News Archives for Latest - 2023-10-19

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Archive - 2023-10-19

USA

US inflation is 'still too high': Fed Chair Powell

WASHINGTON: US inflation is "still too high" despite a recent slowdown, Federal Reserve Chair Jerome Powell said...

Published 19 Oct, 2023 11:17pm

World

State Dept issues global 'caution' alert for US travelers

WASHINGTON: The State Department on Thursday issued a rare "worldwide caution" advisory for US citizens everywhere,...

Published 19 Oct, 2023 10:56pm

Europe

US says NATO allies concerned after Orban-Putin meeting

BUDAPEST: Ambassadors of NATO member states and Sweden met in Budapest on Thursday to discuss their growing concern...

Published 19 Oct, 2023 10:44pm

Companies

Suzuki here to stay, company reiterates its commitment to Pakistan’s market

Suzuki Motor Corporation will continue to invest in Pakistan and ensure that Pak Suzuki serves its customers in...

Published 19 Oct, 2023 09:55pm

Pakistan

President Alvi visits Palestine embassy, condemns Israeli brutalities in Gaza

President Dr Arif Alvi on Thursday visited the embassy of Palestine in Pakistan and expressed solidarity with the...

Published 19 Oct, 2023 10:01pm

Pakistan

Pakistan ‘disappointed’ over outcome of UNSC’s Gaza meeting, calls for end to bombardment, blockade: FO

Pakistan on Thursday expressed disappointment over the results of the emergency meeting of the United Nations...

Updated 19 Oct, 2023 10:06pm

Forex

Inter-bank: rupee stages comeback, settles at 278.81 against US dollar

Local currency closes Rs1.48 higher in inter-bank market on Thursday

Updated 19 Oct, 2023 10:05pm

Pakistan

PM Kakar praises Pak-China partnership during meeting with Xi

Premier says Pakistan will always stand with China

Updated 19 Oct, 2023 10:05pm

Forex

Pakistan’s central bank reserves increase $67mn, now stand at $7.7bn

Total liquid foreign reserves held by country stand at $12.9 billion

Updated 19 Oct, 2023 10:01pm

Stocks

European shares hit two-week low as dismal earnings add to risk-off mood

European shares lost ground on Thursday as a raft of downbeat corporate earnings, including from packaged food giant...

Published 19 Oct, 2023 09:44pm

Pakistan

4 soldiers martyred, 6 terrorists killed in Waziristan operations: ISPR

At least four soldiers were martyred and six terrorists were killed in two different gun battles with terrorists in...

Published 19 Oct, 2023 09:41pm

Stocks

FTSE 100 falls over 1% on rising yields; Rentokil Initial tumbles

London’s FTSE 100 fell on Thursday as a rise in long-term government bond yields and uncertainty around the Middle...

Published 19 Oct, 2023 09:41pm

Cricket

Ton-up Kohli stars as India overwhelm Bangladesh in World Cup

PUNE: Virat Kohli’s unbeaten century sealed India’s fourth win from four World Cup matches as the hosts defeated...

Updated 19 Oct, 2023 09:35pm

Pakistan

IHC grants protective bail to Nawaz in Avenfield, Al-Azizia references

Bail has been granted till October 24

Updated 19 Oct, 2023 09:31pm

Stocks

KSE-100 closes above 50,000 after six years with massive 934-point gain

Across-the-board buying witnessed among index-heavy sectors

Updated 19 Oct, 2023 09:31pm

South Asia

Taliban says plans to formally join China's Belt and Road Initiative

BEIJING: The Taliban administration wants to formally join Chinese President Xi Jinping’s huge ‘Belt and Road’...

Updated 19 Oct, 2023 09:25pm

South Asia

IMF sees India meeting its FY24 deficit goal despite extra spending

NEW DELHI: India has room to absorb additional expenditure towards subsidies and rural unemployment programme...

Published 19 Oct, 2023 08:22pm

Stocks

Most Gulf markets tumble on fears of wider conflict in the region

Most stock markets in the Gulf ended lower on Thursday on fears that Israel’s military campaign in Gaza may escalate...

Published 19 Oct, 2023 08:18pm

USA

Second Trump co-defendant in Georgia election case pleads guilty

WASHINGTON: A second co-defendant of Donald Trump pleaded guilty Thursday in the case alleging a criminal conspiracy...

Published 19 Oct, 2023 08:16pm

Cricket

Players sick from being confined to hotel, says Pakistan’s Hasan Ali

BENGALURU: Fast bowler Hasan Ali believes the fever which has spread through the Pakistan team at the World Cup has...

