News Archives for Latest - 2024-03-20

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Archive - 2024-03-20

World

Israeli air strike in West Bank kills three Palestinian fighters

JENIN: Israeli forces killed three Palestinians and wounded another in an air strike in the occupied West Bank city...

Published 20 Mar, 2024 11:54pm

Europe

Dutch providing Ukraine with F-16 ammunition, drones, minister says

KYIV: The Netherlands is providing Ukraine with 350 million euros for F-16 fighter jet ammunition and advanced...

Published 20 Mar, 2024 11:46pm

Interest Rates

Fed still sees three rate cuts in 2024 amid sticky inflation, stronger economy

WASHINGTON: The Federal Reserve held interest rates steady on Wednesday, but policymakers indicated they still...

Published 20 Mar, 2024 11:13pm

Stocks

Positive trend continues at PSX as Pakistan, IMF reach staff-level agreement

Stocks at the Pakistan Stock Exchange (PSX) maintained their bullish trend on Wednesday after the Pakistani...

Updated 20 Mar, 2024 10:20pm

Pakistan

PM Shehbaz, cabinet members will not draw salaries

Cabinet also discusses overall economic and security situation of the country

Updated 20 Mar, 2024 10:19pm

Pakistan

COAS Munir, Saudi crown prince discuss defence, security cooperation

Crown prince expresses desire to further strengthen bilateral ties with Pakistan

Updated 20 Mar, 2024 10:17pm

Markets

‘Difficult, but necessary’: analysts weigh in on future with IMF

Believe tougher measures are likely to follow as Pakistan moves to 'successor medium-term Fund-supported programme'

Updated 20 Mar, 2024 10:17pm

Pakistan

President Zardari approves dismissal of ex-justice Mazahar Ali Naqvi

President Asif Ali Zardari approved on Wednesday the dismissal of Supreme Court’s ex-justice Mazahar Ali Naqvi for...

Updated 20 Mar, 2024 10:07pm

Business & Economy

Pakistan, IMF reach staff-level agreement on final review of $3bn SBA

Subject to IMF board approval, Pakistan will have access to around $1.1bn

Updated 20 Mar, 2024 10:07pm

Pakistan

US Congressional hearing: Donald Lu says Imran’s cypher allegation ‘complete falsehood’

US Assistant Secretary of State Donald Lu on Wednesday rejected former Pakistan prime minister Imran Khan’s...

Updated 20 Mar, 2024 10:06pm

Business & Economy

FDI in Pakistan falls over 17% in 8MFY24

However, net FDI during February alone higher on yearly and monthly basis

Updated 20 Mar, 2024 09:55pm

Pakistan

8 terrorists killed after attack on Gwadar Port Authority complex, says CM Balochistan

Baloch Liberation Army claims responsibility for the assault

Updated 20 Mar, 2024 09:54pm

Middle East

Hamas says latest Israeli position on Gaza truce ‘generally negative’

BEIRUT: A senior Lebanon-based Hamas official said Wednesday that Israel’s response to the latest proposal from the...

Published 20 Mar, 2024 09:38pm

Middle East

Saudi Arabia announces $40mn donation to UN agency for Palestinians

RIYADH: Saudi Arabia announced Wednesday it will donate $40 million to the UN agency for Palestinian refugees,...

Published 20 Mar, 2024 09:35pm

Pakistan

Security forces kill two terrorists in North Waziristan operation: ISPR

Security forces are committed to eliminating terrorism from the country, the military's media wing says

Published 20 Mar, 2024 08:46pm

Pakistan

Explosion in Pakistan coal mine kills 12 miners

Twelve miners were killed and eight rescued after an explosion in a coal mine in south-western Pakistan, officials...

Updated 20 Mar, 2024 08:35pm

Stocks

Major Gulf bourses end mixed; Egypt extends losses

Major stock markets in the Gulf put in a mixed performance on Wednesday as investors were cautious ahead of the U.S....

