News Archives for Latest - 2023-12-01

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Archive - 2023-12-01

World

Gaza’s Hamas rulers say 3 journalists killed in Israeli raids

GAZA STRIP: Gaza’s Hamas-run government said three journalists were killed in Israeli raids on Friday as fierce...

Published 01 Dec, 2023 11:56pm

Pakistan

ECP refutes Babar Awan’s statement about KP’s seats being reduced

The Election Commission of Pakistan (ECP) on Friday refuted Babar Awan’s statement about the National Assembly seats...

Updated 01 Dec, 2023 10:44pm

Business & Economy

Pakistan’s trade deficit narrows 34% to $9.38bn in 5MFY24

Stood at $14.28bn in same period of the previous year

Updated 01 Dec, 2023 10:44pm

Markets

Pakistan’s headline inflation reading clocks in at 29.2% in November

Inflation reading higher than October's when it stood at 26.9%

Updated 01 Dec, 2023 10:38pm

Pakistan

Al Qadir Trust case: NAB files reference against Imran, wife

Also files reference against 6 others

Updated 01 Dec, 2023 10:29pm

Forex

Inter-bank: rupee records 4th consecutive gain against US dollar

Currency appreciates 0.07%, settles at 284.97 against greenback

Updated 01 Dec, 2023 10:24pm

Middle East

Israel resumes Gaza attacks as truce expires, heavy fighting reported

Gaza health officials report that at least 100 people have already been killed and dozens wounded in Israeli air strikes

Updated 01 Dec, 2023 10:20pm

Sports

PCB includes Salman Butt in selection panel, decision draws criticism

Kamran Akmal and Rao Iftikhar Anjum also included as 'consultant members' to chief selector Wahab Riaz

Updated 01 Dec, 2023 10:07pm

Middle East

COP28: UAE president announces $30bn fund to bridge climate finance gap

DUBAI: United Arab Emirates President Sheikh Mohammed Bin Zayed announced on Friday the establishment of a $30...

Updated 01 Dec, 2023 09:58pm

Pakistan

COP28: Caretaker PM Kakar arrives at Dubai Expo City

Kakar received by UAE President and UN Secretary-General at venue

Updated 01 Dec, 2023 09:44pm

Pakistan

Supreme Court seeks govt reply on plea against expulsion of Afghans, says petitioner

ISLAMABAD: Pakistan’s Supreme Court began hearings on Friday on a petition by rights activists seeking to halt...

Updated 01 Dec, 2023 09:20pm

Sports

Late wickets keep India to 174-9 in Australia T20

RAIPUR: Late strikes by Australia fast bowlers Ben Dwarshuis and Jason Behrendorff kept India to 174-9 as the...

Updated 01 Dec, 2023 08:48pm

Stocks

KSE-100 conquers 61,000 after single-day gain of 1,160 points

After brief pause, benchmark index back to winning ways

Updated 01 Dec, 2023 08:04pm

Commodities

Wheat eases after rally, soybeans slip

PARIS/CANBERRA: Chicago wheat futures fell on Friday in a technical setback following an export-fuelled rally, while...

Published 01 Dec, 2023 07:46pm

Life & Style

Netflix, Viacom18 among streaming firms set to oppose India broadcasting bill

NEW DELHI: Netflix, billionaire Mukesh Ambani’s Viacom18 and other streaming companies plan to collectively lobby...

Published 01 Dec, 2023 07:44pm

Energy

Oil prices stabilise after slump on underwhelming OPEC+ cuts

Oil prices were broadly steady on Friday following a 2% drop on Thursday, with the market unconvinced that the...

Updated 01 Dec, 2023 07:41pm

Middle East

Hezbollah says it’s ‘vigilant’ as Hamas-Israel fighting resumes

BEIRUT/OCCUPIED JERUSALEM: Lebanon’s Hezbollah said on Friday it was vigilant and ready as a resumption of fighting...

Published 01 Dec, 2023 07:39pm

Stocks

Wall St set for lower open in run-up to Powell’s remarks

Wall Street’s indexes were set for a subdued open on Friday as investors were on edge in the run up to Federal...

Published 01 Dec, 2023 07:29pm

Stocks

Crypto stocks set to start December on a high note as bitcoin hits near 19-month high

Shares of crypto miners and bitcoin-tracking companies climbed in premarket trading on Friday as the world’s largest...

