News Archives for Latest - 2023-12-07

USA

US imposes sanctions on Iran-backed network funding Yemen’s Houthis

WASHINGTON: The United States imposed sanctions on Thursday on 13 individuals and entities for allegedly funneling...

Published 07 Dec, 2023 11:04pm

World

Israel-Gaza conflict to ‘severely depress’ Palestinian economy: IMF

WASHINGTON: The ongoing conflict between Israel and Hamas in Gaza is expected to “severely depress” the Palestinian...

Published 07 Dec, 2023 10:54pm

Europe

UN aid chief sees ‘promising signs’ of Gaza access via Israel crossing

GENEVA: UN humanitarian chief Martin Griffiths said Thursday he saw promising signs that the Kerem Shalom crossing...

Published 07 Dec, 2023 10:51pm

Europe

Ukraine urges people to save energy after plant hit

KYIV: Ukraine on Thursday told residents to save energy after a power plant near the front line was hit by shelling,...

Published 07 Dec, 2023 10:36pm

Pakistan

Al-Azizia case: IHC says will hear Nawaz’s appeal on merit

Nawaz appears before the IHC
Hearing adjourned till Tuesday (Dec 12)

Updated 07 Dec, 2023 10:35pm

Forex

Pakistan’s central bank reserves decrease $237mn, now stand at $7.02bn

Total liquid foreign reserves held by country stand at $12.1 billion as of December 1

Updated 07 Dec, 2023 10:34pm

Forex

Inter-bank: rupee secures marginal gain against US dollar

Currency appreciates 0.01%, settles at 284.12 against greenback

Updated 07 Dec, 2023 10:32pm

Business & Economy

Pakistan’s future is ‘very bright’: IMF officials laud improvement in economic situation

It's one of the most important countries in the region and in the world. Pakistanis deserve much more,' says Bahador Bijani, IMF Executive Director

Updated 07 Dec, 2023 10:31pm

World

Hundreds more Palestinians killed as Israel moves into Southern Gaza

Total death toll in Gaza reaches 17,177, says health ministry

Updated 07 Dec, 2023 10:30pm

Sports

Franchises announce retentions for PSL 2024

All six franchises have finalised their trades and player retentions ahead of the Pakistan Super League (PSL) Player...

Published 07 Dec, 2023 10:08pm

Forex

Open market: rupee unchanged against US dollar

The Pakistani rupee remained unchanged against the US dollar in the open market on Thursday, while the local...

Updated 07 Dec, 2023 09:50pm

Pakistan

Illegal foreigners impact Pakistan’s security, economy: COAS

Says decision to repatriate them taken by government in interest of Pakistan

Updated 07 Dec, 2023 09:39pm

Middle East

Death toll in Gaza reaches 17,177: health ministry

GAZA/CAIRO: Israel has killed at least 17,177 people in the Gaza Strip, the health ministry in the Palestinian...

Updated 07 Dec, 2023 09:21pm

Europe

Denmark passes bill to stop Holy Quran burnings

COPENHAGEN: Denmark’s parliament passed a bill on Thursday that makes it illegal to burn copies of the Holy Quran in...

Updated 07 Dec, 2023 09:19pm

Middle East

Saudi crown prince, Russia's Putin stress need for OPEC+ to commit to deal

DUBAI: Saudi Crown Prince Mohammed bin Salman and Russian President Vladimir Putin stressed in their meeting in...

Updated 07 Dec, 2023 09:12pm

Technology

EV charging stations incurring ‘high cost’, insiders say

High cost of electricity is a major reason that investors are still reluctant to set up charging infrastructure for...

Published 07 Dec, 2023 08:59pm

Stocks

Stock markets diverge, oil in slight rebound

LONDON: Global stock markets diverged on Thursday, on the eve of key US jobs data, as oil prices rebounded slightly...

Published 07 Dec, 2023 08:57pm

Stocks

US stocks open higher as market seeks to regain momentum

NEW YORK: Wall Street stocks rose early Thursday as markets seek to shrug off lackluster trading this week ahead of...

Published 07 Dec, 2023 07:54pm

Commodities

Copper firms on Chinese export data and weaker dollar

LONDON: Copper prices rose in London on Thursday, halting a three-session run of declines, helped by strong Chinese...

