News Archives for Latest - 2024-05-30

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Archive - 2024-05-30

Pakistan

Formation commanders say politically motivated 'digital terrorism' meant to sow discord among national institutions

Chief of Army Staff (COAS) General Syed Asim Munir presides over the 83rd Formation Commanders Conference at GHQ

Updated 30 May, 2024 11:27pm

World

US condemns North Korea missile launches

WASHINGTON: The United States on Thursday strongly condemned North Korea’s latest missile launches as a threat to...

Published 30 May, 2024 11:04pm

Companies

Electric vehicle: DFML enters into agreement with EGML to manufacture Honri-VE

Dewan Farooque Motors Limited (DFML) said that it has entered into a toll manufacturing agreement with ECO-Green...

Updated 30 May, 2024 10:29pm

Forex

SBP-held foreign exchange reserves decrease $63mn, now stand at $9.09bn

Total liquid foreign reserves held by the country stand at $14.31 billion

Updated 30 May, 2024 10:28pm

Pakistan

Pakistan launches PakSAT-MM1 for faster internet connectivity

Pakistan on Thursday launched its second communication satellite, PakSAT-MM1, with an aim for a faster internet...

Updated 30 May, 2024 10:27pm

Companies

Lucky TG to buyback shares amid ‘uncertain economic conditions’

Citing economic conditions, Lucky Core Industries Limited’s (LCI) subsidiary Lucky TG (Private) Limited (LTG) will...

Updated 30 May, 2024 10:22pm

Commodities

Gold price per tola falls Rs1,500 in Pakistan

Gold prices fell in Pakistan on Thursday in line with a decrease in the international rate. In the local market,...

Updated 30 May, 2024 10:21pm

Currency

Rupee sustains further losses against US dollar

Currency settles at 278.50 against the greenback in inter-bank market

Updated 30 May, 2024 09:09pm

South Asia

Iran registers presidential candidates for early vote after Raisi’s death

DUBAI: Iran on Thursday started registration of candidates for an early election next month following the death of...

Published 30 May, 2024 09:05pm

Stocks

Wall St slips as investors juggle growth data; Salesforce weighs on Dow

US stock indexes fell on Thursday, with a plunge in Salesforce dragging on the Dow, while data showing the economy...

Published 30 May, 2024 08:53pm

South Asia

India’s gruelling, acrimonious election campaign comes to an end

MUMBAI: More than two months of gruelling and acrimonious campaigning in India’s general election that played out in...

Published 30 May, 2024 08:47pm

Europe

NATO chief seeks 40bn euros per year for Ukraine military aid

PRAGUE: NATO chief Jens Stoltenberg will ask allies to pledge a minimum of 40 billion euros ($43.37 billion)...

Published 30 May, 2024 08:37pm

Middle East

Saudi central bank net foreign assets fall by almost $11bn in April

The Saudi central bank’s net foreign assets fell by $10.66 billion in April from the previous month, the central...

Published 30 May, 2024 08:33pm

Pakistan

NAB laws case: SC rejects plea to broadcast live proceedings

The Supreme Court (SC) rejected on Thursday the Khyber Pakhtunkhwa government’s request for live broadcast of the...

Updated 30 May, 2024 08:14pm

Energy

Power loadshedding to continue on high-loss feeders, says Leghari

Providing electricity to such feeders will add to power sector losses, energy minister says

Updated 30 May, 2024 08:05pm

Middle East

Saudi Arabia may announce landmark Aramco share sale on Thursday, sources say

DUBAI: Saudi Arabia may announce a landmark secondary share offering in oil giant Aramco later on Thursday, pending...

Published 30 May, 2024 07:43pm

Europe

Slovenia’s government recognises Palestinian state, needs parliamentary approval

BELGRADE: The Slovenian government on Thursday approved a decision to recognise an independent Palestinian state,...

Published 30 May, 2024 07:23pm

South Asia

Sri Lanka tightens controls to stop men being duped into Ukraine fighting

COLOMBO: Sri Lanka will tighten controls to try to stop its men being lured to Russia to fight in Ukraine with often...

Published 30 May, 2024 07:07pm

Stocks

Most Gulf bourses rise; Saudi hits 5-month low

Most stock markets in the Gulf reversed early losses to end higher on Thursday, ahead of key U.S. inflation data...

Published 30 May, 2024 06:58pm

Stocks

KSE-100 drifts higher in range-bound session

A range-bound session on the Pakistan Stock Exchange (PSX) ended on Thursday with the benchmark KSE-100 Index...

