News Archives for Latest - 2024-03-07

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Archive - 2024-03-07

Europe

Ukraine’s Zelenskiy approves ex-army chief Zaluzhnyi’s candidacy as envoy to UK

Ukrainian President Volodymyr Zelenskiy has approved the candidacy of former army chief Valeriy Zaluzhnyi as...

Published 07 Mar, 2024 11:13pm

World

Biden orders US military to establish port in Gaza: officials

WASHINGTON: The US military is to set up a temporary port in Gaza so that more aid can get into the beleaguered...

Published 07 Mar, 2024 11:04pm

Energy

Oil prices slip on view US rate cuts could be delayed

LONDON: Oil prices slipped on Thursday as expectations that U.S. interest rate cuts could be delayed capped gains,...

Updated 07 Mar, 2024 09:53pm

Pakistan

Supreme Judicial Council finds Justice Mazahar Naqvi guilty of misconduct

The Supreme Judicial Council (SJC) has found former Supreme Court judge Justice Sayyed Mazahar Ali Akbar Naqvi...

Published 07 Mar, 2024 09:21pm

Pakistan

PM Shehbaz orders privatisation process to be expedited

Urges immediate action to strengthen the entities in charge of privatisation's capacity-building

Updated 07 Mar, 2024 09:20pm

Sports

Boxing legend Mike Tyson to face Jake Paul in exhibition fight

LOS ANGELES: Former heavyweight champion Mike Tyson will return to the ring to face Youtuber-turned-boxer Jake Paul...

Published 07 Mar, 2024 09:02pm

USA

Biden to push higher corporate tax in key political speech

WASHINGTON: US President Joe Biden is expected to raise pressure Thursday on major corporations and wealthy...

Published 07 Mar, 2024 09:00pm

Stocks

KSE-100 sees another day of volatile trading, ends marginally negative

The Pakistan Stock Exchange (PSX) ended another trading session on a flat note, while both the value and volume of...

Updated 07 Mar, 2024 08:21pm

Exchange

Rupee gains marginally against US dollar

Currency settles at 279.29 against the US dollar in inter-bank market

Updated 07 Mar, 2024 08:21pm

Stocks

US stocks rise amid fresh hopes of easing inflation

NEW YORK: US stocks jumped higher in early trading Thursday, boosted by renewed hopes the international inflationary...

Published 07 Mar, 2024 08:12pm

Technology

Add $6 trillion to global GDP by including women in economy: US venture capitalist

Women’s participation in the workforce could add a whopping $6 trillion to global GDP, helping not only product...

Published 07 Mar, 2024 08:00pm

Commodities

Gold price per tola jumps another Rs2,750 in Pakistan

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

Updated 07 Mar, 2024 07:54pm

Forex

SBP-held foreign exchange reserves fall another $54mn, now stand at $7.9bn

Total liquid foreign reserves held by the country at $13.02bn

Published 07 Mar, 2024 07:50pm

Industry

CCP warns social media influencers against deceptive marketing practices, vows strict action

The Competition Commission of Pakistan (CCP) has warned social media influencers and endorsers against engaging in...

Published 07 Mar, 2024 07:22pm

Stocks

Saudi says 8% Aramco stake transferred to PIF wealth fund portfolio

RIYADH: Saudi Arabia on Thursday said it transferred an additional eight percent stake from oil giant Aramco to...

Published 07 Mar, 2024 07:17pm

Money & Banking

ECB keeps rates on hold with inflation still sticky

FRANKFURT: The European Central Bank froze interest rates again on Thursday as it held off from starting to cut...

Updated 07 Mar, 2024 07:01pm

USA

Trump hit with UK legal bill after losing case

LONDON: Former US president Donald Trump will have to pay at least £300,000 ($382,000) in costs after losing a UK...

Published 07 Mar, 2024 06:59pm

Money & Banking

Ramazan 2024: minimum Nisab fixed at Rs135,179 for Zakat

The government has fixed Nisab for Zakat for the year 1444-45 A.H at Rs135,179 for deduction from savings bank...

Updated 07 Mar, 2024 06:40pm

Pakistan

2 terrorists killed in intelligence-based operation in KP: ISPR

The security forces on Thursday killed two terrorists in separate targeted intelligence-based operations (IBOs) in...

Published 07 Mar, 2024 06:23pm

Middle East

Israel says South Africa exploiting World Court on behalf of Hamas

OCCUPIED JERUSALEM: Israel accused South Africa on Thursday of acting “as the legal arm of Hamas” after Pretoria...

