News Archives for Latest - 2024-02-21

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Archive - 2024-02-21

Sports

Afghanistan win three-run thriller, but Sri Lanka take T20 series

DAMBULLA: Afghanistan salvaged some pride on Wednesday when they secured a nail-biting three-run win over hosts Sri...

Updated 21 Feb, 2024 11:45pm

World

Hezbollah hits back after Israel strike kills woman, girl in Lebanon

BEIRUT: An Israeli air strike on south Lebanon killed a woman and a girl on Wednesday, prompting Lebanon's powerful...

Published 21 Feb, 2024 10:55pm

Pakistan

X faces disruption in Pakistan for 5th consecutive day: NetBlocks

Caretaker govt remains silent on unprecedented blockage of the social networking platform

Published 21 Feb, 2024 10:43pm

Companies

Lotte Chemical’s profit plunges 50% in 2023

Lotte Chemical Pakistan Limited (LOTCHEM), a subsidiary of South Korean chemical giant Lotte Chemical Corporation...

Updated 21 Feb, 2024 10:08pm

Markets

Pakistan sovereign dollar bonds jump after coalition government deal

LONDON: Pakistan’s sovereign dollar bonds jumped on Wednesday after two major political parties said late on Tuesday...

Updated 21 Feb, 2024 10:06pm

B2B Conference: Businessmen delegation leaves for Riyadh

ISLAMABAD: Pakistan’s first and largest ever business delegation, comprising top Business Groups has left for Riyadh...

Updated 21 Feb, 2024 10:06pm

Money & Banking

UBL’s profit clocks in at Rs56.5bn, up 76% in 2023

United Bank Limited (UBL), one of the country’s largest commercial banks, posted consolidated earnings of Rs56.47...

Updated 21 Feb, 2024 10:05pm

Markets

National Saving Schemes: CDNS reduces rates of return on majority instruments

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

Updated 21 Feb, 2024 10:05pm

Pakistan

SC disposes off petition seeking to declare polls null, void

Imposes fee of Rs500,000 on the petitioner

Updated 21 Feb, 2024 10:02pm

World

Myanmar junta 'increasingly desperate': UN expert

GENEVA: Myanmar's ruling military junta has "doubled down" on civilian attacks while showing signs of becoming...

Published 21 Feb, 2024 10:01pm

Middle East

Gaza humanitarian situation ‘inhumane’: WHO

GENEVA: The humanitarian situation in the Gaza Strip is inhumane, the head of the World Health Organization said...

Published 21 Feb, 2024 09:38pm

Business & Finance

Global debt hits new record high at $313 trillion: IIF

Figure stood at around $210 trillion almost a decade ago

Published 21 Feb, 2024 09:02pm

Energy

Oil steady as investors weigh US rate cut outlook with Middle East tensions

LONDON: Oil prices steadied on Wednesday, stabilising from losses in the previous session, as growing expectations...

Updated 21 Feb, 2024 08:57pm

South Asia

Sri Lanka repays $20m Iranian oil debt with tea

COLOMBO: Cash-strapped Sri Lanka said Wednesday it had exported tea worth $20 million to Iran to partially repay its...

Published 21 Feb, 2024 08:31pm

Europe

Brussels to finalise Ukraine EU talks framework ‘by summer’

BRUSSELS: European Commission chief Ursula von der Leyen said Wednesday that Brussels aimed to present its framework...

Published 21 Feb, 2024 08:18pm

Stocks

US stocks dip ahead of Nvidia results, Fed minutes

NEW YORK: Wall Street stocks opened lower Wednesday, extending a period of jitteriness ahead of earnings from major...

Published 21 Feb, 2024 08:09pm

Energy

US natgas prices soar 10% from 3-1/2-year low as Chesapeake cuts output

U.S. natural gas futures soared by about 10% on Wednesday after Chesapeake Energy - soon to be the biggest U.S. gas...

Published 21 Feb, 2024 07:42pm

Forex

Sterling steadies after Britain’s record January budget surplus

LONDON: Sterling steadied on Wednesday shrugging off Britain’s highest ever monthly budget surplus in January ahead...

Published 21 Feb, 2024 07:38pm

Pakistan

SJC proceedings against judge to continue even after resignation, rules Supreme Court

The Supreme Court declared on Wednesday that the Supreme Judicial Council (SJC) can continue its proceedings against...

