News Archives for Latest - 2024-02-16

World

Biden says Putin responsible for Navalny’s death

WASHINGTON: U.S. President Joe Biden on Friday said he was “not surprised” but “outraged” after the reported death...

Published 16 Feb, 2024 11:06pm

World

Hamas says Gaza hostages ‘struggling to stay alive’

GAZA STRIP: Hamas’s armed wing said on Friday that hostages in Gaza were “struggling to stay alive” as conditions...

Published 16 Feb, 2024 10:56pm

Companies

Engro Fertilizers’ earnings hit Rs26.2bn in 2023, up 64% YoY

Engro Fertilizers Limited (EFERT), a wholly owned subsidiary of Engro Corporation Limited, posted its highest Profit...

Updated 16 Feb, 2024 10:51pm

Pakistan

PTI to sit on opposition benches in Centre, Punjab: Barrister Saif

Development comes a day after PTI nominated Omar Ayub’s name for prime minister's slot and Mian Aslam Iqbal for Punjab's chief minister

Updated 16 Feb, 2024 10:50pm

Pakistan

GDA stages sit-in against ‘election rigging’ at Hyderabad Bypass

The Grand Democratic Alliance (GDA) on Friday staged a grand protest sit-in against alleged rigging in election 2024...

Updated 16 Feb, 2024 10:38pm

Pakistan

US concerned about reports of intimidation, voter suppression in Pakistan election, White House says

WASHINGTON: The United States is concerned about reports of intimidation and voter suppression in Pakistan’s...

Updated 16 Feb, 2024 10:38pm

Stocks

PSMC lists terms & conditions for purchase of shares by Suzuki Motor Corp

Pak Suzuki Motor Company Limited (PSMC) on Friday issued a list of procedures, terms and conditions for the purchase...

Updated 16 Feb, 2024 10:21pm

Bullion Rate

Gold price per tola increases Rs1,300 in Pakistan

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

Updated 16 Feb, 2024 10:20pm

Stocks

KSE-100 suffers another fall, plunges nearly 1,150 points

Political uncertainty and wrangling take toll on sentiment, investors resort to trimming positions

Updated 16 Feb, 2024 10:09pm

Stocks

Wall St slips after hot producer prices data dents early rate-cut hopes

Wall Street’s main indexes ticked lower on Friday after a hotter-than-expected producer prices report pushed back...

Published 16 Feb, 2024 10:00pm

Middle East

Netanyahu rejects ‘international pressure’ for Palestinian state

JERUSALEM: Israel will not be pressured into accepting a Palestinian state, Prime Minister Benjamin Netanyahu said...

Updated 16 Feb, 2024 09:55pm

Pakistan

‘Wholesale assault on democracy’: PTI gives presentation on alleged rigging

Says only 92 have been given to them out of 177 seats

Updated 16 Feb, 2024 09:52pm

Markets

‘Cars will become more expensive’: automakers decry hike in sales tax

Automakers on Friday lamented the recent government decision to increase sales tax to 25% for the sector, saying the...

Published 16 Feb, 2024 09:51pm

Technology

Management buyout: Saad Niazi takes charge as acting CEO of Keenu

Keenu, a leading player in digital payment services and an Electronic Money Institution (EMI), has announced...

Updated 16 Feb, 2024 09:32pm

Forex

Rupee gains marginally against US dollar

Currency settles at 279.36 in inter-bank market

Updated 16 Feb, 2024 08:36pm

Money & Banking

India’s forex reserves come off one-month high

MUMBAI: India’s foreign exchange reserves snapped a two-week gaining streak and stood at $617.23 billion as of Feb....

Published 16 Feb, 2024 07:32pm

Energy

Oil slides 1% as weaker IEA demand outlook offsets rate cut hopes

LONDON: Oil fell by about 1% on Friday as slowing demand forecast by the International Energy Agency (IEA) offset...

Updated 16 Feb, 2024 07:13pm

Middle East

Three killed, four wounded in shooting attack in southern Israel, medics and police say

JERUSALEM: Two people were killed and four were wounded in what Israeli police said was a shooting attack near a...