Published 07 Dec, 2023 07:13pm

USA

US weekly jobless claims increase slightly

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

Published 07 Dec, 2023 07:09pm

Stocks

Bulls dominate as KSE-100 hits new peak above 64,700

Bulls continued to dominate at the Pakistan Stock Exchange (PSX), as its benchmark KSE-100 Index hit a new peak on...

Updated 07 Dec, 2023 07:04pm

Energy

Asia-Europe LNG spread at widest level in almost a year

SINGAPORE/LONDON: The Asia-Europe liquefied natural gas (LNG) spread has hit its widest level in about a year, data...

Published 07 Dec, 2023 07:03pm

Business & Finance

IPO: Dubai Taxi Company shares surge over 19% on first day of trading

CEO says record-breaking demand for IPO, which was 130 times oversubscribed, reflects strength of DTC's investment proposition as Dubai’s largest mobility company

Published 07 Dec, 2023 06:59pm

Europe

Russia sets presidential election for March 17

MOSCOW: Russia on Thursday set March 17 as the date for a presidential election which is expected to be another...

Published 07 Dec, 2023 06:55pm

Pakistan

Death toll from fire at Karachi’s Ayesha Manzil rises to 5

The death toll from the fire that erupted on the ground floor of a building in Ayesha Manzil on Wednesday rose to...

Updated 07 Dec, 2023 06:36pm

Stocks

Most Gulf bourses fall on weak oil, Saudi edges higher

Most stock markets in the Gulf ended lower on Thursday on weak oil prices, although the Saudi index bucked the trend...

Published 07 Dec, 2023 06:21pm

Asia

China’s Xi to visit Vietnam next week

BEIJING: Chinese President Xi Jinping will visit neighbouring Vietnam next week to push for deeper ties between the...

Published 07 Dec, 2023 05:55pm

Forex

Bitcoin rally shines spotlight on investor risks

LONDON: A much-anticipated US approval of wider bitcoin trading has helped the world’s biggest cryptocurrency reach...

Published 07 Dec, 2023 05:51pm

Europe

Kremlin says hopes US Congress will block future Ukraine aid

MOSCOW: The Kremlin said Thursday it hoped US lawmakers would continue to block White House requests for emergency...

Published 07 Dec, 2023 05:49pm

Cricket

Munro slams 99 as Heat crush Stars to open Big Bash League

BRISBANE: Big-hitting New Zealander Colin Munro slammed an unbeaten 99 to help steer Brisbane Heat to a 103-run...

Published 07 Dec, 2023 05:46pm

Stocks

Stock markets retreat, oil in slight rebound

LONDON: European and Asian stock markets retreated Thursday on the eve of key US jobs data, as oil prices rebounded...

Updated 07 Dec, 2023 05:32pm

Asia

EU tells China ‘differences’ must be addressed

BEIJING: EU President Ursula von der Leyen told Chinese leader Xi Jinping on Thursday that the bloc and its biggest...

Published 07 Dec, 2023 05:29pm

Europe

New aid pledges to Ukraine at lowest level since war began: study

PARIS: Ukraine’s allies have drastically scaled back their pledges of new aid to the country, which have fallen to...

Published 07 Dec, 2023 05:26pm

South Asia

Singapore, China plan reciprocal 30-day visa-free entry

Singapore and China will put in place a 30-day mutual visa exemption agreement early next year, the Singapore...

Published 07 Dec, 2023 05:09pm

Bullion Rate

Gold price per tola increases Rs800 in Pakistan

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

Published 07 Dec, 2023 04:26pm

Stocks

Indian shares break recent rally to settle lower ahead of RBI policy

BENGALURU: India’s benchmark indexes fell on Thursday after rallying for seven consecutive sessions, as investors...

Published 07 Dec, 2023 04:34pm

Stocks

Sri Lanka shares end higher as industrials, consumer staples rise

BENGALURU: Sri Lankan shares closed higher on Thursday, aided by gains in industrial and consumer staple stocks. The...

