News Archives for Latest - 2024-01-25

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Archive - 2024-01-25

Bullion Rate

Gold price per tola decreases Rs1,400 in Pakistan

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

Updated 25 Jan, 2024 10:42pm

Forex

SBP reserves increase $243mn to reach over 6-month high of $8.27bn

Dollar stockpile rises over inflow from International Monetary Fund as second tranche of Stand-By Arrangement

Updated 25 Jan, 2024 10:41pm

World

US CIA chief to help broker Gaza hostage deal: source

WASHINGTON: U.S. Central Intelligence Agency Director William Burns plans to meet with Israeli, Egyptian and Qatari...

Published 25 Jan, 2024 10:38pm

Exchange

Rupee unchanged against US dollar

The rupee remained unchanged against the US dollar in the inter-bank market on Thursday. As per the State Bank of...

Updated 25 Jan, 2024 10:30pm

Europe

UK and US impose sanctions on key Houthi figures

LONDON: Britain and the United States on Thursday said they had imposed sanctions on key Houthi figures to protect...

Published 25 Jan, 2024 10:27pm

Stocks

KSE-100 down 0.81% as profit-taking, rumours dominate session

Benchmark index settles with a loss of over 500 points

Updated 25 Jan, 2024 10:27pm

Middle East

Israeli aggression on Gaza’s Khan Yunis after deadly shelling hits UN shelter

GAZA STRIP: Israeli aggression that included air strikes and ground operations were focused Thursday on the Gazan...

Updated 25 Jan, 2024 10:24pm

Stocks

TGL, LCI’s float glass project faces delays, but partners ‘committed to its completion’

Tariq Glass Industries Limited (TGL), a glass tableware manufacturer in Pakistan, said its float glass manufacturing...

Updated 25 Jan, 2024 10:15pm

World

Health ministry in Gaza says Israel kills 20 waiting for aid

GAZA STRIP: The health ministry in Hamas-run Gaza said Israeli forces had on Thursday killed 20 people waiting for...

Published 25 Jan, 2024 10:13pm

Pakistan

Foreign secretary accuses India of committing 'extra-judicial killings' in Pakistan

Muhammad Syrus Sajjad Qazi says India is operating a sophisticated international set-up that spans multiple countries

Updated 25 Jan, 2024 10:06pm

Stocks

LCI’s profit-after-tax jumps 88% in Oct-Dec

Lucky Core Industries Limited (LCI) saw its profit-after-tax (PAT) jump by around 88% to Rs2.502 billion in the...

Updated 25 Jan, 2024 10:01pm

Arts

Atif Aslam, Ellie Goulding, AP Dhillon among upcoming performances in Dubai

As winter and its accompanying festivities continue in Dubai, a slew of festivals and events are set to take place...

Updated 25 Jan, 2024 09:16pm

Stocks

Wall St rises after strong GDP data; Tesla drops to 8-month low

Wall Street’s main indexes gained on Thursday after data showing strong economic performance in the fourth quarter...

Published 25 Jan, 2024 08:56pm

Energy

Oil perks up nearly 2% on US crude stock draw, Red Sea tensions

LONDON: Oil prices rose on Thursday after data showed U.S. crude stockpiles fell more than expected last week and a...

Updated 25 Jan, 2024 08:53pm

Technology

Microsoft lays off 1,900 Activision Blizzard, Xbox staff

Microsoft is letting go of 1,900 employees at Activision Blizzard and Xbox this week, news website The Verge...

Published 25 Jan, 2024 08:49pm

Middle East

UN says Israel army orders Gazans to leave shelter hit by tank fire

GAZA STRIP: The United Nations told AFP on Thursday that the Israeli military ordered people taking refuge in their...

Published 25 Jan, 2024 08:41pm

Solar PV projects under G2G mode: PM allows PD to seek approval of summary from Cabinet

ISLAMABAD: Caretaker Prime Minister Anwar-ul-Haq Kakar has allowed Power Division to seek approval of a summary on...

