News Archives for Latest - 2024-02-28

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Archive - 2024-02-28

World

Bakeries smashed in Israel bombardment key to Gaza hunger crisis

GAZA: The rubble and twisted metal of Kamel Ajour’s smashed-up Gaza bakery underscores one reason starving people in...

Published 28 Feb, 2024 11:09pm

Pakistan

6 terrorists killed in IBO in North Waziristan District: ISPR

Weapons, ammunition and explosives were also recovered from the killed terrorists, the military's media wing says

Published 28 Feb, 2024 11:00pm

World

G7 finance meeting marred by divisions over seizing Russian assets

SAO PAULO: French Finance Minister Bruno Le Maire on Wednesday publicly challenged U.S. Treasury Secretary Janet...

Published 28 Feb, 2024 10:57pm

Sports

PSL 2024 day 12 round-up: Munro, bowlers give Islamabad United second win

Collin Munro’s blistering 82 helped Islamabad United beat Karachi Kings by 7 wickets in the 15th match of the...

Updated 28 Feb, 2024 10:50pm

Middle East

Gaza death toll nears 30,000 as aid groups warn of ‘imminent’ famine

GAZA STRIP: The reported Palestinian death toll neared 30,000 Wednesday as Israeli aggression continued in the...

Updated 28 Feb, 2024 10:39pm

Pakistan

Nawaz says Shehbaz 'best choice' for premiership in current circumstances

We will have to make some painful decisions in next two years, PML-N supremo says

Updated 28 Feb, 2024 10:37pm

Stocks

Bulls return to PSX as KSE-100 closes nearly 500 points higher

Corporate results, political clarity on formation of govt keep investors interested

Updated 28 Feb, 2024 10:30pm

Pakistan

In letter to IMF, PTI urges lender to consider Pakistan’s ‘political instability’ in talks: report

Pakistan is currently enrolled in a $3-billion Stand-By Arrangement with the IMF with one review pending

Updated 28 Feb, 2024 10:29pm

Companies

Reliance, Disney to merge India media assets to create $8.5bn powerhouse

NEW DELHI: India’s top conglomerate Reliance Industries and Walt Disney on Wednesday announced the merger of their...

Updated 28 Feb, 2024 10:17pm

Pakistan

Speaker summons NA session at 10am tomorrow

Decision made after President Dr Arif Alvi refused to sign the summary convening the maiden session

Updated 28 Feb, 2024 10:11pm

Pakistan

ECP reserves verdict on allocation of reserved seats

Hears petitions filed by Sunni Ittehad Council seeking allocation of women and minority seats

Updated 28 Feb, 2024 10:10pm

Forex

Rupee strengthens against US dollar

Currency settles at 279.12 in inter-bank market

Updated 28 Feb, 2024 09:56pm

Pakistan

Army chief Gen Asim Munir meets ASP Shehrbano Naqvi

COAS praises the officer for her selfless devotion to duty and saving women from the difficult milieu of Ichhra Bazaar in Lahore

Updated 28 Feb, 2024 09:51pm

Sports

Murray ‘not likely’ to play past summer

DUBAI: Former world number one Andy Murray said on Wednesday he is “likely not going to play competitive tennis past...

Published 28 Feb, 2024 09:21pm

Europe

Poland mulling ‘temporary’ border closure with Ukraine for goods

WARSAW: Polish Prime Minister Donald Tusk said Wednesday the government was mulling a “temporary” closure of the...

Published 28 Feb, 2024 08:27pm

Money & Banking

BankIslami records 137% jump in profit during 2023

BankIslami Pakistan Limited (BIPL) posted a massive consolidated profit after tax of Rs10.61 billion in 2023, which...

Updated 28 Feb, 2024 08:21pm

Stocks

US stocks dip after fourth-quarter growth data

NEW YORK: Wall Street stocks retreated early Wednesday following data showing a slight downgrade to fourth-quarter...

Published 28 Feb, 2024 08:20pm

Sports

India’s in-form trio handed upgraded contracts

NEW DELHI: Three India players had their contracts upgraded Wednesday by the national cricket board after stellar...

