News Archives for Latest - 2023-11-16

Forex

Pakistan’s central bank reserves fall $115mn, now stand at $7.4bn

Foreign exchange reserves held by the State Bank of Pakistan (SBP) fell by $115 million on a weekly basis, clocking...

Updated 23 Nov, 2023 07:56pm

USA

US issues sanctions to limit Russian influence in Balkans

WASHINGTON: The United States on Thursday targeted 10 individuals in a new round of sanctions aimed at containing...

Published 16 Nov, 2023 11:34pm

World

Dining with US firms at APEC, Xi says China is ready to be a partner

SAN FRANCISCO: China is ready to be a partner and friend of the United States, and there is plenty of room for...

Published 16 Nov, 2023 11:13pm

Middle East

Israeli troops deepen search at main Gaza hospital for evidence of Hamas

GAZA/OCCUPIED JERUSALEM: Israel said its forces were operating in and around Gaza’s biggest hospital, a chief...

Updated 16 Nov, 2023 11:05pm

Pakistan

Bilawal vows relief to masses as PPP kickstarts election campaign in KP

Pakistan People’s Party (PPP) Chairman Bilawal Bhutto Zardari on Thursday said his party has a plan to provide...

Updated 16 Nov, 2023 11:05pm

Pakistan

Pakistan calls on world to hold Israel accountable for attacks on Gaza hospitals

Foreign Office Spokesperson Mumtaz Zahra Baloch says Pakistan is appalled by Israeli incursion at Al-Shifa hospital

Updated 16 Nov, 2023 11:04pm

Stocks

New high: momentum continues at PSX as KSE-100 crosses 57,000 level

Analysts say IMF-Pakistan agreement a 'positive development' which has improved market sentiment

Updated 16 Nov, 2023 11:03pm

Pakistan

Caretaker PM Kakar directs all stakeholders to pursue SIFC initiatives

Chief of Army Staff reassures undaunted resolve of Pakistan Army to backstop government initiatives

Updated 16 Nov, 2023 11:02pm

Industry

Restructuring of FBR: Customs to be separated from revenue collection mechanism, says Dr Shamshad

Notification expected next week

Published 16 Nov, 2023 10:58pm

World

Gaza locked in new 'total communication blackout': UN agency

GENEVA: The head of the United Nations agency for Palestinian refugees said he feared for civil order in the Gaza...

Published 16 Nov, 2023 10:49pm

Europe

France says warned Iran against Mideast 'escalation'

PARIS: France said on Thursday that it had warned Iran against "any escalation or widening" of the Middle East...

Published 16 Nov, 2023 10:41pm

Cricket

Head breaks South African hearts as Australia set up World Cup final with India

KOLKATA: Travis Head starred with bat and ball as Australia set up a World Cup final clash with India after a tense...

Updated 16 Nov, 2023 10:22pm

Energy

Oil prices dive on US crude build and China concerns

Oil prices fell more than $3 a barrel on Thursday, extending losses from the previous session, as investors in New...

Updated 16 Nov, 2023 09:58pm

Pakistan

Politicians, executive, establishment must collaborate to resolve political instability: Alvi

President Alvi expresses confidence the results of the polls will create an environment that will ensure stability and prosperity for the country

Published 16 Nov, 2023 09:19pm

Companies

Ant Group quarterly profit falls 66% on year to 2.59bn yuan

China’s Ant Group made net profit of 2.59 billion yuan ($357.34 million) in the three months to June 30, down 64.67%...

Updated 16 Nov, 2023 08:42pm

Stocks

Wall St rally takes breather as Cisco, Walmart drop

Wall Street’s main indexes drifted lower on Thursday, weighed down by a drop in shares of Cisco and Walmart...

Published 16 Nov, 2023 08:40pm

Pakistan

Security forces kill four terrorists in Peshawar operation: ISPR

Slain terrorists also include high-value terrorist commander Samiullah alias Shenay

Updated 16 Nov, 2023 08:28pm

Companies

Regent Plaza sale to SIUT: PHDL board appoints execs to finalise $52m deal

Pakistan Hotels Developers Limited’s (PHDL) board of directors nominated two executives to finalise the sale of...

