News Archives for Latest - 2024-03-22

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Archive - 2024-03-22

World

In Brussels, Foreign Minister Dar urges 'aggressive financing’ for nuclear energy projects

Pakistan Foreign Minister Ishaq Dar on Friday called for "aggressive financing" for nuclear energy projects, saying...

Updated 22 Mar, 2024 11:35pm

Middle East

Russia, China veto US bid on Gaza 'ceasefire' at Security Council

Moscow accuses Washington of 'hypocritical spectacle' that does not pressure Israel
Death toll in war-torn Gaza reaches 32,070 Palestinians, including 82 killed in last 24 hours, health ministry says

Updated 22 Mar, 2024 11:34pm

Pakistan

PM Shehbaz invites Barrick Gold to invest in other mineral projects in Balochistan

Prime Minister Shehbaz Sharif on Friday invited Barrick Gold – the Toronto-based mining company that is working on...

Updated 22 Mar, 2024 11:32pm

World

UK royal Kate says she is having chemotherapy after cancer discovery

LONDON: Kate, Britain’s Princess of Wales, said on Friday she was undergoing preventative chemotherapy after tests...

Published 22 Mar, 2024 11:09pm

World

Blinken says Rafah offensive risks further isolating Israel globally

TEL AVIV: U.S. Secretary of State Antony Blinken said on Friday that an offensive on the southern Gaza city of Rafah...

Published 22 Mar, 2024 10:56pm

Europe

Strong possibility Russia will veto resolution on North Korea sanctions, UN diplomat says

There is a strong possibility Russia will veto a United Nations resolution on Friday calling for continuation of the...

Published 22 Mar, 2024 10:51pm

Markets

National Saving Schemes: CDNS raises rates on some products

Changes take effect from March 19 onward

Updated 22 Mar, 2024 10:34pm

Forex

Bank AL Habib, Allied Bank receive central bank’s nod to commence Exchange Company operations

The State Bank of Pakistan (SBP) has given its green signal to Bank AL Habib Limited (BAHL) and Allied Bank Limited...

Updated 22 Mar, 2024 10:29pm

Business & Economy

To boost reserves, Pakistan to tap China for $300mn Panda Bonds: report

In interview with Bloomberg, finance minister Aurangzeb says option should have been explored 'some time back'

Updated 22 Mar, 2024 10:24pm

Commodities

Gold retreats, falls Rs4,200 per tola in Pakistan

Gold prices in Pakistan reversed course and fell on Friday in line with the decline in the international rate. The...

Updated 22 Mar, 2024 10:09pm

Companies

After launching hybrid, Indus Motor introduces cheaper, petrol variants of Corolla Cross

Gasoline vehicles priced at Rs8.199mn and Rs8.899mn

Updated 22 Mar, 2024 09:53pm

Stocks

KSE-100 extends losses amid selling pressure

The Pakistan Stock Exchange (PSX) endured another negative session on Friday as its benchmark KSE-100 closed 266...

Updated 22 Mar, 2024 09:41pm

Companies

Fatima Fertilizer’s profit jumps 56% in 2023

Fatima Fertilizer Company Limited has reported a profit after tax of Rs23 billion during the year 2023, an increase...

Updated 22 Mar, 2024 09:41pm

Exchange

Rupee records marginal gain against US dollar

Currency settles at 278.14 against the US dollar in inter-bank market

Updated 22 Mar, 2024 08:51pm

Stocks

Wall Street lackluster; S&P 500, Dow set for this year’s best week

Wall Street’s main stock indexes struggled for direction on Friday, though they were on track for strong weekly...

Published 22 Mar, 2024 07:27pm

Money & Banking

Russian central bank keeps rates at 16%, says policy will stay tight

MOSCOW: Russia’s central bank held its key interest rate at 16% on Friday, warning that inflationary pressure...

Published 22 Mar, 2024 05:26pm

Energy

Global LNG: Asia spot LNG gains on supply concerns, steady demand

SINGAPORE: Asian spot liquefied natural gas (LNG) prices edged up this week to a six-week high amid supply concerns...

