News Archives for Latest - 2024-04-05

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Archive - 2024-04-05

World

Magnitude 4.8 earthquake hits New York City region, USGS says

NEW YORK: A 4.8-magnitude earthquake struck near New York City on Friday morning, the U.S. Geological Survey said,...

Updated 06 Apr, 2024 01:21am

Energy

Oil prices climb more than $1 per barrel on supply risk

Brent crude was up $1.00, or 1.1%, to $91.65 a barrel

Updated 05 Apr, 2024 11:59pm

Energy

K-Electric says will introduce low-cost renewable energy solutions for Karachi citizens

K-Electric announced on Thursday a development aimed at alleviating the burden of expensive electricity for the...

Published 05 Apr, 2024 11:49pm

Europe

UK govt says reviewing Israel probe into Gaza aid strike

LONDON: The British government on Friday called for “utmost transparency” and a “wholly independent review” into the...

Published 05 Apr, 2024 10:39pm

World

CIA chief expected in Cairo for Gaza hostage talks

WASHINGTON: CIA Director Bill Burns is expected in Cairo for talks on freeing hostages held in Gaza, which the White...

Published 05 Apr, 2024 10:34pm

Pakistan

In call with Blinken, Ishaq Dar emphasises strengthening bilateral cooperation

Foreign minister says he reaffirmed commitment to work together to promote cooperation in fields of trade, economy, investment, and counter terrorism

Published 05 Apr, 2024 10:21pm

Bullion Rate

Gold price per tola decreases Rs900 in Pakistan

Gold rates in Pakistan decreased on Friday in line with a decline in the international rate. The yellow metal was...

Updated 05 Apr, 2024 10:25pm

Pakistan

Indian govt ordered killing of 20 individuals in Pakistan: report

The Indian government ordered killing of 20 individuals in Pakistan as part of a wider strategy to “eliminate...

Updated 05 Apr, 2024 10:24pm

Business & Economy

IMF Executive Board meeting expected ‘late April’

IMF official says growth and confidence are continuing to recover in Pakistan

Updated 05 Apr, 2024 10:22pm

Pakistan

PM Shehbaz to meet Saudi crown prince on Riyadh visit

ISLAMABAD: Prime Minister Shehbaz Sharif will meet the Saudi crown prince during a two-day visit to Riyadh that...

Updated 05 Apr, 2024 10:14pm

Business & Economy

UN expects Pakistan’s GDP growth to clock in at 2% in 2024, improve further in 2025

Pakistan’s real GDP growth rate is expected to clock in at 2% in 2024 and inch up marginally to 2.3% in 2025, a...

Updated 05 Apr, 2024 10:10pm

Middle East

Israel announces ‘temporary’ opening of aid routes into Gaza

OCCUPIED JERUSALEM: Israel announced on Friday that it would allow “temporary” aid deliveries into famine-threatened...

Updated 05 Apr, 2024 10:08pm

Asia

Taiwan earthquake rescuers face threat of landslides, rockfalls as death toll at 12

HUALIEN: Rescuers in Taiwan faced the threat of further landslides and rockfalls in their search on Friday for a...

Updated 05 Apr, 2024 09:50pm

Money & Banking

India’s foreign exchange reserves rise for sixth week to record high

MUMBAI: India’s foreign exchange reserves rose for a sixth straight week to hit a lifetime high of $645.58 billion...

Published 05 Apr, 2024 07:55pm

Stocks

Wall Street advances after nonfarm payrolls data

Wall Street’s main stock indexes rose on Friday after stronger-than-expected March jobs data pointed to resilience...

Published 05 Apr, 2024 07:39pm

Energy

Global LNG: Asia spot LNG holds at 6-week top amid sustained demand

SINGAPORE: Asian spot liquefied natural gas (LNG) was unchanged this week, keeping at a six-week high over $9 per...

Published 05 Apr, 2024 07:34pm

Stocks

Financials lead Indian shares to third weekly gain ahead of earnings season

BENGALURU: Indian shares logged third straight weekly gains on Friday, led by financials, while the central bank...