Published 20 Mar, 2024 08:26pm

Middle East

Blinken lands in Saudi for Gaza talks ahead of Israel visit

JEDDAH: US Secretary of State Antony Blinken landed in Saudi Arabia Wednesday as part of a regional tour to discuss...

Published 20 Mar, 2024 08:19pm

Stocks

US stocks dip ahead of Fed rate decision

NEW YORK: Wall Street stocks dipped early Wednesday ahead of a Federal Reserve decision expected to shed light on...

Published 20 Mar, 2024 08:14pm

Europe

Ireland’s Varadkar unexpectedly quits as PM

DUBLIN: Leo Varadkar said on Wednesday he would step down as Ireland’s prime minister and the leader of the...

Published 20 Mar, 2024 07:58pm

Arts

Photographer Annie Leibovitz: ‘AI doesn’t worry me at all’

PARIS: Photographer to the stars Annie Leibovitz, inducted into the French Academy of Fine Arts on Wednesday, told...

Published 20 Mar, 2024 07:54pm

Money & Banking

US Fed expected to keep rates on hold and debate timing of cuts

WASHINGTON: The US Federal Reserve could provide additional clues on Wednesday about how much it will cut interest...

Published 20 Mar, 2024 06:36pm

Europe

Russian shelling kills three in Kharkiv, Ukraine says

KHARKIV: Ukraine said Wednesday that Russian shelling had killed three people and wounded five in the northeastern...

Published 20 Mar, 2024 06:33pm

Pakistan

IHC suspends sentences of DC Islamabad, others in contempt case

The Islamabad High Court (IHC) on Wednesday suspended sentences of Deputy Commissioner Islamabad Irfan Nawaz Memon,...

Published 20 Mar, 2024 06:20pm

Business & Finance

With Dubai Taxi Company and Parkin, IPOs in emirate are booming: what’s next?

The past few months have seen the Dubai government sell stakes in two of its entities - Dubai Taxi Company (DTC) and...

Updated 20 Mar, 2024 05:54pm

Middle East

Israel defence chief to visit US as Rafah pressure builds

OCCUPIED JERUSALEM: Israeli Defence Minister Yoav Gallant is to visit Washington in the coming week, the government...

Published 20 Mar, 2024 05:24pm

Stocks

Stock markets turn hesitant before Fed, yen softens

LONDON: European equity markets mostly fell Wednesday despite a bright Asian performance and fresh Wall Street...

Updated 20 Mar, 2024 05:20pm

Sports

World Boxing to seek IOC recognition for 2028 Games

LONDON: World Boxing will seek recognition from Olympic organisers to replace the Russian-led International Boxing...

Published 20 Mar, 2024 05:14pm

Europe

Russia says EU frozen assets plan is theft, will lead to decades of lawsuits

MOSCOW: Russia on Wednesday said a proposal by European Union foreign policy chief Josep Borrell to take 90% of...

Published 20 Mar, 2024 05:05pm

Money & Banking

ECB cannot commit to rate path even after first cut, Lagarde says

FRANKFURT: The European Central Bank cannot commit to a pre-set number of interest rate cuts even after it starts...

Published 20 Mar, 2024 04:56pm

Energy

Oil retreats from multi-month highs ahead of Fed decision

LONDON: Oil prices edged lower on Wednesday after hitting multi-month highs in the previous session, as investors...

Updated 20 Mar, 2024 04:48pm

Stocks

Indian shares flat as caution prevails on key Fed decision day

BENGALURU: India’s blue-chips treaded water on Wednesday, hovering around five-week lows hit in the previous...

Published 20 Mar, 2024 04:46pm

Stocks

Sri Lanka shares end lower as industrials, consumer staples drag

CSE All-Share index settled 0.31% lower at 11,240.94

Published 20 Mar, 2024 04:44pm

Commodities

Copper slips on demand worries, lead drops as inventories jump

LONDON: Copper prices retreated further from an 11-month peak on Wednesday, on worries about demand in top metals...

