News Archives for Latest - 2024-05-03

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Archive - 2024-05-03

Luxury

Spain’s fashion and beauty group Puig poised for IPO

MADRID: The iconic Nina Ricci, Paco Rabanne and Jean-Paul Gaultier labels make their market debut Friday as Spanish...

Published 03 May, 2024 11:43pm

USA

Joe Biden says ‘order must prevail’ on US campuses amid protests

WASHINGTON: US President Joe Biden insisted Thursday that “order must prevail” on college campuses after weeks of...

Updated 03 May, 2024 10:49pm

Energy

Sales of petroleum products fall by 6% in April

Sale of total petroleum products in Pakistan clocked in at 1.1 million tons in April, a decline of 6% year-on-year...

Updated 03 May, 2024 10:49pm

Commodities

Gold sheds further Rs1,400 per tola in Pakistan

Gold prices extended their downturn in Pakistan for the fifth consecutive session on Friday, shedding another...

Updated 03 May, 2024 10:49pm

Pakistan

Pakistan’s iCube Qamar payload launches aboard Chinese lunar mission

Pakistan’s first satellite mission to the moon, iCube Qamar, was launched on board China’s Chang’E6 from Hainan,...

Updated 03 May, 2024 10:48pm

Pakistan

At least 20 killed, 21 injured after bus falls into ravine in KPK’s Chilas

At least 20 people died and 21 others were injured on Friday when a passenger bus overturned on the Karakoram...

Updated 03 May, 2024 10:48pm

Pakistan

Engagements through trade, investment are priorities of Pak-US relations: State Dept

The United States has said that technical engagements through trade and investment ties are priorities of Pak-US...

Updated 03 May, 2024 10:47pm

Stocks

Buying spree returns as KSE-100 closes near 72,000 with 1,244-point gain

Benchmark index gains 1.76% amid developments on privatisation front

Updated 03 May, 2024 10:46pm

Middle East

Turkiye halts trade with Israel until permanent Gaza ceasefire

Says will not resume trade worth $7bn a year with Tel Aviv as situation worsens in Rafah

Updated 03 May, 2024 10:46pm

World

Food situation ‘slightly’ better in Gaza: WHO

GENEVA: The availability of food in the Gaza Strip has very slightly improved, though the risk of famine in the...

Published 03 May, 2024 10:25pm

Forex

Rupee improves marginally against US dollar

Currency settles at 278.21 against US dollar in inter-bank market

Updated 03 May, 2024 09:23pm

Stocks

Wall St gains after soft jobs data allays rate jitters

Wall Street’s main indexes advanced on Friday after a softer-than-expected jobs report revived hopes of the Federal...

Published 03 May, 2024 07:48pm

Middle East

Yemen’s Houthis say they will target ships heading for Israel anywhere within range

DUBAI: Yemen’s Houthis will target ships heading to Israeli ports in any area that is within their range, military...

Published 03 May, 2024 07:32pm

Pakistan

IHC rejects IB’s plea to withdraw petition seeking Justice Sattar’s recusal

Assistant attorney general informs court that Intelligence Bureau wants to withdraw its petition raising an objection over Justice Sattar in the bench

Updated 03 May, 2024 07:30pm

Energy

Global LNG: Asia spot LNG price rises on hotter summer forecast, supply concerns

LONDON: Asian spot liquefied natural gas (LNG) prices rose this week on forecasts for higher cooling demand this...

Published 03 May, 2024 07:27pm

Stocks

Financials, consumer staples lift Sri Lankan shares

CSE All Share index settled up 0.41% at 12,404.33

Published 03 May, 2024 07:23pm

Europe

Russia says it is ready for ‘serious’ Ukraine peace proposals

MOSCOW: Russia is ready to consider “serious” proposals to settle the Ukraine conflict based on existing “realities”...

Published 03 May, 2024 07:05pm

Money & Banking

ADB agrees $5 billion funds replenishment with donors

TBILISI: The Asian Development Bank (ADB) said on Friday it had agreed a $5 billion replenishment with donors for...

