News Archives for Latest - 2024-05-23

Business & Economy

UAE allocates $10bn for investment in Pakistan’s ‘promising economic sectors’

Announcement comes following talks between UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Pakistan Prime Minister Shehbaz Sharif in Abu Dhabi

Updated 24 May, 2024 09:25am

World

Germany's Scholz echoes Macron's call for deeper European military cooperation

FRANKFURT: German Chancellor Olaf Scholz said Europe needs closer military collaboration, and said he also favors ...

Published 23 May, 2024 11:01pm

Europe

Kremlin condemns calls for Kyiv to use US arms in Russia

MOSCOW: Moscow on Thursday attacked "hothead" US lawmakers after mounting calls, including from House Speaker Mike...

Published 23 May, 2024 10:55pm

Business & Economy

‘Not here to seek loans’: Pakistan needs to replicate UAE model of transforming economy, says PM

Premier is on day-long visit with investment pitch on the agenda

Updated 23 May, 2024 10:45pm

Commodities

Gold price per tola plunges Rs6,200 in Pakistan

Gold fell for the third straight session in Pakistan on Thursday, witnessing a significant decrease of Rs6,200 per...

Updated 23 May, 2024 10:34pm

Forex

SBP-held foreign exchange reserves increase $22mn, now stand at $9.16bn

Total liquid foreign reserves held by the country stand at $14.59 billion

Updated 23 May, 2024 10:27pm

Stocks

London stocks fall as political uncertainty, soft economic data weigh

The UK’s main stock indexes closed lower for a third consecutive session on Thursday amid political uncertainty...

Published 23 May, 2024 09:51pm

Stocks

Europe’s STOXX 600 ends flat as rate worries offset AI cheer

European stocks closed flat on Thursday as signs of improving economic activity prompted investors to scale back...

Published 23 May, 2024 09:49pm

Stocks

Boeing shares tumble as company lowers 2024 cash forecast

NEW YORK: Boeing shares were hammered Thursday after a top company official predicted another quarter of meager...

Published 23 May, 2024 09:39pm

Pakistan

Barrister Gohar calls for ‘ceasefire’ in interest of country

Says PTI chairman also expressed willingness to talk

Published 23 May, 2024 09:08pm

Stocks

KSE-100 up 158 points, regains 75,000 level

The Pakistan Stock Exchange’s (PSX) benchmark KSE-100 Index regained the 75,000 level on Thursday as the index...

Updated 23 May, 2024 09:09pm

Currency

Rupee registers some gain against US dollar

Currency settles at 278.3 against the greenback in inter-bank market

Updated 23 May, 2024 09:08pm

Perspectives

Net-metering: turning up the heat on Pakistani people instead of IPPs

As usual, Pakistan finds itself caught in a quagmire when it comes to its energy policy. Never mind that it added...

Published 23 May, 2024 08:39pm

Pakistan

COAS Gen Munir arrives in Germany on official visit

During meetings with the civilian and military leadership matters of mutual interest came under discussion, the military's media wing says

Updated 23 May, 2024 08:15pm

Middle East

Israel warns of ‘serious consequences’ for ties with countries recognising Palestinian state

OCCUPIED JERUSALEM: Israel’s foreign ministry said Thursday that Israel’s ties with Ireland, Norway and Spain will...

Published 23 May, 2024 07:55pm

Stocks

Abu Dhabi index hits 2-year low as Gulf bourses slip on hawkish Fed minutes

Stock markets in the Gulf declined on Thursday, led by the Qatar index, after more hawkish-than-expected minutes of...

Published 23 May, 2024 07:44pm

Pakistan

Mohsin Naqvi directs NADRA to formulate national registration policy

Federal Interior Minister Mohsin Naqvi while presiding over a review meeting regarding the National Database...

Published 23 May, 2024 07:02pm

Sports

Scamacca makes new-look Italy squad for Euro title defence

MILAN: Gianluca Scamacca has played his way into Italy’s provisional squad for Euro 2024 after a phenomenal end to...