Updated 16 Nov, 2023 08:25pm

Middle East

UN chiefs reject unilateral proposals to create ‘safe zones’ in Gaza

GENEVA: The heads of numerous United Nations agencies and other humanitarian organisations said Thursday they would...

Published 16 Nov, 2023 08:12pm

Asia

Four dead after two Indonesian military planes crash

JAKARTA: Four people, including two pilots, were killed in Indonesia Thursday when two military aircraft crashed...

Published 16 Nov, 2023 08:09pm

USA

Biden, Xi’s ‘blunt’ talks yield deals on military, fentanyl

WOODSIDE: US President Joe Biden and Chinese leader Xi Jinping agreed on Wednesday to open a presidential hotline,...

Updated 16 Nov, 2023 08:07pm

Stocks

US stocks dip amid talk of ‘overbought’ market

NEW YORK: Wall Street stocks opened modestly lower Thursday, giving back a fraction of recent gains after Congress...

Published 16 Nov, 2023 08:04pm

Stocks

Bourses end higher on bets for end of rate-hike cycle

Stock markets in the Gulf ended higher on Thursday, as rising expectations of an end to the U.S. Federal Reserve’s...

Published 16 Nov, 2023 07:25pm

USA

US weekly jobless claims rise more than expected

WASHINGTON: The number of Americans filing new claims for unemployment benefits increased more than expected last...

Published 16 Nov, 2023 06:54pm

Cricket

Rohit the ‘genuine hero’ of India’s run to World Cup final

MUMBAI: Virat Kohli and Mohammed Shami starred as India beat New Zealand to reach the World Cup final but Nasser...

Published 16 Nov, 2023 06:48pm

Forex

Inter-bank: rupee ends depreciation run against US dollar

Currency appreciates 0.26% to settle at 287.38 against US dollar

Updated 16 Nov, 2023 06:30pm

Technology

Cisco slumps after cutting annual profit, revenue forecasts

Cisco tumbled 11% on Thursday after cuts to its annual forecasts raised fears that excess inventory with customers...

Published 16 Nov, 2023 06:21pm

Movies & Music

End of an era: ‘The Crown’ concludes with Diana’s death

LONDON: Netflix’s acclaimed series ‘The Crown’ chronicling the reign of Queen Elizabeth II draws to a close from...

Published 16 Nov, 2023 06:04pm

Stocks

Sri Lanka shares end lower dragged by consumer staples, financials

BENGALURU: Sri Lankan shares closed lower on Thursday, dragged by losses in consumer staple and financial stocks....

Published 16 Nov, 2023 05:49pm

Football

Ueda scores hat-trick as Japan thrash Myanmar to start World Cup bid

OSAKA: Ayase Ueda scored a hat-trick as Japan got their bid to reach an eighth straight World Cup off to an emphatic...

Published 16 Nov, 2023 05:47pm

Energy

Saudi Arabia’s crude exports rise in September

Saudi Arabia’s crude oil exports in September rose 3% from the previous month to 5.75 million barrels per day (bpd),...

Published 16 Nov, 2023 05:39pm

Forex

Open-market: rupee registers gain against US dollar

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Updated 16 Nov, 2023 05:35pm

Middle East

Options for evacuating Gaza’s Al Shifa hospital limited: WHO official

CAIRO: The United Nations is looking for ways to evacuate Al Shifa hospital in Gaza but options are limited by...

Published 16 Nov, 2023 05:34pm

World

Rich nations ‘likely’ met $100bn climate finance goal: OECD

PARIS: Wealthy nations likely met their goal of providing $100 billion in annual climate finance to poorer nations...

Published 16 Nov, 2023 05:31pm

Europe

Sanchez set to get new term as Spanish PM despite amnesty row

MADRID: Pedro Sanchez is poised to win the backing on Thursday of Spain’s parliament for another term as prime...

Updated 16 Nov, 2023 05:28pm

Football

Khephren Thuram replaces injured Camavinga in France squad

PARIS: Midfielder Khephren Thuram was called into the France squad on Thursday to replace Eduardo Camavinga, who has...

