News Archives for Latest - 2024-01-26

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Archive - 2024-01-26

Pakistan

Pakistan welcomes World Court’s ruling, reiterates call for immediate ceasefire in Gaza

Provisional measures ordered by International Court of Justice are timely and significant milestone in pursuit of justice for Palestinian people and international accountability of Israel, Islamabad says

Updated 26 Jan, 2024 11:34pm

World

Senior Hamas official: ICJ ruling helps to ‘isolate’ Israel

DOHA: Senior Hamas official Sami Abu Zuhri said the International Court of Justice (ICJ) ruling on Friday was an...

Published 26 Jan, 2024 11:33pm

Europe

Hungary making talks on EU aid for Ukraine ‘more complicated’: senior EU official

BRUSSELS: European Union (EU) talks on giving Ukraine 50 billion euros ($54 billion) in financial aid have been...

Published 26 Jan, 2024 11:07pm

Energy

Oil dips but remains on track for weekly gain on US, Chinese growth

HOUSTON: Oil prices weakened slightly on Friday, but remain set for a second weekly gain as positive U.S. economic...

Updated 26 Jan, 2024 10:55pm

Europe

Putin says Ukraine shot down plane, not clear if deliberately or in error

MOSCOW: Russian President Vladimir Putin said a Russian military plane that crashed near the border with Ukraine on...

Published 26 Jan, 2024 10:43pm

Companies

PRL says plans to double refining capacity within 5 years

KARACHI: Pakistan Refinery Limited (PRL) revealed a plan on Friday to double its capacity to 100,000 barrels per day...

Updated 26 Jan, 2024 10:42pm

Stocks

Lucky Cement’s earnings jump 109% in July-December

Lucky Cement’s profit-after-tax amounted to Rs38.32 billion, a massive increase of over 109%, during the half year...

Updated 26 Jan, 2024 10:41pm

Exchange

Rupee inches upward, settles at 279.59 against US dollar

Currency gains 0.03% in inter-bank market

Updated 26 Jan, 2024 10:40pm

Middle East

Deadly attacks on Gaza, cold weather making it ‘uninhabitable’: UN

GENEVA: Relentless attacks against infrastructure and cold weather in Gaza are making the Palestinian enclave...

Updated 26 Jan, 2024 10:40pm

World

WHO rejects Israel’s claim of ‘collusion’ with Hamas

GENEVA: The World Health Organization on Friday denied Israel’s claim that the WHO was in collusion with Hamas by...

Published 26 Jan, 2024 10:05pm

Two ‘innovative’ power sector plans fail to attract MoF support

There are discussions that circular debt reduction plan should not be in conflict with pledges made to the IMF

Updated 26 Jan, 2024 09:53pm

Pakistan

Bilawal Bhutto challenges Nawaz Sharif for debate before election

Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto Zardari on Friday challenged Pakistan Muslim League-Nawaz...

Published 26 Jan, 2024 09:51pm

Middle East

World Court orders Israel to prevent acts of genocide, but fails to order ceasefire

Some rights sought by South Africa in its genocide case against Israel's war in Gaza are plausible, says court
Without ceasefire, court's order doesn't work, says South Africa’s minister of international relations

Updated 26 Jan, 2024 09:23pm

Europe

EU says it expects full implementation of World Court orders

The European Union on Friday said it expected Israel and Hamas to fully comply with the rulings of the International...

Published 26 Jan, 2024 09:19pm

Europe

Turkiye’s Erdogan signs off on Sweden’s NATO membership

ANKARA: Turkiye’s president finally approved Sweden’s bid to join NATO on Thursday, ending months of delay and...

Published 26 Jan, 2024 09:16pm

Life & Style

Local in focus: 5 artisanal coffee breweries on our radar

You may have noticed artisanal coffee breweries popping up around town, serving up pour-overs and more, all in a...

Published 26 Jan, 2024 08:39pm

Stocks

KSE-100 falls below 64,000 amid selling pressure

Benchmark index settles at 63,813.06, down by 484.94 points or 0.75%

Updated 26 Jan, 2024 08:38pm

Energy

‘Essential maintenance’: Attock Refinery announces month-long shutdown of some units

Attock Refinery Limited (ATRL), a subsidiary of Attock Oil Company Limited, announced a month-long closure of some...