Published 22 Mar, 2024 05:20pm

Stocks

UAE markets gain on possibility of Gaza ceasefire

Stock exchanges in the United Arab Emirates closed higher on Friday on the possibility of nearing Gaza ceasefire,...

Published 22 Mar, 2024 05:11pm

Money & Banking

India’s forex reserves hit record high

MUMBAI: India’s foreign exchange reserves rose for a fourth straight week to hit a record high of $642.49 billion as...

Published 22 Mar, 2024 05:07pm

Commodities

Copper retreats on firm dollar, profit-taking

LONDON: Copper prices pulled back on Friday on a stronger dollar and as investors locked in profits from a recent...

Published 22 Mar, 2024 05:04pm

Europe

Kremlin warns EU over grain tariffs, frozen assets

MOSCOW: The Kremlin on Friday warned the European Union against plans to impose tariffs on its grain exports and use...

Published 22 Mar, 2024 04:59pm

Sports

De Silva, Mendis hit fighting hundreds to guide Sri Lanka to 280

SYLHET: Dhananjaya de Silva and Kamindu Mendis both hit knocks of 102 to help Sri Lanka fight back against...

Updated 22 Mar, 2024 04:55pm

Europe

‘TikTok Taoiseach’: Simon Harris set to be Ireland’s youngest PM

DUBLIN: Simon Harris, set to become Ireland’s youngest ever taoiseach (prime minister), will hope his social media...

Published 22 Mar, 2024 04:51pm

Europe

Russia may be planning summer offensive, Ukraine warns

KYIV: Russia is building a group of over 100,000 soldiers in advance of what may be a major offensive this summer,...

Published 22 Mar, 2024 04:45pm

Movies & Music

Pakistani musician Faisal Kapadia discusses life in Dubai, plagiarism in industry

Pakistani musician Faisal Kapadia – best known as one half of popular now-defunct band ‘Strings’ – talked about...

Published 22 Mar, 2024 04:30pm

Energy

Oil steady as Gaza ceasefire talks gain traction

LONDON: Oil prices were little changed on Friday, with global benchmark Brent hovering above $85 per barrel, as the...

Updated 22 Mar, 2024 04:31pm

Stocks

Fed optimism powers Indian shares to weekly gains

BENGALURU: Indian shares advanced on Friday, posting weekly gains, helped by a rally fuelled by investor optimism...

Published 22 Mar, 2024 04:28pm

Commodities

Palm oil posts 2% weekly fall on consolidation after recent uptick

SINGAPORE: Malaysian palm oil futures fell on Friday to mark its first weekly loss in five as it consolidated after...

Published 22 Mar, 2024 04:26pm

IMF agreement implementation: PD revises gas supply priorities

Removes captive power plants from its list of prioritised sectors, revises tariff upwards from Rs 1100 to Rs 2750 per mmbtu

Updated 22 Mar, 2024 04:05pm

Pakistan

Chief Justice SHC to serve as monitoring & inspecting Judge of Revenue Courts/Tribunals

The Chief Justice of Sindh High Court (SHC) would serve as the monitoring and inspecting Judge of Revenue Courts/...

Published 22 Mar, 2024 04:00pm

Arts

Cuban Art Factory, fostering 10 years of creativity, expression in Havana

HAVANA: For ten years, the privately-funded Cuban Art Factory in Havana has provided a space for local talent to...

Published 22 Mar, 2024 03:50pm

Technology

Social media company Reddit surges after NYSE debut

NEW YORK: Shares of social media company Reddit soared nearly 50 percent on the New York Stock Exchange Thursday in...

Published 22 Mar, 2024 03:30pm

Pakistan

Two soldiers martyred in DI Khan suicide attack

Two security personnel were martyred after a suicide bomber exploded himself on a security forces’ convoy in Dera...

Updated 22 Mar, 2024 03:07pm

Stocks

FTSE 100 eyes second weekly gain on BoE’s dovish tilt

The UK’s FTSE 100 inched up on Friday as investors continued to cheer the dovish tilt in the Bank of England’s...