Published 23 May, 2024 07:12pm

Stocks

Nasdaq back in record turf after blowout Nvidia results

NEW YORK: Wall Street stocks mostly rose early Thursday following blowout earnings from artificial intelligence...

Published 23 May, 2024 07:08pm

Middle East

Egypt still committed to Gaza truce talks, say sources

CAIRO: Egypt remains committed to helping negotiate a ceasefire and hostage release deal in Gaza despite doubts...

Published 23 May, 2024 07:04pm

Middle East

35,800 Palestinians killed in Gaza offensive since Oct. 7, health ministry says

DUBAI: More than 35,800 Palestinians have been killed and 80,011 have been injured in Israeli military offensive on...

Published 23 May, 2024 06:59pm

Pakistan

Heatwave cancels lessons for half Pakistan’s schoolchildren

LAHORE: Half of Pakistan’s pupils will be shut out of schools for a week as the nation takes crisis measures to...

Published 23 May, 2024 06:48pm

Arts

Erica Robin, Faraz Manan represent Pakistan at Cannes Film Festival 2024

Karachi-based model Erica Robin, who was crowned ‘Miss Universe Pakistan’ in a ceremony held in the Maldives last...

Published 23 May, 2024 06:16pm

Sports

Nadal to face Zverev in opening match of farewell French Open

PARIS: Rafael Nadal was drawn to face world number four Alexander Zverev in a blockbuster opening match at his...

Published 23 May, 2024 06:09pm

BR Research

Imported cotton demand: a threat managed?

Earlier this month, the IMF came under fire for projecting a significantly exaggerated forecast of Pakistan’s trade...

Updated 23 May, 2024 05:53pm

Sports

Swiatek, Osaka in potential French Open 2nd round clash

PARIS: Defending champion Iga Swiatek and fellow four-time Grand Slam title winner Naomi Osaka could clash in the...

Published 23 May, 2024 05:46pm

Middle East

Thousands bid farewell to Iran’s Raisi ahead of burial

TEHRAN: Thousands marched in Iran on Thursday on the final day of funeral rites for president Ebrahim Raisi, who...

Updated 23 May, 2024 05:28pm

Europe

World Court to rule on Friday on measures over Israel’s Rafah aggression

THE HAGUE: The International Court of Justice will rule on Friday on South Africa’s request to order a halt to...

Updated 23 May, 2024 05:26pm

Movies & Music

Palestinian films ‘more important than ever’, directors say in Cannes

CANNES, France: Veteran Palestinian film director Rashid Masharawi was abroad when the Gaza war broke out last year,...

Published 23 May, 2024 05:00pm

Commodities

Asia rice: Buyers favor cheaper Indian variety; Thai rates hover near 3-month high

India’s rice export prices edged higher this week as buyers opted for the relatively cheaper offers from the top...

Published 23 May, 2024 05:07pm

Energy

Oil creeps back up after three days of losses

LONDON: Oil prices crept up on Thursday, clawing back some of the previous three days’ losses despite the U.S....

Updated 23 May, 2024 05:04pm

Forex

Kenyan currency seen stable; Nigeria’s and Zambia’s under pressure

NAIROBI: The Kenyan and Ugandan currencies are forecast to remain relatively stable in the next week to Thursday,...

Published 23 May, 2024 05:00pm

Stocks

Eurozone stocks gain on survey; London firms after election call

LONDON: Eurozone equities advanced Thursday on news of encouraging business activity while London held firm as...

Updated 23 May, 2024 04:59pm

Middle East

Yellen fears ‘humanitarian crisis’ if Israel cuts off Palestinian banks

STRESA: US Treasury Secretary Janet Yellen warned Thursday of the risk of a “humanitarian crisis” if Israel cuts off...

Published 23 May, 2024 04:57pm

Europe

Fatal strikes rock Kharkiv as Russia claims fresh advances

KYIV: Russian strikes on Ukraine’s second-largest city Kharkiv killed at least seven people, authorities said...

Published 23 May, 2024 04:51pm

Europe

Russia says EU will feel ‘full measure’ of retaliation over plan to use frozen assets to help Ukraine

MOSCOW: Russian Foreign Ministry spokeswoman Maria Zakharova said on Thursday that the European Union will feel the...

