News Archives for Latest - 2023-12-18

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Archive - 2023-12-18

Middle East

US defense chief urges Israel to do more to protect Gaza civilians

CAIRO: US Defense Secretary Lloyd Austin said on Monday Washington’s support for Israel was “unshakable” but he...

Updated 18 Dec, 2023 11:54pm

World

Yemen rebels attack Red Sea tankers as shipping firms suspend traffic

DUBAI: Yemen’s Iran-backed Houthi rebels said Monday they had attacked two “Israeli-linked” vessels in the Red Sea...

Updated 18 Dec, 2023 11:33pm

USA

Finland bolsters military ties with US after Putin warning

WASHINGTON: Finland on Monday signed an agreement to enhance military cooperation with the United States, a day...

Published 18 Dec, 2023 11:21pm

Europe

EU adopts new round of sanctions on Russia

BRUSSELS: The European Union on Monday adopted a new package of sanctions on Russia that include an import ban on...

Published 18 Dec, 2023 11:13pm

Europe

Putin says girls are Russia’s labour force ‘reserve’

MOSCOW: Russian President Vladimir Putin on Monday urged traditionally male professions to employ more women, to...

Published 18 Dec, 2023 10:59pm

Pakistan

Pakistan, Iran foreign ministers discuss bilateral, regional issues

The two Foreign Ministers reaffirm their commitment to further reinforce Pakistan-Iran brotherly ties

Updated 18 Dec, 2023 10:00pm

Business & Economy

Pakistan’s FDI up over 8% in first five months of FY24

During November alone, net FDI amounted to $131.4mn, a 12% increase when compared with the same month of the previous year

Updated 18 Dec, 2023 09:38pm

Stocks

KSE-100 succumbs to profit-taking, falls over 900 points

Plunges near 65,000 level after 1.4% loss on opening day of the week

Updated 18 Dec, 2023 09:32pm

Forex

Inter-bank: rupee registers fifth consecutive gain against US dollar

Currency appreciates 0.02%, settles at 283.21 against greenback

Updated 18 Dec, 2023 09:17pm

Energy

Millat Energy Group eyes 76% stake in Hascol Petroleum

OMC authorises potential investor to undertake due diligence

Updated 18 Dec, 2023 08:32pm

Middle East

US defence chief in Israel in push to ease intensity of Gaza offensive

CAIRO/GAZA: Israel faced pressure from the visiting US defence chief and censure from a global rights group on...

Published 18 Dec, 2023 08:07pm

Stocks

US stocks edge up after seven weeks of gains

NEW YORK: Wall Street stocks advanced early Monday after major indices posted a seventh straight week of gains,...

Published 18 Dec, 2023 08:02pm

Middle East

CIA chief to meet Israeli, Qatari officials for hostage deal talks

CIA chief Bill Burns will meet Qatari Prime Minister Mohammed bin Abdulrahman Al Thani and the head of Israel’s...

Published 18 Dec, 2023 07:43pm

Africa

Egypt's President Sisi re-elected with 89.6% of vote

CAIRO: Egypt’s President Abdel Fattah al-Sisi has won a new six-year term with 89.6 percent of the vote, the...

Updated 18 Dec, 2023 07:28pm

Pakistan

Sarfaraz Bugti joins PPP after resigning as interim interior minister

He is expected to contest the provincial elections from Dera Bugti

Updated 18 Dec, 2023 07:26pm

Energy

Oil rises by more than 1% on Red Sea tanker attack, re-routings

LONDON: Oil rose more than 1% on Monday as attacks by the Houthis on ships in the Red Sea raised concerns of oil...

Updated 18 Dec, 2023 06:36pm

Middle East

EU’s Borrell slams Israel’s ‘appalling lack of distinction’ in Gaza

BRUSSELS: Israel’s military is showing “an appalling lack of distinction” in its targeting in Gaza, the EU’s top...

