News Archives for Latest - 2024-05-17

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Archive - 2024-05-17

Technology

PTA announces 6GHz for unlicensed RLAN operations

ISLAMABAD: The Pakistan Telecommunication Authority (PTA) announced 6 Gigahertz (GHz) spectrum band for unlicensed...

Updated 21 May, 2024 05:24pm

BR Research

Meat exports: tiny earnings, and even tinier players

According to UN Comtrade database, Pakistan’s share in the global meat trade stands at just 0.2 percent. At just...

Updated 20 May, 2024 02:11pm

Pakistan

Punjab govt revises school timings for public, private schools amid heatwave

The Punjab government on Friday announced reduced timings for all public and private schools from May 18 to May 31...

Published 17 May, 2024 10:58pm

World

US military says first aid delivered to Gaza via temporary pier

JERUSALEM: The US military said aid deliveries began Friday via a temporary pier in Gaza aimed at ramping up...

Published 17 May, 2024 10:52pm

World

Israel army says bodies of three hostages recovered in Gaza

JERUSALEM: The Israeli army said Friday that troops had recovered the bodies of three hostages in the war-torn Gaza...

Published 17 May, 2024 10:37pm

South Asia

4 killed, including 3 foreigners, in Afghanistan shooting: government

KABUL: Three foreigners and an Afghan were killed on Friday in a shooting in Bamiyan province in central...

Published 17 May, 2024 10:28pm

Movies & Music

Costner, Gere, Demi Moore: Hollywood icons on Cannes comeback trail

PARIS: This year’s Cannes Film Festival hosts a trio of heartthrobs from the back end of the 20th century, making...

Published 17 May, 2024 10:11pm

Sports

Army chief lauds hockey team’s performance in Azlan Shah Cup

Extends best wishes to players for their future endeavours

Published 17 May, 2024 08:46pm

Middle East

WHO says no medical supplies received in Gaza for 10 days

GENEVA: The World Health Organization said Friday that it has received no medical supplies in the Gaza Strip for 10...

Updated 17 May, 2024 08:47pm

Europe

Spain denied port of call to ship carrying arms to Israel

MADRID: Spain has refused permission for an Israel-bound ship carrying arms to call at the southeastern port of...

Updated 17 May, 2024 08:45pm

South Asia

Iran arrests over 250 in raid on ‘satanist network’

TEHRAN: Iranian police announced Friday they arrested more than 250 people including three foreigners over promoting...

Updated 17 May, 2024 08:45pm

Business & Economy

Chinese firm keen to invest in Pakistan’s mineral sector, says Islamabad

Interest expressed by Chairman of MCC Tongsin Resources Wang Jicheng during a meeting with Prime Minister Shehbaz Sharif, according to information ministry

Updated 17 May, 2024 08:40pm

Stocks

Another day, another record: KSE-100 closes above 75,000 as buying spree continues

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 hit a fresh peak on Friday as it closed above 75,000 for the...

Published 17 May, 2024 07:43pm

Forex

Rupee registers some gain against US dollar

Currency settles at 278.21 against greenback in inter-bank market

Updated 17 May, 2024 07:52pm

Business & Economy

Pakistan’s current account posts surplus of $491mn in April 2024

Overall, during 10 months of ongoing fiscal year, current account balance stands at deficit of $202mn

Updated 17 May, 2024 07:43pm

Stocks

Wall St muted with weekly gains in sight on rate-cut hopes

Wall Street’s main indexes were largely flat in early trading on Friday as investors took a breather from the week’s...

Published 17 May, 2024 07:31pm

Industry

PIA privatisation: Fly Jinnah, Air Blue among 8 entities that submit Statement of Qualifications

The Ministry of Privatisation said that it has received Statement of Qualifications from eight entities after the...

Published 17 May, 2024 07:22pm

Energy

Global LNG: Asian spot LNG edges up as hot weather spurs demand

SINGAPORE: Asian spot liquefied natural gas (LNG) prices rose this week to its highest levels since January, as hot...

Published 17 May, 2024 06:58pm

Forex

Highest since Sept 2018: Pakistan’s REER index increases further to 104.51 in April 2024

Pakistan’s Real Effective Exchange Rate (REER), a measure of the value of a currency against a weighted average of...

Published 17 May, 2024 06:27pm

Money & Banking

India’s foreign exchange reserves rise for second week

MUMBAI: India’s foreign exchange reserves rose for a second consecutive week and stood at an over one-month high of...