Updated 26 Jan, 2024 08:37pm

Financial

National Saving Schemes: CDNS reduces rates of return on some products

The Central Directorate of National Savings (CDNS) has revised the rates of return on some of its National Savings...

Updated 26 Jan, 2024 08:34pm

Stocks

Wall St eyes muted open as inflation data offsets Intel’s bleak forecast

Wall Street’s main indexes were set for a subdued open on Friday as an in-line inflation print signaling continued...

Published 26 Jan, 2024 07:44pm

Middle East

Israel’s El Al suspends South Africa route over World Court case

JERUSALEM: El Al Israel Airlines said on Friday it was suspending its route to Johannesburg at the end of March,...

Published 26 Jan, 2024 07:35pm

Markets

Fauji Fertilizer Company makes Rs47.5bn profit in 2023

Fauji Fertilizer Company Limited (FFC), one of Pakistan’s largest fertilizer producers, posted a profit-after-tax of...

Updated 26 Jan, 2024 07:17pm

Energy

Global LNG: Asia spot prices remain flat below $10/mmBtu despite geopolitical risks

LONDON: Asian spot liquefied natural gas (LNG) prices remained below $10 per million British thermal units (mmBtu)...

Published 26 Jan, 2024 06:46pm

Middle East

South Africa: court ruling against Israel a victory for rule of law

JOHANNESBURG: South Africa hailed what it called a “decisive victory” for international rule of law on Friday, after...

Published 26 Jan, 2024 06:41pm

South Asia

China hands former top bank official 20 years in jail for bribery

BEIJING: A former executive at one of China’s largest state-run banks was sentenced to 20 years in prison for...

Published 26 Jan, 2024 06:28pm

Middle East

Palestinian foreign minister welcomes ICJ provisional measures

RAMALLAH: Palestine welcomes the provisional measures ordered by the International Court of Justice (ICJ),...

Published 26 Jan, 2024 06:15pm

Europe

Ukraine invites China’s Xi to ‘peace summit’

KYIV: Ukraine has invited Chinese President Xi Jinping to participate in a planned “peace summit” of world leaders...

Published 26 Jan, 2024 06:03pm

Commodities

Copper slips on doubts over China’s stimulus measures

LONDON: Copper prices dipped on Friday as many investors questioned whether attempts by top metals consumer China to...

Published 26 Jan, 2024 05:54pm

Perspectives

Bigger than Elon Musk’s Tesla: Chinese EV giant BYD takes centrestage

Think about a futuristic electric car – Tesla’s EV may very well be the first one to pop into one’s head. But...

Published 26 Jan, 2024 05:52pm

Money & Banking

Philippine central bank governor sees room for further rate hike

MANILA: The Philippines central bank was still hawkish with monetary policy and saw further room for an interest...

Published 26 Jan, 2024 05:48pm

Stocks

UAE markets track oil price lower

Stock exchanges in the United Arab Emirates declined on Friday, tracking oil prices on the prospect that oil...

Published 26 Jan, 2024 05:27pm

Bullion Rate

Gold price per tola increases Rs400 in Pakistan

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

Published 26 Jan, 2024 04:48pm

Sports

Klopp to leave Liverpool at end of the season

LONDON: Juergen Klopp stunned the world of football on Friday when he announced he would stand down as Liverpool...

Published 26 Jan, 2024 04:54pm

Bullion Rate

Asia Gold: Stimulus, New Year cheer ignites China demand, India awaits budget

China’s physical gold premiums climbed this week as additional stimulus measures aided sentiment days before Lunar...

Published 26 Jan, 2024 04:49pm

Stocks

Sri Lankan shares snap 12-session losing streak

BENGALURU: Sri Lankan shares snapped a 12-session losing streak and closed higher on Friday, driven by gains in...

Published 26 Jan, 2024 04:45pm

Arts

Early David Hockney pool painting ‘California’ headed for auction

LONDON: An early work by British artist David Hockney, a painting depicting his well-known pool motif and not seen...

Published 26 Jan, 2024 02:59pm

Real Estate

Dubai’s property boom shows signs of fizzling out

LONDON/DUBAI: As cranes speckle the Dubai skyline and ultra-luxury homes change hands at record prices, signs that...