Published 01 Dec, 2023 07:22pm

Life & Style

Apple, Paramount discuss bundling their streaming services

Apple and Paramount Global have discussed bundling their streaming services at a discount, the Wall Street Journal...

Published 01 Dec, 2023 07:12pm

Sports

Nadal confirms Brisbane return ahead of Australian Open

PARIS: Spanish tennis great Rafael Nadal, absent from the courts for almost a year with a hip injury, announced...

Published 01 Dec, 2023 07:02pm

Pakistan

IHC orders removal of Shireen Mazari’s name from Passport Control List

The Islamabad High Court (IHC) on Friday ordered the removal of former human rights minister Shireen Mazari’s name...

Published 01 Dec, 2023 07:01pm

Travel

Travelling over the holidays: 5 destinations worth considering

As the winter holidays draw nearer, for those looking for a quick escape or a closer look at festive lights and...

Published 01 Dec, 2023 06:46pm

Europe

Russia voices indifference over OSCE’s future

SKOPJE: Russia on Friday expressed indifference over the future of the world’s largest regional security...

Published 01 Dec, 2023 06:59pm

South Asia

At least seven killed in attack on clerics in Afghanistan’s Herat

HEART: At least seven people were killed Friday when unidentified gunmen opened fire on a rickshaw carrying two Shia...

Published 01 Dec, 2023 06:57pm

Middle East

Turkiye’s Erdogan offers to host UN climate talks in 2026

DUBAI: Turkiye President Recep Tayyip offered Friday to host the United Nations COP31 climate conference in 2026....

Published 01 Dec, 2023 06:48pm

Forex

Kenyan shilling unchanged in quiet trade

The Kenyan shilling was unchanged against the dollar on Friday, a quiet day for trading with meagre inflows of...

Published 01 Dec, 2023 06:39pm

Forex

Forint edges higher on improved economic growth

BUDAPEST: Hungary’s forint edged higher and its bonds were steady on Friday, while other central European currencies...

Published 01 Dec, 2023 06:37pm

Stocks

India’s Nifty 50 hits all-time high; posts best week in five months

BENGALURU: India’s Nifty 50 hit a fresh record high on Friday and logged its best week in five months as strong...

Updated 01 Dec, 2023 06:35pm

Bullion Rate

Gold set for third week of gains on Fed rate cut bets

Gold prices were set for a third straight weekly gain after data showing easing inflation raised expectations that...

Updated 01 Dec, 2023 06:33pm

Forex

Uganda shilling stable in quiet trade

KAMPALA: The Ugandan shilling traded stable on Friday amid a slowdown in both supply and demand of foreign exchange,...

Published 01 Dec, 2023 06:31pm

Sports

O’Sullivan ‘not bothered’ after reaching UK Championship quarters

Seven-time world champion Ronnie O’Sullivan said he has all but given up on snooker and ‘can’t be bothered’ anymore...

Published 01 Dec, 2023 06:28pm

Forex

Russian rouble slides to two-week low vs dollar as rally fades

MOSCOW: The Russian rouble slid to a two-week low past 90 to the dollar on Friday as a favourable month-end tax...

Published 01 Dec, 2023 06:27pm

Business & Finance

World Bank increases climate spending to 45%

DUBAI: The World Bank on Friday said it will increase the amount it spends annually on climate-related projects to...

Published 01 Dec, 2023 06:21pm

Currency

Open-market: rupee continues to strengthen against US dollar

The Pakistani rupee maintained its momentum against the US dollar in the open market on Friday, while the local...

Updated 01 Dec, 2023 06:12pm

South Asia

Afghanistan’s Taliban sends new ambassador to Beijing

Afghanistan’s Taliban administration has appointed a former spokesperson as ambassador to China, the foreign affairs...

Published 01 Dec, 2023 06:11pm

Companies

Automakers continue to shut production amid falling demand, raw material shortage

Amid a decline in demand and the inability to procure much-needed raw material, various companies in the auto sector...

Updated 01 Dec, 2023 06:06pm

Energy

Brazil to join OPEC+ but won’t cap oil output, Petrobras CEO says

RIO DE JANEIRO: Brazil is expected to join the OPEC+ group of oil-producing countries in January but would not take...