Published 20 Mar, 2024 04:42pm

Commodities

Palm oil rebounds on strong exports

JAKARTA: Malaysian palm oil futures rebounded on Wednesday, as better export figures and expectation of easing...

Published 20 Mar, 2024 04:40pm

Currency

Rupee records marginal gain against US dollar

Currency settles at 278.41 level in the inter-bank market against the US dollar

Updated 20 Mar, 2024 04:22pm

Luxury

Kering anticipates 10% sales drop due to Gucci decline: statement

PARIS: French luxury giant Kering said Tuesday it is anticipating a 10-percent drop in year-on-year sales in the...

Published 20 Mar, 2024 03:52pm

Energy

India’s Feb Russian oil imports edged up from January

NEW DELHI: India’s import of Russian oil edged up in February over January, reversing declines seen in the past two...

Published 20 Mar, 2024 03:33pm

Business & Finance

Ghana’s fourth-quarter economic growth rises to 3.8%

ACCRA: Ghana’s economy grew 3.8% year-on-year in the fourth quarter of 2023, the country’s statistics agency said on...

Published 20 Mar, 2024 03:32pm

Middle East

Israeli military says it killed 90 ‘gunmen’ at Gaza’s Al Shifa hospital

OCCUPIED JERUSALEM: Israel’s military said on Wednesday it had killed around 90 “gunmen” and arrested 160 in a raid...

Published 20 Mar, 2024 03:25pm

Forex

Kenya’s shilling steady, expected to firm due to tea exporter inflows

NAIROBI: Kenya’s shilling was stable on Wednesday and was forecast to strengthen, helped by dollar inflows from tea...

Published 20 Mar, 2024 02:13pm

Stocks

FTSE 100 dips in run-up to Fed verdict; UK inflation softens

London’s FTSE 100 opened lower on Wednesday, as investors remained cautious ahead of the Federal Reserve’s decision...

Published 20 Mar, 2024 02:11pm

Sports

Virat Kohli, Pant in spotlight as IPL mega-show returns

NEW DELHI: Virat Kohli and Rishabh Pant will be under scrutiny on their return to action as the Indian Premier...

Published 20 Mar, 2024 02:01pm

Life & Style

Second British royal photograph involving Kate was digitally altered

LONDON: A second royal photograph issued to the media by Kensington Palace, the office of Prince William and his...

Published 20 Mar, 2024 01:48pm

South Asia

India’s Modi shows confidence about elections; asks ministries for 5-year goals

NEW DELHI: Indian Prime Minister Narendra Modi has asked all ministries to propose annual goals for their...

Published 20 Mar, 2024 01:36pm

Forex

South African rand flat ahead of inflation, retail sales data

JOHANNESBURG: South Africa’s rand was flat early on Wednesday as investors awaited inflation and retail sales data...

Published 20 Mar, 2024 01:34pm

Europe

Trade will be high on agenda during Xi’s visit to Paris in May, sources say

BEIJING/PARIS: Trade will be high on the agenda when Chinese President Xi Jinping meets his French counterpart...

Published 20 Mar, 2024 01:33pm

Business & Finance

UK inflation slows to 3.4% in February

LONDON: British consumer prices rose by a slightly weaker-than-expected 3.4% in annual terms in February, slowing...

Published 20 Mar, 2024 01:31pm

Europe

Ukraine’s foreign minister to visit India next week, sources say

Ukraine’s foreign minister, Dmytro Kuleba, will visit India next week as Kyiv looks to build support for its peace...

Published 20 Mar, 2024 01:29pm

Commodities

Algeria buys 100,000 to 200,000 T durum wheat, traders say

HAMBURG: Algeria’s state grains agency OAIC is believed to have purchased durum wheat in an international tender...