Published 17 May, 2024 06:14pm

Energy

Oil heads for weekly gain on hopes of firmer demand

LONDON: Oil steadied on Friday, with global benchmark Brent heading for its first weekly gain in three weeks, as...

Updated 17 May, 2024 05:55pm

Business & Economy

PBC calls for the removal of 1% CVT on foreign assets

The Pakistan Business Council (PBC), the country’s largest corporate sector advocacy platform, has called for the...

Updated 17 May, 2024 05:55pm

Stocks

UAE stock markets mixed amid uncertainty over Fed policy

Stock markets in the United Arab Emirates were mixed on Friday amid uncertainty over the U.S. Federal Reserve’s...

Published 17 May, 2024 05:51pm

Middle East

Saudi crown prince seeks soft power in game hub Japan

TOKYO: Crown Prince Mohammed bin Salman visits Japan next week, where he will hold talks on energy while hunting...

Published 17 May, 2024 05:43pm

Europe

Russia attacked Kharkiv region to stop shelling: Putin

BEIJING: Russia launched a ground assault into Ukraine’s northeast last week to stop cross-border shelling, but has...

Published 17 May, 2024 05:25pm

South Asia

Putin in trade push on final day of China trip

BEIJING: Russian leader Vladimir Putin was in the northeastern city of Harbin on Friday, the final day of a visit...

Published 17 May, 2024 05:22pm

Companies

PayFast goes live with Raast P2M Payments

PayFast, Pakistan’s leading and commercially licensed payment service provider (PSP), has achieved another milestone...

Updated 17 May, 2024 05:20pm

Movies & Music

Bollywood star Aishwarya Rai Bachchan attends Cannes Film Festival

Walks red carpet for Frances Ford Coppola's 'Megalopolis'

Published 17 May, 2024 05:06pm

Business & Finance

PML-N’s Ali Pervez takes oath as Minister of State

Pakistan Muslim League-Nawaz (PML-N) leader Ali Pervez took oath on Friday as the Minister of State. President Asif...

Updated 17 May, 2024 05:13pm

Money & Banking

SBP gives go-ahead for due diligence of Bank Alfalah Bangladesh to Bank Asia

Bank Alfalah intends to sell its operations in Bangladesh to Bank Asia

Updated 17 May, 2024 05:13pm

Commodities

Asia gold: Dealers lower rates for physical purchases as high prices bite

An uptick in gold prices this week deterred physical purchases in top consumers, prompting dealers to offer lower...

Published 17 May, 2024 05:09pm

Markets

OGDC sees significant boost in oil production at KPK well

Oil and Gas Development Company Limited (OGDC) has registered a significant increase in oil production from Nashpa...

Updated 17 May, 2024 04:46pm

Stocks

Indian blue-chips post best week in over 3 months led by metals

BENGALURU: India’s blue-chip stock indexes logged their best week since early February on Friday, led by metal...

Published 17 May, 2024 04:35pm

Commodities

Nickel, copper surge to multi-month highs on New Caledonia, China

LONDON: Nickel prices jumped to the strongest in nine months on Friday on unrest in nickel producer New Caledonia,...

Published 17 May, 2024 04:31pm

Commodities

Palm oil ends higher tracking rival oils, logs 2% weekly gain

JAKARTA: Malaysian palm oil futures closed higher and recorded a weekly gain on Friday, tracking the strength in...

Published 17 May, 2024 04:29pm

Pakistan

SC issues notices to Faisal Vawda, Mustafa Kamal

SC conducts hearing on suo motu notice taken against Vawda's press conference against judiciary

Updated 17 May, 2024 04:22pm

Energy

Going green: Thatta Cement to generate 8.3MW of renewable energy

Thatta Cement Company Limited became the latest company to move towards expanding renewable sources as the listed...

Published 17 May, 2024 03:46pm

Middle East

Israel strikes on Lebanon kill three, says source close to Hezbollah

BEIRUT: Israeli air strikes on Friday hit an area of southern Lebanon far from the border, Lebanese official media...

Published 17 May, 2024 03:34pm

Bullion Rate

Gold price per tola falls Rs600 in Pakistan

After registering back-to-back gains in the previous two sessions, gold prices registered a marginal decline in...

Published 17 May, 2024 02:52pm

Movies & Music

After decades, Francis Ford Coppola’s opus ‘Megalopolis’ finally debuts at Cannes

CANNES: Legendary director Francis Ford Coppola closed a decades-in-the-making chapter of his long career on...

