News Archives for Latest - 2023-10-11

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Archive - 2023-10-11

Industry

Overseas Pakistanis: Progressive Group of LCCI urges govt. to set up authority

LAHORE: Progressive Group in the Lahore Chamber of Commerce & Industry (LCCI) has called upon the government to...

Updated 13 Oct, 2023 11:16pm

Europe

Germany clears use of two Heron TP combat drones by Israel: Spiegel

FRANKFURT: Germany has given Israel the go-ahead to use two Heron TP combat drones in its counter-attack against...

Published 11 Oct, 2023 11:20pm

Pakistan

Elections will not be delayed, says PM Kakar

Premier praises COAS's leadership abilities saying Pakistan's future is in capable and committed hands

Published 11 Oct, 2023 11:16pm

World

White House in active discussions with Israel over safe passage of civilians from Gaza

WASHINGTON: The Biden administration is having active discussions with Israel to help transport Gaza civilians as...

Published 11 Oct, 2023 11:11pm

Europe

Ukraine to get 1.7bn euros from frozen Russian funds: Belgium

BRUSSELS: Ukraine is to receive 1.7 billion euros ($1.8 billion) from taxes on interest generated from Russian funds...

Published 11 Oct, 2023 11:01pm

Pakistan

SOEs running into losses add to economic woes: PM Kakar

Interim prime minister directs for accelerating privatisation process of PIA

Published 11 Oct, 2023 10:58pm

Europe

Russia says 'improved' position around east Ukraine town

MOSCOW: Russia on Wednesday said its forces had strengthened their position on the frontline near Avdiivka, a day...

Published 11 Oct, 2023 10:57pm

World

China urges 'immediate ceasefire' in call with Palestinian official

BEIJING: China's envoy to the Middle East Zhai Jun called for "an immediate ceasefire" to the Israel-Hamas conflict...

Published 11 Oct, 2023 10:52pm

Bullion Rate

Gold price per tola increases Rs6,500 in Pakistan amid surge in international rate

Price of 24-carat bar settles around Rs206,000 per tola

Updated 11 Oct, 2023 09:46pm

USA

Titanic submersible debris, human remains recovered

WASHINGTON: More debris and suspected human remains have been recovered from a privately owned submersible which...

Updated 11 Oct, 2023 09:46pm

Energy

Oil falls after Saudi pledge; investors keep wary eye on Israel

NEW YORK: Oil prices fell over 2% on Wednesday as fears of disruption to supplies due to conflict in the Middle East...

Updated 11 Oct, 2023 09:32pm

Pakistan

In majority verdict, SC upholds law aimed at clipping CJP's wings as 'constitutional'

CJP Qazi Faez Isa says Parliament, Supreme Court can function simultaneously

Updated 11 Oct, 2023 09:30pm

Companies

Changan Pakistan set to export its vehicles to Kenya

Official privy to the matter confirms development

Published 11 Oct, 2023 09:11pm

Cricket

Rohit’s record ton powers India to World Cup win over Afghanistan

NEW DELHI: Captain Rohit Sharma on Wednesday surpassed compatriot Sachin Tendulkar with a record seventh World Cup...

Updated 11 Oct, 2023 09:06pm

Industry

Pakistan’s car sales rise 10% MoM, fall 26% YoY in September

Stand at 8,312 units during the month

Published 11 Oct, 2023 08:47pm

Forex

Inter-bank market: rupee extends winning streak, settles below 280 against US dollar

Local currency has now appreciated for 25 consecutive sessions
Has cumulatively gained 10% since it hit a record low of 307.1 in inter-bank market on Sept 5

Updated 11 Oct, 2023 08:44pm

Business & Economy

Shamshad meets officials from World Bank, Morroco’s central bank

Caretaker finance minister discusses Pakistan's macroeconomic outlook and stabilization measures with WB managing director of operations

Updated 11 Oct, 2023 08:39pm

Stocks

Gulf shares end mixed on dovish Fed tone, Mideast conflict

Stock markets in the Gulf were mixed on Wednesday amid a dovish shift in tone from the U.S. Federal Reserve...