Published 19 Oct, 2023 07:52pm

Asia

US says China building up nuclear capacity faster than expected

WASHINGTON: China is developing its nuclear arsenal faster than US projections had previously anticipated, according...

Published 19 Oct, 2023 07:14pm

Pakistan

Pakistan dispatches first consignment of humanitarian aid to Gaza

Humanitarian aid includes 1,000 winter tents, 4,000 blankets, and three tons of medicine

Published 19 Oct, 2023 06:47pm

Stocks

Wall St eyes higher open ahead of Powell’s comments; Tesla drops, Netflix surges

Wall Street’s main indexes were set to open higher on Thursday as Tesla and Netflix kicked U.S. earnings season into...

Published 19 Oct, 2023 06:51pm

USA

Fed’s Powell to take the stage amid a suddenly choppy landscape

Federal Reserve Chair Jerome Powell will take the podium in New York on Thursday with his colleagues at the U.S....

Published 19 Oct, 2023 06:49pm

Middle East

US, UK urge citizens to leave Lebanon over border tensions

BEIRUT: The US and British embassies in Beirut on Thursday advised citizens to leave Lebanon while flights “remain...

Published 19 Oct, 2023 06:39pm

Movies & Music

India’s PVR Inox swings to profit on ‘Barbenheimer’ frenzy, Bollywood hits

BENGALURU: PVR Inox, India’s largest multiplex operator, swung to a quarterly profit on Thursday as the smashing...

Published 19 Oct, 2023 06:09pm

USA

US weekly jobless claims unexpectedly fall

WASHINGTON: The number of Americans filing new claims for unemployment benefits unexpectedly fell last week,...

Published 19 Oct, 2023 06:04pm

Forex

Open-market: rupee climbs against US dollar

The Pakistani rupee registered improvement against the US dollar in the open market on Thursday, as the local...

Updated 19 Oct, 2023 05:52pm

Asia

Putin praises ‘unprecedented’ energy ties with China

MOSCOW: Russian President Vladimir Putin on Thursday praised the “unprecedented” energy cooperation between Moscow...

Published 19 Oct, 2023 05:47pm

Commodities

Copper plods higher on China optimism, curbed by dollar

LONDON: Copper prices rose on Thursday on firmer economic data from top metals consumer China along with hopes for...

Published 19 Oct, 2023 05:16pm

Commodities

Palm drops on profit taking

JAKARTA: Malaysian palm oil futures fell on Thursday to their lowest closing price in nearly a week, reversing an...

Published 19 Oct, 2023 05:13pm

Stocks

Earnings-driven gains in key stocks help Indian shares cap losses

BENGALURU: Indian shares fell on Thursday, tracking a selloff in global stocks on worries over escalating tensions...

Published 19 Oct, 2023 05:10pm

Stocks

Sri Lanka shares end higher on financials boost

CSE All Share index settled 0.32% higher at 10,590.42 points

Published 19 Oct, 2023 05:06pm

Commodities

Gold prices remain largely stable in Pakistan

Gold prices in Pakistan remained largely stable on Thursday, with per tola price at Rs206,300, after a slight...

Published 19 Oct, 2023 04:50pm

Arts

UK’s British Museum says hundreds of stolen items recovered

LONDON: The British Museum in London has recovered 350 of approximately 2,000 artefacts believed to have been...

Published 19 Oct, 2023 04:48pm

Asia

Xi says China to work with Egypt to help stabilise Middle East

BEIJING: Chinese President Xi Jinping told Egypt’s prime minister on Thursday that their countries should work...

Updated 19 Oct, 2023 04:34pm

Europe

Russia says sending 27 tonnes of humanitarian aid to Gaza

MOSCOW: Russia on Thursday sent 27 tonnes of humanitarian aid for civilians in the Gaza Strip to be transported from...

Updated 19 Oct, 2023 04:33pm

Technology

Why Dubai residents trust the govt with their data

At a media roundtable on sidelines of GITEX GLOBAL, experts discuss Dubai's data privacy and government services

Published 19 Oct, 2023 04:29pm

Markets

Citing losses, low valuations, Pak Suzuki announces to delist from PSX

The Board of Directors (BoD) of Pak Suzuki Motor Company (PSMC) has decided to purchase all outstanding shares of...

Updated 19 Oct, 2023 04:28pm

Business & Economy

EV giant BYD considering investment in Pakistan, says Dr Ejaz

BYD, a Chinese auto conglomerate and the world’s largest electric vehicles (EVs) manufacturer, is considering...

