News Archives for Latest - 2023-12-21

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Archive - 2023-12-21

Europe

Unions announce end of Channel tunnel strike

COQUELLES: French unions on Thursday announced the end of a wildcat strike that paralysed train travel through the...

Published 21 Dec, 2023 11:58pm

World

Entire Gaza faces 'crisis or worse' hunger level: UN

ROME: Every single person in war-torn Gaza is expected to face high levels of acute food insecurity in the next six...

Published 21 Dec, 2023 11:03pm

Pakistan

PHC tells ECP to decide on PTI’s intra-party polls, electoral symbol by Friday

The Peshawar High Court (PHC) on Thursday ordered the Election Commission of Pakistan (ECP) to decide the case of...

Updated 21 Dec, 2023 10:41pm

Pakistan

PTI moves Supreme Court over level playing field

Petition requests the court to order the govt to refrain from harassing PTI’s workers

Published 21 Dec, 2023 10:34pm

Pakistan

IHC rejects Imran Khan's appeal to suspend Toshakhana verdict

Court rules sentences can be suspended but verdicts cannot

Updated 21 Dec, 2023 10:39pm

Forex

Pakistan’s central bank reserves fall below $7bn after over 5 months

State Bank of Pakistan attributes decline in reserves to debt repayments

Updated 21 Dec, 2023 10:27pm

Stocks

KSE-100 ends higher on late-session buying

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index closed a volatile session on a positive note as...

Updated 21 Dec, 2023 10:26pm

Pakistan

Detained women, children of Baloch protesters of Islamabad released

Minister of Privatisation says the premier has constituted a committee to resolve the issue through dialogue

Updated 21 Dec, 2023 10:22pm

Middle East

No functional hospitals left in northern Gaza: WHO

GENEVA: There are no longer any functional hospitals in the north of the Gaza Strip, the World Health Organization...

Updated 21 Dec, 2023 10:20pm

Technology

Pakistan startup Sehat Kahani announces $2.7mn Series A round

Sehat Kahani, a Pakistani health-tech startup, announced on Thursday that it has closed a $2.7-million Series A...

Updated 21 Dec, 2023 10:18pm

Business & Economy

Enhancing exports ‘only way for sustainable growth’: Dr Shamshad

Speaking at launch of Export-Import Bank of Pakistan, caretaker minister says country needs to move away from excessive dependence on textile sector

Updated 21 Dec, 2023 09:41pm

Europe

Several killed in Prague university shooting, shooter ‘eliminated’, police say

PRAGUE: A shooter at a Prague university killed several people and injured dozens of others on Thursday before being...

Published 21 Dec, 2023 09:13pm

Pakistan

General Election 2024: PML-N seeks two-day extension in deadline for filing nomination papers

PML-N seeks delay to facilitate candidates

Published 21 Dec, 2023 08:37pm

Stocks

Most Gulf markets in red as Wall Street rally stalls; Qatar gains

Most stock markets in the Gulf ended lower on Thursday after Wall Street snapped a long winning streak that had been...

Published 21 Dec, 2023 08:02pm

Stocks

Wall St eyes higher open after broad sell-off; Micron shines

U.S. stocks were set for a higher open on Thursday, recovering from a broad sell-off on Wall Street in the prior...

Published 21 Dec, 2023 07:59pm

Forex

Open-market: rupee edges higher against US dollar

The Pakistani rupee saw marginal improvement against the US dollar in the open market on Thursday, while the local...

Updated 21 Dec, 2023 07:55pm

Forex

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

Currency appreciates 0.04%, settles at 282.79 against greenback

Updated 21 Dec, 2023 07:54pm

Europe

Shelling kills two in Ukraine after drone barrage

KYIV: Two women were killed by Russian artillery in the southern Ukrainian city of Nikopol on Wednesday, local...

Published 21 Dec, 2023 07:14pm

Cricket

Australia’s Usman Khawaja reprimanded by ICC for wearing black armband

Australia’s Usman Khawaja was reprimanded by the International Cricket Council (ICC) on Thursday for sporting a...

Published 21 Dec, 2023 06:35pm

Sports

Man Utd, Bayern commit to UEFA competitions after Super League verdict

Manchester United said they remain committed to playing in competitions run by UEFA despite Thursday’s EU court...

