News Archives for Latest - 2024-03-01

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Archive - 2024-03-01

World

UN chief ‘condemns’ deadly Gaza aid delivery incident

UNITED NATIONS: UN Secretary-General Antonio Guterres “condemns” the deadly aid delivery incident in northern Gaza,...

Published 01 Mar, 2024 11:06pm

Markets

Pakistan’s trade deficit narrows 30% to $14.9bn in 8MFY24

Deficit stood at $21.3bn in 8MFY23

Updated 01 Mar, 2024 10:28pm

Pakistan

Parts of Karachi receive light to heavy rain

Several areas of Karachi received light to heavy rain on Friday, as weather experts predict more rainfall with...

Updated 01 Mar, 2024 10:27pm

Commodities

‘Increased expenses’: Pak Suzuki jacks up car prices by up to Rs180,000

Pak Suzuki has jacked up its car prices by up to Rs180,000, blaming inflation and an increase in its overhead...

Published 01 Mar, 2024 10:27pm

Pakistan

PTI’s Ali Amin Gandapur elected KPK chief minister

Secures 90 votes

Updated 01 Mar, 2024 10:25pm

Markets

Pakistan’s headline inflation reading slows to 23.1% in February

This is the lowest CPI-based figure since June 2022

Updated 01 Mar, 2024 10:22pm

Pakistan

Ayaz Sadiq elected speaker, Ghulam Mustafa deputy speaker of National Assembly

Ayaz Sadiq secures 199, while Syed Ghulam Mustafa receives 197 out of 291 votes

Updated 01 Mar, 2024 09:32pm

Europe

Ukraine, Netherlands sign security guarantee deal

KYIV: Ukraine’s President Voldymyr Zelenskiy and Dutch Prime Minister Mark Rutte signed a security guarantee deal on...

Published 01 Mar, 2024 09:30pm

Pakistan

Islamabad High Court declares Section 7E to be ultra vires the Constitution

The Islamabad High Court (IHC) has declared the Section 7E introduced through the Finance Act, 2022, to be ultra...

Published 01 Mar, 2024 09:21pm

Markets

Distributors, including delivery services chargeable to Sindh sales tax: SRB

Supply chain management and distribution (including delivery) services are chargeable to Sindh sales tax at the rate...

Published 01 Mar, 2024 09:11pm

Middle East

Shoukry says Egypt hopeful of Gaza ceasefire deal before Ramadan

ANTALYA: Egypt’s foreign minister said on Friday Cairo was hopeful that talks initiated by Qatar could agree on a...

Published 01 Mar, 2024 09:00pm

Business & Economy

Pakistan’s next finance minister: race heats up with several names being reported

ISLAMABAD: Pakistan’s newly-formed ruling alliance is yet to finalise its finance minister, the person who has to...

Updated 01 Mar, 2024 08:26pm

Stocks

Wall St see-saws after rally on AI boost, inflation relief

U.S. stocks struggled for direction on Friday as investors took a breather after the previous session’s rally,...

Published 01 Mar, 2024 08:19pm

Stocks

UAE markets advance as oil prices gain

Stock markets in the United Arab Emirates advanced on Friday, tracking rising crude prices, as investors awaited an...

Published 01 Mar, 2024 08:13pm

Sports

Onana says he will ‘shine’ after early struggles at Man Utd

LONDON: Andre Onana believes he has turned the corner off the pitch after enduring a “difficult time” mentally...

Published 01 Mar, 2024 07:54pm

Cricket

Ireland beat Afghanistan to claim maiden Test victory

ABU DHABI: Ireland finally won their first Test match on Friday when they defeated Afghanistan by six wickets in Abu...

Published 01 Mar, 2024 07:46pm

Sports

Guardiola expecting ‘best’ Man Utd in derby

LONDON: Pep Guardiola says he is expecting the “best” from Manchester United even though Manchester City will start...

Published 01 Mar, 2024 07:37pm

South Asia

Israeli strike in Syria kills Iran Guard, two others: reports

BEIRUT: An Israeli strike in Syria on Friday killed an Iranian Revolutionary Guard and two other people, reports...

Published 01 Mar, 2024 07:34pm

Stocks

Positive momentum at PSX as govt formation takes shape

Positive sentiments led by political clarity over the formation of a new government were witnessed at the Pakistan...