Published 17 May, 2024 02:42pm

Stocks

European shares fall as tech, industrials weigh; rate cut doubts loom

European shares dropped on Friday, dragged by declines in technology and industrials stocks, with investors looking...

Published 17 May, 2024 02:08pm

Middle East

Israel moves into north Gaza Hamas stronghold, pounds Rafah without advancing

CAIRO/OCCUPIED JERUSALEM: Israel’s tanks pushed into the heart of Jabalia in northern Gaza on Thursday, facing...

Published 17 May, 2024 02:01pm

Middle East

Aid trucks begin moving ashore via Gaza pier, US says

DUBAI: The U.S. Central Command said on Friday that trucks carrying humanitarian assistance began moving ashore via...

Published 17 May, 2024 01:46pm

World

Elon Musk confirms Twitter has become X.com

PARIS: The social network formerly known as Twitter has fully migrated over to X.com, owner Elon Musk said on...

Published 17 May, 2024 01:40pm

Commodities

South Korea’s KFA tenders for up to 69,000 T corn, traders say

HAMBURG: South Korea’s Korea Feed Association (KFA) has issued an international tender to purchase up to 69,000...

Published 17 May, 2024 01:36pm

Europe

Slovak PM Fico between life and death after shooting, Hungary PM says

BUDAPEST: Slovakia’s Prime Minister Robert Fico is between life and death two days after an assassination attempt...

Published 17 May, 2024 01:33pm

Arts

Portraits of British royals from last 100 years on show in new London exhibit

LONDON: From Andy Warhol’s colourful depiction of Queen Elizabeth II to Cecil Beaton’s pictures of her sister...

Published 17 May, 2024 01:32pm

Commodities

China’s April coal output falls to lowest level since Oct 2022

BEIJING: China’s coal production in April fell to its lowest level since Oct 2022, statistics bureau data and...

Published 17 May, 2024 01:28pm

Sports

Man Utd Luke Shaw’s injury ‘more complicated’, says Ten Hag

Manchester United defender Luke Shaw’s injury is more complicated than previously thought, manager Erik ten Hag said...

Published 17 May, 2024 01:26pm

Life & Style

India’s butter chicken battle heats up with new evidence

NEW DELHI: With new photographic and video evidence, an Indian court battle over the origins of the world famous...

Published 17 May, 2024 01:21pm

Public debt soars to Rs39.7trn, NA told

ISLAMABAD: The external debt was recorded at $86.36 billion and domestic debt was recorded at Rs39.7 trillion of the...

Updated 17 May, 2024 12:39pm

Mutual Funds

Euro zone yields rise after ECB’s Schnabel cautious on rate cuts beyond June

Euro zone sovereign bond yields rose on Friday after European Central Bank (ECB) board member Isabel Schnabel said...

Published 17 May, 2024 12:35pm

Stocks

London stocks lacklustre but set for weekly gains

The UK’s benchmark index FTSE 100 was flat on Friday as gains in the personal goods sector were offset by losses in...

Published 17 May, 2024 12:31pm

Asia

North Korea fires multiple short-range ballistic missiles, Seoul says

SEOUL: North Korea fired multiple short-range ballistic missile towards the sea off its east coast on Friday, South...

Published 17 May, 2024 12:29pm

Companies

HABIBMETRO organises roadshow on economic insights

HABIBMETRO organised its Economic Insights Treasury Roadshow: ‘Changing Dynamics of Pakistan’s Economy Amidst a...

Published 17 May, 2024 12:29pm

Sports

Jurgen Klopp leaves lasting legacy after restoring Liverpool to elite

LIVERPOOL: Jurgen Klopp will leave Anfield on Sunday as a living legend, having restored Liverpool to the elite of...

Published 17 May, 2024 12:18pm

South Asia

‘Hindu nation’: Religion trumps caste in India vote

AGRA: Born at the bottom of the Hindu faith’s rigid caste system, voters like Anil Sonkar will determine whether...

Published 17 May, 2024 12:13pm

Europe

Israel to hit back at ‘genocide’ claims at UN top court

THE HAGUE: Israel will on Friday hit back in the United Nations’ top court at allegations from South Africa that it...

Published 17 May, 2024 11:59am

Europe

IEA warns of key energy mineral shortage risk

PARIS: The sharp drop in prices for minerals critical to the green energy transition is masking a looming shortage...

Published 17 May, 2024 11:53am

Europe

Ukrainian drone killed mother and child, Russia says

MOSCOW: A Ukrainian drone struck a family driving near the border in Russia’s Belgorod region on Friday, killing a...

