News Archives for Latest - 2024-05-09

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Archive - 2024-05-09

World

Netanyahu says Israel ready to ‘stand alone’ after US arms warning

JERUSALEM: Prime Minister Benjamin Netanyahu said Thursday that Israel was prepared to “stand alone” in its war in...

Published 09 May, 2024 11:46pm

Markets

Pakistan’s remittances clock in at $2.8bn in April, up 27.9% YoY

Inflow declines 4.8% on a monthly basis

Published 09 May, 2024 11:14pm

Energy

Oil holds near one-week high on rising demand hopes after China, US data

NEW YORK: Oil prices held near a one-week high on Thursday as data from China and the U.S. that signalled demand in...

Updated 09 May, 2024 11:12pm

World

UN official says Israel closure of Gaza crossings ‘completely crippling’ aid

JERUSALEM: Israel’s closure of key crossings into Gaza has cut off the main entry point for aid, and particularly...

Published 09 May, 2024 10:36pm

Technology

Blocking mobile SIMs: explore alternative strategies to enhance tax collection, GSMA urges FBR

GSMA says move could potentially disrupt vital services, especially during disasters and climate-related events

Updated 09 May, 2024 10:29pm

Business & Economy

PSO proposes swapping debt for stake in public sector companies

Everything will be done through competitive bidding and we will participate and if we win, the stakes will be offset against PSO’s receivables, says CEO Syed Muhammad Taha

Updated 09 May, 2024 10:28pm

Pakistan

May 9: PM Shehbaz says no absolution for those who tried to damage foundations of our nation

President Zardari says those responsible should be held accountable according to law

Updated 09 May, 2024 10:22pm

Stocks

KSE-100 edges higher in range-bound trading

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index closed marginally higher in a range-bound trading...

Updated 09 May, 2024 10:17pm

Forex

IMF tranche: SBP-held foreign exchange reserves jump to nearly 2-year high at over $9bn

Total liquid foreign reserves held by the country now stand at $14.46 billion

Updated 09 May, 2024 10:16pm

South Asia

US says satisfied with India steps on assassination plot

WASHINGTON: The US ambassador to India said Thursday that the United States has been satisfied with India’s response...

Published 09 May, 2024 09:33pm

Pakistan

7 labourers from Punjab shot dead in Gwadar

At least seven labourers were killed and one was injured on Thursday when unknown gunmen opened fire on them in...

Updated 09 May, 2024 09:31pm

Forex

Rupee records marginal decline against US dollar

Currency settles at 278.2 against the greenback in inter-bank market

Updated 09 May, 2024 09:29pm

Companies

Majority stake in PIA: not yet bidders, clarifies Arif Habib Corp in PSX notice

Arif Habib Corporation Limited (AHCL), one of Pakistan’s leading business groups, clarified that submitting an...

Updated 09 May, 2024 09:19pm

Pakistan

No compromise with planners, executors of May 9 tragedy: ISPR

Says politically motivated and brainwashed miscreants in an act of rebellion deliberately resorted to violence

Updated 09 May, 2024 09:15pm

Sports

Sri Lanka names T20 World Cup squad

COLOMBO: Sri Lanka named its T20 World Cup squad Thursday with no changes from the team that won the three series...

Published 09 May, 2024 08:36pm

Sports

Nadal squeezes past qualifier Bergs in Rome opener

ROME: Rafael Nadal battled into the second round of the Rome Open on Thursday after bouncing back from a set down to...

Published 09 May, 2024 08:33pm

Sports

Mbappe gets ready to say goodbye as PSG digest Champions League exit

PARIS: Kylian Mbappe is set to play his last game for Paris Saint-Germain at the Parc des Princes when they host...

Published 09 May, 2024 08:20pm

Stocks

Sri Lankan shares end three-day losing streak on gains in consumer staples, industrials

BENGALURU: Sri Lankan shares closed higher on Thursday, snapping three straight sessions of losses, helped by gains...

Published 09 May, 2024 08:20pm

Pakistan

Interior Minister Naqvi inaugurates Margalla Trails Patrol Unit

Interior Minister Mohsin Naqvi on Thursday formally inaugurated the Margalla Trails Patrol Unit - a new security...

Published 09 May, 2024 08:04pm

Africa

IMF maintains Nigeria growth forecast at 3.3% for 2024

ABUJA: The International Monetary Fund on Thursday maintained its growth forecast of 3.3% for Nigeria’s economy for...

