News Archives for Latest - 2024-05-06

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Archive - 2024-05-06

Travel

Low-budget Chinese travellers highlight shift in Hong Kong tourism

HONG KONG: Cost-conscious Chinese tourists have replaced many of the cash-rich mainland travellers who once flocked...

Published 06 May, 2024 11:28pm

World

Hamas chief says group accepts Gaza truce proposal

Ball now in court of Israeli occupation, says another senior official

Published 06 May, 2024 10:40pm

Middle East

Gaza officials say Israel army strikes two Rafah areas it ordered ‘evacuated’

RAFAH/CAIRO: Gaza civil defence and aid officials said on Monday that Israeli jets struck two areas in eastern Rafah...

Updated 06 May, 2024 10:46pm

Companies

Board approves Engro Corp, Dawood Hercules Corp restructuring plan

Under proposed restructuring, Engro Corp will become a wholly-owned subsidiary of DH Corp

Updated 06 May, 2024 10:17pm

Business & Economy

Iran, Pakistan seek ways to complete gas pipeline project: Iranian official

We see political determination from Pakistan to complete the project, says Iran's Consul General to Pakistan

Updated 06 May, 2024 10:16pm

Pakistan

Saudi Manara Minerals’ team in Pakistan for talks on Reko Diq mine stake, document shows

ISLAMABAD: Executives from Saudi Arabian mining company Manara Minerals are in Islamabad to continue talks about...

Updated 06 May, 2024 10:13pm

Business & Economy

Pakistan ‘a high-priority’ destination for Saudi Arabia: Al-Mubarak

Ibrahim Al-Mubarak, Assistant Minister of Investment in the Kingdom of Saudi Arabia (KSA), said that the kingdom’s...

Updated 06 May, 2024 10:10pm

Sports

PCB unveils ‘Matrix’ jersey for T20 World Cup 2024

The Pakistan Cricket Board (PCB) on Monday unveiled the national cricket team’s official jersey for the upcoming T20...

Published 06 May, 2024 10:07pm

South Asia

India election chiefs warn political parties against AI deepfakes

NEW DELHI: India’s election authorities on Monday warned political parties against using artificial intelligence to...

Published 06 May, 2024 09:52pm

Markets

Aurangzeb hopes PIA privatisation is finalised by July

Finance minister says IMF mission expected to arrive in Pakistan in the next seven to ten days

Updated 06 May, 2024 09:49pm

Forex

Rupee largely stable against US dollar

Currency settles at 278.24 against the greenback in inter-bank market

Updated 06 May, 2024 09:36pm

Stocks

KSE-100 gains over 1% as bullish trend continues

The Pakistan Stock Exchange (PSX) maintained its bullish trend as the benchmark KSE-100 Index gained over 1% during...

Updated 06 May, 2024 09:34pm

Commodities

Gold price per tola jumps Rs2,500 in Pakistan

After falling for six straight sessions, gold prices rebounded in Pakistan on Monday in line with their increase in...

Updated 06 May, 2024 09:18pm

Pakistan

SC suspends PHC’s verdict against allocating reserved seats to Sunni Ittehad Council

The Supreme Court (SC) suspended on Monday the Peshawar High Court’s (PHC) order against allocating reserved seats...

Updated 06 May, 2024 08:56pm

Stocks

US stocks extend gains as bond yields retreat

NEW YORK: Wall Street stocks climbed early Monday, extending a rally from late last week amid greater optimism about...

Published 06 May, 2024 07:30pm

Money & Banking

ECB grows more confident about cutting rates, policymakers say

VILNIUS/FRANKFURT: The European Central Bank is growing more confident about cutting interest rates as euro zone...

Published 06 May, 2024 07:26pm

Stocks

Most Gulf markets muted as Mideast tension rises

Most stock markets in the Gulf were subdued on Monday amid rising fears the Israel-Hamas conflict could still widen...

Published 06 May, 2024 07:22pm

Middle East

Biden, Netahyahu to speak on Rafah: White House

WASHINGTON: US President Joe Biden will speak to Israeli Prime Minister Benjamin Netanyahu Monday after Israel’s...

Published 06 May, 2024 07:02pm

Sports

Japan’s Inoue stops Nery to defend super-bantamweight titles

TOKYO: Japan’s undisputed super-bantamweight world champion Naoya Inoue survived an early scare to stop Mexico’s...