Published 11 Oct, 2023 08:27pm

Europe

Germany urges Qatar to help free Hamas hostages

BERLIN: Germany on Wednesday called on Qatar to mediate the release of hostages taken during a surprise attack on...

Published 11 Oct, 2023 08:02pm

Middle East

Israel PM announces wartime ‘emergency government’ with Gantz

JERUSALEM: Israel’s Prime Minister Benjamin Netanyahu announced Wednesday an “emergency government” with an...

Published 11 Oct, 2023 07:52pm

USA

Yellen sees economic risks from Israel-Palestine conflict, says US always looking at sanctions

MARRAKECH: US Treasury Secretary Janet Yellen said the unprecedented attacks on Israel by Palestinian group Hamas...

Published 11 Oct, 2023 07:38pm

Stocks

KSE-100 extends gains amid talk of gas tariff hike

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

Published 11 Oct, 2023 07:37pm

Middle East

Israel bombs south Lebanon after Hezbollah rocket fire

JERUSALEM/BEIRUT: Israeli shelling hit southern Lebanese towns on Wednesday in response to a fresh rocket attack by...

Published 11 Oct, 2023 07:14pm

Europe

Putin says US is inflaming Middle East by sending aircraft carrier group

MOSCOW: Russian President Vladimir Putin accused the United States on Wednesday of inflaming the Middle East by...

Published 11 Oct, 2023 06:54pm

Middle East

Israel bombs Gaza ahead of potential ground assault

Israel has put Gaza under 'total siege' to stop food and fuel reaching the enclave of 2.3 million people, many poor and dependent on aid

Updated 11 Oct, 2023 06:49pm

Pakistan

SIUT Trust looks to purchase Karachi’s Regent Plaza Hotel for Rs14.5bn

The Sindh Institute Of Urology And Transplantation (SIUT) Trust has expressed its interest to purchase Karachi’s...

Updated 11 Oct, 2023 06:12pm

Forex

Open-market: rupee strengthens further against US dollar

The Pakistani rupee maintained its winning momentum against the US dollar in the open market on Wednesday, a gain...

Updated 11 Oct, 2023 06:09pm

Companies

Exxon secures lead in top US oilfield with $60bn buy of shale rival Pioneer

NEW YORK/HOUSTON: Exxon Mobil agreed to buy U.S. rival Pioneer Natural Resources in an all-stock deal valued at...

Published 11 Oct, 2023 05:47pm

Pakistan

OIC Envoy expresses support for Kashmiris in struggle for self-determination

Yousef M Al Dobeay says OIC has strongly condemned the illegal steps taken by India on 5th August

Published 11 Oct, 2023 05:41pm

Europe

Tayyip Erdogan calls Israeli response to Hamas in Gaza a ‘massacre’

ANKARA: Turkish President Tayyip Erdogan said on Wednesday that Israel’s blockade and bombing of Gaza in retaliation...

Published 11 Oct, 2023 05:40pm

Movies & Music

Margot Robbie, Ryan Gosling set to reunite for ‘Ocean’s 11’ prequel

Summer blockbuster ‘Barbie’ and its success has led to its lead actors, Margot Robbie and Ryan Gosling, being tapped...

Published 11 Oct, 2023 05:22pm

Europe

UK foreign minister Cleverly travels to Israel

LONDON: British foreign minister James Cleverly traveled to Israel on Wednesday to show solidarity with the Israeli...

Published 11 Oct, 2023 05:13pm

Europe

Belgium will send F-16 fighter jets to Ukraine from 2025

BRUSSELS: Belgium will send F-16 fighter jets to Ukraine from 2025 and provide their maintenance, Prime Minister...

Published 11 Oct, 2023 05:07pm

Stocks

Indian shares extend gains as US rate woes ease; TCS results eyed

BENGALURU: Indian shares advanced for the second straight session on Wednesday, in tandem with global markets, on...