Published 21 Feb, 2024 06:55pm

Stocks

Stock markets diverge before Nvidia results, Fed minutes

LONDON: Stock markets diverged Wednesday as traders nervously awaited earnings from US tech darling Nvidia, in...

Updated 21 Feb, 2024 06:53pm

Middle East

Iran invites IAEA chief to attend conference in May

TEHRAN: Iran’s nuclear chief said Wednesday that Tehran has invited the head of the International Atomic Energy...

Published 21 Feb, 2024 06:48pm

Middle East

Lula, Blinken meet amid Israel row

BRASÍLIA: US Secretary of State Antony Blinken met with Brazilian President Luiz Inacio Lula da Silva on Wednesday...

Published 21 Feb, 2024 06:39pm

Bullion Rate

Gold price per tola increases Rs750 in Pakistan

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

Updated 21 Feb, 2024 06:34pm

South Asia

Police fire tear gas at protesting Indian farmers, government offers talks

SHAMBHU: Indian police fired tear gas and water cannons on Wednesday to scatter thousands of farmers trying to stage...

Published 21 Feb, 2024 06:34pm

Forex

Rupee regains strength against US dollar

Currency settles at 279.50 against the US dollar in inter-bank market

Updated 21 Feb, 2024 06:33pm

Commodities

Aluminium rises to 3-week high on renewed US sanction risks

LONDON: Aluminium prices rose to a three-week high on Wednesday on concern about supplies ahead of an announcement...

Published 21 Feb, 2024 06:05pm

South Asia

Afghan Taliban official says taking pictures ‘a major sin’

KABUL: A Taliban official said journalists were committing “a major sin” by taking pictures, Afghan media reported...

Published 21 Feb, 2024 05:53pm

Life & Style

Youth appetite for gold rises as Chinese economy loses lustre

SHUNDE, China: The sound of gentle tapping filled a jewellery workshop in southern China as a craftsman hammered...

Published 21 Feb, 2024 05:30pm

Stocks

KSE-100 settles with 1.8% gain despite mid-session profit-taking

Consensus between PML-N and PPP regarding formation of government drives positive sentiment

Updated 21 Feb, 2024 05:32pm

Money & Banking

Askari Bank records Rs21.5bn profit in 2023

Askari Bank reported a profit after tax (PAT) of Rs21.54 billion in 2023, an increase of 53% compared to Rs14.06...

Published 21 Feb, 2024 05:31pm

Stocks

Indian shares snap six-session winning run as IT drags

BENGALURU: Indian shares fell on Wednesday, snapping a six-session winning streak, dragged by information technology...

Published 21 Feb, 2024 05:18pm

Movies & Music

The Beatles: Sam Mendes to direct four films - one about each band member

Sony Pictures Entertainment and Oscar-winning filmmaker Sam Mendes have set plans to make four separate theatrical...

Updated 21 Feb, 2024 05:15pm

Luxury

Swiss luxury watch exports slow down amidst luxury glut

Buyers of luxury Swiss watches are reining in spending amid economic and geopolitical concerns following a pandemic...

Published 21 Feb, 2024 05:07pm

Commodities

Palm oil inches up on Dalian despite weak exports data and low demand

JAKARTA: Malaysian palm oil futures inched higher on Wednesday, tracking Dalian’s palm oil contract, although weak...

Published 21 Feb, 2024 05:13pm

Commodities

Chicago grains ease as short-covering rally fades

PARIS/CANBERRA: Chicago wheat, corn and soybeans edged down on Wednesday as a bounce fuelled by short-covering...

Published 21 Feb, 2024 05:10pm

Sports

David, Marsh propel Australia to thrilling T20 win over New Zealand

WELLINGTON: Tim David hit a four off the last ball to give Australia a nail-biting six-wicket victory over New...

Updated 21 Feb, 2024 03:36pm

Forex

Ugandan shilling steady; to ease due to commercial bank FX demand

KAMPALA: The Ugandan shilling was steady, although it was forecast to weaken in the days ahead due to increased...

Published 21 Feb, 2024 03:32pm

Europe

King Charles to appear on UK banknotes from June

LONDON: Banknotes featuring the portrait of King Charles will enter circulation in Britain from June 5, the Bank of...

Published 21 Feb, 2024 03:30pm

Sports

‘Definitely a chance’ Stokes will bowl in fourth India Test: Pope

RANCHI: There is “definitely a chance” that England captain Ben Stokes will bowl in the fourth Test against India,...