Updated 19 Oct, 2023 04:05pm

Energy

Oil slips as Venezuela sanctions ease, Middle East in focus

LONDON: Oil prices fell about 2% on Thursday as the United States eased sanctions on Venezuela to allow more oil to...

Updated 19 Oct, 2023 03:46pm

Commodities

Meezan Bank’s profit jumps nearly 124% in 1QFY24

Meezan Bank, the country’s largest Islamic bank, posted earnings of Rs25.99 billion for the first three months of...

Published 19 Oct, 2023 03:21pm

USA

Biden to address nation on Israel, Ukraine as crises mount

WASHINGTON: US President Joe Biden will give a rare Oval Office speech Thursday to try to get Americans behind the...

Published 19 Oct, 2023 02:05pm

Movies & Music

Netflix gains subscribers with ads and password crackdown

SAN FRANCISCO: Netflix on Wednesday said subscriber numbers grew nearly 11 percent to 247 million in the recently...

Published 19 Oct, 2023 01:19pm

Sports

New Zealand’s quiet achiever Santner makes big noise at World Cup

Mild-mannered Mitch Santner rarely hogs the limelight in the New Zealand team but the all-rounder has made a big...

Published 19 Oct, 2023 12:47pm

Stocks

UK shares down as Treasury yields jump, commodity-linked stocks weigh

UK shares fell on Thursday as a jump in government bond yields and tensions in the Middle East kept investors...

Published 19 Oct, 2023 12:42pm

Stocks

European equities fall further at open

LONDON: European stocks extended losses Thursday at the open, after sharp falls in Asia, as fears grew that the...

Published 19 Oct, 2023 12:32pm

Stocks

Hong Kong shares open lower

HONG KONG: Hong Kong stocks fell more than one percent at the open Thursday on growing worries of a wider conflict...

Published 19 Oct, 2023 11:55am

Asia

UN inspectors test Fukushima fish

IWAKI: UN inspectors took samples from a fish market near the Fukushima nuclear power plant on Thursday following...

Published 19 Oct, 2023 11:52am

Pakistan

Toshakhana case: accountability court suspends Nawaz’s warrant

Says arrest warrant would be restored if the accused did not appear before the court on October 24

Published 19 Oct, 2023 11:45am

Europe

Russia denounces ‘dangerous’ US military North Korea policy

MOSCOW: Russian Foreign Minister Sergei Lavrov on Thursday criticised the US and its allies Japan and South Korea...

Published 19 Oct, 2023 11:37am

Forex

Australia, NZ dollars undone by risk aversion, jobs data

SYDNEY: The Australian and New Zealand dollars were again burdened by global risk aversion on Thursday as tensions...

Published 19 Oct, 2023 11:26am

Sports

Afghanistan coach Trott rues dropped catches in loss to New Zealand

Afghanistan coach Jonathan Trott said they could have given New Zealand a run for their money in Wednesday’s World...

Published 19 Oct, 2023 11:20am

Forex

India rupee to struggle on US yield concerns; odds of record low seen rising

MUMBAI: The Indian rupee is expected to be under pressure on Thursday after long-maturity US Treasury yields climbed...

Published 19 Oct, 2023 11:17am

Middle East

Three Palestinians killed by Israeli forces in West Bank

Three Palestinians, including two teenagers, were killed by Israeli forces in separate incidents in the occupied...

Published 19 Oct, 2023 11:14am

Mutual Funds

Rising US yields, oil prices push India bond yields higher

MUMBAI: Indian government bond yields rose on Thursday, as a sharp rise in US Treasury yields and oil prices weighed...

Published 19 Oct, 2023 11:02am

Stocks

China stocks hit new low this year as investors remain depressed

SHANGHAI: Chinese stocks hit a new low for the year on Thursday, dragged by consumer-related shares as investor...

Published 19 Oct, 2023 11:01am

Technology

Nokia to cut up to 14,000 jobs after sales drop 20%

STOCKHOLM: Finnish telecom gear group Nokia on Thursday said it will cut up to 14,000 jobs as part of a new cost...

Published 19 Oct, 2023 11:00am

Mutual Funds

JGB yields hit new decade highs amid US rate worries

TOKYO: Japanese government bond yields rose to fresh decade highs on Thursday, tracking gains in US Treasury yields...

Published 19 Oct, 2023 10:58am

Forex

China’s yuan steady as strong dollar offsets growth optimism

SHANGHAI: China’s yuan was steady against the dollar on Thursday, as strength in the dollar index as Middle East...