Published 21 Dec, 2023 06:38pm

Money & Banking

Bank Makramah Limited appoints new board chair

The Board of Directors (BoD) of Bank Makramah Limited (BML), formerly known as Summit Bank Limited, has appointed...

Updated 21 Dec, 2023 06:31pm

Energy

Angola says it is leaving OPEC

LUANDA/LONDON: Angola is leaving the Organization of the Petroleum Exporting Countries (OPEC) because membership is...

Published 21 Dec, 2023 06:29pm

Luxury

Rolex fined $100mn for crackdown on French online watch sales

Luxury watchmaker Rolex was fined about $100 million by France’s antitrust agency for an illegal decade-long...

Published 21 Dec, 2023 06:20pm

Energy

Attock Refinery resumes ‘normal operations’ as stock upliftment improves

Attock Refinery Limited (ATRL), a subsidiary of Attock Oil Company Limited, said it has resumed “normal operations”...

Updated 21 Dec, 2023 06:14pm

Middle East

Gaza war to throw Lebanon back into recession: World Bank

BEIRUT: The impacts of the Israel-Hamas war are set to push crisis-hit Lebanon’s economy back into recession, the...

Published 21 Dec, 2023 05:39pm

Commodities

Asia rice: India plays catch-up as Vietnam rates rally to highest since 2008

Prices of parboiled rice from top exporters climbed this week, fuelled by limited supplies, pushing Vietnamese rates...

Published 21 Dec, 2023 05:10pm

Sports

UEFA, FIFA breached EU law on Super League, top court rules

BRUSSELS: UEFA and FIFA contravened EU law by preventing the formation of a Super League, the European Court of...

Published 21 Dec, 2023 05:04pm

Money & Banking

Turkiye hikes rates by 250 pts to 42.5% with end in sight

ISTANBUL: Turkiye’s central bank lifted its key interest rate by 250 basis points to 42.5% on Thursday as expected,...

Published 21 Dec, 2023 05:01pm

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 21 Dec, 2023 05:01pm

Africa

World Bank approves new Tanzania loans worth $1.14bn

NAIROBI: The World Bank has approved two separate loans worth about $1.14 billion combined to Tanzania to support...

Published 21 Dec, 2023 04:55pm

Stocks

Energy stocks aid rebound in Indian shares after lacklustre start

BENGALURU: India’s stock benchmarks bounced back from early losses, aided by a recovery in energy and financials,...

Published 21 Dec, 2023 04:46pm

Luxury

Dubai property prices hit all-time high, crossing September 2014 peak

The Dubai property market reached new highs in November, crossing a previous record set in September 2014, according...

Published 21 Dec, 2023 04:44pm

Stocks

Sri Lanka shares gain on consumer staples, industrials; Nov inflation rises

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

Published 21 Dec, 2023 04:43pm

Commodities

Copper retreats as bullish investors pause ahead of holidays

LONDON: Copper prices pulled back on Thursday as investors shed some of their bullish positions after the market...

Published 21 Dec, 2023 04:41pm

Commodities

Palm settles lower after five straight sessions of gains

NEW DELHI: Malaysian palm oil futures settled lower on Thursday because investors booked profits after five straight...

Published 21 Dec, 2023 04:38pm

Middle East

Israel orders more Gaza evacuations as envoys seek truce

GAZA STRIP: Israel has ordered more evacuations in southern Gaza’s main city as diplomats pressed on with efforts to...

Updated 21 Dec, 2023 04:03pm

Movies & Music

Warner Bros Discovery, Paramount Global met to discuss potential deal: source

Warner Bros Discovery CEO David Zaslav met with Paramount Global CEO Bob Bakish to discuss a potential deal between...

Updated 21 Dec, 2023 03:15pm

Stocks

London stocks slip as global rally takes breather

British equities slipped on Thursday as a recent global rally supported by hopes of interest rate cuts from major...

Published 21 Dec, 2023 02:52pm

Movies & Music

‘Ferrari’ hopes to drive non-car lovers into theaters

LOS ANGELES: The cast of director Michael Mann’s ‘Ferrari’ is keen to point out to audiences that the film is not...

Published 21 Dec, 2023 02:51pm

Forex

Russian rouble tumbles to two-week low past 92 vs dollar

MOSCOW: The Russian rouble fell sharply past 92 to the dollar on Thursday to trade at its weakest in two weeks,...

