News Archives for Latest - 2024-02-19

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Archive - 2024-02-19

Perspectives

Key takeaways from the 15th edition of KLF

The latest edition of the Karachi Literature Festival (KLF) wrapped on Sunday, bringing together speakers and...

Updated 19 Feb, 2024 11:53pm

Pakistan

Successful PTI-backed independents to join Sunni Ittehad Council

The Pakistan Tehreek-e-Insaf (PTI) announced on Monday that its party-backed independents who have won seats in...

Updated 19 Feb, 2024 10:58pm

Pakistan

X users continue to face disruption in Pakistan for 3rd consecutive day

Interim government keeps mum on unprecedented blockage of the social networking platform

Updated 19 Feb, 2024 10:58pm

Pakistan

IHC suspends victory notifications on Islamabad’s three National Assembly seats

The Islamabad High Court (IHC) on Monday suspended the victory notifications on three National Assembly seats from...

Updated 19 Feb, 2024 10:57pm

Sports

Mathews gives Sri Lanka unassailable Afghanistan T20 series lead

DAMBULLA: All-rounder Angelo Mathews starred with a quickfire 42 and two wickets as Sri Lanka secured the three...

Updated 19 Feb, 2024 10:51pm

Europe

Majority EU countries call for ‘immediate humanitarian pause’ in Gaza, says EU top diplomat Borrell

BRUSSELS: 26 of the 27 EU countries call for “an immediate humanitarian pause that would lead to a sustainable...

Published 19 Feb, 2024 10:45pm

Sports

Caretaker govt puts PCB under direct control of PM Office

Caretaker Prime Minister Anwaar-ul-Haq Kakar on Monday put the Pakistan Cricket Board (PCB) under direct control of...

Updated 19 Feb, 2024 10:42pm

Exchange

Pakistan’s REER index surges to 101.7 in January

Pakistan’s Real Effective Exchange Rate (REER), a measure of the value of a currency against a weighted average of...

Updated 19 Feb, 2024 10:39pm

World

Israeli strikes hit near south Lebanon city of Sidon

BEIRUT: At least two Israeli air strikes hit southern Lebanon on Monday near the coastal city of Sidon, state media...

Published 19 Feb, 2024 10:32pm

World

Biden says ‘considering’ more Russia sanctions after Navalny death

WASHINGTON: US President Joe Biden is “considering additional sanctions” on Moscow after the death of Russian...

Published 19 Feb, 2024 10:26pm

Pakistan

SC adjourns hearing petition seeking to declare general elections void

Summons petitioner on February 21

Updated 19 Feb, 2024 10:26pm

Markets

Election outcome in Pakistan ‘may complicate’ new IMF deal: Fitch

Pakistan’s vulnerable external position means securing financing from multilateral and bilateral partners will be 'one of the most urgent issues on the agenda for the next government'

Updated 19 Feb, 2024 10:25pm

Pakistan

Pakistan’s majority parties struggle to form coalition government

ISLAMABAD: Pakistan’s two major parties are set to meet on Monday to try and bridge differences over forming a...

Updated 19 Feb, 2024 10:12pm

Companies

CCP approves merger of Korean firm with Mira Power

The Competition Commission of Pakistan (CCP) has approved merger of a Korean firm with a Pakistani company Mira...

Published 19 Feb, 2024 09:51pm

Forex

Pakistan’s current account posts deficit of $269mn in January 2024

Imports increase 11% on monthly basis, contributing to C/A deficit

Updated 19 Feb, 2024 09:15pm

Travel

Dubai’s golden visa policy helping defy global office slump: report

Golden visas provide 'long-term horizons and predictability - the bedrock of decision-making for executives', says Bloomberg

Published 19 Feb, 2024 09:11pm

Europe

Biden says willing to meet with US House speaker over Ukraine aid

WASHINGTON: U.S. President Joe Biden on Monday said he is willing to meet with Republican House of Representatives...

Published 19 Feb, 2024 09:06pm

USA

Trump breaks silence on Navalny death, says US ‘in decline’

WASHINGTON: Donald Trump on Monday ended his lengthy silence on the death of Alexei Navalny, in a statement that...

Published 19 Feb, 2024 09:03pm

Sports

Guardiola says Man City’s success creates sky-high demands

LONDON: Pep Guardiola said Monday that higher expectations faced by Manchester City are the price of years of...

