News Archives for Latest - 2024-05-10

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Archive - 2024-05-10

Taxes

FBR starts process of blocking mobile SIMs of non-filers

First batch comprising 5,000 non-filers has been communicated to telecom operators for disabling their mobile phone SIMs, board says

Updated 11 May, 2024 12:29am

Sports

Azlan Shah Hockey Cup 2024: Pakistan hold New Zealand to 1-1 draw

Greenshirts to face Japan in final of the tournament on Saturday

Updated 10 May, 2024 11:59pm

Energy

Oil benchmark Brent above $84 on perky US, China demand signals

LONDON: Global benchmark Brent hovered above $84 a barrel on Friday after data this week signalled growing demand in...

Updated 10 May, 2024 11:57pm

Pakistan

PPP's Sultan Saleem Haider takes oath as Governor Punjab

Pakistan Peoples Party's (PPP) Sultan Saleem Haider was sworn in as the 47th Governor of Punjab on Friday. Chief...

Published 10 May, 2024 11:50pm

World

South Africa asks World Court to order Israel’s withdrawal from Rafah

AMSTERDAM: South Africa has asked the International Court of Justice (ICJ) to order Israel to withdraw from Rafah as...

Published 10 May, 2024 11:45pm

South Asia

Flash floods kill 50 in one day in north Afghanistan

KABUL: At least 50 people, mainly women and children, were killed Friday in flash flooding that ripped through...

Published 10 May, 2024 11:30pm

Stocks

Lucky Core Industries approves acquisition of Pfizer manufacturing facility in Karachi

The Board of Directors (BoD) of Lucky Core Industries Limited, previously known as ICI Pakistan Limited, has...

Updated 10 May, 2024 10:57pm

Markets

Pakistan plans to issue green Sukuk bonds by December: Aurangzeb

Bonds will be utilised to finance sustainable development projects, finance minister says

Updated 10 May, 2024 10:56pm

World

US giving Ukraine $400mn in new military aid

WASHINGTON: The United States on Friday announced a new $400 million military aid package for Kyiv as Russia...

Published 10 May, 2024 10:43pm

Middle East

UN General Assembly backs Palestinian bid for membership

Assembly adopts resolution with 143 votes in favour and nine against - including US and Israel - while 25 countries abstain

Published 10 May, 2024 09:47pm

Middle East

Israel strikes eastern Rafah as ceasefire talks end with no deal

CAIRO/RAFAH: Israeli forces bombarded areas of Rafah on Thursday, Palestinian residents said, as Prime Minister...

Updated 10 May, 2024 09:17pm

Stocks

KSE-100 hits record high, closes over 73,000 for the first time

After a few lacklustre sessions, the Pakistan Stock Exchange (PSX) witnessed a buying spree on Friday as its...

Updated 10 May, 2024 09:14pm

Europe

Putin reappoints Russian PM after election victory

MOSCOW: Russian Prime Minister Mikhail Mishustin was reappointed as head of the country’s government on Friday,...

Published 10 May, 2024 08:29pm

Energy

Islamabad seeks Chinese assistance for completion of two hydropower projects

Planning minister Ahsan Iqbal says government intends to revive original momentum of CPEC projects and remains committed to high-quality development

Updated 10 May, 2024 08:28pm

South Asia

12 Maoists killed in clash with Indian security forces

RAIPUR: At least 12 Maoist insurgents were shot dead by Indian security forces on Friday, police said, during the...

Published 10 May, 2024 08:25pm

Cricket

Sri Lanka doubles Test match fees for cricketers

COLOMBO: Sri Lanka’s cricket board said Friday it had doubled the Test match fees paid to its international...

Published 10 May, 2024 08:20pm

Stocks

Wall St gains ahead of Fed officials’ remarks; Dow nears 40,000 mark

US stocks rose on Friday, as investors eagerly awaited comments from Federal Reserve officials to get more clarity...

Published 10 May, 2024 07:58pm

Bullion Rate

Gold price per tola jumps Rs4,600 in Pakistan

Gold prices rebounded in Pakistan on Friday in line with the increase in the international rate. In the local...

