News Archives for Latest - 2024-02-23

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Archive - 2024-02-23

Europe

Russia threatening to bury Navalny on prison grounds, team says

WARSAW: Russian authorities are threatening to bury Alexei Navalny on the grounds of the Arctic prison colony where...

Published 23 Feb, 2024 10:55pm

World

Biden to host Italian PM Meloni at W.House on March 1

WASHINGTON: US President Joe Biden will host Italian Prime Minister Giorgia Meloni at the White House next week for...

Published 23 Feb, 2024 10:50pm

Pakistan

PTI tones down stance on approaching IMF, says Pakistan should continue to engage lender

Remarks come after party had earlier stated that it would write letter over alleged 'election rigging' in the country

Updated 23 Feb, 2024 10:49pm

Markets

IMF refrains from commenting on Imran Khan’s ‘letter’, says keen on working with new govt

Lender says caretaker authorities 'have maintained economic stability'

Updated 23 Feb, 2024 10:49pm

Middle East

UAE removed, Kenya and Namibia added to int'l money laundering grey list

PARIS: Global anti-money laundering watchdog the Financial Action Task Force (FATF) said Friday that it had removed...

Updated 23 Feb, 2024 10:35pm

USA

G20 says two-state solution only answer to Israel-Palestinian conflict

RIO DE JANEIRO: Foreign ministers at the G20 group of nations meeting in Brazil were nearly unanimous in their...

Updated 23 Feb, 2024 10:07pm

Business & Finance

Red Sea is temporary issue, can reach CIS countries through Pakistan: CEO Dubai’s DP World

Naturally, there are disturbances and noises but trade is resilient, says Sultan bin Sulayem

Updated 23 Feb, 2024 10:07pm

Pakistan

PPP finalises Murad Ali Shah’s name for Sindh CM

Newly elected MPAs set to take oath in Sindh Assembly tomorrow

Updated 23 Feb, 2024 09:24pm

Commodities

Gold price per tola falls Rs1,200 in Pakistan

Gold rates in Pakistan decreased on Friday in line with decline in the international rate. The yellow metal was...

Updated 23 Feb, 2024 09:03pm

Stocks

Positivity continues at PSX, KSE-100 gains nearly 1.5%

Sentiment improves after IMF said it looks forward to working with new government

Updated 23 Feb, 2024 09:02pm

Commodities

Nickel heads for biggest weekly gain in seven months

LONDON: Nickel prices were heading for their biggest weekly gain in seven months on Friday as expansion of Western...

Published 23 Feb, 2024 07:31pm

Business & Finance

PSX celebrates closing of Prince’s Trust International’s Enterprise Challenge Pakistan

A gong ceremony was held at Pakistan Stock Exchange (PSX) to celebrate closing of Enterprise Challenge Pakistan...

Published 23 Feb, 2024 07:12pm

Forex

Rupee slips marginally against US dollar

Currency settles at 279.36 against US dollar in inter-bank market

Updated 23 Feb, 2024 06:32pm

Energy

Oil set for weekly decline with Fed in no rush to cut interest rates

LONDON: Oil prices fell on Friday and were on track for a weekly decline after the U.S. central bank indicated that...

Updated 23 Feb, 2024 06:26pm

USA

Putin to pay ‘steeper price’ with fresh sanctions: Biden

WASHINGTON: US President Joe Biden said Friday that fresh sanctions imposed on Russia will force President Vladimir...

Published 23 Feb, 2024 06:08pm

Middle East

Israeli spy chief in Paris for Gaza ceasefire talks

JERUSALEM: An Israeli delegation led by the head of the country’s overseas intelligence agency arrived in Paris on...

Published 23 Feb, 2024 06:02pm

Companies

Digital media upstart Vice laying off ‘several hundred’ staff: CEO

WASHINGTON: Vice, the dynamic, fast-growing digital media company that gained a wide following with young readers,...

Published 23 Feb, 2024 05:50pm

Pakistan

Newly-elected Punjab lawmakers take oath

Punjab Assembly Speaker Sibtain Khan administers oath

Updated 23 Feb, 2024 05:44pm

Stocks

UAE stock markets fall on weak oil prices

Stock markets in United Arab Emirates declined on Friday, tracking oil prices after a U.S. Federal Reserve governor...

Published 23 Feb, 2024 05:41pm

Money & Banking

India’s forex reserves hit two-month low

BENGALURU: India’s foreign exchange reserves dropped for a second straight week and stood at a two-month low of...

Published 23 Feb, 2024 05:38pm

Companies

Warner Bros Discovery misses quarterly revenue estimates

Warner Bros Discovery fell short of Wall Street estimates for quarterly revenue on Friday, weighed down by the...

Published 23 Feb, 2024 05:34pm

USA

Moon landing: US clinches first touchdown in 50 years

A spacecraft built and flown by Texas-based company Intuitive Machines landed near the moon’s south pole on...