Published 21 Dec, 2023 02:49pm

Stocks

European equities decline at open

LONDON: Europe’s main stock markets opened lower on Thursday, with London hitting reverse one day after jumping on...

Published 21 Dec, 2023 01:47pm

Technology

Sony PlayStation 5 sales cross 50 million units

TOKYO: Sales of Sony’s PlayStation 5 have crossed 50 million units, the Japanese electronics giant said, pointing to...

Published 21 Dec, 2023 01:45pm

Energy

Oil falls over demand concerns after US inventory build

TOKYO: Oil prices fell on Thursday as concerns over low demand following a surprise US crude inventory build...

Updated 21 Dec, 2023 01:04pm

Sports

England’s Stokes, Archer still in the mix for T20 World Cup: Mott

England coach Matthew Mott said test captain Ben Stokes and fast bowler Jofra Archer will be given every chance to...

Published 21 Dec, 2023 12:57pm

Technology

Social media platform X back up after global outage

Social media platform X, formerly known as Twitter, was restored globally early Thursday, with over 77,000 US users...

Updated 21 Dec, 2023 12:54pm

Europe

Ukraine shoots down 34 out of 35 Russian drones

KYIV: Ukraine’s air defence shot down 34 out of 35 Russian drones launched in a major overnight attack on 12...

Published 21 Dec, 2023 12:43pm

Asia

A dozen still missing after China’s earthquake, 137 dead

DAHEJIA: A dozen people were still missing on Thursday after a 6.2-magnitude earthquake struck northwestern Gansu...

Published 21 Dec, 2023 12:41pm

Europe

Ukrainian town faces tough winter, a year after driving out Russian forces

LYMAN: The few remaining residents in the devastated eastern Ukrainian town of Lyman are preparing for a difficult...

Published 21 Dec, 2023 12:24pm

Forex

Aussie hits 6-month top on sterling, bonds join global rally

SYDNEY: The Australian dollar held near a six-month high on the sterling on Thursday, while bond futures jumped to...

Published 21 Dec, 2023 11:58am

Commodities

Iron ore gains on low inventories, year-end Chinese demand

SINGAPORE: Dalian iron ore futures rose for a third consecutive session on Thursday, helped by tight inventories and...

Published 21 Dec, 2023 11:52am

Commodities

Soybeans fall for third session on Brazilian weather, wheat firms

SINGAPORE: Chicago soybean futures slid for a third consecutive session on Thursday, as rains in parts of Brazil’s...

Published 21 Dec, 2023 11:48am

Middle East

World waits on US as Security Council Gaza resolution stalled

UNITED NATIONS: The UN Security Council on Thursday will try once again to pass a resolution calling for a halt in...

Updated 21 Dec, 2023 11:48am

Commodities

Malaysian palm oil prices drop in early trade on weak demand

NEW DELHI: Malaysian palm oil futures fell in early trade on Thursday due to lower overseas demand for the tropical...

Published 21 Dec, 2023 11:46am

Forex

Chinese currency weakens as offshore yuan borrowing costs drop

SHANGHAI: The yuan eased on Thursday, as offshore yuan funding costs fell and China’s blue-chip stock index hovered...

Published 21 Dec, 2023 11:45am

Stocks

China stocks drop as stimulus optimism fades; Hong Kong edged higher

HONG KONG: China’s blue-chip stocks hit a near five-year low on Wednesday, as investors are gradually losing hopes...

Published 21 Dec, 2023 11:42am

Asia

China coal mine accident kills 12

BEIJING: An accident at a coal mine in China’s northeastern province of Heilongjiang has killed 12, state...

Published 21 Dec, 2023 11:38am

Europe

Russia splashes $12bn to keep aviation sector in the air

Russia has handed out more than $12 billion in state subsidies and loans to keep its aviation sector afloat since...

Published 21 Dec, 2023 11:29am

Asia

China’s cold snap reaches Shanghai with chilliest year-end in 40 years

SHANGHAI: China’s financial hub Shanghai was set to record its chilliest period in December in four decades,...

Published 21 Dec, 2023 11:24am

Sports

Mbappe scores birthday brace as PSG end year on top of Ligue 1

PARIS: Kylian Mbappe marked his 25th birthday with a brace as Paris Saint-Germain beat Metz 3-1 in Ligue 1 on...