Published 16 Feb, 2024 07:06pm

Commodities

Copper on track to biggest weekly gain in three months

LONDON: Copper prices were on track on Friday to post their biggest weekly gain in three months, helped by falling...

Published 16 Feb, 2024 06:48pm

Stocks

Sri Lanka shares end higher as financials, industrials rise

CSE All-Share index settled 0.17% higher at 10,586.11

Published 16 Feb, 2024 06:45pm

Stocks

UAE markets gain on rate cut bets

Stock exchanges in United Arab Emirates rose on Friday after a fall in U.S. retail sales revived the chance of a...

Published 16 Feb, 2024 06:40pm

Europe

Zelensky signs ‘historic’ security pact with Germany

BERLIN: Ukraine’s President Volodymyr Zelensky signed a security deal with Germany on Friday in Berlin, hailed by...

Published 16 Feb, 2024 05:34pm

Companies

Swiss Re sees net profits soar

ZURICH: Swiss reinsurance giant Swiss Re said Friday its net profits jumped more than six fold last year due to...

Published 16 Feb, 2024 05:22pm

Commodities

Asia gold: India premiums hit 4-month highs, jewellers stock up for weddings

Physical gold premiums in India rose to more than four-month highs this week as demand picked up, with jewellers...

Published 16 Feb, 2024 05:13pm

Europe

Jailed Russian opposition leader Navalny is dead: prison service

MOSCOW: Jailed Russian opposition leader Alexei Navalny is dead, the prison service of the Yamalo-Nenets region...

Published 16 Feb, 2024 04:58pm

Energy

Global LNG: Asia spot prices slip amid healthy stocks, Lunar New Year holiday

SINGAPORE: Asian spot liquefied natural gas (LNG) prices slipped to a near three-year low this week, as inventories...

Published 16 Feb, 2024 04:50pm

Stocks

Indian shares log weekly gain powered by banks, autos

BENGALURU: Indian shares advanced on Friday and logged weekly gains, led by a surge in the auto sector on Mahindra...

Published 16 Feb, 2024 04:46pm

Commodities

Palm posts weekly loss on falling exports, ignore lower stocks

MUMBAI: Malaysian palm oil futures fell on Friday, ending the week with nearly 2% losses as mounting concerns over...

Published 16 Feb, 2024 04:42pm

Business & Finance

UK bank Natwest shakes off CEO turmoil as profits jump

LONDON: British bank NatWest on Friday said net profit jumped nearly a third in 2023 on higher interest rates,...

Published 16 Feb, 2024 03:45pm

Sports

India’s Ashwin reaches 500 Test wickets to join exclusive club

RAJKOT: India spinner Ravichandran Ashwin claimed his 500th Test wicket on day two of the third match against...

Published 16 Feb, 2024 03:40pm

Luxury

London Fashion Week celebrates 40 years despite economic challenges

LONDON: Creators, influencers, buyers and celebrities will gather in London on Friday to celebrate the 40th...

Published 16 Feb, 2024 03:31pm

Sports

England 31 for no loss in reply to India’s 445

RAJKOT: England made 31 for no loss in their cautious reply to India’s first innings total of 445 on day two of the...

Updated 16 Feb, 2024 02:53pm

Stocks

London stocks rise on miners’ boost, set for weekly gains

UK shares advanced on Friday, driven by base metal miners, with the indexes headed for weekly gains as investors...

Published 16 Feb, 2024 02:47pm

Stocks

European stock markets rise at open

LONDON: Europe’s main stock markets rose solidly at the start of trading Friday following similar performances in...

Published 16 Feb, 2024 01:48pm

Middle East

Egypt setting up area at Gaza border which could be used to shelter Palestinians, sources say

Egypt is preparing an area at the Gaza border which could accommodate Palestinians in case an Israeli offensive into...

Published 16 Feb, 2024 01:44pm

Movies & Music

Politics and glamour mark Berlin Film Festival’s opening night

BERLIN: Even the red carpet at the Berlin Film Festival’s opening ceremony was not free of politics on Thursday...