Published 20 Mar, 2024 01:28pm

Commodities

Shanghai nickel, tin fall as Indonesia ramps up mining quota approval process

BEIJING: Nickel and tin prices in Shanghai declined on Wednesday, as investors eyed more mining output from main...

Published 20 Mar, 2024 01:27pm

Commodities

China 2024 coal output seen about 1% higher, industry group says

BEIJING: China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in...

Published 20 Mar, 2024 01:26pm

Life & Style

Gloomy youth pull US and western Europe down global happiness ranking

LONDON: Rising unhappiness among younger people has caused the United States and some large western European...

Published 20 Mar, 2024 01:25pm

Africa

Attackers shoot 15 dead in South Sudan, including local commissioner, says official

JUBA: Unidentified youths have shot dead 15 people in South Sudan’s Pibor region, a senior official said on...

Published 20 Mar, 2024 01:24pm

Forex

Russian rouble steadies, boosted by strong oil and upcoming taxes

MOSCOW: The rouble hovered near 92.5 to the dollar on Wednesday, steadying after a few volatile sessions around...

Published 20 Mar, 2024 01:22pm

Bullion Rate

Gold price per tola increases Rs500 in Pakistan

Gold rates in Pakistan advanced on Wednesday in line with an increase in the international rate. The yellow metal...

Published 20 Mar, 2024 12:55pm

IMF comes up with new ‘wish list’

ISLAMABAD: The International Monetary Fund (IMF) has recommended that the existing number of excisable goods is...

Updated 20 Mar, 2024 12:23pm

Blome apprised of govt’s approach to IMF lending

Donald Blome and finance minister Aurangzeb discuss important matters related to bilateral cooperation

Updated 20 Mar, 2024 12:23pm

Sports

Tennis rallies around Sabalenka at Miami Open after boyfriend’s death

MIAMI: World number two Aryna Sabalenka intends to play in the Miami Open this week, organisers said Tuesday, as...

Published 20 Mar, 2024 12:16pm

Stocks

Hong Kong stocks rise at open

HONG KONG: Hong Kong stocks began Wednesday slightly higher following the previous day’s big loss, with focus now on...

Published 20 Mar, 2024 12:14pm

Sports

Verstappen heavy favourite in Melbourne as Red Bull drama rumbles on

MELBOURNE: Max Verstappen will be heavy favourite to make it three wins from three this season as his Red Bull team...

Published 20 Mar, 2024 12:12pm

Sports

Japan warns football fans not to go to North Korea for World Cup qualifier

TOKYO: Japan has warned football fans not to attempt to travel to “hostile” North Korea for next week’s World Cup...

Published 20 Mar, 2024 12:08pm

Asia

14 killed, 37 injured in north China road tunnel accident

BEIJING: Fourteen people were killed and 37 others injured after a bus crashed inside an expressway tunnel in...

Published 20 Mar, 2024 12:05pm

Middle East

Antony Blinken due in Mideast in new bid to secure truce

GAZA STRIP: US Secretary of State Antony Blinken was due to return Wednesday to the Middle East in a new bid to...

Published 20 Mar, 2024 12:01pm

APTMA shares ‘policy roadmap’ with minister Jam

ISLAMABAD: All Pakistan Textile Mills Association (APTMA) has shared a policy road-map with newly-appointed Commerce...

Updated 20 Mar, 2024 11:58am

Business & Finance

PBS inflation rates understated, says economist

ISLAMABAD: “Consumer price index (CPI) and sensitive prices index (SPI) based inflation rates computed by the...

Updated 20 Mar, 2024 11:57am

South Asia

Afghan schools restart, with girls barred for third year running

KABUL: Schools in Afghanistan opened for the new academic year on Wednesday, the education ministry said, with girls...

Published 20 Mar, 2024 11:47am

Europe

Russia conducts navy drills in Sea of Japan

A detachment of Russia’s Pacific Fleet ships conducted comprehensive naval exercises, including live fire, in the...