Published 07 Mar, 2024 06:16pm

Industry

FPCCI delegation visits HQ NLC

RAWALPINDI: As part of enhanced collaboration between National Logistics Corporation (NLC) and the business...

Published 07 Mar, 2024 06:13pm

Africa

Egypt planning deals and price measures after devaluation, PM says

DUBAI: Egypt is planning “big deals” to ensure liquidity and will work with merchants to control prices and...

Published 07 Mar, 2024 06:13pm

Luxury

900 luxury watches ‘go missing’ in Japan

TOKYO: Around 900 luxury watches worth almost $13 million are missing in Japan after a site renting them out folded...

Published 07 Mar, 2024 06:04pm

MENA

Dubai cuts work visa processing time from 30 days to just 5

‘Work Bundle’ initiative looks to simplify employee residency and work permit procedures in private sector firms

Published 07 Mar, 2024 05:45pm

South Asia

India confirms citizen fighting with Russian army dead

NEW DELHI: India’s embassy in Moscow has confirmed the death of a citizen recruited by the Russian army, days after...

Published 07 Mar, 2024 05:40pm

Stocks

Stocks falter before ECB but gold shines after Powell

LONDON: Global stock markets struggled Thursday as investors awaited a eurozone monetary policy call, but gold hit a...

Updated 07 Mar, 2024 05:31pm

Sports

Yadav, openers give India opening day honours against England

DHARAMSALA: Kuldeep Yadav took five wickets to bundle out England for 218, with India’s batsmen starting strongly on...

Updated 07 Mar, 2024 05:27pm

Europe

Macron, French party leaders discuss Ukraine aid

PARIS: French President Emmanuel Macron on Thursday met leaders of the country’s main political parties as he sought...

Published 07 Mar, 2024 05:23pm

Business & Economy

Moody’s upgrades Pakistan’s banking sector outlook from negative to ‘stable’

Banks' profitability, stable funding and liquidity provide adequate buffer to withstand the country's macroeconomic challenges and political turmoil, says report

Updated 07 Mar, 2024 05:23pm

Sports

Usman Tariq of Quetta Gladiators reported for suspect action

Usman Tariq - the mystery spinner from Quetta Gladiators - who garnered attention for his impressive bowling skills,...

Published 07 Mar, 2024 05:20pm

Pakistan

Islamabad court strikes down verdict declaring CM Gandapur proclaimed offender

An Islamabad district and session court struck down on Thursday a trial court’s verdict declaring Khyber Pakhtunkhwa...

Updated 07 Mar, 2024 04:54pm

Travel

What happens to the coins tossed into Rome’s Trevi Fountain?

As visitors’ coins splash into Rome’s majestic Trevi Fountain carrying wishes for love, good health or a return to...

Published 07 Mar, 2024 04:06pm

Stocks

Financials lead India’s Nifty, Sensex to record highs, fourth week of gains

BENGALURU: India’s blue-chips extended their rally to record highs for a second session in a row on Friday, led by...

Published 07 Mar, 2024 03:34pm

Commodities

Palm oil dips on firmer ringgit but stronger rival oils cap losses

KUALA LUMPUR/SINGAPORE: Malaysian palm oil futures fell on Thursday after hitting its highest closing price in more...

Published 07 Mar, 2024 03:30pm

Money & Banking

Bank of Khyber’s profit shoots to Rs3.5bn, 665% higher YoY in 2023

Bank of Khyber (BoK) saw its earnings skyrocket to Rs3.48 billion in 2023, up nearly 665% from the profit-after-tax...

Published 07 Mar, 2024 03:24pm

Pakistan

PHC extends bar on oath-taking of lawmakers on reserved seats till March 13

Two-member bench comprising Justice Ishtiaq Ibrahim and Justice Shakeel Ahmad extends the date

Updated 07 Mar, 2024 03:08pm

Movies & Music

Ryan Gosling to perform ‘Not just Ken’: Oscars producers share vision for gala

LOS ANGELES: When ‘Barbie,’ a neon-pink pop culture phenomenon like no other, was nominated for eight Academy Awards...

Published 07 Mar, 2024 02:40pm

Stocks

China stocks fall as strong trade numbers soften stimulus expectations

SHANGHAI: China stocks closed down on Thursday as better-than-expected trade data dented expectations of strong...

Published 07 Mar, 2024 02:39pm

Technology

Apple says exercised right to block Epic Games in EU

BRUSSELS: Apple on Thursday defended its decision to block Fortnite video-game maker Epic Games from launching its...

