News Archives for Latest - 2024-02-07

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Archive - 2024-02-07

Pakistan

Women turnout below 10% could result in re-election of that constituency, says ECP

Nearly 129 million registered voters in Pakistan are set to use their voting right

Updated 08 Feb, 2024 12:22am

Travel

Dubai sees record 17mn international visitors in 2023

Dubai saw an exceptional year in terms of tourism in 2023 as it received a record-breaking 17 million international...

Updated 08 Feb, 2024 12:07am

Pakistan

Pakistan fully committed to fostering inclusive democratic process: FO

Says domestic legal remedies are available in case of any complaints in the electoral process

Updated 07 Feb, 2024 11:19pm

Stocks

Election euphoria: KSE-100 closes 345 points higher a day before polls

A day before the General Election 2024, the Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index closed 345...

Updated 07 Feb, 2024 11:18pm

Pakistan

JUI-F leader Hafiz Hamdullah survives gun attack on convoy

Jamiat Ulema-e-Islam-Fazl (JUI-F) leader Hafiz Hamdullah on Wednesday survived a gun attack in Balochistan’s Chaman...

Updated 07 Feb, 2024 11:09pm

Pakistan

One killed, child injured in blast in Karachi

One person was killed and a child sustained injuries in a blast in Gulshan e Iqbal area of Karachi, Aaj News...

Updated 07 Feb, 2024 10:53pm

Markets

PwC survey: CEOs see increased role of GenAI in next 3 years

Nearly 70% think Gen AI will necessitate development of new skills for workers' survival

Published 07 Feb, 2024 10:19pm

Currency

Rupee appreciates marginally against US dollar

Currency settles at 279.34 in inter-bank market

Updated 07 Feb, 2024 10:12pm

Pakistan

Blasts in Balochistan: at least 24 killed in Pishin and Qila Saifullah

Election Commission of Pakistan takes notice of incidents and summons immediate report

Updated 07 Feb, 2024 10:10pm

Europe

Ukraine nuclear plant ‘stable’ for now, IAEA says

KYIV: Ukraine’s frontline Zaporizhzhia nuclear plant is in a physically “stable” condition at the moment, the head...

Published 07 Feb, 2024 09:52pm

Europe

The US ‘can and will’ deliver more Ukraine aid: top advisor

BRUSSELS: The United States “can and will” deliver further military aid to Ukraine, US National Security Advisor...

Published 07 Feb, 2024 09:51pm

World

UN chief says world in ‘age of chaos’

UNITED NATIONS: UN Secretary-General Antonio Guterres warned Wednesday that the world is entering “an age of chaos”...

Published 07 Feb, 2024 09:48pm

Business & Economy

PwC survey: 42% of Pakistani CEOs see business model unviable in less than a decade

A significant number of Pakistani Chief Executive Officers (CEOs) of companies believe their current business model...

Published 07 Feb, 2024 09:16pm

Pakistan

In focus: Dr Khalid Maqbool Siddiqui’s political transition

As his party navigates through a transitioning political phase in Pakistan, it appears that Siddiqui will continue to play a role in the coming years

Published 07 Feb, 2024 09:11pm

Business & Economy

Majority CEOs somewhat optimistic over Pakistan’s economic growth in coming 12 months

A majority of Pakistani Chief Executive Officers (CEOs) of companies remain somewhat optimistic about Pakistan’s...

Updated 07 Feb, 2024 09:03pm

Perspectives

The manifesto monitor

Manifestoes are a contract between political parties and the voters, and parties are bound to deliver on it....

Published 07 Feb, 2024 09:01pm

Middle East

IMF says Qatar economy resilient, growth normalising

DUBAI: Economic growth in Qatar will continue to normalise in the near- term following a boost in 2022 from hosting...

Published 07 Feb, 2024 08:42pm

Stocks

S&P 500 hits record high with earnings, rate outlook in spotlight

Wall Street gained on Wednesday, with the benchmark S&P 500 scaling a new record high, as investors took stock...