Published 06 May, 2024 06:38pm

Sports

PSG coach Luis Enrique urges ‘calm’ in Dortmund Champions League decider

PARIS: Paris Saint-Germain coach Luis Enrique sought to take the pressure off his side going into Tuesday’s...

Published 06 May, 2024 06:33pm

Arts

‘Beygumbano’ talks colonialism and capitalism at World Art Dubai 2024

Sparking “great curiosity” among art aficionados at World Art Dubai 2024, Pakistani artist Eemaan Bano Rahman lauded...

Updated 06 May, 2024 06:06pm

Luxury

Wynn Al Marjan releases new details of gaming resort in Ras Al Khaimah

The $3.9-billion resort is set to open in 2027, become MENA's first casino

Updated 06 May, 2024 06:05pm

Perspectives

Dubai’s booming gastronomy scene: there is a lesson here

Organised by Dubai’s Festivals and Retail Establishment, the 11th edition of Dubai Food Festival (DFF) is set to...

Published 06 May, 2024 05:48pm

Stocks

Industrial, consumer discretionary stocks drag Sri Lankan shares

BENGALURU: Sri Lankan shares closed lower on Monday, as a drop in industrial and consumer discretionary stocks...

Published 06 May, 2024 05:48pm

Sports

Takei beats Moloney in Tokyo to win bantamweight world title

TOKYO: Japan’s Yoshiki Takei beat Australian defending champion Jason Moloney by unanimous decision on Monday to win...

Published 06 May, 2024 05:44pm

Middle East

Israel’s Rafah evacuation order ‘unacceptable’: EU’s Borrell

BRUSSELS: EU foreign affairs chief Josep Borrell on Monday condemned Israel’s order for Palestinians living in...

Published 06 May, 2024 05:41pm

Sports

Nadal to make Rome return against qualifier

ROME: Rafael Nadal was drawn on Monday with a qualifier in the first round of the Italian Open as the 22-time Grand...

Published 06 May, 2024 05:38pm

Middle East

IAEA chief in Iran as concern grows over nuclear activity

TEHRAN: UN atomic watchdog chief Rafael Grossi arrived in Iran Monday, where he is expected to speak at a conference...

Published 06 May, 2024 05:36pm

Europe

Russia says captured two frontline villages in Ukraine

MOSCOW: Russia said on Monday its forces had captured two more frontline villages in Ukraine, including in the...

Published 06 May, 2024 05:31pm

Pakistan

Faizabad dharna: CJP Isa dissatisfied with commission’s report

The Supreme Court (SC) expressed on Monday its dissatisfaction with the report submitted by an inquiry commission...

Updated 06 May, 2024 05:29pm

Europe

EU ready for ‘tough decisions to protect economy’, von der Leyen tells China

PARIS: European Commission President Ursula von der Leyen said on Monday that the EU would not shrink back from...

Published 06 May, 2024 05:28pm

Cricket

ICC say 'robust security plan' for T20 World Cup amid threat reports

NEW DELHI: A robust security plan has been put in place for the T20 World Cup in June, the organisers of the...

Published 06 May, 2024 05:19pm

South Asia

India BJP’s election videos targeting Muslims, opposition spark outrage

NEW DELHI: Animated videos shared by Prime Minister Narendra Modi’s party targeting opposition Congress and the...

Published 06 May, 2024 05:09pm

Travel

Backstage artisans keep Moulin Rouge kicking

PARIS: Even with the famous sails of its windmill gone, the Moulin Rouge never lets up: twice a night, 365 nights a...

Published 06 May, 2024 05:08pm

Stocks

State-run banks weigh on India’s blue-chip Nifty 50 index

BENGALURU: India’s blue-chip Nifty 50 closed lower on Monday, weighed down by a slide in state-run banks on fears...

Published 06 May, 2024 04:53pm

Energy

Oil climbs as Gaza tensions rise, Saudi Arabia hikes prices

LONDON: Oil futures climbed on Monday after Saudi Arabia hiked June crude prices for most regions and as the...

Updated 06 May, 2024 04:50pm

Commodities

Palm oil rises tracking soyoil, but export concerns linger

SINGAPORE: Malaysian palm oil futures closed higher on Monday, tracking gains in rival soyoil prices, although...

