News Archives for Latest - 2024-02-01

USA

US State Dept approves nearly $4 billion sale of 31 armed drones to India

WASHINGTON: The U.S. State Department has approved the potential sale of 31 armed MQ-9B SkyGuardian drones, related...

Published 01 Feb, 2024 11:50pm

Pakistan

In focus: Pervaiz Elahi banking on old-fashioned support

Chaudhry Pervaiz Elahi, contesting election from PP-32 Gujrat, has stood tall with the now-incarcerated former prime...

Updated 01 Feb, 2024 11:21pm

Pakistan

9am-6pm on Friday: some of Karachi’s Defence area to be without electricity as KE undertakes maintenance work

K-Electric (KE) will undertake critical maintenance activity at Defence Grid on Friday, February 2, 2024, to “ensure...

Updated 01 Feb, 2024 11:11pm

World

US imposes sanctions on settlers over attacks on Palestinians

WASHINGTON: The United States on Thursday imposed sanctions on a handful of extremist Jewish settlers over violence...

Published 01 Feb, 2024 10:53pm

Energy

Mari Petroleum drills another appraisal well in Sindh

Mari Petroleum Company Limited (MARI), one of Pakistan’s largest E&P companies, has successfully drilled another...

Updated 01 Feb, 2024 10:16pm

Forex

Rupee largely stable against US dollar

Currency settles at 279.48 level in inter-bank market

Updated 01 Feb, 2024 10:15pm

Pakistan

Sindh announces holidays for educational institutes from February 6 to 9

The Sindh Education Department announced Thursday the closure of all public and private schools, colleges, and...

Published 01 Feb, 2024 09:40pm

Pakistan

'Take immediate action against terrorist entities,' Pakistan urges Afghan authorities

Foreign Office Spokesperson Mumtaz Zahra Baloch says Pakistan wants Afghanistan to hand over leadership of terror groups to Pakistan

Updated 01 Feb, 2024 09:32pm

Pakistan

Elections to take place on February 8 ‘come what may’: interior minister

Caretaker Interior Minister Gohar Ejaz, who recently took over the added portfolio, said on Thursday general...

Updated 01 Feb, 2024 09:24pm

Europe

Ukrainian nuclear staff barred from Russia-held plant: IAEA

VIENNA: The International Atomic Energy Agency (IAEA) said Thursday that workers from Ukraine’s atomic energy...

Published 01 Feb, 2024 08:51pm

Forex

SBP-held foreign exchange reserves decrease $54mn, now stand at $8.22bn

Central bank attributes decrease in reserves to debt repayments

Published 01 Feb, 2024 08:32pm

Stocks

US stocks rebound from sell-off on Fed disappointment

NEW YORK: Wall Street stocks rose early Thursday, rebounding from the prior session’s pullback as markets awaited...

Published 01 Feb, 2024 08:15pm

Europe

Macron urges Europe to ‘accelerate’ aid to Ukraine

STOCKHOLM: French President Emmanuel Macron on Tuesday urged Europe’s leaders to make bold and “innovative”...

Published 01 Feb, 2024 07:35pm

South Asia

Centuries-old mosque torn down in Indian capital

NEW DELHI: Bulldozers have knocked down a centuries-old mosque in India’s capital, a member of the building’s...

Updated 01 Feb, 2024 07:31pm

Middle East

Arab Health in Dubai: Pakistan’s way forward into healthcare market?

This year, more than 40 Pakistani companies participated in the exhibition

Published 01 Feb, 2024 07:27pm

Stocks

Sri Lankan shares end higher as financials, consumer staples gain

BENGALURU: Sri Lankan shares ended higher on Thursday, helped by gains in financials and consumer staples stocks....

Published 01 Feb, 2024 07:19pm

Europe

Ukraine says ‘destroyed’ Russian warship off Crimea

KYIV: Ukraine said Thursday it had destroyed a Russian warship in the Black Sea off the Crimean peninsula, which has...

Published 01 Feb, 2024 07:10pm

Stocks

Gulf bourses mixed on rate cut expectations, geopolitical tensions

Stock markets in the Gulf ended mixed on Thursday as the U.S. Federal Reserve signalling a possible start to...

Published 01 Feb, 2024 07:08pm

Middle East

Hamas unlikely to reject ceasefire but will demand Israeli withdrawal

Hamas is unlikely to reject a Gaza ceasefire proposal it received from mediators this week, but will not sign it...

Published 01 Feb, 2024 06:43pm

Luxury

72,500 millionaires: Dubai third-richest city in BRICS

Dubai lives up to reputation as ‘city of gold’, says Henley & Partners report

Published 01 Feb, 2024 06:10pm

Stocks

Strong corporate performance drives final-hour buying rally at PSX

After a volatile session at the Pakistan Stock Exchange (PSX), strong corporate results helped stocks stage a...