Published 07 Feb, 2024 08:34pm

Middle East

Iran’s Raisi says US presence ‘disrupts’ Middle East security

TEHRAN: Iranian President Ebrahim Raisi on Wednesday criticised the deployment of US troops in the Middle East,...

Published 07 Feb, 2024 08:08pm

Business & Finance

US trade gap narrows in 2023 to smallest in three years

WASHINGTON: The US trade deficit narrowed in 2023 to the smallest in three years, according to government data...

Published 07 Feb, 2024 08:04pm

Stocks

US stocks rise on positive earnings reports

NEW YORK: Wall Street opened solidly in the green on Wednesday as optimism surrounding better than expected...

Published 07 Feb, 2024 08:02pm

Stocks

Most Gulf markets gain on optimism over de-escalation in regional tensions

Most stock markets in the Gulf reversed early losses to end higher on Wednesday, helped by optimism for a potential...

Published 07 Feb, 2024 07:53pm

Pakistan

In focus: Aimal Wali Khan and ANP’s return?

ANP was voted out of power in the 2013 general elections and has since tried to make a comeback without success

Published 07 Feb, 2024 06:53pm

Stocks

European stock markets drop, Shanghai extends gains

LONDON: European stock markets dropped on Wednesday as traders reacted to more mixed earnings and weak German data,...

Updated 07 Feb, 2024 06:15pm

Stocks

Sri Lankan shares end flat as communication services weigh

BENGALURU: Sri Lankan shares ended largely unchanged on Wednesday after rising for five straight sessions, as a...

Published 07 Feb, 2024 06:07pm

Energy

Oil up on lower-than-expected rise in US crude stockpiles

LONDON: Oil prices rose for a third day on Wednesday after U.S. crude inventories grew less than expected and a cut...

Updated 07 Feb, 2024 05:59pm

Companies

Faysal Bank sees 77% growth in profit in 2023

Faysal Bank declared a consolidated profit after tax (PAT) of Rs20.25 billion for the year 2023, nearly 77% higher...

Published 07 Feb, 2024 05:43pm

Pakistan

2018-2024: what’s different in General Elections this time around

As Pakistan is set to hold its 12th general elections on February 8 (Thursday), one cannot help but feel that this...

Published 07 Feb, 2024 05:50pm

Commodities

Copper retreats on Chinese demand uncertainty

LONDON: Copper prices fell on Wednesday as an economic and demand slowdown in China pressured the market ahead of a...

Published 07 Feb, 2024 05:50pm

Sports

Bumrah becomes first Indian pacer to top ICC rankings

NEW DELHI: India’s pace spearhead Jasprit Bumrah on Wednesday rose to the top of the International Cricket Council’s...

Published 07 Feb, 2024 05:31pm

Perspectives

Pakistan didn’t default, but its citizens certainly did

Floods came and destroyed our homes — there was little we could do, we were told. We managed to endure, and tried to...

Published 07 Feb, 2024 05:28pm

Sports

Messi starts on bench in Tokyo after Hong Kong controversy

TOKYO: Lionel Messi started on the bench for Inter Miami’s pre-season friendly in Tokyo Wednesday, days after his...

Published 07 Feb, 2024 05:28pm

Asia

Russia admits ‘problems’ with China payments

MOSCOW: The Kremlin on Wednesday acknowledged that Russian companies were having problems with Chinese banks after...

Published 07 Feb, 2024 05:24pm

Middle East

Hamas proposes 135-day Gaza truce with complete Israeli withdrawal

DOHA/TEL AVIV/GAZA: Hamas has proposed a ceasefire plan that would quiet the guns in Gaza for four-and-a-half...

Published 07 Feb, 2024 05:16pm

Movies & Music

Networks unite to create new sports streaming platform

MIAMI: ESPN, Fox and Warner Bros Discovery have reached an agreement on a new streaming platform for live sports...