Published 21 Dec, 2023 11:07am

Stocks

Hong Kong stocks drop at open

HONG KONG: Hong Kong stocks were down Thursday morning after big losses on Wall Street driven by profit-taking after...

Published 21 Dec, 2023 11:04am

South Asia

‘Dying every two hours’: Afghan women risk life to give birth

KHOST: Zubaida travelled from the rural outskirts of Khost in eastern Afghanistan to give birth at a maternity...

Published 21 Dec, 2023 11:01am

Sports

Klopp unhappy with Anfield atmosphere ahead of Arsenal’s visit

Liverpool manager Juergen Klopp said he was unhappy with the home support during their 5-1 League Cup win over West...

Published 21 Dec, 2023 10:44am

Sports

Pakistan pacer Khurram Shahzad ruled out of Australia Test series

MELBOURNE: Khurram Shahzad’s encouraging start to Test cricket has been nipped in the bud after the Pakistan pacer...

Published 21 Dec, 2023 10:43am

Pakistan

Punjab govt to distribute 10,000 e-bikes among students

LAHORE: In a move to address environmental concerns in the provincial metropolis, the Punjab government has unveiled...

Updated 21 Dec, 2023 10:39am

Sports

West Indies name seven uncapped players for Australia Tests

MELBOURNE: West Indies will blood at least four debutants in the first Test against Australia next month after...

Published 21 Dec, 2023 10:37am

Business & Finance

Some Wells Fargo employees vote in favor of unionization; others reject

Wells Fargo employees at its Albuquerque, New Mexico branch voted to join a union on Wednesday, while some of the...

Published 21 Dec, 2023 10:32am

Technology

Toyota shares slide on safety scandal at Daihatsu, recall of vehicles

TOKYO: Toyota Motor shares slumped on Thursday as Japan’s transport ministry inspected a subsidiary over safety...

Published 21 Dec, 2023 10:28am

Technology

Samsung to set up chip packaging research facility in Japan

TOKYO/SEOUL: South Korea’s Samsung Electronics will invest around 40 billion yen ($280 million) over five years in a...

Published 21 Dec, 2023 10:25am

Business & Finance

South Korea seeks fines on HSBC, BNP for naked short selling

South Korea’s financial watchdog has recommended imposing a fine of at least 10 billion won ($7.67 million) each on...

Published 21 Dec, 2023 10:22am

Business & Finance

US airlines ready for busier holiday travel after 2022 meltdown

US airlines say they are prepared for busier end of year holiday travel compared with the same peak period a year...

Published 21 Dec, 2023 10:18am

Sports

Kipchoge returning for Tokyo Marathon, Hassan to debut

Kenyan double Olympic champion Eliud Kipchoge will take part in the Tokyo Marathon in March, his NN Running Team...

Published 21 Dec, 2023 10:14am

Middle East

Gaza children dizzy from hunger as war impedes food deliveries

RAFAH: The children displaced to south Gaza were craving chicken, but all their mother had left to feed the family...

Published 21 Dec, 2023 10:09am

Companies

After expanding to Bangladesh and UAE, Pakistani startup Abhi has plans for ‘further growth’

Founder Omair Ansari praises Dubai International Financial Centre, and Abu Dhabi Global Market for support along the way

Updated 21 Dec, 2023 10:03am

Increase in power sector subsidy: Hamstrung by grim lack of fiscal space, FD says ‘no’

The government has already budgeted Rs 970 billion as power sector subsidy in 2023-24

Updated 21 Dec, 2023 09:58am

Asia

North Korea’s Kim warns of ‘nuclear attack’ if provoked with nukes

SEOUL: North Korean leader Kim Jong Un said Pyongyang would not hesitate to launch a nuclear attack if an enemy...

Published 21 Dec, 2023 09:55am

Increase in power rates allowed countrywide

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has allowed federal government on Wednesday to...

Updated 21 Dec, 2023 09:54am

Trade boost: 5-year vision shared with China

ISLAMABAD: Caretaker Federal Minister for Commerce and Industries Minister, Dr Gohar Ejaz, on Wednesday, shared an...

Updated 21 Dec, 2023 09:53am

Energy mix ‘Govt plans to enhance share of hydel, RE to 61pc by 2030’

ISLAMABAD: Caretaker Minister for Power Muhammad Ali on Wednesday said the government is working on a plan to...