Published 21 Feb, 2024 03:24pm

Stocks

Most Gulf markets fall in early trade, Saudi gains

Most stock markets in the Gulf fell in early trade on Wednesday as hopes waned for early interest rate cuts from the...

Published 21 Feb, 2024 02:54pm

Stocks

Banks and miners drag FTSE 100 lower after subdued earnings from HSBC, Glencore

The UK’s FTSE 100 fell on Wednesday, as disappointing earnings updates from HSBC Holdings and Glencore weighed on...

Published 21 Feb, 2024 02:45pm

Luxury

Milan Fashion Week fires up catwalks despite cautious outlook

MILAN: The fashion set moves to Italy Wednesday for Milan Fashion Week, marked by a new designer at Moschino but...

Published 21 Feb, 2024 01:35pm

South Asia

Sri Lanka inflation to reach 5% during Q3-Q4

COLOMBO: Sri Lanka’s inflation is expected to return to the government’s 5% target starting from the last two...

Published 21 Feb, 2024 01:17pm

Middle East

Iran says Israel is responsible for ‘plot’ against gas pipelines

DUBAI: Israel was behind last week’s attack on Iranian gas pipelines, Iran’s Oil Minister Javad Owji said on...

Published 21 Feb, 2024 01:13pm

July-January FY24: Trade deficit shrinks 32.7pc to $13.16bn YoY

Pakistan Bureau of Statistics says exports increased by 7.87 percent to $17.778 billion

Updated 21 Feb, 2024 01:04pm

Middle East

Israeli missile attack hits high-security district in Syrian capital

DAMASCUS: Several Israeli missiles hit a residential building in the Kafr Sousa district in Syria’s capital Damascus...

Published 21 Feb, 2024 12:57pm

Sports

Virat Kohli ends speculation over absence with baby announcement

NEW DELHI: Virat Kohli has announced the birth of his second child, ending speculation over the reason for his...

Published 21 Feb, 2024 12:44pm

Stocks

Hong Kong’s Hang Seng Index jumps 3%

HONG KONG: Hong Kong’s benchmark Hang Seng Index jumped 3 percent, or 488.41 points, to 16,735.92, at the break...

Published 21 Feb, 2024 12:40pm

Sports

England back under-fire Joe Root, Bairstow to keep India series alive

RANCHI: England are blocking out all “external noise” to help Joe Root and Jonny Bairstow hit form and keep the...

Published 21 Feb, 2024 12:38pm

Middle East

US lawmakers hopeful of pause in Gaza war before Ramadan

AMMAN: Two senior U.S lawmakers who held talks with Israeli and Arab leaders said on Tuesday that they were hopeful...

Published 21 Feb, 2024 12:23pm

Europe

Russia says G20 Ukraine discussion is ‘destructive’

The inclusion of the topic of Ukraine at the Group of 20 meetings is destructive and the politicisation of the Group...

Published 21 Feb, 2024 11:55am

Europe

US, Russia to speak on Israeli occupation at top UN court

THE HAGUE: The United States and Russia will present arguments on Wednesday in proceedings at the UN’s highest court...

Published 21 Feb, 2024 11:50am

World

China disappointed over US veto on Israel-Hamas ceasefire vote

China expressed “strong disappointment” over the United States blocking a draft United Nations Security Council...

Published 21 Feb, 2024 11:39am

Commodities

Ample supply pushes Chicago wheat lower after short-covering rally

CANBERRA: Chicago wheat on Wednesday shed some gains from the previous session as plentiful supply and falling...

Published 21 Feb, 2024 11:31am

Stocks

Asian shares ease as early rate cut bets fizzle, focus on Fed minutes

SINGAPORE: Asian stocks eased on Wednesday as diminishing expectations of early interest rate cuts from the Federal...

Published 21 Feb, 2024 11:28am

Asia

China air passenger numbers rise 44.6% in January

BEIJING: Air passenger numbers in China surged 44.6% year-on-year in January to 54.26 million trips, according to...

Published 21 Feb, 2024 11:25am

Cotton & Textile

Textile unit commits Rs1.4bn tax ‘fraud’ by ‘misusing’ EFS

KARACHI: A textile unit, reportedly owned by political bigwigs, has committed around Rs 1.4 billion tax fraud by...