Updated 10 May, 2024 07:54pm

Europe

Ukraine to get its first F-16 jets in June-July, says Kyiv military source

KYIV: Kyiv expects to receive its first F-16 fighter jets from its Western allies in June-July, a high-ranking...

Published 10 May, 2024 07:54pm

USA

Dozens arrested at Penn, MIT in latest crackdowns on Gaza protests

Police dismantled encampments and arrested dozens of pro-Palestinian protesters at the Massachusetts Institute of...

Published 10 May, 2024 07:50pm

USA

Death toll from floods in southern Brazil hits 113

SAO PAULO: The death toll from heavy rains in Brazil’s Rio Grande do Sul state has climbed to 113, local civil...

Published 10 May, 2024 07:33pm

Forex

Rupee registers marginal improvement against US dollar

Currency settles at 278.12 against greenback in inter-bank market

Updated 10 May, 2024 06:42pm

Sports

Malaysian player Halim recovering after acid attack left him in critical condition

Malaysian soccer player Faisal Halim has responded well to a third surgery and can walk after being left in critical...

Published 10 May, 2024 06:41pm

Europe

Russian forces attack Ukraine’s Kharkiv region, opening new front

KYIV: Russian forces launched an armoured ground attack on Friday near Ukraine’s second city of Kharkiv in the...

Published 10 May, 2024 06:37pm

Commodities

Asia Gold: Sky high prices take shine off Indian gold buying festival

Demand for physical gold was much lower than usual during a key festival in India, the world’s second-biggest...

Published 10 May, 2024 06:28pm

Middle East

Rafah offensive would lead to ‘humanitarian disaster’: UN chief

NAIROBI: An Israeli ground attack in Gaza’s Rafah would lead to an “epic humanitarian disaster”, UN...

Updated 10 May, 2024 06:25pm

Sports

Champion Rybakina, home hope Musetti retire sick from Rome Open

ROME: Rome Open champion Elena Rybakina announced on Friday that she has been forced to retire from this year’s...

Published 10 May, 2024 06:19pm

Cricket

Zimbabwe opt to bowl against Bangladesh in fourth T20

DHAKA: Zimbabwe captain Sikandar Raza won the toss and elected to bowl first in the fourth Twenty20 international...

Published 10 May, 2024 06:15pm

Sports

FIFA deny ‘imposing’ 2025 Club World Cup schedule

PARIS: FIFA on Friday strenuously denied “imposing” its scheduling for the 2025 Club World Cup amid the threat of...

Published 10 May, 2024 06:09pm

Travel

Turkey reopens ancient church with prized mosaics to Muslim worship

ISTANBUL: Turkey has opened the ancient Chora church, one of Istanbul’s most celebrated Byzantine buildings, to...

Published 10 May, 2024 05:50pm

South Asia

India has its own problems with solar power as subsidies for homes face scepticism

NEW DELHI: Lakshmi Narayan was one of the first to see the light: in 2020 the engineer put solar panels on his roof...

Updated 10 May, 2024 06:00pm

Energy

Global LNG: Asian spot LNG prices rise on signs of stronger demand

LONDON: Asian spot liquefied natural gas prices rose this week on stronger demand amid high temperatures in north...

Published 10 May, 2024 05:48pm

Money & Banking

India’s foreign exchange reserves come off seven-week lows

MUMBAI: India’s foreign exchange reserves halted a three-week losing streak and stood at $641.59 billion as of May...

Published 10 May, 2024 05:45pm

Stocks

UAE markets fall on escalating conflict in the region

Stock markets in United Arab Emirates closed lower on Friday, as investors turned cautious after the latest round of...

Published 10 May, 2024 05:41pm

Stocks

Indian shares see worst week since mid-March as volatility, foreign selling weighs

BENGALURU: Indian shares ended higher on Friday, but logged their worst week in eight as concerns over the outcome...

Published 10 May, 2024 05:29pm

Stocks

Sri Lankan shares end higher as consumer staples, financials gain

CSE All Share index settled up 0.98% at 12,518.97

Published 10 May, 2024 05:27pm

Commodities

Aluminium dips on massive delivery to LME

LONDON: Aluminium prices dipped on Friday after the London Metal Exchange (LME) data came in to show an 88% jump in...