Published 11 Oct, 2023 05:01pm

Stocks

Sri Lanka shares end lower as financials, consumer staples drag

BENGALURU: Sri Lankan shares closed lower on Wednesday, dragged by losses in financial and consumer staples...

Published 11 Oct, 2023 04:58pm

Commodities

Copper edges higher on retreating bond yields, hopes for China

LONDON: Copper prices ticked higher on Wednesday, lifted by hopes that U.S. interest rates have hit a peak and that...

Published 11 Oct, 2023 04:56pm

Commodities

Palm sheds early gains to end near 3-1/2-month low as inventories weigh

MUMBAI: Malaysian palm oil futures erased early gains on Wednesday to close near their lowest level in 3-1/2 months...

Published 11 Oct, 2023 04:54pm

Companies

UICL looks to sell its stake in Ghandhara Industries Limited

The Board of Directors (BoD) of Universal Insurance Company Limited (UICL) has decided to sell its stake in...

Published 11 Oct, 2023 04:39pm

Cricket

Abdullah Shafique making habit of great first impressions

HYDERABAD: Abdullah Shafique has a habit of making great first impressions, the latest of which came on Tuesday when...

Published 11 Oct, 2023 04:37pm

Energy

India wants Saudi Aramco to develop strategic petroleum reserve as ties strengthen

NEW DELHI: India wants Saudi Arabia’s Aramco to participate in its planned 6.5 million metric tons (MMT) strategic...

Published 11 Oct, 2023 03:28pm

South Asia

Sri Lanka’s talks with creditors ongoing, unaware of specific deals: IMF

MARRAKECH: Discussions between Sri Lanka and all its creditors are ongoing, though the International Monetary Fund...

Published 11 Oct, 2023 03:22pm

Cricket

Australia’s Stoinis in fray for World Cup clash with South Africa

LUCKNOW: Australia all-rounder Marcus Stoinis has shaken off a hamstring problem and is available for their World...

Published 11 Oct, 2023 03:17pm

Energy

Pakistan Refinery says it has achieved historic production in September

Pakistan Refinery Limited (PRL), a subsidiary of Pakistan State Oil Company Limited (PSO), said it achieved a...

Published 11 Oct, 2023 03:09pm

Luxury

LVMH shares tumble, hit fashion sector as luxury giant’s sales growth slows

PARIS: LVMH’s shares slumped on Wednesday, to their lowest level since December, knocking other shares in the...

Published 11 Oct, 2023 01:53pm

Europe

Zelensky rallies support on first visit to NATO HQ since invasion

BRUSSELS: Ukrainian President Volodymyr Zelensky on Wednesday urged allies to step up weapons supplies, on his first...

Published 11 Oct, 2023 01:29pm

Energy

Qatar signs 27-year gas supply deal with France’s Total: state energy firm

DOHA: Qatar has agreed to supply France’s TotalEnergies with natural gas for 27 years, its state energy company...

Published 11 Oct, 2023 01:22pm

Cricket

New Zealand’s Williamson, Southee set to return against Bangladesh

BENGALURU: New Zealand’s regular skipper Kane Williamson could feature in the World Cup game against Bangladesh in...

Published 11 Oct, 2023 01:18pm

Energy

Yellen says oil price cap has ‘significantly’ cut Russia’s revenues

MARRAKECH: U.S. Treasury Secretary Janet Yellen on Wednesday said a G7-led price cap on Russian oil had sharply...

Published 11 Oct, 2023 01:15pm

Stocks

Luxury stocks drag European shares lower on LVMH disappointment

European stocks slipped on Wednesday after sharp gains in the previous session, as luxury giant LVMH dragged the...

Published 11 Oct, 2023 12:53pm

Stocks

Japan’s Nikkei closes at two-week high as chips rally on dovish Fed tilt

TOKYO: Japan’s Nikkei share average closed at the highest level in two weeks on Wednesday as chip stocks led a rally...

