News Archives for Latest - 2024-02-26

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Archive - 2024-02-26

World

Israel files report with World Court on Gaza measures, Israeli official says

JERUSALEM: Israel on Monday filed a report with the International Court of Justice about measures taken to comply...

Published 26 Feb, 2024 11:55pm

World

Israel strikes deeper into Lebanon after Hezbollah downs drone

BEIRUT: Israeli warplanes struck Lebanon’s Bekaa Valley on Monday, killing at least two Hezbollah members in its...

Published 26 Feb, 2024 10:51pm

Stocks

KSE-100 closes 490 points higher as late-session profit taking trims early gains

Benchmark index hit intra-day high of 63,732.50 (gain of over 900 points) on some political clarity and anticipation of corporate results

Updated 26 Feb, 2024 10:43pm

Forex

Rupee sees minor gain against US dollar

Currency settles at 279.2 in inter-bank market

Updated 26 Feb, 2024 10:28pm

Energy

Consortium expresses ‘firm intention’ to acquire majority stake of Engro Powergen Qadirpur

A consortium comprising of textile companies has expressed its “firm intention” to acquire a majority stake i.e....

Updated 26 Feb, 2024 10:26pm

Markets

PPL’s earnings jump 44%, clock in at Rs69.8bn in 1HFY24

Pakistan Petroleum Limited (PPL), a key supplier of natural gas in the county, saw its profit-after-tax (PAT) jump...

Updated 26 Feb, 2024 10:26pm

USA

Zelensky says Trump siding with Putin on Ukraine aid

WASHINGTON: Ukrainian President Volodymyr Zelensky has accused Donald Trump of siding with Russian leader Vladimir...

Published 26 Feb, 2024 10:21pm

Energy

Greenfield Refinery Project: no material development, says PSO

Pakistan State Oil Company Limited (PSO), the largest oil marketing company in the country, said on Monday that “no...

Updated 26 Feb, 2024 10:15pm

Energy

Oil dips amid cautious interest rate outlook, Mideast tension

LONDON: Oil prices slipped a little on Monday amid speculation that stronger than expected inflation could delay...

Updated 26 Feb, 2024 10:08pm

Pakistan

ECP to conduct open hearing for SIC reserved seats tomorrow

Electoral watchdog has still not notified 23 reserved seats

Updated 26 Feb, 2024 10:08pm

Pakistan

Punjab Assembly: PML-N’s Maryam Nawaz elected chief minister

Becomes Pakistan's first-ever female chief minister

Updated 26 Feb, 2024 09:23pm

Pakistan

PPP’s Murad Ali Shah elected as Sindh CM for third time

Defeats MQM-P’s candidate Ali Khurshidi

Updated 26 Feb, 2024 09:21pm

Middle East

Protest against Gaza war: US airman dies after setting himself on fire outside Israeli embassy

WASHINGTON: A U.S. military service member who had set himself on fire outside the Israeli Embassy in Washington...

Updated 26 Feb, 2024 09:17pm

USA

Trump appeals $355 million ruling in NY civil fraud case

NEW YORK: Donald Trump on Monday appealed a judge’s decision to impose $354.9 million in penalties on the former...

Published 26 Feb, 2024 08:59pm

Technology

Google aims to relaunch Gemini AI image tool in a few weeks

BARCELONA: Google plans to relaunch its AI tool that creates images of people, which it paused last week after...

Published 26 Feb, 2024 08:54pm

Markets

UAE-based conglomerate eyes stake in TPL Trakker’s Middle East subsidiary

A UAE-based conglomerate has expressed interest in acquiring a large equity stake in Trakker Middle East (TME), a...

Updated 26 Feb, 2024 08:42pm

Energy

Thermal assets portfolio: Engro now evaluating conventional sale option

Engro Corporation Limited will not restructure its thermal energy assets under a separate wholly-owned holding...

Updated 26 Feb, 2024 08:16pm

Stocks

US stocks open narrowly high, adding to records

NEW YORK: Wall Street stocks edged higher early Monday ahead of fresh inflation data and a flurry of other economic...

Published 26 Feb, 2024 08:09pm

Europe

Poland willing to ‘co-finance’ Ukraine grain exports to world: PM

WARSAW: Polish leader Donald Tusk said on Monday his country was willing to “co-finance” exports of Ukrainian grain...

Published 26 Feb, 2024 08:08pm

Sports

Medvedev says Australian Open final loss ‘easy’ to get over

DUBAI: Daniil Medvedev said on Monday it was “easy” getting over his Australian Open final defeat by Jannik Sinner,...

Published 26 Feb, 2024 08:06pm

Sports

Guardiola enjoys pressure as Man City face Luton FA Cup test

LONDON: Pep Guardiola said he relishes the pressure at the sharp end of the season as he prepares for the next stage...