Published 03 May, 2024 07:02pm

Middle East

Health ministry in Gaza says war death toll at 34,622

GAZA CITY: The health ministry in Gaza said on Friday that at least 34,622 people have been killed in the...

Published 03 May, 2024 06:54pm

Companies

Sony and Apollo propose $26bn Paramount offer, WSJ reports

Sony Pictures Entertainment (SPE) and private equity firm Apollo Global Management have made a $26 billion cash...

Published 03 May, 2024 06:35pm

Money & Banking

India’s foreign exchange reserves drop to seven-week low

MUMBAI: India’s foreign exchange reserves fell for a third consecutive week and stood at a seven-week low of $637.92...

Published 03 May, 2024 05:43pm

Energy

Oil prices set for steepest weekly drop in 3 months

LONDON: Oil prices edged higher on Friday yet remained on course for their steepest weekly loss in three months...

Updated 03 May, 2024 05:37pm

Stocks

UAE markets track oil prices higher

Stock markets in the United Arab Emirates rose on Friday, tracking gains in oil prices on the prospect that OPEC+...

Published 03 May, 2024 05:35pm

Europe

Russia says UK foreign minister’s remarks show West is waging hybrid war with Moscow

MOSCOW: Russian foreign ministry spokeswoman Maria Zakharova said on Friday remarks by British Foreign Secretary...

Published 03 May, 2024 05:31pm

Cricket

Bangladesh win toss, bowl in first Zimbabwe T20

CHITTAGONG: Bangladesh captain Najmul Hossain Shanto won the toss and elected to bowl first Friday in the first of...

Published 03 May, 2024 05:16pm

Sports

Alcaraz out of Italian Open with continuing forearm pain

MADRID: World number three Carlos Alcaraz on Friday withdrew from next week’s ATP Italian Open due to ongoing pain...

Published 03 May, 2024 05:10pm

Luxury

Luxury brands lure Chinese shoppers despite slowdown

SHANGHAI: Sipping champagne and nibbling fried dumplings, Shanghai’s rich and influential posed by Louis Vuitton...

Published 03 May, 2024 05:00pm

Stocks

Indian shares fall on profit taking after Nifty 50 scales record high

BENGALURU: Indian shares dropped on Friday, as profit booking emerged after the Nifty 50 scaled a record high,...

Published 03 May, 2024 04:59pm

Commodities

Copper bounces on weak dollar but heads for weekly decline

LONDON: Copper prices bounced on Friday, supported by a softer dollar and revisions to forecasts showing diminished...

Published 03 May, 2024 04:56pm

Commodities

Palm oil almost flat but logs fourth consecutive weekly loss

KUALA LUMPUR: Malaysian palm oil futures were little change on Friday but logged a fourth consecutive week of...

Published 03 May, 2024 04:39pm

Arts

European court upholds Italy’s claim to Greek bronze in US museum

STRASBOURG, France: Italy is allowed to confiscate an ancient Greek bronze fished from the Adriatic in the 1960s and...

Published 03 May, 2024 04:28pm

Movies & Music

Sanjay Leela Bhansali says he considered Mahira Khan and Fawad Khan for ‘Heeramandi’

Filmmaker initially wanted to cast the duo in a film version of the epic story

Updated 03 May, 2024 04:04pm

Africa

Kenya floods death toll tops 200 as cyclone approaches

NAIROBI: The death toll from flood-related incidents in Kenya has crossed 200 since March, the interior ministry...

Published 03 May, 2024 03:42pm

Mutual Funds

Euro zone yields headed for weekly fall after Powell comments, await US data

Euro zone yields dropped on Friday ahead of US jobs data and were headed for a weekly fall after Federal Reserve...

Published 03 May, 2024 03:35pm

Sports

South Africa confirm Sri Lanka, Pakistan to visit in 2024-25

CAPE TOWN: South Africa will host Sri Lanka for two Tests and Pakistan for an all-formats tour in the 2024-25 home...