Published 01 Dec, 2023 06:05pm

Europe

COP28 needs to finalize exit on fossil fuels

BERLIN: The COP28 climate summit needs to finalize an exit from fossil fuels, rather than just aiming at reducing...

Published 01 Dec, 2023 06:02pm

Middle East

COP28: war makes threats of water and food scarcity more severe: Jordan King

DUBAI: Jordan’s King Abdullah said on Friday that war makes threats of water and food scarcity more severe, in his...

Published 01 Dec, 2023 06:00pm

Energy

Russian Urals crude drops to average $72.84/bbl in Nov, above Western price cap

MOSCOW: Russia’s flagship Urals crude oil blend traded at $72.84 per barrel on average in November, down from $81.52...

Published 01 Dec, 2023 05:57pm

Commodities

Strong China data, lower stocks push copper to three-month high

LONDON: Copper prices rose to a three-month high on Friday, on track for the third week of consecutive growth, due...

Updated 01 Dec, 2023 05:53pm

Europe

Swiss have frozen $8.8 billion of Russian assets

ZURICH: Switzerland has frozen an estimated 7.7 billion Swiss francs ($8.81 billion)in financial assets belonging to...

Published 01 Dec, 2023 05:43pm

Sports

New Zealand fail trial by spin, Bangladesh sniff victory in Sylhet

DHAKA: Bangladesh set New Zealand a daunting target of 332 on a turning track and then reduced them to 113 for seven...

Updated 01 Dec, 2023 05:30pm

Financial

India bond yields tick higher as supply pressure stays

MUMBAI: Indian government bond yields ended higher on Friday, rising for a second consecutive week as a constant...

Updated 01 Dec, 2023 05:26pm

Stocks

Sri Lanka shares end higher as financials, industrials rise

BENGALURU: Sri Lankan shares closed higher on Friday, aided by gains in financial and industrial stocks. The CSE All...

Published 01 Dec, 2023 05:25pm

Technology

US opens probe into 73,000 Chevrolet Volt cars over loss of power

WASHINGTON: A US auto safety regulator said on Friday it is opening an investigation into 73,000 Chevrolet Volt...

Published 01 Dec, 2023 05:21pm

Middle East

COP28 advisory board member resigns over reports of UAE fossil fuel dealmaking

DUBAI: A member of the main advisory board of the COP28 climate summit resigned on Friday over reports that the UAE...

Published 01 Dec, 2023 05:11pm

Bullion Rate

Gold price per tola down Rs500 in Pakistan

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

Published 01 Dec, 2023 04:22pm

Companies

Pakistan’s Interloop Limited completes equity stake in USA’s Top Circle Hosiery Mills

Interloop Limited (ILP), one of Pakistan’s largest textile exporters, has completed the acquisition of Top Circle...

Updated 01 Dec, 2023 04:01pm

South Asia

Iran blames Israel for renewed fighting with Hamas

TEHRAN: Iran on Friday blamed Israel and the United States for a resumption of fighting in the Gaza Strip. “After...

Published 01 Dec, 2023 03:44pm

Middle East

Qatar urges rapid international action to stop Gaza violence

DOHA: Qatar on Friday urged swift international action to stop violence in the Gaza Strip after renewed Israeli...

Published 01 Dec, 2023 03:18pm

Currency

Sterling hits fresh 2-1/2 month high versus euro, central banks in focus

Sterling hit a fresh 2-1/2-month high versus the euro as markets increased their bets on European Central Bank (ECB)...

Published 01 Dec, 2023 03:00pm

Commodities

India’s Oct-Nov sugar output drops as mills start late

MUMBAI: Indian mills have produced 4.32 million metric tons of sugar since the current season began on Oct. 1, down...

Published 01 Dec, 2023 02:58pm

Stocks

London stocks start December on strong footing as miners gain

UK’s FTSE 100 rose on Friday, with shares in industrial metal miners taking an early lead on higher metal prices and...

Published 01 Dec, 2023 02:42pm

Stocks

European shares climb ahead of economic data, Fed’s Powell remarks

European shares gained on Friday as investors cheered growing prospects of rate cuts on cooler-than-expected...

Published 01 Dec, 2023 02:40pm

Currency

South African rand little changed ahead of comments by Fed’s Powell

JOHANNESBURG: South Africa’s rand was little changed in early trade on Friday, as investors awaited comments by...