Updated 01 Mar, 2024 07:17pm

Currency

Rupee registers marginal loss against US dollar

Currency settles at 279.19 against US dollar in inter-bank market

Updated 01 Mar, 2024 06:53pm

Pakistan

PPP’s Sarfraz Bugti elected as CM Balochistan unopposed

Pakistan Peoples Party’s (PPP) Sarfraz Bugti has been elected unopposed as the chief minister of Balochistan, Aaj...

Updated 01 Mar, 2024 06:50pm

Movies & Music

Ambani wedding: Rihanna, Zuckerberg in India for party thrown by Asia’s richest man

JAMNAGAR, India: Rihanna and Meta chief Mark Zuckerberg were in India Friday for an extravagant pre-wedding party...

Published 01 Mar, 2024 06:39pm

Energy

Global LNG: Asia spot LNG prices flat as ample inventories weigh

Asian spot liquefied natural gas (LNG) was flat this week to trend at a near three-year low as high inventories kept...

Published 01 Mar, 2024 06:48pm

Companies

‘Revolutionising laundry care’: Haier’s sensor dry washing machines

Efficiency and convenience are critical in today’s fast-paced society in many facets of our lives, including...

Published 01 Mar, 2024 06:39pm

Pakistan

PPP’s Syed Ghulam Mustafa elected NA deputy speaker

Pakistan Peoples Party’s (PPP) Syed Ghulam Mustafa Shah was elected on Friday as the National Assembly’s deputy...

Published 01 Mar, 2024 06:37pm

Money & Banking

India’s goods and services tax receipts rise 12.5% in February

NEW DELHI: India’s goods and services tax (GST) collection in February rose 12.5% to 1.68 trillion rupees ($20.28...

Published 01 Mar, 2024 06:35pm

Europe

EU holds back part of UNRWA payment but boosts Palestinian aid

BRUSSELS: The European Commission said on Friday it would hold back part of a payment of 82 million euros for the UN...

Published 01 Mar, 2024 06:11pm

Energy

Oil rises 1% as markets await OPEC+ decision

LONDON: Oil prices rose on Friday and were set for weekly gains as markets awaited an OPEC+ decision on supply...

Updated 01 Mar, 2024 05:53pm

Stocks

Strong domestic growth propels India’s Nifty, Sensex to record highs, weekly gains

BENGALURU: India’s blue-chip indexes Nifty 50 and Sensex hit record highs on Friday, logging third straight weekly...

Published 01 Mar, 2024 05:50pm

Markets

Pakistan’s sovereign dollar bonds rally ahead of Sunday’s election for prime minister

LONDON: Pakistan’s sovereign dollar-denominated bonds rallied in advance of weekend elections for prime minister,...

Published 01 Mar, 2024 05:49pm

Stocks

Sri Lankan shares end higher as financials buoy

CSE All Share index settled up 0.37% at 10,691.24

Published 01 Mar, 2024 05:46pm

Commodities

Palm posts weekly gain, market anticipates clues from industry conference

JAKARTA: Malaysian palm oil futures closed lower on Friday on profit-taking and cautious trading ahead of a major...

Published 01 Mar, 2024 05:42pm

USA

Pentagon chief says Israel killed 25,000 Palestinian women, children

WASHINGTON: US Defence Secretary Lloyd Austin told lawmakers Thursday that Israel had killed more than 25,000...

Updated 01 Mar, 2024 04:47pm

Bullion Rate

Gold price per tola increases Rs1,100 in Pakistan

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

Published 01 Mar, 2024 04:36pm

South Asia

Blast at cafe in India’s Bengaluru injures 4, police say

BENGALURU: At least four people were injured in a blast at a popular cafe in India’s technology hub of Bengaluru on...

Published 01 Mar, 2024 02:47pm

Forex

Kenyan shilling firms slightly in thin trading

The Kenyan shilling traded marginally stronger in thin trading on Friday, traders said. At 0915 GMT, commercial...

Published 01 Mar, 2024 02:44pm

Arts

Arab musicians’ songs about Gaza put spotlight on Palestinian issues

From pathos to praise of Hamas, songs written by musicians across the Middle East in response to Israel’s offensive...