Published 19 Feb, 2024 08:21pm

Africa

Houthi attacks cut Suez Canal revenue by 40-50%: Egypt’s Sisi

CAIRO: Egyptian President Abdel Fattah al-Sisi said Monday that revenues from the Suez Canal had “decreased by 40 to...

Published 19 Feb, 2024 08:18pm

Energy

Saudi crude exports dipped in December after three months of gains

Saudi Arabia’s crude oil exports in December fell for the first time in four months, data from the Joint...

Published 19 Feb, 2024 07:41pm

Commodities

Russian wheat export prices fell again last week, shipments increased

MOSCOW: Russian wheat export prices continued to fall last week amid weakening global prices and some growth in...

Published 19 Feb, 2024 07:05pm

Stocks

Saudi index at 18-month high leads Gulf market gains

Most stock markets in the Gulf rose on Monday, led by the Saudi index closing at its highest since August 2022,...

Published 19 Feb, 2024 07:03pm

Forex

Rupee unchanged against US dollar

Currency settles at 279.36 in inter-bank market

Updated 19 Feb, 2024 06:59pm

Sports

‘No solutions’ for Marseille as Gattuso poised for exit

MARSEILLE: Italian coach Gennaro Gattuso is to leave Ligue 1 side Marseille following their 1-0 defeat at Brest at...

Published 19 Feb, 2024 06:48pm

Sports

Miami expects trophies from Messi’s first full season in MLS

MIAMI: Lionel Messi and Inter Miami get the new Major League Soccer season under way on Wednesday with pressure on...

Published 19 Feb, 2024 06:45pm

Stocks

Bulls mark return, KSE-100 closes nearly 1% higher

Driven by energy sector’s recovery, the Pakistan Stock Exchange (PSX) saw a turnaround as the benchmark KSE-100...

Updated 19 Feb, 2024 06:43pm

Energy

Oil steadies as demand jitters counter Middle East conflict

LONDON: Global oil benchmark Brent crude was little changed on Monday, hovering around $83 a barrel as festering...

Updated 19 Feb, 2024 06:17pm

Europe

EU’s von der Leyen wins backing for second term from Germany

BERLIN: European Commission President Ursula von der Leyen on Monday won the backing of her German centre-right...

Published 19 Feb, 2024 05:52pm

Europe

Ukraine says Russia attacking with ‘heavy fire’ in south

KYIV: Ukrainian troops are facing “heavy fire” from Russian forces in the southern Zaporizhzhia region after Moscow...

Published 19 Feb, 2024 05:46pm

Europe

Red Cross probing fate of 23,000 missing in Russia-Ukraine war

GENEVA: The Red Cross said Monday it was trying to find out what happened to 23,000 people who have disappeared in...

Published 19 Feb, 2024 05:40pm

Stocks

Stock markets diverge before more key earnings

LONDON: Major stock markets diverged Monday as traders awaited more earnings updates this week from heavyweight...

Published 19 Feb, 2024 05:15pm

Forex

Sterling inches higher after last week’s fall

LONDON: The pound edged slightly higher on Monday after falling last week, as investors waited for new impetus from...

Published 19 Feb, 2024 05:09pm

Stocks

Indian shares extend gains for fifth session; Nifty 50 scales new peak

BENGALURU: Indian shares extended gains for the fifth straight session on Monday, with the blue-chip Nifty 50 index...

Published 19 Feb, 2024 05:06pm

Luxury

Spring festival spending on China’s duty-free island hits record

SHANGHAI: Shoppers visiting China’s island province of Hainan spent a record 2.49 billion yuan ($346.2 million) on...

Published 19 Feb, 2024 05:01pm

Middle East

At World Court, Palestinians demand end of Israeli occupation

THE HAGUE: Palestinian Foreign Minister Riyad al-Maliki on Monday demanded an immediate end to Israel’s occupation...

Updated 19 Feb, 2024 05:00pm

Bullion Rate

Gold price per tola increases Rs1,100 in Pakistan

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

Published 19 Feb, 2024 04:59pm

Energy

OGDCL discovers ‘significant’ hydrocarbon reserves in Sindh

Oil & Gas Development Company Limited (OGDCL), Pakistan’s largest exploration and production company, has...

Updated 19 Feb, 2024 04:30pm

South Asia

25 killed in Afghanistan landslide caused by snowfall

KABUL: A landslide caused by heavy snowfall has killed 25 people and injured eight others in the eastern Afghan...