Published 16 Feb, 2024 01:36pm

Pakistan

SC to hear individual’s petition seeking to declare general elections void

Hearing to take place on Monday (February 19)

Updated 16 Feb, 2024 01:33pm

Movies & Music

Star-studded ‘Dune: Part Two’ rolls into London for world premiere

LONDON: The desert planet Arrakis came to London’s Leicester Square on Thursday as the star-studded ‘Dune: Part...

Published 16 Feb, 2024 01:00pm

Business & Finance

India’s small exporters reel as Red Sea crisis helps rivals nab business

NEW DELHI: Atul Jhunjhunwala, an exporter in the Indian eastern city of Kolkata, is tearing his hair out, having...

Published 16 Feb, 2024 12:40pm

Mutual Funds

Japan’s 10-year bond yield edges up on sell-off amid equities rally

TOKYO: Japan’s benchmark 10-year government bond yield edged up on Friday, as a strong rally of domestic equities...

Published 16 Feb, 2024 12:34pm

Sports

Naomi Osaka, Krejcikova pull out of Dubai Championships

Four-times Grand Slam champion Naomi Osaka and holder Barbora Krejcikova have pulled out of the Dubai Tennis...

Published 16 Feb, 2024 12:16pm

Forex

Sterling blips up after UK retail sales top expectations

LONDON: The pound bounced on Friday after data showed UK retail sales grew at their fastest pace in nearly three...

Published 16 Feb, 2024 12:14pm

Stocks

Asian markets rally after Wall Street highs

HONG KONG: Asian markets rose Friday, supported by Wall Street and eurozone records, as traders shrugged off weak US...

Published 16 Feb, 2024 12:07pm

Sports

Messi’s Inter Miami and Newell’s Old Boys draw 1-1 in friendly

MIAMI: Inter Miami superstar Lionel Messi returned to the starting lineup for the MLS club on Thursday in a 1-1 home...

Published 16 Feb, 2024 12:04pm

Sports

New Zealand win South Africa Test series for first time

HAMILTON: New Zealand won a Test series against South Africa for the first time with Kane Williamson hitting an...

Published 16 Feb, 2024 11:47am

South Asia

India’s opposition says funds frozen ahead of election

NEW DELHI: India’s main opposition Congress party said Friday that its bank accounts had been frozen by the tax...

Published 16 Feb, 2024 11:43am

Europe

Ukraine general says ‘fierce’ fighting inside Avdiivka

KYIV: Ukraine said Friday there was fierce fighting in the beleaguered frontline city of Avdiivka and that it was...

Published 16 Feb, 2024 11:40am

Sports

Jurgen Klinsmann the coach has never scaled the heights he did as a player

HONG KONG: Jurgen Klinsmann was one of the greatest strikers of his era, but the German’s managerial career has...

Published 16 Feb, 2024 11:38am

Sports

India get five-run penalty for Ashwin mid-pitch running

RAJKOT: India were penalised five runs after the umpire charged batsman Ravichandran Ashwin for running in the...

Published 16 Feb, 2024 11:35am

Sports

Tiger Woods opens Genesis with 1-over 72 in return to action

Tiger Woods ended an uneven day with an eventful bogey to shoot a 1-over-par 72 at the first round of the Genesis...

Published 16 Feb, 2024 11:25am

Forex

Australia, NZ dollars try to steady; markets pare RBNZ rate hike risk

SYDNEY: The Australian and New Zealand dollars were looking on Friday likely to end a tough week on a steadier note...

Published 16 Feb, 2024 11:23am

Stocks

Miners, banks lift Australia shares; insurers IAG and QBE fall on profit miss

Australian shares jumped as much as 1% to touch a more than one-week high on Friday, led by mining and banking...

Published 16 Feb, 2024 11:21am

USA

Antony Blinken says Gaza hostage deal still possible but ‘very hard’ issues remain

WASHINGTON: US Secretary of State Antony Blinken said on Thursday that a deal on the release of hostages held by...