Published 20 Mar, 2024 11:25am

Sports

Back from suspension, Simona Halep falls in three sets in Miami

Two-time Grand Slam winner and former World No. 1 Simona Halep of Romania returned from a nine-month suspension...

Published 20 Mar, 2024 11:22am

Business & Finance

China’s central bank reshuffles monetary policy committee

BEIJING: China’s central bank said it has reshuffled its monetary policy committee to include securities regulator...

Published 20 Mar, 2024 11:19am

Business & Finance

Malaysia’s central bank calls for reforms with economy on firmer footing

KUALA LUMPUR: Malaysia’s central bank on Wednesday called for an acceleration of structural reforms to ensure...

Published 20 Mar, 2024 11:14am

Middle East

In Gaza, starving children fill hospital wards as famine looms

GAZA/GENEVA: Six-year-old Fadi al-Zant is acutely malnourished, his ribs protruding under leathery skin, his eyes...

Published 20 Mar, 2024 11:04am

Business & Finance

Jul-Feb ITeS export remittances rise 14.9pc to $1.977bn YoY

ISLAMABAD: IT and IT-enabled Services (ITeS) export remittances comprising computer services and call centre...

Updated 20 Mar, 2024 10:44am

Asia

South Korean-flagged tanker capsizes off coast of Japan, media reports

TOKYO: A South Korean-flagged chemical tanker has capsized off the coast of Yamaguchi prefecture in western Japan,...

Published 20 Mar, 2024 10:42am

Europe

Russia, Ukraine report air attacks in border areas, evacuate civilians

Russia and Ukraine said they repelled numerous air attacks late Tuesday and early Wednesday, with intensified...

Published 20 Mar, 2024 10:39am

Energy

China’s Jan-Feb fuel oil imports rise 21% y/y

China’s fuel oil imports for the January and February period rose by a fifth from a year ago, data from the General...

Published 20 Mar, 2024 10:37am

Technology

Samsung Elec expects $100mn or more sales from advanced chip packaging business

SEOUL: Samsung Electronics expects $100 million or more of revenue from its next batch of advanced chip-packaging...

Published 20 Mar, 2024 10:35am

Asia

Britain’s David Cameron says Gaza ceasefire crucial but ‘a whole lot of conditions’ to meet

NAKHON RATCHASIMA: Britain’s Foreign Secretary David Cameron on Wednesday said it was vital for a pause in fighting...

Published 20 Mar, 2024 10:33am

Commodities

Soybeans tick up on short-covering, wheat near one-week high

SINGAPORE: Chicago soybean futures edged higher on Wednesday as unwinding of short positions by traders supported...

Published 20 Mar, 2024 10:31am

Stocks

Asia stocks shaky ahead of Fed, yen hits 4-month low

SYDNEY: Asian shares were hesitant on Wednesday on concerns the Federal Reserve could signal a slower path of rate...

Published 20 Mar, 2024 10:27am

Bullion Rate

Gold holds in tight range ahead of Fed verdict, Powell speech

Gold prices were stuck in a tight range on Wednesday as traders prepared for a key policy decision from the US...

Published 20 Mar, 2024 10:26am

Commodities

Palm rebounds on Dalian strength

JAKARTA: Malaysian palm oil futures rebounded on Wednesday after recent falls, as the market tracked strength in...

Published 20 Mar, 2024 10:24am

Mutual Funds

Indian bond yields seen steady as traders await Fed decision

MUMBAI: Indian government bond yields are expected to trade little changed early on Wednesday, as investors await...

Published 20 Mar, 2024 10:23am

Technology

Apple boss Tim Cook visits Shanghai, with China sales under pressure

SHANGHAI: Apple CEO Tim Cook said he is currently visiting Shanghai, according to a post on his Weibo account on...

Published 20 Mar, 2024 10:22am

Forex

China’s yuan steady as firmer guidance offset broad dollar strength

SHANGHAI: China’s yuan held steady near a key threshold on Wednesday, as broad dollar strength was offset by...