Published 10 May, 2024 05:25pm

Commodities

Palm oil logs longest weekly losing streak in more than 6 years

SINGAPORE: Malaysian palm oil futures fell for a third consecutive session to close at a three-month low on Friday,...

Published 10 May, 2024 05:22pm

South Asia

India top court grants temporary bail to opposition leader Kejriwal to campaign in elections

NEW DELHI: India’s top court gave temporary bail to Delhi Chief Minister Arvind Kejriwal in a graft case on Friday,...

Published 10 May, 2024 02:57pm

Stocks

Europe’s STOXX 600 hits record high on earnings, rate cut optimism

Europe’s benchmark stock index hit a record high on Friday, on track for its biggest weekly gain since late January,...

Published 10 May, 2024 02:12pm

Sports

Virat Kohli sweeps aside strike-rate concerns to keep Bengaluru alive

NEW DELHI: Run machine Virat Kohli produced a match-winning knock in the Indian Premier League (IPL) on Thursday...

Published 10 May, 2024 01:46pm

World

Blinken report expected to say Israel is not breaking weapons terms, Axios reports

US Secretary of State Antony Blinken is expected to submit a highly critical report to Congress as soon as Friday on...

Published 10 May, 2024 01:41pm

Commodities

Iron ore set for weekly decline on rising inventory, demand caution

Iron ore futures fell for a third straight session on Friday and on track for a weekly decline, pressured by an...

Published 10 May, 2024 01:39pm

Sports

New Zealand blaster Munro retires from internationals

Colin Munro, a South Africa-born power hitter who smashed a slew of batting records for New Zealand, has retired...

Published 10 May, 2024 01:36pm

Energy

Saudi crude oil supply to China to fall 5.8mn bbls in June from May, sources say

SINGAPORE: Chinese refiners will lift less Saudi crude oil in June than May, people with knowledge of the matter...

Published 10 May, 2024 01:34pm

Europe

France’s Sanofi in COVID-19 vaccine deal with Novavax

PARIS: Sanofi on Friday announced it has reached a licensing agreement with Novavax to sell a stand-alone COVID-19...

Published 10 May, 2024 01:28pm

Sports

Australia goalkeeper Williams to retire after Paris Olympics

MELBOURNE: Australia’s long-serving goalkeeper Lydia Williams will retire from international soccer after the Paris...

Published 10 May, 2024 01:27pm

Mutual Funds

JGB yields rise on weak auction; BOJ rate outlook eyed

TOKYO: Japanese government bond (JGB) yields rose on Friday amid a tepid auction for 30-year bonds, as investors...

Published 10 May, 2024 01:25pm

Technology

Foxconn’s Q1 profit to jump from low base, AI to power growth

TAIPEI: Taiwan’s Foxconn, the world’s largest contract electronics maker, is expected to report on Tuesday that...

Published 10 May, 2024 01:24pm

Companies

Honda sees full-year profit rising 2.8%

TOKYO: Japan’s Honda Motor Co forecast a 2.8% rise in operating profit for this financial year, after it exceeded...

Published 10 May, 2024 01:22pm

Forex

Asian currencies tepid; stocks higher on US rate cut bets

Most Asian currencies were heading for weekly declines on Friday, although largely unchanged, while stocks were...

Published 10 May, 2024 12:39pm

Forex

China’s yuan weakens on new US trade restrictions

SHANGHAI: China’s yuan weakened slightly on Friday, as the reports of more restrictions from Washington on Chinese...

Published 10 May, 2024 12:38pm

Forex

South African rand little changed in early trade

JOHANNESBURG: South Africa’s rand was little changed in early trade on Friday, after gaining some ground the day...

Published 10 May, 2024 12:37pm

Forex

Australia, NZ dollars get a reprieve, still face stiff resistance

SYDNEY: The Australian and New Zealand dollars won a reprieve from selling pressure on Friday after a soft report on...

Published 10 May, 2024 12:35pm

Life & Style

Two new ‘Lord of the Rings’ movies heading to theaters

LOS ANGELES: A fresh installment in the “Lord of the Rings” movie series, one of the biggest film franchises of all...