Published 01 Dec, 2023 02:34pm

Sports

Kyrgios thanks ‘big supporter’ Murray for noticing signs of self-harm

Nick Kyrgios said he is “thankful” to Andy Murray for looking out for him after he spotted signs of self-harm on the...

Published 01 Dec, 2023 02:29pm

Europe

Britain’s King Charles urges rapid environmental repair in COP28 speech

DUBAI: Britain’s King Charles said on Friday the world was “dreadfully far off track” on addressing climate change...

Published 01 Dec, 2023 02:21pm

Middle East

World leaders take COP28 stage as climate, Gaza share spotlight

DUBAI: World leaders descended on Dubai for UN climate talks on Friday, under pressure to step up efforts to limit...

Published 01 Dec, 2023 01:23pm

Sports

Saudi Arabia to host Asian Champions League Elite finals

HONG KONG: Saudi Arabia will host the first two editions of the Asian Champions League Elite finals when the...

Published 01 Dec, 2023 12:54pm

Govt embarks on restructuring PIA, PSM, railways

Federal government has periodically been releasing unbudgeted support to pay the salaries of Pakistan Steel Mills employees since 2013

Updated 01 Dec, 2023 12:42pm

Once in every 5 years: Govt would be required to design ‘SOEs policy’

ISLAMABAD: The federal government would be required, at least once in every five years, to prepare and prescribe a...

Updated 01 Dec, 2023 12:41pm

Middle East

Netanyahu says Israel committed to wartime objectives as fighting resumes

JERUSALEM: Israeli Prime Minister Benjamin Netanyahu said on Friday that Hamas did not agree to release further...

Published 01 Dec, 2023 12:38pm

Companies

Swiss Re targets higher 2024 net income of $3.6bn

ZURICH: Swiss Re expects to increase its net income to more than $3.6 billion for 2024, the company said on Friday,...

Published 01 Dec, 2023 12:35pm

Europe

Britain’s Sunak tries to reclaim climate narrative with $2bn pledge

DUBAI: Prime Minister Rishi Sunak will pledge 1.6 billion pounds ($2 billion) in funding at the U.N. climate summit...

Published 01 Dec, 2023 12:30pm

South Asia

Indian economy to exceed growth estimates after strong Q2 beat

MUMBAI: The Indian economy is projected to grow at a 6.7% -7% rate in the fiscal year ending March 31, 2024, several...

Published 01 Dec, 2023 12:24pm

Markets

Turkish manufacturing activity contracts in November: PMI

ISTANBUL: Turkish factory activity contracted for a fifth consecutive month in November as purchasing activity...

Published 01 Dec, 2023 12:20pm

Stocks

Tokyo’s Nikkei index closes lower

TOKYO: Tokyo’s key Nikkei 225 index ended lower on Friday, with a dearth of fresh market-moving events and some...

Updated 01 Dec, 2023 12:07pm

Currency

China’s yuan eases as PBOC shows greater tolerance for falls

SHANGHAI: China’s yuan eased against the dollar on Friday following weaker guidance from the central bank, which...

Published 01 Dec, 2023 12:03pm

South Asia

Malaysia invites China’s Xi to visit, ramps up tourism target

BEIJING: Malaysia has invited China’s President Xi Jingping to visit, its ambassador to Beijing said on Friday, as...

Published 01 Dec, 2023 11:54am

Stocks

Australian shares snap 3-day gaining streak as banks, tech stocks weigh

Australian shares snapped a three-day winning streak on Friday, starting the last month of the year on a negative...

Updated 01 Dec, 2023 11:46am

Europe

Ukraine downs 18 Russian drones in overnight strike

KYIV: The Ukrainian military shot down 18 out of 25 attack drones launched by Russia in its latest overnight strike,...

Published 01 Dec, 2023 11:38am

South Asia

Japan’s capital expenditure slows, keeps recession risk intact

TOKYO: Japan’s capital expenditure growth slowed in July-September despite companies reaping solid profits, data...

Published 01 Dec, 2023 11:34am

Commodities

Iron ore set for first weekly loss in seven as China monitors prices

SINGAPORE: Dalian iron ore futures were set for their first weekly loss in seven as China’s government continued to...

Published 01 Dec, 2023 10:20am

Cricket

Dominica withdraws from hosting T20 World Cup matches

Dominica has withdrawn as one of the co-hosts of next year’s T20 World Cup citing the delay in completing upgrades...