Updated 21 Feb, 2024 11:15am

Forex

Indian rupee to rise on offshore dollar selling interest

MUMBAI: The Indian rupee is poised to advance at open on Wednesday helped by the dollar selling in the offshore...

Published 21 Feb, 2024 11:07am

Commodities

Palm oil tracks rival oils higher, reverses previous session’s losses

JAKARTA: Malaysian palm oil futures rose on Wednesday, tracking strength in Dalian’s palm olein contract and Chicago...

Published 21 Feb, 2024 11:05am

Sports

Karolina Muchova has surgery for wrist injury

French Open finalist Karolina Muchova faces a further spell on the sidelines after having surgery for a right wrist...

Published 21 Feb, 2024 11:00am

World

Qantas’ pilots suspend strike plan on Cyclone Lincoln risk

Pilots at Network Aviation, a subsidiary of Qantas Airways, has called off their four-day strike plan from Thursday...

Published 21 Feb, 2024 10:57am

Stocks

India’s Zee slides 10% after report of regulator finding accounting issue

BENGALURU: Shares of India’s Zee Entertainment slid 10% in pre-open trade on Wednesday, after a media report...

Published 21 Feb, 2024 10:55am

Commodities

Copper hits near 3-week peak on softer dollar, China demand hopes

Copper prices rose to a near three-week high on Wednesday, supported by a weaker US dollar and hopes of a strong...

Published 21 Feb, 2024 10:52am

Business & Finance

Toyota holds off response on wage talks after first round

TOKYO: Toyota Motor, the world’s biggest automaker, held off on Wednesday from offering responses to its union’s...

Published 21 Feb, 2024 10:49am

Commodities

Vietnam Jan coffee exports up 15% m/m to 238,266 tons

HANOI: Vietnam’s coffee exports in January were at 238,266 million metric tons, up 67.4% from a year earlier and...

Published 21 Feb, 2024 10:45am

Commodities

Vietnam Jan rice exports up 4% on-month at 512,265 T

HANOI: Vietnam’s rice exports in January rose 4% from the previous month to 512,265 metric tons, government customs...

Published 21 Feb, 2024 10:41am

PML-N, PPP say Shehbaz to be PM, Zardari president

ISLAMABAD: Following several rounds of consultations, the major political parties – Pakistan Muslim League-Nawaz...

Updated 21 Feb, 2024 10:40am

Business & Finance

Vietnam January trade surplus at $3.53bn, says customs department

HANOI: Vietnam’s exports in January rose 9.7% from the previous month to $34.53 billion, government customs data...

Published 21 Feb, 2024 10:38am

Sports

South Korea captain Son welcomes Lee’s apology after Asian Cup bust-up

SEOUL: South Korea captain Son Heung-min has asked fans to forgive team mate Lee Kang-in after the midfielder...

Published 21 Feb, 2024 10:34am

South Asia

With cranes and excavators, Indian farmers prepare to march on capital

SHAMBHU: Thousands of Indian farmers prepared on Wednesday for a protest march to the capital, equipped with cranes...

Published 21 Feb, 2024 10:32am

Business & Finance

HSBC full-year profit jumps 78%, trailing estimate

HONG KONG/LONDON: HSBC Holdings reported a 78% jump in full-year profit, a record high gain on high interest rates,...

Published 21 Feb, 2024 10:29am

Forex

China’s yuan rebounds to near 3-week high on broadly weaker dollar, A-share gains

SHANGHAI: China’s yuan rebounded to a near three-week high against the dollar on Wednesday, after breaching a key...

Published 21 Feb, 2024 10:28am

Asia

Beijing shuts highways after heavy snowfall

BEIJING: Beijing shut some highways on Wednesday after heavier-than-expected snowfall hit the Chinese capital...

Published 21 Feb, 2024 10:26am

Stocks

China stocks extend rally on market rescue measures, HK surges

HONG KONG: China stocks rose for a seventh straight session, while Hong Kong stocks advanced on gains in tech and...

Published 21 Feb, 2024 10:23am

Mutual Funds

Rising foreign interest in long-duration India bonds nudges yields down

MUMBAI: Indian government bond yields trended down on Wednesday, led by recent foreign buying, while no fresh supply...

Published 21 Feb, 2024 10:20am

Technology

Thailand approves incentives for use of electric trucks, buses

BANGKOK: Thailand has approved incentives for companies to transition their commercial fleets of large trucks and...

