuts to boost growth as inflation cools

COLOMBO: Sri Lanka’s central bank resumed interest rate cuts on Thursday to boost growth and as the government seeks...

Published 05 Oct, 2023 10:00am

South Asia

Fourteen dead, 102 missing after Indian glacial lake bursts bank in heavy rain

NEW DELHI: At least 14 people were killed and 102, including 22 army personnel, were missing in northeast India on...

Published 05 Oct, 2023 09:57am

USA

US budget fight could create opening for China in the Pacific

WASHINGTON: A 45-day stopgap measure passed by the U.S. Congress to avert a government shutdown has left potential...

Published 05 Oct, 2023 09:53am

First review under SBA becomes due: Ministries spurred into action

Ministry of Finance asks all ministries to implement all the commitments made with the International Monetary Fund

Updated 05 Oct, 2023 09:47am

FBR asked to probe solar panel import scam

ISLAMABAD: The Senate Standing Committee on Finance directed the Federal Board of Revenue (FBR), on Wednesday, to...

Updated 05 Oct, 2023 09:46am

South Asia

Thai Sept headline CPI up 0.3% y/y, slower than forecast

BANGKOK: Thailand’s headline consumer price index (CPI) rose 0.3% in September from a year earlier, slowing from a...

Published 05 Oct, 2023 09:44am

Afghanistan transit trade agreement: MoC allows transportation of goods already landed at Karachi

ISLAMABAD: Ministry of Commerce has allowed transportation of fabrics, tyres, black tea, cosmetics, toiletries,...

Updated 05 Oct, 2023 09:43am

Commodities

Gold set to break longest losing streak in 7 years as bond selloff cools

Gold edged higher on Thursday, set to end its eight-session-long losing streak, last seen around the same time in...

Published 05 Oct, 2023 09:42am

Companies

66.4pc shares of KE: SEP to be given fresh offer: adviser

KARACHI: As Shanghai Electric Power (SEP) has renewed its commitment to acquire 66.40% shares in K-Electric (KE) for...

Updated 05 Oct, 2023 09:41am

Pakistan

Orders that may affect taxpayers: SC asks FBR to gazette, display on website

ISLAMABAD: The Supreme Court (SC) has ordered the Federal Board of Revenue (FBR) to gazette all notifications,...

Updated 05 Oct, 2023 09:39am

Commodities

Palm oil futures open lower as overseas demand drops

NEW DELHI: Malaysian palm oil futures opened lower on Wednesday, hurt by a drop in overseas demand for the tropical...

Published 05 Oct, 2023 09:39am

Energy

Jan-Jun 2024: PPRA allows PLL to buy 12 LNG spot cargoes

ISLAMABAD: The Public Procurement Regulatory Authority (PPRA) has allowed Pakistan LNG Limited (PLL) to procure 12...

Updated 05 Oct, 2023 09:36am

Stocks

Indian shares open higher as U.S. yields, oil prices ease

BENGALURU: Indian shares opened higher on Thursday as the relentless surge in U.S. Treasury yields and oil prices...

Published 05 Oct, 2023 09:31am

Forex

Yen gets some relief as dollar pulls back after private payrolls report

TOKYO: The yen received some much needed relief on Thursday as the dollar settled back and U.S. Treasury yields...

Published 05 Oct, 2023 09:27am

‘Washing preparation’: FBR to charge 20pc import duty

ISLAMABAD: The Federal Board of Revenue (FBR) will charge 20 percent customs duty on the import of ‘washing...

Updated 05 Oct, 2023 09:12am

BR Research

WPI: Non-food prices take over

The Wholesale Price Index (WPI) registered another month-on-month increase – for the fourth month running – clocking...

Published 05 Oct, 2023 08:59am

BR Research

Hafiz Limited

Hafiz Limited (PSX: HAFL) was incorporate in Pakistan as a public limited company in 1951. Initially the company was...

Published 05 Oct, 2023 08:53am

SIFC forum for fast-tracking sell-off process

ISLAMABAD: Special Investment Facilitation Council (SIFC) Apex Committee has resolved with consensus on...

Updated 05 Oct, 2023 08:46am

Companies

SECP revises Companies (Further Issue of Shares) Regulations, 2020

ISLAMABAD: The revised Companies (Further Issue of Shares) Regulations, 2020 would facilitate capital formation and...

Updated 05 Oct, 2023 08:45am

Approval of new tariff for Kapco plant: Nepra in a fix

ISLAMABAD: National Electric Power Regulatory Authority (Nepra) is facing a catch 22 situation with respect to...

Updated 05 Oct, 2023 08:43am

BR’s refresher: your morning briefing for the day

Important updates from October 4, 2023

Published 05 Oct, 2023 08:42am

Opinion

The fossil fuel folly: damned if you have it; damned if you don’t

The world stands at a crossroads, facing a dilemma of unparalleled proportions: the consumption of fossil fuels. In...

Updated 05 Oct, 2023 06:57am

Opinion

No more business as usual—II

Known solutions to our problems start with merit-based governance and justice system adhering to our Constitution....

Updated 05 Oct, 2023 06:51am

Opinion

Bond vigilantes and inversion anxiety

One of Wall Street’s enduring lessons, “inverted yield curves don’t always predict recessions, but all...

Updated 05 Oct, 2023 06:45am

Opinion

PARTLY FACETIOUS: Musharraf wore two hats

“Who would you twin him with?” “Him as in?” “The Chief Justice?” “I would twin the former chief ...

Updated 05 Oct, 2023 06:45am

Editorials

No respite from ever-rising inflation

EDITORIAL: Consumer Price Index (CPI) rose by 4 percentage points in September – 31.4 percent year on year against...

Updated 05 Oct, 2023 06:43am

Business & Finance

PMEX organises ‘World Investor Week’ ceremony

KARACHI: Abdul Rehman Warraich, Commissioner, Securities Market Division Securities and Exchange Commission of...