Published 16 Nov, 2023 05:24pm

Football

Italy coach Spalletti calls up Mancini for Euro 2024 clashes

ROME: Inter Milan defender Alessandro Bastoni has withdrawn from Italy’s last two Euro 2024 qualifiers and has been...

Published 16 Nov, 2023 05:23pm

Europe

Russia steps up attacks on Avdiivka in east Ukraine

KYIV: Russia has stepped up attacks on the shattered eastern Ukrainian frontline town of Avdiivka, its mayor said...

Published 16 Nov, 2023 05:19pm

Stocks

Stocks mostly drop as rate-hope rally fades

LONDON: Major Asian and European stock markets fell Thursday as investors took a breather and cashed in on a recent...

Updated 16 Nov, 2023 05:15pm

Africa

Kenya gets nearly $1bn loan from IMF

NAIROBI: The International Monetary Fund said Thursday it had agreed a $938-million loan for Kenya, which is...

Published 16 Nov, 2023 05:13pm

Stocks

IT stocks power Indian blue-chips to four-week highs

BENGALURU: Indian blue-chip indexes shrugged off a weak start on Thursday to end at four-week highs as IT stocks...

Published 16 Nov, 2023 04:58pm

Commodities

Copper hits six-week high after technical break

LONDON: Copper climbed to six-week highs on Thursday as a softer dollar and lower inventories triggered a flurry of...

Published 16 Nov, 2023 04:55pm

Commodities

Palm closes down tracking Chicago soyoil, profit-taking weighs

JAKARTA: Malaysian palm oil futures closed lower on Thursday, tracking a decline in soyoil prices on the Chicago...

Published 16 Nov, 2023 04:52pm

Arts

‘Cartier, Islamic Inspiration and Modern Design’ opens at Louvre Abu Dhabi

The exhibit is set to run until March 24, 2024

Published 16 Nov, 2023 04:51pm

Middle East

Israel orders residents from southern Gaza towns, raising fear of war’s spread

GAZA/JERUSALEM: Israel ordered civilians to leave four towns in the southern part of the Gaza Strip on Thursday,...

Published 16 Nov, 2023 04:48pm

Bullion Rate

Gold price per tola decreases Rs500 in Pakistan

Gold rates in Pakistan decreased on Thursday, in line with decline in the international rate. The yellow metal was...

Published 16 Nov, 2023 04:04pm

Stocks

Most major Gulf markets gain on bets on end of rate-hike cycle

Most major stock markets in the Gulf edged higher in early trade on Thursday, as rising expectations of an end to...

Published 16 Nov, 2023 03:01pm

Stocks

FTSE 100 struggles after rally as Burberry drags

UK’s blue-chip FTSE 100 index edged lower on Thursday after a three-day run of gains, as luxury group Burberry...

Published 16 Nov, 2023 02:58pm

South Asia

New Delhi smog grows more intense as farm fires rage

NEW DELHI: Toxic smog gripping New Delhi grew more intense on Thursday as farm fires raged in nearby fields despite...

Published 16 Nov, 2023 02:56pm

Business & Finance

BoE’s Greene says latest data good news for UK inflation outlook

LONDON: Bank of England rate-setter Megan Greene said on Thursday that this week’s inflation and jobs data were...

Published 16 Nov, 2023 02:51pm

Movies & Music

Pakistan-set Oscar contender ‘Eid Mubarak’ acquired for distribution

Pakistani-American writer-director Mahnoor Euceph’s live action short ‘Eid Mubarak’ clinched a number of...

Published 16 Nov, 2023 02:02pm

Business & Finance

Air fares will rise as sector aims for sustainability: Dubai Airports CEO

Says 'sustainability has to be at the very heart of everything we do, even if that means that air fares have to rise'

Updated 16 Nov, 2023 01:43pm

Energy

Pakistan refining policy: PRL executes upgrade agreement with OGRA

Pakistan Refinery Limited (PRL), one of the country’s largest oil refineries, has successfully executed an upgrade...

Published 16 Nov, 2023 01:20pm

Movies & Music

Jimmy Kimmel chosen to host Oscars for fourth time

LOS ANGELES: Comedian Jimmy Kimmel will host the 96th Oscars next year, his fourth time helming the pinnacle event...