Published 07 Feb, 2024 05:09pm

Europe

Hamas attack on Israel was ‘biggest anti-Semitic massacre of our century’: Macron

PARIS: French President Emmanuel Macron on Wednesday described the October 7 attack by Hamas on Israel as the...

Published 07 Feb, 2024 05:09pm

Energy

Mari acquires working interest in Zarghun South and Nareli Block

Mari Petroleum Company Limited (MARI), one of Pakistan’s largest E&P companies, has acquired a working interest...

Updated 07 Feb, 2024 05:01pm

Energy

ITFC signs deal to fund $2.1bn of Bangladesh oil, gas imports

DHAKA: The International Islamic Trade Finance Corporation (ITFC) on Wednesday signed a $2.1 billion financing plan...

Published 07 Feb, 2024 04:59pm

Companies

Alibaba misses revenue estimates; boosts buyback by $25bn

SHANGHAI: China’s Alibaba Group Holding on Wednesday missed analysts’ estimates for third-quarter revenue, hurt by...

Published 07 Feb, 2024 04:51pm

Life & Style

Pakistan election 2024: artwork on trucks dwindles as posters take over

PESHAWAR, Pakistan: Colourful trucks with paintings of political leaders that once dotted Pakistan’s roads and...

Published 07 Feb, 2024 04:44pm

Stocks

Indian shares erase gains as IT drags; central bank policy in focus

BENGALURU: Indian shares surrendered the morning’s gains at close on Wednesday, dragged by IT stocks after global...

Published 07 Feb, 2024 04:46pm

Bullion Rate

Gold price per tola increases Rs400 in Pakistan

Gold prices increased in Pakistan on Wednesday in line with increase in the international rate. The yellow metal was...

Published 07 Feb, 2024 04:45pm

Commodities

Palm oil rebounds to close higher ahead of output data

KUALA LUMPUR: Malaysian palm oil futures reversed early losses to close higher for a third consecutive session on...

Published 07 Feb, 2024 04:42pm

Europe

Harry jets in to visit King Charles after cancer diagnosis

LONDON: Charles III’s estranged son Prince Harry arrived in London on Tuesday, heading for his father’s side less...

Updated 07 Feb, 2024 04:14pm

Movies & Music

‘The great contraction’ hits Hollywood

When stars returned to the red carpet in early January after two bruising strikes to celebrate the success of...

Published 07 Feb, 2024 01:56pm

Middle East

Gaza mediators search for ‘final formula’ for Israel, Hamas ceasefire

DOHA/GAZA: US, Qatari and Egyptian mediators prepared a diplomatic push to bridge differences between Israel and...

Updated 07 Feb, 2024 02:09pm

Middle East

Saudi Arabia says there will be no diplomatic relations with Israel without an independent Palestinian state

CAIRO: Saudi Arabia has told the US its position stands that there will be no diplomatic relations with Israel...

Updated 07 Feb, 2024 02:01pm

Stocks

FTSE 100 flat; precious metal miners offset gains in homebuilders

UK shares were subdued on Wednesday, as gains in homebuilder stocks over increase in house prices were offset by a...

Published 07 Feb, 2024 01:45pm

Energy

TotalEnergies reports record annual profit at $21.4bn

PARIS: French group TotalEnergies reported on Wednesday the highest profit of its history for 2023, underpinned by...

Published 07 Feb, 2024 01:03pm

South Asia

Death toll in Indian firework factory rises to 11

NEW DELHI: The death toll in a firework factory explosion in India has risen to 11 and the two owners have been...

Published 07 Feb, 2024 01:02pm

Sports

Mauricio Pochettino won’t lose his hair over Chelsea crisis

LONDON: Mauricio Pochettino insists he won’t lose his hair because of Chelsea’s dismal form as the under-fire Blues...

Published 07 Feb, 2024 12:22pm

Middle East

Five dead including civilians in Israeli strikes on Syria: monitor

BEIRUT: Israeli strikes on Syria’s Homs killed five people including three civilians Wednesday, a war monitor said,...