Published 19 Feb, 2024 04:28pm

Business & Economy

Pakistan sovereign dollar bonds slide in aftermath of contentious election

LONDON: Pakistan’s sovereign dollar bonds fell as much as 1.25 cents on Monday as rival parties struggled to form a...

Published 19 Feb, 2024 03:27pm

Pakistan

IHC summons caretaker PM again in missing Baloch students case

Says if Caretaker Prime Minister Anwaar-ul-Haq Kakar cannot perform his duties then he should leave his post

Published 19 Feb, 2024 02:44pm

Forex

Russian rouble steady following rate hold, Navalny death

MOSCOW: The Russian rouble steadied near 92 against the dollar on Monday after a volatile start to the session, as...

Published 19 Feb, 2024 02:09pm

Forex

Kenya shilling’s rally pauses

NAIROBI: Kenya’s shilling held steady against the dollar on Monday, pausing after last week’s rally, LSEG data...

Published 19 Feb, 2024 01:59pm

Energy

Saudi Arabia expects more than 5% medium-term non-oil growth, minister says

RIYADH: Saudi Arabia’s non-oil growth is expected to be above 5% in the medium term, Finance Minister Mohammed Al...

Published 19 Feb, 2024 01:54pm

Energy

Red Sea disruptions to limit products to customers in long term

RAS LAFFAN: QatarEnergy Chief Saad al-Kaabi said on Monday Red Sea shipping disruptions would limit the arrival of...

Published 19 Feb, 2024 01:49pm

Stocks

Major Gulf markets fall on rate cut prospects

Most major stock markets in the Gulf fell in early trading on Monday after data showed US producer prices increased...

Published 19 Feb, 2024 01:44pm

Europe

EU needs to ‘sharpen’ Russia sanctions after Navalny’s death, Landsbergis says

BRUSSELS: Lithuania’s foreign minister Gabrielius Landsbergis said on Monday the EU needs to “at least sharpen”...

Published 19 Feb, 2024 01:43pm

Literature

Changing power and perspectives: 15th KLF concludes on contemplative note

KARACHI: The final day of the 15th Karachi Literature Festival (KLF) ended on a contemplative note on Sunday with...

Updated 19 Feb, 2024 01:40pm

Stocks

FTSE 100 muted on receding rate-cut bets; AstraZeneca gains

The UK’s FTSE 100 started the week on a sombre note on Monday, as fading hopes of interest rate cuts by global...

Published 19 Feb, 2024 01:38pm

Cotton & Textile

Cotton arrival in Pakistan improves slightly: PCGA

Cotton arrival in Pakistan registered a slight increase of 0.3% on February 15 compared to January 31, as per the...

Published 19 Feb, 2024 01:31pm

Forex

China’s yuan slips on resurgent dollar as trading resumes after long holiday

SHANGHAI: China’s yuan slipped against the dollar on Monday as investors returned from the week-long Lunar New Year...

Published 19 Feb, 2024 12:37pm

Sports

Aryna Sabalenka craving success in Dubai on heels of Melbourne triumph

Aryna Sabalenka said it is in her nature to keep striving for success and that she has become addicted to that...

Published 19 Feb, 2024 12:34pm

Mutual Funds

JGB yields mostly flat with absence of market-moving cues

TOKYO: Japan’s government bond (JGB) yields were almost flat on Monday as investors struggled to find market-moving...

Published 19 Feb, 2024 12:32pm

Europe

Russia takes full control of Avdiivka coke plant, defence ministry says

MOSCOW: Russian forces on Monday claimed full control of the vast Soviet-era coke plant in the ruined Ukrainian town...

Published 19 Feb, 2024 12:29pm

Commodities

Iran’s SLAL tenders for 120,000 T each corn, barley, soymeal, traders say

HAMBURG: Iranian state-owned animal feed importer SLAL has issued international tenders to purchase up to 120,000...

Published 19 Feb, 2024 12:28pm

Energy

UAE’s Fujairah January marine bunker sales rise to five-month highs

SINGAPORE: Marine bunker fuel sales at Fujairah port in the United Arab Emirates recovered to five-month highs in...

Published 19 Feb, 2024 12:27pm

Forex

Australia, NZ dollars find some comfort as China markets reopen higher

SYDNEY: The Australian and New Zealand dollars found some solace on Monday as Chinese markets returned from a long...

Published 19 Feb, 2024 12:24pm

Business & Economy

Govt must reduce its footprint from businesses, says caretaker energy minister at KLF

Pakistan is perhaps the only country that is a multi-party democracy and where the government has strong footprints...