Published 16 Nov, 2023 01:09pm

Forex

South African rand weakens after this week’s strong rally

JOHANNESBURG: South Africa’s rand slid in early trade on Thursday against a buoyant dollar, slowly unwinding a rally...

Published 16 Nov, 2023 01:06pm

Companies

Airbus nears compromise deal after Emirates jet order row

DUBAI: Airbus and Emirates edged towards a consolation deal for a double-digit number of A350-900 jets on Thursday...

Published 16 Nov, 2023 01:03pm

Luxury

Britain’s Burberry hit by slowdown in luxury spending

LONDON: Britain’s Burberry said it was being hit by a global slowdown in luxury spending and it would struggle to...

Published 16 Nov, 2023 01:01pm

Europe

Ukraine’s Zelenskiy says UK Foreign Secretary Cameron visits Kyiv

KYIV: Ukrainian President Volodymyr Zelenskiy said on Thursday that Britain’s new Foreign Secretary David Cameron...

Published 16 Nov, 2023 12:46pm

Sports

England star Brook pulls out of Big Bash League

MELBOURNE: Hard-hitting England batter Harry Brook on Thursday pulled out of playing in the Big Bash League this...

Published 16 Nov, 2023 12:41pm

Middle East

Israeli opposition leader calls on Netanyahu to resign ‘immediately’

OCCUPIED JERUSALEM: Israeli opposition leader Yair Lapid has called on Prime Minister Benjamin Netanyahu to step...

Published 16 Nov, 2023 12:37pm

USA

UN chief ‘deeply concerned’ by widening Myanmar conflict

NEW YORK: UN Secretary-General Antonio Guterres said Wednesday he is “deeply concerned” about the widening conflict...

Published 16 Nov, 2023 12:32pm

Sports

Verstappen slams Las Vegas GP as ‘99 percent show’

LAS VEGAS: Formula One world champion Max Verstappen has blasted this weekend’s Las Vegas Grand Prix as “99 percent...

Published 16 Nov, 2023 12:29pm

Asia

26 dead, dozens hospitalised in China building fire: state media

BEIJING: Twenty-six people have died and dozens were sent to hospital after a fire tore through a building in...

Published 16 Nov, 2023 12:24pm

South Asia

Rescue hopes for men trapped in India tunnel rest on new drill equipment

UTTARKASHI: Two of 40 men trapped inside a collapsed highway tunnel in the Indian Himalayas were treated for nausea...

Published 16 Nov, 2023 12:00pm

Business & Finance

IMF reaches staff level agreement with Kenya for $682mn financing

NAIROBI: The International Monetary Fund (IMF) has reached a staff-level agreement granting Kenya’s request for...

Published 16 Nov, 2023 11:57am

Sports

Zverev says he’ll be biggest Medvedev fan in Alcaraz ATP Finals clash

Alexander Zverev said he will be cheering on rival Daniil Medvedev to beat second seed Carlos Alcaraz at the ATP...

Published 16 Nov, 2023 11:55am

Middle East

Israeli military strikes house of Hamas leader Haniyeh in Gaza

OCCUPIED JERUSALEM: Israeli fighter jets have struck the house of Hamas leader Ismail Haniyeh in Gaza, the Israeli...

Published 16 Nov, 2023 11:48am

Europe

Ukrainian troops operate in occupied Kherson region after crossing river

KYIV: Ukrainian troops have crossed the vast River Dnipro into occupied areas of Kherson region and are operating in...

Published 16 Nov, 2023 11:43am

Asia

North Korea vows more offensive response to US ‘threats’: KCNA

SEOUL: North Korea on Thursday criticised a recent visit to South Korea by top US defence officials and vowed more...

Published 16 Nov, 2023 11:36am

Technology

Tencent says has Nvidia AI chip stockpile but seeking to buy domestic

HONG KONG: Chinese technology giant Tencent Holdings on Wednesday said it has a large stockpile of AI chips from US...

Published 16 Nov, 2023 11:25am

Sports

New Zealand confident about future after semi-final exit

MUMBAI: New Zealand are confident they have the foundations in place to continue to compete with the elite at the...

