News Archives for Latest - 2024-05-24

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Archive - 2024-05-24

Opinion

Primary surplus, fiscal deficit, over-board austerity policy, and existential threats

International Monetary Fund (IMF) wishes government to have primary surplus, which means that before paying interest...

Updated 27 May, 2024 07:12pm

Europe

NATO members bordering Russia to build ‘drone wall’

VILNIUS: Lithuania said Friday that the Baltic state and five other NATO members neighbouring Russia had agreed to...

Published 24 May, 2024 11:46pm

World

Egypt’s Sisi agrees to let UN aid through key Gaza crossing: US

WASHINGTON: Egyptian President Abdel Fattah al-Sisi agreed in a call Friday with his US counterpart Joe Biden to...

Published 24 May, 2024 11:41pm

Energy

Mineral exploration licence: PPL enters into JVA with Degan Exploration Works

PPL is expanding its mining portfolio to develop the mineral resources

Updated 24 May, 2024 11:29pm

Many zero-rated items: FBR proposes standard rate of 18pc sales tax

ISLAMABAD: The Federal Board of Revenue (FBR) has proposed a standard rate of 18 percent sales tax on a wide range...

Updated 24 May, 2024 11:29pm

Pakistan

PM Shehbaz lauds Ireland’s decision to recognise Palestine as independent state

Prime Minister Shehbaz Sharif on Friday praised the government of Ireland’s recent decision to recognize Palestine...

Published 24 May, 2024 11:02pm

Pakistan

In unusual move, KP assembly presents FY25 budget before centre

Provincial government proposes a surplus budget of Rs1,754 billion for FY25

Updated 24 May, 2024 11:00pm

Stocks

KSE-100 closes shy of 76,000 after gaining on UAE’s announcement, ‘progress’ on IMF front

Benchmark index increases 869 points as investors rejoice $10bn investment pledge, statement by IMF mission

Updated 24 May, 2024 10:52pm

World

UN says only 906 aid truckloads reached Gaza since Israel’s Rafah operation began

NEW YORK: Aid access to the Gaza Strip is extremely limited with less than 1,000 truckloads of humanitarian...

Published 24 May, 2024 10:42pm

Middle East

In landmark ruling, ICJ orders Israel to ‘immediately halt’ offensive in Rafah

Development likely to increase mounting international pressure on Israel

Updated 24 May, 2024 10:31pm

Cricket

Pakistan announce 15-member T20 World Cup squad

Greenshirts to face USA in the opening game on June 6

Updated 24 May, 2024 09:29pm

Technology

Japanese dog of ‘Doge’ meme fame dies

TOKYO: The Japanese dog whose photo inspired a generation of oddball online jokes and the $23-billion Dogecoin...

Published 24 May, 2024 08:43pm

Stocks

Wall St rises; Dow and S&P 500 set for weekly fall on inflation worries

US stock indexes opened higher on Friday, but the blue-chip Dow and the benchmark S&P 500 were set to snap four...

Published 24 May, 2024 08:37pm

Sports

Shahid Afridi joins roster of ambassadors for T20 World Cup 2024

The International Cricket Council (ICC) on Friday announced former Pakistan all-rounder Shahid Afridi as the latest...

Published 24 May, 2024 08:32pm

Stocks

UAE markets track oil prices lower

Stocks in the United Arab Emirates declined on Friday, pressured by losses in crude prices as strong U.S. and German...

Published 24 May, 2024 08:30pm

Energy

At JCC meeting, Pakistan seeks Chinese assistance in key energy projects

Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal sought Chinese assistance for the...

Updated 24 May, 2024 08:29pm

Business & Finance

Budget 2024-25: Extra taxation will be avoided, FBR assures juice industry

ISLAMABAD: The Federal Board of Revenue (FBR) has assured the formal packaged juice industry that the government...

Updated 24 May, 2024 07:45pm

Money & Banking

India’s foreign exchange reserves hit record high at $648.70 billion

MUMBAI: India’s foreign exchange reserves rose for a third consecutive week and hit a record high of $648.70 billion...

Updated 24 May, 2024 07:38pm

Middle East

South Africa hails World Court order on Israel’s Rafah assault

JOHANNESBURG: South Africa’s international relations department on Friday hailed as ground-breaking a ruling by the...

Published 24 May, 2024 07:33pm

Currency

Rupee marginally gains against US dollar

Currency settles at 278.21 against the greenback in inter-bank market

Updated 24 May, 2024 07:31pm

Europe

Putin visit to North Korea ‘being prepared’

MOSCOW: A visit by Russian President Vladimir Putin to North Korea is “being prepared”, the Kremlin told the...