Published 01 Mar, 2024 02:08pm

Movies & Music

A Minute With: the ‘Dune: Part Two’ cast on costumes, politics and veils

LOS ANGELES: The sci-fi epic ‘Dune’ saga, based on Frank Herbert’s 1965 novel and starring Timothee Chalamet and...

Published 01 Mar, 2024 01:56pm

Stocks

European shares move higher on technology boost ahead of inflation data

European shares kicked off the month higher on Friday, buoyed by strength in global equities after favourable US...

Published 01 Mar, 2024 01:34pm

Stocks

London stocks track global markets higher

UK equities opened higher on Friday, mirroring gains across global markets, as investors cheered signs of slowing...

Published 01 Mar, 2024 01:32pm

Stocks

Hong Kong shares open lower

HONG KONG: Hong Kong stocks opened lower on Friday after Wall Street gains and a key US inflation metric brought...

Published 01 Mar, 2024 12:17pm

Europe

Navalny’s Moscow funeral takes place under shadow of repression

MOSCOW: The funeral of late Russian opposition leader Alexei Navalny is scheduled to be held in Moscow on Friday,...

Published 01 Mar, 2024 12:09pm

Perspectives

Challenges and opportunities in Pakistan’s real estate Sector

Pakistan’s once-booming real estate sector is facing a crisis, with declining home values and skyrocketing interest...

Published 01 Mar, 2024 12:06pm

Stocks

Asian markets mostly up after US gains

HONG KONG: Asian markets were largely higher on Friday following Wall Street gains driven by tech rallies and key US...

Published 01 Mar, 2024 12:02pm

Sports

De Minaur solves Tsitsipas puzzle to reach Acapulco ATP semi-finals

MEXICO CITY: Defending champion Alex De Minaur claimed his first career win over Stefanos Tsitsipas on Thursday to...

Published 01 Mar, 2024 11:57am

South Asia

Polls open in Iran elections as conservatives expected to dominate

TEHRAN: Polling stations in Iran opened Friday for voting to select members of parliament and a key clerical body,...

Published 01 Mar, 2024 11:54am

Pakistan

‘Rare Disease Day’ marked: Roche Pakistan holds panel discussion to raise awareness

KARACHI: In recognition of Rare Disease Day, Roche Pakistan Limited held a panel discussion and press briefing to...

Updated 01 Mar, 2024 11:49am

Energy

Energy-related CO2 emissions hit record levels in 2023: IEA

PARIS: Energy-related carbon dioxide emissions rose to a record level in 2023, but the growth slowed from previous...

Published 01 Mar, 2024 11:48am

Sports

Australia take charge of first Test after New Zealand collapse

WELLINGTON: Australia seized control of the opening Test Friday after a miserable day for hosts New Zealand left...

Published 01 Mar, 2024 11:43am

Africa

Former Tanzanian president Ali Hassan Mwinyi dies aged 98

DAR ES SALAAM: Former Tanzanian president Ali Hassan Mwinyi, who introduced multi-party democracy to the East...

Published 01 Mar, 2024 11:39am

World

UN chief says Gaza killing could require independent investigation

United Nations Secretary-General Antonio Guterres on Thursday said the killing of over 100 people seeking...

Published 01 Mar, 2024 11:22am

Sports

Danielle Collins controls third set to reach Austin quarters

Third-seeded Danielle Collins rallied to post a 4-6, 7-6 (3), 6-0 victory over Katie Volynets on Thursday to reach...

Published 01 Mar, 2024 11:15am

Technology

Meta says it will no longer pay for news in Australia, Germany and France

SYDNEY: Meta said on Friday it will not enter into new commercial deals for traditional news content in Australia,...

Published 01 Mar, 2024 11:11am

Business & Finance

Monthly inflation rate projected to slow in February

KARACHI: Inflation is projected to hover around 24.5-25.5% in February, with expectations of further easing to...

Updated 01 Mar, 2024 11:08am

USA

US Senate approves bill to avert government shutdown, sends it to Biden

WASHINGTON: The Democratic-majority US Senate on Thursday approved a short-term stopgap spending bill to avert a...

Published 01 Mar, 2024 11:08am

BR Research

Fiscal update: H1-FY24

The Finance ministry has released its Monthly Economic Update, which gives a snapshot of the performance of the...