Published 16 Nov, 2023 11:19am

Business & Finance

Trans-Pacific trade deal members meet at APEC summit, say open to new members

SAN FRANCISCO: Trade ministers from members of an Asian free trade pact abandoned by the United States affirmed on...

Published 16 Nov, 2023 11:14am

Commodities

Palm opens lower, dragged by Chicago’s soyoil

JAKARTA: Malaysian palm oil futures opened down on Thursday, dragged by rival soyoil in Chicago that weighed on the...

Published 16 Nov, 2023 11:05am

Europe

Russia installs one more hypersonic nuclear missile

Russia has emplaced another strategic nuclear missile equipped with the Avangard hypersonic glide vehicle, which it...

Published 16 Nov, 2023 11:03am

Asia

US, China, Southeast Asia defence officials meet amid crises

JAKARTA: Defence ministers and officials from the United States, China, Russia and Southeast Asia gathered in...

Published 16 Nov, 2023 10:58am

Commodities

Copper treads lower as US dollar strengthens

NEW DELHI: Copper prices fell slightly on Thursday, easing from near six-week highs, as the US dollar firmed on...

Published 16 Nov, 2023 10:53am

USA

US Capitol police clash with protesters demanding Gaza ceasefire

WASHINGTON: US Capitol Police officers in riot gear clashed with dozens of demonstrators who gathered outside the...

Published 16 Nov, 2023 10:51am

Energy

Bullish IEA, OPEC oil demand forecasts at odds with modest gains in Asia’s imports: Russell

LAUNCESTON: The International Energy Agency (IEA) and producer group OPEC are sticking to bullish forecasts for...

Published 16 Nov, 2023 10:36am

Asia

Xi, Biden had ‘very good’ summit: China’s top diplomat

BEIJING: Chinese Foreign Minister Wang Yi said China’s President Xi Jinping and his US counterpart Joe Biden had a...

Published 16 Nov, 2023 10:25am

Forex

China’s yuan weakens on persistent property sector woes

SHANGHAI: China’s yuan weakened on Thursday against the US dollar, following data that showed persistent weakness in...

Published 16 Nov, 2023 10:21am

Technology

Lenovo posts another revenue decline as PC demand remains slow

HONG KONG: China’s Lenovo Group Ltd on Thursday posted a 16% fall in revenue for the three months through September,...

Published 16 Nov, 2023 10:20am

Mutual Funds

India bond yields flattish after mild reversal in US peers

MUMBAI: Indian government bond yields were largely unchanged on Thursday as US yields reversed some of their recent...

Published 16 Nov, 2023 10:18am

Companies

Hyundai unveils its first high-performance electric car

Hyundai Motor unveiled its first high-performance electric vehicle(EV), an N sport variant of its IONIQ 5 crossover...

Published 16 Nov, 2023 10:15am

Commodities

Soybeans retreat from 2-1/2-month high on improved LatAm weather outlook

CANBERRA: Chicago soybean futures retreated on Thursday from a 2-1/2-month high reached in the previous session as...

Published 16 Nov, 2023 10:12am

Bullion Rate

Gold steadies on Fed pause hopes, dollar rise limit gains

Gold prices inched higher on Thursday, buoyed by expectations that the Federal Reserve has come to the end of its...

Published 16 Nov, 2023 10:11am

Stocks

Asia stocks waver, expectations of Fed pause intact after data

HONG KONG: Asian stock markets struggled for momentum on Thursday, after heavy gains this week, as expectations for...

Published 16 Nov, 2023 10:08am

Forex

Australia, NZ dollars give back ground, strong jobs data no help

SYDNEY: The Australian and New Zealand dollars eased from multi-week highs on Thursday as a rise in Treasury yields...

Published 16 Nov, 2023 10:05am

Stocks

Australian shares fall as wage data lifts inflation concerns

Australian shares edged lower on Thursday, led by gold and technology stocks, as strong wages data indicated that...

Published 16 Nov, 2023 10:03am

Stocks

Nikkei falls on sell-off after sharp gains, US Treasury yields weigh

TOKYO: Japan’s Nikkei share average traded lower on Thursday as investors sold stocks to lock in profits from the...