Published 22 Mar, 2024 02:47pm

Europe

Ukraine says occupied Zaporizhzhia nuclear power plant on verge of blackout

KYIV: Ukraine’s nuclear power company said on Friday the Russian-occupied Zaporizhzhia nuclear power plant, which...

Published 22 Mar, 2024 02:46pm

Europe

Russian government says fuel cargos to take priority on railways

MOSCOW: The Russian energy ministry said on Friday that the transportation of fuel would take priority on railways...

Published 22 Mar, 2024 02:29pm

USA

UN Security Council to vote on Gaza ceasefire with uncertain outcome

UNITED NATIONS: The United States, which has repeatedly blocked calls for a truce in Gaza, will submit a draft...

Updated 22 Mar, 2024 02:22pm

Forex

Kenyan shilling steady; expected to gain in days ahead

NAIROBI: Kenya’s shilling was unchanged on Friday, with little importer demand for dollars in the market, but was...

Published 22 Mar, 2024 02:11pm

Forex

Ugandan shilling weakens due to energy and manufacturing sector FX demand

KAMPALA: The Ugandan shilling weakened on Friday, undermined by appetite for dollars from the energy and...

Published 22 Mar, 2024 02:09pm

Pakistan

SC sets aside dismissal of former judge Shaukat Aziz Siddiqui

A five-member bench led by Chief Justice of Pakistan (CJP) Qazi Faez Isa announce reserved verdict

Published 22 Mar, 2024 02:02pm

Life & Style

Content creators worry about miseducation in a world without TikTok

LOS ANGELES: It was December 2020 during the height of the COVID-19 pandemic when “Ms. James”, a public school...

Published 22 Mar, 2024 01:24pm

Sports

T20 World Cup stars can boost US cricket, says ex-England quick Plunkett

LONDON: England World Cup winner Liam Plunkett says cricket superstars such as Virat Kohli and Babar Azam can help...

Published 22 Mar, 2024 12:50pm

Stocks

Hong Kong stocks end morning down more than 3%

HONG KONG: Hong Kong stocks ended the morning more than three percent lower on Friday as tech firms tanked after a...

Published 22 Mar, 2024 12:44pm

South Asia

Narendra Modi opponent to challenge arrest ahead of India election

NEW DELHI: A top Indian opposition politician was expected to fight his arrest in court Friday in a case supporters...

Published 22 Mar, 2024 12:36pm

Middle East

Antony Blinken heads to Israel to press for ‘immediate’ truce in Gaza war

GAZA STRIP: Secretary of State Antony Blinken heads to Israel Friday to press for a truce in Gaza, ahead of a key UN...

Published 22 Mar, 2024 12:27pm

Asia

Indonesia ends search for Rohingya refugees after boat capsized

MEULABOH: Indonesian rescuers called off the search for Rohingya refugees missing at sea after their boat capsized,...

Published 22 Mar, 2024 11:55am

World

UK, Australia call for ‘immediate cessation of fighting’ in Gaza

ADELAIDE: Britain and Australia declared the need for an “immediate cessation of fighting” in Gaza, as diplomatic...

Published 22 Mar, 2024 11:51am

Asia

North Korea sends delegation to China, Vietnam, Laos, KCNA says

SEOUL/BEIJING: North Korea has sent a delegation to China, Vietnam and Laos, state media KCNA said on Friday, as the...

Published 22 Mar, 2024 11:35am

Stocks

Asia shares on a roll as SNB kicks off rate cuts

SINGAPORE: Asian stocks were near a weekly gain on Friday and the Nikkei charged to a record high, riding a rally...

Published 22 Mar, 2024 11:26am

Sports

Another Kei Nishikori’s comeback ends in early Miami exit

MIAMI: Kei Nishikori’s return to competitive tennis suffered an early blow on Thursday when the former-Miami Open...

Published 22 Mar, 2024 11:21am

Commodities

Palm oil eases on soft rival oils, heads for weekly loss

SINGAPORE: Malaysian palm oil futures fell on Friday amid lower edible and crude oil prices, with the market set for...