Updated 25 Jan, 2024 08:13pm

Middle East

Yemen’s Houthis leader: targeting of Israel-linked ships will continue until aid reaches Gaza

DUBAI: The targeting of ships linked to Israel will continue until aid reaches the Palestinian people in Gaza,...

Published 25 Jan, 2024 07:25pm

Money & Banking

Lloyds to cut around 1,600 branch jobs in digital switch

LONDON: Britain’s biggest domestic bank Lloyds is cutting around 1,600 roles across its branch network, a...

Published 25 Jan, 2024 07:15pm

Stocks

Major Gulf markets slip on geopolitical tensions

Major stock markets in the Gulf ended lower on Thursday amid rising geopolitical tensions in the region, while...

Published 25 Jan, 2024 07:10pm

Sports

China’s ‘Queen Wen’ sets up Australian Open final against Sabalenka

MELBOURNE: Zheng Qinwen coasted past Ukrainian qualifier Dayana Yastremska on Thursday to become the first Chinese...

Published 25 Jan, 2024 06:09pm

Companies

India’s Zee quits $1.4bn cricket rights deal with Disney

NEW DELHI: India’s Zee Entertainment has told Walt Disney it does not intend to move forward with a deal to pay...

Published 25 Jan, 2024 06:02pm

Money & Banking

Turkiye hikes rates to 45%, says done tightening policy

ISTANBUL: Turkiye’s central bank completed its aggressive tightening cycle with a 250 basis-point interest rate hike...

Published 25 Jan, 2024 05:54pm

Commodities

Asia rice: India rates spring to record highs on dwindling supplies, firm demand

Rates of parboiled rice exported from top hub India advanced to record highs this week on limited supplies and...

Published 25 Jan, 2024 05:51pm

Europe

Erdogan, eyeing more trade with Iran, says Turkiye weighing opening new border crossings

ANKARA: Turkiye is considering opening new border crossings with eastern neighbour Iran, President Tayyip Erdogan...

Published 25 Jan, 2024 05:46pm

Forex

Nigeria’s naira falls to new low in official trade, close to parallel rate

ABUJA: Nigeria’s naira fell to a record low against the U.S. dollar on the official market on Thursday, converging...

Published 25 Jan, 2024 05:31pm

Stocks

Indian shares log worst week since late Oct as financials extend losses

BENGALURU: Indian shares declined on Thursday, dragged by information technology stocks (IT) following disappointing...

Published 25 Jan, 2024 05:14pm

Stocks

UK stocks under pressure as earnings disappoint

The UK equity market came under selling pressure on Thursday, with shares in IG Group and Wizz Air tumbling after...

Published 25 Jan, 2024 02:48pm

Asia

Japan PM Kishida pledges all-out support for quake victims

TOKYO: Japanese Prime Minister Fumio Kishida on Thursday pledged all-out support for those affected by a major...

Published 25 Jan, 2024 02:40pm

Sports

UEFA Chief of Football quits over row with Ceferin

UEFA’s Chief of Football Zvonimir Boban has said he was leaving European soccer’s governing body in protest against...

Published 25 Jan, 2024 02:38pm

Sports

England 246 all out in opening Test against India

HYDERABAD: England were all out for 246 in their first innings on day one of the opening Test against India at Rajiv...

Updated 25 Jan, 2024 02:36pm

South Asia

France’s Macron arrives in India for two-day visit: AFP

JAIPUR: President Emmanuel Macron landed in India Thursday at the start of a two-day visit, an AFP photographer...

Published 25 Jan, 2024 02:33pm

Sports

Hodge, Da Silva lead West Indies fightback in 2nd Test

BRISBANE: Kavem Hodge and Joshua Da Silva led a West Indies fightback in the middle session of the second Test to...

Updated 25 Jan, 2024 02:27pm

Stocks

European stocks drop at open, before ECB rates update

LONDON: European stock markets dropped at the start of trading Thursday as investors awaited an update on the...