Published 28 Feb, 2024 08:05pm

Pakistan

Balochistan MPAs take oath

Zamrak Khan Piralizai administers oath to the lawmakers

Updated 28 Feb, 2024 07:24pm

Pakistan

KPK assembly members take oath amid ruckus

Speaker Mushtaq Ahmad Ghani administers oath to newly-elected members

Updated 28 Feb, 2024 07:17pm

Stocks

Sri Lanka shares end higher as consumer staples, industrials gain

CSE All-Share index settled 0.52% higher at 10,678.30

Published 28 Feb, 2024 06:24pm

Sports

Sri Lanka picks suspended skipper for Bangladesh tour

COLOMBO: Sri Lanka’s cricket board Wednesday named a 17-man T20 squad headed by suspended skipper Wanindu Hasaranga...

Published 28 Feb, 2024 06:22pm

Arts

Works of Pakistani artists, including Sadequain, set to feature at Art Dubai 2024

Three-day fair with focus on sustainability, communities will open to public from March 1-3 at Madinat Jumeirah

Updated 28 Feb, 2024 06:08pm

Energy

Oil falls 1% on Fed rate cut caution and stocks build

LONDON: Oil prices pulled back on Wednesday as the prospect of delays to U.S. interest rate cuts and a jump in U.S....

Updated 28 Feb, 2024 06:05pm

Pakistan

Interim PM appears before IHC in missing Baloch students case

Caretaker Prime Minister Anwaar-ul-Haq Kakar appeared on Wednesday before the Islamabad High Court (IHC) in the...

Updated 28 Feb, 2024 05:22pm

Commodities

Gold price per tola falls Rs1,100 in Pakistan

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

Published 28 Feb, 2024 05:03pm

Technology

Google CEO slams ‘completely unacceptable’ Gemini AI errors

SAN FRANCISCO: Google CEO Sundar Pichai on Tuesday slammed “completely unacceptable” errors by its Gemini AI app,...

Published 28 Feb, 2024 05:14pm

Stocks

Stocks drop before inflation data, as bitcoin nears $60,000

LONDON: Major stock markets dropped Wednesday as investors digested corporate news and awaited key inflation...

Updated 28 Feb, 2024 05:09pm

South Asia

China’s Premier Li urges stronger economic, trade ties with US

BEIJING: China and the United States should strengthen economic and trade ties and Washington should avoid...

Published 28 Feb, 2024 05:05pm

Europe

Use Russian asset profits to arm Ukraine: EU chief

STRASBOURG: European Commission chief Ursula von der Leyen called on Wednesday for profits from Russian assets...

Updated 28 Feb, 2024 05:01pm

Financial

Abu Dhabi sovereign fund to invest space tech, AI this year

ABU DHABI: Abu Dhabi’s Mubadala Investment Co will deploy significant capital into artificial intelligence and space...

Published 28 Feb, 2024 04:49pm

Companies

Uday Shankar to be vice chair of India’s merged Reliance-Disney media business

NEW DELHI: Former Walt Disney executive Uday Shankar will be named as vice chairman of the board following a merger...

Published 28 Feb, 2024 04:44pm

Stocks

India Nifty 50 posts worst day in five weeks on profit-booking ahead of key data

BENGALURU: Indian blue-chip index Nifty 50 posted its biggest drop in five weeks on Wednesday and small- and...

Published 28 Feb, 2024 04:40pm

Commodities

Copper held down by China’s property woes and strong dollar

LONDON: Copper prices resumed their downward path on Wednesday, weighed down by a stronger dollar and more bad news...

Published 28 Feb, 2024 04:37pm

Movies & Music

‘Jamun Ka Darakht’ wins best Social Justice Short Film at World Film Festival in Cannes

Pakistani film ‘Jamun Ka Darakht’ won the Best Social Justice Short Film at the World Film Festival in Cannes, it...

Published 28 Feb, 2024 04:33pm

Commodities

Palm oil snaps three days of gains on weak Chicago soyoil, export data

JAKARTA: Malaysian palm oil futures fell on Wednesday, snapping three sessions of gains, weighed down by softer...

Published 28 Feb, 2024 04:33pm

Technology

Bitcoin eyes $60,000 in biggest monthly rally since late 2020

LONDON: Bitcoin surged for a fifth day on Wednesday to near $60,000, buoyed by flows into new US spot bitcoin...

Published 28 Feb, 2024 03:08pm

Europe

Alexei Navalny’s funeral to be held on Friday in Moscow

MOSCOW: Russian opposition leader Alexei Navalny’s funeral service and burial will take place in Moscow on Friday,...