Published 18 Dec, 2023 06:23pm

Forex

Open market: rupee stable against US dollar

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

Updated 18 Dec, 2023 06:12pm

Life & Style

Princess Diana dress sells for record $1.1mn at auction

LONDON: An evening dress worn by the late Princess Diana has sold for $1.1 million, 11 times its estimate, breaking...

Updated 18 Dec, 2023 06:11pm

South Asia

Bangladesh parties launch campaigns, opposition boycott

DHAKA: Bangladesh’s political parties launched campaigns on Monday ahead of general elections next month, with...

Published 18 Dec, 2023 05:52pm

Africa

Kenya, EU ink ‘historic’ trade deal

NAIROBI: Kenya and the European Union on Monday signed a long-negotiated trade agreement to increase the flow of...

Published 18 Dec, 2023 05:37pm

Forex

Pakistan’s current account posts surplus of $9mn in November

This is the first surplus since June 2023

Updated 18 Dec, 2023 05:35pm

Stocks

Top equity markets mostly down as Fed rate-cut rally fades

LONDON: Major stock markets mostly fell Monday following last week’s rally, with Federal Reserve officials looking...

Updated 18 Dec, 2023 05:33pm

Europe

Erdogan visits Hungary in bid to deepen bilateral ties

BUDAPEST: Turkish President Recep Tayyip Erdogan arrived in Budapest on Monday to meet with his Hungarian ally...

Published 18 Dec, 2023 05:31pm

Travel

‘Sports tourism, train travel’: Conde Nast Traveler identifies biggest travel trends for 2024

Scoping planes, trains and automobiles, elite travel journal Conde Nast Traveler has marked a series of new...

Updated 18 Dec, 2023 05:30pm

Football

Dortmund forward Adeyemi to miss ‘several weeks’ with injury

BERLIN: Borussia Dortmund forward Karim Adeyemi will be missing for “several weeks” due to an ankle injury, the...

Published 18 Dec, 2023 05:28pm

Europe

EU launches ‘illegal content’ probe into Elon Musk’s X

BRUSSELS: The EU on Monday announced “formal infringement proceedings” against Elon Musk’s X platform under a law...

Published 18 Dec, 2023 05:09pm

Commodities

Palm oil rises on output concerns, lower inventories

NEW DELHI: Malaysian palm oil futures settled higher on Monday as falling inventories and concerns over output due...

Published 18 Dec, 2023 04:37pm

Commodities

Cotton arrival inches up 3.5% in first two weeks of Dec: PCGA

Cotton arrival in Pakistan witnessed an increase of 3.5% as of December 15 compared to November 30, showed the...

Updated 18 Dec, 2023 04:35pm

Stocks

Indian shares snap rally to record highs as financials weigh

BENGALURU: India’s Nifty 50 and Sensex fell on Monday after rallying to record highs for most of this month as...

Published 18 Dec, 2023 04:33pm

Pakistan

Imran Khan uses AI-crafted speech to call for votes

ISLAMABAD: Pakistan’s jailed former prime minister, Imran Khan, used an audio clip generated by artificial...

Published 18 Dec, 2023 04:32pm

Stocks

Sri Lanka shares end lower as industrials, financials drag

CSE All Share index declined 0.65% at 10,672.69

Published 18 Dec, 2023 04:31pm

Commodities

Copper slips, but prospect of tight supplies sustains sentiment

LONDON: Copper prices came under pressure on Monday due to worry about weak demand in top consumer China, but mine...

Published 18 Dec, 2023 04:28pm

Pakistan

ECP reserves verdict on PTI’s intra-party elections

The Election Commission of Pakistan (ECP) reserved on Monday its verdict on a set of petitions challenging the...

Updated 18 Dec, 2023 03:59pm

Pakistan

LHC orders release of PTI’s Sher Afzal Marwat

Says the politician should be released against surety bonds

Published 18 Dec, 2023 03:54pm

Middle East

Israel intentionally starving civilians in Gaza: HRW

OCCUPIED JERUSALEM: The group Human Rights Watch on Monday accused the Israeli government of intentionally starving...