Published 07 Dec, 2023 04:31pm

Commodities

Palm oil falls for fifth straight day on weak rival oils, crude

JAKARTA: Malaysian palm oil futures extended declines to a fifth straight session on Thursday, the longest losing...

Published 07 Dec, 2023 04:28pm

Opinion

PARTLY FACETIOUS: We are extremely thick skinned

“Hmmm that’s Pakistani character.” “What?” “Well Danny boy accused The Visionary…” “I don’t know...

Updated 07 Dec, 2023 04:22pm

Movies & Music

Sean ‘Diddy’ Combs accused in gang-rape of teenager in New York

Hip-hop star Sean “Diddy” Combs was accused in federal court on Wednesday of taking part in the gang rape of a...

Published 07 Dec, 2023 03:52pm

Perspectives

Millennials: how does this generation fare in current times

What is the fastest way to observe survival of the fittest amongst human beings? The changes in each generation over...

Published 07 Dec, 2023 02:53pm

Sports

Rain washes out second day of Bangladesh v NZ Test in Mirpur

DHAKA: Unrelenting rain prompted match officials to call off the entire second day’s play in the second Test between...

Updated 07 Dec, 2023 02:59pm

Stocks

Major Gulf markets fall on weak oil prices

Major stock markets in the Gulf dropped in early trade on Thursday on weak oil prices with the Qatari index on...

Published 07 Dec, 2023 02:57pm

Stocks

Stronger pound pulls UK’s FTSE 100 lower in early trade

The UK’s FTSE 100 fell in broad-based declines on Thursday as a strengthening pound weighed on the exporter-heavy...

Published 07 Dec, 2023 02:55pm

Europe

Bird flu found on another German poultry farm

HAMBURG: About 6,700 ducks and geese are to be slaughtered after an outbreak of the highly pathogenic H5N1 bird flu...

Published 07 Dec, 2023 02:50pm

Energy

Oil stages small recovery as weak economic outlook lingers

LONDON: Oil prices reclaimed some ground on Thursday after tumbling to a six-month low the previous day but...

Updated 07 Dec, 2023 02:47pm

Companies

NLC successfully transports cargo shipment to Kyrgyzstan

In pursuit of its commitment to enhance regional connectivity, National Logistics Corporation (NLC) achieved another...

Published 07 Dec, 2023 02:47pm

Luxury

New York’s Met takes a feminist look at global fashion

NEW YORK: New York’s Metropolitan Museum has pulled the curtain back on its latest blockbuster exhibit, showcasing...

Published 07 Dec, 2023 02:19pm

Markets

Engro Polymer and Chemicals inks gas supply deal with SSGC

Engro Polymer and Chemicals Limited (EPCL), a subsidiary of Engro Corporation, said on Wednesday it has entered into...

Published 07 Dec, 2023 01:45pm

South Asia

India PM Modi’s Sikh separatist fight driven by security, politics

NEW DELHI: Indian Prime Minister Narendra Modi is focussed on combating Sikh separatism, despite its scant support...

Published 07 Dec, 2023 01:37pm

Europe

Girl, 14, shoots student dead before killing herself at Russian school

MOSCOW: A 14-year-old girl shot a fellow pupil dead and wounded five other people before killing herself at a school...

Published 07 Dec, 2023 01:32pm

Business & Finance

German industrial output falls unexpectedly in October

BERLIN: German industrial production unexpectedly fell 0.4% in October compared to the previous month, the federal...

Published 07 Dec, 2023 01:01pm

Europe

Ukraine’s Danube port infrastructure hit by Russian drones, driver killed

KYIV: A driver was killed and grain infrastructure damaged by a Russian drone attack on Ukrainian grain...

Published 07 Dec, 2023 12:59pm

Mutual Funds

JGB yields rise from multi-month lows after weak 30-year bond auction

TOKYO: Japanese government bond (JGB) yields rose on Thursday, pulling further away from multi-month lows touched...

Published 07 Dec, 2023 12:57pm

Business & Finance

Saudi Q3 GDP shrinks 4.4% y/y, in line with earlier estimates

RIYADH: Saudi Arabia’s real gross domestic product (GDP) contracted by 4.4% in the third quarter, government data...