Published 17 May, 2024 11:48am

Technology

Reddit gives OpenAI access to its wealth of posts

SAN FRANCISCO: OpenAI will have access to Reddit data for training its artificial intelligence models and will put...

Published 17 May, 2024 11:46am

Immovable properties: Hike in advance tax on purchase likely

Taxation on real estate discussed during ongoing meetings between FBR and IMF

Updated 17 May, 2024 11:39am

Sports

FIFA chooses Brazil to host 2027 Women’s World Cup

BANGKOK: Brazil on Friday won the right to host the 2027 Women’s World Cup, beating a joint...

Published 17 May, 2024 11:32am

Technology

Google seeks non-jury trial in US ad tech lawsuit, filing says

WASHINGTON: Alphabet’s Google in a court filing on Thursday is seeking a non-jury trial in the US Justice...

Published 17 May, 2024 11:19am

Sports

Dazzling eagle gets Scheffler on right track at PGA Championship

Scottie Scheffler sent the crowd into a frenzy as he holed out for an eagle to start his PGA Championship campaign...

Published 17 May, 2024 11:16am

Real Estate

Chinese property developer Country Garden’s Hong Kong liquidation hearing adjourned

HONG KONG: A Hong Kong court adjourned to June 11 a hearing of a petition on Friday seeking liquidation of Country...

Published 17 May, 2024 11:11am

Stocks

Asian stocks ease on uncertainty over timing of US rate cuts

SINGAPORE: Asian stocks inched lower on Friday as traders pondered the near term US monetary policy path after...

Published 17 May, 2024 11:09am

Mutual Funds

JGB yields track US peers higher; BOJ refrains from further purchase cuts

TOKYO: Japanese government bond yields rose on Friday, tracking an overnight advance in US yields, even as the Bank...

Published 17 May, 2024 11:05am

Forex

Indian rupee to focus on recovery in dollar index, flows

MUMBAI: The Indian rupee is expected to hold a narrow range on Friday on a recovery in the dollar index post the US...

Published 17 May, 2024 11:02am

Commodities

Palm oil tracks Dalian futures higher, set for weekly gain

JAKARTA: Malaysian palm oil futures opened higher on Friday, and were poised for a weekly gain, as traders tracked...

Published 17 May, 2024 10:59am

Asia

Vladimir Putin to push growing Moscow-Beijing trade in China’s northeast

BEIJING: After sealing pledges of a “new era” of strategic partnership with China’s Xi Jinping, Russian President...

Published 17 May, 2024 10:53am

Commodities

China April aluminium output grows as prices rise

BEIJING: China’s primary aluminium production in April rose 7.2% from a year earlier, official data showed on...

Published 17 May, 2024 10:49am

Commodities

Wheat rises on Russian crop woes, but US production outlook limits gains

SINGAPORE: Chicago wheat rose on Friday, after climbing earlier this week to a nearly 10-month high, with concerns...

Published 17 May, 2024 10:45am

PM for implementation of ‘understanding’ with AJK

Prime Minister Shehbaz Sharif on Thursday said that the progress of Pakistan and Azad Jammu and Kashmir was linked...

Updated 17 May, 2024 10:44am

Business & Finance

Malaysia’s economy grows 4.2% y/y in Q1, beats forecast

KUALA LUMPUR: Malaysia’s economy grew 4.2% in the first quarter of 2024 from a year earlier, beating market...

Published 17 May, 2024 10:40am

Forex

China’s yuan weakens as dollar rebounds, disappointing data weighs

HONG KONG: China’s yuan eased on Friday as the US dollar rebounded and a flurry of domestic data pointed to weaker...

Published 17 May, 2024 10:38am

Mutual Funds

Indian bond yields flattish as traders eye debt supply

MUMBAI: Indian government bond yields were largely unchanged in the early session on Friday as market participants...

Published 17 May, 2024 10:31am

Business & Finance

ECB’s Schnabel calls for caution in rate cuts beyond June, Nikkei reports

TOKYO: European Central Bank (ECB) board member Isabel Schnabel said the central bank may slash interest rates in...

Published 17 May, 2024 10:27am

Sports

Pain-free Sabalenka keeps close eye on back injury before French Open

World number two Aryna Sabalenka said she is playing without pain following a lower back injury in Rome but will not...

Published 17 May, 2024 10:25am

Stocks

China stock edge down as property, consumer data disappoints; HK higher

HONG KONG: China stocks struggled for direction on Friday and inched lower by midday as a slew of domestic data...