Updated 01 Mar, 2024 11:06am

Forex

Indian rupee caught between robust India growth, dollar index upmove

MUMBAI: The Indian rupee is expected to open flat on Friday and remain in a narrow range, caught between the Asian...

Published 01 Mar, 2024 10:53am

Europe

Russia ready to hand over crash victims’ bodies to Ukraine, RIA says

Russia is ready to hand over to Ukraine the bodies of the victims of a January military plane crash, the RIA news...

Published 01 Mar, 2024 10:51am

Stocks

Japan’s Nikkei at record high, tech and insurance shares gain

TOKYO: Japan’s Nikkei share average rose to an all-time high on Friday, as tech-related stocks tracked record-high...

Published 01 Mar, 2024 10:44am

Technology

Tesla rolls out new incentives in China as price war escalates

BEIJING: Tesla unveiled new incentives, including insurance subsidies, on Friday to woo consumers in the world’s...

Published 01 Mar, 2024 10:42am

Commodities

Indonesia expects 17.5% drop in Jan-Apr rice output

JAKARTA: Indonesia’s rice output in the harvest period from January to April is expected to drop 17.52% from last...

Published 01 Mar, 2024 10:40am

Energy

Saudi Arabia may keep April crude prices to Asia little changed

SINGAPORE: Top oil exporter Saudi Arabia may keep term prices of crude it sells to Asian customers little changed in...

Published 01 Mar, 2024 10:39am

Business & Finance

India Q3 GDP data may overstate growth trends, economists say

MUMBAI: India’s third-quarter gross domestic product (GDP), which rose by a stronger-than-expected 8.4% compared to...

Published 01 Mar, 2024 10:36am

Commodities

Soybeans near 3-year low as LatAm supplies keep lid on prices

SINGAPORE: Chicago soybeans inched higher on Friday, with the market recovering from last session’s three-year low,...

Published 01 Mar, 2024 10:34am

Commodities

Palm oil set for weekly gain on stronger rival oils

JAKARTA: Malaysian palm oil futures rose on Friday, and were set for a weekly gain, as the contract tracked strength...

Published 01 Mar, 2024 10:33am

South Asia

Bangladesh building fire kills at least 43, injures dozens

DHAKA: A massive fire that raced through a six-storey building overnight in Bangladesh’s capital Dhaka has killed at...

Published 01 Mar, 2024 10:31am

Middle East

WTO issues new draft trade deals after all-night talks, some issues unresolved

ABU DHABI: World Trade Organization negotiators released new draft deals on Friday after all-night talks in Abu...

Published 01 Mar, 2024 10:22am

Business & Finance

China’s factory activity shrinks for 5th month, raises pressure for more stimulus

BEIJING: China’s manufacturing activity in February shrank for a fifth straight month, an official survey showed on...

Published 01 Mar, 2024 10:21am

Business & Finance

JPMorgan picks HSBC, StanChart to run $500bn custody business in Hong Kong, Taiwan

HONG KONG: JPMorgan Chase has selected HSBC and Standard Chartered to operate its custody businesses in Hong Kong...

Published 01 Mar, 2024 10:20am

Markets

Evergrande chairman’s second seized Hong Kong mansion put up for sale

HONG KONG: A second mansion in Hong Kong that once belonged to China Evergrande Group’s chairman has been put up for...

Published 01 Mar, 2024 10:19am

Bullion Rate

Gold eyes second weekly gain on gradually easing US inflation

Gold prices firmed near month-high levels on Friday and were set for a second weekly rise after data showed that US...

Published 01 Mar, 2024 10:17am

Forex

Australia, NZ dollars struggle as rate risks shift dovish

SYDNEY: The Australian and New Zealand dollars were ending the week in the red on Friday as the outlook for interest...

Published 01 Mar, 2024 10:15am

Stocks

Australian shares hit record high as traders assess US inflation data

Australian shares hit a record high on Friday, fuelled by miners and gold stocks, while the US inflation data bore...

Published 01 Mar, 2024 10:13am

Forex

Dollar steady as traders ponder Fed rate cut bets; yen shaky at 150/dlr

SINGAPORE: The dollar was steady on Friday after data showed US inflation remained sticky but easing gradually,...

Published 01 Mar, 2024 10:11am

Forex

China’s yuan eases as manufacturing weakness persists; eyes on NPC session

SHANGHAI: The yuan eased against the US dollar on Friday, as China’s factory activity suggested manufacturing...