Published 07 Mar, 2024 02:34pm

Stocks

FTSE 100 falls on weaker banks, miners; Virgin Money UK jumps

The UK’s FTSE 100 slipped on Thursday, dragged by financial and mining stocks, while shares of Virgin Money UK...

Published 07 Mar, 2024 02:26pm

Sports

Staging Super Cup in Saudi Arabia has been good for Spanish football

LaLiga President Javier Tebas said the decision to shift the Super Cup to Saudi Arabia has been beneficial for...

Published 07 Mar, 2024 02:22pm

Stocks

Saudi bourse gains on Fed rate cut signal; ex-dividend stocks pull down Dubai, Qatar

The Saudi Arabian stock market rose in early trade on Thursday as the U.S. Federal Reserve Chair said he expects...

Published 07 Mar, 2024 02:19pm

Arts

Low-end internet auctions upend art market: sector-tracker

PARIS: A boom in internet sales has boosted the lower end of the art market and could ultimately doom showroom...

Published 07 Mar, 2024 01:54pm

Stocks

South Korean shares rise after Fed chair remarks, battery stocks rally

KOSPI closed up 6.13 points, or 0.23%, at 2,647.62

Published 07 Mar, 2024 01:21pm

Currency

South African rand firms against weaker dollar

JOHANNESBURG: South Africa’s rand firmed in early trading on Thursday against a weaker U.S. dollar, after Federal...

Published 07 Mar, 2024 01:18pm

Sports

Medvedev says ready to play as neutral athlete at Paris Olympics

INDIAN WELLS: World number four Daniil Medvedev said he was excited about competing at the Paris Olympics and will...

Published 07 Mar, 2024 01:13pm

Stocks

Japan’s Nikkei ends sharply lower as yen gains on bets on BOJ’s policy tweak

TOKYO: Japan’s Nikkei share average slipped from a record high to end sharply lower on Thursday amid sell-off of...

Updated 07 Mar, 2024 01:05pm

Sports

Kerber advances, Badosa withdraws at Indian Wells

INDIAN WELLS: Three-times Grand Slam champion Angelique Kerber beat Petra Martic 6-3 6-4 in the first round of...

Published 07 Mar, 2024 12:59pm

Commodities

Shanghai copper hits 5-week high on Fed rate-cuts hopes

Copper prices in Shanghai climbed five-week highs on Thursday, supported by the prospect of a U.S. rate cut this...

Published 07 Mar, 2024 12:54pm

Commodities

Japanese rubber futures rise amid strong wage talks, better-than-expected China trade data

SINGAPORE: Japanese rubber futures rose on Thursday after some labour nions in the country won big pay hikes, while...

Published 07 Mar, 2024 12:50pm

Bullion Rate

Gold extends rally to hit new record as Powell hints at rate cut in 2024

Gold prices rallied to hit new records on Thursday, on track for their seventh consecutive daily rise, led by weak...

Published 07 Mar, 2024 12:46pm

Financial

JGB yields higher, traders cautious ahead of March BOJ meeting

TOKYO: Japanese government bond (JGB) yields rose on Thursday, after a local media report fuelled expectations the...

Published 07 Mar, 2024 12:42pm

USA

US, Turkiye kick off comprehensive talks to explore improving troubled ties

WASHINGTON: The US and Turkiye are set to kick off comprehensive talks on Thursday to discuss if the NATO allies can...

Published 07 Mar, 2024 12:37pm

Companies

Hyundai Nishat charges ahead with launch of IONIQ series in Pakistan

As Pakistan navigates the complexities of a rapidly evolving automotive landscape, the launch of electric vehicles...

Published 07 Mar, 2024 12:21pm

Business & Finance

China’s exports to Russia rise 12.5% in Jan-Feb

BEIJING: China’s dollar-denominated exports to Russia rose 12.5% in the period of January-February from a year...

Published 07 Mar, 2024 12:19pm

Companies

Hugo Boss expects 2024 operating profit below market expectations

Hugo Boss said on Thursday it anticipates its operating profit to increase by 5% to 15% in 2024, below market...

Published 07 Mar, 2024 12:14pm

South Asia

China FM calls war in Gaza a ‘disgrace for civilisation’

BEIJING: China’s foreign minister Wang Yi on Thursday called Israel’s war in Gaza a “disgrace for civilisation” and...

Updated 07 Mar, 2024 12:14pm

Stocks

Australian shares close higher on financials boost

Australian shares ended higher on Thursday led by financial stocks, as weaker-than-expected domestic growth data...

