News Archives for Latest - 2024-05-08

Energy

May power bills: NEPRA approves Rs2.83 per unit hike in FCA

Increase applies to all consumer categories of ex-Wapda distribution companies except EV charging stations and lifeline consumers

Updated 08 May, 2024 11:06pm

Pakistan

Police baton charge, fire tear gas as lawyers protest outside LHC

Punjab CM Maryam Nawaz Sharif directs IG Police to refrain from using force against the lawyers

Updated 08 May, 2024 11:06pm

Middle East

Israel continues aggression in Gaza as negotiators work towards truce

RAFAH: Israel struck targets in the Gaza Strip on Wednesday after seizing the main border crossing with Egypt, where...

Updated 08 May, 2024 11:05pm

Markets

Attock Refinery restarts operation of key unit

Amid improvement in the uplifting of High-Speed Diesel (HSD), Attock Refinery Limited (ATRL), a subsidiary of Attock...

Updated 08 May, 2024 11:04pm

Pakistan

Qatar’s Minister of State to arrive in Pakistan on Thursday: FO

The Minister of State for Foreign Affairs of the State of Qatar, Dr Mohammed bin Abdulaziz Al-Khulaifi will visit...

Published 08 May, 2024 11:03pm

Pakistan

Six terrorists killed in separate KP operations: ISPR

Military's media wing says law enforcement agencies remain dedicated to eliminating threat of terrorism from the country

Updated 08 May, 2024 10:11pm

World

Lebanon body puts Israeli bombardment damage at $1.5bn

BEIRUT: Israeli bombardment of south Lebanon in seven months of cross-border hostilities with Hezbollah has caused...

Published 08 May, 2024 10:10pm

QTA mechanism: Discos seek Rs1.60 per unit positive adjustment

ISLAMABAD: Power Distribution Companies (Discos) have sought positive adjustment of up to Rs1.60 per unit to recover...

Updated 08 May, 2024 10:10pm

World

South Gaza hospitals have only three days’ fuel left: WHO

GENEVA: Hospitals in the southern Gaza Strip have only three days of fuel left due to closed border crossings, the...

Published 08 May, 2024 10:01pm

Pakistan

IHC accepts Bushra Bibi’s plea seeking transfer to Adiala Jail

The former first lady was detained in Banigala instead of Adiala Jail

Updated 08 May, 2024 09:59pm

Stocks

KSE-100 falls as profit-taking kicks in, volume high over WorldCall Telecom

Bearish sentiment prevailed at the Pakistan Stock Exchange (PSX) as the benchmark KSE-100 ended with a loss of...

Updated 08 May, 2024 09:55pm

Europe

EU agrees on using Russian asset profits for Ukraine

BRUSSELS: EU member states reached agreement Wednesday on a plan to use billions of euros in profits from frozen...

Published 08 May, 2024 09:52pm

Sports

Azlan Shah Cup: Pakistan inch closer to final after 5-4 win over Canada

Pakistan moved closer to securing a spot in the final of the Sultan Azlan Shah Cup 2024 after a thrilling 5-4...

Published 08 May, 2024 09:45pm

Forex

Rupee largely stable against US dollar

Currency settles at 278.10 against the greenback in inter-bank market

Updated 08 May, 2024 09:42pm

South Asia

Blast in north Afghanistan kills three Taliban security personnel

KABUL: Three Taliban security personnel were killed when a motorcycle carrying an explosive device blew up near a...

Updated 08 May, 2024 09:35pm

Sports

Osaka wins in Rome after three-year absence

ROME: Naomi Osaka marked her return to the Rome Open for the first time since 2021 with a straight sets victory over...

Published 08 May, 2024 09:24pm

Sports

Djokovic says he is ready to peak at French Open

ROME: World number one Novak Djokovic said he believes he will be in top form for the French Open and hopes to prove...

Published 08 May, 2024 08:46pm

Stocks

Abu Dhabi leads as Gulf bourses end higher; Egypt drops

Most stock markets in the Gulf ended higher on Wednesday, led by the Abu Dhabi index as strong corporate earnings...