Published 05 Apr, 2024 06:45pm

Stocks

Sri Lanka shares end higher as financials gain

CSE All-Share index settled 0.83% higher at 11,795.47

Published 05 Apr, 2024 06:43pm

USA

US, China resume talks on safe military interactions

WASHINGTON: The United States and China held talks this week on safety in interactions between their armed forces...

Published 05 Apr, 2024 06:38pm

Companies

Apple lays off more than 600 staff

WASHINGTON: Apple has laid off more than six hundred employees, according to data from a California state agency,...

Published 05 Apr, 2024 06:34pm

World

World food prices rise for first time in 7 months: FAO

PARIS: Global food prices rose in March, the first increase since July, pulled higher by cooking oil prices despite...

Published 05 Apr, 2024 06:32pm

Europe

Russia says recent strikes response to Ukrainian attacks on energy

MOSCOW: Russia said Friday that its recent strikes on Ukraine were a “response” to Ukrainian attacks on its energy...

Published 05 Apr, 2024 06:25pm

Companies

McDonald’s to buy Israel franchise from owner Alonyal

McDonald’s is buying its 30-year-old Israel franchise from Alonyal Ltd, taking back ownership of 225 restaurants in...

Published 05 Apr, 2024 06:24pm

Forex

Rupee settles unchanged against US dollar

Currency closes at 277.93 against the greenback in inter-bank market

Updated 05 Apr, 2024 06:14pm

Stocks

UAE bourses close lower as regional tensions rise

Stock exchanges in United Arab Emirates closed lower on Friday, as tensions in the region escalated and following...

Published 05 Apr, 2024 05:46pm

Commodities

Asia Gold: Record price rally takes toll on India demand; China premiums firm

Physical gold demand in India remained tepid this week as a blistering rally in domestic prices put off buyers,...

Published 05 Apr, 2024 05:43pm

Commodities

Copper rally pauses, downside risks start to build

LONDON: Copper prices fell in London on Friday, stepping away from a 14-month high hit in the previous session as...

Published 05 Apr, 2024 05:32pm

Commodities

Palm declines, but posts best week in three; inventory data awaited

JAKARTA: Malaysian palm oil futures closed lower on Friday but posted weekly gains, while market participants...

Published 05 Apr, 2024 05:28pm

Movies & Music

Colin Farrell embodies film noir detective in ‘Sugar’

LOS ANGELES: Film noir is back, with a lot of color, starring Colin Farrell in ‘Sugar,’ a new Apple+ series set in...

Published 05 Apr, 2024 05:04pm

Travel

Hotels see up to 100% occupancy amid demand surge prior to extended Eid break in Dubai

Dubai is experiencing up to 100% occupancy across hotels along with a surge in short term rentals prior to an...

Published 05 Apr, 2024 04:32pm

Pakistan

Governor for character-building of youth

LAHORE: Punjab Governor Muhammad Balighur Rehman has said that human greatness does not lie is wealth or money but...

Updated 05 Apr, 2024 03:37pm

Middle East

Iran vows to punish Israel at funeral for officers killed in embassy strike

Iran reiterated its pledge to punish Israel on Friday at a funeral for seven officers killed in a suspected Israeli...

Updated 05 Apr, 2024 03:36pm

Forex

Uganda shilling stable; to gain as banks cut dollar positions

KAMPALA: The Ugandan shilling was steady on Friday and was expected to gain ground, helped by commercial banks...

Published 05 Apr, 2024 02:38pm

Europe

Attacks against those involved in humanitarian aid may amount to war crimes: UN

GENEVA: The United Nations Human Rights Office said on Friday that attacks against people or objects involved in...

Published 05 Apr, 2024 02:37pm

Travel

What to eat in Montreal: Top Chef’s Gail Simmons

As a cookbook author and judge on Bravo’s hit television show ‘Top Chef’, Gail Simmons gets to sample cuisines from...

Published 05 Apr, 2024 02:07pm

Stocks

London stocks fall 1% as geopolitical tensions and economic data loom

British equities slid 1% on Friday amid heightened Middle East tensions, while investors braced for the release of...