Published 09 May, 2024 07:47pm

Europe

Putin warns of global clash as Russia marks victory in World War Two

MOSCOW: Russian President Vladimir Putin accused the West on Thursday of risking a global conflict and said no one...

Published 09 May, 2024 07:44pm

Forex

Kenya’s currency forecast to gain, Nigerian naira to ease

KAMPALA: Kenya’s currency is expected to strengthen against the dollar in the coming week to Thursday, while the...

Published 09 May, 2024 07:38pm

Middle East

Yemen’s Houthis chief says group will target any ships related to transport of goods to Israel

DUBAI: The leader of Yemen’s Houthis, Abdul Malik al-Houthi, said on Thursday the group would target ships of any...

Published 09 May, 2024 07:31pm

Middle East

Hamas says Israel move on Rafah aims to ‘obstruct’ truce talks

DOHA: A Hamas official on Thursday accused Israel of carrying out incursions in Gaza’s southernmost city of Rafah to...

Published 09 May, 2024 07:28pm

Travel

Thailand’s famed Koh Phi Phi archipelago suffers water shortages after heatwave

BANGKOK: The dazzling Thai holiday islands made famous by Hollywood film ‘The Beach’ are facing a severe water...

Updated 09 May, 2024 07:25pm

Stocks

US stocks go sideways as jobless claims rise

NEW YORK: Wall Street stocks moved sideways Thursday following mixed earnings reports as weekly US jobless claims...

Published 09 May, 2024 07:22pm

Stocks

Major Gulf markets muted as Mideast conflict rages

Major stock markets in the Gulf were subdued on Thursday, led by the Saudi index, amid rising geopolitical tensions...

Published 09 May, 2024 07:01pm

Europe

Europe must ‘deliver’ on Ukraine aid: EU Parliament chief

KYIV: European Parliament Chief Roberta Metsola on Thursday urged Europe to follow through with the aid it has...

Published 09 May, 2024 06:33pm

Commodities

Asia rice: Rates rise in top hubs, Thai prices hit near 2-month peak

Top rice exporters saw rates climb this week due to an uptick in demand, while a stronger baht lifted Thai prices to...

Published 09 May, 2024 05:59pm

Europe

UK’s Cameron urges NATO countries to boost defence spending

LONDON: UK Foreign Secretary David Cameron on Thursday urged NATO partners to soon start spending 2.5 percent of GDP...

Published 09 May, 2024 05:51pm

Forex

Sterling falls after BoE paves way for rate cut, FTSE 100 jumps to record

LONDON: The pound and gilt yields fell on Thursday, while Britain’s blue-chip stock index hit a record after the...

Published 09 May, 2024 05:51pm

Europe

Turkiye not easing Israel export ban, government source says

ANKARA: Relaxing Turkiye’s ban on exports to Israel is “out of the question” though companies have three months to...

Published 09 May, 2024 05:46pm

Sports

Pakistan, Japan set to vie for Azlan Shah Hockey Cup 2024 trophy on Saturday

Greenshirts have qualified for the final of the event for the first time in 13 years

Updated 09 May, 2024 05:44pm

Technology

TikTok to label AI-generated images, video from OpenAI and elsewhere

TikTok said on Thursday it would start using a technology aimed at helping it label images and video generated by...

Published 09 May, 2024 05:31pm

Europe

Putin agrees to withdraw Russian forces from various Armenian regions

MOSCOW: President Vladimir Putin has agreed to withdraw Russian forces and border guards from various parts of...

Published 09 May, 2024 04:55pm

Money & Banking

Bank of England moves closer to first rate cut since 2020

LONDON: The Bank of England took another step towards lowering interest rates, as a second official backed a cut and...

Published 09 May, 2024 04:51pm

Stocks

Indian shares drop most in three months; L&T drags

BENGALURU: Indian shares declined on Thursday, dragged down by Larsen and Toubro after the construction company...

Published 09 May, 2024 04:40pm

Europe

Russian military tech must be ‘one step ahead’: Putin

MOSCOW: Russia needs to modernise its weapons so it is “one step ahead” and will use whatever foreign parts it can...

Published 09 May, 2024 04:39pm

Commodities

Copper retreats on rate cut uncertainty, physical pushback

LONDON: Copper prices retreated on Thursday on a potential delay in interest rate cuts ahead of key inflation data...

Published 09 May, 2024 04:37pm

Commodities

Palm oil falls to one-week low on caution ahead of data release, weaker rivals

SINGAPORE: Malaysian palm oil futures fell to close at a one-week low on Thursday amid lower prices of rival edible...