Published 19 Oct, 2023 10:57am

Commodities

Palm hits three-week high on rival oil strength

JAKARTA: Malaysian palm oil futures rose for a second session on Thursday, hit their highest levels in three weeks,...

Published 19 Oct, 2023 10:56am

Forex

Asia currencies, stocks down as Middle East jitters, bond sell-off weigh

Indonesia’s rupiah led declines in emerging Asian currencies on Thursday, while Malaysia’s ringgit fell to a 25-year...

Published 19 Oct, 2023 10:55am

Companies

Renault sales up 7.6% thanks to higher prices but forex weighs

PARIS: French carmaker Renault said on Thursday its revenues rose by 7.6% in the third quarter thanks to sales of...

Published 19 Oct, 2023 10:53am

Companies

Nestle posts 7.8% rise in nine-month sales

LONDON: Nestle posted lower-than-expected nine-month sales growth on Thursday as higher product prices made shoppers...

Published 19 Oct, 2023 10:52am

Middle East

US reports deal with Egypt to restart aid to Gaza as protests rock Middle East

TEL AVIV/GAZA: Egypt agreed to reopen its border crossing with the Gaza Strip to allow aid to reach Palestinians,...

Published 19 Oct, 2023 10:49am

Sports

Neymar to have surgery after rupturing ACL, meniscus

Neymar will undergo surgery after rupturing the anterior cruciate ligament and meniscus in his left knee during a...

Published 19 Oct, 2023 10:32am

Middle East

Russia’s Lavrov says there is serious risk of regional Middle East conflict

Russian Foreign Minister Sergei Lavrov said on Thursday there was serious risk that the Gaza conflict will become...

Published 19 Oct, 2023 10:30am

Mutual Funds

Bond buyers dip toes in long-term Treasuries despite higher-for-longer rate fears

NEW YORK: Some investors are increasing exposure to longer term US Treasuries in the midst of a historic sell-off,...

Published 19 Oct, 2023 10:22am

Financial

BOJ to release quarterly report that may offer clues on wages

TOKYO: The Bank of Japan will release a regional economic report on Thursday that may offer clues on whether...

Published 19 Oct, 2023 10:17am

Business & Finance

Ford lays off another 150 workers citing UAW strike

Ford Motor said late on Wednesday it is laying off another 150 workers in Michigan because of the ongoing United...

Published 19 Oct, 2023 10:14am

Technology

Tesla joins GM, Ford in slowing EV factory ramp as demand fears spread

SAN FRANCISCO: Tesla on Wednesday joined General Motors and Ford in being cautious about expanding electric vehicle...

Published 19 Oct, 2023 10:12am

Stocks

Asian stocks fall, gold at over 2-month high as Middle East tension weighs

SINGAPORE: Asian shares slid on Thursday as risk aversion prevailed in the market due to mounting worries over...

Published 19 Oct, 2023 10:09am

Stocks

Australian shares fall more than 1% amid Middle East conflict

Australian shares fell more than 1% on Thursday, tracking sharp declines on Wall Street as the escalating Middle...

Published 19 Oct, 2023 10:03am

Stocks

Japan’s Nikkei tumbles on hawkish Fed bets, Middle East uncertainty

TOKYO: Japan’s Nikkei share average tumbled on Thursday, tracking a sell-off on Wall Street after robust US economic...

Published 19 Oct, 2023 10:01am

Forex

Dollar holds near 150 yen ahead of Fed Chair remarks

TOKYO: The dollar held the yen near a two-week low, as growing expectations the US Federal Reserve will keep rates...

Published 19 Oct, 2023 09:59am

Bullion Rate

Gold firms on Middle East conflict; spotlight on Powell speech

Gold prices hovered near a 2-1/2-month high on Thursday as escalating Middle East turmoil buoyed demand for the...

Published 19 Oct, 2023 09:54am

CPEC projects worth $25bn completed: PM

Says clean energy projects were expected to be completed in the next four to five years under the CPEC

Updated 19 Oct, 2023 09:51am

Stocks

Indian shares open lower as Middle East tensions trigger global selloff

BENGALURU: Indian shares opened lower on Thursday, tracking a selloff in global stocks, on worries over escalating...

Published 19 Oct, 2023 09:50am

Commodities

Soybeans hit 3-week high on strong demand, Brazil drought

SINGAPORE: Chicago soybean futures were flat on Thursday, after climbing earlier in the session to a three-week high...

Published 19 Oct, 2023 09:48am

Commodities

Copper treads lower as strong US dollar weighs

NEW DELHI: Copper prices gave up early gains on Thursday as a strong US dollar outweighed support from...