Published 11 Oct, 2023 12:31pm

Cricket

Muhammad Rizwan soldiered on for Pakistan with ‘magic’ cramp fix

Pakistan’s Muhammad Rizwan played through the pain to secure a win over Sri Lanka with a record World Cup run chase...

Published 11 Oct, 2023 12:29pm

Forex

India rupee flat as importer dollar demand, equity outflows offset global cues

MUMBAI: The Indian rupee was little changed on Wednesday as local demand for U.S. dollars from importers and...

Published 11 Oct, 2023 11:35am

Life & Style

Malala’s statement on Israel-Palestine draws ire for being ‘hypocritical’

Nobel Laureate and education activist Malala Yousafzai posted a statement on X on Tuesday, calling for an “immediate...

Published 11 Oct, 2023 11:34am

Stocks

Australian shares edge higher on mining boost, Fed in focus

Australian shares edged higher on Wednesday, with the benchmark logging its fifth straight session of gains, buoyed...

Published 11 Oct, 2023 11:33am

Forex

Dollar in holding pattern ahead of Fed minutes, US inflation test

SINGAPORE: The dollar was largely rangebound on Wednesday, though remained weighed down by dovish Federal Reserve...

Published 11 Oct, 2023 11:07am

Cricket

A chance to make it 7-1: Pakistan’s ODI World Cup record against India

KARACHI: It is cricket’s fiercest rivalry, watched by millions, sparking raucous celebrations in victory and wild...

Updated 11 Oct, 2023 11:07am

Sept workers’ remittances up 5pc to $2.206bn MoM

KARACHI: Inflows of workers’ remittances posted an increase of over 5 percent in September 2023 compared to August...

Updated 11 Oct, 2023 11:03am

IMF projects 2.5pc growth rate for Pakistan in FY24

ISLAMABAD: The International Monetary Fund (IMF) has projected GDP growth rate for Pakistan at 2.5 per cent for 2024...

Updated 11 Oct, 2023 10:56am

Forex

China’s yuan flat despite dollar weakness, stimulus talk

SHANGHAI/SINGAPORE: China’s yuan was little changed against the dollar on Wednesday despite weakness in the...

Published 11 Oct, 2023 10:24am

Stocks

Indian shares advance on easing US rate worries, oil prices

BENGALURU: Indian shares rose on Wednesday, in tandem with global markets, on easing U.S. rate concerns following...

Published 11 Oct, 2023 10:17am

Mutual Funds

India bond yields down, value purchase offsets open market sale concerns

MUMBAI: Indian government bond yields fell in early trading on Wednesday as value purchases continued, even as...

Published 11 Oct, 2023 10:15am

Commodities

Palm rebounds on export optimism, firm soyoil

MUMBAI: Malaysian palm oil futures rebounded on Wednesday from a 3-1/2-month low hit in the previous session,...

Published 11 Oct, 2023 10:13am

President for elections in free, fair, transparent manner

ISLAMABAD: President Dr Arif Alvi said the upcoming general elections should be held in a free, fair, and...

Updated 11 Oct, 2023 09:56am

ECC forms core group on food inflation

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has constituted a core group of Federal...

Updated 11 Oct, 2023 09:55am

Massive hike in gas tariffs now seems inevitable

The government is all set to increase effective gas prices for non-protected domestic consumers by up to 129 percent

Updated 11 Oct, 2023 09:54am

Q2 FY24: Govt decides to borrow over Rs10trn

KARACHI: The federal government has planned to borrow over Rs 10 trillion in the second quarter (Oct-Dec) of this...

Updated 11 Oct, 2023 09:26am

South Asia

Magnitude 6.3 earthquake hits western Afghanistan

KABUL: A magnitude 6.3 earthquake struck western Afghanistan on Wednesday, hitting an area where more than 2,000...