Published 16 Feb, 2024 11:18am

USA

Joe Biden again tells Netanyahu that Rafah civilians must be protected

US President Joe Biden on Thursday again told Israel’s Prime Minister Benjamin Netanyahu that he should not proced...

Published 16 Feb, 2024 11:07am

Asia

Japan finance minister says a weak yen has merits and demerits

TOKYO: Japanese Finance Minister Shunichi Suzuki said on Friday that a weak yen has its merits and demerits although...

Published 16 Feb, 2024 10:57am

Bullion Rate

Gold heads for second weekly dip as traders reassess US rate bets

Gold prices were set for their second straight weekly drop on Friday after surprisingly hot US consumer prices led...

Published 16 Feb, 2024 10:53am

Commodities

Palm extends losses on weak Malaysian exports

MUMBAI: Malaysian palm oil futures extended losses on Friday because of a sharp drop in exports from the world’s...

Published 16 Feb, 2024 10:50am

Stocks

Nikkei races to fresh 34-year high, all-time peak in sight

TOKYO: Japan’s benchmark Nikkei got off to a roaring start on Friday, hitting 34-year highs and was on the cusp of...

Published 16 Feb, 2024 10:48am

Business & Finance

BOJ’s Ueda keeps pledge to review stimulus when price goal met

TOKYO: Bank of Japan Governor Kazuo Ueda said on Friday the central bank will examine whether to maintain its...

Published 16 Feb, 2024 10:45am

Stocks

Indian shares open higher tracking Asian peers

BENGALURU: Indian shares opened higher on Friday, after rising in the last three sessions, aided by sustained...

Published 16 Feb, 2024 10:43am

South Asia

Indian farmers to postpone protest march to Delhi as talks with govt continue

AMBALA: Indian farmers demanding higher prices for their crops will postpone a planned protest march to New Delhi...

Published 16 Feb, 2024 10:38am

Business & Finance

No change to Japan 2023 growth forecast despite weak GDP: IMF

WASHINGTON: The International Monetary Fund said on Thursday its 2023 economic growth forecast for Japan remained...

Published 16 Feb, 2024 10:35am

Business & Finance

Malaysia’s economy grows 3% in Q4, below forecast

KUALA LUMPUR: Malaysia’s economy in the fourth quarter of 2023 grew 3% from a year earlier, slower than the previous...

Published 16 Feb, 2024 10:33am

Business & Finance

Malaysia’s current account surplus narrows to 253mn ringgit in Q4

KUALA LUMPUR: Malaysia’s current account surplus narrowed to 253.4 million ringgit ($53.05 million) in the fourth...

Published 16 Feb, 2024 10:27am

Companies

Nike plans to slash over 1,600 jobs in cost-cutting drive

Sportswear giant Nike plans to reduce its workforce by about 2%, or more than 1,600 jobs, in a cost-cutting move,...

Published 16 Feb, 2024 10:24am

Commodities

Wheat set for biggest weekly loss since Sept as US inventories rise

CANBERRA: Chicago wheat futures dropped on Friday and headed for their biggest weekly fall since last September...

Published 16 Feb, 2024 10:20am

Asia

Thailand plans to waive visas for more countries

BANGKOK: Thailand’s Prime Minister Srettha Thavisin said on Friday the government plans to offer visa-free travel to...

Published 16 Feb, 2024 10:17am

Europe

Britain’s Labour Party deals double blow to PM Sunak’s Conservatives

LONDON: Britain’s opposition Labour Party won contests for two new lawmakers on Friday, dealing a crushing blow to...

Published 16 Feb, 2024 10:12am

Mutual Funds

India bond yields dip marginally, focus stays on debt auction

MUMBAI: Indian government bond yields eased in the early session on Friday as US Treasury yields consolidated, with...