Published 01 Mar, 2024 10:07am

Mutual Funds

Japan’s 2-year bond yield hits near 13-year high after BOJ policymaker’s hawkish comments

TOKYO: Japan’s two-year government bond yield hit a near 13-year high on Friday, after hawkish comments from a Bank...

Published 01 Mar, 2024 10:06am

Energy

Adani Energy in early talks for up to $500mn dollar bond issue, sources say

MUMBAI: India’s Adani Energy Solutions is planning to raise around $400 million-$500 million through a private...

Published 01 Mar, 2024 09:58am

Stocks

Energy drives Indian shares higher after strong domestic growth data

BENGALURU: Indian shares advanced on Friday, led by energy stocks, as faster-than-expected domestic economic growth...

Published 01 Mar, 2024 09:55am

Mutual Funds

India bonds not reacting to strong domestic growth, yields little changed

MUMBAI: Indian government bond yields were little changed on Friday, as market participants largely ignored a sharp...

Published 01 Mar, 2024 09:54am

Rs30.8bn ‘recovery’ from Hubco: PSO seeks PD’s intervention

ISLAMABAD: Pakistan State Oil (PSO) has sought Power Division’s intervention for recovery of Rs 30.8 billion from...

Updated 01 Mar, 2024 09:46am

Massive Rs33bn shortfall in Feb revenue collection

FBR meets overall tax collection target for the first eight months of the current fiscal year

Updated 01 Mar, 2024 09:46am

PEC drafts 15-year ‘Make in Pakistan’ plan

ISLAMABAD: Pakistan Engineering Council (PEC) has drafted 15-year Make in Pakistan (MIP) plan focused on maximising...

Updated 01 Mar, 2024 09:42am

Nepra receives KE’s Jan FCA request

ISLAMABAD: National Electric Power Regulatory Authority (Nepra) is said to have received K-Electric’s Fuel Charges...

Updated 01 Mar, 2024 09:42am

Higher gas prices push up urea rates

KARACHI: Significant gas price hike by the federal government has forced the manufacturers to adjustment in urea...

Updated 01 Mar, 2024 09:41am

BR Research

Export refinance: tough times bring efficiency gain

After growing by some 40 percent over pre-Covid levels, Pakistan’s textile industry exports receipts declined by 15...

Published 01 Mar, 2024 09:21am

BR Research

Interview with Jaffar Ali, Manager of Digital Marketing and Communications at Sapphire Finishing Mills Limited

‘The future of communication is undoubtedly digital’ Jaffar Ali is a seasoned professional with expertise in digital...

Published 01 Mar, 2024 09:19am

302 MNAs-elect, including Nawaz Sharif, sworn in

ISLAMABAD: The 16th National Assembly came into effect as 302 members took oath on Thursday following the February 8...

Updated 01 Mar, 2024 09:07am

Pakistan

Nawaz, Shehbaz assail IK over letter to IMF

ISLAMABAD: Pakistan Muslim League-Nawaz (PML-N) Quaid Nawaz Sharif and party president Shehbaz Sharif have censured...

Updated 01 Mar, 2024 09:06am

Expenditure: Higher mark-up payments putting significant pressure: Finance

ISLAMABAD: The Finance Ministry has stated that higher mark-up payments are putting significant pressure on...

Updated 01 Mar, 2024 09:06am

Forex reserves fall by $59m

KARACHI: The country’s total liquid foreign reserves fell by $59 million during the last week, the State Bank of...

Updated 01 Mar, 2024 08:27am

NA speaker, deputy speaker, PM and President: JUI-F announces boycott of elections

ISLAMABAD: Jamiat Ulema-e-Islam-Fazl (JUI-F) chief Maulana Fazlur Rehman on Thursday announced the boycott of the...

Updated 01 Mar, 2024 08:26am

MNAs to elect PM on Sunday

ISLAMABAD: The newly elected National Assembly will elect the Leader of the House (prime minister) on Sunday. The...

Updated 01 Mar, 2024 08:24am

BR’s refresher: your morning briefing for the day

Important updates from February 29, 2024

Published 01 Mar, 2024 08:24am

Opinion

Incoming government and some important economic policy initiatives

High inflationary situation should be among the top most priorities of the incoming government. Over-board aggregate...