Updated 07 Mar, 2024 12:10pm

Companies

SingTel sells 0.8% stake in India’s Bharti Airtel to GQG Partners for $711mn

Singapore Telecommunications on Thursday said it has sold a 0.8% stake in India’s Bharti Airtel for S$950 million...

Published 07 Mar, 2024 12:08pm

USA

First Arab woman to graduate NASA training shoots for the Moon

HOUSTON: Like her ancestors before her, Emirati astronaut Nora AlMatrooshi has spent much of her life gazing up at...

Published 07 Mar, 2024 11:27am

South Asia

Afghan museum exhibits artefacts of Taliban victory

MAZAR-I-SHARIF, AFGHANISTAN: Alongside antique Qurans and ancient Afghan coins, rocket launchers and homemade bombs...

Published 07 Mar, 2024 11:18am

Europe

After long tussle, Sweden to become NATO member

WASHINGTON: After two centuries of non-alignment and two years of torturous diplomacy, Sweden on Thursday becomes...

Published 07 Mar, 2024 11:07am

Europe

EU faces uphill battle to rein in big tech

BRUSSELS: The EU’s landmark curbs on how tech titans do business online kick in from Thursday, but just how far...

Published 07 Mar, 2024 11:01am

Markets

China’s Jan-Feb rare earth exports climb 18.7% y/y

BEIJING: China’s rare earths exports rose 18.7% in the first two months of 2024 from the corresponding period a year...

Published 07 Mar, 2024 10:33am

Commodities

China Jan-Feb soybean imports fall to 5-year low

BEIJING: China imported 13.04 million metric tons of soybeans for the first two months of the year, the lowest for...

Published 07 Mar, 2024 10:30am

Commodities

China Jan-Feb copper imports rise 2.6% to 902,000 tons, customs says

BEIJING: China’s unwrought copper imports in the first two months of 2024 rose 2.6% from a year earlier, customs...

Published 07 Mar, 2024 10:27am

Currency

Australia, NZ dollars rescued by short squeeze, eye resistance

SYDNEY: The Australian and New Zealand dollars found themselves on firmer ground on Thursday as dovish comments from...

Published 07 Mar, 2024 10:24am

Financial

Indian bond yields seen easing as US peers fall further

MUMBAI: Indian government bond yields are expected to edge lower in opening trade on Thursday as U.S. yields...

Published 07 Mar, 2024 10:19am

Commodities

Wheat drops to 3-1/2-year low on Black Sea supply pressure, corn eases

SINGAPORE: Chicago wheat slid for a third consecutive session on Thursday, with the market dropping to its lowest...

Published 07 Mar, 2024 10:17am

Currency

Indian rupee hopes to climb past resistance on dollar weakness after Powell comments

MUMBAI: The Indian rupee will aim to move past a key resistance in the wake of the decline in the dollar and U.S....

Published 07 Mar, 2024 10:14am

Commodities

Palm oil falls after hitting seven-month high

KUALA LUMPUR: Malaysian palm oil futures eased on Thursday to adjust spread against rival vegetable oil, after...

Published 07 Mar, 2024 10:12am

Stocks

Asian shares rise on US rate relief, yen jumps on BOJ chatter

SYDNEY: Asian shares rose on Thursday while the dollar nursed losses after the world’s most powerful central banker...

Published 07 Mar, 2024 10:09am

Currency

China’s yuan steadies as dollar slips, but pressure remains

SHANGHAI: China’s yuan was largely steady against the U.S. dollar on Thursday, as the dollar slipped after comments...

Published 07 Mar, 2024 10:06am

Commodities

China Jan-Feb iron ore imports jump on pre-holiday restocking, higher shipments

BEIJING: China’s iron ore imports in the first two months of 2024 climbed 8.1% from the previous year, customs data...

Published 07 Mar, 2024 10:03am

Commodities

China Jan-Feb coal imports rise 23% y/y to highest level for the period

BEIJING: China’s coal imports in the first two months of 2024 rose 23% from the corresponding period a year earlier,...

Published 07 Mar, 2024 10:00am

South Asia

US has a wrong perception of China, says foreign minister

BEIJING: The US continues to hold the wrong perception of China and has yet to fulfill its promises despite some...

Published 07 Mar, 2024 09:57am

EAD explains how borrowing can be productive

Pakistan signs new agreements worth $642 million as commitments

Updated 07 Mar, 2024 09:53am

Saudi team briefed about SIFC

ISLAMABAD: A high-level delegation of Al-Ajlan Holding Group of the Kingdom of Saudi Arabia visited the Special...

