News Archives for Latest - 2024-02-29

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Archive - 2024-02-29

Sports

PSL 2024 day 13: Rutherford stars as Quetta win last-ball thriller against Karachi

Sherfane Rutherford starred with the bat as Quetta Gladiators beat Karachi Kings by five wickets in the 16th match ...

Updated 01 Mar, 2024 12:00am

Business & Finance

Caretaker govt hikes petrol price by Rs4.13, takes it to Rs279.75 per litre

New prices to take effect from March 01, 2024

Published 29 Feb, 2024 11:41pm

Business & Economy

China rolls over $2bn loan to Pakistan, says caretaker finance minister

ISLAMABAD: China has rolled over a $2-billion loan to Pakistan, caretaker finance minister Shamshad Akhtar confirmed...

Updated 29 Feb, 2024 11:13pm

Markets

In response to question on PTI letter, US urges Pakistan’s new govt to continue working with IMF

State Dept spokesperson says policies over the next several months will be crucial for the country

Updated 29 Feb, 2024 11:13pm

Markets

India’s basmati rice exports to fall as Pakistan’s surge

MUMBAI: India’s basmati rice exports are likely to fall in 2024 after nearing a record high last year, as rival...

Updated 29 Feb, 2024 11:12pm

Forex

SBP-held foreign exchange reserves fall below $8bn

Debt repayments and lack of fresh inflows put pressure on dollar stockpile

Updated 29 Feb, 2024 11:12pm

Pakistan

Newly elected MNAs take oath in 16th National Assembly maiden session

Speaker Raja Pervaiz Ashraf adjourns session till 10am Friday following ruckus

Updated 29 Feb, 2024 11:11pm

World

UN chief condemns deaths in Gaza while waiting for ‘life-saving aid’

UNITED NATIONS: United Nations Secretary-General Antonio Guterres condemned a deadly incident in northern Gaza on...

Published 29 Feb, 2024 11:10pm

Stocks

Bullish run continues at PSX, KSE-100 up nearly 1.4%

The buying spree comes after China rolled over a $2 billion loan to Pakistan

Updated 29 Feb, 2024 10:30pm

Middle East

Gaza health authorities say Israeli fire kills 104 waiting for aid

Death toll in nearly five months of war passes 30,000 Palestinians

Updated 29 Feb, 2024 10:29pm

Business & Finance

Special Technology Zones: deal signed to build 36-storey skyscraper in Lahore

An agreement has taken place to build a 36-storey technology tower worth around $70 million in Lahore with the...

Published 29 Feb, 2024 10:22pm

Life & Style

TikTok make-up influencers spark health warnings

PARIS: Pressed by parents to pose in videos with make-up and skincare products, pre-teen girls dubbed “Sephora Kids”...

Updated 29 Feb, 2024 09:13pm

Movies & Music

Ignored by ‘Oppenheimer,’ atomic test victims speak out

WHITE SANDS, United States: Wesley Burris was fast asleep in bed when the world’s first atomic bomb exploded just 25...

Published 29 Feb, 2024 09:05pm

Energy

Global oil demand to grow by 1.9ln bpd in 2024, says Wood Mac

LONDON: Global oil demand will grow by 1.9 million barrels per day (bpd) this year, according to a prediction by...

Published 29 Feb, 2024 08:56pm

Pakistan

ECP appoints five presiding officers for presidential election

Officers will receive nomination papers from candidates and chair meetings of the Parliament at the Parliament House

Updated 29 Feb, 2024 08:16pm

Stocks

Wall St rises after in-line inflation data fuels rate cut hopes

Wall Street’s main indexes rose on Thursday as a key inflation metric came in line with estimates, raising hopes of...

Published 29 Feb, 2024 08:12pm

Markets

Turkiye central bank reserves fall partly due to energy import payments, traders say

ANKARA: A $6 billion decline in Turkish Central Bank net reserves to $22.45 billion last week was in part due to...

Published 29 Feb, 2024 08:05pm

Stocks

Gulf bourses end mixed ahead of US inflation data

Stock markets in the Gulf were mixed in early trade on Thursday ahead of key U.S. inflation data, which is likely to...

Published 29 Feb, 2024 07:37pm

Energy

Oil prices steady as US data keeps June rate cuts on the table

LONDON: Oil prices were little changed Thursday as January U.S. inflation data reinforced expectations for a June...