Published 08 May, 2024 07:56pm

South Asia

Bangladesh raises key policy rate to fight inflation

DHAKA: Bangladesh’s central bank raised its key interest rate by half a percentage point on Wednesday, its second...

Published 08 May, 2024 07:50pm

Middle East

Only three days of fuel for health services in south of Gaza, says WHO

LONDON: There is only enough fuel to run health services in the south of Gaza for three more days, the World Health...

Published 08 May, 2024 07:42pm

Stocks

US stocks dip following mixed earnings

NEW YORK: Wall Street stocks were slightly lower early Wednesday following mixed earnings as markets stall ahead of...

Published 08 May, 2024 07:22pm

Pakistan

Taliban deny Afghan bomber involved in deadly attack on Chinese dam engineers

KABUL: The Taliban defence ministry on Wednesday denied Pakistan’s allegations that Afghans were involved in an...

Updated 08 May, 2024 07:20pm

Europe

Ex-England cricketer Panesar quits as UK parliamentary candidate

LONDON: Former England cricketer Monty Panesar has withdrawn as an election candidate for the fringe Workers Party...

Published 08 May, 2024 07:11pm

Middle East

‘More discreet’: Israeli aggression in Gaza cools once red-hot business ties with UAE

JERUSALEM/DUBAI: Israeli aggression in Gaza has cooled business activity with the United Arab Emirates, with the...

Published 08 May, 2024 06:56pm

Stocks

Sri Lankan shares end lower as financials, communication services stocks drag

BENGALURU: Sri Lankan shares closed lower on Wednesday, pressured by a slump in financials and communication...

Published 08 May, 2024 06:43pm

Luxury

London’s 200-year-old Garrick Club finally to allow women members

Members include King Charles now, Charles Dickens in past

Published 08 May, 2024 06:19pm

Europe

EU chief accuses far-right party of ‘betraying’ Germany

FRANKFURT: European Commission President Ursula von der Leyen on Wednesday accused the AfD of “betraying” Germany,...

Published 08 May, 2024 06:16pm

Sports

Nadal welcomes unusual role of underdog

ROME: Spanish tennis legend Rafael Nadal said on Wednesday he was “excited to be playing in Rome” despite entering...

Published 08 May, 2024 06:13pm

Middle East

Washington police clear pro-Palestinian university encampment

WASHINGTON: Washington police cleared an encampment of pro-Palestinian protesters at George Washington University on...

Published 08 May, 2024 06:10pm

South Asia

Bangladesh gets draft approval for IMF payout of almost $1.2bn

WASHINGTON: IMF staff and Bangladesh have reached an agreement to unlock close to $1.2 billion in financing as the...

Published 08 May, 2024 06:03pm

Companies

Emirates boss ‘not happy’ over Boeing aircraft delays

DUBAI: The head of Dubai’s Emirates airline urged Boeing on Tuesday to “fix” its problems, warning the embattled...

Published 08 May, 2024 05:59pm

Europe

Brussels University to file police complaint over student violence in Gaza protest

BRUSSELS: Brussels University (ULB) will file a police complaint against students involved in a violent protest...

Published 08 May, 2024 05:49pm

Commodities

Gold price per tola falls Rs800 in Pakistan

Gold prices fell in Pakistan for the second consecutive session on Wednesday in line with an ease in the...

Updated 08 May, 2024 05:48pm

Middle East

Israel pessimistic on Gaza truce talks, but delegation remains in Cairo

JERUSALEM: Israel sees no sign of a breakthrough in Egyptian-mediated talks on a truce with Hamas that would free...

Published 08 May, 2024 05:39pm

South Asia

India arrests four accused of recruiting for Russian army

NEW DELHI: Indian authorities have arrested four people accused of “trafficking” citizens of the country to fight...

Published 08 May, 2024 05:28pm

Movies & Music

Macklemore supports Palestinians, campus protests with new track titled ‘Hind’s Hall’

NEW YORK: Macklemore has released a new song in support of Palestinians that also praises students across the United...