Published 11 Oct, 2023 09:26am

Employees of power sector entities: Nepra opposes free electricity, monetisation

ISLAMABAD: National Electric Power Regulatory Authority (Nepra) has opposed free units or monetisation to employees...

Updated 11 Oct, 2023 09:24am

Benami transactions, misuse of taxpayers’ CNICs: FTO directs FBR to investigate cases

ISLAMABAD: Federal Tax Ombudsman (FTO) has directed the Director General Anti-Benami Initiative, Federal Board of...

Updated 11 Oct, 2023 09:23am

Middle East

More than 260,000 people displaced in Gaza: UN

GENEVA: Over 260,000 people have been forced to flee their homes in the Gaza Strip, as heavy Israeli bombardments...

Published 11 Oct, 2023 09:22am

Stocks

Asian markets build on global rally as Fed pause hopes grow

HONG KONG: Asia extended a global markets rally Wednesday on a growing belief the Federal Reserve is finished with...

Published 11 Oct, 2023 09:15am

Europe

London’s Luton Airport says all flights suspended due to ‘significant fire’

LONDON: London’s Luton Airport has suspended all flights until Wednesday afternoon and asked passengers not to...

Published 11 Oct, 2023 09:13am

Sports

Nadal to play at Australian Open, says tournament director Tiley

Rafa Nadal will play at the Australian Open in January, tournament director Craig Tiley said on Wednesday, as the...

Published 11 Oct, 2023 09:07am

Forex

Australia, NZ dollar rally takes a breather, bonds keep going

SYDNEY: The Australian and New Zealand dollars were consolidating five straight sessions of gains on Wednesday as...

Published 11 Oct, 2023 09:05am

Cricket

England happy to avoid injuries on difficult Dharamsala outfield

England all-rounder Sam Curran said they were thankful to have come through Tuesday’s World Cup win over Bangladesh...

Published 11 Oct, 2023 09:03am

Asia

China to host Belt and Road forum in Beijing Oct 17-18

BEIJING: China will host its third Belt and Road Forum next week, its foreign ministry said on Wednesday, a...

Published 11 Oct, 2023 08:59am

Commodities

Gold steady as Fed officials adopt dovish policy tone

Gold prices held near a more than one-week high on Wednesday, as the dollar edged lower after several U.S. Federal...

Published 11 Oct, 2023 08:56am

BR Research

Remittance slowdown

Remittances inflows stood at $2.2 billion in September which is up by 5 percent from the previous month and down by...

Published 11 Oct, 2023 08:50am

IBIS: SIFC seeks timelines for installation of telemetry system

ISLAMABAD: The Executive Committee (EC) of Special Investment Facilitation Council (SIFC), a civil-military...

Updated 11 Oct, 2023 08:45am

BR Research

Just passing by

Last week, Lucky Motors informed potential car buyers that the company is reducing the prices of its vehicles or...

Published 11 Oct, 2023 08:44am

Only core business of PIA to be offered: Fawad

ISLAMABAD: The core business of the PIA would be offered to potential buyers with current liabilities and assets...

Updated 11 Oct, 2023 08:44am

Pending case of a fertiliser co: IHC asks FBR to submit its cost of litigation

ISLAMABAD: Islamabad High Court (IHC) has directed the Federal Board of Revenue (FBR) to submit its cost of...

Updated 11 Oct, 2023 08:40am

BR’s refresher: your morning briefing for the day

Important updates from October 10, 2023

Published 11 Oct, 2023 08:39am

BR Research

Al-Khair Gadoon Limited

Al-Khair Gadoon Limited (PSX: AKGL) was incorporated in Pakistan as a private limited company in 1990 and was...

Published 11 Oct, 2023 08:37am

Opinion

Gas tariffs and reforms—II

However, some increase in small and medium category tariff will have to be, willy-nilly, done to cover the costs. In...

Updated 11 Oct, 2023 04:30am

Opinion

Agricultural land consolidation

Agricultural land consolidation is a land management procedure which entails restructuring, reorganization or...