Published 20 Mar, 2024 10:19am

Forex

Indian rupee awaits Fed’s forecast on number of interest rate cuts

MUMBAI: The Indian rupee is set for a quiet session on Wednesday, eyeing whether the US Federal Reserve will signal...

Published 20 Mar, 2024 10:18am

Stocks

Indian shares open higher led by auto, energy stocks

BENGALURU: Indian shares opened higher on Wednesday, led by a rebound in auto and energy stocks, and tracking Asian...

Published 20 Mar, 2024 10:17am

Stocks

Banks, energy stocks push Australian shares higher; Fed decision in focus

Australian shares edged up on Wednesday, supported by financials and energy stocks, while investors turn their focus...

Published 20 Mar, 2024 10:16am

Forex

Yen flounders near four month low, Fed in spotlight

SINGAPORE: The yen languished near a four-month low against the US dollar and a 16-year trough against the euro on...

Published 20 Mar, 2024 09:52am

Feb C/A posts $128m surplus

KARACHI: The country’s Current Account has presented an improved picture and recorded a surplus of $128 million in...

Updated 20 Mar, 2024 09:49am

IMF-Govt talks conclude

ISLAMABAD: Pakistan and International Monetary Fund (IMF) have concluded talks on second review of the $3 billion...

Updated 20 Mar, 2024 09:49am

Chinese ambassador meets Aurangzeb: CPEC’s next phase to focus on monetisation of earlier gains

ISLAMABAD: Chinese Ambassador Jiang Zaidong called on Finance Minister Muhammad Aurangzeb to discuss key matters...

Updated 20 Mar, 2024 09:47am

Section 22 (2) of Employees’ Old-Age Benefits Act: SC explains how an insured person can avail exception

ISLAMABAD: The Supreme Court held to avail the exception under Section 22 (2) of the Employees’ Old-Age Benefits...

Updated 20 Mar, 2024 08:46am

Non-submission of comments: PHC attaches salary of FBR chief?

ISLAMABAD: The Peshawar High Court (PHC) has attached the salary of the chairman of the Federal Board of Revenue...

Updated 20 Mar, 2024 08:46am

Govt yet to firm up strategy to overcome electricity challenge

ISLAMABAD: The federal government is yet to firm up a strategy to deal with the prevailing power sector crises with...

Updated 20 Mar, 2024 08:44am

RDA fetches $141m inflows in Feb

KARACHI: The country received fresh foreign inflows amounted to $ 141 million through the Roshan Digital Accounts...

Updated 20 Mar, 2024 08:44am

BR’s refresher: your morning briefing for the day

Important updates from March 19, 2024

Published 20 Mar, 2024 08:42am

BR Research

Gas price: End the cross subsidy

For the longest time, two-thirds of Pakistanis paid significantly more for their heating requirements than the other...

Published 20 Mar, 2024 06:41am

BR Research

Cement: No shrinkage yet

To say that the cement industry has managed to come out of the first half of the fiscal year 2024—a very tough...

Published 20 Mar, 2024 06:37am

BR Research

Telecard Limited Company

Telecard Limited Company (PSX: TELE) was incorporated in Pakistan as a public limited company in 1992. The company...

Published 20 Mar, 2024 06:29am

Opinion

The power of pen

Every tragedy comes with a lesson. Liaquat Ali Chattha, the then Commissioner of Rawalpindi division, held a press...

Updated 20 Mar, 2024 04:12am

Opinion

Freelancer tax exemptions killing IT export corporate sector?

Just like IT export businesses, Pakistan also gives tax exemptions to freelancers on their export income. However,...

Updated 20 Mar, 2024 04:11am

Opinion

The big fat wedding business

OMG. Incredible. Astounding. Mindblowing. Stunning. Mesmerizing. And, you can go on and on with adjectives that...