Published 01 Dec, 2023 10:18am

Commodities

Global aluminium producer seeks Q1 premium of $95/T

TOKYO: A global aluminium producer has offered Japanese buyers a premium of $95 per metric ton for January-March...

Published 01 Dec, 2023 10:14am

Commodities

Palm oil set for second weekly loss on poor demand, weak rivals

KUALA LUMPUR: Malaysian palm oil futures fell on Friday to their lowest since October, on course for a second week...

Published 01 Dec, 2023 10:06am

Stocks

India’s Nifty 50 hits all-time high after upbeat growth data

BENGALURU: India’s Nifty 50 hit a fresh record high on Friday, as faster-than-expected economic growth in the...

Published 01 Dec, 2023 10:01am

Stocks

China, HK stocks fall as factory activity data points to feeble recovery

SHANGHAI: China and Hong Kong stocks fell on Friday, with the Hang Seng Index on track for its worst week in two...

Published 01 Dec, 2023 09:56am

Forex

Dollar eases as traders weigh rate cut prospects

SINGAPORE: The dollar was on the back foot on Friday, while the euro nursed steep losses as traders weighed data...

Published 01 Dec, 2023 09:54am

GDP, exports and FDI potential: ‘Overregulation, low productivity main hindrance’

KARACHI: Overregulation and low productivity are preventing Pakistan from reaching its potential for GDP growth,...

Updated 01 Dec, 2023 09:50am

LHC, too, suspends SRO about tax on banks’ windfall income

ISLAMABAD: The Lahore High Court (LHC) has also suspended the SRO 1588(I)/2023 of the Federal Board of Revenue (FBR)...

Updated 01 Dec, 2023 09:50am

MoF says PD may ink TDS deal with KE

ISLAMABAD: While taking a principled position on proposed draft agreements with the government of Pakistan (GoP) and...

Updated 01 Dec, 2023 09:35am

Body approved to condone import and export-related curbs

ISLAMABAD: The federal cabinet has approved a three-member committee headed by caretaker Minister for Commerce to...

Updated 01 Dec, 2023 09:34am

Gas tariff hike: Karachi industrialists announce shutdown

KARACHI: The industrialists of Karachi have announced shutdown of all industries on Monday, December 4, demanding...

Updated 01 Dec, 2023 09:34am

GDP likely to decrease due to climate challenges: World Bank

ISLAMABAD: Pakistan’s GDP is expected to decrease by a minimum of 18 to 20 percent by 2050 due to severe...

Updated 01 Dec, 2023 09:16am

Taxes

FTO asks FBR to review ED regime

ISLAMABAD: Federal Tax Ombudsman (FTO) has directed the Federal Board of Revenue (FBR) to review whole regime of...

Updated 01 Dec, 2023 09:12am

BR Research

An export opportunity from the East wing

Bangladesh textile industry is in the news over the wage review, as the minimum wage in Bangladesh has been brought...

Published 01 Dec, 2023 09:12am

BR Research

Rice exports: not impressive enough

As news broke of a 31 percent increase in dollar earnings from rice exports, many broke out the proverbial...

Published 01 Dec, 2023 09:10am

Jul-Nov collection exceeds target

ISLAMABAD: The Federal Board of Revenue (FBR) has provisionally collected Rs3,484 billion during the first five...

Updated 01 Dec, 2023 09:08am

Pakistan

ECP reacts strongly to election ‘delay’ reports

ISLAMABAD: The Election Commission of Pakistan (ECP) has dismissed as baseless media reports regarding an expected...

Updated 01 Dec, 2023 09:08am

BR Research

Interview with Roman Yazbeck, Managing Director – PMPKL

‘Sustainability, in all dimensions, is at the core of our business strategy’ Since joining Philip Morris...

Published 01 Dec, 2023 09:02am

BR’s refresher: your morning briefing for the day

Important updates from November 30, 2023

Published 01 Dec, 2023 08:41am

Opinion

Hailing IHC’s interim order on windfall income tax on banking cos

Further our Technical Release 12/2023 dated November 28, 2023 wherein we have given our comments on the Windfall...

Updated 01 Dec, 2023 05:12am

Pakistan

The Weather

KARACHI: The weather report on Thursday (November 30, 2023) and the forecast for Friday (December 01, 2023)...