Published 06 May, 2024 04:47pm

Sports

Stefanos Tsitsipas era ends as Badosa announces split with Tsitsipas

Former world number two Paula Badosa is no longer in a romantic relationship with fellow tennis player Stefanos...

Published 06 May, 2024 04:13pm

Stocks

Major Gulf bourses mixed in early trade

Major stock markets in the Gulf were mixed in early trade on Monday, amid higher oil prices and rising hopes for an...

Published 06 May, 2024 02:45pm

USA

Joe Biden meets Jordan’s King Abdullah as Gaza ceasefire hopes dim

WASHINGTON: President Joe Biden will meet Middle East ally, Jordan’s King Abdullah II, at the White House on Monday...

Published 06 May, 2024 02:42pm

Europe

France’s Macron shakes hands with China’s Xi at Elysee Palace

PARIS: French President Emmanuel Macron welcomed China’s President Xi Jinping during a rare visit at the Elysee...

Published 06 May, 2024 02:38pm

Markets

Climate change: Pakistan urges ADB to deploy additional resources for vulnerable countries

Federal Minister for Economic Affairs Ahad Khan Cheema urged the Asian Development Bank (ADB) to deploy additional...

Published 06 May, 2024 02:07pm

Europe

Russia to practise tactical nuclear weapon scenario to deter West

MOSCOW: Russia on Monday said it would hold a military exercise that will include practice for the use of tactical...

Updated 06 May, 2024 02:05pm

Middle East

Israel begins evacuating part of Rafah ahead of threatened assault

RAFAH: Israel called on civilians to evacuate parts of Rafah on Monday in what appeared to be preparation for a...

Updated 06 May, 2024 01:28pm

Forex

Russian rouble flat against the US dollar

The Russian rouble was stable against the US dollar on Monday. By 0715 GMT, the rouble was flat at 91.60 to the...

Published 06 May, 2024 01:18pm

Technology

Volvo Cars April sales rise on strong EV demand

COPENHAGEN: Volvo Cars’ sales rose 27% in April from a year earlier to 65,838 cars, boosted by demand for electric...

Published 06 May, 2024 01:16pm

Forex

South African rand gains on stronger PMI data

JOHANNESBURG: The South African rand was stronger in early trade on Monday, after private sector activity rose...

Published 06 May, 2024 01:14pm

Commodities

Ukraine sees higher 2024 sugar output, looks for new markets, union says

KYIV: Ukraine may increase white sugar production nearly 3% to 1.85 million metric tons in 2024 and the exportable...

Published 06 May, 2024 01:12pm

Stocks

European stock markets open higher

PARIS: European stock markets opened higher on Monday as a US jobs report revived hopes of interest rate cuts this...

Published 06 May, 2024 12:54pm

Sports

Noah Lyles, Thomas star as USA dominate World Relays

NASSAU: Noah Lyles anchored the US 4x100m men to World Athletics Relays glory and Gabby Thomas bagged a quickfire...

Published 06 May, 2024 12:11pm

Sports

Indian protest wrestler Punia suspended for avoiding dope test

NEW DELHI: Indian wrestler Bajrang Punia – one of the leaders of athlete protests against the federation chief last...

Published 06 May, 2024 12:08pm

Life & Style

Ode to joy: How Austria shaped Beethoven’s Ninth

VIENNA: The night Ludwig van Beethoven’s monumental Ninth Symphony rang out in a Vienna concert hall for the first...

Published 06 May, 2024 12:02pm

South Asia

IAEA chief due in Iran as concern grows over nuclear activity

TEHRAN: UN atomic watchdog chief Rafael Grossi is set to arrive in Iran on Monday, where he is expected to speak at...

Published 06 May, 2024 11:57am

Energy

Gasoline demand growth to slow this year on EV growth in China, US

NEW DELHI: Global petrol demand growth could halve in 2024, squeezing second-half refinery margins, analysts said,...

Published 06 May, 2024 11:51am

Pakistan

KE says 71% of its service territory remains loadshed exempt

K-Electric (KE) has said that 71% of KE’s service territory remains loadshed exempt, adding that the remaining...