Published 30 May, 2024 05:57pm

South Asia

Israel tried to avert Iranian response to embassy attack, Iranian Guards commander says

DUBAI: Israel sent messages to Tehran via Egypt that it would “compromise” in Gaza to try to avert an Iranian...

Published 30 May, 2024 05:50pm

Commodities

Asia rice: Thai, Vietnam rates ease on soft demand; India prices steady

Prices of rice exported from Thailand and Vietnam edged lower this week due to lower demand and rising supplies,...

Published 30 May, 2024 05:39pm

Stocks

Sri Lankan shares end higher as financials gain

CSE All Share index settled up 0.56% at 12,170.13

Published 30 May, 2024 05:34pm

Energy

Oil prices steady before stocks and inflation data, OPEC+ meeting

LONDON: Oil prices were broadly steady on Thursday, ahead of U.S. crude oil stockpiles data, inflation data and an...

Updated 30 May, 2024 05:28pm

Middle East

36,224 Palestinians killed in Gaza offensive since Oct. 7, health ministry says

DUBAI: More than 36,224 Palestinians have been killed and 81,777 have been injured in Israeli military offensive on...

Published 30 May, 2024 05:17pm

Africa

Smuggling of African gold on the rise: NGO

LAGOS: Billions of dollars’ worth of gold is smuggled out of Africa each year, much of it bound for Dubai before it...

Published 30 May, 2024 05:08pm

Stocks

Indian shares fall for fifth session on weak global cues, election uncertainties

BENGALURU: Indian shares fell for a fifth straight session on Thursday, pressured by weakness in global peers, while...

Published 30 May, 2024 04:53pm

Commodities

Copper stumbles as funds liquidate amid rate worries

LONDON: Copper prices dropped on Thursday as funds sold off bullish positions, triggered by concerns that high...

Published 30 May, 2024 04:43pm

Commodities

Palm oil falls on profit-taking, weaker Chicago soyoil

KUALA LUMPUR: Malaysian palm oil futures closed lower on Thursday on profit-taking and weakness in rival Chicago...

Published 30 May, 2024 04:40pm

Travel

‘Come back’: Champs-Elysees wants to win over Parisians

PARIS: The Champs-Elysees, the iconic avenue sweeping through central Paris dotted with cafes and shops, connects...

Published 30 May, 2024 04:19pm

Movies & Music

‘Heartbreaking and terrifying’: Malala Yousafzai condemns Rafah attack

She has come under fire earlier for not speaking up about Gaza

Published 30 May, 2024 03:52pm

Sports

T20 World Cup: New York boosts security after reported threats to Pakistan-India match

WASHINGTON: New York will boost security for the upcoming T20 Cricket World Cup in June, the governor said, after...

Published 30 May, 2024 03:42pm

Life & Style

‘All eyes on Rafah’ image shared 46mn times online

Malala, Gigi and Bella Hadid among celebrities who shared the graphic

Published 30 May, 2024 03:08pm

Europe

French MP says waving Palestinian flag was protest at ‘massacre’ in Gaza

PARIS: A hard-left French lawmaker sanctioned for raising a Palestinian flag in parliament on Tuesday said he would...

Published 30 May, 2024 03:02pm

Pakistan

Pakistan, Azerbaijan resolve to further strengthen bilateral strategic relations

Foreign Minister of Azerbaijan Jeyhun Bayramov and FM Isha Dar review progress on bilateral relations and exchang views on regional and global developments

Updated 30 May, 2024 02:20pm

Sports

Novak Djokovic moving in ‘positive direction’ at French Open

PARIS: Novak Djokovic believes he’s moving in a “positive direction” as he targets a place in the last 32 of the...

Published 30 May, 2024 01:42pm

Stocks

Hong Kong stocks track Wall St losses at open

HONG KONG: Hong Kong stocks opened with another loss Thursday morning following a retreat on Wall Street that came...

Published 30 May, 2024 01:40pm

Sports

Jos Buttler eager for T20 world champions England to learn India lessons

LONDON: England captain Jos Buttler believes his squad will be better equipped to retain their T20 World Cup title...

Published 30 May, 2024 01:39pm

Asia

North Korea fires multiple short-range ballistic missiles

SEOUL: North Korea fired a salvo of short-range ballistic missiles early Thursday, Seoul's military said, hours ...

Published 30 May, 2024 01:33pm

Life & Style

Egypt unveils renovation of 14th-century Maridani mosque

CAIRO: Egypt’s Supreme Council of Antiquities held a ceremony to mark the completion of multi-year renovations to...