Published 07 Dec, 2023 12:56pm

Commodities

South Korea’s KFA tenders for up to 138,000 T corn

HAMBURG: South Korea’s Korea Feed Association (KFA) had issued an international tender to purchase up to 138,000...

Published 07 Dec, 2023 12:55pm

Forex

South African rand unchanged ahead of Q3 current account data

JOHANNESBURG: The South African rand was unchanged in early trade on Thursday ahead of third quarter current account...

Published 07 Dec, 2023 12:53pm

Technology

India’s Paytm tumbles on plan to curtail low-value personal loans

BENGALURU: India’s Paytm plunged as much as 20% on Thursday, its steepest decline since listing two years ago, as...

Published 07 Dec, 2023 12:52pm

Middle East

UAE planning to develop a national investment strategy

ABU DHABI: The United Arab Emirates is working on developing a national investment strategy, its recently appointed...

Published 07 Dec, 2023 12:51pm

Sports

Pakistan hope to put chaos behind them and focus on Australia Tests

Whitewashed in each of their last five Test tours of Australia, optimism will be in short supply for Pakistan ahead...

Published 07 Dec, 2023 12:48pm

Middle East

Moldova volunteers to run COP29 climate summit, Serbia also mulls bid

DUBAI: Moldova has put itself forward as a candidate for the presidency of next year’s UN climate summit and Serbia...

Published 07 Dec, 2023 12:46pm

Asia

ASEAN+3 agree on new financing facility to fend off crisis

TOKYO: Deputies of the ASEAN+3 group of nations agreed on Thursday to set up a new regional lending facility to...

Published 07 Dec, 2023 12:44pm

Technology

EU countries, lawmakers reach deal on rules for ChatGPT, other systems

BRUSSELS: EU countries and lawmakers have agreed on rules governing artificial intelligence systems such as ChatGPT...

Published 07 Dec, 2023 12:43pm

Companies

Renault announces plans to cut its vehicle production costs

PARIS: French carmaker Renault announced plans on Thursday to cut its production costs per vehicle, and also said it...

Published 07 Dec, 2023 12:41pm

Stocks

Hong Kong stocks track US losses at open

HONG KONG: Selling resumed at the open in Hong Kong on Thursday after a much-needed positive day, with traders...

Published 07 Dec, 2023 12:07pm

Europe

UK minister quits over Rwanda bill, heaping pressure on PM Sunak

LONDON: Britain’s ruling Conservative party was in disarray Wednesday after its immigration minister quit over...

Published 07 Dec, 2023 12:05pm

Sports

Kyrgios, Raducanu missing from Australian Open entry list

MELBOURNE: Showstopper Nick Kyrgios and former US Open champion Emma Raducanu were notable absentees Thursday from...

Published 07 Dec, 2023 11:57am

Business & Finance

McDonald’s eyes big expansion, plans CosMc’s small-chain pilot

NEW YORK: McDonald’s announced an aggressive expansion roadmap Wednesday to reach 50,000 restaurants worldwide by...

Published 07 Dec, 2023 11:54am

Asia

US military grounds fleet of Osprey after crash off Japan

WASHINGTON: The US military announced Wednesday it was grounding its fleet of V-22 Osprey tilt-rotor aircraft...

Published 07 Dec, 2023 11:52am

Business & Finance

Nissan hit by ‘cyber incident’ in Australia, New Zealand

WELLINGTON: Japanese car giant Nissan warned customers Thursday that its operations in Australia and New Zealand had...

Published 07 Dec, 2023 11:49am

Asia

Indonesia ends search after volcano eruption kills 23

JAKARTA: Indonesian authorities on Thursday said they had ended a search and rescue mission for any hikers missing...

Published 07 Dec, 2023 11:47am

USA

Republicans round on surging Haley in fiery US primary debate

TUSCALOOSA: Republican presidential hopefuls sought to halt surging Nikki Haley’s momentum in an acrimonious fourth...

Published 07 Dec, 2023 11:44am

Business & Finance

China says exports rise for first time in seven months

BEIJING: Chinese exports rose in November for the first time in seven months, officials said Thursday, as the...