Updated 29 Feb, 2024 07:32pm

Middle East

Palestinian Authority receives $114mn from Israel, Norway says

OSLO: The Palestinian Authority has received 407 million shekels ($114 million) from Israel with more funds on the...

Published 29 Feb, 2024 07:29pm

Europe

Poland signs $2.5 billion air defence deal with United States

WARSAW: Poland signed an agreement worth more than $2.5 billion with the United States for the delivery of an...

Published 29 Feb, 2024 07:18pm

Sports

Liverpool announce £9mn loss for 2022/23 season

LONDON: Liverpool made a pre-tax loss of £9 million ($11.4 million) last season as increased commercial income...

Published 29 Feb, 2024 06:21pm

Forex

Rupee remains stable against US dollar

Currency settles at 279.11 against the US dollar

Updated 29 Feb, 2024 05:52pm

Europe

Turkiye receives US draft letters approving F-16 jets deal

ANKARA: The United States has sent Turkiye draft letters of offer and acceptance regarding its request to buy...

Published 29 Feb, 2024 05:52pm

Energy

Kuwait fuel oil exports rise for second month as Al Zour ramps up

SINGAPORE: Kuwait’s fuel oil exports rose for a second month in February, according to shiptracking data from Kpler...

Published 29 Feb, 2024 05:43pm

Business & Economy

Restrictive monetary policy, limited fiscal space challenging Pakistan’s economy: Ministry of Finance

In monthly economic report, it projects CPI-based inflation for February to hover around 24.5-25.5%

Published 29 Feb, 2024 05:20pm

Stocks

Indian shares recover from muted start; key economic data in focus

BENGALURU: Indian shares struggled for direction for most of the session on Thursday, logging gains at the close on...

Published 29 Feb, 2024 05:29pm

Stocks

Sri Lankan shares end lower as financials weigh

CSE All Share index settled 0.25% lower at 10,651.77

Published 29 Feb, 2024 05:27pm

Commodities

Nickel hits more than two-month high as investors eye Indonesia

LONDON: Nickel prices touched their highest in more than two months on Thursday as some investors bet that a slide...

Published 29 Feb, 2024 05:25pm

Movies & Music

Ryan Gosling, Billie Eilish, Osage singers to perform at Oscars

LOS ANGELES: Ryan Gosling is definitely Kenough to sing live at the Oscars. Gosling, the Academy Award-nominated...

Published 29 Feb, 2024 05:23pm

Commodities

Palm ends higher on rival oils while traders await major industry conference

JAKARTA: Malaysian palm oil futures closed up on Thursday, tracking strength in rival oils, while the market is...

Published 29 Feb, 2024 05:22pm

Commodities

Gold price per tola increases Rs900 in Pakistan

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

Published 29 Feb, 2024 05:03pm

Pakistan

Rain emergency: CM announces half day for Karachi offices on Friday

Met office forecasts rain with thunderstorm on Friday

Updated 29 Feb, 2024 04:54pm

Luxury

Swiss watchmaker Rolex cements place as number 1 luxury brand, sales top $10bn: report

Analysts at Morgan Stanley say market share 'unprecedented'

Published 29 Feb, 2024 04:30pm

Luxury

Mukesh Ambani, Asia’s richest man, launches lavish pre-wedding party in India

NEW DELHI: India’s richest man has kicked off lavish pre-wedding parties for his son by feeding more than 50,000...

Updated 29 Feb, 2024 04:25pm

Pakistan

KPK, Balochistan Assemblies elect speakers

Sunni Ittehad Council’s Babar Salim Swati elected as the new KPK speaker, while PML-N's Abdul Khaliq Achakzai was elected speaker of the Balochistan Assembly

Updated 29 Feb, 2024 03:32pm

Sports

Jasprit Bumrah back for India’s final Test v England, Rahul still recovering

NEW DELHI: Pace spearhead Jasprit Bumrah will reunite with the India team for the fifth and final Test against...

Published 29 Feb, 2024 03:07pm

Europe

Vladimir Putin warns of nuclear war risk if NATO troops are sent to Ukraine

MOSCOW: Russian President Vladimir Putin told NATO countries on Thursday they risked nuclear conflict if they sent...

Updated 29 Feb, 2024 02:58pm

Markets

JS Bank records 853% jump in profit in 2023

JS Bank Limited (JSBL) posted massive earnings of Rs10.39 billion ($36.85 million) in 2023, up over 853% from the...