Published 28 Feb, 2024 03:03pm

Luxury

Saint Laurent reins in volumes with sheer, fitted looks at Paris Fashion Week

PARIS: Saint Laurent designer Anthony Vaccarello trimmed down the label’s silhouettes for winter, tightly wrapping...

Published 28 Feb, 2024 02:38pm

Stocks

Most Gulf markets ease ahead of US inflation data

Most major stock markets in the Gulf were subdued in early trade on Wednesday, ahead of a US inflation reading this...

Published 28 Feb, 2024 01:53pm

South Asia

Four dead, two injured in landslide at NMDC’s Chhattisgarh mine

NEW DELHI/BENGALURU: Four people were killed and two injured in a landslide at NMDC’s iron ore mine in Dantewada in...

Published 28 Feb, 2024 01:48pm

Cotton & Textile

Nishat Mills’ profit falls 30% in 1HFY24 as rising costs bite

Nishat Mills Limited (NML), the flagship company of Nishat Group, saw its profit-after-tax plunge by 30%, clocking...

Published 28 Feb, 2024 01:43pm

Stocks

London stocks fall as earnings disappoint

UK shares fell on Wednesday, dragged by a raft of dismal earnings updates, including from Reckitt and St. James’s...

Published 28 Feb, 2024 01:40pm

South Asia

With handouts, piped water and cooking gas, India’s Modi woos women voters

BHOPAL: Living in a slum in central India with her widowed mother and two young daughters, Nayantara Gupta says she...

Updated 28 Feb, 2024 01:23pm

South Asia

New sanctions threaten Russian oil sales to India

NEW DELHI/SINGAPORE: Fresh US sanctions on Moscow threaten to dent Russian oil sales to India, the biggest buyer of...

Published 28 Feb, 2024 12:54pm

Forex

South African rand slips against dollar

JOHANNESBURG: South Africa’s rand slipped early on Wednesday and was set to take cues from the dollar in the absence...

Published 28 Feb, 2024 12:50pm

South Asia

Iran gears up for elections dominated by conservatives

TEHRAN: Iranians will cast ballots in legislative and key assembly elections on Friday, with conservatives expected...

Published 28 Feb, 2024 12:39pm

Sports

Injured New Zealand batsman Conway out of first Australia Test

WELLINGTON: New Zealand opening batsman Devon Conway has been ruled out of the first Test against Australia, captain...

Published 28 Feb, 2024 12:33pm

Real Estate

Country Garden faces winding-up petition in Hong Kong

HONG KONG: A petition to wind up debt-hit Country Garden has been filed in a Hong Kong court, the company said...

Published 28 Feb, 2024 12:32pm

Sports

India fast bowler Shami out of IPL after Achilles surgery

CHENNAI: Pace bowler Mohammed Shami is out of this year’s Indian Premier League after having surgery on his Achilles...

Published 28 Feb, 2024 12:19pm

Sports

Top seed Zverev crashes out of Mexico Open first round

ACAPULCO: Top seed Alexander Zverev tumbled out of the Mexico Open at the first hurdle on Tuesday, eliminated by...

Published 28 Feb, 2024 12:16pm

Europe

Volodymyr Zelensky to rally for support, weapons at Albania security meet

TIRANA: Ukrainian President Volodymyr Zelensky is due to meet with leaders from southeast Europe in Albania on...

Published 28 Feb, 2024 12:13pm

Middle East

US aircraft, coalition ship shoot down five Houthi attack drones in Red Sea

CAIRO: The US Central Command (CENTCOM) said US aircraft and a coalition warship on Feb. 27 shot down five one-way...

Published 28 Feb, 2024 12:09pm

Forex

Indian rupee may struggle on repeated failure at resistance, weak Asian peers

MUMBAI: The Indian rupee is expected to be under some pressure on Wednesday on the back of losses in Asian peers and...

Published 28 Feb, 2024 12:06pm

World

IMF chief Georgieva says focused on job at hand, not future role

SAO PAULO: With just seven months to go in Kristalina Georgieva’s five-year term as head of the International...

Published 28 Feb, 2024 12:05pm

Sports

US to host Brazil for friendly ahead of Copa America

The United States men’s national soccer team will host Brazil in an international friendly as part of their...