Updated 07 Mar, 2024 09:52am

South Asia

Australia and Vietnam upgrade relations, to begin talks on critical minerals

SYDNEY: Australian Prime Minister Anthony Albanese said on Thursday the country was raising ties with Vietnam to the...

Published 07 Mar, 2024 09:52am

Business & Finance

Recovery from PIA: PSO receiveables soar to Rs 21.7bn

ISLAMABAD: The Pakistan State Oil (PSO) has proposed the imposition of a levy of upto Rs4 per litre on Jet-A1 to...

Updated 07 Mar, 2024 09:50am

Money & Banking

Turkish central bank introduces reserve requirement based on loan growth

ANKARA: The Turkish central bank has introduced reserve requirement based on loan growth, a regulation published on...

Published 07 Mar, 2024 09:49am

Thar Block-1: Shanghai Electric promises development, welfare of workers

KARACHI: Thar Coal Block-1 Power Generation Company (Private) Limited (TCB-1) and Sino Sindh Resources Private...

Updated 07 Mar, 2024 09:48am

Sukuk, other Shariah-compliant financing modes: Govt wants more loans against its unencumbered assets

ISLAMABAD: The federal government has decided to issue domestic and international Sukuk and raise other...

Updated 07 Mar, 2024 09:47am

Inefficiencies: Nepra to take major step after Ramazan

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has decided to summon the chief executive...

Updated 07 Mar, 2024 09:47am

Energy

China Jan-Feb crude imports rise on strong holiday travel demand

BEIJING: China’s imports of crude oil rose 5.1% in the first two months of 2024 from a year earlier, data showed on...

Published 07 Mar, 2024 09:46am

Stocks

India’s Nifty, Sensex open at record highs as Powell’s speech spurs global rally

BENGALURU: India’s blue-chip indexes hit fresh record highs at the open on Thursday, tracking a rally in Asian peers...

Published 07 Mar, 2024 09:38am

Forex

Yen gains on chance of imminent BOJ pivot; dollar broadly lower

SINGAPORE: The yen scaled a one-month high against the dollar on Thursday, as growing speculation that the Bank of...

Published 07 Mar, 2024 09:33am

PIA privatisation: PM seeks ‘final’ schedule

ISLAMABAD: Prime Minister Shehbaz Sharif has sought final schedule for the implementation of the privatisation of...

Updated 07 Mar, 2024 09:16am

Private sector import of wheat: Deadline extended despite opposition by Punjab

ISLAMABAD: The federal government has extended the deadline for the import of milling wheat till March 31, 2024, by...

Updated 07 Mar, 2024 09:16am

Nepra set to scrap HCPC’s generation licence

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) is all set to scrap the generation licence of...

Updated 07 Mar, 2024 08:51am

Rs125m TSG for IB approved

ISLAMABAD: The government has approved the provision of an additional Rs125 million to the Intelligence Bureau (IB)...

Updated 07 Mar, 2024 08:50am

ZAB reference: Bilawal heaps praise on SC

ISLAMABAD: Pakistan Peoples Party (PPP) Chairman Bilawal Bhutto Zardari, Wednesday, welcomed the Supreme Court’s...

Updated 07 Mar, 2024 08:50am

BR’s refresher: your morning briefing for the day

Important updates from March 6, 2024

Published 07 Mar, 2024 08:44am

Opinion

Economy on a knife-edge after election

With ballot-box rigging, arbitrary arrests, politicization of the judiciary, media censorship, and endless internet...

Updated 07 Mar, 2024 08:06am

Opinion

A people-centric judiciary

The legacy of colonialism casts a long shadow over many aspects of life in former colonies, not least of which is ...

Updated 07 Mar, 2024 08:06am

BR Research

Oil price: Of Opec, Fed and China

Opec+ did what it was expected to do. The world’s largest oil cartel with nearly 60 percent of the world’s crude oil...

Published 07 Mar, 2024 07:44am

BR Research

Inflation: don’t lower rates on Food (CPI)’s account

The average inflation for the fiscal year 2023-24 may very well be off target, but the taper has most certainly...

Published 07 Mar, 2024 07:42am

BR Research

Dadex Eternit Limited

Dadex Eternit Limited (PSX: DADX) was incorporated in Pakistan as public limited company in 1959. The company is...

Published 07 Mar, 2024 07:39am

Pakistan

The Weather

KARACHI: The weather report on Wednesday (March 06, 2024) and the forecast for Thursday (March 07, 2024)...