Published 18 Dec, 2023 03:29pm

Africa

At least eight killed in Guinea oil terminal blast, police officer says

CONAKRY: At least eight people were killed and 84 injured after a blast at an oil terminal in Guinea’s capital,...

Updated 18 Dec, 2023 02:45pm

Forex

Kenyan shilling firms in thin trade, remittances expected to boost

NAIROBI: Kenya’s shilling gained ground against the dollar on Monday and it was expected to get support from...

Published 18 Dec, 2023 02:43pm

Stocks

Major Gulf markets ease as rate cut hopes teetered

Major Gulf markets were subdued in early trade on Monday after the New York Federal Reserve president pushed back...

Published 18 Dec, 2023 02:05pm

Forex

South African rand little changed in early deals

JOHANNESBURG: South Africa’s rand was little changed early on Monday, holding onto gains from last week as analysts...

Published 18 Dec, 2023 02:03pm

Forex

Russian rouble falls to near one-week low versus dollar

MOSCOW: The Russian rouble slipped to a near one-week low to the dollar on Monday, easing after the central bank on...

Published 18 Dec, 2023 02:01pm

Commodities

India’s Oct 1-Dec 15 sugar output drops 10.7% y/y

MUMBAI: Indian mills produced 7.4 million metric tons of sugar between Oct. 1 and Dec. 15, a 10.7% fall from the...

Published 18 Dec, 2023 01:58pm

Stocks

UK’s FTSE 100 flat at start of data-packed week; Vodafone shines

The UK’s FTSE 100 was flat on Monday as investors awaited more global economic data this week, while Vodafone’s...

Published 18 Dec, 2023 01:56pm

Business & Finance

India likely to achieve fiscal deficit target in 2023-24, says govt

NEW DELHI: The Indian government is likely to achieve its fiscal deficit target of 5.9% of gross domestic product...

Published 18 Dec, 2023 01:55pm

Commodities

Saudi Arabia buys 1,353,000 tons of wheat in tender

DUBAI: Saudi Arabia bought 1,353,000 metric tons of wheat in a tender, the General Food Security Authority (GFSA)...

Published 18 Dec, 2023 01:52pm

Pakistan

At least 2 dead, several injured in gas cylinder explosion in Karachi

Residential building in Karachi’s Machhar Colony collapses due to a gas cylinder explosion

Published 18 Dec, 2023 01:34pm

Europe

Russian PM Mishustin to meet Xi while visiting China for talks this week

MOSCOW: Russian Prime Minister Mikhail Mishustin will meet Chinese President Xi Jinping during a visit to China on...

Published 18 Dec, 2023 12:42pm

Sports

Pakistan’s tough-talking coach has no doubts his side can beat Australia

MELBOURNE: Pakistan will hope Shaheen Afridi can bowl himself back into form and his batting team mates can rebuild...

Published 18 Dec, 2023 12:38pm

South Asia

IndiaMART is working with Novo Nordisk to halt illegal Wegovy sales

HYDERABAD: Indian online marketplace IndiaMART has been removing unauthorized listings of Novo Nordisk’s blockbuster...

Published 18 Dec, 2023 12:15pm

Europe

Ukraine-based Russian paramilitaries claim cross-border attack

The Freedom of Russia Legion, a Ukrainian-based paramilitary group of Russians who oppose President Vladimir Putin,...

Published 18 Dec, 2023 12:09pm

Commodities

Palm extends gains on production concerns, lower inventories

NEW DELHI: Malaysian palm oil futures jumped on Monday due to falling inventories and expectations of lower output...

Published 18 Dec, 2023 12:01pm

Energy

Goldman cuts 2024 Brent price forecast on strong US supply

Goldman Sachs trimmed its price expectation for Brent crude in 2024 by $10 per barrel to between $70 and $90, saying...