Published 23 Feb, 2024 05:30pm

Europe

Moscow bans more EU officials and politicians from Russia in response to sanctions

MOSCOW: Russia’s foreign ministry said on Friday it had significantly expanded a list of European Union officials...

Published 23 Feb, 2024 05:16pm

Perspectives

IT sector will not flourish with frequent social media/internet blockage

If the government of Pakistan wants to see the IT sector flourish and its exports to line up – the government must...

Published 23 Feb, 2024 05:14pm

Arts

Dubai: what to catch at Alserkal Art Week

Will run February 25-March 3 at Alserkal Avenue, Pakistani artists Rashid Rana and Hamra Abbas slated to attend

Published 23 Feb, 2024 05:00pm

Energy

Global LNG: Asia spot prices hit near three-year lows as weak demand weighs

SINGAPORE: Asian spot liquefied natural gas (LNG) fell to a fresh low this week, easing to its lowest levels in...

Published 23 Feb, 2024 04:58pm

Money & Banking

Standard Chartered profit jumps 115% in CY23

Standard Chartered Bank (Pakistan) Limited (SCBPL), a subsidiary of Standard Chartered Plc, posted earnings of...

Published 23 Feb, 2024 04:55pm

Stocks

Financials lead Indian shares to second straight weekly gains

BENGALURU: Indian shares logged their second straight week of gains, with the benchmark Nifty 50 index hitting...

Published 23 Feb, 2024 04:39pm

Money & Banking

HBL’s 2023 profit-before-tax rises to record Rs114bn, up 47%

HBL on Friday declared a record profit before tax of Rs 113.6 billion for the year ended December 31, 2023, 47%...

Published 23 Feb, 2024 04:39pm

Commodities

Palm posts weekly gains as market waits for new leads

JAKARTA: Malaysian palm oil futures moved up and down on Friday for want for a direction, finally inching higher and...

Published 23 Feb, 2024 04:34pm

Mutual Funds

Saudi sovereign wealth fund pitches kingdom as AI hub

MIAMI: The head of Saudi Arabia’s Public Investment Fund (PIF) on Thursday pitched the kingdom as a prospective hub...

Published 23 Feb, 2024 02:50pm

Pakistan

Pakistan dynasty’s crown jewel breeds resentment

LAHORE: Under the dizzying lights and gleaming monuments of Pakistan’s cultural capital Lahore, Sidra Bilal’s mind...

Published 23 Feb, 2024 02:27pm

Movies & Music

Elton John items fetch $8mn at New York auction

NEW YORK: Nearly $100,000 for Elton John’s monogrammed silver boots and around $2 million for a triptych by street...

Published 23 Feb, 2024 02:05pm

Stocks

FTSE 100 rises on Standard Chartered boost

Britain’s FTSE 100 edged higher at open on Friday, propped by financial stocks following Standard Chartered’s...

Published 23 Feb, 2024 01:55pm

South Asia

India calls for early release of nationals working for Russian army

NEW DELHI: India has asked Russia for the early release of some Indians working with the Russian army in “support...

Published 23 Feb, 2024 01:53pm

Luxury

Prada nods to past, snow at Emporio Armani for Milan Fashion Week

MILAN: Italian luxury label Prada said it looked to the past for its latest womenswear line at Milan Fashion Week on...

Published 23 Feb, 2024 01:50pm

Sports

New Zealand fight back as Australia out for 174 in second T20

AUCKLAND: Opener Travis Head blazed 45 runs off 22 balls but Australia collapsed to be dismissed for 174 in the...

Updated 23 Feb, 2024 01:30pm

Stocks

European stock markets ahead at open

LONDON: Europe’s major stock markets crept higher Friday as investors paused at the end of a record-breaking week...

Published 23 Feb, 2024 01:29pm

South Asia

With spears and shields, India’s Nihang Sikh warriors join farmers’ protest

SHAMBHU: Thousands of protesting Indian farmers facing off with security forces have come under the protection of...

Published 23 Feb, 2024 11:59am

Sports

England 112-5 after Indian debutant Deep takes three wickets

RANCHI: Debutant Indian fast bowler Akash Deep took three early wickets including Ollie Pope for a duck to leave...

Updated 23 Feb, 2024 11:37am

Pakistan to seek at least $6bn in new IMF loan programme

NEW YORK: Pakistan plans to seek a new loan of at least $6 billion from the International Monetary Fund to help the...

Updated 23 Feb, 2024 11:03am

ECC asks MoC to review EFS in consultation with FBR

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has directed Commerce Ministry to review Export...

Updated 23 Feb, 2024 11:02am

‘Organised campaign’ against judges, judiciary unfortunate: SC

ISLAMABAD: The Supreme Court said an “organised campaign” against judges and judiciary was “unfortunate”, which is a...