Published 24 May, 2024 06:52pm

Movies & Music

Model Bella Hadid makes a statement, steps out in Keffiyeh dress in Cannes

Model, who is of Palestinian descent, has already spoken out against Israeli aggression in Gaza

Published 24 May, 2024 06:33pm

Middle East

There’s no warrant, says Germany’s Scholz when asked about arresting Netanyahu

Chancellor Olaf Scholz declined to speculate on whether Germany would execute an International Criminal Court arrest...

Published 24 May, 2024 06:08pm

Commodities

Copper slips on interest rate worries, lacklustre demand in China

LONDON: Copper prices edged lower on Friday as worries about higher interest rates and soft physical demand in China...

Published 24 May, 2024 05:55pm

Energy

Oil holds steady around three-month lows

LONDON: Oil prices were stable on Friday but poised to show a weekly loss under pressure from lingering concerns...

Updated 24 May, 2024 05:50pm

South Asia

Iran denies foul play in Raisi helicopter crash

TEHRAN: Iran’s army has so far found no evidence of criminal activity in a helicopter crash that killed the...

Published 24 May, 2024 05:42pm

Europe

UK police arrest 16 at Oxford University pro-Palestinian protest

LONDON: UK police have arrested 16 people at a protest organised by a pro-Palestinian student group at Oxford...

Updated 24 May, 2024 05:36pm

USA

CIA chief Burns to visit Paris to revive talks on Gaza

WASHINGTON: US intelligence chief Bill Burns is expected to hold talks in Paris with representatives of Israel in a...

Published 24 May, 2024 05:30pm

Movies & Music

Humaima Malick, Shaan Shahid set to feature in patriotic spy thriller

Actors Shaan Shahid and Humaima Malick are all set to unite for an upcoming spy movie, ‘Red, White, and Green’, it...

Published 24 May, 2024 05:26pm

Sports

Barcelona bribery charges quashed in referee corruption case

BARCELONA: A Spanish court quashed bribery charges against Barcelona on Friday relating to a refereeing corruption...

Published 24 May, 2024 05:20pm

Europe

France ‘determined’ to progress at G7 on global wealth tax

STRESA: France’s finance minister said Friday he was “determined” to advance on a global wealth tax, despite...

Published 24 May, 2024 05:14pm

Commodities

Asia Gold: Price dip fails to spur India retail demand; China premiums dip

Gold demand in India slightly improved this week after prices corrected from a record high but retail purchases...

Published 24 May, 2024 04:52pm

Stocks

Indian blue-chips post best week in nearly three months, led by financials, metals

BENGALURU: Indian benchmarks ended flat on Friday, but logged their best week since early February, driven by gains...

Published 24 May, 2024 04:42pm

Commodities

Palm oil erases early gains to end lower on rising output

MUMBAI: Malaysian palm oil futures erased early gains to end lower on Friday as a recovery in production offset the...

Published 24 May, 2024 04:39pm

Markets

UAE conglomerate enters into ‘strategic partnership’ with TPL Trakker

Gargash Group will be acquiring 50.1% stake in Trakker Middle East Limited

Updated 24 May, 2024 03:49pm

Travel

Qatar Airways adds world’s first Gulfstream G700 aircraft to fleet

It will begin commercial service in June

Published 24 May, 2024 03:42pm

Commodities

Gold price per tola falls Rs1,800 in Pakistan

Gold prices in Pakistan decreased further by Rs1,800 per tola on Friday, extending a downtrend for the fourth...

Published 24 May, 2024 03:11pm

Europe

Avoid trade war with China, says France’s finance minister at G7

STRESA: France’s Finance Minister Bruno Le Maire said Friday the G7 must provide a “united front” against Chinese...

Published 24 May, 2024 03:08pm

Business & Economy

IMF, Pakistan make ‘significant progress’ towards staff-level agreement, lender says

Pakistan's reform programme also broadly outlined in statement

Updated 24 May, 2024 03:04pm

Movies & Music

India comes to Cannes despite challenges for indie films

CANNES, France: India’s arthouse cinema is having its moment in the sun with several films competing in Cannes,...

Published 24 May, 2024 02:58pm

Third-party projects under CPEC: PM orders MoFA to finalise modalities in a week

The PM is scheduled to visit China before presentation of federal budget 2024-25

Updated 24 May, 2024 02:29pm

Nepra questions 25pc proposed hike in ‘PPP’

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) on Thursday raised questions on the proposed...