Updated 19 Feb, 2024 12:12pm

Sports

Atletico’s Simeone returns to cherished Milan for tough Inter battle

MADRID: Atletico Madrid coach Diego Simeone returns to a happy hunting ground on Tuesday at the San Siro, but must...

Published 19 Feb, 2024 11:42am

Europe

Ukraine PM seeks reconstruction help in Japan

TOKYO: Ukraine’s prime minister urged Japan’s government and private sector on Monday to step up support for the...

Published 19 Feb, 2024 11:37am

Stocks

Nintendo shares slide on reports of delayed Switch successor release

TOKYO: Nintendo shares fell 6% on Monday after reports by games media and Bloomberg that its next-generation console...

Published 19 Feb, 2024 11:31am

Stocks

Australian shares gain on mining boost; a2 Milk soars 17%

Australian shares inched higher on Monday, set for their third straight session of gains, buoyed by heavyweight...

Published 19 Feb, 2024 11:28am

Technology

Chinese EV giant BYD launches new plug-in hybrid sedan with lower starting price

BEIJING: Chinese electric vehicle giant BYD on Monday launched a new version of its plug-in hybrid sedan Qin Plus...

Published 19 Feb, 2024 11:24am

Stocks

Asia shares sputter as China returns with guarded gains

SYDNEY: Asian shares were off to a stuttering start on Monday as fading chances for early rate cuts globally soured...

Published 19 Feb, 2024 11:00am

Business & Finance

Thai Q4 GDP quarterly contraction firms case for rate cut

BANGKOK: Thailand’s economy unexpectedly contracted in the fourth quarter of 2023 from the third, adding to pressure...

Published 19 Feb, 2024 10:56am

Sports

Former England captains tear into ‘Bazball or bust’ approach

Former England captains aimed both barrels at the team’s high-wire ‘Bazball’ approach in the wake of their thrashing...

Published 19 Feb, 2024 10:54am

Stocks

India’s Paytm shares jump 5% after central bank extends unit wind-down date

BENGALURU: Shares of Indian payments firm Paytm rose 5% on Monday, after the country’s central bank granted its...

Published 19 Feb, 2024 10:52am

Business & Finance

Thai banks’ bad loans drop at end-December, but seen rising

BANGKOK: Thai banks’ non-performing loans (NPLs) dropped slightly to 2.66% of outstanding loans at the end of...

Published 19 Feb, 2024 10:50am

Sports

Ten Hag urges United to be more clinical after narrow Luton win

Manchester United must become more clinical in front of goal and put teams to the sword, manager Erik ten Hag said...

Published 19 Feb, 2024 10:45am

Companies

India’s Adani Group in talks with sovereign funds to raise $2.6bn, Business Standard reports

BENGALURU: India’s Adani Group is in advanced talks with West Asia-based sovereign funds to raise up to $2.6 billion...

Published 19 Feb, 2024 10:43am

South Asia

India offers protesting farmers support prices on corn, cotton, pulses

MUMBAI: India has offered guaranteed support prices for pulses, corn and cotton in a bid to break a deadlock with...

Published 19 Feb, 2024 10:42am

Sports

David Warner not expecting affectionate farewell from NZ fans

SYDNEY: David Warner will play his final bilateral international cricket series against New Zealand this week but...

Published 19 Feb, 2024 10:36am

Middle East

Dubai airport passenger numbers top pre-pandemic levels in 2023

DUBAI: Dubai International Airport (DXB), the world’s busiest international hub, registered a 31.7% increase in...

Published 19 Feb, 2024 10:35am

Stocks

Indian shares erase early gains, weighed down by IT stocks

BENGALURU: Indian shares surrendered early gains on Monday, dragged down by a decline in information technology...

Published 19 Feb, 2024 10:33am

Commodities

Copper edges lower as dollar steadies; China resumes trade

NEW DELHI: Copper prices edged lower on Monday as the US dollar steadied after last week’s inflation data cast...

Published 19 Feb, 2024 10:31am

South Asia

Sri Lankan health crisis could worsen as doctors seek work abroad

COLOMBO: Once considered one of the best in the region, Sri Lanka’s healthcare system is ailing, laid low by the...

Published 19 Feb, 2024 10:30am

Commodities

Dalian iron ore inches higher on China’s post-holiday demand outlook

BEIJING: Dalian iron ore futures edged higher on Monday, aided by hopes that demand will pick up in top consumer...