Updated 23 Feb, 2024 11:02am

Caretakers say satisfied with own performance

ISLAMABAD: The caretaker federal cabinet has expressed satisfaction over the steps taken by the caretaker government...

Updated 23 Feb, 2024 11:00am

Business & Finance

Goldman Sachs no longer expects US interest rate cut in May

SINGAPORE: Goldman Sachs’ analysts no longer expect a US interest rate cut in May and see four 25 basis point cuts...

Published 23 Feb, 2024 10:54am

Commodities

Corn, soybeans recover from 3-year lows; ample supply caps gains

SINGAPORE: Chicago corn and soybean futures edged higher on Friday, with bargain-buying lifting prices after both...

Published 23 Feb, 2024 10:50am

Business & Finance

PBF wants a ‘non-technocrat’ as next finance minister

KARACHI: Pakistan Business Forum (PBF) has urged the Prime Minister (in-waiting) to appoint a politician on the slot...

Updated 23 Feb, 2024 10:48am

Mutual Funds

India bond yields flattish as market digests RBI minutes

MUMBAI: Indian government bond yields were little changed in early session on Friday as traders digested minutes of...

Published 23 Feb, 2024 10:46am

Energy

India Reliance’s Jan Russian oil imports up 48% m/m

NEW DELHI: India’s Reliance Industries Ltd raised its January oil imports from Russia by about 48% to nearly 335,700...

Published 23 Feb, 2024 10:44am

Bullion Rate

Gold set for weekly gain as weak dollar, Middle East woes lift appeal

Gold prices inched higher on Friday and were on track for their first weekly rise in three, as a broadly weaker US...

Published 23 Feb, 2024 10:42am

Forex

Yuan eases as China’s new home prices fall; US election in market’s radar

SHANGHAI: China’s yuan eased slightly against the US dollar on Friday as its new home prices fell for the seventh...

Published 23 Feb, 2024 10:39am

Stocks

China stocks set to snap 8-session winning streak; policy move in focus

SHANGHAI: China stocks slipped on Friday, on course to snap an eight-session winning streak, as some investors...

Published 23 Feb, 2024 10:36am

Business & Finance

StanChart announces $1bn share buyback, dividend hike as 2023 profit rises 18%

HONG KONG/LONDON: Standard Chartered PLC on Friday reported 2023 pre-tax profit rose 18%, in line with forecasts,...

Published 23 Feb, 2024 10:34am

Business & Finance

Singapore Jan core inflation at 3.1% y/y

SINGAPORE: Singapore’s key consumer price gauge rose 3.1% in January on a yearly basis, lower than economists’...

Published 23 Feb, 2024 10:28am

Forex

Indian rupee upward momentum runs into Fed, dollar buying by oil companies

MUMBAI: The Indian rupee struggled to build on its upward momentum on Friday, on dollar demand from oil companies...

Published 23 Feb, 2024 10:27am

Commodities

Palm drops for second straight session on weaker Dalian vegetable oils

JAKARTA: Malaysian palm oil futures extended losses to a second straight session on Friday, dragged down by losses...

Published 23 Feb, 2024 10:25am

USA

Brazil’s Lula meets with Russian foreign minister

BRASÍLIA: Brazil’s President Luiz Inacio Lula da Silva met Thursday with Russian Foreign Minister Sergei Lavrov, who...

Published 23 Feb, 2024 10:19am

Europe

UK, EU border agency agree migration pact

LONDON: The United Kingdom will sign an agreement with the EU border agency Frontex on Friday to work together to...

Published 23 Feb, 2024 10:14am

Europe

Volodymyr Zelensky urges US Congress to approve new Ukraine aid

WASHINGTON: President Volodymyr Zelensky called on the US Congress to approve additional aid for Kyiv, saying in an...

Published 23 Feb, 2024 10:11am

Sports

Man City, Arsenal look to close title gap, Man Utd start Ratcliffe era

LONDON: With Liverpool in League Cup final action against Chelsea on Sunday, the chasing pack have a chance to close...

Published 23 Feb, 2024 10:10am

Stocks

Hong Kong shares open lower

HONG KONG: Hong Kong stocks opened lower on Friday, a day after Japanese, US and European markets saw surging tech...

Published 23 Feb, 2024 09:53am

Europe

4 dead as fire ravages residential block in Spain’s Valencia

VALENCIA: At least four people have died in a huge fire that gutted a multi-storey apartment block in Spain’s...

Published 23 Feb, 2024 09:51am

USA

IMF approves $880 million for Ukraine

WASHINGTON: The International Monetary Fund said Thursday it will disburse $880 million to Ukraine in the third...

Published 23 Feb, 2024 09:47am

Stocks

Asian markets advance after record rallies

HONG KONG: Asian shares climbed Friday following a day of record highs in Japanese, US and European markets after...