Published 08 May, 2024 05:08pm

Financial

Abu Dhabi’s Aldar sell $500mn in 10-year green sukuk

Abu Dhabi’s largest real estate developer Aldar Properties Has launched $500 million in 10-year green sukuk, an...

Published 08 May, 2024 05:07pm

Energy

Oil slides on rising US stockpiles, strong dollar

LONDON: Oil prices fell on Wednesday as industry data showed a rise in crude and fuel inventories in the U.S. and as...

Updated 08 May, 2024 05:01pm

Stocks

Indian shares end volatile day muted; Hero offsets losses

BENGALURU: Indian shares ended flat on Wednesday as gains in oil stocks and a jump in two-wheeler maker Hero...

Published 08 May, 2024 04:58pm

Commodities

Profit-taking sparked by firm dollar weighs on copper

LONDON: Copper prices fell on Wednesday as a firm dollar triggered profit-taking, but expectations of robust demand...

Published 08 May, 2024 04:55pm

Commodities

Palm oil snaps two-day winning streak amid lower soyoil, export woes

SINGAPORE: Malaysian palm oil futures ended a two-day winning streak to close lower on Wednesday amid weaker prices...

Published 08 May, 2024 04:52pm

Europe

Dozens detained at Paris pro-Palestinian university protest

PARIS: French police detained 86 people following an operation to remove students staging a pro-Palestinian...

Published 08 May, 2024 04:48pm

Sports

Bangladesh recall Shakib for last two Zimbabwe T20s

DHAKA: Bangladesh on Wednesday recalled all-rounder Shakib Al Hasan and pace bowler Mustafizur Rahman for the final...

Published 08 May, 2024 04:43pm

Stocks

Europe stocks advance, London hits new record

LONDON: European stocks advanced Wednesday, with London striking another record, driven by hopes of interest rate...

Updated 08 May, 2024 04:40pm

Europe

Russia says it captured two more villages in Ukraine

MOSCOW: Russia said Wednesday it had captured two more frontline villages in Ukraine, including in the north-east...

Published 08 May, 2024 04:39pm

Movies & Music

‘Heeramandi’, Netflix’s biggest-budget Indian original to date, is also Bhansali’s grandest yet

‘Heeramandi’ – a collaboration between Netflix and Bollywood filmmaker Sanjay Leela Bhansali – is the streamer’s...

Published 08 May, 2024 04:22pm

Commodities

Jordan tenders to buy up to 120,000 metric tons wheat, traders say

HAMBURG: Jordan’s state grain buyer has issued an international tender to buy up to 120,000 metric tons of milling...

Published 08 May, 2024 03:45pm

Europe

Israel must comply with international law in Rafah: Moscow

MOSCOW: The Russian foreign ministry on Wednesday insisted that Israel strictly observe international humanitarian...

Published 08 May, 2024 03:40pm

Stocks

Saudi leads Gulf bourses higher in early trade

Most stock markets in the Gulf were up in early trade on Wednesday, led by the Saudi index on strong corporate...

Published 08 May, 2024 03:02pm

Stocks

AstraZeneca boosts FTSE 100 to new highs; BOE rate decision in focus

The UK’s FTSE 100 benchmark stock index scaled new highs on Wednesday, led by AstraZeneca after the drugmaker...

Published 08 May, 2024 03:00pm

Europe

Kremlin declines comment on alleged Zelenskiy assassination plot

MOSCOW: The Kremlin on Wednesday said it had no comment on Ukrainian assertions that Kyiv caught Russian agents...

Published 08 May, 2024 02:56pm

Forex

Kenyan shilling gains as IMF talks near, importers hold off

Kenya’s shilling gained against the dollar on Wednesday, bolstered by market expectation the east African country...

Published 08 May, 2024 02:54pm

Europe

China’s Xi to discuss multi-billion euro investments in Serbia

BELGRADE: Serbia welcomed Chinese President Xi Jinping with a military guard of honour on Wednesday ahead of a...