Published 18 Dec, 2023 11:58am

Sports

Liverpool’s Klopp dampens title talk ahead of packed schedule

Liverpool manager Juergen Klopp said it is too soon to be talking about his side being title contenders after they...

Published 18 Dec, 2023 11:55am

South Asia

Temple promised by BJP transforms Indian city but Muslims, some locals feel neglected

AYODHYA: In this northern Indian city once marred by communal tensions, labourers are finalizing a $6 billion...

Published 18 Dec, 2023 11:51am

Property registration in Punjab: Mega WHT evasion scam unearthed

Tax office of Federal Board of Revenue conducts an electronic audit of property registrars in Punjab

Updated 18 Dec, 2023 11:51am

Europe

Festive food and fizz top Europeans’ Christmas shopping list

LONDON: Supermarkets in the UK and Europe are offering more own-brand festive food from roast duck to truffle...

Published 18 Dec, 2023 11:30am

World

Cyclone brings floods, crocodile sightings in Australia’s northeast

SYDNEY: Floods caused by heavy rain in the wake of former Tropical Cyclone Jasper cut off several towns popular with...

Published 18 Dec, 2023 11:36am

Exchange

Pakistan’s REER index dips in November, now stands at 98.2

Nominal Effective Exchange Rate Index (NEER) decreased by 3% MoM in November 2023 to a provisional value of 37.99 from 39.18 in October 2023

Published 18 Dec, 2023 11:29am

Energy

China’s November diesel exports down 44.9% on last year despite weak domestic demand

BEIJING: China’s diesel exports in November were down 44.9% on last year at 1.16 million metric tons, data showed on...

Published 18 Dec, 2023 11:25am

Technology

Tencent turns to ByteDance in gaming showdown with NetEase

HONG KONG: Tencent Holdings is relying on one-time bitter rival ByteDance to promote its most important video game...

Published 18 Dec, 2023 11:22am

Forex

Asian currencies subdued, stocks mixed as Fed pivot rally fades

Most emerging Asian currencies were subdued on Monday as the Federal Reserve-fuelled risk rally faded after...

Published 18 Dec, 2023 11:19am

Asia

China FM hails ‘firm support’ in meeting with North Korean diplomat

BEIJING: Chinese Foreign Minister Wang Yi and a North Korean official expressed firm support and trust in their...

Updated 18 Dec, 2023 11:16am

Sports

Kane says Stuttgart win Bayern’s ‘best game of year’

MUNICH: Harry Kane said Bayern Munich’s 3-0 win over fourth-placed Stuttgart was the team’s “best game of the year...

Published 18 Dec, 2023 11:13am

Sports

Madrid defender Alaba suffers cruciate ligament injury

MADRID: Real Madrid defender David Alaba will be sidelined for months after suffering a severe knee injury in his...

Published 18 Dec, 2023 11:11am

Stocks

Hong Kong stocks drop at open

HONG KONG: Hong Kong stocks opened with losses Monday morning after a strong end to last week fuelled by the...

Published 18 Dec, 2023 11:07am

Technology

Jeff Bezos’s Blue Origin headed back into space after accident

WASHINGTON: The American company Blue Origin plans to launch its rocket Big Shepard Monday for the first time since...

Published 18 Dec, 2023 11:06am

Asia

15 suspected drug smugglers killed in Thai army shootout

BANGKOK: Thai soldiers killed 15 suspected drug smugglers in a shootout in a remote northern district near the...

Published 18 Dec, 2023 11:00am

Middle East

Israeli aggression continues up and down Gaza strip; hospital hit

GAZA/OCCUPIED JERUSALEM: Israeli forces continued their aggression, and launched deadly attacks up and down the Gaza...