Published 23 Feb, 2024 09:44am

GIDC funds to be used towards IP gas pipeline

ISLAMABAD: The government is to utilise Rs 45 billion under Gas Infrastructure Development Cess (GIDC) on...

Updated 23 Feb, 2024 09:36am

Austerity steps approved by PM

ISLAMABAD: Caretaker Prime Minister Anwar-ul-Haq Kakar approved a number of austerity measures to stop unnecessary...

Updated 23 Feb, 2024 09:36am

Sports

England’s Ahmed leaves India tour for ‘personal reasons’

RANCHI: England spinner Rehan Ahmed will leave India because of “personal reasons” and will not return for the rest...

Published 23 Feb, 2024 09:32am

USA

Trump seeks dismissal of classified documents case

WASHINGTON: Lawyers for Donald Trump asked a federal court Thursday to dismiss charges that he illegally removed...

Published 23 Feb, 2024 09:29am

Technology

Nvidia identifies Huawei as top competitor for the first time in filing

Nvidia, opens new tab identified Huawei as a top competitor in several categories, including artificial intelligence...

Published 23 Feb, 2024 09:25am

USA

US to impose sanctions on over 500 targets in Russia action on Friday

WASHINGTON: The United States will impose sanctions on over 500 targets on Friday in action marking the second...

Published 23 Feb, 2024 09:20am

BR Research

Barefoot on the edge of precipice

If there is one economic indicator that would single-handedly be responsible for turning GDP growth negative during...

Published 23 Feb, 2024 09:17am

Stocks

Australian shares track global peers higher on tech rally

Australian shares rose on Friday, tracking a broader rally in global peers, while strong performances in domestic...

Published 23 Feb, 2024 09:13am

BR Research

Power exercise: Very costly

Electricity generation in January 2023 went down 3 percent year-on-year to 7.9 billion units – marking a fourth...

Published 23 Feb, 2024 09:12am

USA

US achieves first moon landing in half century with private spacecraft

A spacecraft built and flown by Texas-based company Intuitive Machines landed near the south pole of the moon on...

Published 23 Feb, 2024 09:11am

BR Research

Ittehad Chemicals Limited

Ittehad Chemicals Limited (PSX: ICL) was incorporated in Pakistan in September 1991 to purchase the assets of...

Published 23 Feb, 2024 09:08am

Stocks

India’s Nifty 50 set to hit record high at open, surfing global rally

BENGALURU: India’s blue-chip index Nifty 50 is set to hit a record high for the fifth straight session on Friday,...

Published 23 Feb, 2024 09:00am

Forex

Yen sinks as currency traders keep short and carry on

SINGAPORE: The yen sagged to fresh lows on the euro, sterling and other crosses this week and headed for a fourth...

Published 23 Feb, 2024 08:55am

Borrowing level of caretakers comparatively lower than PDM govt’s: MoF

ISLAMABAD: The Finance Ministry has maintained that the domestic and external borrowings during the period of the...

Updated 23 Feb, 2024 08:54am

Appointments in courts, tribunals: PBC for preferring lawyers, sitting judges over retired ones

ISLAMABAD: The Pakistan Bar Council (PBC) urged the authorities to prioritise the fresh appointment of lawyers and...

Updated 23 Feb, 2024 08:53am

Business & Finance

Jul-Jan power sector circular debt soars to Rs2.635trn

ISLAMABAD: Pakistan’s power sector circular debt has reached Rs 2.635 trillion during first seven months of...

Updated 23 Feb, 2024 08:53am

Govt hints at lifting trade with Saudi Arabia up to $20bn

ISLAMABAD: Observing that the current trade volume falls short of expectations, Caretaker Federal Minister for...

Updated 23 Feb, 2024 08:52am

Ex-commissioner ‘retracts’ his vote rigging allegation

ISLAMABAD: A written statement of former commissioner Rawalpindi Division Liaqat Ali Chatha, who reportedly remains...

Updated 23 Feb, 2024 08:51am

BR’s refresher: your morning briefing for the day

Important updates from February 22,2024

Published 23 Feb, 2024 08:48am

Opinion

Will the power sector ever deliver?—II

After explaining the issues with policy and plan, governance and management of the PSCEs, it is important to explain...

Updated 23 Feb, 2024 07:22am

Opinion

Analysing the implementation of political manifestos

Since 1950, Pakistan has undergone significant political changes, alternating between military and civilian rules....

Updated 23 Feb, 2024 06:59am

Opinion

An ‘appropriate’ finance minister, and the need for an over-arching ‘economic minister’

As a new elected government is about to come into office, there is talk of who should be the finance minister....

Updated 23 Feb, 2024 06:58am

Opinion

Determining fair income tax base

According to the latest data available on the website of Pakistan Telecommunication Authority (PTA), as on December...