Published 28 Feb, 2024 12:03pm

Commodities

Copper flat as rising stockpiles offset mine supply tightness

Copper prices were range-bound on Wednesday as a spike in inventories in Chinese exchange warehouses offset...

Published 28 Feb, 2024 12:00pm

Forex

China’s yuan slips under economic pressure; US data in focus

HONG KONG: China’s yuan weakened slightly against the dollar on Wednesday as the country continued to face...

Published 28 Feb, 2024 11:59am

Commodities

Palm oil rises for fourth day on stronger rival oils

JAKARTA: Malaysian palm oil futures extended gains to a fourth straight session on Wednesday, tracking strength in...

Published 28 Feb, 2024 11:58am

Mutual Funds

JGB yields track US peers higher, BOJ policy shift speculation weighs

TOKYO: Japanese government bond (JGB) yields rose on Wednesday, tracking overnight US Treasury yields higher, with...

Published 28 Feb, 2024 11:57am

Stocks

Asian shares meander as US inflation test awaits; kiwi slides

SINGAPORE: Asian stocks were tentative on Wednesday ahead of a US inflation reading this week that could influence...

Published 28 Feb, 2024 11:47am

Commodities

Soybeans rise despite pressure from South American supply

CANBERRA: Chicago soybean futures rose on Wednesday but remained near their lowest levels since November 2020, as...

Published 28 Feb, 2024 11:34am

Sports

Anhelina Kalinina advances at ATX Open

No. 1 seed Anhelina Kalinina of Ukraine faced little resistance on Tuesday, cruising to a 6-3, 6-2 sweep of Czech...

Published 28 Feb, 2024 11:32am

Sports

Mauricio Pochettino asks Chelsea owners to be patient

Manager Mauricio Pochettino implored Chelsea’s owners to be patient and afford him the time needed to get back to...

Published 28 Feb, 2024 11:29am

Companies

Toyota’s global output rises by 7% in January

TOKYO: Japan’s Toyota Motor said on Wednesday global vehicle production rose by 7% in January, marking a...

Published 28 Feb, 2024 11:28am

Commodities

China lithium carbonate futures hit 11-week high

BEIJING: China’s lithium carbonate futures on the Guangzhou Futures Exchange hit an 11-week high on Wednesday, amid...

Published 28 Feb, 2024 11:22am

Mutual Funds

Indian bond traders await fresh cues, yields move sideways

MUMBAI: Indian government bond yields continued to move sideways on Wednesday, as traders awaited fresh triggers,...

Published 28 Feb, 2024 11:17am

USA

Donald Trump, Biden win Michigan primaries but Democrats mount Gaza protest vote

DEARBORN: US President Joe Biden easily won the Democratic presidential primary in Michigan on Tuesday, but a...

Published 28 Feb, 2024 11:13am

Stocks

China, Hong Kong stocks fall on property concerns

SHANGHAI: China stocks retreated on Wednesday, with some investors booking profit after a recent rally led by policy...

Published 28 Feb, 2024 10:53am

Energy

Global LNG demand seen rising in 2024 from China, Europe

KUALA LUMPUR: Global liquefied natural gas (LNG) demand will grow in 2024 with top buyer China back in the market...

Published 28 Feb, 2024 10:51am

Forex

Asian currencies edge lower, stocks mixed ahead of US inflation data

Most Asian currencies inched lower on Wednesday while equities were largely mixed as traders remained cautious ahead...

Published 28 Feb, 2024 10:47am

Europe

Ukraine says it destroys all 10 drones Russia launched

Ukraine’s air defence systems destroyed all 10 attack drones Russia launched overnight, Ukraine’s air force said on...

Published 28 Feb, 2024 10:40am

Bullion Rate

Gold prices steady as lower yields counter stronger dollar

Gold prices steadied on Wednesday, as lower US Treasury yields partially offset a firmer dollar, while traders...

Published 28 Feb, 2024 10:23am

Austerity committee created

ISLAMABAD: The government has created an austerity committee to be headed by the caretaker finance minister with...

Updated 28 Feb, 2024 10:16am

Nepra, Ogra laws to be amended: Trying to insulate regulators from govt interference

Decision taken at the latest meeting of Cabinet Committee on Energy which has also been ratified by the caretaker Federal Cabinet

Updated 28 Feb, 2024 10:16am

Six months: Centre transfers Rs2,435.349bn to provinces

ISLAMABAD: The federal government has transferred Rs2,435.349 billion to the provinces during the first six months...