Published 21 Feb, 2024 10:16am

Bullion Rate

Gold holds steady as traders await Fed minutes

Gold prices held steady on Wednesday, helped by a slightly weaker dollar as investors looked forward to minutes of...

Published 21 Feb, 2024 10:13am

Technology

Meta’s Zuckerberg to meet Samsung chief, discuss AI in South Korea

SEOUL: Meta’s CEO Mark Zuckerberg is planning to visit South Korea to meet Samsung Electronics chairman Jay Y. Lee...

Published 21 Feb, 2024 10:08am

Stocks

Australian shares follow Wall Street lower, miners top laggard

Australian shares tracked Wall Street lower on Wednesday, with the mining sector leading the laggards due to weaker...

Published 21 Feb, 2024 10:05am

Stocks

Nikkei slumps on market jitters before Nvidia earnings

TOKYO: Japan’s benchmark stock index edged down for a second day on Wednesday, teetering below an all-time high as...

Published 21 Feb, 2024 10:00am

Stocks

India’s Nifty 50 set to open at new record high

BENGALURU: Indian shares are set to open marginally higher on Wednesday, with the benchmark Nifty 50 reaching fresh...

Published 21 Feb, 2024 09:56am

Forex

Australia, NZ dollars break resistance, reach 9-year highs on yen

SYDNEY: The Australian and New Zealand dollars inched higher on Wednesday after cracking resistance offshore, while...

Published 21 Feb, 2024 09:54am

Discos’ Jan tariffs: CPPA-G seeks Rs7.13 per unit positive adjustment

ISLAMABAD: The Central Power Purchasing Agency-Guaranteed (CPPA-G) has sought positive adjustment of Rs 7.13 per...

Updated 21 Feb, 2024 09:53am

NTDC projects funded by World Bank, ADB: Senate panel clears two major ‘scandals’

ISLAMABAD: Senate Standing Committee on Power on Tuesday cleared two major scandals of power projects being...

Updated 21 Feb, 2024 09:53am

Forex

Dollar tracks global yields lower; sterling heavy

SINGAPORE: The dollar fell broadly on Wednesday as it tracked a global decline in bond yields, while sterling...

Published 21 Feb, 2024 09:52am

Pink salt export: PM witnesses signing of JV between PMDC and Saltworks

ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar has stated that the government has introduced comprehensive...

Updated 21 Feb, 2024 09:35am

Export Processing Zone: Sindh cabinet allows federal govt to use PSM land

KARACHI: The provincial caretaker cabinet of Sindh, Tuesday made some decisions, including increasing the rate of...

Updated 21 Feb, 2024 09:32am

Senate panel passes NSC amendment bill

Islamabad: The Senate Standing Committee on Law and Justice, unanimously, passed the “National Security Council...

Updated 21 Feb, 2024 09:31am

FBR collects Rs5.15trn from July to mid-Feb: MoF

ISLAMABAD: The major contributors to income tax collection during July-January (2023-24) were banks, petroleum...

Updated 21 Feb, 2024 09:30am

BR’s refresher: your morning briefing for the day

Important updates from February 20,2024

Published 21 Feb, 2024 09:25am

‘Term’ used in Cos Act: SECP clarifies issue of ‘independent directors’

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP), Tuesday, declared that no company’s director...

Updated 21 Feb, 2024 08:57am

Pakistan

If three parties don’t take decisions, GHQ will decide: Mushahid

ISLAMABAD: Senator Mushahid Hussain has demanded the release of all political prisoners, including PTI Founder Imran...

Updated 21 Feb, 2024 08:54am

BR Research

Gas tariffs: No protection for protected

Natural gas prices went up once again, as the authorities take nothing for chance under the IMF SBA conditions. The...

Published 21 Feb, 2024 08:33am

BR Research

Cherat: Rain in a drought

What would lead to the highest-ever quarterly earnings for a cement manufacturer like Cherat Cement (PSX: CHCC)?...

Published 21 Feb, 2024 08:29am

BR Research

Synthetic Products Enterprises Limited

Synthetic Products Enterprises Limited (PSX: SPEL) was incorporated in Pakistan as a private limited company in...

Published 21 Feb, 2024 08:27am

Opinion

Economic priorities for the incoming govt

Pakistan has entered a pivotal phase of governance following its recent general elections, as a new government takes...