Published 07 Feb, 2024 12:17pm

Pakistan

In focus: Saad Rizvi and TLP’s surprise?

Saad Hussain Rizvi, the son of the late Tehreek-e-Labbaik Pakistan (TLP) founder Khadim Hussain Rizvi, assumed...

Published 07 Feb, 2024 12:16pm

Stocks

Hong Kong stocks extend rally at open

HONG KONG: Hong Kong shares rallied at the open Wednesday, building on the previous day’s surge on optimism China...

Published 07 Feb, 2024 12:13pm

World

Chile ex-president Pinera dies in helicopter crash, aged 74

SANTIAGO: Chile’s former president Sebastian Pinera, a billionaire tycoon who twice held the South American nation’s...

Published 07 Feb, 2024 12:11pm

Europe

Emmanuel Macron hosts tribute to French victims of Hamas attack on Israel

PARIS: President Emmanuel Macron on Wednesday is to hold a ceremony paying tribute to the French victims of the...

Published 07 Feb, 2024 12:05pm

Sports

New Zealand hammer South Africa by 281 runs in first Test

MOUNT MAUNGANUI: Black Caps seamer Kyle Jamieson claimed four wickets on Wednesday to drive New Zealand to a 281-run...

Published 07 Feb, 2024 12:01pm

Europe

Missile strikes on Ukraine kill one, knocks out Kyiv power

KYIV: One man was killed in Ukraine’s southern city of Mykolaiv and two were injured in Kyiv with part of the...

Published 07 Feb, 2024 11:54am

Pakistan

Explained: how is the parliament in Pakistan formed?

The Parliament of Pakistan, per the Constitution of 1973, follows a bicameral system. As outlined by Article 50 of...

Published 07 Feb, 2024 11:36am

Business & Finance

Moody’s cuts NYCB ratings to junk, warns of more downgrades

Rating agency Moody’s downgraded New York Community Bancorp’s all long-term and some short-term issuer ratings to...

Published 07 Feb, 2024 11:32am

Pakistan

PTI says a reign of terror unleashed against it

ISLAMABAD: The Pakistan Tehreek-e-Insaf (PTI) on Tuesday alleged that the people at the helm of affairs have...

Updated 07 Feb, 2024 11:31am

Elections 2024

ECP to announce ‘unofficial’ results on 9th

ISLAMABAD: The Election Commission of Pakistan (ECP) will announce unofficial results of all 859 constituencies of...

Updated 07 Feb, 2024 11:30am

Commodities

Soybeans snap two-session rally; market eyes crop estimates

SINGAPORE: Chicago soybean futures dipped on Wednesday as prices fell for the first time in three sessions, with the...

Published 07 Feb, 2024 11:29am

Sports

Steph Catley replaces Kerr as Australia skipper for Olympic qualifiers

SYDNEY: Arsenal left back Steph Catley will captain Australia’s Matildas in the absence of injured regular skipper...

Published 07 Feb, 2024 11:27am

Commodities

Palm oil opens lower on weaker Dalian contracts

KUALA LUMPUR: Malaysian palm oil futures opened lower on Wednesday, weighed down by weakness in Dalian vegetable...

Published 07 Feb, 2024 11:16am

Pakistan

In focus: Jahangir Tareen, a major player in the making?

Jahangir Khan Tareen was born in Comilla on July 4, 1953, into a prominent Pashtun family. He entered politics after...

Published 07 Feb, 2024 11:09am

Technology

Mahira Khan, Sparx smartphone’s alliance: launch of the Sparx smartphones Edge Series

Sparx smartphones, powered by Deploy Group, have launched their latest marvel, the Sparx Edge Series. Leading the...

Published 07 Feb, 2024 11:00am

Asia

Landslide in southern Philippines buries two buses, injures 11

MANILA: A landslide triggered by heavy rains in a southern Philippine province buried two buses, injuring at least...