Published 05 Apr, 2024 02:05pm

Forex

Russian rouble slightly weaker against the US dollar

MOSCOW: The Russian rouble weakened slightly against the US dollar on Friday. By 0720 GMT, the rouble was 0.14%...

Published 05 Apr, 2024 01:58pm

Forex

Kenya’s shilling gains as commercial banks cut dollar positions

NAIROBI: Kenya’s shilling strengthened to a near 13-month high on Friday, helped by commercial banks shedding their...

Published 05 Apr, 2024 01:56pm

Europe

US welcomes Israel opening more aid for Gaza; ‘proof is in the results’

LEUVEN: The United States welcomes Israel’s latest efforts to allow more humanitarian aid into Gaza, Secretary of...

Published 05 Apr, 2024 01:53pm

South Asia

India’s Congress pledges to step up affirmative action if voted back to power

NEW DELHI: India’s opposition Congress party promised on Friday to lift a cap on affirmative action for marginalised...

Published 05 Apr, 2024 01:50pm

Stocks

European stocks sink at open

LONDON: Europe’s main stock markets tumbled in opening deals on Friday as a global selloff gathered pace. London’s...

Published 05 Apr, 2024 01:44pm

Mutual Funds

Euro zone bonds hold steady before key US jobs report

LONDON: Euro zone bond yields were little changed on Friday as investors waited for US employment and wage data for...

Published 05 Apr, 2024 12:23pm

Sports

Stuart Broad backs struggling Buttler to discover form in IPL

NEW DELHI: Jos Buttler has cut a subdued figure in the Indian Premier League this season but his former team mate...

Published 05 Apr, 2024 12:21pm

Energy

Shell sees significantly lower Q1 LNG trading results

LONDON: Shell said on Friday it expects significantly lower results from its liquefied natural gas trading business...

Published 05 Apr, 2024 12:17pm

Sports

Muhammad Ali’s ‘Thrilla in Manila’ shorts up for auction

NEW YORK: The shorts worn by Muhammad Ali in his legendary “Thrilla in Manila” boxing match are up for grabs at...

Published 05 Apr, 2024 12:14pm

Stocks

Hong Kong stocks begin on front foot

HONG KONG: Hong Kong stocks opened slightly higher Friday morning as investors returned from a midweek break to play...

Published 05 Apr, 2024 12:10pm

Sports

Akshay Bhatia fires bogey-free 63 to seize lead at PGA Texas Open

WASHINGTON: Akshay Bhatia birdied five of the last seven holes to fire a nine-under par 63 and grab a three-stroke...

Published 05 Apr, 2024 12:08pm

Europe

Russia says 53 drones downed, Ukraine campaign HQ region targeted

MOSCOW: Russia said Friday it downed 53 Ukrainian drones, the majority of which targeted the southern Rostov region...

Published 05 Apr, 2024 12:03pm

Technology

Japan space startup Astroscale aims for June listing, sources say

TOKYO: Space junk removal startup Astroscale is targeting a Tokyo listing as early as June, sources said, taking the...

Published 05 Apr, 2024 11:31am

USA

CIA chief to travel to Egypt this weekend, Axios reports

WASHINGTON: US CIA Director Bill Burns is expected to travel to Cairo this weekend to meet with his Egyptian and...

Published 05 Apr, 2024 11:15am

Stocks

Australian shares retreat as miners and banks drag

Australian shares fell on Friday, dragged down by miners and financials, after comments from US Federal Reserve...

Published 05 Apr, 2024 11:11am

Sports

Ten Hag blames poor decisions for Man United’s shocking defeat to Chelsea

Manchester United coach Erik Ten Hag expressed frustration and blamed costly mistakes and poor decision-making for...

Published 05 Apr, 2024 11:09am

Stocks

South Korean shares track Wall Street lower, set for weekly loss

SEOUL: Round-up of South Korean financial markets: South Korean stocks gain on US Fed comments South Korean shares...

Published 05 Apr, 2024 11:03am

Sports

Danielle Collins wins twice in Charleston

Danielle Collins extended her winning streak to 10 matches, winning twice on Thursday to reach the quarterfinals of...