Published 08 May, 2024 02:52pm

Travel

Cruise operator Royal Caribbean recruiting thousands to meet surging demand

NEW YORK: Cruise operator Royal Caribbean Group is in discussions with new and existing markets around the world to...

Published 08 May, 2024 02:17pm

Middle East

African Union ‘firmly condemns’ Israeli incursion into Rafah

NAIROBI: The African Union condemned Wednesday the Israeli military’s moves into southern Gaza’s Rafah, calling for...

Published 08 May, 2024 02:09pm

Movies & Music

John Krasinski’s ‘IF’ brings imaginary world alive for daughters

LONDON: John Krasinski says he made his new film ‘IF’ for his children.The live-action and animated fantasy comedy...

Published 08 May, 2024 01:43pm

Stocks

Hong Kong stocks finish with losses

HONG KONG: Hong Kong stocks finished with another loss Wednesday as investors took a breather after a 10-day winning...

Published 08 May, 2024 01:32pm

Mutual Funds

JGB yields mixed on lacklustre auction as rate outlook pondered

TOKYO: Japanese government bond (JGB) yields meandered on Wednesday, as caution over future rate hikes by the Bank...

Published 08 May, 2024 12:47pm

South Asia

India’s Modi, chasing reform legacy, shifts income goals for struggling farmers

MATHURA: Indian Prime Minister Narendra Modi has drawn up new targets to boost farmer incomes as he seeks to secure...

Published 08 May, 2024 12:45pm

Sports

England’s Zak Crawley aiming for white-ball role

Zak Crawley is aiming to secure a more regular role in England’s white-ball teams after establishing himself in the...

Published 08 May, 2024 12:34pm

Sports

Coco Gauff puts Paris Olympics in same bracket as Grand Slams

Coco Gauff was denied the chance to compete at the Tokyo Olympics in 2021 after testing positive for COVID and the...

Published 08 May, 2024 12:30pm

Commodities

Taiwan’s MFIG buys about 65,000 T corn, expected from Brazil

HAMBURG: Taiwan’s MFIG purchasing group bought about 65,000 metric tons of animal feed corn expected to be sourced...

Published 08 May, 2024 12:28pm

Stocks

Asia stocks drift, dollar firm as Fed rate path pondered

TOKYO: Asian stocks lacked direction on Wednesday, while the dollar remained firm despite lower US Treasury yields...

Published 08 May, 2024 12:09pm

Bullion Rate

Gold slips as dollar firms, traders brood on rate cut timing

Gold prices dipped on Wednesday as the dollar edged up, while market participants assessed the timeline for...

Published 08 May, 2024 12:04pm

Sports

Katie Ledecky’s 800m gold medal hopes boosted as McIntosh opts out

Canadian wunderkind Summer McIntosh has opted out of the 800 metres freestyle at Olympic trials, boosting Katie...

Published 08 May, 2024 11:56am

Forex

Indian rupee to cling to 83.50/USD amid resurgent dollar, central bank support

MUMBAI: The Indian rupee is expected to open little changed and hold a narrow range on Wednesday amid dollar...

Published 08 May, 2024 11:46am

USA

US paused shipment of weapons to Israel to head off Rafah invasion

WASHINGTON: US President Joe Biden’s administration paused a shipment of weapons to Israel last week in opposition...

Published 08 May, 2024 11:44am

Commodities

Palm oil rises for third session on Dalian strength

SINGAPORE: Malaysian palm oil futures rose for a third straight session on Wednesday, tracking gains in rival oils...

Published 08 May, 2024 11:37am

Commodities

China’s 2024 iron ore imports seen 1.17-1.18bn metric tons

SINGAPORE: Imports of iron ore by China, the world’s biggest buyer, in 2024 are expected to be around 1.170 to 1.180...

Published 08 May, 2024 11:33am

Forex

China’s yuan slips as hawkish Fed comments boost dollar

HONG KONG: The yuan eased against the dollar on Wednesday after hawkish comments by a Federal Reserve official...

Published 08 May, 2024 11:30am

Commodities

Wheat rises on demand from global buyers; corn and soybeans extend losses

JAKARTA: Chicago wheat prices rose on Wednesday amid reports of demand from international buyers, while soybeans and...