Updated 01 Feb, 2024 06:01pm

Pakistan

General elections: ECP announces public holiday on Feb 8

Decision taken to enable voters to exercise their right of franchise freely and conveniently, says ECP

Updated 01 Feb, 2024 05:57pm

Energy

Tight Gas Policy 2024 eyes increased investment in Pakistan’s energy sector

The federal government, in its bid to facilitate investment by the oil and gas industry in unconventional...

Updated 01 Feb, 2024 05:51pm

Cricket

Sri Lanka captain says aggression key to halt Test slide

COLOMBO: Sri Lanka needs more on-field aggression to reestablish its Test prowess, new captain Dhananjaya de Silva...

Published 01 Feb, 2024 05:51pm

Stocks

Stock markets stumble as Fed crushes March rate cut hope

LONDON: Most Asian and European stock markets fell Thursday following a Wall Street selloff, after the US Federal...

Updated 01 Feb, 2024 05:46pm

Markets

Pakistan’s headline inflation reading clocks in at 28.3% in January

Figure in line with official estimates that put CPI reading in range of 27.5-28.5%

Updated 01 Feb, 2024 05:42pm

Energy

Oil buoyed by US signals on interest rate cuts

LONDON: Oil prices edged higher on Thursday, boosted by the U.S. Federal Reserve signalling a possible start to...

Updated 01 Feb, 2024 05:31pm

Stocks

Indian shares close lower after budget as Fed, high valuations weigh

BENGALURU: Indian shares closed marginally lower on Thursday after the country’s finance minister presented the...

Published 01 Feb, 2024 05:00pm

Energy

PRL posts PAT of over Rs2bn in 2QFY24

EPS clocks in at Rs3.22 for Oct-Dec period

Published 01 Feb, 2024 04:49pm

Commodities

Copper retreats on stronger dollar; tighter supply and China data limit losses

LONDON: Copper prices fell in London on Thursday amid the stronger dollar and signals of no U.S. rate cut in March,...

Published 01 Feb, 2024 04:57pm

Commodities

Asia rice: India rates extend rally on low supplies; Thai prices ease

Parboiled rice export prices from India extended their record rally this week, driven by tight supplies and firm...

Published 01 Feb, 2024 04:54pm

Commodities

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 01 Feb, 2024 04:29pm

Life & Style

Élan issues statement as Khadijah Shah returns at helm

Shah was charged for her alleged role in the May 9 riots and violence

Updated 01 Feb, 2024 03:58pm

Stocks

Earnings lift FTSE 100 ahead of BoE decision

Upbeat earnings from a slew of heavyweight companies lifted the UK’s FTSE 100 on Thursday, while investors awaited...

Published 01 Feb, 2024 03:52pm

Energy

OPEC+ committee meeting expected to keep output policy unchanged

LONDON/DUBAI/MOSCOW: A committee of OPEC+ ministers on Thursday is not expected to make any recommendations to...

Published 01 Feb, 2024 03:48pm

Business & Finance

Sri Lanka price hike after tax rises for IMF bailout

COLOMBO: Prices spiked more than six percent in Sri Lanka last month after it hiked taxes in line with IMF...

Published 01 Feb, 2024 03:10pm

Energy

Shell annual profit more than halves to $19.4bn

LONDON: Shell said Thursday that profit more than halved in 2023 on lower oil and gas prices, after rocketing to a...

Published 01 Feb, 2024 03:08pm

Sports

‘Chill’ India ready to bounce back against England

VISAKHAPATNAM: India are “chill” and confident in their bench strength to deliver a second Test bounce-back against...

Published 01 Feb, 2024 03:01pm

Forex

Sterling dips on dollar, gilt yields edge up ahead of BoE meeting

LONDON: Sterling fell against the dollar and British government bond yields ticked up ahead of a Bank of England...

Published 01 Feb, 2024 02:53pm

Commodities

Bangladesh gets offers in 50,000 metric tons wheat tender

HAMBURG: The lowest offer in an international tender from Bangladesh’s state grains buyer to purchase and import...

Published 01 Feb, 2024 02:51pm

Forex

Kenyan shilling steady, supported by loans and Eurobond comments

Kenya’s shilling was stable on Thursday, supported by foreign loans and comments by the president that the country...

Published 01 Feb, 2024 02:49pm

Business & Finance

India yet to see significant improvement in debt affordability: Moody’s

MUMBAI: India has not seen significant improvement in debt affordability to justify a rethink on the country’s...