Published 03 May, 2024 03:11pm

Europe

Rafah operation could be a ‘slaughter’, UN official says

GENEVA: An Israeli incursion in Rafah would put the lives of hundreds of thousands of Gazans at risk and be an...

Published 03 May, 2024 03:01pm

Europe

Kremlin calls Cameron’s statement on UK arms for Ukraine a ‘direct escalation’

MOSCOW: The Kremlin called British Foreign Secretary David Cameron’s statement that Ukraine could use British...

Published 03 May, 2024 02:58pm

Sports

Daniil Medvedev joins growing injury list ahead of French Open

MADRID: World number four Daniil Medvedev faces an anxious wait to know the full extent of an injury that forced him...

Published 03 May, 2024 02:01pm

Sports

Maradona’s children call for moving body to mausoleum for safety and tribute

BUENOS AIRES: Diego Maradona’s children filed a request with the Argentine Courts on Thursday to move the former...

Published 03 May, 2024 01:58pm

Life & Style

Adidas plots to swerve Samba slump

LONDON: As Adidas aims to build on hot demand for its three-striped white and black Samba and multi-coloured Gazelle...

Published 03 May, 2024 01:46pm

Business & Finance

ECB’s Stournaras sees just three rate cuts in 2024 on strong growth

FRANKFURT: The European Central Bank is “most likely” to cut interest rates just three times this year as...

Published 03 May, 2024 01:43pm

Commodities

French soft wheat rated 63% good/excellent by April 29

PARIS: Ratings of French soft wheat showed 63% of the crop in good or excellent condition by April 29, unchanged...

Published 03 May, 2024 01:41pm

Commodities

Copper heads for first weekly fall in 5 weeks

Copper prices gained on a softer dollar on Friday, but were set for the first decline in five weeks on risk-off...

Published 03 May, 2024 01:40pm

Stocks

European shares climb on bank earnings cheer, tech boost

European shares opened higher on Friday, as investors cheered a handful of strong earnings from French banks...

Published 03 May, 2024 01:38pm

Forex

Asian currencies, stocks strengthen as Fed hints dovish stance

Asian emerging market currencies and equities climbed higher on Friday after the Federal Reserve indicated it would...

Published 03 May, 2024 01:37pm

Stocks

Anglo American boosts London’s FTSE 100 to near record high

Britain’s FTSE 100 opened near record highs on Friday, boosted by Anglo-American after Reuters reported Glencore is...

Published 03 May, 2024 01:35pm

Business & Finance

Turkiye inflation up near 70%, highest since 2022

ISTANBUL: Turkiye annual consumer price inflation climbed to 69.8% in April, official data showed on Friday, a bit...

Published 03 May, 2024 01:33pm

Middle East

Hamas considering latest Gaza truce offer in ‘positive spirit’

GAZA STRIP: Hamas says it is considering in a “positive spirit” a Gaza truce deal, while the UN warned rebuilding...

Published 03 May, 2024 12:32pm

World

China to launch first probe to return samples from Moon’s far side

WENCHANG: China is set Friday to launch a probe to collect samples from the far side of the Moon, a world first as...

Published 03 May, 2024 12:21pm

World

Rains, mudslides kill 29 in southern Brazil’s ‘worst disaster’

CAPELA DE SANTANA: Brazilian President Luiz Inacio Lula da Silva on Thursday visited the country’s south where...

Published 03 May, 2024 12:10pm

Sports

England’s Wallace fires 63 to grab CJ Cup Byron Nelson lead

LOS ANGELES: England’s Matt Wallace birdied five of the first six holes on his way to grabbing the lead in...

Published 03 May, 2024 12:08pm

Stocks

Hong Kong stocks rally at open

HONG KONG: Hong Kong shares rallied at the open of trade Friday, building on an eight-day surge, following a strong...

Published 03 May, 2024 12:03pm

Forex

Australia, NZ dollars bow to yen strength, gain ground on dollar

SYDNEY: The Australian and New Zealand dollars are headed for heavy weekly losses on the yen but gained ground on...