Published 07 Feb, 2024 10:55am

Forex

China’s yuan holds steady on signals to support slumping stock market

SHANGHAI: China’s yuan held steady on Wednesday against the dollar amid signals authorities were strengthening their...

Published 07 Feb, 2024 10:52am

Forex

Australia, NZ dollars extend gains as kiwi jobs data dims rate cuts hopes

SYDNEY: The Australian and New Zealand dollars extended gains on Wednesday, buoyed by hopes of more China market...

Published 07 Feb, 2024 10:50am

Business & Finance

Malaysia’s December industrial production down 0.1%, below forecast

KUALA LUMPUR: Malaysia’s industrial production in December fell 0.1% from a year earlier, government data showed on...

Published 07 Feb, 2024 10:48am

Real Estate

The people behind the indebted developer’s overhaul: China Evergrande

SYDNEY/HONG KONG: Restructuring experts from Alvarez & Marsal will rely on China connections and a track record...

Published 07 Feb, 2024 10:46am

Sports

Ricky Ponting takes over as Washington Freedom head coach in US

Former Australia captain Ricky Ponting has been appointed head coach of Washington Freedom ahead of the second...

Published 07 Feb, 2024 10:43am

Asia

South Korea, Qatar defence ministers agree to boost military ties

SEOUL: The defence ministers of South Korea and Qatar have agreed to expand joint military training and strengthen...

Published 07 Feb, 2024 10:42am

Companies

Toyota shares hit record high after earnings upgrade, domestic rivals in focus

TOKYO: Toyota Motor shares hit a record high on Wednesday after its earnings upgrade the prior day, with rivals...

Published 07 Feb, 2024 10:28am

Forex

Indian rupee ticks higher, aided by slip in US bond yields

MUMBAI: The Indian rupee strengthened on Wednesday, aided by a drop in US bond yields which also helped lift most...

Published 07 Feb, 2024 10:26am

Mutual Funds

India bond yields dip on bullish momentum in run-up to RBI policy decision

MUMBAI: Indian government bond yields drifted lower in early trades on Wednesday, as sentiment remained positive a...

Published 07 Feb, 2024 10:22am

Asia

Cambodia PM thanks Thailand for preventing ‘interference’ in his country’s affairs

BANGKOK: Cambodia’s Prime Minister Hun Manet on Wednesday expressed gratitude to his Thai counterpart for not...

Published 07 Feb, 2024 10:19am

Stocks

Asia stocks gain, much riding on China stability efforts

SYDNEY: Asian stocks firmed on Wednesday as investors waited to see if Beijing’s increasingly frantic efforts to...

Published 07 Feb, 2024 10:12am

Bullion Rate

Gold prices flat as traders await remarks from Fed officials

Gold prices struggled for a clear direction on Wednesday, as traders awaited comments from a slew of Federal Reserve...

Published 07 Feb, 2024 10:07am

Stocks

Australian shares recoup losses on miners, energy boost

Australian shares rose on Wednesday to recover from two straight sessions of losses, powered by heavyweight miners...

Published 07 Feb, 2024 10:04am

Stocks

Indian shares open higher tracking Asian peers

BENGALURU: Indian shares opened higher on Wednesday tracking a rise in their Asian peers and led by financials,...

Published 07 Feb, 2024 10:02am

Stocks

Tech stocks drag Japan’s Nikkei; Toyota and Mitsubishi jump on strong outlook

TOKYO: Japan’s Nikkei share average traded lower on Wednesday, dragged by heavyweight technology stocks, although...

Published 07 Feb, 2024 10:00am

Forex

Dollar on defensive after pullback from nearly 3-month peak

TOKYO: The dollar remained under pressure on Wednesday after retreating from a nearly three-month high against the...

Published 07 Feb, 2024 09:57am

Less than 48 hours before voting day: PIA restructuring, FWBL sell-off plans approved

Cabinet directs the Cabinet Sub-Committee on Privatisation to deal with the matters related to the PIA financial settlement of government-owned enterprises

Updated 07 Feb, 2024 09:38am

‘Sui ML’ between B’stan govt and PPL to be renewed

ISLAMABAD: The federal government has decided to renew Sui Mining Lease (Sui ML) between Government of Balochistan...