Published 01 Feb, 2024 02:47pm

Pakistan

At least one killed in Quetta blast

At least one person was killed in a blast on Quetta’s CPEC road on Thursday, Aaj News reported. Police cordoned off...

Published 01 Feb, 2024 02:42pm

Sports

Shoaib Bashir to debut in Visakhapatnam, Anderson replaces Mark Wood

VISAKHAPATNAM: Spinner Shoaib Bashir will make his Test debut in the second match against India on Friday while...

Published 01 Feb, 2024 02:45pm

Companies

Bank Alfalah’s profit jumps over 96% in 2023

Bank Alfalah has posted a consolidated profit after tax of Rs36.09 billion during the year 2023, which is over 96%...

Published 01 Feb, 2024 02:43pm

Stocks

Major Gulf markets gain, helped by rate cut expectations

Major stock markets in the Gulf rose in early trade on Thursday, helped by signals from the US Federal Reserve about...

Published 01 Feb, 2024 02:38pm

Business & Finance

India plans to spend $134bn on infrastructure, narrow fiscal gap

NEW DELHI: India’s Finance Minister Nirmala Sitharaman on Thursday unveiled plans to spend nearly $134 billion on...

Published 01 Feb, 2024 02:35pm

Nepra voices its concern: Massive cut in use of powerby industries

A public hearing was conducted on a proposal of positive adjustment of Rs 5.62/kWh in tariffs of power Distribution Companies

Updated 01 Feb, 2024 02:28pm

Movies & Music

Will AI mean the death of music, or herald a new era of creativity?

GDANSK/LONDON: Inside a recording room at Queen Mary University of London, a group of researchers fiddle with novel...

Published 01 Feb, 2024 02:18pm

Business & Finance

Adani Enterprises Q3 profit more than doubles

BENGALURU: India’s Adani Enterprises reported a more than two-fold jump in third-quarter profit on Thursday, helped...

Published 01 Feb, 2024 02:03pm

Business & Finance

Deutsche Bank to cut 3,500 jobs and reward shareholders

FRANKFURT: Deutsche Bank said on Thursday it would cut 3,500 jobs, buy back shares and pay dividends, in its latest...

Published 01 Feb, 2024 02:00pm

Sports

‘Outstanding’ Liverpool thrash sorry Chelsea to stretch Premier League lead

LIVERPOOL: Liverpool remain on course to send Jurgen Klopp off as a Premier League winner after Chelsea were...

Published 01 Feb, 2024 12:57pm

Sports

LIV Golf begins 2024 season with future at stake in merger talks

WASHINGTON: Reigning Masters champion Jon Rahm will be LIV Golf’s newest star when the Saudi-backed upstart series...

Published 01 Feb, 2024 12:54pm

Stocks

Hong Kong stocks open slightly higher

HONG KONG: Hong Kong stocks opened with small gains Thursday following a two-day plunge, as traders brushed off...

Published 01 Feb, 2024 12:51pm

Business & Finance

IMF authorizes $4.7bn for Argentina after Milei’s ‘bold’ reforms

WASHINGTON: The International Monetary Fund on Wednesday approved $4.7 billion for Argentina, supporting the new...

Published 01 Feb, 2024 12:48pm

Sports

Victor Osimhen on a mission with Nigeria at Cup of Nations

ABIDJAN: Many of the biggest stars at this year’s Africa Cup of Nations have already been eliminated before the...

Published 01 Feb, 2024 12:46pm

Sports

Africa Cup of Nations head-to-head records

ABIDJAN: Results of previous Africa Cup of Nations matches between teams who meet in this year’s quarter-finals on...

Published 01 Feb, 2024 12:43pm

Sports

Tears and tragedy: Diawara making AFCON history with Guinea

ABIDJAN: This Africa Cup of Nations is far from over but it has already been a historic tournament for Guinea after...

Published 01 Feb, 2024 12:38pm

Middle East

Hamas head due in Cairo for truce talks

GAZA STRIP: The leader of Hamas was expected in Cairo on Thursday for talks on a proposed truce in Gaza, as Israel...

Published 01 Feb, 2024 12:29pm

Pakistan

Over half of population registered as voters: FAFEN

ISLAMABAD: With the fifth-highest number of registered voters globally, Pakistan has a record 128 million people,...

Updated 01 Feb, 2024 12:17pm

Europe

Russian bomb damages hospital, prompts evacuation in northeastern Ukraine

A Russian bomb struck a hospital in northeastern Ukraine on Wednesday, smashing windows and equipment and prompting...