Published 03 May, 2024 11:24am

Commodities

Gold set for second weekly fall; US payrolls on investors’ radar

Gold prices were poised for a second straight weekly decline, although bullion held steady on Friday as investors...

Published 03 May, 2024 11:19am

Sports

Iga Swiatek, Aryna Sabalenka set up 1-2 final at Madrid

The top two players in the world are booked for the final of the Mutua Madrid Open. After World No. 1 Iga Swiatek of...

Published 03 May, 2024 11:16am

Commodities

Palm oil opens lower, set for fourth consecutive weekly loss

KUALA LUMPUR: Malaysian palm oil futures opened lower on Friday, tracking weakness in Chicago soyoil, and set for a...

Published 03 May, 2024 11:10am

South Asia

India’s opposition Congress leader Rahul Gandhi to contest elections from Raebareli too

NEW DELHI: India’s main opposition Congress party said on Friday that Rahul Gandhi, the face of the party and its...

Published 03 May, 2024 11:06am

Europe

Russia expects to stop imports of lithium, other scarce metals by 2030, TASS reports

Russia expects to eliminate its dependence on imports of 12 scarce types of metals including lithium and rare earths...

Published 03 May, 2024 10:59am

Business & Finance

Thai April inflation rises slightly, first time in 7 months

BANGKOK: Thailand’s headline consumer price index (CPI) rose 0.19% in April from a year earlier, versus a 0.47%...

Published 03 May, 2024 10:55am

South Asia

High security in India’s Manipur on anniversary of ethnic clashes

GUWAHATI: Security forces were on heightened alert in India’s troubled northeastern state of Manipur on Friday, the...

Published 03 May, 2024 10:51am

Sports

T20 bowlers must adapt or get left behind, New Zealand’s Southee says

MELBOURNE: The mountain of runs being scored in the Indian Premier League (IPL) shows Twenty20 cricket is changing...

Published 03 May, 2024 10:44am

USA

US Defence Secretary says there was no indication Hamas planning attack on US troops

HONOLULU: US Defence Secretary Lloyd Austin said on Thursday he did not see any indication Hamas was planning any...

Published 03 May, 2024 10:38am

Stocks

Asian stocks surge; yen extends gains to cap wild week

SINGAPORE: Asian stocks surged to their highest in 15 months on Friday led by tech and Hong Kong stocks, while the...

Published 03 May, 2024 10:34am

Commodities

Soybeans, corn head for weekly gains as floods hit Brazil

CANBERRA: Chicago soybean and corn futures rose on Friday and were set for their second consecutive weekly gains as...

Published 03 May, 2024 10:29am

Energy

UAE’s April non-oil business activity slows sharply on flood impact, PMI shows

DUBAI: Growth in the United Arab Emirates’ non-oil business sector eased to its lowest level in eight months in...

Published 03 May, 2024 10:26am

Europe

UK’s Labour claim big early win over PM Sunak’s Conservatives

LONDON: Britain’s opposition Labour Party won a parliamentary seat in northern England on Friday, beating the...

Published 03 May, 2024 10:23am

Stocks

Mining and tech stocks lift Australia shares; RBA meeting on tap

Australian shares jumped on Friday led by mining and technology stocks, while investors awaited the domestic central...

Published 03 May, 2024 10:11am

Stocks

Indian shares likely to open higher; Bajaj Finance in focus

BENGALURU: Indian shares are set to open higher on Friday, tracking a rise in global stocks after the US Federal...

Published 03 May, 2024 10:09am

Forex

Yen poised for best week in over a year; dollar waits on US jobs data

SINGAPORE: The yen was headed for its best week in more than a year on Friday, helped by Tokyo’s suspected...

Published 03 May, 2024 10:04am

Mutual Funds

Indian bond yields flattish; debt sale, US jobs data in spotlight

MUMBAI: Indian government bond yields were little changed in the early session on Friday, as market participants...