Published 05 Apr, 2024 10:56am

Mutual Funds

Japan’s 2 year bond yield hits 13-year high as BOJ chief hints chance of another rate hike

TOKYO: Japan’s two-year government bond yield hit its highest level in 13 years on Friday after the Bank of Japan’s...

Published 05 Apr, 2024 10:53am

Forex

Australia, NZ dollars slip but set for first weekly gain in a month

SYDNEY: The Australian and New Zealand dollars slipped on Friday but were still set for the first weekly gain in a...

Published 05 Apr, 2024 10:46am

Stocks

Asia stocks stumble on risk-off mood; oil prices climb

SINGAPORE: Asian shares retreated on Friday as hawkish comments from some Federal Reserve officials and escalating...

Published 05 Apr, 2024 10:42am

Commodities

Soybeans fall for second session on dismal demand for US cargoes

SINGAPORE: Chicago soybean futures ticked down on Friday, under pressure after a weekly US report showed lower...

Published 05 Apr, 2024 10:38am

Commodities

Palm opens lower on soft soyoil prices, but set for weekly gain

JAKARTA: Malaysian palm oil futures slipped on Friday following a fall in soyoil prices after lower-than-expected...

Published 05 Apr, 2024 10:35am

Stocks

Japan’s Nikkei set for worst week since Dec 2022 as tech tumbles

TOKYO: Japan’s Nikkei share average tumbled more than 2% to a three-week low on Friday, putting it on course for its...

Published 05 Apr, 2024 10:33am

Business & Finance

Samsung flags 10-fold rise in first-quarter profit as chip prices recover

SEOUL: Samsung Electronics estimated on Friday its first-quarter operating profit would rise more than 10-fold,...

Published 05 Apr, 2024 10:30am

Business & Finance

Bank of Japan hints at near-term rate hike, pushing yields higher

TOKYO: Bank of Japan Governor Kazuo Ueda said inflation would likely accelerate from “summer toward autumn” as...

Published 05 Apr, 2024 10:27am

Asia

South Korea’s Yoon joins early voting ahead of parliamentary elections

SEOUL: South Korean President Yoon Suk Yeol cast his ballot as two days of early voting for next week’s...

Published 05 Apr, 2024 10:18am

Energy

Indonesia’s Q1 crude oil lifting at 563,000 bpd, energy minister says

JAKARTA: Indonesia’s crude oil lifting was at 563,000 barrels of oil per day (bpd) in the January-March quarter,...

Published 05 Apr, 2024 10:16am

Business & Finance

Thai March headline CPI misses central bank target for 11th month

BANGKOK: Thailand’s headline consumer price index dropped for the sixth straight month in March, the commerce...

Published 05 Apr, 2024 10:15am

Sports

Max Verstappen quickest in first Suzuka practice, more woes for Williams

SUZUKA: World champion Max Verstappen topped the timesheets for Red Bull in the first free practice session for the...

Published 05 Apr, 2024 10:14am

Stocks

Indian shares drop, weighed down by IT stocks; RBI policy in focus

BENGALURU: Indian shares fell on Friday, dragged by information technology stocks on rising worries over the US...

Published 05 Apr, 2024 10:12am

Business & Finance

India central bank guidance on inflation, liquidity major trigger for bonds

MUMBAI: Indian government bond market participants await the central bank’s guidance on liquidity as well as...

Published 05 Apr, 2024 10:11am

Europe

Russian forces enter suburb of Chasiv Yar in Ukraine, says RIA

Russian forces have entered a suburb of the city of Chasiv Yar in Ukraine’s Donetsk region, the RIA news agency...

Published 05 Apr, 2024 10:09am

Forex

Indian rupee avoids record low despite slew of negative cues

MUMBAI: The Indian rupee was little changed on Friday amid expectations that the country’s central bank will...

Published 05 Apr, 2024 10:07am

Forex

Asian FX downbeat as hawkish Fed comments trigger risk-off sentiment

Most Asian currencies declined on Friday, despite a fall in the dollar and US bond yields, after hawkish comments by...