Published 08 May, 2024 11:20am

Energy

Egypt’s non-oil business shrinks for 41st straight month, PMI shows

CAIRO: Egypt’s non-oil private sector continued to shrink in April despite a $35 billion investment deal signed with...

Published 08 May, 2024 11:14am

Sports

Kumar Sangakkara backs Royals’ Samson to have a good run for India at World Cup

Rajasthan Royals skipper Sanju Samson has made his case to become India’s first-choice wicketkeeper-batsman at the...

Published 08 May, 2024 11:09am

Commodities

Indonesia to extend copper export permits for Freeport and Amman, president says

JAKARTA: Copper concentrate export permits for Freeport Indonesia and Amman Mineral Nusa Tenggara will be extended,...

Published 08 May, 2024 11:03am

Energy

Norway oil workers agree to wage deal, averting strike

OSLO: Wage talks between Norwegian oil firms and three labour unions ended in a deal on Wednesday, industry and...

Published 08 May, 2024 10:58am

Mutual Funds

Indian bond yields flattish as traders await fresh triggers

MUMBAI: Indian government bond yields were little changed on Wednesday, continuing to search for strong directional...

Published 08 May, 2024 10:52am

Europe

Russian attack causes serious damage at Ukraine power plants

Russia’s air attack caused serious equipment damage at three thermal power plants, DTEK, Ukraine’s largest private...

Published 08 May, 2024 10:49am

Sports

Brazil’s bid to host the Women’s World Cup tops European rival

Brazil’s bid to host the 2027 Women’s World Cup scored higher than its rival, a joint bid from Belgium, Netherlands...

Published 08 May, 2024 10:45am

Stocks

Japan’s Nikkei loses stream as market awaits fresh catalyst

TOKYO: Japan’s Nikkei share average fell more than 1% on Wednesday, slipping from multi-week highs hit in the...

Published 08 May, 2024 10:37am

Stocks

Indian shares set for a muted open; volatility in focus

BENGALURU: Indian shares are set for a muted open on Wednesday, likely weighed by growing uncertainties around...

Published 08 May, 2024 10:33am

Stocks

Australia shares tick higher as investors assess c.bank policy stance

Australian shares extended gains to fifth consecutive session on Wednesday, with healthcare firms among top gainers,...

Published 08 May, 2024 10:31am

Europe

UK rules out cyber threat after resolving passport gate outage

LONDON: Britain’s Home Office said border control systems are operational after an outage that it deemed was not a...

Published 08 May, 2024 10:24am

Europe

Russia targets energy facilities in air attack on Ukraine, officials say

KYIV: A Russian air attack on Ukraine damaged several facilities in a strike targeting energy infrastructure across...

Published 08 May, 2024 10:17am

Forex

Dollar regains momentum as yen struggles

SINGAPORE: The dollar was back on the front foot on Wednesday, making modest gains after earlier losses from renewed...

Published 08 May, 2024 10:09am

Sports

Kylian Mbappe best not enough as PSG exit Champions League

Paris St Germain forward Kylian Mbappe shouldered the blame for their 1-0 defeat to Borussia Dortmund on Tuesday...

Published 08 May, 2024 10:05am

Business & Finance

Cabinet allows AirSial to start some international operations

ISLAMABAD: The federal cabinet has allowed AirSial to start flight operations in China, Malaysia, Sri Lanka,...

Updated 08 May, 2024 09:53am

Dar says country committed to IP pipeline project

ISLAMABAD: Reaffirming the government’s commitment to pursue the Iran-Pakistan (IP) Gas Pipeline Project...

Updated 08 May, 2024 09:21am

Govt mulling taking big step to reduce pension burden

Finance Minister Muhammad Aurangzeb says issue of pension a huge burden

Updated 08 May, 2024 09:21am

Erstwhile tribal areas: Tax, duty exemptions not to be extended beyond June 30

ISLAMABAD: The government has decided not to further extend the exemption from duties and taxes for the erstwhile...