Published 03 May, 2024 09:59am

Europe

Russia says it downs six Ukraine-launched drones

The Russian defence ministry said on Friday that its air defence forces destroyed six drones that Ukraine launched...

Published 03 May, 2024 09:57am

BR Research

Inflation: is the worst over?

The headline is that the headline inflation is finally below 20 percent. It stood at 17.3 percent for April 24 – the...

Updated 03 May, 2024 09:55am

Excessive wheat import: Caretakers likely to find themselves in the dock

Federal Minister for National Food Security and Research Rana Tanveer says caretaker government during its tenure imported wheat that caused the problem

Updated 03 May, 2024 09:38am

IPP payments, Gwadar power plant: MoFA asks PD to address Chinese concerns

ISLAMABAD: The Ministry of Foreign Affairs (MoFA) has asked Power Division to develop concrete measures to address...

Updated 03 May, 2024 09:33am

9MFY24 collection: Provinces given 53pc of total revenue under NFC Award

ISLAMABAD: The provinces were transferred 53 percent of the total tax revenue collected during the first nine months...

Updated 03 May, 2024 09:31am

Business & Economy

Arif Habib, Gerry’s Group among 10 bidders as Pakistan pushes back deadline for EoI to buy PIA

ISLAMABAD: Islamabad will push back the deadline for companies to express interest in buying national carrier...

Updated 03 May, 2024 09:30am

Economies in developing Asia ageing fast: Pakistan will still have shares below 10pc by 2050: ADB

ISLAMABAD: Some economies in developing Asia are ageing rapidly, however, Pakistan will still have shares lower than...

Updated 03 May, 2024 09:30am

PM asks Aurangzeb to revise borrowing limit for provinces

ISLAMABAD: Prime Minister Shehbaz Sharif has directed Finance Minister Muhammad Aurangzeb to revise borrowing limit...

Updated 03 May, 2024 09:26am

PM forms body to probe wheat import matter

ISLAMABAD: Prime Minister Shehbaz Sharif has formed an inquiry committee regarding import of wheat under the...

Updated 03 May, 2024 09:24am

PPIB urges S Arabia to finalise G2G framework pact

ISLAMABAD: The Private Power & Infrastructure Board (PPIB) has asked Saudi Arabia to expedite finalization of...

Updated 03 May, 2024 09:22am

Poor implementation of track-and-trace system: PM orders Bosal to identify erring officials

ISLAMABAD: The government held several meetings on the Federal Board of Revenue (FBR) Thursday including a meeting...

Updated 03 May, 2024 09:20am

Active privatisation list: Six additional public sector entities added

ISLAMABAD: The federal government, on Thursday, added six additional public sector entities in active privatisation...

Updated 03 May, 2024 09:20am

Pakistan

FO responds to speculation: Govt has no plan to offer air bases to foreign govt

ISLAMABAD: The Foreign Office on Thursday rubbished “speculations” of Pakistan giving “two airbases” to the United...

Updated 03 May, 2024 09:19am

BR Research

MARI – earnings slip in 3Q

Mari Petroleum Company Limited (PSX: MARI) announced its financial performance recently, posting a decline in the...

Published 03 May, 2024 09:07am

BR Research

Highnoon Laboratories Limited

Highnoon Laboratories Limited (PSX: HINOON) was incorporated in Pakistan as a private limited company in 1984 and...

Updated 03 May, 2024 09:00am

BR’s refresher: your morning briefing for the day

Important updates from May 2, 2024

Published 03 May, 2024 08:35am

PIA sell-off: EoIs submission deadline extended

ISLAMABAD: Federal Minister for Privatisation, Abdul Aleem Khan has announced that the government extended the...

Updated 03 May, 2024 07:19am

Opinion

PARTLY FACETIOUS: Ishaq Dar’s affidavit was the longest

“I reckon Nawaz Sharif was stopped because he was going to surpass Julius Caesar.” “Are you out of your mind! Caesar...