Updated 21 Dec, 2023 09:53am

New ‘CPEC Media Forum Balochistan Initiative’ launched: China’s Jiang reaffirms support to economic recovery efforts

ISLAMABAD: Chinese Ambassador to Pakistan Jiang Zaidong on Wednesday reaffirmed China’s commitment to supporting...

Updated 21 Dec, 2023 09:52am

Bullion Rate

Gold prices gain on softer dollar, Treasury yields

Gold prices edged higher on Thursday, helped by a softer dollar and lower Treasury yields as traders looked forward...

Published 21 Dec, 2023 09:51am

Mutual Funds

India bond yields may dip tracking US peers, move seen capped

MUMBAI: Indian government bond yields are expected to trend marginally lower in opening trades on Thursday, tracking...

Published 21 Dec, 2023 09:48am

Forex

Indian rupee supported by drop in US yields, pegged back by risk aversion

MUMBAI: The Indian rupee is expected to have a quiet opening on Thursday, following a selloff in US equities and a...

Published 21 Dec, 2023 09:45am

Stocks

Asia stocks fall as Wall Street rally stalls

HONG KONG: Asian shares fell on Thursday after Wall Street snapped a long winning streak, while Treasury yields were...

Published 21 Dec, 2023 09:43am

Stocks

Australian shares fall as commodity stocks drag, US inflation data in focus

Australian shares retreated on Thursday, dragged down by losses in commodity-related stocks, as investors looked...

Published 21 Dec, 2023 09:39am

Stocks

Japan’s Nikkei sinks in sympathy with Wall Street; Toyota tumbles

TOKYO: Japan’s Nikkei share average dropped on Thursday following a sharp sell-off on Wall Street overnight,...

Published 21 Dec, 2023 09:37am

Stocks

India’s Nifty set for muted open after steep drop

BENGALURU: India’s Nifty 50 is set to open little changed on Thursday after profit booking on Wednesday led to its...

Published 21 Dec, 2023 09:34am

Forex

Dollar steadies as stocks slip

SINGAPORE: The dollar found a footing on Thursday as a sudden end to a strong rally for US stocks had investors...

Published 21 Dec, 2023 09:31am

Govt raises historic Rs397bn in bond auction

KARACHI: The government raised a historic Rs397 billion ($1.4 billion) in Wednesday’s local currency bond auction....

Updated 21 Dec, 2023 08:38am

Eyeing Rs110bn funding: Govt gearing up to unveil another sukuk auction calendar

KARACHI: In a bid to strengthen its financial standing, the government of Pakistan is gearing up to unveil yet...

Updated 21 Dec, 2023 08:37am

Alleged maladministration by FBR officials: FTO authorised to initiate ‘suo motu investigation’: President

ISLAMABAD: President Arif Alvi has declared that the Federal Tax Ombudsman (FTO) is fully authorised to initiate...

Updated 21 Dec, 2023 08:36am

Payment of KE arrears: ECC approves Rs57bn advanced subsidy

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet approved Rs57 billion advanced subsidy for...

Updated 21 Dec, 2023 08:36am

Pakistan

Pakistan eschews ‘bloc politics’, COAS tells US think tanks

ISLAMABAD: Chief of Army Staff (COAS) General Asim Munir hoped to develop Pakistan as a hub of connectivity and a...

Updated 21 Dec, 2023 08:35am

Application of additional cost to KE consumers: Nepra reserves verdict on PD’s motion

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) held a hearing on Wednesday on a motion filed by...

Updated 21 Dec, 2023 08:35am

BR’s refresher: your morning briefing for the day

Important updates from December 20, 2023

Published 21 Dec, 2023 08:34am

BR Research

FDI in 5MFY24

Decoding foreign direct investment has been a challenge for the country not only recently, but over the last decade....

Published 21 Dec, 2023 08:00am

BR Research

Cnergyico Pakistan Limited

Cnergyico Pakistan Limited (PSX: CNERGY) was incorporated in Pakistan as a public limited company in 1995. The...

Published 21 Dec, 2023 07:57am

Opinion

Pakistan’s Aramco deal

Pakistan’s economy is on an upward trajectory, capturing the attention of the global community. This positive...