Published 19 Feb, 2024 10:26am

Commodities

Palm snaps two sessions of losses on stronger rival vegetable oils

JAKARTA: Malaysian palm oil futures climbed on Monday after two straight sessions of losses, supported by recovery...

Published 19 Feb, 2024 10:23am

Bullion Rate

Gold hits near 1-week peak on softer dollar, safe-haven demand

Gold prices rose to a near one-week high on Monday as a slight pullback in the US dollar and escalating tensions in...

Published 19 Feb, 2024 10:21am

Stocks

China stocks gain after Lunar New Year break; HK shares retreats

SHANGHAI: China shares gained on Monday as investors returning from the week-long Lunar New Year break snapped up...

Published 19 Feb, 2024 10:19am

Stocks

Nikkei pulls back from near record high as tech stocks slide

TOKYO: Japan’s Nikkei share average stepped back from near a record high on Monday, weighed down by chip-related...

Published 19 Feb, 2024 10:18am

Forex

Dollar steady as sticky inflation dents rate cut expectations

SINGAPORE: The dollar was steady on Monday after data last week showing US inflation remained sticky cast doubts on...

Published 19 Feb, 2024 10:05am

GTPS, SPS Faisalabad: NPGCL, Wapda at odds over ownership rights

CEO NPGCL conveys serious concern of the company’s Board on intrusion of Wapda’s security guards on the premises of properties of NPGCL in Faisalabad

Updated 19 Feb, 2024 09:57am

Senate meets today

ISLAMABAD: The Senate has been summoned to meet today (Monday) in the afternoon. A notification to this effect...

Updated 19 Feb, 2024 09:54am

Vote rigging allegation: PTI wants judicial inquiry sans CJP

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) has called for formation of a judicial commission to probe February 8...

Updated 19 Feb, 2024 09:54am

Mangla power station: Wapda proposes depositing ST with AJ&K

ISLAMABAD: The Water and Power Development Authority (Wapda) has proposed signing of a formal agreement between the...

Updated 19 Feb, 2024 09:53am

SHC dismisses plea of tractor-maker against refund

ISLAMABAD: Sindh High Court (SHC) has dismissed the petition, on the point of maintainability, of a leading tractor...

Updated 19 Feb, 2024 09:31am

Attachment of Discos’ bank accounts: IHC issues notices to FBR chief, others

ISLAMABAD: Islamabad High Court (IHC) has issued notices to Chairman Federal Board of Revenue (FBR), Member...

Updated 19 Feb, 2024 09:31am

Four-party alliance in Balochistan steps up its protest

QUETTA: A four parties’ alliance blocked roads in Balochistan as protest against alleged rigging in elections. A...

Updated 19 Feb, 2024 09:00am

Saudi delegation meets Nawaz

LAHORE: The delegation of the Saudi Embassy on Sunday met the Pakistan Muslim League (N) leader Mian Nawaz Sharif at...

Updated 19 Feb, 2024 08:54am

PML-N, PPP reach consensus over govt formation?

ISLAMABAD: Positive progress has been made in the matter of government formation between the Pakistan Muslim...

Updated 19 Feb, 2024 08:53am

Credit guarantee schemes for EVs on the cards

ISLAMABAD: The government is likely to introduce a credit guarantee scheme for Electric Vehicles (EVs) through State...

Updated 19 Feb, 2024 08:53am

Bilawal says he was offered PM’s seat for two years but declined

KARACHI: Pakistan Peoples Party Chairman Bilawal Bhutto-Zardari said on Sunday that he ‘could’ launch a protest if...

Updated 19 Feb, 2024 08:52am

BR’s refresher: your morning briefing for the day

Important updates from February 17 and February 18, 2024

Published 19 Feb, 2024 08:40am

BR Research

Six quarters of LSM decline

The Large Scale Manufacturing (LSM) Index was in red for December 2023 – marking the 18 th consecutive month of...

Published 19 Feb, 2024 08:20am

BR Research

Rice exports: the taper begins

Pakistan’s rice exports reached the $2.1 billion mark in the first seven months of FY24, shooting past annual...

Published 19 Feb, 2024 08:16am

BR Research

Cherat Packaging Limited

Cherat Packaging Limited (PSX: CPPL) was incorporated as a public limited company in 1989. The company is engaged in...

Published 19 Feb, 2024 08:10am

Opinion

Why Pakistan lags in MMF exports

The global textiles and apparel trade is witnessing a significant transformation, shifting emphatically towards...