Published 19 Oct, 2023 09:45am

Business & Finance

Malaysia’s Sept exports fall 13.7% on-year, slower than forecast

KUALA LUMPUR: Malaysia’s exports fell 13.7% in September, slower than expected, government data showed on Thursday....

Published 19 Oct, 2023 09:43am

Business & Finance

Indian central bank likely offering US dollars to defend rupee

MUMBAI: The Reserve Bank of India is likely selling US dollars again to defend the rupee and keep it from sliding to...

Published 19 Oct, 2023 09:41am

Markets

Barclays now expects US Fed rate hike in December

Barclays forecasts the US Federal Reserve delivering a 25-basis-point hike in December, compared to a prior rate...

Published 19 Oct, 2023 09:39am

Real Estate

Country Garden bondholders seek talks after missed payment

HONG KONG: Country Garden’s bondholders are seeking urgent talks with the company and its advisers after the...

Published 19 Oct, 2023 09:37am

ERS or STARR system: Taxpayers allowed to file non-export-related GST refunds

ISLAMABAD: The Federal Board of Revenue (FBR) has allowed taxpayers to file non-export-related sales tax refunds,...

Updated 19 Oct, 2023 09:36am

50:50 sharing of expenditure on devolved functions: Ministries, provinces directed to finalise proposal

ISLAMABAD: The caretaker federal government has directed ministries of Finance, Planning and Special Initiatives,...

Updated 19 Oct, 2023 09:35am

Petroleum sector: Pakistan, China sign MoU on $1.5bn investment

BEIJING: The United Energy Group of China and Pakistan Refinery Limited on Wednesday signed a Memorandum of...

Updated 19 Oct, 2023 09:35am

BR Research

Pakistan Oilfields Limited

Pakistan Oilfields Limited (PSX: POL is a subsidiary of the Attock Oil Company Limited (AOC), and is engaged in the...

Published 19 Oct, 2023 09:28am

Goals of open global economy, connectivity: Pakistan committed to working with China, regional partners: PM

BEIJING: Caretaker Prime Minister Anwaar-ul-Haq Kakar on Wednesday said Pakistan was committed to working with China...

Updated 19 Oct, 2023 09:09am

Hiring of FAs for Reko Diq project: PMPL given relaxation of investment rules

ISLAMABAD: The federal government has extended special relaxation to Pakistan Minerals Private Limited (PMPL) of the...

Updated 19 Oct, 2023 09:08am

KCR to be built by CRCC: Sindh CM

KARACHI: Karachi Circular Railway (KCR) will be built by China Railway Construction Corporation (CRCC) at a cost of...

Updated 19 Oct, 2023 09:07am

Evacuation of power from SEL plant, off-take by network: KE suggests joint study with NTDC thru private consultant

ISLAMABAD: K-Electric has proposed a joint study with National Transmission and Despatch Company (NTDC) through an...

Updated 19 Oct, 2023 08:52am

Q1 textile group exports down 9.95pc to $4.127bn YoY

ISLAMABAD: The country’s textile group exports declined by around 9.95 percent during the first quarter...

Updated 19 Oct, 2023 08:52am

OIC condemns Israel’s backers

JEDDAH: The Executive Committee of the Organisation of Islamic Cooperation (OIC), in its extraordinary open-ended...

Updated 19 Oct, 2023 08:50am

BR Research

Cotton prices: exuberance is over?

Manipulation has once again struck the cotton market. Reportedly, after the Federal Committee on Agriculture (FCA)...

Published 19 Oct, 2023 08:50am

Pakistan, China agree to strengthen high-level engagement

BEIJING: Pakistan and China on Wednesday agreed to further strengthen high-level dialogue and engagement besides...

Updated 19 Oct, 2023 08:50am

BR’s refresher: your morning briefing for the day

Important updates from October 18, 2023

Published 19 Oct, 2023 08:46am

BR Research

Too soon to call

Last month, this column questioned whether the slow rise in cement offtake was an indicator that there is revival in...

Published 19 Oct, 2023 08:45am

World

Protest across Muslim world

BEIRUT: Thousands rallied across the Arab and Muslim world on Wednesday to protest the deaths of hundreds of people...

Updated 19 Oct, 2023 06:07am

Opinion

Capacity payments conundrum

The matter of increased capacity payments to power plants has sparked a heated controversy. In recent years, these...

Updated 19 Oct, 2023 05:34am

Pakistan

The Weather

KARACHI: The weather report on Wednesday (October 18, 2023) and the forecast for Thursday (October 19, 2023)...