Published 16 Feb, 2024 10:07am

Cabinet ratifies ECC decision on gas tariffs

Caretaker Prime Minister Anwaar-ul-Haq Kakar chairs federal cabinet meeting

Updated 16 Feb, 2024 10:06am

Commodities

Copper scales 1-week peak as US retail sales data revives rate-cut hopes

Copper prices rose to a one-week high on Friday as weaker-than-expected US retail sales data revived hopes for a...

Published 16 Feb, 2024 10:05am

Immovable properties: FBR has no written SOP to determine fair market values

ISLAMABAD: The Federal Board of Revenue (FBR) has no written standing operating procedure (SOP) for guidance of the...

Updated 16 Feb, 2024 10:03am

Aramco refinery likely to be included in CPEC framework

ISLAMABAD: The government is likely to include $10 billion Saudi Aramco refinery project in framework of China...

Updated 16 Feb, 2024 10:02am

Ogra cuts rates of imported RLNG

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) on Thursday notified a decline in the rates of imported RLNG...

Updated 16 Feb, 2024 10:01am

Forex

Indian rupee inches up, dollar demand from oil companies likely to cap gains

MUMBAI: The Indian rupee ticked up on Friday aided by a pullback in the US dollar after economic data came in weaker...

Published 16 Feb, 2024 10:01am

Stocks

Hong Kong stocks rise, China markets reopen next week after Lunar New Year break

Hong Kong stocks rose on Friday, on track for the third straight session of gain, with investors accumulating shares...

Published 16 Feb, 2024 09:59am

Forex

Dollar steady as traders weigh economic data, yen fragile

SINGAPORE: The dollar was steady on Friday, on track for its fifth straight weekly gain, as investors take stock of...

Published 16 Feb, 2024 09:57am

PPIB urges SBP to clear $789m ‘dues’ of IPPs

ISLAMABAD: Private Power & Infrastructure Board (PPIB) has urged State Bank of Pakistan (SBP) to clear “pending...

Updated 16 Feb, 2024 09:21am

Business & Finance

Mining and mineral sector: 2 mergers approved by CCP

ISLAMABAD: The Competition Commission of Pakistan (CCP) has granted approval to two mergers in the mining of copper...

Updated 16 Feb, 2024 09:21am

Steel industry: PM orders FBR to resolve issues on priority basis

ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar has directed concerned authorities and the Federal Board of...

Updated 16 Feb, 2024 09:20am

BR Research

Circular Debt – a tough row to hoe

The circular debt continues to be a growing challenge, literally, and it’s the real pain in the energy sector. The...

Published 16 Feb, 2024 08:57am

BR Research

PSO in 1HFY24

Pakistan State Oil Company Limited (PSX: PSO) announced its financial performance for 1HFY24 yesterday where it...

Published 16 Feb, 2024 08:54am

BR Research

Descon Oxychem Limited

Descon Oxychem Limited (PSX: DOL) was incorporated in Pakistan as a private limited company in 2004 and then changed...

Published 16 Feb, 2024 08:51am

FBR delays issuance of three key notifications

ISLAMABAD: The Federal Board of Revenue (FBR) has delayed issuance of three key notifications dealing with the...

Updated 16 Feb, 2024 08:36am

Unprotected gas consumers to bear the brunt

ISLAMABAD: Protected consumers face a gradual increase in tariff slabs (Rs. 80-100/MMBtu) with a cross subsidy of Rs...

Updated 16 Feb, 2024 08:36am

Deregulation of non-essential drugs on the cards

ISLAMABAD: The federal cabinet has decided to deregulate non-essential drugs since their pricing had been warped by...

Updated 16 Feb, 2024 08:35am

Pakistan

PTI names candidates for PM’s, CM’s slots

ISLAMABAD: Former chairman of Pakistan Tehreek-e-Insaf (PTI) Barrister Gohar Ali Khan on Thursday said that founding...

Updated 16 Feb, 2024 08:35am

BR’s refresher: your morning briefing for the day

Important updates from February 15, 2024

Published 16 Feb, 2024 08:31am

Opinion

Completing the petroleum value chain

Petroleum products, including crude oil, have the highest share in Pakistan’s external trade. Approximately 20% of...