Published 29 Feb, 2024 02:49pm

Asia

Mark Zuckerberg, South Korea’s President Yoon talk AI cooperation

SEOUL: Meta chief Mark Zuckerberg met South Korea’s President Yoon Suk Yeol in Seoul Thursday and discussed...

Published 29 Feb, 2024 02:45pm

Business & Finance

British Airways owner says 2023 profit soars six-fold

LONDON: British Airways parent IAG announced Thursday that net profit surged six-fold last year, boosted by “strong”...

Published 29 Feb, 2024 02:38pm

Sports

Saudi football body suspends, fines Ronaldo over gesture

RIYADH: Saudi Arabia’s football governing body on Thursday suspended Cristiano Ronaldo for one game over a gesture...

Published 29 Feb, 2024 02:34pm

Stocks

European shares rise ahead of US inflation data

European shares opened slightly higher on Thursday, led by gains in materials stocks, while investors brace for key...

Published 29 Feb, 2024 02:29pm

Movies & Music

Deepika Padukone and Ranveer Singh expecting first child

Bollywood power-duo Deepika Padukone and Ranveer Singh are expecting their first child, the couple announced on...

Published 29 Feb, 2024 02:14pm

Business & Finance

Turkiye GDP grew 4.5% in 2023 on strong demand; slowdown coming

ISTANBUL: Turkiye economy grew 4.5% last year and 4.0% in the fourth quarter, data showed on Thursday, beating...

Published 29 Feb, 2024 01:48pm

PPIB may extend FC date of Gwadar power plant today

ISLAMABAD: The Board of Private Power & Infrastructure Board (PPIB) scheduled to meet on Thursday (today) is to...

Updated 29 Feb, 2024 01:45pm

Stocks

London stocks inch up on earnings bump

UK shares edged higher on Thursday on a boost from a slew of positive earnings reports, including from Haleon and...

Published 29 Feb, 2024 01:45pm

Finance minister’s slot: New govt may not accept non-party technocrat

ISLAMABAD: Pakistan Muslim League (PML-N)-led coalition government may be reluctant to accept a non-party technocrat...

Updated 29 Feb, 2024 01:44pm

USA

US Supreme Court to decide Trump criminal immunity claim in 2020 election case

WASHINGTON: The U.S. Supreme Court on Wednesday agreed to decide Donald Trump’s claim of immunity from prosecution...

Published 29 Feb, 2024 12:47pm

World

Dubai’s economy shows no signs of slowing even as world ‘contends with uncertainty, subdued growth’

Dubai’s government has always been very optimistic and ambitious regarding the future of the emirate, says one expert

Updated 29 Feb, 2024 12:44pm

Technology

Japan’s SoftBank cuts stake in India’s Paytm to under 3%

BENGALURU: Japan’s SoftBank Group, opens new tab has further reduced its stake in beleaguered Indian payments firm...

Published 29 Feb, 2024 12:41pm

Business & Finance

Reliance-Disney India merger draws Nita Ambani back to business spotlight

NEW DELHI: The Reliance-Disney India merger has attracted Nita Ambani, wife of Reliance boss Mukesh Ambani, back...

Published 29 Feb, 2024 12:38pm

Europe

Russian opposition flickers with support for jailed Navalny protester

LONDON: One person approached the Russian protester and shook his hand, thanking him for his courage. Another headed...

Published 29 Feb, 2024 12:34pm

Asia

Thailand to ban recreational cannabis use by year-end, health minister says

BANGKOK: Thailand will ban recreational use of marijuana by the end of this year but continue to allow its use for...

Published 29 Feb, 2024 12:30pm

Business & Finance

Air France-KLM post record profits, revenue despite tough end to 2023

PARIS: Air France-KLM announced Thursday a record net profit of 934 million euros ($1.01 billion) for 2023, despite...

Published 29 Feb, 2024 11:43am

Sports

Cameron Green century steers Australia to 279-9 in first New Zealand Test

WELLINGTON: Cameron Green slammed only his second Test century Thursday to steer Australia to 279-9 at stumps on the...

Published 29 Feb, 2024 11:40am

Forex

Australia, NZ dollars unloved as markets say goodbye to rate hikes

SYDNEY: The New Zealand dollar nursed losses on Thursday as markets priced out almost any chance of further rate...