Published 10 May, 2024 11:59am

Life & Style

Christie’s previews Michael Schumacher watches going up for auction

ZURICH: Auction house Christie’s held a preview event in Geneva on Thursday ahead of its sale of eight watches...

Published 10 May, 2024 11:56am

Sports

Jubilant Madrid visit Granada as Liga relegation battle nears end

BARCELONA: New Spanish champions Real Madrid visit suffering Granada on Saturday with La Liga’s key affairs on the...

Published 10 May, 2024 11:46am

Sports

McIlroy on PGA subcommittee set for direct PIF merger talks

WASHINGTON: Rory McIlroy revealed details on Thursday about a new PGA Tour subcommittee created to conduct direct...

Published 10 May, 2024 11:42am

Stocks

Hong Kong stocks build on gains at open

HONG KONG: Hong Kong shares extended gains Friday on growing optimism for US interest rate cuts following another...

Published 10 May, 2024 11:39am

Asia

Saudi crown prince to visit Japan

TOKYO: Saudi Arabia’s Crown Prince Mohammed bin Salman will visit Japan from May 20 to 23 when he will meet the...

Published 10 May, 2024 11:36am

Asia

Heatstroke kills 61 in Thailand so far this year: govt

BANGKOK: Heatstroke has killed 61 people in Thailand so far this year, more than in all of 2023, the health ministry...

Published 10 May, 2024 11:32am

Commodities

Corn, soybeans gain ahead of USDA supply-demand report

BEIJING: Chicago soybeans and corn firmed on Friday, with wheat following suit ahead of a US Department of...

Published 10 May, 2024 11:18am

Stocks

Asia stocks rally on renewed global rate cut optimism

SINGAPORE: Asian stocks rose on Friday, on course for a third week of gains, while the dollar was on the back foot...

Published 10 May, 2024 11:14am

Europe

Vladimir Putin, seeking continuity, proposes Mishustin remain Russia’s prime minister

Russian President Vladimir Putin proposed the reappointment on Friday of Prime Minister Mikhail Mishustin, a...

Published 10 May, 2024 10:44am

USA

UN General Assembly set to back Palestinian bid for membership

UNITED NATIONS: The United Nations General Assembly on Friday is set to back a Palestinian bid to become a full UN...

Published 10 May, 2024 10:36am

Bullion Rate

Gold set for weekly gain on US rate-cut hopes

Gold prices ticked up on Friday and were on track for a weekly gain, as recent economic data prompted traders to...

Published 10 May, 2024 10:30am

Stocks

Indian shares set for muted open on election jitters

BENGALURU: Indian shares are set to open slightly higher on Friday, after dropping more than 2% so far this week due...

Published 10 May, 2024 10:24am

Stocks

Australian shares gain on fresh Fed rate-cut hopes, on track for best week in 5

Australian shares rose on Friday tracking Wall Street gains overnight, after strong US jobs data boosted renewed...

Published 10 May, 2024 10:22am

Stocks

Japan’s Nikkei rises on boost from earnings, Wall Street gains

TOKYO: Japan’s Nikkei share average rebounded on Friday, buoyed by positive earnings and Wall Street gains...

Published 10 May, 2024 10:21am

Stocks

China stocks slip on geopolitical concerns; Hong Kong up

SHANGHAI: Chinese stocks fell on Friday, as geopolitical concerns dented investor sentiment following a trade...

Published 10 May, 2024 10:20am

Europe

Ukraine’s air force says it destroyed 10 Russia-launched drones

Ukraine’s air defence systems destroyed all 10 attack drones that Russia launched overnight, Ukraine’s air force...

Published 10 May, 2024 10:19am

Forex

Indian rupee flat; oil companies dollar buys, ‘nervous’ equities cap upside

MUMBAI: The Indian rupee was little changed on Friday as dollar demand from local oil companies and tepid sentiment...

Published 10 May, 2024 10:17am

Business & Finance

BOJ likely eyeing steady rate hikes, says ex-central bank executive Maeda

TOKYO: The Bank of Japan will likely raise interest rates again as early as July and keep hiking borrowing costs...

Published 10 May, 2024 10:16am

Commodities

Malaysia end-April palm oil stocks rise 1.85%, MPOB says

KUALA LUMPUR: Malaysia’s palm oil stocks at the end of April rose 1.85% from the previous month to 1.74 million...