Published 06 May, 2024 11:42am

Sports

Andrey Rublev to return to hospital after taking Madrid title

Andrey Rublev battled through a suspected virus and an anaesthetised foot to beat Felix Auger-Aliassime 4-6 7-5 7-5...

Published 06 May, 2024 11:42am

Stocks

Asia shares rally on Fed cut bets; yen pares gains By Rae Wee

SINGAPORE: Asian stocks rose on Monday on renewed bets that the Federal Reserve would likely ease rates this year,...

Published 06 May, 2024 11:36am

Mutual Funds

India bond yields seen lower tracking US peers

MUMBAI: Indian government bond yields are expected to edge lower in early session on Monday, tracking a decline in...

Published 06 May, 2024 11:31am

Companies

Master Changan Motors to launch Deepal S7 electric vehicles in Pakistan

Master Changan Motors Limited (MCML) is set to introduce its first pure electric vehicle brand in Pakistan – Deepal...

Published 06 May, 2024 11:28am

Commodities

Palm oil edges up to mirror strength in rivals

SINGAPORE: Malaysian palm oil futures rose on Monday, tracking rivals soyoil and crude oil higher. The benchmark...

Published 06 May, 2024 11:24am

Business & Finance

ECB rate cut case getting stronger, says chief economist Lane

FRANKFURT: The case for a European Central Bank interest rate cut in June is getting stronger as services inflation...

Published 06 May, 2024 11:17am

Forex

China’s yuan surges to 6-week high, catching up with offshore moves

SHANGHAI: China’s yuan had a catch-up rally and surged to a six-week high against the dollar on Monday, the first...

Published 06 May, 2024 11:13am

Companies

Australia’s Qantas to pay $79mn to settle flight cancellation case

SYDNEY: Australia’s Qantas Airways agreed to pay A$120 million ($79 million) to settle a regulator lawsuit over the...

Published 06 May, 2024 11:11am

Forex

Australian dollar firm as bulls bet on hawkish turn at RBA

SYDNEY: The Australian dollar edged higher on Monday as investors wagered the country’s central bank would sound...

Published 06 May, 2024 11:07am

Europe

Ukraine air force says it destroys 12 Russia-launched drones

Ukraine’s air force said on Monday that its air defence systems destroyed 12 out of 13 attack drones launched by...

Published 06 May, 2024 11:03am

Europe

Global health heavyweights team up for climate, disease funding

LONDON: Three of the biggest global health funders have joined forces for the first time in a $300 million...

Published 06 May, 2024 11:01am

Sports

Jannik Sinner to play in French Open only if 100% fit

Jannik Sinner has cast doubt on his French Open participation, with the world number two saying he will only compete...

Published 06 May, 2024 10:49am

Commodities

Shanghai copper falls on first trading session after holiday

Shanghai copper prices fell on Monday tracking losses in London, amid a firmer dollar and a lack of clear demand...

Published 06 May, 2024 10:47am

Commodities

Soybeans ease from 6-week high, but Brazilian crop woes limit downside

SINGAPORE: Soybeans slid on Monday as the market took a breather after climbing to a six-week high earlier in the...

Published 06 May, 2024 10:44am

Stocks

Mainland China shares book catch-up rally on stimulus hopes, Hong Kong edges lower

SHANGHAI: Mainland Chinese shares staged a catch-up rally tracking their regional peers on Monday as investors...

Published 06 May, 2024 10:42am

Forex

Indian rupee little changed wedged between importers’ dollar demand, lower US bond yields

MUMBAI: The Indian rupee was little changed on Monday as dollar demand from importers hurdled gains even as US bond...

Published 06 May, 2024 10:39am

Business & Finance

Indonesia’s Q1 GDP growth beats forecasts, highest in three quarters

JAKARTA: Indonesia’s economy grew by 5.11% in the first quarter from a year earlier, the highest in three quarters...

Published 06 May, 2024 10:36am

Bullion Rate

Gold rises on Fed rate cut hopes, Middle East tensions

Gold prices ticked higher on Monday, as expectations that the Federal Reserve will start cutting interest rates...

Published 06 May, 2024 10:27am

Stocks

Australian shares rise on US rate cut hopes; RBA in focus

Australian shares rose on Monday after softer-than-expected US jobs data revived hopes of interest rate cuts this...