Published 25 Jan, 2024 01:37pm

Pakistan

Check your vote: here is how you can find out your constituency

Now that the general elections are just around the corner, one of the most important questions will be “which...

Updated 25 Jan, 2024 01:23pm

Luxury

Viktor & Rolf take a snip at Haute Couture with Paris runway collection

PARIS: For their spring summer couture show, Viktor Horsting and Rolf Snoeren, the Dutch design duo behind the label...

Published 25 Jan, 2024 01:10pm

Europe

Kremlin says unclear how downing of plane carrying Ukrainian PoWs will affect future such swaps

MOSCOW: The Kremlin said on Thursday that nobody could say at this stage how what it says was the Ukrainian shooting...

Published 25 Jan, 2024 12:59pm

Movies & Music

Jon Stewart is returning to ‘The Daily Show’ during US election cycle

NEW YORK: Political comedian Jon Stewart is returning to ‘The Daily Show’ as executive producer and will host every...

Published 25 Jan, 2024 12:59pm

Forex

South African rand steady ahead of PPI and rate decision

JOHANNESBURG: The South African rand was steady in early trade on Thursday, with investors awaiting release of...

Published 25 Jan, 2024 12:47pm

Sports

Sabalenka has Gauff in sights as Grand Slam final beckons

MELBOURNE: Aryna Sabalenka is on a mission to avenge her 2023 US Open loss to Coco Gauff in the last four of the...

Published 25 Jan, 2024 12:25pm

Europe

French court to rule on controversial immigration bill

PARIS: France’s highest constitutional authority will on Thursday issue a keenly-awaited verdict on whether an...

Published 25 Jan, 2024 12:06pm

Middle East

Qatar ‘appalled’ at alleged criticism by Netanyahu

DOHA: Qatar said Wednesday it was “appalled” by remarks attributed to Israeli Prime Minister Benjamin Netanyahu, who...

Published 25 Jan, 2024 12:00pm

World

Giant waves flood key US military base on Marshall Islands

MAJURO: A clean-up operation was underway Thursday after giant waves flooded a key US military base on the Marshall...

Published 25 Jan, 2024 11:53am

Bullion Rate

China’s 2023 gold output up 0.84% to 375.155 metric tons

BEIJING: China’s production of gold using domestic raw materials climbed by 0.84% to 375.155 metric tons in 2023,...

Published 25 Jan, 2024 11:32am

Business & Finance

EBRD invests record 1.3bn euros in Poland in 2023, prepares new country strategy

WARSAW: European Bank for Reconstruction and Development (EBRD) invested record 1.3 billion euros ($1.42 billion) in...

Published 25 Jan, 2024 11:27am

Forex

Indian rupee little changed tracking mostly subdued Asian peers

MUMBAI: The Indian rupee was barely changed on Thursday, tracking rangebound moves in most of its Asian peers as...

Published 25 Jan, 2024 11:26am

Commodities

Corn nears 2-week high on Brazilian crop woes; wheat up 1%

SINGAPORE: Chicago corn futures edged higher on Thursday, with the market trading close to its highest level in two...

Published 25 Jan, 2024 11:25am

Commodities

Copper dips from 3-week high on caution after China policy support

Copper prices fell on Thursday after two straight sessions of gains, as traders and investors reassessed the...

Published 25 Jan, 2024 11:23am

Stocks

China stocks rise after central bank cuts bank reserves, supports property

SHANGHAI: China stocks rallied for a third straight session on Thursday, after the country’s central bank announced...

Published 25 Jan, 2024 11:22am

Business & Finance

Moderate US economic growth expected in fourth quarter

WASHINGTON: The US economy likely grew at its slowest pace in 1-1/2 years in the fourth quarter as businesses...

Published 25 Jan, 2024 11:21am

Bullion Rate

Gold hovers near 1-week low on firm dollar; US data, ECB in focus

Gold prices hovered near a one-week low on Thursday, pressured by a firmer US dollar and higher bond yields...