Published 23 May, 2024 04:49pm

Stocks

Financials power India’s Nifty, Sensex to record closing highs

BENGALURU: India’s blue-chip indexes notched all-time closing highs on Thursday, powered by gains in financial...

Published 23 May, 2024 04:44pm

Commodities

Copper dips for third straight day on profit-taking, weak demand

LONDON: Copper prices fell for a third consecutive session as profit-taking continued on Thursday and consumers...

Published 23 May, 2024 04:40pm

Commodities

Palm rises on weaker Malaysian ringgit, demand hopes

MUMBAI: Malaysian palm oil futures rose on Thursday due to weakness in the Malaysian ringgit and expectations of...

Published 23 May, 2024 04:37pm

South Asia

India police probe suspected murder of Bangladesh lawmaker

KOLKATA: Indian police are working with detectives from neighbouring Bangladesh to investigate the suspected murder...

Published 23 May, 2024 04:18pm

Luxury

New details emerge for Anant Ambani, Radhika Merchant wedding

Couple will host luxury cruise from Italy to southern France

Published 23 May, 2024 03:57pm

Sports

American star Pegula pulls out of French Open

PARIS: World number five Jessica Pegula announced her withdrawal from the French Open on Thursday, saying she had...

Published 23 May, 2024 04:01pm

Middle East

Gaza civil defence says 26 killed in Israeli air strikes

GAZA STRIP: Gaza’s civil defence agency said two pre-dawn Israeli air strikes on Thursday killed 26 people in Gaza...

Published 23 May, 2024 03:59pm

Pakistan

With investment pitch in mind, PM Shehbaz arrives in UAE on day-long visit

Will meet His Highness Sheikh Mohamed bin Zayed, President of the United Arab Emirates and Ruler of Abu Dhabi

Updated 23 May, 2024 03:47pm

Stocks

Most Gulf bourses drop on hawkish Fed minutes

Most stock markets in the Gulf slipped in early trading on Thursday on more hawkish-than-expected minutes of the US...

Published 23 May, 2024 03:00pm

Stocks

Britain’s FTSE 100 dips as general election call, soft economic data weighs

London’s FTSE 100 continued its slide for a third day on Thursday, as Britain began preparations for a general...

Published 23 May, 2024 02:51pm

Sports

Queen of clay Swiatek looking untouchable in Paris

The big question ahead of the French Open is not whether Iga Swiatek will win the women’s singles again but exactly...

Published 23 May, 2024 02:49pm

Europe

Kremlin says Russia will retaliate against Norway’s ‘discriminatory’ ban on Russian tourists

MOSCOW: The Kremlin called plans by Norway to ban entry for most Russian tourists discriminatory and said on...

Published 23 May, 2024 02:48pm

Europe

Kremlin says Putin has had no contact with Trump on reporter’s possible release

MOSCOW: The Kremlin said on Thursday said President Vladimir Putin had not had any contact with Donald Trump, after...

Published 23 May, 2024 02:46pm

Middle East

Ship off Yemen reports missile strike nearby, vessel and crew safe, UKMTO says

DUBAI: A merchant ship off the coast of Yemen reported a missile hitting the water nearby, Britain’s sea trade...

Published 23 May, 2024 02:43pm

Life & Style

In pictures: Bark Air set to launch with $8,000 flights for dogs

Airline will be offering flights on a Gulfstream 550 private jet

Published 23 May, 2024 01:22pm

Life & Style

Disney to sell stake in India’s Tata Play: report

NEW DELHI: The Walt Disney Company has struck a deal to sell its minority stake in an Indian subscription television...

Published 23 May, 2024 12:37pm

Stocks

Hong Kong stocks extend losses at open

HONG KONG: Hong Kong shares fell further at the open on Thursday after minutes from the Federal Reserve’s May policy...

Published 23 May, 2024 12:47pm

Sports

Virat Kohli still hungry and evolving, says Bengaluru coach Flower

AHMEDABAD: An IPL title has eluded Virat Kohli for 17 years, but Royal Challengers Bengaluru coach Andy Flower...