Published 01 Feb, 2024 12:11pm

Energy

Russian oil flows through Red Sea still face lower risks

LONDON: Tankers carrying Russian oil have continued sailing through the Red Sea largely uninterrupted by Houthi...

Published 01 Feb, 2024 12:08pm

South Asia

India’s Modi likely to lay out modest economic manifesto in pre-election budget

NEW DELHI: Indian Prime Minister Narendra Modi’s government will present its final budget on Thursday before...

Published 01 Feb, 2024 11:54am

Europe

EU leaders seek deal to fund Ukraine as Hungary digs in heels

BRUSSELS: European Union leaders will seek on Thursday to convince Hungarian Prime Minister Viktor Orban to join a...

Published 01 Feb, 2024 11:41am

USA

Donald Trump election campaign raised $19 million in fourth quarter

WASHINGTON: Donald Trump’s election campaign reported on Wednesday that it had raised $19 million during the last...

Published 01 Feb, 2024 11:35am

Asia

South Korea defence minister heads to Middle East for talks, arms expo

SEOUL: South Korea’s defence minister Shin Won-sik departs on Thursday for a seven-day trip to the Middle East to...

Published 01 Feb, 2024 11:33am

Pakistan

Costs, uncertainty put a damper on Pakistan’s election campaigns

KARACHI: Higher living costs and political uncertainty have muted Pakistan’s once boisterous election campaigns,...

Published 01 Feb, 2024 11:31am

Stocks

Asia ponders Fed fallout, bonds still bullish on rate cuts

SYDNEY: Asian shares faltered on Thursday after Wall Street took a late spill, while investors stuck to bets for...

Published 01 Feb, 2024 11:28am

Business & Finance

China’s factory activity expands on export order boost

BEIJING: China’s factory activity expanded in January thanks to stable growth in output, quicker logistics and the...

Published 01 Feb, 2024 11:25am

Real Estate

China Jan new home prices rise at fastest pace since Aug 2021

BEIJING: China’s new home prices rose in January at the fastest monthly pace since August 2021, buoyed by a slew of...

Published 01 Feb, 2024 11:09am

Technology

Tesla China offers cash discounts for some Model Y types

BEIJING: Tesla China is offering 8,000 yuan ($1,114) of cash discounts from Thursday for some types of Model Y...

Published 01 Feb, 2024 11:04am

Business & Finance

Sony, Zee clashed over Russia assets, cricket deal before India deal collapse

NEW DELHI: Sony and Zee disagreed over more than 20 compliance issues, including the Indian firm’s failure to...

Published 01 Feb, 2024 11:01am

Asia

China’s Xi urges efforts to accelerate development of ‘new productive forces’

BEIJING: Chinese President Xi Jinping has urged efforts to accelerate the development of “new productive forces” and...

Published 01 Feb, 2024 10:54am

Commodities

Wheat falls on weak demand, falling Russian prices

CANBERRA: Chicago wheat futures moved lower on Thursday amid weak demand and falling export prices in Russia, while...

Published 01 Feb, 2024 10:44am

Asia

More than 130 Rohingya arrive in Indonesia’s Aceh

JAKARTA: Over 130 Rohingya landed on the shores of Indonesia’s Aceh province on Thursday, an official at the UN...

Published 01 Feb, 2024 10:42am

Mutual Funds

Bank of Japan buys 5.95 trillion yen of JGBs in Jan, lowest since June

TOKYO: Bank of Japan said on Thursday it bought 5.95 trillion yen ($40.6 billion) of Japanese government bonds...

Published 01 Feb, 2024 10:40am

Mutual Funds

Drop in US peers push Indian bond yields lower ahead of budget

MUMBAI: Indian government bond yields eased on Thursday, with the benchmark yield hitting an over four-month low,...

Published 01 Feb, 2024 10:33am

Forex

Indian rupee rises above 83/USD on broadly stronger Asia FX; India budget awaited

MUMBAI: The Indian rupee strengthened on Thursday tracking an uptick in most of its Asian peers, which were likely...

Published 01 Feb, 2024 10:30am

Business & Finance

Indonesia Jan inflation eases to 2.57%, in line with forecast

JAKARTA: Indonesia’s inflation rate eased to 2.57% in January, roughly in line with market forecasts and near the...

Published 01 Feb, 2024 10:19am

Forex

Asian currencies mixed after US holds interest rates steady

Asian currencies were mixed on Thursday as investors digested the US Federal Reserves’ indications that it will not...

Published 01 Feb, 2024 10:15am

Bullion Rate

Gold prices gain as traders assess hopes for sizeable Fed rate cut

Gold climbed for a fourth straight day on Thursday as investors held onto hopes the Federal Reserve would trim...