Updated 24 May, 2024 02:29pm

14-seater sightseeing bus: 30pc duty on electric vehicle import imposed

ISLAMABAD: The Customs Classification Committee of the Federal Board of Revenue (FBR) has imposed 30 percent customs...

Updated 24 May, 2024 02:28pm

Dasu Hydropower project: ECC approves compensations for Chinese victims

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved a compensation package of US$2.58...

Updated 24 May, 2024 02:28pm

Movies & Music

Cher, Demi Moore entertain guests at glamorous Cannes fundraiser for AIDS

CANNES, France: From Cher to Demi Moore and Magic Johnson, the fashion and entertainment industry’s biggest names...

Published 24 May, 2024 02:00pm

Stocks

European stocks set for worst drop in five weeks as rate worries resurface

European stocks lost ground on Friday, set for their biggest percentage drop in more than five weeks, as signs of...

Published 24 May, 2024 01:46pm

Stocks

British equities drop as interest rate outlook weighs

London stocks fell nearly 1% on Friday, tracking losses in Asian markets after robust US economic data spurred...

Published 24 May, 2024 01:44pm

Europe

EU’s Borrell says recognising Palestine is not a gift to Hamas

MADRID: European Union’s foreign policy chief Josep Borrell said Friday said that recognising a Palestinian state...

Published 24 May, 2024 01:42pm

Commodities

French wheat rating slips, maize sowing slows as rain returns

The condition of French soft wheat declined slightly last week to remain at a four-year low while maize planting...

Published 24 May, 2024 01:38pm

Forex

Sterling holds near two-month highs in volatile week

LONDON: The pound eased on Friday after data showed wet weather hit UK consumer spending far more than expected in...

Published 24 May, 2024 01:35pm

Stocks

China stocks fall on US rate concerns, Taiwan tensions

SHANGHAI: China stocks fell on Friday, tracking global markets lower as strong US economic data overnight bolstered...

Published 24 May, 2024 01:32pm

Forex

China’s yuan weakens on strong dollar, Taiwan tensions

SHANGHAI: China’s yuan weakened to a near one-month-low on Friday, pressured by dollar strength following strong US...

Published 24 May, 2024 01:30pm

Commodities

Copper eases in London as investors reassess recent rally

Copper prices dipped in London on Friday, as traders and investors reassessed the sustainability of a recent rally...

Published 24 May, 2024 01:27pm

Sports

Brandon King leads West Indies to 28-run win over South Africa

KINGSTON: Stand-in captain Brandon King made 79 as West Indies defeated South Africa by 28 runs in the first Twenty...

Published 24 May, 2024 12:24pm

Sports

Kylian Mbappe to bring curtain down on PSG career in French Cup final

LILLE: Kylian Mbappe will bring the curtain down on his Paris Saint-Germain career on Saturday and has the chance to...

Published 24 May, 2024 12:16pm

Business & Finance

Japan inflation slows to 2.2% in April

TOKYO: The pace of Japanese inflation slowed in April to 2.2 percent as gas bills fell, government data showed...

Published 24 May, 2024 12:12pm

Sports

Ten Hag faces Man Utd judgement day as Man City eye history in FA Cup final

LONDON: Manchester United manager Erik ten Hag hopes to bolster his chances of avoiding the sack by ruining...

Published 24 May, 2024 12:10pm

Stocks

Hong Kong stocks fall further at open

HONG KONG: Hong Kong stocks extended losses into a fourth straight day Friday as traders tracked a selloff on Wall...

Published 24 May, 2024 12:06pm

Sports

Whitecaps tell fans not to expect Messi for Miami MLS clash

MIAMI: Hosts Vancouver Whitecaps warned eager fans the club don’t expect Inter Miami superstar Lionel Messi to be...

Published 24 May, 2024 12:03pm

Europe

Four dead, 21 injured in Spain restaurant roof collapse

PALMA: The roof of a restaurant in Spain’s popular tourist island of Mallorca collapsed on Thursday, killing four...

Published 24 May, 2024 12:00pm

Business & Finance

Palestinian Authority risks fiscal collapse: World Bank

WASHINGTON: The Palestinian Authority is facing the possibility of financial collapse, the World Bank said in a...

Published 24 May, 2024 11:54am

South Asia

Mines, unexploded ordnance a daily menace for Afghanistan’s children

GHAZNI: The black mushroom cloud had barely faded in Ghazni province before kids clustered around the edge of the...

Published 24 May, 2024 11:45am

Asia

Large apartment fire in central Hanoi kills 14 people

HANOI: A fire ripped through an apartment complex in central Hanoi early Friday, killing 14 people and injuring...