Published 29 Feb, 2024 11:29am

Commodities

Soybeans fall as Brazil pours supply into market

CANBERRA: Chicago soybean futures fell on Thursday and hovered just above three-year lows as the ongoing harvest in...

Published 29 Feb, 2024 11:16am

Commodities

Vietnam Jan-Feb coffee exports up 16.2% y/y at 398,000 T

HANOI: Vietnam exported 398,000 metric tons of coffee in the first two months of 2024, up 16.2% from a year earlier,...

Published 29 Feb, 2024 11:14am

Europe

Russia says its troops enter village in southern Ukraine

Russian troops have entered the village of Robotyne in Ukraine’s southern Zaporizhzhia region, the focal point of...

Published 29 Feb, 2024 11:12am

Bullion Rate

Gold prices steady as traders brace for US inflation data

Gold prices held ground on Thursday as traders awaited the Federal Reserve’s preferred inflation gauge due later in...

Published 29 Feb, 2024 11:05am

Mutual Funds

India bonds yields seen remaining flattish; set for fourth monthly fall

MUMBAI: Indian government bond yields are likely to be little changed in early trading on Thursday as traders await...

Published 29 Feb, 2024 11:02am

Forex

Indian rupee awaits key US inflation data, bias on upside

MUMBAI: The Indian rupee is expected to have a quiet day on Thursday, as traders await a US inflation reading that...

Published 29 Feb, 2024 11:01am

Forex

Soaring bitcoin set for biggest monthly jump since 2020

SINGAPORE: Frenetic activity in bitcoin put it on course for its biggest monthly gain in more than three years on...

Published 29 Feb, 2024 10:56am

Stocks

Japan’s Nikkei trades lower as investors continue to book profits

TOKYO: Japan’s Nikkei share average traded lower on Thursday, as investors sold stocks to lock in profits from the...

Published 29 Feb, 2024 10:54am

World

‘Leap year glitch’ shuts some New Zealand fuel pumps

WELLINGTON: A number of New Zealand petrol pumps stopped working on Thursday due to a “leap year glitch” in payment...

Published 29 Feb, 2024 10:51am

Commodities

Palm oil rises on stronger rival oils

JAKARTA: Malaysian palm oil futures opened up on Thursday, tracking strength in rival vegetable oils on the Dalian...

Published 29 Feb, 2024 10:46am

Asia

Australia invites China’s Wang Yi to visit next month

BEIJING: Australia has invited Chinese Foreign Minister Wang Yi to visit in the later part of March for discussions...

Published 29 Feb, 2024 10:43am

Stocks

Asia stocks sputter before US inflation data; yen gains

TOKYO: Asian equities were mostly weaker on Thursday, while the dollar and US Treasuries were largely steady ahead...

Published 29 Feb, 2024 10:41am

Stocks

Indian shares open slightly lower ahead of key economic data

BENGALURU: Indian shares slipped marginally on Thursday, tracking Asian peers as investors brace for key US and...

Published 29 Feb, 2024 10:38am

Forex

Malaysia expects ringgit to rise this year, rules out currency peg

KUALA LUMPUR: Malaysia’s finance ministry on Thursday dismissed adjusting monetary policy or pegging the ringgit to...

Published 29 Feb, 2024 10:35am

Sports

Liverpool’s young players must be protected, says Klopp

Liverpool’s fans and the media must avoid sensationalising the Premier League club’s young players and afford them...

Published 29 Feb, 2024 10:33am

Business & Finance

Thai Jan factory output drops 2.94% y/y, beats forecast

BANGKOK: Thailand’s manufacturing production index in January dropped 2.94% from a year earlier, the industry...

Published 29 Feb, 2024 10:30am

Sports

Chinese duo heads to ATX Open quarterfinals

No. 8 seed Yue Yuan of China and countrywoman Yafan Wang both completed sweeps on Wednesday in the second round of...

Published 29 Feb, 2024 10:28am

Companies

Alibaba Cloud announces steepest price cut in race for AI customers

HONG KONG/SHANGHAI: China’s Alibaba Cloud on Thursday said it will slash prices of some of its products by as much...

Published 29 Feb, 2024 10:25am

Stocks

Hong Kong exchange’s 2023 profit rises 18% on investment income gains

HONG KONG: Hong Kong’s bourse operator on Thursday reported an 18% profit rise in 2023, bolstered by higher net...