Published 23 May, 2024 12:42pm

Europe

Norway to block entry for most Russian tourists

OSLO: Norway will further restrict access for Russian tourist travellers due to the ongoing war in Ukraine, blocking...

Published 23 May, 2024 12:14pm

USA

Former Republican presidential contender Nikki Haley says she will vote for Trump

WASHINGTON: Former Republican presidential contender Nikki Haley said on Wednesday that she will vote for Donald...

Published 23 May, 2024 12:07pm

Sports

Rajasthan Royals stay alive in IPL, Royal Challengers Bengaluru eliminated

NEW DELHI: Rajasthan Royals accomplished a nervy chase to stay alive in the Indian Premier League (IPL) as they...

Published 23 May, 2024 11:50am

Sports

Yuvraj wants India to avail left-handed variety of Jaiswal and Pant

NEW DELHI: India should use Yashasvi Jaiswal as skipper Rohit Sharma’s opening partner in the T20 World Cup next...

Published 23 May, 2024 11:43am

Sports

Ricky Ponting not in race to be India coach despite being approached

NEW DELHI: Australia great Ricky Ponting was sounded out for the India head coach’s role but the 49-year-old said he...

Published 23 May, 2024 11:36am

Sports

Lookman nets hat-trick as Atalanta stun Leverkusen in Europa League final

DUBLIN: Ademola Lookman scored a stunning hat-trick as Atalanta beat Bayer Leverkusen 3-0 in the Europa League final...

Published 23 May, 2024 11:30am

Business & Finance

Lebanon’s reforms insufficient for recovery, IMF says

Lebanon’s economic reforms are insufficient to help lift the country out of its economic crisis, the International...

Published 23 May, 2024 11:23am

Business & Finance

South Korea holds interest rates steady, as widely expected

SEOUL: South Korea’s central bank extended its interest rate pause for an 11th straight meeting on Thursday as the...

Published 23 May, 2024 11:20am

Business & Finance

Tesla pushes suppliers to produce parts outside of China and Taiwan, Nikkei reports

Tesla has told suppliers for its models sold outside China to start building components and parts outside of both...

Published 23 May, 2024 11:17am

Technology

SingTel annual profit more than halves on $2.3bn impairment charge

Singapore Telecommunications posted a 64% drop in full-year net profit on Thursday hit by a S$3.1 billion ($2.30...

Published 23 May, 2024 11:15am

Companies

Singapore Airlines shares slip 1.3% after turbulent flight

SINGAPORE: Singapore Airlines shares fell more than 1% in early trade on Thursday, following a deadly turbulence-hit...

Published 23 May, 2024 11:13am

USA

US House passes crypto bill despite warnings from SEC

The US House of Representatives on Wednesday passed a bill that aims to create a new legal framework for digital...

Published 23 May, 2024 11:11am

Bidding process for PIA to be aired live: Aleem

Says everyone has contributed to PIA's destruction, no option left but to privatise it

Updated 23 May, 2024 11:01am

Business & Finance

Thailand car production drops 11% y/y in April, domestic sales fall

BANGKOK: Car production in Thailand fell 11.02% in April from a year earlier to 104,667 units, the Federation of...

Published 23 May, 2024 10:57am

Technology

TSMC sees annual sales growth to reach 10% in semiconductor industry

HSINCHU: Taiwanese contract chipmaker TSMC, a major supplier to Apple and Nvidia, on Thursday forecast an annual...

Published 23 May, 2024 10:55am

Europe

Emmanuel Macron arrives in riot-hit New Caledonia for high-stakes talks

SYDNEY/PARIS: President Emmanuel Macron said on Thursday police reinforcements in New Caledonia would remain as long...

Published 23 May, 2024 10:53am

Technology

South Korea announces $19bn support package for chip industry

SEOUL: South Korea announced on Thursday a 26 trillion won ($19 billion) support package for the country’s vital...

Published 23 May, 2024 10:50am

Business & Finance

BHP will not relent on structure, value of $49bn Anglo offer, say sources

PERTH/HONG KONG: BHP will stand firm on the structure and value of its latest takeover proposal for Anglo American,...