Published 24 May, 2024 11:10am

Stocks

Asian stocks fall, dollar rise as rate cut wagers waver

SINGAPORE: Asian stocks fell on Friday, while the dollar advanced as strong US economic data bolstered the prospect...

Published 24 May, 2024 10:30am

Europe

World Court to rule on request to halt Israel’s Rafah offensive

THE HAGUE: Judges at the UN’s top court will rule on Friday on South Africa’s request to order Israel to halt its...

Published 24 May, 2024 10:27am

World

Mexico’s ‘heat dome’ has already killed dozens of people as hotter days loom

MEXICO CITY: The extreme heat smothering much of Mexico has killed dozens of people across multiple states over...

Published 24 May, 2024 10:19am

Mutual Funds

Indian bond yields little changed before debt supply

MUMBAI: Indian government bond yields were largely unchanged in early trading on Friday, as traders awaited fresh...

Published 24 May, 2024 10:15am

Industry

MoI&P suspends Engineering Development Board’s CEO

ISLAMABAD: The Ministry of Industries and Production (MoI&P) has suspended Engineering Development Board (EDB)...

Updated 24 May, 2024 10:14am

Forex

Indian rupee may struggle after Fed rate cut expectations dialled back

MUMBAI: The Indian rupee is likely to be weaker on Friday after robust US data prompted doubts about whether the...

Published 24 May, 2024 10:09am

Stocks

Japan’s Nikkei slides tracking Wall Street as Fed outlook weighs

TOKYO: Japan’s Nikkei share average sank on Friday, tracking declines on Wall Street after robust US economic data...

Published 24 May, 2024 10:07am

Stocks

Miners, banks drag Australian shares lower

Australian shares fell on Friday, pulled down by a broad-based decline across the sub-indexes, and led by...

Published 24 May, 2024 10:05am

Stocks

Indian shares set for a muted start as US data adds to rate cut woes

BENGALURU: Indian shares were set for a muted start on Friday, after notching up record highs in the previous...

Published 24 May, 2024 10:02am

Bullion Rate

Gold eyes biggest weekly drop in nearly eight months

Gold prices hit a two-week low on Friday, set for their biggest weekly loss in nearly eight months, as interest rate...

Published 24 May, 2024 10:00am

Forex

Dollar set for weekly gain as rate cut bets ebb

SINGAPORE: The dollar headed for its largest weekly rise in a month and a half on Friday, helped by surprisingly...

Published 24 May, 2024 09:56am

Simplifying enrolment of NBFCs: SECP introduces Self-Assessment Declaration Form

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) Thursday introduced a Self-Assessment...

Updated 24 May, 2024 09:19am

Pakistan

PTI’s central office sealed

KARACHI: Islamabad’s administration raided the central office of the Pakistan Tehreek-e-Insaf late on Thursday night...

Updated 24 May, 2024 09:18am

11,252 SIM cards of non-filers blocked so far

ISLAMABAD: The Federal Board of Revenue (FBR) has so far blocked 11,252 SIMs of non-filers of income tax returns....

Updated 24 May, 2024 09:17am

BR’s refresher: your morning briefing for the day

Important updates from May 23, 2024

Published 24 May, 2024 09:14am

BR Research

IT exports 10MFY24

IT exports have been witnessing a recovery over the past 5 months of FY24. Total IT exports for 9MFY24 stood at...

Published 24 May, 2024 08:58am

BR Research

Sapphire Fibres Limited

Sapphire Fibres Limited (PSX: SFL) was incorporated in Pakistan as a public limited company in 1979. The principal...

Published 24 May, 2024 08:53am

Sindh against implementation of Ogra law

ISLAMABAD: Constitutional rights of those provinces where gas is produced would be violated with implementation of...

Updated 24 May, 2024 08:49am

Business & Finance

Increase in volume base: PSMCL suggests certain policy interventions

ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb was called on by a delegation of...

Updated 24 May, 2024 08:48am

Business & Finance

Govt wants private sector investment in infrastructure financing: Iqbal

ISLAMABAD: Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal has said that the...

Updated 24 May, 2024 07:24am

Pakistan

CDA chief reviews development works

ISLAMABAD: The Chairman of the Capital Development Authority (CDA), Chaudhary Muhammad Ali Randhawa, conducted a...

Published 24 May, 2024 07:16am

Industry

Setting up of ‘Sindh Industrial Development Corporation’: idea mooted

KARACHI: Economist Qaiser Bengali has proposed the idea of establishing a Sindh Industrial Development Corporation,...