Published 25 Jan, 2024 11:19am

Companies

Hyundai Motor’s Q4 net profit rises 31%, misses forecasts

SEOUL: South Korea’s Hyundai Motor Co on Thursday reported a 31% rise in fourth-quarter profit that missed analyst...

Published 25 Jan, 2024 11:17am

Mutual Funds

JGB yields rise on BOJ stimulus exit bets, weak 40-year bond auction

TOKYO: Benchmark Japanese government bond yields rose to a six-week high on Thursday as investors continued to...

Published 25 Jan, 2024 11:16am

Real Estate

Average price of new Tokyo apartment jumps in 2023, sets record

TOKYO: The price of new apartments in Tokyo leapt to a record 114.8 million yen ($777,093) in 2023, pushed up by...

Published 25 Jan, 2024 11:15am

Business & Finance

Emirates NBD posts 65% profit jump in 2023

DUBAI: Emirates NBD, Dubai’s biggest bank by assets, posted on Thursday a 65% increase in full-year profit, as asset...

Published 25 Jan, 2024 11:13am

Technology

Apple smartphone shipments in China shrink 2.1% in fourth quarter

BEIJING: Apple’s smartphone shipments in China shrank 2.1% in the final quarter of 2023 from the same period a year...

Published 25 Jan, 2024 11:10am

Europe

Ukraine says it shoots down 11 of 14 Russian drones

KYIV: Russia launched 14 attack drones and five missiles at Ukraine overnight, Ukraine’s air force said on Thursday,...

Published 25 Jan, 2024 11:08am

Mutual Funds

India bond yields await directional cue from debt sale

MUMBAI: Indian government bond yields were trading largely unchanged on Thursday, having recovering from a slight...

Published 25 Jan, 2024 11:07am

USA

FAA halt to Boeing MAX production expansion to hit airlines, suppliers

WASHINGTON: The aerospace industry faces widening disruption from the blowout of a panel on an Alaska Airlines...

Published 25 Jan, 2024 11:06am

Forex

China’s yuan holds steady as stocks bounce after RRR cut

SHANGHAI: China’s yuan held steady against the US dollar on Thursday, as stocks bounced after the country’s central...

Published 25 Jan, 2024 11:04am

Sports

Mohamed Salah will ‘100%’ return for AFCON final if he recovers: Klopp

Mohamed Salah will definitely return to the Africa Cup of Nations (AFCON) if he recovers in time from injury and...

Published 25 Jan, 2024 11:03am

Stocks

PSX’s market cap can hit $330bn if minority shareholders are ‘protected’: AKD

KARACHI: In Pakistan, Ponzi schemes, scams, and illegal loan apps get more attention than companies at the stock...

Updated 25 Jan, 2024 10:53am

South Asia

India has not told its defence personnel to pull out from Maldives

NEW DELHI: India’s government has not told its defence personnel to pull out from Maldives following a request from...

Published 25 Jan, 2024 10:44am

USA

US deplores deadly attack on UN shelter in Gaza

WASHINGTON: The White House has condemned Wednesday’s deadly shelling of a UN shelter in southern Gaza, reiterating...

Published 25 Jan, 2024 10:39am

Business & Finance

North Korea’s Kim seeks to level up ‘huge’ gaps in living standards

SEOUL: North Korean leader Kim Jong Un called for “leveling up” the living standards of rural areas, saying a...

Published 25 Jan, 2024 10:34am

Stocks

Shanghai, Hong Kong rally on China stimulus hopes, Asian markets mixed

HONG KONG: Shanghai and Hong Kong stocks built on their recent rally Thursday as traders awaited fresh pledges of...

Published 25 Jan, 2024 10:31am

Stocks

Australian shares gain on miners rally, US economic data

Australian shares gained for a fifth straight session on Thursday led by a mining stocks rally, while economic data...