Published 30 May, 2024 01:27pm

Travel

Cruise operators offer summer discounts as ships crowd the Caribbean, Alaska

NEW YORK: Cruise operators Royal Caribbean Carnival and Norwegian Cruise Line Holdings are discounting summer...

Published 30 May, 2024 01:13pm

South Asia

India’s onion farmers cry foul at politicians’ price recipe

NASHIK: Almost every Indian meal requires an onion – one of the cooking essentials along with sugar and lentils that...

Published 30 May, 2024 01:09pm

Middle East

Car ramming attack kills two Israeli soldiers in West Bank: army

OCCUPIED JERUSALEM: A car ramming attack killed two Israeli soldiers near the city of Nablus in the occupied West...

Published 30 May, 2024 01:01pm

Middle East

Egypt’s Sisi calls to ensure Gazans not ‘forcibly displaced’

BEIJING: Egyptian President Abdel Fattah al-Sisi on Thursday urged the international community to ensure...

Published 30 May, 2024 12:58pm

Europe

Running star wants world to move faster on air pollution

GENEVA: Kenya’s 800 metres world record holder David Rudisha is urging the planet to combat air pollution, saying...

Published 30 May, 2024 12:13pm

Asia

Rescue teams don’t expect to find survivors in Papua New Guinea landslide

SYDNEY: Papua New Guinea ruled out finding survivors under the rubble of a massive landslide on Thursday, with the...

Published 30 May, 2024 11:57am

Bullion Rate

Gold prices drop as strong US dollar, yields dim bullion’s shine

Gold prices slipped for a second consecutive session on Thursday as the US dollar and Treasury yields edged higher...

Published 30 May, 2024 11:54am

Technology

Apple to add Japan’s ‘My Number’ ID card function to iPhone, Japan official says

TOKYO: Apple CEO Tim Cook agreed at the request of Japanese Prime Minister Fumio Kishida to put Japan’s “My Number”...

Published 30 May, 2024 11:51am

Technology

Sony stresses PlayStation user engagement as hardware sales taper off

TOKYO: Japan’s Sony on Thursday emphasised the strength of user engagement with its gaming platform as sales of the...

Published 30 May, 2024 11:49am

Energy

Bangladesh’s RPGCL seeks LNG cargo for late June delivery, sources say

SINGAPORE: Bangladesh’s state-owned Rupantarita Prakritik Gas Company Ltd (RPGCL) has issued a tender seeking a...

Published 30 May, 2024 11:46am

Europe

China could arrange Russia-Ukraine peace conference, Lavrov tells RIA

China could arrange a peace conference in which Russia and Ukraine would participate, the RIA news agency cited...

Published 30 May, 2024 11:40am

Business & Finance

Thai April factory output unexpectedly rises for first time in 19 months

BANGKOK: Thailand’s manufacturing production index unexpectedly rose 3.43% in April from a year earlier, increasing...

Published 30 May, 2024 11:38am

Business & Finance

Toyota’s global volumes fall in April, led by drops in China and Japan

TOKYO: Toyota Motor’s April global sales and production fell from a year earlier, hurt by an intense price war in...

Published 30 May, 2024 11:37am

Business & Finance

Iron ore slips after China reiterates steel output control

SINGAPORE/BEIJING: Iron ore futures prices slipped on Thursday, undermined by fears of falling demand in top...

Published 30 May, 2024 11:35am

Mutual Funds

Indian bond yields steady as traders eye response to debt buyback

MUMBAI: Indian government bond yields were little changed on Thursday, with traders focused on a debt buyback, after...

Published 30 May, 2024 11:34am

Commodities

Wheat slips further from 10-mth high after rain forecast for parts of Russia

CANBERRA: Chicago wheat futures on Thursday fell further from 10-month highs, as traders assessed whether forecast...

Published 30 May, 2024 11:32am

Energy

Asia’s crude oil imports hit 12-month high, but it’s India, not China: Russell

LAUNCESTON: Asia’s imports of crude oil rose to the highest in 12 months in May, with the strength being driven by...

Published 30 May, 2024 11:28am

Europe

Two ferries damaged in Ukrainian strike on Russian-held Kerch, official says

Debris from downed Ukrainian missiles aimed at a transport facility in the Russian-controlled city of Kerch damaged...

Published 30 May, 2024 11:22am

Sports

Recovered Rybakina ready to let her game do the talking at French Open

PARIS: After her build-up to the French Open was hampered by illness, fourth seed Elena Rybakina looks keen to prove...