Published 10 May, 2024 10:14am

Forex

Dollar nurses losses after another set of soft jobs data

SINGAPORE: The US dollar had a soft tone in early Asian trading on Friday after losing ground overnight to the euro...

Published 10 May, 2024 10:07am

Energy

Govt’s balancing act: incentivise solar, but not too much?

KARACHI: Pakistan’s government has once again been caught in a tight spot. It wants to promote renewable energy –...

Updated 10 May, 2024 09:51am

Q4 of CFY: authorisation of Rs10.056bn approved for Power Division

Authorisation made considering simplified release procedure approved by the ECNEC and release strategy 2023-24 of Finance Division

Updated 10 May, 2024 09:24am

April remittances up 27.9pc to $2.8bn YoY

KARACHI: The inflows of workers’ remittances have increased by 27.9 percent on year-on-year basis to $2.8 billion...

Updated 10 May, 2024 09:23am

KE’s FCA of nine months: Karachi-based businesspeople express their reservations

ISLAMABAD: Business community of Karachi on Thursday expressed serious reservations at the massive proposed...

Updated 10 May, 2024 09:21am

Mid-term pipeline projects: New projects identified, Korean EXIM Bank team told

ISLAMABAD: Minister for Economic Affairs Ahad Khan Cheema has informed the programme mission of the EXIM Bank Korea...

Updated 10 May, 2024 09:19am

Sales tax fraud and fake invoices: Aurangzeb directs FBR to detect cases

ISLAMABAD: Finance Minister Muhammad Aurangzeb has directed the Federal Board of Revenue (FBR) to detect cases of...

Updated 10 May, 2024 09:02am

BR Research

Load-shedding leads to higher adjustments

Another Rs52 billion has been sought by the power distribution companies on account of the quarterly tariff...

Published 10 May, 2024 09:02am

Renewable energy, IT sectors: Dar invites Swiss investment

ISLAMABAD: Foreign Minister Ishaq Dar on Thursday invited Swiss companies to invest in Pakistan, particularly in the...

Updated 10 May, 2024 09:01am

Opinion

Neoliberal economic policy, and political economic outcomes

In a number of interviews after becoming finance minister, there is a sense of naivety reflected in the thoughts of...

Updated 10 May, 2024 09:00am

PM takes serious note of absence of sugar data

ISLAMABAD: Prime Minister Shehbaz Sharif is said to have taken serious note of the absence of requisite data on...

Updated 10 May, 2024 08:59am

BR Research

OGDC – A weaker 3Q

The largest E&P in the country announced its financial performance for 3QFY24 recently where earnings were seen...

Published 10 May, 2024 08:59am

Qatari team lays focus on energy, mining and aviation: FO

ISLAMABAD: Pakistan and Qatar have expressed their resolve to further deepen fraternal ties and enhance trade and...

Updated 10 May, 2024 08:59am

Business & Finance

SBP’s reserves up $1.114bn to $9.120bn

KARACHI: The total liquid foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $1.114...

Updated 10 May, 2024 08:58am

Sales tax on tractors, pesticides likely

ISLAMABAD: The federal government is likely to impose sales tax on tractors as well as pesticides during the...

Updated 10 May, 2024 08:57am

BR Research

Bolan Castings Limited

Bolan Castings Limited (PSX: BCL) was incorporated in Pakistan as a public limited company in 1982. It is a...

Published 10 May, 2024 08:55am

PM seeks Qatari investment

ISLAMABAD: Prime Minister Shehbaz Sharif on Thursday said that Pakistan was keen to transform its excellent ties...

Updated 10 May, 2024 08:41am

BR’s refresher: your morning briefing for the day

Important updates from May 9, 2024

Published 10 May, 2024 08:40am

Business & Finance

IMF to support CCP’s capacity building: Ruiz

ISLAMABAD: Esther Pérez Ruiz, the IMF Resident Representative in Pakistan, visited the Competition Commission of...

Updated 10 May, 2024 04:53am

Opinion

The fault lines of US foreign aid

On 24 April, US President Joe Biden signed the legislation providing $87 billion in aid for Ukraine and Israel, in...