Published 25 Jan, 2024 10:12am

Stocks

Japan’s Nikkei falls as BOJ policy shift prospects weigh

TOKYO: Japan’s Nikkei share average fell further on Thursday as market participants firmed up bets that the Bank of...

Published 25 Jan, 2024 10:10am

Stocks

Indian shares set for flat open with key results in focus

BENGALURU: Indian shares will likely open little changed on Thursday, tracking their Asian peers, with the focus on...

Published 25 Jan, 2024 10:08am

Forex

Dollar steady near 6-weeek highs ahead of US GDP; eyes on ECB meeting

SINGAPORE: The dollar was broadly steady near a six-week high on Thursday, as investors await GDP and other data...

Published 25 Jan, 2024 10:07am

Energy sector: Major step taken towards reducing circular debt

Caretaker Prime Minister Anwaar-ul-Haq Kakar directs Ministry of Energy to prepare and submit a comprehensive and sustainable plan after consultation with Finance Ministry

Updated 25 Jan, 2024 09:47am

PARCO pipeline: Customs unearths ‘tunnel’ dug for stealing diesel

KARACHI: Customs Intelligence has busted a gang stealing non-duty paid diesel from the PARCO oil pipeline via a...

Updated 25 Jan, 2024 09:46am

Disco consumers: NTDC seeks Nepra’s help to recover Rs41.5bn

ISLAMABAD: National Transmission and Despatch Company (NTDC) has knocked the doors of National Electric Power...

Updated 25 Jan, 2024 09:45am

ECP accuses LGs of ‘facilitating’ candidates, warns of ‘stern’ action

ISLAMABAD: The Election Commission of Pakistan (ECP) has accused the elected heads and other functionaries of the...

Updated 25 Jan, 2024 09:42am

Business & Finance

Sale of natural gas: Ogra grants licence to SSGC’s subsidiary

KARACHI: The Oil and Gas Regulatory Authority (OGRA) has granted a licence to SSGC Alternate Energy (Private)...

Updated 25 Jan, 2024 09:41am

Business & Finance

Petroleum concession deals, exploration licences signed

ISLAMABAD: Petroleum Concession Agreements (PCAs) and Exploration Licences (ELs) over block no Kotra East (2867-8),...

Updated 25 Jan, 2024 09:41am

Getting power from Cat–III wind projects: KE links setting up of infrastructure to Nepra’s nod

ISLAMABAD: K-Electric (KE) has reportedly linked establishment of infrastructure of power evacuation from...

Updated 25 Jan, 2024 09:11am

Auction for MTBs: 62bps ‘surprise’ drop in cut-off yield

KARACHI: The cut-off yield on short-term government securities surprisingly declined up to 62 basis points in the...

Updated 25 Jan, 2024 09:11am

Appointment of ATIR chief, judicial members: LHC DB suspends its single-member bench’s judgment

ISLAMABAD: A division bench of the Lahore High Court (LHC) suspended its single-judge judgment regarding the...

Updated 25 Jan, 2024 09:10am

Business & Finance

Govt picks Rs87bn thru Sukuk auction

KARACHI: The government has smartly borrowed slightly less amount to maintain yields in the latest Sukuk auction at...

Updated 25 Jan, 2024 09:10am

BR’s refresher: your morning briefing for the day

Important updates from January 24, 2024

Published 25 Jan, 2024 09:09am

BR Research

Record rice leads exports

December 2023 goods’ exports surged to $2.8 billion – breaking the string of low export earnings – recording the...

Published 25 Jan, 2024 08:57am

BR Research

Telco FDI in 1HFY24

The FDI in the telecom sector has been falling continuously after the spike in FY20 when 3G/4G came to the country....

Published 25 Jan, 2024 08:52am

BR Research

Maple Leaf Cement Company

Maple Leaf Cement Company (PSX: MLCF) was incorporated in Pakistan as a public limited company in 1960. The company...

Published 25 Jan, 2024 08:50am

Opinion

Federal budget and business leadership

The federal budget is anxiously awaited every year and, as per tradition, the trade organizations get their act...