Published 09 May, 2024 04:35pm

Luxury

Dubai has most millionaires in Middle East, New York tops global list

World’s Wealthiest Cities Report 2024, published by Henley & Partners, also shows Delhi has 30,700 millionaires

Updated 09 May, 2024 04:31pm

Technology

iPad ‘Crush’ ad causes uproar amid AI anxiety

SAN FRANCISCO: An ad for the new iPad Pro caused an uproar Wednesday for showing an industrial-sized hydraulic press...

Published 09 May, 2024 04:29pm

Stocks

China stocks rise on trade growth, property support

SHANGHAI: China stocks closed up on Thursday after solid April trade data added to signs of a pick-up in demand,...

Published 09 May, 2024 03:21pm

Stocks

British equities waver ahead of BoE rate decision

London stocks struggled for direction on Thursday as investors turned cautious ahead of the Bank of England’s...

Published 09 May, 2024 03:19pm

Europe

Ukraine deputy PM in charge of reconstruction ousted amid ministry reform

KYIV: Ukraine’s parliament voted on Thursday to dismiss Deputy Prime Minister Oleksandr Kubrakov, who has overseen...

Published 09 May, 2024 03:17pm

Sports

India’s Chopra says belief key to success in Paris Games

BENGALURU: Olympic and world javelin champion Neeraj Chopra said Indian athletes have shown they can compete with...

Published 09 May, 2024 03:09pm

Forex

Kenyan shilling inches higher on agricultural exports, interbank flows

NAIROBI: Kenya’s shilling inched higher against the dollar on Thursday, as the supply of dollars from agricultural...

Published 09 May, 2024 03:02pm

Stocks

European stocks open higher before BoE decision

LONDON: European stock markets advanced at the start of trade on Thursday with London close to a record high before...

Published 09 May, 2024 02:57pm

South Asia

Nepali guide dies on Himalayan peak as climbing season begins

KATHMANDU: A Nepali guide died after summiting the world’s fifth-highest mountain, officials in the Himalayan...

Published 09 May, 2024 02:48pm

Movies & Music

Disney, Warner Bros Discovery launch US streaming bundle

NEW YORK: Disney and Warner Bros Discovery announced a joint streaming offering on Wednesday that will bring...

Updated 09 May, 2024 02:13pm

Europe

UK’s Labour holds 30-point poll lead over Sunak’s Conservatives

LONDON: Britain’s opposition Labour Party has increased its poll lead over Prime Minister Rishi Sunak’s...

Published 09 May, 2024 01:42pm

Commodities

Gold price per tola unchanged in Pakistan

After witnessing back-to-back decline, gold prices remained unchanged in Pakistan on Thursday. In the local market,...

Published 09 May, 2024 12:59pm

Bullion Rate

Gold in tight range with US economic data on tap

Gold prices hovered in a tight range on Thursday as investors turned their attention to US economic data that could...

Published 09 May, 2024 12:51pm

Sports

Carlo Ancelotti hails Real’s Champions League ‘magic’ after semi-final win

Real Madrid’s success in the Champions League is “something magical”, manager Carlo Ancelotti said after the record...

Published 09 May, 2024 12:47pm

Commodities

Copper edges up in London on China’s trade data, property support

Copper prices in London rose on Thursday, backed by China’s improved trade data and property support measures, but...

Published 09 May, 2024 12:42pm

Real Estate

China’s Country Garden aims to pay missed coupons by next week

HONG KONG: Embattled Chinese property developer Country Garden said it was unable to pay two onshore coupons due on...

Published 09 May, 2024 12:27pm

Middle East

US warns Israel that Rafah invasion will jeopardise weapons supply as assault continues

WASHINGTON/CAIRO/RAFAH: US President Joe Biden vowed publicly for the first time to withhold weapons from Israel if...

Published 09 May, 2024 12:23pm

Business & Finance

Japan’s Nippon Steel full-year profit down 21%, beats estimates

TOKYO: Nippon Steel, Japan’s biggest steelmaker, posted on Thursday a 20.8% fall in net profit for the year ended in...

Published 09 May, 2024 12:08pm

Forex

South African rand steady ahead of manufacturing figures

JOHANNESBURG: South Africa’s rand was steady in early trade on Thursday ahead of monthly manufacturing figures which...

Published 09 May, 2024 12:03pm

Technology

Panasonic expects battery unit’s annual profit to rise 23%

TOKYO: Japan’s Panasonic Holdings forecast on Thursday a 23% rise in operating profit for its battery-making energy...