Published 16 Nov, 2023 10:01am

Stocks

Indian shares open lower dragged by financials

BENGALURU: Indian blue-chip indexes opened lower on Thursday, dragged by financial services stocks, after closing at...

Published 16 Nov, 2023 09:59am

Illegal gas sale to unlicensed third party: PEL secures stay order against PD letter from court

ISLAMABAD: M/s Petroleum Exploration (Pvt) Limited (PEL), a private oil and gas sector company has obtained a stay...

Updated 16 Nov, 2023 09:53am

Quarterly targets: IMF team acknowledges govt efforts in its meeting with Kakar

IMF Mission Chief for Pakistan Nathan Porter says efforts have resulted in positive conclusion of the technical-level talks

Updated 16 Nov, 2023 09:52am

Foreign exchange transactions: Cabinet approves levy of 40pc tax on banks’ windfall profits

ISLAMABAD: The caretaker federal cabinet, on the recommendation of the Federal Board of Revenue (FBR), approved...

Updated 16 Nov, 2023 09:51am

200 KMT fertiliser: ECC decides to explore option of import through G2G arrangement

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has decided that the option of import of 200...

Updated 16 Nov, 2023 09:51am

Forex

Dollar holds ground as macro data hints at later Fed rate cut

TOKYO: The dollar held its ground early on Thursday after a volatile two days that saw sharp declines followed by a...

Published 16 Nov, 2023 09:47am

Govt securities on PSX: MoF forms body to finalise modalities for issuance, trading

ISLAMABAD: The Ministry of Finance has formed a committee, comprising experts from the financial sector, to finalise...

Updated 16 Nov, 2023 09:36am

IMF, govt reach SLA on first SBA review

ISLAMABAD: The International Monetary Fund (IMF) staff and the Pakistani authorities have reached a staff-level...

Updated 16 Nov, 2023 09:36am

Petrol price slashed by Rs2.04, HSD’s by Rs6.47

ISLAMABAD: Interim government on Wednesday announced a significant reduction in the ex-depot prices of petroleum...

Updated 16 Nov, 2023 09:26am

T-bills cut-off yield down up to 50bps

KARACHI: The cut-off yield on short-term government papers declined up to 50 basis points (bps) in the auction held...

Updated 16 Nov, 2023 09:25am

ADB IED rates power transmission investment programme as successful plan

ISLAMABAD: The Independent Evaluation Department (IED) of the Asian Development Bank (ADB) has rated “Pakistan:...

Updated 16 Nov, 2023 09:25am

Revised SOE policy approved by Cabinet body

ISLAMABAD: A meeting of the Cabinet Committee on State-Owned Enterprises (CCoSOEs) has approved revised SOE policy...

Updated 16 Nov, 2023 09:21am

Israeli raid at hospital sparks global concern

GAZA STRIP, (Palestinian Territories): Israeli soldiers withdrew from Gaza’s main hospital Wednesday after raiding...

Updated 16 Nov, 2023 08:57am

BR Research

LSM inching up gradually

The tide is finally turning after a disastrous 15 months of large scale manufacturing performance. Having turned...

Published 16 Nov, 2023 08:43am

BR Research

Autos: Unpromising!

In two more months, the automotive industry would have reached the half-way point into the fiscal year that is FY24,...

Published 16 Nov, 2023 08:39am

BR Research

Aisha Steel Mills Limited

Aisha Steel Mills Limited (PSX: ASL) was incorporated in Pakistan in 2005 as a public limited company and started...

Published 16 Nov, 2023 08:36am

BR’s refresher: your morning briefing for the day

Important updates from November 15, 2023

Published 16 Nov, 2023 08:18am

Opinion

Creating market for rice stubble

Every winter season, starting from October to January, air pollution and smog dawn on Central Punjab. Cold...

Updated 16 Nov, 2023 06:09am

Opinion

In extremis, anything is possible!

Oh hush hush, ummah’s leaders, lest you wake. Heads of Muslim states, from rich Arab princes and kings to ...

Updated 16 Nov, 2023 06:07am

Pakistan

The Weather

KARACHI: The weather report on Wednesday (November 15, 2023) and the forecast for Thursday (November 16, 2023)...