Published 29 Feb, 2024 10:22am

Stocks

China stocks rise on policy support expectations ahead of key meeting

SHANGHAI: China stocks rose on Thursday, after the securities regulator said it would tighten scrutiny of derivative...

Published 29 Feb, 2024 10:14am

Commodities

Nickel set to post first monthly gain in seven on supply concerns

Nickel prices advanced on Thursday and were on track for the first monthly rise since July last year on worries...

Published 29 Feb, 2024 10:13am

Commodities

Global aluminium producers seek Q2 premiums of $145-$155/T, sources say

TOKYO: Global aluminium producers have offered Japanese buyers premiums of $145-$155 per metric ton for April-June...

Published 29 Feb, 2024 10:01am

Forex

China’s yuan inches up on robust stock inflows, eyes on US data and China parliament

SHANGHAI: China’s yuan rose slightly against the dollar on Thursday, underpinned by robust northbound inflows into...

Published 29 Feb, 2024 10:00am

South Asia

India’s farmer protest fuels opposition hopes of denting Modi’s appeal

SHAMBHU: When India’s powerful Prime Minister Narendra Modi agreed in 2021 to repeal three farm laws aimed at...

Published 29 Feb, 2024 09:59am

Forex

Dollar waits on US inflation reading, bitcoin tops $60,000

SINGAPORE: The US dollar was firm and the yen was headed for a monthly loss in the lead up to US inflation data that...

Published 29 Feb, 2024 09:50am

Govt moves NPP, GPP sell-off process forward

Cabinet Committee on Privatisation directs Power Division to submit timelines for each of the issues hindering the process of privatisation of Nandipur Power Plant and Guddu Power Plant

Updated 29 Feb, 2024 09:36am

Pakistan

Incoming govt to fix economy, says Nawaz

ISLAMABAD: Pakistan Muslim League-Nawaz (PML-N) Quaid Nawaz Sharif on Wednesday said that Pakistan would have been a...

Updated 29 Feb, 2024 09:34am

Discussions continue on IP gas pipeline project: US

WASHINGTON: A day after the Pak-Iran gas pipeline project gets a go-ahead from the caretaker cabinet, the State...

Updated 29 Feb, 2024 09:34am

Missing Baloch students case: Finally, caretaker PM appears before court

ISLAMABAD: Caretaker Prime Minister Anwaar-ul-Haq Kakar told the Islamabad High Court (IHC) that it is not fair to...

Updated 29 Feb, 2024 09:33am

Cases falling under LHC jurisdiction: Section 7E of tax law will now be applicable

ISLAMABAD: The Federal Board of Revenue (FBR) Wednesday directed field formations of Punjab that the section 7E (tax...

Updated 29 Feb, 2024 08:51am

Swapping issue: Rs100bn FBR notice perplexes beleaguered SNGPL

ISLAMABAD: Federal Board of Revenue (FBR) is said to have put Sui Northern Gas Pipeline Limited (SNGPL) under...

Updated 29 Feb, 2024 08:50am

President, too, summons NA session?

KARACHI: President Arif Alvi has convened a National Assembly session hours before the lower house of parliament is...

Updated 29 Feb, 2024 08:50am

SBP revises timelines for Banks’ Floating Exchange Rates

KARACHI: The State Bank of Pakistan (SBP) has revised the timelines for submission of data of Banks’ Floating...

Updated 29 Feb, 2024 08:50am

NA session today amid deepening political impasse

ISLAMABAD: The inaugural session of the 16th National Assembly will be held today (Thursday) under Article 91 (2) of...

Updated 29 Feb, 2024 08:49am

BR Research

Dismal discos

You can come up with even fancier way of circular debt settlement next year, can be craftier in the next base tariff...

Published 29 Feb, 2024 08:39am

BR Research

OGDC – tax reversal lifts earnings

The largest E&P in the country announced its financial performance for 1HFY24 recently where earnings were seen...

Published 29 Feb, 2024 08:32am

BR’s refresher: your morning briefing for the day

Important updates from February 28, 2024

Published 29 Feb, 2024 08:25am

BR Research

Dewan Farooque Motors Limited

Dewan Farooque Motors Limited (PSX: DFML) was incorporated in Pakistan as a public limited company in 1998. The...

Published 29 Feb, 2024 08:20am

World

Eight migrants found dead off Morocco

RABAT: The bodies of eight migrants have been found after their vessel sank off Morocco’s northern coast, local...