Published 26 Feb, 2024 07:31pm

South Asia

India’s Adani unveils defence complex, $362mn investment plan

BENGALURU: Billionaire Gautam Adani’s group plans to invest more than 30 billion rupees ($362.1 million) in the...

Published 26 Feb, 2024 07:22pm

Commodities

Corn, wheat, soy fall as focus returns to big supplies

HAMBURG: Chicago corn, wheat and soybeans fell on Monday, giving up early gains as focus returned to large world...

Published 26 Feb, 2024 06:05pm

Sports

‘Tourist-unfriendly’ India dim England’s ‘Bazball’ aura

RANCHI: India have remained Test cricket’s most tourist-unfriendly destination for over a decade and even England’s...

Published 26 Feb, 2024 06:02pm

Middle East

Israeli delegation heads to Qatar for ceasefire deal push

OCCUPIED JERUSALEM/CAIRO: Israeli officials headed on Monday to Qatar, where Hamas has its political office, to work...

Published 26 Feb, 2024 05:51pm

Luxury

Christian Dior postpones much anticipated Hong Kong show

HONG KONG: French fashion label Christian Dior has postponed its planned mega fashion show in Hong Kong due to be...

Published 26 Feb, 2024 05:44pm

Commodities

Gold trips as markets scale back US rate cut bets ahead of key data

Gold slipped on Monday as markets pared back expectations of the Federal Reserve’s easing cycle and cautiously...

Published 26 Feb, 2024 05:36pm

Middle East

Israel occupation ‘affront to justice’, UN court told

THE HAGUE: The League of Arab States on Monday called Israel’s occupation of Palestinian territories an “affront to...

Published 26 Feb, 2024 05:26pm

Bullion Rate

Gold price per tola increases Rs700 in Pakistan

Gold prices advanced in Pakistan on Monday despite a slight decrease in the international rate. The yellow metal was...

Published 26 Feb, 2024 05:25pm

Stocks

Stock markets mostly lower on profit-taking after tech surge

LONDON: Major Asian and European stock markets mostly retreated Monday, with traders banking profits after last...

Updated 26 Feb, 2024 05:21pm

Companies

DG Khan Cement’s profit plunges 35% in 2QFY24

Despite higher sales, DG Khan Cement Company Limited (DGKCL), one of the largest cement producers in Pakistan, saw...

Published 26 Feb, 2024 05:03pm

Movies & Music

Hotels, flights booked out as ‘Swift effect’ hits Singapore

SINGAPORE: The “Swift effect” is about to hit Southeast Asia but Singapore has left some of its neighbours seeing...

Published 26 Feb, 2024 04:47pm

Stocks

Indian shares fall, weighed down by IT stocks, profit booking

BENGALURU: Indian shares fell on Monday, pulled down by information technology (IT) stocks and as investors likely...

Published 26 Feb, 2024 03:45pm

Life & Style

Mark Zuckerberg to attend Ambani wedding during Asia tour

TOKYO: Meta chief Mark Zuckerberg is reportedly all set to attend the lavish pre-wedding celebrations for Indian...

Updated 26 Feb, 2024 03:30pm

Stocks

Hong Kong stocks close lower

HONG KONG: Hong Kong shares ended lower on Monday as global investors turned to profit-taking after recent rallies...

Published 26 Feb, 2024 02:31pm

Financial

Saudi Arabia’s wealth fund to tap debt market for second time this year

DUBAI: Saudi Arabia’s sovereign wealth fund has hired banks to tap the debt market for the second time this year...

Published 26 Feb, 2024 02:28pm

Stocks

Miners, homebuilders drag UK’s FTSE 100 lower

UK’s FTSE 100 edged lower on Monday as base metal miners lost ground on weak copper prices, while declines in...

Published 26 Feb, 2024 02:24pm

Middle East

Palestinian Prime Minister Shtayyeh resigns

RAMALLAH: Palestinian Prime Minister Mohammad Shtayyeh said on Monday he was resigning to allow for the formation of...

Published 26 Feb, 2024 02:20pm

Stocks

China stocks snap nine-session winning run, HK shares also down

SHANGHAI: China stocks closed down on Monday, after rising for nine consecutive sessions, as investors questioned...

Updated 26 Feb, 2024 02:14pm

Middle East

Hezbollah says it downed Israeli drone over Lebanese territory

BEIRUT: Lebanon’s Hezbollah said on Monday it had downed an Israeli Hermes 450 drone over Lebanese territory with a...

Published 26 Feb, 2024 02:08pm

South Asia

China opposes US sanctions on Chinese companies for Russia-related reasons

BEIJING: China firmly opposes the United States imposing sanctions on Chinese enterprises for Russia-related...