Updated 18 Dec, 2023 10:54am

Sports

Cummins leads stars up for grabs in big-money IPL auction

NEW DELHI: Some of the world’s top cricketers will go under the hammer in Dubai on Tuesday in the next auction for...

Published 18 Dec, 2023 10:53am

Asia

North Korea fires what appears to be a long-range ballistic missile

SEOUL/TOKYO: North Korea fired what appeared to be a long-range ballistic missile on Monday, South Korea’s military...

Published 18 Dec, 2023 10:44am

Commodities

Soybeans ease on Brazilian weather, strong demand curbs losses

SINGAPORE: Chicago soybean futures lost ground on Monday, with the market declining for the first time in three...

Published 18 Dec, 2023 10:40am

Sports

Australia’s Labuschagne relieved after being cleared for second Test

MELBOURNE: With Cameron Green eager to break back into Australia’s starting XI, Marnus Labuschagne felt a rush of...

Published 18 Dec, 2023 10:38am

Commodities

Asian fertiliser buyers turn away from key exporter China amid growing curbs

BEIJING/MUMBAI: Asian fertiliser buyers are seeking alternatives to Chinese supplies on concerns the world’s top...

Published 18 Dec, 2023 10:32am

Forex

China’s yuan eases as weak economic fundamentals drag on sentiment

SHANGHAI: China’s yuan eased against the dollar on Monday as weak economic fundamentals dragged on sentiment,...

Published 18 Dec, 2023 10:28am

Stocks

China stocks fall as sluggish recovery dampens sentiment

SHANGHAI: China stocks extended their drop on Monday, following five weekly losses, as risk sentiment remained weak...

Published 18 Dec, 2023 10:26am

Business & Finance

ECB governors see no dovish pivot before March, cut before June

FRANKFURT: European Central Bank policymakers do not expect to change their message on the need for high interest...

Published 18 Dec, 2023 10:20am

Commodities

Copper holds steady as macro uncertainty weighs against supply disruption

BEIJING: Copper prices were flat on Monday after clocking a weekly gain in the last session supported by supply...

Published 18 Dec, 2023 10:18am

Mutual Funds

JGB yields creep down as investors eye BOJ policy decision

TOKYO: Japanese government bond (JGB) yields inched down on Monday as investors awaited the Bank of Japan’s (BOJ)...

Published 18 Dec, 2023 10:16am

Middle East

World leaders arrive in Kuwait to pay respects after emir’s death

KUWAIT: Foreign dignitaries arrived in the Gulf state of Kuwait to offer condolences for the death of emir Sheikh...

Published 18 Dec, 2023 10:12am

Stocks

Asia shares slip into BOJ meeting, US inflation test

SYDNEY: Asia stocks slipped on Monday in a subdued start to a week where Japan’s central bank might edge further...

Published 18 Dec, 2023 09:55am

Mutual Funds

India bond yields may dip as sentiment remains positive

MUMBAI: Indian government bond yields are likely to dip marginally at the start of the penultimate week of 2023, as...

Published 18 Dec, 2023 09:47am

Forex

Indian rupee rally confronted by pushback from Fed officials on rate cuts

MUMBAI: The Indian rupee on Monday will likely face challenges amid weakness in Asian peers after top Federal...

Published 18 Dec, 2023 09:45am

Stocks

Indian shares open lower after record rally

BENGALURU: India’s Nifty 50 and Sensex opened lower on Monday after rallying to record highs for most of this month,...

Published 18 Dec, 2023 09:42am

Bullion Rate

Gold gains on weaker yields; US inflation report in focus

Gold edged higher on Monday, supported by a weakness in bond yields as investors await US inflation data due later...

Published 18 Dec, 2023 09:41am

IPP leader pledges 300 units of power free if voted to power

ISLAMABAD: Istehkam-e-Pakistan Party (IPP) President Abdul Aleem Khan announced that following a victorious election...