Published 17 May, 2024 10:22am

Commodities

Iron ore heads for weekly gain on China’s property stimulus efforts

BEIJING: Iron ore futures extended gains on Friday and were on track for a weekly gain, supported by resilient...

Published 17 May, 2024 10:19am

Bullion Rate

Gold prices set for second weekly gain on Fed rate-cut optimism

Gold prices appeared set for a second consecutive weekly gain on Friday, after recent US inflation data fuelled...

Published 17 May, 2024 10:15am

Stocks

Japan’s Nikkei skids on Wall Street weakness and BOJ policy uncertainty

TOKYO: Japan’s Nikkei share average retreated on Friday, tracking Wall Street’s weak finish overnight, with...

Published 17 May, 2024 10:13am

Forex

Australia, NZ dollars fight to hold new range, China data a drag

SYDNEY: The Australian and New Zealand dollars were looking to lock into a new higher trading range on Friday after...

Published 17 May, 2024 10:10am

Stocks

Australia shares retreat as banks, technology, healthcare stocks drag

Australian shares slipped on Friday, tracking overnight fall in Wall Street and snapping a two-day winning streak,...

Published 17 May, 2024 10:08am

Stocks

Indian shares to open muted as global stocks rally loses steam

BENGALURU: Indian shares are set for a muted start on Friday, after logging their best day in over two weeks in the...

Published 17 May, 2024 10:06am

Forex

Dollar set for weekly drop on US slowdown signs

SINGAPORE: The dollar headed for its largest weekly fall versus the euro in two-and-a-half months on Friday as signs...

Published 17 May, 2024 10:03am

Borrowings, mark-up payments: Policy rate hike pushed up FY23 cost

The expenditure on mark-up payments was Rs5,696 billion in fiscal year 2022-23 against Rs3,950 billion estimated in the budget

Updated 17 May, 2024 09:44am

Finally, PM reaches out to Kashmiris

MUZAFFARABAD: Prime Minister Shehbaz Sharif on Thursday said that no so-called legislation or court verdicts could...

Updated 17 May, 2024 09:32am

BR Research

LSM: Revival will be painfully slow

For the fourth month running, LSM reading recorded a positive year-on-year growth, as March 2024 LSM grew 2 percent...

Published 17 May, 2024 09:30am

Petroleum leases, licences: Ex-SAPM’s order cost exchequer Rs1.2bn: AGP

ISLAMABAD: The Auditor General for Pakistan (AGP) has pointed out that due to the interference of the former Special...

Updated 17 May, 2024 09:27am

Govt intends to convert 3 imported coal-run power plants to Thar coal

ISLAMABAD: The government intends to convert three plants running on imported coal to Thar coal after taking Chinese...

Updated 17 May, 2024 09:24am

BR Research

Interview with Zain Ibrahim, Regional Director - Middle East, Africa, South Asia for the Society of Actuaries (SOA)

‘SOA paves the way for Pakistani actuaries to play a leading role in the nation’s economic growth’ Zain Ibrahim,...

Published 17 May, 2024 09:22am

Exchange rate adjustment: Ogra endorses PSO’s claim

ISLAMABAD: The Oil and Gas Regulatory Authority (OGRA) has endorsed Pakistan State Oil’s claim for an exchange rate...

Updated 17 May, 2024 09:11am

High-quality B&R cooperation: Pakistan, China agree to deepen Beijing’s steps

ISLAMABAD: Pakistan and China have agreed to deepen and substantiate Beijing’s eight major steps to support...

Updated 17 May, 2024 09:08am

FATA, PATA regions: No law under study to grant tax relief: Aurangzeb

ISLAMABAD: Federal Minister for Finance Senator Muhammad Aurangzeb said there is no legislation under government...

Updated 17 May, 2024 09:07am

MoF asked to make CPEC SEZs tax-free

ISLAMABAD: The federal cabinet has directed Finance Ministry to clear dividends owed to Chinese firms operating in...

Updated 17 May, 2024 09:05am

BR’s refresher: your morning briefing for the day

Important updates from May 16, 2024

Published 17 May, 2024 08:40am

Opinion

Pakistan’s economic crossroads

The socialist idea of central planning, which leads to a closed economy, has been followed by neoliberalism and...

Updated 17 May, 2024 06:12am

Opinion

Fundamental reforms for survival

Pakistan is persistently confronting economic challenges, the resolution of which hinge on IMF’s new programme,...