Published 22 Mar, 2024 11:16am

Opinion

Income, not consumption, taxes: Applying a ‘national income tax’ for a welfare state

‘The fundamental injustice of consumption taxes, relative to income taxes, is that the well-off can postpone them by...

Updated 22 Mar, 2024 11:00am

Business & Finance

BOJ’s Ueda eyes future decline in bond buying

TOKYO: Bank of Japan Governor Kazuo Ueda said on Friday the central bank will eventually scale back its government...

Published 22 Mar, 2024 10:48am

Sports

Daniil Medvedev begins Miami defence in the shadow of tour’s latest rivalry

MIAMI: Daniil Medvedev begins his Miami Open campaign on Friday but the Russian will struggle to generate the kind...

Published 22 Mar, 2024 10:45am

Asia

Russia, Ukraine see crisis eventually resolved through talks, China’s special envoy says

BEIJING: Russia and Ukraine believe that their crisis will be solved through talks, even as both are adamant on...

Updated 22 Mar, 2024 10:40am

Bullion Rate

Gold dips on stronger dollar after Fed-driven rally

Gold prices slipped on Friday due to a stronger dollar, but were set for a fourth weekly rise in five as the U.S...

Published 22 Mar, 2024 10:37am

Sports

Maria Sakkari romps into Miami third round, Wozniacki loses in thriller

MIAMI: Maria Sakkari was back to winning ways just days after losing the Indian Wells final as she demolished...

Published 22 Mar, 2024 10:34am

Forex

China yuan falls to four-month low, state banks step in

SHANGHAI: China’s yuan declined to a four-month low against the dollar on Friday, breaching a key threshold and...

Published 22 Mar, 2024 10:29am

Forex

Australia, NZ dollars set for 2nd straight weekly decline as yuan slides

SYDNEY: The Australian and New Zealand dollars on Friday were headed for a second straight week of losses against a...

Published 22 Mar, 2024 10:26am

Europe

Russian missile strikes damage power supply in Ukraine’s Kharkiv

About 15 blasts were heard in Ukraine’s Kharkiv on Friday morning, mayor Ihor Terekhov said, and Russian missile...

Published 22 Mar, 2024 10:24am

Mutual Funds

Japan JGBs hemmed in by BOJ’s actions and words

SINGAPORE: Japanese government bonds were boxed in a tight range on Friday, supported by Bank of Japan’s bond buying...

Published 22 Mar, 2024 10:22am

Companies

PepsiCo to invest $400mn more in two new plants in Vietnam

HANOI: US food and drink maker PepsiCo Inc has committed to investing an additional $400 million in Vietnam to build...

Published 22 Mar, 2024 10:19am

Asia

Magnitude 6.1 quake strikes off Indonesia’s Java island, geophysics agency says

JAKARTA: A magnitude 6.1 earthquake struck off the shore of Indonesia’s Java island on Friday, at a depth of 10km...

Published 22 Mar, 2024 10:17am

Stocks

Indian shares set to open higher; IT stocks in focus

BENGALURU: Indian shares are likely to open marginally higher on Friday after joining the global rally in the...

Published 22 Mar, 2024 10:10am

Mutual Funds

Indian bond yields seen little changed on record supply from states

MUMBAI: Indian government bond yields are expected to be largely unchanged in the early session on Friday, as yet...

Published 22 Mar, 2024 10:08am

Stocks

Australian shares slip as jobs data tempers rate-cut bets

Australian shares dipped on Friday, dragged down by heavyweight financials and miners, while investors refrained...

Published 22 Mar, 2024 10:03am

Stocks

Japan’s Nikkei hits record high on Wall Street gains, weaker yen

TOKYO: Japan’s Nikkei share average hit a record high on Friday, underpinned by the strength on Wall Street...

Published 22 Mar, 2024 10:00am

Forex

Indian rupee weakens to over three-month low on weak Asia FX; forward premiums dip

MUMBAI: The Indian rupee dropped to its lowest level in more than three months on Friday, tracking the weakness in...

Published 22 Mar, 2024 09:58am

Forex

Dollar steadfast as investors seek ‘carry’

SINGAPORE: The US dollar was set for a second week of broad gains on Friday, with even a rate hike in Japan unable...