Published 09 May, 2024 12:01pm

Mutual Funds

Euro zone bond yields tick up as markets await Bank of England

LONDON: Euro zone bond yields ticked higher on Thursday, in subdued trading due to public holidays in many European...

Published 09 May, 2024 11:58am

Life & Style

Swift and Beyonce show the lucrative pop-fashion liaison

PARIS: The return of mega-concerts since the Covid-19 pandemic, with Beyonce and Taylor Swift leading the way, has...

Published 09 May, 2024 11:48am

Sports

Marquez eyes French MotoGP victory but plays down title talk

LE MANS: Marc Marquez approaches the French MotoGP emboldened by his impressive display in Spain where he finished...

Published 09 May, 2024 11:45am

Rs3.2trn cases stuck in courts: ‘Loopholes’ mar FBR’s legal operation: AGP

Attorney General of Pakistan office raises serious concerns over FBR’s system of pursuing cases in courts

Updated 09 May, 2024 11:43am

Europe

Riot police, protesters clash at Amsterdam Gaza demo

THE HAGUE: Dutch riot police clashed on Wednesday with pro-Palestinian protesters as officers moved in to clear...

Published 09 May, 2024 11:42am

Companies

Mitsubishi Motors told to pay $1bn over US car crash

TOKYO: Japan’s Mitsubishi Motors said Thursday it had been told by a US court to pay $1.01 billion in damages over a...

Published 09 May, 2024 11:41am

USA

Stormy Daniels back in the Trump trial hot seat

NEW YORK: Stormy Daniels is to return to the witness stand on Thursday at Donald Trump’s historic hush money trial...

Published 09 May, 2024 11:40am

Stocks

Hong Kong, Shanghai begin day on tepid note

HONG KONG: Hong Kong stocks and mainland Chinese markets were barely moved at the open Thursday, with traders...

Published 09 May, 2024 11:35am

Sports

Hardik Pandya’s Mumbai Indians first to exit IPL play-off race

NEW DELHI: IPL heavyweights Mumbai Indians became the first team to be knocked out of the play-off race after...

Published 09 May, 2024 11:33am

Asia

South Korea vows strong Ukraine ties, smooth Russia relations

SEOUL: South Korean President Yoon Suk Yeol said Thursday Seoul would keep strong ties with Ukraine and a “smooth”...

Published 09 May, 2024 11:31am

Asia

Thai PM calls for illegal drugs crackdown

BANGKOK: Thai Prime Minister Srettha Thavisin has vowed to crack down on illegal drugs, saying that possessing “even...

Published 09 May, 2024 11:26am

Europe

Eight injured in Ukrainian attacks on Russia’s Belgorod

MOSCOW: Eight people were injured in overnight Ukrainian attacks in and around the western Russian city of Belgorod,...

Published 09 May, 2024 11:24am

World

Rains return to flooded southern Brazil, interrupting rescues

PORTO ALEGRE: Authorities interrupted rescue efforts in flood-ravaged southern Brazil on Wednesday amid more rain...

Published 09 May, 2024 11:09am

Business & Finance

BOJ will scrutinise weak yen in guiding monetary policy, says Governor Ueda

TOKYO: Bank of Japan Governor Kazuo Ueda said on Thursday the central bank will scrutinise the yen’s recent declines...

Published 09 May, 2024 11:08am

Stocks

Asia shares steady after solid China trade data, yen stable after recent falls

SYDNEY: Asian shares steadied on Thursday after solid Chinese trade data added to signs domestic demand in the...

Published 09 May, 2024 11:06am

Technology

Huawei’s new phone uses more China-made parts, memory chip

SHENZHEN/SHANGHAI: Huawei’s latest high-end phone features more Chinese suppliers, including a new flash memory...

Published 09 May, 2024 11:05am

Commodities

China’s exports and imports return to growth, signalling demand recovery

BEIJING: China’s exports and imports returned to growth in April after contracting in the previous month, customs...

Published 09 May, 2024 11:02am

Sports

Rafa Nadal happy to be playing third straight event after injury return

Rafa Nadal said he is encouraged by his steady progress after returning from injury last month, as the 14-times...

Published 09 May, 2024 10:48am

Mutual Funds

Indian bond yields seen steady ahead of debt buyback

MUMBAI: Indian government bond yields are expected to be little changed in early trading on Thursday, as traders...

Published 09 May, 2024 10:45am

Forex

Indian rupee to shrug off drop in Asia FX, higher US yields

MUMBAI: The Indian currency is expected to inch higher at the open on Thursday, ignoring the weakness in its Asian...