Updated 26 Jan, 2024 02:52pm

Middle East

Civilians trapped in Gaza’s south, Hague decision looms

GAZA STRIP: Concern grew on Friday for civilians trapped by fighting around Khan Yunis in Gaza’s south, with the top...

Updated 26 Jan, 2024 02:28pm

Sports

Century eludes Rahul but India extend lead v England

HYDERABAD: KL Rahul’s classy 86 helped India eclipse England’s first-innings total of 246 and take control of the...

Updated 26 Jan, 2024 02:22pm

Forex

Russian rouble eases to one-week low as month-end taxes approach

MOSCOW: The Russian rouble weakened to a one-week low against the dollar on Friday, as it failed to get the usual...

Published 26 Jan, 2024 01:55pm

Stocks

FTSE 100 jumps to 10-day high as luxury stocks gain

London’s blue-chip share index jumped to a 10-day high on Friday after upbeat earnings updates from European luxury...

Published 26 Jan, 2024 01:52pm

Companies

Quality control at heart of latest Boeing crisis

NEW YORK: Boeing is facing intensifying scrutiny over its quality control practices in the aftermath of a...

Published 26 Jan, 2024 01:48pm

Pakistan

Parties and their manifestos: some have promised much, but most have not bothered at all

Major political entities are vying to capture attention of voters by presenting enticing promises and building a compelling narrative

Updated 26 Jan, 2024 01:45pm

Stocks

European stock markets diverge at open

LONDON: Europe’s main stock markets diverged at the start of trading on Friday, with big gains for Paris and London...

Published 26 Jan, 2024 01:44pm

Business & Finance

Truck maker Volvo’s Q4 operating profit beats expectations

STOCKHOLM: Swedish truck maker AB Volvo reported a bigger-than-expected rise in fourth-quarter adjusted operating...

Published 26 Jan, 2024 01:42pm

Travel

‘Earth moves away’ as hot air balloons fly high above Swiss Alps

CHATEAU-D’OEX, Switzerland: Dozens of colourful hot air balloons dotted the near-cloudless sky above the Swiss...

Published 26 Jan, 2024 01:38pm

Europe

Turkiye moving swiftly toward final step on Sweden’s NATO bid

ISTANBUL: Turkiye is expected to send the final instrument of ratification for Sweden’s NATO membership to...

Published 26 Jan, 2024 01:34pm

Technology

Fortum weighs cutting up to 130 jobs

COPENHAGEN: Finnish utility Fortum said on Friday it had started negotiations with labour unions that could see up...

Published 26 Jan, 2024 12:26pm

Sports

Sensational Jannik Sinner dethrones Djokovic to reach Australian Open final

MELBOURNE: Jannik Sinner downed defending champion Novak Djokovic 6-1 6-2 6-7(6) 6-3 at the Australian Open on...

Published 26 Jan, 2024 12:24pm

Europe

Belarus investigates some 20 analysts over ‘harming national security’

Authorities in Belarus, Russia’s closest ally, launched an investigation on Thursday into a group of 20 independent...

Published 26 Jan, 2024 12:17pm

Sports

West Indies grab four wickets to put Australian on back foot

BRISBANE: West Indies pacer Kemar Roach took three quick wickets to stun Australia on day two of the second Test at...

Updated 26 Jan, 2024 12:00pm

Jul-Dec power sector circular debt soars to Rs2.55trn

Shows 10.5 percent growth in flow per month -Rs 40 billion in total terms

Updated 26 Jan, 2024 11:54am

Stocks

Hong Kong stocks dip at open after three-day surge

HONG KONG: Hong Kong stocks opened lower Friday morning as profit-takers moved in after a three-day rally that saw...

Published 26 Jan, 2024 11:53am

Europe

Uncertainty hangs over Russia’s account of plane crash

KYIV: Questions remained Thursday over the military plane crash that Russia said had killed dozens of captured...

Published 26 Jan, 2024 11:46am

Asia

Japan says New Year quake damage could cost $17 billion

TOKYO: The cost of the damage wreaked by a huge New Year’s Day earthquake that killed at least 236 people in central...

Published 26 Jan, 2024 11:41am

BR Research

Monetary Policy: To cut or not to cut?

The monetary policy is due on Monday, and it’s hard to make a call, as there are reasons to justify a token cut...