Updated 18 Dec, 2023 09:41am

Stocks

Australian shares slip after six-session rally; Link Administration soars

Australian shares slipped on Monday after the New York Federal Reserve president pushed back against rate-cut hopes,...

Published 18 Dec, 2023 09:39am

Stocks

Japan’s Nikkei falls as investors await BOJ cue on policy shift

TOKYO: Japan’s Nikkei share average slipped more than 1% on Monday as cautious investors awaited hints from the Bank...

Published 18 Dec, 2023 09:36am

Forex

Yen cedes some ground ahead of critical BOJ test

SINGAPORE: The yen dipped slightly on Monday as the Bank of Japan (BOJ) kicked off its two-day monetary policy...

Published 18 Dec, 2023 09:32am

MoST all set to disband PCRET

ISLAMABAD: The Ministry of Science and Technology (MoST) has prepared a plan to abolish Pakistan Council of...

Updated 18 Dec, 2023 09:32am

Overseas Pakistanis: Depreciation on used cell phones doubled

ISLAMABAD: The depreciation on the used/ refurbished mobile phones brought into Pakistan by the overseas Pakistanis...

Updated 18 Dec, 2023 09:20am

Case of getting inadmissible tax refunds: ATIR turns down rectification plea filed by Chinese firm

ISLAMABAD: The Full Bench of the Appellate Tribunal Inland Revenue (ATIR) has imposed costs and dismissed...

Updated 18 Dec, 2023 09:14am

Feasibilities/bankable projects: SIFC to hire top-level consultancy services

ISLAMABAD: The Implementation Committee (IC) of Special Investment Facilitation Council (SIFC) has decided to hire...

Updated 18 Dec, 2023 08:36am

Life & Style

Zee asks Sony’s Indian arm for extension of merger deadline

MUMBAI: India’s Zee Entertainment Enterprises said in a stock exchange filing on Sunday that it had sought a further...

Updated 18 Dec, 2023 08:36am

Russia eyes additional oil export cuts of about 50,000bpd in Dec

MOSCOW: Russia said on Sunday it would deepen oil export cuts in December by potentially 50,000 barrels per day or...

Updated 18 Dec, 2023 08:35am

French top diplomat calls for ‘immediate and durable’ truce

TEL AVIV: French Foreign Minister Catherine Colonna on Sunday pressed for an “immediate and durable” truce in the...

Updated 18 Dec, 2023 08:35am

Israel strikes Gaza as pressure grows for ceasefire

GAZA STRIP, (Palestinian Territories): Israel kept up deadly strikes on the besieged Gaza Strip on Sunday despite...

Updated 18 Dec, 2023 08:35am

BR’s refresher: your morning briefing for the day

Important updates from December 16 and December 17, 2023

Published 18 Dec, 2023 08:28am

BR Research

Cement prices: Damned if you don’t

Despite an inactive market, and uncertain demand dynamics within the construction industry, cement off-take took off...

Published 18 Dec, 2023 07:18am

Pakistan

Sindh barrages project faces $72m financial gap

ISLAMABAD: The “Sindh Barrages Improvement Project” of worth $326.6 million is facing financing gap of about $72...

Updated 18 Dec, 2023 07:16am

BR Research

Interview with Hazem Mulhim, CEO-Eastnets

‘Pakistan is an emerging and important market for the financial sector’ Hazem Mulhim is the founder and CEO at...

Published 18 Dec, 2023 07:15am

Opinion

Fertilizer: a subsidy for dealers?

For a very long time, the government has been supplying gas at a subsidized rate to fertilizer companies (mainly to...

Updated 18 Dec, 2023 07:03am

Opinion

Charter of economy: a non-starter

The concept of all political parties signing off on a charter of the economy has been consistently raised by the...

Updated 18 Dec, 2023 07:03am

Editorials

Fitch maintains rating

EDITORIAL: Fitch has maintained Pakistan’s rating at CCC positive — a rating that has been stable since 10 July...