Published 07 Dec, 2023 11:35am

Sports

Suarez fires farewell double to end Brazilian adventure

RIO DE JANEIRO: Luis Suarez scored twice in his farewell match for Gremio as the Brazilian side defeated Fluminense...

Published 07 Dec, 2023 11:32am

Pakistan

Soaring pollution in Pakistan’s Lahore fills wards with sick children

LAHORE: In the packed paediatric emergency room of a Lahore public hospital, parents holding sick children lined up...

Published 07 Dec, 2023 11:30am

Europe

We meet in Moscow next time: Putin told MbS

MOSCOW: President Vladimir Putin said that a planned visit by Saudi Crown Prince Mohammed bin Salman to Russia had...

Published 07 Dec, 2023 11:16am

Technology

Meta to start fully encrypting messages on Facebook and Messenger

Meta Platforms said on Wednesday it has started to roll out end-to-end encryption for all personal chats and calls...

Published 07 Dec, 2023 11:07am

Sports

Curran, Buttler back in form as England beat Windies to level series

Sam Curran took three wickets and Jos Buttler scored a half-century to help England claim a six-wicket victory over...

Published 07 Dec, 2023 11:04am

Forex

India rupee to struggle as weak risk boosts safe-haven dollar

MUMBAI: The Indian rupee is expected to decline at open on Thursday as poor risk appetite fuelled demand for the...

Published 07 Dec, 2023 10:59am

Asia

Top EU officials meet with Xi in China summit with trade in focus

BEIJING: Top EU officials met Chinese President Xi Jinping in Beijing on Thursday for their first in-person summit...

Published 07 Dec, 2023 10:57am

Bullion Rate

Gold prices firm as US jobs data fuels rate-cut bets

Gold prices rose on Thursday, as signs of a cooling US labour market supported bets of an interest rate cut early...

Published 07 Dec, 2023 10:49am

Stocks

Japan’s Nikkei tracks Wall Street lower; US jobs in focus

TOKYO: Japan’s Nikkei share average fell sharply on Thursday following Wall Street declines overnight ahead of key...

Published 07 Dec, 2023 10:46am

Commodities

Wheat pauses after hitting 4-month high on US sales to China

CANBERRA: Chicago wheat futures held steady on Thursday after a third large Chinese purchase of US wheat in three...

Published 07 Dec, 2023 10:44am

Stocks

Australian shares retreat from 2-month high as financials weigh

Australian shares retreated on Thursday from a two-month high clocked in the previous session, with financials and...

Published 07 Dec, 2023 10:42am

Mutual Funds

Focus on India central bank policy curbs fall in bond yields

MUMBAI: Indian government bond yields dipped only slightly on Thursday, as the Reserve Bank of India’s (RBI)...

Published 07 Dec, 2023 10:40am

Stocks

China stocks touch 5-year low on Moody’s negative outlook

SHANGHAI: China’s blue-chip shares hit a nearly five-year low on Thursday, and Hong Kong stocks also fell as Moody’s...

Published 07 Dec, 2023 10:38am

Forex

Most Asian currencies, stocks drop; traders eye key US jobs report

Most emerging Asian currencies and stocks declined on Thursday, as investors stayed cautious ahead of a key US jobs...

Published 07 Dec, 2023 10:36am

Forex

Yuan slips, weighed by mixed trade data, Moody’s outlook

SHANGHAI: China’s yuan eased against the dollar on Thursday after mixed trade data showed more support was needed to...

Published 07 Dec, 2023 10:34am

Stocks

Indian shares fall as sustained rally comes to a pause

BENGALURU: India’s benchmark indexes fell on Thursday, dragged by financials in a consolidation of sorts after...

Published 07 Dec, 2023 10:31am

Commodities

London copper prices flat as traders await fresh impetus

London copper prices were flat on Thursday as traders refrained from making active bets in the absence of any major...

Published 07 Dec, 2023 10:30am

USA

Do not let Putin win, Biden pleads with Republicans on Ukraine

WASHINGTON: President Joe Biden pleaded with Republicans on Wednesday for a fresh infusion of military aid for...