Updated 28 Feb, 2024 10:14am

Energy sector revolving debt has reached Rs5,422bn: minister

ISLAMABAD: Caretaker Energy Minister Muhammad Ali on Tuesday said that total revolving debt of the energy sector is...

Updated 28 Feb, 2024 10:12am

Stocks

Australian shares inch lower as banks weigh; US inflation data in focus

Australian shares inched lower on Wednesday after a four-session winning run, as losses in financials outweighed...

Published 28 Feb, 2024 10:08am

Opinion

Healing, not dealing, for civilian supremacy

In his very first speech after taking over the mantle in 1971 of what remained of Jinnah’s Pakistan, Zulfikar Ali...

Updated 28 Feb, 2024 10:06am

Stocks

Japan’s Nikkei hovers below record high as rally pauses for breath

TOKYO: Japan’s Nikkei share average eased back on Wednesday from an all-time peak scaled in the previous session,...

Published 28 Feb, 2024 10:06am

Business & Finance

Petrol prices may be hiked by Rs3.50

ISLAMABAD: The interim government may opt for back-to-back hikes in ex-depot petroleum products prices. This time...

Updated 28 Feb, 2024 10:04am

Stocks

Indian shares set for muted start tracking Asian peers

BENGALURU: Indian shares are set for a muted opening on Wednesday, tracking broader Asian peers ahead of key US...

Published 28 Feb, 2024 10:02am

Forex

Dollar firm with eyes on PCE data, kiwi calm before RBNZ decision

TOKYO: The US dollar held steady as traders brushed off durable goods data overnight and awaited the Federal...

Published 28 Feb, 2024 09:53am

Pakistan

CPJ urges govt to ‘unconditionally’ release Toor

NEW YORK: Pakistan’s Federal Investigation Agency arrested independent journalist Asad Ali Toor on Monday after he...

Updated 28 Feb, 2024 09:43am

Presidential election schedule to be announced on March 1: ECP yet to decide SIC reserved seats issue

ISLAMABAD: With the matter involving the allocation of several reserved seats in the three Assemblies pending before...

Updated 28 Feb, 2024 09:20am

Conduct of business of banks: FTO has no jurisdiction to probe legality: IHC

ISLAMABAD: The Islamabad High Court (IHC) has declared that the Federal Tax Ombudsman (FTO) cannot assume the powers...

Updated 28 Feb, 2024 09:19am

BR Research

Dear rentiers, meet corn exports

According to SBP, Corn (maize) has become one of the largest exported commodities (HS code 4-digit) excluding...

Published 28 Feb, 2024 09:13am

BR Research

DGKC: Rise and fall

As a major player in the cement industry with plants located in both the north and south zones, if DG Khan Cement...

Published 28 Feb, 2024 09:11am

BR Research

Din Textile Mills Limited

Din Textile Mills Limited (PSX: DINT) was incorporated in Pakistan in 1988. The company is engaged in the...

Published 28 Feb, 2024 09:08am

Discos: Govt refuses to appoint IFC as TA of privatisation

ISLAMABAD: The caretaker government has reportedly refused to appoint International Finance Corporation (IFC) as the...

Updated 28 Feb, 2024 08:58am

Ministry issues guidelines for PSDP 2024-25

ISLAMABAD: Ministry of Planning, Development and Special Initiatives has issued guidelines for Public Sector...

Updated 28 Feb, 2024 08:56am

Large steel sector’s value chain: EDB to furnish report on energy costs in coordination with ministries

ISLAMABAD: The country’s steel industry has backed out from its demand of creation of “distinct category” regarding...

Updated 28 Feb, 2024 08:56am

Ban on vehicles, machinery, equipment buying imposed

ISLAMABAD: The Finance Division has imposed a ban on purchase of vehicles, machinery, and equipment, and creation of...

Updated 28 Feb, 2024 08:56am

Zakat contributions: SECP issues new accounting standards for NPOs

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has issued new accounting standards for the...

Updated 28 Feb, 2024 08:54am

BR’s refresher: your morning briefing for the day

Important updates from February 27, 2024

Published 28 Feb, 2024 08:53am

Opinion

Business strategy in downtimes

Business environment has been uncertain and unsure. That was to be. Any country before the elections is naturally...