Published 23 May, 2024 10:47am

Stocks

Tech stocks lift Japan’s Nikkei on boost from Nvidia’s robust outlook

TOKYO: Japan’s Nikkei share average rose on Thursday led by a rally in technology stocks, after US peer Nvidia’s...

Published 23 May, 2024 10:45am

Commodities

Wheat hovers near 10-month high on Russian crop worries; corn firms

SINGAPORE: Chicago wheat futures climbed on Thursday, with prices trading close to their highest levels in 10 months...

Published 23 May, 2024 10:43am

Stocks

Australian shares drop after hawkish Fed minutes; BHP falls on rejection

Australian shares tracked Wall Street peers to trade lower on Thursday as investors assessed minutes from the US...

Published 23 May, 2024 10:42am

Commodities

Palm rises on weaker Malaysian ringgit, demand hopes

MUMBAI: Malaysian palm oil futures opened higher on Thursday due to weakness in the Malaysian ringgit and...

Published 23 May, 2024 10:40am

Stocks

Indian shares set for a muted start on fading hopes of early US rate cut

BENGALURU: Indian shares are set for a muted open on Thursday, after the Federal Reserve’s latest policy minutes...

Published 23 May, 2024 10:39am

Stocks

China stocks fall on global rate worries, Taiwan tensions

SHANGHAI: China and Hong Kong stocks fell on Thursday, tracking regional markets lower as investors digested the...

Published 23 May, 2024 10:38am

Forex

New Zealand dollar holds ground as RBNZ out-hawks Fed

SYDNEY: The New Zealand currency held its ground on Thursday in the face of a firm US dollar, as an unexpected rise...

Published 23 May, 2024 10:36am

Forex

China’s yuan weakens on hawkish Fed, Taiwan tensions

SHANGHAI: China’s yuan slipped on Thursday to hover near a three-week low, as the dollar firmed following hawkish...

Published 23 May, 2024 10:35am

Energy

Petronas’ flagship Bintulu LNG facility resumes full operations

Malaysian state-run Petronas said on Thursday its liquefied natural gas (LNG) complex in Bintulu was fully restored...

Published 23 May, 2024 10:33am

Commodities

Copper slips on hawkish Fed minutes, weak demand

BEIJING: Copper prices fell on Thursday, dragged down by a stronger US dollar after hawkish minutes of the Federal...

Published 23 May, 2024 10:31am

Stocks

Asia stocks weaken on the patient approach to rate cuts

SINGAPORE: Several key Asian share benchmarks fell on Thursday as markets digested the implications of policymakers...

Published 23 May, 2024 10:30am

Bullion Rate

Gold prices drift lower on hawkish Fed minutes

Gold prices fell for a third straight session on Thursday after minutes from the most recent Federal Reserve meeting...

Published 23 May, 2024 10:29am

South Asia

In India’s heat, Delhi labourers toil in ‘red hot’ conditions

NEW DELHI: Working on a highway project in one of India’s hottest areas this summer, Banwari Singh handles iron bars...

Published 23 May, 2024 10:27am

Technology

China’s Lenovo extends revenue growth streak, beats expectations

HONG KONG: China’s Lenovo Group reported a 9% rise in fourth-quarter revenue to $13.8 billion on Thursday, as the...

Published 23 May, 2024 10:21am

World

At least 4 killed in Mexico after stage collapse at campaign event, local media report

MEXICO CITY: At least four people died and others were injured on Wednesday evening in the northern Mexican state of...

Published 23 May, 2024 10:19am

Forex

Dollar hovers near highest in a week after hawkish Fed minutes

TOKYO: The dollar hovered near a one-week high on Thursday following its best day this month against its major peers...

Published 23 May, 2024 09:50am

Mid-year review: 77pc borrowing for financing fiscal deficit thru domestic sources: MoF

ISLAMABAD: The government has borrowed around 77 percent for financing of federal fiscal deficit through domestic...

Updated 23 May, 2024 09:22am

Govt raises Rs97bn via auction for PIBs

KARACHI: The federal government on Wednesday raised some Rs 97 billion through sale of long-term investment papers....