Published 07 Dec, 2023 10:15am

Govt likely to drop 137 PSDP nonstarters

May also explore the possibility of transferring provincial nature projects funded from federal PSDP to the respective provinces

Updated 07 Dec, 2023 10:12am

USA

Las Vegas campus shooting leaves 4 dead, including suspect

A lone shooter opened fire on the main campus of the University of Nevada, Las Vegas, on Wednesday, killing three...

Published 07 Dec, 2023 10:10am

Stocks

Asian shares fall with Wall Street, oil helps boost bonds

SYDNEY: Asian shares fell with Wall Street on Thursday, while a sharp fall in oil prices to a five-month low...

Published 07 Dec, 2023 10:07am

Forex

Dollar steady, euro near three-week low as rate cut bets rise

SINGAPORE: The euro languished near a three week low on Thursday as traders intensified bets that the European...

Published 07 Dec, 2023 10:05am

Energy

China oil demand seen peaking by 2030

BEIJING: China’s oil demand is expected to peak by 2030 at between 780 and 800 million metric tons per year, a...

Published 07 Dec, 2023 10:00am

‘Illegal’ LCs, forex market speculation: MoF set to share list of banks with SIFC today

ISLAMABAD: The Finance Ministry is all set to share the list of banks involved in illegal business relating to LCs...

Updated 07 Dec, 2023 09:49am

Three projects: ADB approves $659m in financing

ISLAMABAD: The Asian Development Bank (ADB) has approved three projects totaling $658.8 million to help Pakistan...

Updated 07 Dec, 2023 09:48am

Digitising budget process: Shamshad chairs IMF mission meeting

ISLAMABAD: Federal Minister for Finance, Revenue, and Economic Affairs Dr Shamshad Akthar chaired the kick-off...

Updated 07 Dec, 2023 09:48am

Companies

Landmark achievement: IMC holds line-off ceremony for first locally-made HEV

KARACHI: In a landmark event for the Pakistani automotive industry, Indus Motor Company (IMC) held line-off ceremony...

Updated 07 Dec, 2023 09:41am

CPEC 10th anniversary: there exists strong commitment to accelerate pace of ongoing projects

ISLAMABAD: The year marked the 10th anniversary of the China-Pakistan Economic Corridor (CPEC), a flagship project...

Updated 07 Dec, 2023 09:21am

Customs values of various goods changed

ISLAMABAD: The Directorate General of Customs Valuation Karachi has revised customs values on the import of Hot Melt...

Updated 07 Dec, 2023 09:20am

Loss-making Discos: FD opposes PD’s proposal

ISLAMABAD: The Finance Division has reportedly opposed a proposal of the Power Division regarding establishment of...

Updated 07 Dec, 2023 09:20am

Business & Finance

New FAB ED: govt initiates appointment process

ISLAMABAD: The government has initiated the process for appointing new Executive Director Frequency Allocation Board...

Updated 07 Dec, 2023 09:17am

FWBL sell-off: Minister briefed about status of accounts

ISLAMABAD: Caretaker Federal Minister for Privatisation Fawad Hasan Fawad chaired a meeting of the Privatisation...

Updated 07 Dec, 2023 09:16am

‘Delayed’ CASA-1000 project: World Bank reluctant to arrange funds

ISLAMABAD: The World Bank is said to have shown reluctance in the arrangement of funds for the delayed Central...

Updated 07 Dec, 2023 09:15am

Power sector: Nepra backs transition from Libor to ‘SOFR’

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) has supported indiscriminate transition from USD...

Updated 07 Dec, 2023 09:15am

BR’s refresher: your morning briefing for the day

Important updates from December 6, 2023

Published 07 Dec, 2023 08:58am

BR Research

Discos’ horror show

Another exercise of clearing the energy sector circular debt stock via dividends, Sukuks or direct cash transfer is...

Published 07 Dec, 2023 08:09am

BR Research

Hub Power Company Limited

The Hub Power Company Limited (PSX: HUBC) is the first and largest Independent Power Producer (IPP) in the country...

Published 07 Dec, 2023 08:06am

Opinion

Why Erdogan is right about Hamas

Why do you think Genocide Joe – POTUS’s new nickname advocated by American Muslim champions of the Abandon Biden...