Published 26 Feb, 2024 01:39pm

Stocks

Most Gulf markets ease ahead of inflation tests

Most major stock markets in the Gulf fell in early trade on Monday on market concerns that higher-than-expected...

Published 26 Feb, 2024 01:30pm

Cricket

India beat England by five wickets to clinch series

RANCHI: India accomplished a nervy chase to secure a five-wicket victory against England in the fourth Test on...

Published 26 Feb, 2024 01:25pm

Middle East

Israeli industry minister meets Saudi counterpart at WTO talks in UAE

ABU DHABI: Israeli Economy and Industry Minister Nir Barkat met his Saudi counterpart on the sidelines of a World...

Published 26 Feb, 2024 12:46pm

Stocks

South Korean shares end lower after government’s corporate reform plan

KOSPI closed down 20.62 points, or 0.77%, at 2,647.08

Updated 26 Feb, 2024 12:36pm

Commodities

Japan futures retreat from 7-year high on rising inventories, softer oil prices

SINGAPORE: * Japanese rubber futures fell from a seven-year high on Monday, hurt by a growth in inventories and...

Published 26 Feb, 2024 12:33pm

Opinion

Pakistan’s textile industry embraces ESG practices: Sustainability that lasts

Introduction In a transformative shift, Pakistan’s textile industry is setting new standards for sustainability as...

Updated 26 Feb, 2024 12:30pm

Movies & Music

Barbra Streisand bestowed with SAG lifetime award

LOS ANGELES: Actress, singer, movie director and producer Barbra Streisand was honored on Saturday with the Screen...

Published 26 Feb, 2024 12:21pm

Companies

Disney and India’s Reliance agree merger

NEW DELHI: India’s Reliance Industries has signed a “binding pact” for a merger deal with Walt Disney’s local unit,...

Published 26 Feb, 2024 12:19pm

Movies & Music

George Michael honoured with UK collectible coin

LONDON: Late British singer-songwriter George Michael is being honoured with a personalised collectible coin....

Published 26 Feb, 2024 12:16pm

Financial

JGB yields fall amid slide in US peers, fiscal year-end buying

TOKYO: Japanese government bond (JGB) yields fell to multi-week lows on Monday, pressured by declines in U.S....

Published 26 Feb, 2024 11:53am

Stocks

Nikkei secures all-time closing high as pharma excels

TOKYO: Japan’s Nikkei share average scaled to record highs for the second consecutive session on Monday, supported...

Updated 26 Feb, 2024 11:48am

Financial

India bond yields edge lower as US peers retreat

MUMBAI: Indian government bond yields declined on Monday, tracking a fall in U.S. yields as the market fully priced...

Published 26 Feb, 2024 10:58am

Commodities

Palm falls, weighed down by weak export data

JAKARTA: Malaysian palm oil futures were down on Monday, after posting a weekly gain last week, as subdued exports...

Published 26 Feb, 2024 10:55am

Middle East

Dubai Islamic Bank starts selling 5-year sustainable sukuk

Dubai Islamic Bank, the biggest Islamic lender in the United Arab Emirates, has started selling 5-year sustainable...

Published 26 Feb, 2024 10:53am

Stocks

Asia shares drift lower ahead of inflation feast

SYDNEY: Asian shares stalled near seven-month highs on Monday as investors awaited inflation data from the United...

Published 26 Feb, 2024 10:50am

Commodities

Iron ore falls amid higher China inventories, slow construction

SINGAPORE/BEIJING: Iron ore futures fell on Monday, as higher inventories in key buyer China and slower construction...

Published 26 Feb, 2024 10:44am

Commodities

Corn recovers from 3-year lows, large supplies to keep lid on prices

SINGAPORE: Chicago corn gained ground on Monday, with prices underpinned by short-covering after the market dropped...

Published 26 Feb, 2024 10:41am

Energy

Qatar plans new gas output boost amid global price collapse

DOHA: Qatar will raise natural gas production despite a recent steep drop in global prices, in a long-term bet on...

Published 26 Feb, 2024 10:39am

Europe

Russia finance minister says in talks with China on yuan loans

Russia’s finance ministry has been iscussing with its Chinese counterparts the possibility of taking out loans in...

Published 26 Feb, 2024 10:34am

Middle East

Goldman Sachs, Mubadala ink $1bn private credit Asia-Pacific partnership deal

Goldman Sachs and Abu Dhabi’s sovereign wealth fund Mubadala have struck a $1 billion deal, signing a seperately...

Published 26 Feb, 2024 10:30am

Currency

Yuan softens ahead of US inflation, China manufacturing data

SHANGHAI: China’s yuan inched lower against the dollar on Monday, not far from a key threshold, as markets await a...