Published 05 Apr, 2024 10:04am

Business & Finance

India’s rate panel holds key repo rate steady, as expected

MUMBAI: India’s monetary policy committee held the key repo rate unchanged for a seventh straight policy meeting on...

Published 05 Apr, 2024 10:03am

Bullion Rate

Gold pauses record rally ahead of US jobs data

Gold’s five-session record surge, which set the metal on track for its third straight weekly rise, came to a halt on...

Published 05 Apr, 2024 10:02am

Asia

Janet Yellen launches contentious meetings on Chinese excess production threat

GUANGZHOU: US Treasury Secretary Janet Yellen on Friday launched four days of talks with senior Chinese officials...

Published 05 Apr, 2024 10:00am

Business & Finance

SAB fails to take decision on sugar export

ISLAMABAD: The Sugar Advisory Board (SAB) meeting, on Thursday, failed to decide on the export of refined sugar and...

Updated 05 Apr, 2024 09:58am

Excellence Award: FBR announces privileges, concessions for top taxpayers

ISLAMABAD: The Federal Board of Revenue (FBR) has announced privileges/concessions for the top taxpayers, who...

Updated 05 Apr, 2024 09:57am

SOEs: PM for speeding up sell-off process

ISLAMABAD: Prime Minister Shehbaz Sharif has directed to speed up the process of reforms and privatisation of...

Updated 05 Apr, 2024 09:57am

Country does need new IMF programme: PM

Highlights importance of a new International Monetary Fund programme for the revival of the economy

Updated 05 Apr, 2024 09:57am

Forex

Dollar steady ahead of jobs data; yen hits two-week high

TOKYO: The US dollar held steady against peer currencies on Friday after rebounding from a two-week low, as traders...

Published 05 Apr, 2024 09:45am

BR Research

Oil prices: Bears out!

It is not quite the panic of 2022, yet, but the international oil market has continued to heat up. Now nearing a...

Published 05 Apr, 2024 09:41am

BR Research

Startups in misery?

Pakistan’s startup landscape largely led by tech startups in terms of both funding and growth has made significant...

Published 05 Apr, 2024 09:39am

BR Research

Pioneer Cement Limited

Pioneer Cement Limited (PSX: PIOC) was set up as a public limited company in 1986. With its plants located in...

Published 05 Apr, 2024 09:36am

FBR approaches AGP for early fixation of cases

ISLAMABAD: The Federal Board of Revenue (FBR) has approached Attorney General for Pakistan for early fixation of...

Updated 05 Apr, 2024 09:25am

IWS tender: PMO seeks details on Chinese co’s complaint

ISLAMABAD: The Prime Minister’s Office (PMO) has sought the details of the tender for the design, supply,...

Updated 05 Apr, 2024 09:25am

Excessive loadshedding: Nepra slaps Rs50m penalty on KE, 4 other Discos

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has imposed a penalty of Rs50 million each on...

Updated 05 Apr, 2024 09:05am

PIACL divestment: Prequalification criteria, committee approved

ISLAMABAD: The Privatisation Commission Board in the two sessions held on 2nd and 4th April 2024 gave approval of...

Updated 05 Apr, 2024 09:04am

Notice issued to POL, others: Respondents shall continue to pay tax liability under Sec 4C: IHC

ISLAMABAD: The Islamabad High Court (IHC), issuing notice to the respondents (Pakistan Oilfields Limited and...

Updated 05 Apr, 2024 09:04am

Pakistan, Russia, CARs: meeting on UAP rail plan likely on April 23-24

ISLAMABAD: A high-level meeting of Pakistan, Russia, and Central Asian Republics (CARs) is likely to be held on...

Updated 05 Apr, 2024 09:03am

NPGCL inks $200m FDI MoU with Chinese firm NGLE

ISLAMABAD: In a significant stride towards sustainable energy production, Northern Power Generation Company Limited...

Updated 05 Apr, 2024 09:03am

BR’s refresher: your morning briefing for the day

Important updates from April 4, 2024

Published 05 Apr, 2024 09:02am

Opinion

Privatisation—dos and don’ts

For the last few months, privatization has been a key component of economic news. The previous government, interim...