Published 09 May, 2024 10:29am

Pakistan, World Bank agree to ‘Country Partnership Framework’

ISLAMABAD: Pakistan and the World Bank on Wednesday agreed to collaborate on a new, robust and ambitious Country...

Updated 09 May, 2024 10:24am

Digitalisation: World Bank VP briefed on FBR’s initiatives

ISLAMABAD: The Vice President of World Bank Martin Raiser visited the Federal Board of Revenue (FBR) HQ Wednesday...

Updated 09 May, 2024 10:24am

Stocks

Australian shares retreat as miners, banks drag; CBA down on lower profit

Australian shares snapped a five-session rally on Thursday, pulled down by miners, banks and healthcare stocks,...

Published 09 May, 2024 10:23am

Sports

Australia’s Head says IPL form no guarantee for World Cup success

Travis Head has decimated bowling attacks in the Indian Premier League (IPL) this year but the Australian tempered...

Published 09 May, 2024 10:21am

Commodities

China April copper imports slide on month as prices rally

BEIJING: China’s unwrought copper imports fell 8.2% in April from the prior month, customs data showed on Thursday,...

Published 09 May, 2024 10:16am

Stocks

L&T drags Indian bluechips at open, volatility index climbs

BENGALURU: Indian shares edged lower on Thursday, dragged by losses in construction major Larsen and Toubro...

Published 09 May, 2024 10:12am

Europe

China’s Xi Jinping in Hungary to discuss Ukraine, infrastructure

BUDAPEST: Chinese President Xi Jinping is due to meet Hungarian Prime Minister Viktor Orban on Thursday, with the...

Published 09 May, 2024 10:10am

Stocks

Japanese shares rises on value stocks’ appeal as rate hike looms

TOKYO: Japanese shares rose on Thursday, rebounding from declines in the previous session, with investors scooping...

Published 09 May, 2024 10:06am

Forex

Dollar holds its ground as key inflation data looms

TOKYO: The dollar held tight ranges against most peers on Thursday as traders awaited key US inflation data for cues...

Published 09 May, 2024 10:04am

Pakistan

Violence, arrests of lawyers in Lahore: PBC, SCBA give call for nationwide strike today

ISLAMABAD: The Pakistan Bar Council (PBC) and the Supreme Court Bar Association (SCBA) have called for a nationwide...

Updated 09 May, 2024 09:37am

Attempt made to crush PTI thru false flag operation: IK

ISLAMABAD: The founding chairman of Pakistan Tehreek-e-Insaf (PTI) Imran Khan Wednesday said a pre-planned malicious...

Updated 09 May, 2024 09:20am

May 9 riots: govt to mark ‘black day’ today

ISLAMABAD: The government has decided to mark May 9 as “black day” on Thursday (today) in commemoration of the first...

Updated 09 May, 2024 09:20am

PD finalises 5-year privatisation programme

ISLAMABAD: Privatisation Division has finalized a five-year (2024-29) privatisation programme on the direction of...

Updated 09 May, 2024 09:19am

Pakistan

IRSA to take stock of water-sharing situation every 10 days

ISLAMABAD: Indus River System Authority (IRSA) will review water sharing between provinces every 10 days and...

Updated 09 May, 2024 09:15am

KE’s FCA petition: Nepra to hold public hearing today

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) will conduct a public hearing on Thursday (May...

Updated 09 May, 2024 09:14am

Upgradation of existing/Brownfield refineries: 6-month extension proposed in policy signing

ISLAMABAD: Petroleum Division has proposed six months’ extension in signing of Pakistan Oil Refining Policy for...

Updated 09 May, 2024 09:14am

Issues facing newspapers will be addressed: Tarrar

ISLAMABAD: The Federal government firmly stands for the promotion of print media and the issues confronted by...

Updated 09 May, 2024 08:52am

BR’s refresher: your morning briefing for the day

Important updates from May 8, 2024

Published 09 May, 2024 08:52am

BR Research

You cannot quit cold turkey when there is no market!

To the federal cabinet secretary in charge of the wheat inquiry committee: Happy hunting, sir. Afterall, if a target...

Published 09 May, 2024 08:23am

BR Research

Nimir Industrial Chemicals Limited

Nimir Industrial Chemicals Limited (PSX: NICL) was incorporated in Pakistan in 1994 as Ravi Alkalis Limited and was...

Published 09 May, 2024 08:17am

Opinion

Counterproductive trickle-down economic effect

The critique of Western universities and certain schools of thought advocating for economic models based on the...