Published 26 Feb, 2024 10:27am

Forex

Indian rupee edges higher but oil companies’ dollar demand likely to cap gains

MUMBAI: The Indian rupee rose slightly on Monday on dollar inflows, although month-end demand for the greenback from...

Published 26 Feb, 2024 10:25am

Commodities

Gold off two-week highs as US dollar ticks higher

Gold prices inched lower on Monday pressured by a gaining U.S. dollar, but bullion’s losses were cushioned as...

Published 26 Feb, 2024 10:22am

Commodities

Copper slips on firmer dollar, higher China inventories

BEIJING: Prices of copper opened the week lower on Monday, under pressure from a firmer U.S. dollar ahead of key...

Published 26 Feb, 2024 10:20am

Stocks

Australian shares gain on gold, financials boost; focus on CPI data

Australian shares climbed higher on Monday, lifted by financials and gold miners, while traders braced for key local...

Published 26 Feb, 2024 10:17am

Jewellery sector: ECC forms body to prepare viable plan

The inter-ministerial committee will also prepare viable plan for enhancement of tax collection

Updated 26 Feb, 2024 10:11am

Stocks

Indian shares open lower as financials weigh

BENGALURU: Indian shares opened lower on Monday, dragged by financials, and tracked broader Asian peers as investors...

Published 26 Feb, 2024 10:05am

Currency

Dollar firms ahead of busy data week with US inflation in focus

SINGAPORE: The dollar was on the front foot on Monday ahead of a packed week filled with key economic releases that...

Published 26 Feb, 2024 10:01am

Humanitarian aid sent to Gaza

ISLAMABAD: Pakistan on Sunday dispatched seventh tranche of humanitarian assistance for Gaza, consisting of ...

Updated 26 Feb, 2024 09:50am

Gazette notifications of some winning NA candidates still pending

ISLAMABAD: As the cut-off date of February 29 for the President to summon the new National Assembly session nears,...

Updated 26 Feb, 2024 09:49am

Jhimpir wind project: SIFC asks Nepra, PPIB to resolve issues

ISLAMABAD: The Special Investment Facilitation Council (SIFC) Secretariat has reportedly pushed the National...

Updated 26 Feb, 2024 09:49am

Sindh assembly: Awais elected speaker, Anthony deputy speaker

KARACHI: The Sindh Assembly on Sunday elected Syed Awais Qadir Shah as its 16th Speaker and Anthony Naveed as Deputy...

Updated 26 Feb, 2024 09:48am

New imported vehicles: IPO amended

ISLAMABAD: The government has amended Import Policy Order (IPO), 2022, to declare that new imported new cars/...

Updated 26 Feb, 2024 09:47am

BR Research

Do it like Indus Motors

Factory-wide shutdowns due to now long-running supply constraints, still steep prices, and a resulting decline in...

Published 26 Feb, 2024 09:16am

BR Research

PRL - Expansion on the way

Pakistan Refinery Limited (PSX: PRL) announced a whopping increase in its earnings for 1HFY24 where its profit after...

Published 26 Feb, 2024 09:13am

BR Research

International Industries Limited

International Industries Limited (PSX: INIL) was incorporated in Pakistan in 1948. The principal activity of the...

Published 26 Feb, 2024 09:10am

Recovery from Discos thru account attachments: IHC seeks names of LTO officers

ISLAMABAD: The Islamabad High Court (IHC) has taken serious notice of the persistent breach of its orders in the...

Updated 26 Feb, 2024 09:04am

Developing world: WTO launches $50m fund for female entrepreneurs

ABU DHABI: The director general of the World Trade Organisation, Ngozi Okonjo-Iweala, on Sunday launched a $50...

Updated 26 Feb, 2024 09:04am

Health, education critical for women’s empowerment: Alvi

ISLAMABAD: President of Pakistan Dr Arif Alvi has said that the provision of health and education facilities is...

Updated 26 Feb, 2024 09:03am

Sporting events: Cabinet allows PTV to make payments to Indian broadcasters

ISLAMABAD: The caretaker cabinet has allowed the Pakistan Television Corporation (PTVC) to make payments to Indian...

Updated 26 Feb, 2024 09:03am

Kharian-Pindi Motorway: NHA recommends PC-1

ISLAMABAD: The National Highway Authority (NHA) Executive Board recommended the PC-I for the approval of Central...

Updated 26 Feb, 2024 09:03am

BR’s refresher: your morning briefing for the day

Important updates from February 24 and February 25, 2024

Published 26 Feb, 2024 09:02am

Opinion

FDI: challenges and the way forward

An essential component of a robust and open economic system, Foreign Direct Investment (FDI) serves as a crucial...