Published 24 May, 2024 07:15am

Energy

Budget: FCCI expects power tariff relief

FAISALABAD: Despite daunting economic challenges, Prime Minister Mian Muhammad Shehbaz Sharif is making serious...

Published 24 May, 2024 07:12am

Energy

Wapda discusses financing opportunities with ADB for its projects

LAHORE: Chairman Wapda Engr Lt Gen Sajjad Ghani (r) discussed financing opportunities in Wapda projects with Asian...

Published 24 May, 2024 07:10am

Pakistan

‘International Day to End Fistula’ observed

LAHORE: The world is observing the International Day to End Fistula on May 23, when millions of women are compelled...

Published 24 May, 2024 07:09am

Industry

CBD generates Rs6.55bn thru third auction

LAHORE: Central Business District (CBD) Punjab recently concluded its third auction of commercial plots, generating...

Published 24 May, 2024 07:05am

Taxes

PRA intensifies monitoring of withholding agents

LAHORE: The Punjab Revenue Authority (PRA) Lahore office has devised a new plan to monitor public sector withholding...

Updated 24 May, 2024 07:04am

Pakistan

JI describes Punjab Defamation Bill as ‘draconian law’

LAHORE: The Jamaat-e-Islami has vehemently rejected the Punjab Defamation Bill 2024, denouncing it as a draconian...

Published 24 May, 2024 07:02am

Pakistan

Yasmin Rashid suffers from severe dehydration

LAHORE: Former provincial health minister Dr Yasmin Rashid, who is under treatment here at Services Hospital due to...

Updated 24 May, 2024 07:02am

Pakistan

‘Every aspect of public welfare is my priority’: CM

LAHORE: Punjab Chief Minister Maryam Nawaz Sharif said on Thursday that IT courses are being conducted in TEVTA for...

Published 24 May, 2024 07:01am

Business & Finance

Turkiye committed to boosting bilateral trade to $5bn in 3 years: envoy

KARACHI: Turkish Ambassador to Pakistan Dr Mehmet Pacaci said on Thursday that Turkiye was committed with Pakistan ...

Published 24 May, 2024 06:57am

Business & Finance

FBR chief inaugurates new building of RTO in Islamabad

ISLAMABAD: Chairman FBR, Malik Amjed Zubair Tiwana inaugurated the new building of Regional Tax Office, Islamabad on...

Published 24 May, 2024 06:57am

Pakistan

Punjab PA Speaker meets Margaret Cook-led team

LAHORE: Speaker Malik Muhammad Ahmad Khan met with the delegation headed by Margaret Cook, Team Leader of the...

Published 24 May, 2024 06:57am

Pakistan

‘Sustainable measures taken to boost investment in 3 months’

LAHORE: Punjab Finance Minister Mujtaba Shuja-ur-Rehman has said that sustainable measures have been taken to boost...

Published 24 May, 2024 06:57am

Money & Banking

HBL holds ‘Global Markets Outlook 2024’ seminars across Pakistan

KARACHI: HBL, Pakistan’s leading Bank, held “Global Markets Outlook 2024” seminars in Karachi, Lahore, and...

Updated 24 May, 2024 06:44am

Commodities

Gold prices slump

KARACHI: Gold prices slumped on the local market Thursday following a sharp fall in the global bullion value nearing...

Updated 24 May, 2024 06:43am

Energy

Ogra holds seminar on consumer safety

ISLAMABAD: The Oil and Gas Regulatory Authority (Ogra) organised a seminar on consumer and operational safety at...

Published 24 May, 2024 06:41am

Industry

Budget FY25: IMC demands govt support local auto industry

ISLAMABAD: Chief Executive Indus Motor Company (IMC) Ali Asghar Jamali has said that the local auto industry is in...

Published 24 May, 2024 06:40am

Pakistan

Meezan Bank, IBA-CEIF hold graduation ceremony for ‘Meezan Justuju’ programme

KARACHI: The graduation ceremony for the flagship Islamic Finance Talent development programme – Meezan Justuju,...

Published 24 May, 2024 06:38am

Pakistan

FIA urges IHC to remand cipher case back to trial court if trial was not fair

ISLAMABAD: The Federal Investigation Agency (FIA) prosecutor asked the Islamabad High Court (IHC) to remand back the...

Updated 24 May, 2024 06:32am

Rates

BRIndex100 and BR Sectoral Indices

KARACHI: BRIndex100 and BR Sectoral Indices on Thursday (May 23, 2024). ==================================== BR...