Updated 26 Jan, 2024 11:27am

Sports

Aryna Sabalenka banks on emotional edge over Zheng in Australian Open final

MELBOURNE: Defending champion Aryna Sabalenka is confident she will have a crucial emotional edge over Zheng Qinwen...

Published 26 Jan, 2024 11:25am

South Asia

India fetes France’s Macron at annual military parade

NEW DELHI: President Emmanuel Macron was guest of honour Thursday for India’s pomp-filled annual military parade, in...

Published 26 Jan, 2024 11:21am

Middle East

China presses Iran to rein in Houthi attacks in Red Sea, sources say

DUBAI: Chinese officials have asked their Iranian counterparts to help rein in attacks on ships in the Red Sea by...

Published 26 Jan, 2024 11:09am

USA

Haley raises $1mn since Trump donor warning, but loses a prominent funder

Republican presidential candidate Nikki Haley’s campaign said it had raised $1 million since Donald Trump issued a...

Published 26 Jan, 2024 10:49am

Asia

White House’s Sullivan to meet with China’s foreign minister in Bangkok

WASHINGTON/BEIJING: US National Security Advisor Jake Sullivan will meet with Chinese Foreign Minister Wang Yi in...

Published 26 Jan, 2024 10:46am

Stocks

Asia stocks on track for weekly gain; eyes on US inflation test

SINGAPORE: Asian shares were set on Friday to snap a three-week losing streak, while investors awaited a key reading...

Published 26 Jan, 2024 10:42am

Business & Finance

Tata Steel CEO says job cuts in Britain ‘least bad option,’ will continue talks

NEW DELHI: Planned job cuts in Britain by India’s Tata Steel were the “least bad option,” and the company will...

Published 26 Jan, 2024 10:37am

Business & Finance

Thailand December exports rise 4.7% y/y, less than forecast

BANGKOK: Thailand’s customs-based exports rose for a fifth straight month in December, up 4.7% from a year earlier,...

Published 26 Jan, 2024 10:33am

Commodities

Palm oil tracks Dalian rivals lower; set for third weekly gain

SINGAPORE: Malaysian palm oil futures eased on Friday as it reopened after a public holiday, weighed down by a...

Published 26 Jan, 2024 10:30am

Forex

China’s yuan eases but set to snap three straight weeks of losses

SHANGHAI: China’s yuan slipped against the dollar on Friday but was on course to snap three straight weeks of...

Published 26 Jan, 2024 10:28am

Commodities

Soybeans set for weekly gain on short-covering, LatAm supplies weigh

SINGAPORE: Chicago soybeans edged higher on Friday and were poised for their first weekly gain in a month, while...

Published 26 Jan, 2024 10:26am

Sports

Hsieh, Zielinski in thrilling mixed doubles win at Australian Open

MELBOURNE: Taiwanese-Polish duo Hsieh Su-wei and Jan Zielinski won a match tiebreaker to claim the Australian Open...

Published 26 Jan, 2024 10:24am

Sports

Ivory Coast seek reset but in-form Senegal await

ABIDJAN: Hosts Ivory Coast get to push a reset button after escaping early elimination at the Africa Cup of Nations...

Published 26 Jan, 2024 10:21am

Business & Finance

Global economy outlook at odds with aggressive rate cut bets

BENGALURU: Global growth is set to stay resilient this year and only pick up pace a bit in 2025, according to a...

Published 26 Jan, 2024 10:06am

Stocks

New Zealand shares snap 4-day rally but set for weekly gain; Australia closed

New Zealand shares snapped a four-session rally on Friday but were set for a weekly gain, while global stocks rose...

Published 26 Jan, 2024 10:03am

Stocks

Nikkei slides, erasing gains for week, as chip shares slump

TOKYO: Japan’s Nikkei share average slumped on Friday, erasing its gains for the week, as chip-sector shares tumbled...

Published 26 Jan, 2024 10:01am

Sports

Rachin Ravindra gets New Zealand Test call-up for South Africa series

Rachin Ravindra, who was this week named ICC Emerging Player of the Year for his World Cup heroics, was included on...

Published 26 Jan, 2024 10:00am

Bullion Rate

Gold heads for 2nd weekly fall on strong US economy, robust dollar

Gold prices were set for their second consecutive weekly fall on the face of a resilient US economy that kept the...