Published 06 May, 2024 10:18am

Stocks

Indian shares set to open higher on Fed rate-cut hopes

BENGALURU: Indian shares are set to open higher on Monday, tracking upbeat sentiment in Asian peers, after...

Published 06 May, 2024 10:16am

Forex

Dollar steady after soft US jobs report; yen starts week on back foot

SINGAPORE: The dollar was broadly steady on Monday as a soft US jobs report boosted wagers that the Federal Reserve...

Published 06 May, 2024 10:09am

Fast-track solar PV projects by Arab countries: FBR asked to amend sales tax, income tax laws

The government is actively working towards the development of solar PV projects utilizing the G2G mode

Updated 06 May, 2024 09:25am

Business & Finance

PIAF delegation meets minister: ‘Govt to take business-friendly initiatives for economic growth’

LAHORE: Federal Minister for Industries and Production Rana Tanveer Hussain has expressed the hope that the...

Updated 06 May, 2024 09:23am

Wheat worth Rs330bn imported in 7 months

ISLAMABAD: Wheat worth 330 billion rupees was imported in seven months—from August 2023 to March 2024—and 1.3...

Updated 06 May, 2024 09:19am

Blocking SIMs of non-filers: FBR decides to summon telcos’ operators

ISLAMABAD: The Federal Board of Revenue (FBR) has decided to call all telecom operators at the FBR Headquarters to...

Updated 06 May, 2024 09:18am

Export of goods to Afghanistan, CAR: KP exporters seek incentives in PKR

PESHAWAR: All Khyber Pakhtunkhwa Exporters Association during a meeting held at Landikotal city of Khyber District...

Updated 06 May, 2024 09:17am

147MW Patrind HPP: Nepra disposes of SHPL motion for review

ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has disposed of a review motion of Star Hydro...

Updated 06 May, 2024 09:16am

Pakistan, China vow to complete CPEC projects

ISLAMABAD: Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar and Vice Chairman of the Standing Committee...

Updated 06 May, 2024 09:15am

Need stressed to implement much delayed TTS

ISLAMABAD: Prime Minister Shehbaz Sharif’s recent commitment to robust tax enforcement has underscored the urgent...

Updated 06 May, 2024 09:02am

Budget 2024-25: SPDC proposes 37pc increase in FED on tobacco products

ISLAMABAD: The Social Policy Development Centre (SPDC) has proposed a 37 percent increase in Federal Excise Duty...

Updated 06 May, 2024 09:01am

IMF says its mission to visit this month

KARACHI: An International Monetary Fund mission is expected to visit Pakistan this month to discuss a new programme,...

Updated 06 May, 2024 09:00am

Saudi business team arrives

ISLAMABAD: A high-level Saudi business delegation arrived in Pakistan on Sunday with the aim of signing agreements...

Updated 06 May, 2024 08:59am

BR Research

Wheat: executing a flawed policy poorly

If you want to make a muck of something, entrust it to the government. Starting in 2019, this will be the fifth...

Published 06 May, 2024 08:43am

BR Research

Thatta Cement Company Limited

Thatta Cement Company Limited (PSX: THCCL) was incorporated in Pakistan as a public limited company in 1980. The...

Published 06 May, 2024 08:38am

BR’s refresher: your morning briefing for the day

Important updates from May 4 and May 5, 2024

Published 06 May, 2024 08:37am

Opinion

Inflation expectations: normalcy in sight?

The recent data points and trends suggest that inflation is likely to come down at a faster pace than expected. This...

Updated 06 May, 2024 07:04am

Opinion

Redemption of the power sector

A host of sectoral lacunas prevailing in the energy sector have yet to be tackled leave alone overcome and the...

Updated 06 May, 2024 07:04am

Opinion

Palestine and pseudo-democracy in a free Orwellian world

“I am in blood,” Macbeth says, “stepped in so far that should I wade no more,/returning were as tedious as go...

Updated 06 May, 2024 06:59am

Pakistan

First CM Pink Games: Maryam mingles with players

LAHORE: Chief Minister Punjab Maryam Nawaz Sharif participated in the first Chief Minister Pink Games closing...

Updated 06 May, 2024 06:08am

Business & Finance

Maersk’s net profit sinks amid Red Sea attacks

COPENHAGEN: Danish shipping giant Maersk posted a huge drop in net profit for the first quarter on Thursday as ...