Updated 08 May, 2024 09:19am

PD and then to Sovereign Fund: CCoP’s nod sought for transfer of OGDCL shares

ISLAMABAD: Privatisation Division has sought approval of Cabinet Committee on Privatisation (CCoP) for transfer of...

Updated 08 May, 2024 09:19am

2022-23 period: Army paid Rs100bn duties, taxes: DG ISPR

ISLAMABAD: Director General Inter-Services Public Relations (DG ISPR) Maj-Gen Ahmed Sharif on Tuesday said the...

Updated 08 May, 2024 09:18am

ST registered persons: FBR modifies requirement of filing balance sheet

ISLAMABAD: The Federal Board of Revenue (FBR), Tuesday, modified a controversial requirement for filing balance...

Updated 08 May, 2024 09:17am

NTDC projects: ADB identifies implementation challenges

ISLAMABAD: The Asian Development Bank (ADB) has pointed out implementation challenges in NTDC projects, which are...

Updated 08 May, 2024 08:51am

Attachment of bank accounts of taxpayers: FBR orders sales tax/FED recovery only after approval by field committees

ISLAMABAD: The Federal Board of Revenue (FBR) has directed Inland Revenue (IR) field formations to recover sales...

Updated 08 May, 2024 08:51am

Tax system digitalisation: FBR forms project management team

ISLAMABAD: The Federal Board of Revenue (FBR) has constituted a project management team for tax system...

Updated 08 May, 2024 08:50am

Liquidation of appeals before IR, ATIR: Tax Laws Act to be effective from May 6

ISLAMABAD: The government has enforced the Tax Laws (Amendment) Act, 2024 from May 6, 2024, in an attempt to...

Updated 08 May, 2024 08:48am

BR’s refresher: your morning briefing for the day

Important updates from May 7, 2024

Published 08 May, 2024 08:44am

Industry

CWEIC CE invites cos to attend Commonwealth Business Forum 2024

KARACHI: Rosie Glazebrook, Chief Executive of Commonwealth Enterprise & Investment Council (CWEIC), invited...

Published 08 May, 2024 08:01am

Business & Finance

President DCAA inaugurates ‘ATM 2024’ event at DWTC

KARACHI: Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority (DCAA), Chairman of Dubai...

Published 08 May, 2024 07:58am

Money & Banking

DIBPL joins IFC’s global trade finance programme

KARACHI: Dubai Islamic Bank Pakistan Limited (DIBPL) has signed an Issuing Bank Agreement (IBA) with the...

Published 08 May, 2024 07:58am

Companies

Real estate group IMARAT enters capital market with REIT licence

KARACHI: IMARAT Group of Companies, a renowned name in Pakistan’s real estate sector, achieved a significant...

Published 08 May, 2024 07:57am

Pakistan

PHDEC hosts ‘pre-season mango’ seminar

HYDERABAD: Pakistan Horticulture Development & Export Company (PHDEC) hosted a Pre-Season Mango Seminar, ...

Updated 08 May, 2024 07:55am

Industry

Pakistan’s dairy industry: USAID organises workshop on how to deal with challenge of methane emissions

ISLAMABAD: The United States Agency for International Development (USAID) brought together stakeholders from various...

Published 08 May, 2024 07:54am

Commodities

PMEX daily trading report

KARACHI: On Monday at PMEX, the traded value of Metals, Energy, COTS/FX and indices was recorded at PKR19.746 ...

Published 08 May, 2024 07:36am

Commodities

Iron ore prices hold steady on property stimulus hopes

BEIJING: Iron ore futures prices were largely unchanged on Tuesday, following a strong increase the previous day, as...

Published 08 May, 2024 07:35am

Stocks

China stocks edge up, led by properties

SHANGHAI: China stocks closed up on Tuesday, led by property shares, as a slew of measures helped lift sentiment in...

Published 08 May, 2024 07:35am

Commodities

Japanese rubber futures rise on poor weather

SINGAPORE: Japanese rubber futures rose on Tuesday after returning from a long holiday, supported by adverse weather...