Published 22 Mar, 2024 09:56am

‘Election irregularities’: Pakistan expresses desire to address ‘misunderstandings’

ISLAMABAD: Pakistan has expressed its desire to engage in meaningful discussions with the United States to address...

Updated 22 Mar, 2024 09:50am

SIFC apex body vows to take ‘tough’ decisions

Underscores the need to continue a consensual approach under SIFC to navigate the myriad of challenges being faced by the country

Updated 22 Mar, 2024 09:50am

ADB official, Aurangzeb discuss collaboration

ISLAMABAD: Country Director of the Asian Development Bank (ADB) Young Ye called on Minister for Finance and Revenue...

Updated 22 Mar, 2024 09:47am

Fiscal deficit: OICCI submits proposals to Aurangzeb

ISLAMABAD: The Overseas Investors Chamber of Commerce and Industry (OICCI) has submitted proposals to the government...

Updated 22 Mar, 2024 09:46am

Business & Finance

Forex reserves rise by $239m

KARACHI: The country’s total liquid foreign reserves rose by $239 million during the last week, the State Bank of...

Updated 22 Mar, 2024 09:45am

Power, gas theft: FIA asked to launch ‘massive’ crackdown

ISLAMABAD: Interior Minister Mohsin Naqvi on Thursday directed the Federal Investigation Agency (FIA) to launch a...

Updated 22 Mar, 2024 09:44am

BR Research

Power generation: Paying more for less

Electricity generation in February 2024 went down 9 percent year-on-year to 6.9 billion units – marking the fifth...

Published 22 Mar, 2024 09:02am

BR Research

Rice exports: the peak is behind us

Small wins should be celebrated, big wins, even more so. During the current fiscal year 2023-24, Pakistan’s foreign...

Published 22 Mar, 2024 08:59am

BR Research

Shahtaj Textile Limited

Shahtaj Textile Limited (PSX: STJT) was incorporated in Pakistan as a public limited company in 1990. The company is...

Published 22 Mar, 2024 08:45am

MYT components and other adjustments: Six Discos seek Rs5 raise in tariff

ISLAMABAD: Six power Distribution Companies (Discos) have sought increase in tariff of about Rs5 to recover about...

Updated 22 Mar, 2024 08:33am

Jul-Feb 2023-24: $6.678bn borrowed from multiple sources

ISLAMABAD: The country borrowed $ 6.678 billion from multiple financing sources during the first eight months...

Updated 22 Mar, 2024 08:33am

Today MoF going to embark upon budgetary works

ISLAMABAD: The Ministry of Finance (MoF) is all set to start Demand Review Committee/Priority Committee meeting from...

Updated 22 Mar, 2024 08:32am

World Bank may approve $150m for two projects today

ISLAMABAD: The World Bank’s Board of Executive Directors is likely to approve $ 150 million in financing for...

Updated 22 Mar, 2024 08:32am

BR’s refresher: your morning briefing for the day

Important updates from March 21, 2024

Published 22 Mar, 2024 08:31am

Sports

Javeria Khan announces retirement from int’l cricket

LAHORE: Woman cricketer Javeria Khan has announced her retirement from international cricket, 15 years after making...

Updated 22 Mar, 2024 05:41am

Opinion

Evolution of Pakistan’s trade dispute resolution regime: Through the gloom, the silver linings we should see

There is a lot of gloom in Pakistan these days. In that miasma it is sometimes difficult to see and appreciate the...

Updated 22 Mar, 2024 05:36am

Opinion

Gold price surges to record high

The “DOT PLOT”, which predicts three interest rate decreases in 2024, remains intact despite Fed Chairman...

Updated 22 Mar, 2024 05:33am

Opinion

Violations of privacy rights

Pakistan not only faces economic and political challenges but has also to contend with multiple pressing issues...

Updated 22 Mar, 2024 05:28am

Rates

BRIndex100 and BR Sectoral Indices

KARACHI: BRIndex100 and BR Sectoral Indices on Thursday (March 21, 2024). ==================================== BR...