Published 01 Feb, 2024 10:09am

South Asia

Head of India’s Jharkhand state arrested amid graft probe

NEW DELHI: India’s financial crimes agency arrested the chief minister of resource-rich eastern Jharkhand state late...

Published 01 Feb, 2024 10:05am

Forex

Australia, NZ dollars back in familiar range after choppy response to Fed

SYDNEY: The Australian and New Zealand dollars were back to their familiar ranges on Thursday after a choppy...

Published 01 Feb, 2024 10:01am

Stocks

Australian shares retreat from record close as miners, banks fall

Australian shares fell on Thursday, with mining and financial stocks leading the retreat from the previous session’s...

Published 01 Feb, 2024 09:59am

Stocks

Indian shares muted ahead of interim Union budget; Paytm tanks

BENGALURU: Indian shares were muted on Thursday as investors awaited the interim Union budget, while Paytm shares...

Published 01 Feb, 2024 09:57am

Stocks

Japan’s Nikkei slips after Fed chair signals delay in rate cut

TOKYO: Japan’s Nikkei share average fell on Thursday, after US Federal Reserve chair Jerome Powell’s comments doused...

Published 01 Feb, 2024 09:56am

Forex

Dollar hovers near 7-week high as Fed cut bets shift to May

TOKYO: The dollar hovered close to the highest level in seven weeks against the euro on Thursday, after Federal...

Published 01 Feb, 2024 09:54am

ANP leader shot dead in Killa Abdullah

QUETTA: A leader of Awami National Party (ANP) was shot dead in Killa Abdullah town of Balochistan on Wednesday. ANP...

Updated 01 Feb, 2024 09:50am

Solar panel PV projects: PPIB seeks fixed interest/ mark-up rate on CDLs

ISLAMABAD: The Private Power & Infrastructure Board (PPIB) has sought fixed interest/mark-up rate on Cash...

Updated 01 Feb, 2024 09:43am

ADs allowed to make import advance payments without prior SBP approval

KARACHI: The State Bank of Pakistan (SBP) has allowed Authorised Dealers (ADs) to make import advance payments,...

Updated 01 Feb, 2024 09:42am

Budgetary requirements: Ijara Sukuk funding to help govt save Rs32bn per year

KARACHI: The federal government will save approximately Rs 32 billion annually by raising funds through the Ijara...

Updated 01 Feb, 2024 09:22am

Transmission line: Govt seeks 13-month extension of World Bank loan closing date

ISLAMABAD: The government has sought a 13-month extension in the closing date of the World Bank loan to continue the...

Updated 01 Feb, 2024 09:21am

ECP to discuss law, order situation today

ISLAMABAD: With general elections only a week away, the dramatic turn of events surrounding their fate had another...

Updated 01 Feb, 2024 09:00am

Elections 2024

Army to perform its duties under ECP guidelines

ISLAMABAD: The top military brass on Wednesday resolved to assist the Election Commission of Pakistan (ECP) in the...

Updated 01 Feb, 2024 08:59am

Petrol price raised by Rs13.55

ISLAMABAD: Interim government on Wednesday approved a substantial raise in ex-depot price of petrol, ie, by 13.55...

Updated 01 Feb, 2024 08:59am

7th population, housing census: ECC likely to approve proposal today

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet is likely to approve the Ministry of Planning...

Updated 01 Feb, 2024 08:58am

Challenges of inflation persist: MoF

ISLAMABAD: The Finance Ministry has said the challenges of inflation persist in the forms of supply chain...

Updated 01 Feb, 2024 08:58am

BR’s refresher: your morning briefing for the day

Important updates from January 31, 2024

Published 01 Feb, 2024 08:42am

BR Research

Branchless banking (BB) robust

The country’s branchless banking (BB) sector has been able to show growth over the years. Despite the challenging...

Published 01 Feb, 2024 08:15am

BR Research

Sazgar shines

A lot has changed for rickshaw assembler Sazgar Engineering (PSX: SAZEW). For the most part, the changes have been...

Published 01 Feb, 2024 08:12am

BR Research

Airlink Communication Limited

Airlink Communication Limited (PSX: AIRLINK) was incorporated in Pakistan as a private limited company in January...

Published 01 Feb, 2024 08:11am

Pakistan

Three wounded in bomb blast at PPP’s Quetta office

QUETTA: As reports of incidents of terrorism from Balochistan are making news almost daily now, two more such...

Published 01 Feb, 2024 06:06am

World

BJP set to bring contentious common civil laws in India through states

NEW DELHI: An Indian state ruled by Prime Minister Narendra Modi’s party is set to introduce contentious new ...