Updated 07 Feb, 2024 09:36am

Sindh, Balochistan: MoC seeks MoF’s support for recovery of urea subsidy share

ISLAMABAD: The Commerce Ministry has sought the Finance Ministry’s support to recover 50pc share of cost of imported...

Updated 07 Feb, 2024 09:35am

Elections 2024

648,000 security personnel deployed

ISLAMABAD: The government has deployed over 648,000 security personnel nationwide to ensure the safety of voters, as...

Updated 07 Feb, 2024 09:34am

Temporary import, export of vehicles: MoC and FBR lock horns over former’s proposal

ISLAMABAD: The Commerce Ministry and the Federal Board of Revenue (FBR) have reportedly locked horns over the...

Updated 07 Feb, 2024 09:34am

Elections 2024

Electioneering ends

ISLAMABAD: At the stroke of midnight – 24 hours before Election Day – the high-pitch election campaign by all...

Updated 07 Feb, 2024 09:33am

More stable govt can attract external financing: S&P

ISLAMABAD: A more stable political environment in Pakistan is likely an important precondition to repairing the...

Updated 07 Feb, 2024 09:32am

BR Research

Power sector: The dismal state of industry

Pakistan keeps going back to the donors to help identify, plan, and fund power sector reforms. What it gets usually...

Published 07 Feb, 2024 09:04am

BR Research

POL – weak currency driving growth

Pakistan Oilfields Limited (PSX: POL) announced a 22 percent year-on-year increase in its earnings for the first...

Published 07 Feb, 2024 09:00am

PM tells COG delegation: Conducive environment created

ISLAMABAD: A delegation of the Commonwealth Observer Group (COG), led by former president of Nigeria, Goodluck Ebele...

Updated 07 Feb, 2024 08:59am

CCoE approves amendments to refineries policy

ISLAMABAD: The Cabinet Committee on Energy (CCoE) has approved amendments to Refineries Policy 2023 to resolve...

Updated 07 Feb, 2024 08:59am

Ogra allows second gas price hike of year

ISLAMABAD: The Oil and Gas Regularly Authority (Ogra) allowed a raise in the gas tariff of Sui Northern Gas...

Updated 07 Feb, 2024 08:58am

BR Research

International Steels Limited

International Steels Limited (PSX: ISL) was incorporated in Pakistan as a public unlisted company in 2007. The...

Published 07 Feb, 2024 08:56am

BR’s refresher: your morning briefing for the day

Important updates from February 6, 2024

Published 07 Feb, 2024 08:45am

Editorials

Rain turmoil in Karachi

EDITORIAL: For the umpteenth time, the denizens of Karachi had to endure misery and extreme discomfort on February...

Updated 07 Feb, 2024 06:16am

Opinion

Multigenerational challenge—clash of the 4 titans

The infamous four distinct eras; B, X, Y and Z had too many styles, multi mood swings, egos at work, clashing views,...

Updated 07 Feb, 2024 06:15am

Opinion

‘Indo-Pacific’ strategy: observations

With the recent news of the six US senior trade officials intending to resign from their positions mainly due to the...

Updated 07 Feb, 2024 06:13am

Editorials

Inflationary spiral remains a problem

EDITORIAL: Consumer Price Index (CPI) for January 2024 declined by 1.4 percentage points against the previous month...

Updated 07 Feb, 2024 06:12am

Opinion

Partly Facetious: Zardari has bought a few more carrots?

“I guess it’s a family affair.” “What? The distribution of who gets which ministry?” “Well that’s ...

Updated 07 Feb, 2024 06:11am

Pakistan

The Weather

KARACHI: The weather report on Tuesday (February 06, 2024) and the forecast for Wednesday (February 07, 2024)...