Published 26 Jan, 2024 09:57am

Stocks

China stocks retreat after rally as investors eye more stimulus

SHANGHAI: China stocks slipped on Friday, after three sessions of gains following the government’s decision to roll...

Published 26 Jan, 2024 09:56am

ECB keeps rates unchanged

FRANKFURT: The European Central Bank kept interest rates unchanged at a record-high 4% as expected on Thursday and...

Updated 26 Jan, 2024 09:55am

Forex

Dollar steady ahead of inflation data; euro eases on ECB rate cut hopes

TOKYO: The US dollar held firm on Friday after rising overnight, as traders weighed how domestic GDP data that...

Published 26 Jan, 2024 09:52am

SC highlights criticality of intra-party polls

ISLAMABAD: The Supreme Court said if intra-party elections are not held in a political party it severs its...

Updated 26 Jan, 2024 09:36am

PM urges Al-Jomaih Group to invest in alternative energy

ISLAMABAD: The government welcomes Saudi investment in Pakistan’s energy sector, stated Caretaker Prime Minister...

Updated 26 Jan, 2024 09:36am

Turkish firm wants probe into ‘Lot-1 affair’

ISLAMABAD: Turkish energy firm M/s SA-RA has urged caretaker Minister for Power and Petroleum Muhammad Ali to...

Updated 26 Jan, 2024 09:35am

BR Research

Honda: Letting it slide

Despite a pronounced reduction in volumetric sales (down 57% to be exact), Honda Atlas Cars (PSX: HCAR) ended the...

Published 26 Jan, 2024 09:21am

BR Research

Quice Food Industries Limited

Quice Food Industries Limited (PSX: QUICE) was incorporated in Pakistan as a private limited company in 1990. The...

Published 26 Jan, 2024 09:19am

Hunger stalks the entire Gaza Strip

GAZA/GENEVA: In battered, hard-to-reach north Gaza, rare aid deliveries get mobbed by desperate, hungry Palestinians...

Updated 26 Jan, 2024 08:46am

CCoE meets today to negotiate with baggasse power plants

ISLAMABAD: The Cabinet Committee on Energy (CCoE) headed by caretaker Minister for Power and Petroleum Muhammad Ali...

Updated 26 Jan, 2024 08:45am

Withdrawal of approval of non-NPO status: LHC upholds order of LTO Lahore

ISLAMABAD: Lahore High Court (LHC) has upheld the order of the Large Taxpayer Office (LTO) Lahore to withdraw the...

Updated 26 Jan, 2024 08:45am

Armed, civil armed forces personnel: ECP issues ‘code of conduct’

ISLAMABAD: The personnel of armed forces and civil armed forces will not respond at their own to apparent...

Updated 26 Jan, 2024 08:44am

Investment roadmap of PIACL: FA presents business plan

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

Updated 26 Jan, 2024 08:44am

BR’s refresher: your morning briefing for the day

Important updates from January 25, 2024

Published 26 Jan, 2024 08:34am

Opinion

Scientific consensus supports the safety and benefits of GMOs…

In Pakistan, the debate over Genetically Modified Organisms including seeds (GMOs) is polarized, with concerns about...

Updated 26 Jan, 2024 05:31am

Opinion

Inherent internal conflict in IMF programmes as the elephant in the room

In its first review of the ongoing Standby Arrangement (SBA) programme with Pakistan, the International Monetary ...

Updated 26 Jan, 2024 05:30am

Opinion

Pakistan & ESG implementation

Environmental, Social, and Governance (ESG) values act as the guiding principle for a corporate sector’s ...

Updated 26 Jan, 2024 05:27am

Editorials

Of internet outages and bizarre excuses

EDITORIAL: Internet shutdowns and nationwide disruptions to social media platforms, of late, have regrettably become...

Updated 26 Jan, 2024 05:26am

Editorials

Fixing the forex market

EDITORIAL: The State Bank of Pakistan (SBP) has introduced a new foreign exchange (FX) electronic trading platform...

Updated 26 Jan, 2024 05:18am

Pakistan

The Weather

KARACHI: The weather report on Thursday (January 25, 2024) and the forecast for Friday (January 26, 2024)...