Updated 23 May, 2024 09:19am

Business & Finance

Budget proposals: OICCI for standardising GST rates and policies

KARACHI: The Overseas Investors Chamber of Commerce and Industry (OICCI) in its taxation proposals for the upcoming...

Updated 23 May, 2024 09:19am

Pakistan

Non-filers: Govt decision to block SIMs still in effect: IHC

ISLAMABAD: The Islamabad High Court (IHC) stated on Wednesday that the decision of the federal government pertaining...

Updated 23 May, 2024 09:18am

Terror attack near Besham: Govt to pay $2.5m compensation to Chinese nationals’ heirs

ISLAMABAD: Pakistan is to pay compensation of about $2.5 million to the heirs of five Chinese nationals who lost...

Updated 23 May, 2024 09:17am

Nandipur and Guddu Power plants: PC has reservations against PD for not sharing info with FAs

ISLAMABAD: The Privatisation Commission has reportedly expressed reservations against the Power Division for not...

Updated 23 May, 2024 09:17am

FBR to issue uniform tax recovery rules in budget

ISLAMABAD: The Federal Board of Revenue (FBR) will issue uniform sales tax, income tax and federal excise recovery...

Updated 23 May, 2024 09:16am

Govt, World Bank working on new CPF programme

ISLAMABAD: World Bank (WB) and Government of Pakistan (GoP) are reportedly working on a new Country Partnership...

Updated 23 May, 2024 08:46am

Cipher case: FIA submits plea to present Lu’s statement

ISLAMABAD: The Federal Investigation Agency (FIA) prosecutor, Wednesday, submitted an application before the...

Updated 23 May, 2024 08:45am

No super tax payable on income falling under FTR: Karachi ATIR

ISLAMABAD: The Appellate Tribunal Inland Revenue (ATIR), Karachi, has declared that no super tax is payable on...

Updated 23 May, 2024 08:45am

BR’s refresher: your morning briefing for the day

Important updates from May 22, 2024

Published 23 May, 2024 08:44am

BR Research

Power sector: The rut, the rot, the riot

April 2024 marked the 7th straight month of electricity generation going down year-on-year. Make it 19 out of the...

Published 23 May, 2024 08:14am

BR Research

Lucky Core Industries Limited

Lucky Core Industries Limited (PSX: LCI) was incorporated in Pakistan as a public limited company as Khewra Soda Ash...

Published 23 May, 2024 08:06am

Business & Finance

Amazon to invest 15.7bn euros in Spain

MADRID: Amazon’s cloud computing division AWS will invest 15.7 billion euros ($17 billion) to expand its data...

Updated 23 May, 2024 06:19am

Opinion

Privatisation of SOEs: a focus on PIA

Pakistan’s economy is confronting numerous challenges like fiscal deficits, low savings, limited investment, low...

Updated 23 May, 2024 05:55am

Opinion

Yes-man democracy

Why all the fuss about dragging Ayub Khan out of his grave just to get at Omar Ayub Khan? The man has every right to...

Updated 23 May, 2024 05:49am

Editorials

Defamation law

EDITORIAL: Of course the Punjab government knew just which conventions and rules it was trampling upon as it...

Updated 23 May, 2024 05:47am

Editorials

GDP growth for the current year

EDITORIAL: Pakistan Bureau of Statistics (PBS) estimated Gross Domestic Product growth rate for the current year at...

Updated 23 May, 2024 05:46am

Opinion

PARTLY FACETIOUS: What actually constitutes defamation?

“So explain the Punjab defamation bill to me.” “An aggrieved person can go to the one-man tribunal, appointed by the...

Updated 23 May, 2024 05:43am

Opinion

Anti-theft campaign — will the latest succeed?

Pakistan leads the way in the incidence of illegal abstraction of energy (theft of electricity in the legal lingo)....

Updated 23 May, 2024 05:41am

Pakistan

The Weather

KARACHI: The weather report on Wednesday (May 22, 2024) and the forecast for Thursday (May 23, 2024)...