Published 30 May, 2024 11:11am

Business & Finance

S&P Global will likely raise India’s rating within 2 years, Citi says

MUMBAI: Citi expects S&P Global Ratings’ to upgrade India’s sovereign rating by late 2026 given the ratings...

Published 30 May, 2024 11:08am

Forex

Australia, NZ dollars suffer setback, rate outlook clouded

SYDNEY: The Australian and New Zealand dollars steadied on Thursday after suffering a setback from a surge in US...

Published 30 May, 2024 11:07am

Technology

Google to invest $2bn in data centre and cloud services in Malaysia

KUALA LUMPUR: Google will invest $2 billion in Malaysia to develop its first data centre and Google Cloud region in...

Published 30 May, 2024 11:04am

Stocks

Japan’s Nikkei sinks below 38,000 as Wall Street, higher yields weigh

TOKYO: Japan’s Nikkei share average fell more than 1% on Thursday, touching one-month intraday lows after a slump on...

Published 30 May, 2024 11:02am

Forex

Indian rupee seen extending declines on higher US yields; dollar at 2-week high

MUMBAI: The Indian rupee is poised to fall on Thursday following a further rise in US Treasury yields amid worries...

Published 30 May, 2024 11:00am

Stocks

Stocks, bonds slump over global rates angst

SINGAPORE: Asian stocks were a sea of red on Thursday and bonds slid on bets global interest rates would stay higher...

Published 30 May, 2024 10:56am

Business & Finance

China lifts ban on five Australian beef exporters

SYDNEY: China has lifted bans on imports from five major Australian beef processing facilities, the Australian...

Published 30 May, 2024 10:53am

Commodities

Shanghai aluminium climbs to 2-year high on strong fundamentals

BEIJING: Aluminium prices in Shanghai jumped on Thursday to their highest levels in more than two years as investors...

Published 30 May, 2024 10:51am

Stocks

Miners, banks drag Australian shares lower as rate woes weigh

Australian shares fell nearly 1% in broad-based selling on Thursday, with heavyweight miners and banks leading the...

Published 30 May, 2024 10:47am

Stocks

Indian shares inch lower as IT stocks weigh

BENGALURU: Indian shares inched lower on Thursday as gains in banks were outweighed by losses in information...

Published 30 May, 2024 10:28am

Asia

Xi says China wants to work with Arab states to resolve hot spot issues

BEIJING: China wants to work with Arab nations to resolve hot spot issues in ways conducive to upholding fairness,...

Published 30 May, 2024 10:14am

Forex

China’s yuan at six-month low as dollar strength prevails

HONG KONG: China’s yuan languished at a six-month low against the dollar on Thursday, as the relentless climb in US...

Published 30 May, 2024 10:08am

Forex

Dollar ascendant as surging US yields spur safety bid

TOKYO: The dollar scaled a two-week peak against its major peers on Thursday, as a rout in Treasuries improved the...

Published 30 May, 2024 10:04am

Monthly Economic Update and Outlook of EAW: Credit to private sector declines 39.7pc YoY

Finance Ministry states that expenditures remained under significant pressure due to rising mark-up payments

Updated 30 May, 2024 09:31am

Tax relief on humanitarian donations, gifts: Revenue Division directed to process law amendments

ISLAMABAD: The Federal Cabinet has directed the Revenue Division to process amendments to law/rules to ensure...

Updated 30 May, 2024 09:28am

2nd circuit stringing from Jiwani to Gwadar: ECC approves TSG worth Rs2.217bn

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has approved a technical supplementary grant...

Updated 30 May, 2024 09:27am

Refined sugar export: third meeting of SAB also remains inconclusive

ISLAMABAD: The third successive meeting of the Sugar Advisory Board (SAB) has failed to decide on the export of...

Updated 30 May, 2024 09:27am

The largest container vessel ever to berth in Pakistan: Hutchison greets maiden call of CV MSC ANNA

KARACHI: Hutchison Ports Pakistan on Wednesday welcomed the maiden call of the CV MSC ANNA, the largest container...

Updated 30 May, 2024 09:26am

Surveillance purposes: IHC asks telecos not to record calls, data

ISLAMABAD: The Islamabad High Court (IHC) restrained the telecom companies from recording phone calls and data for...

Updated 30 May, 2024 08:54am

Budgetary support: Govt borrowing rises 116pc

KARACHI: The federal government borrowing from scheduled banks for budgetary support rose significantly by 116...

Updated 30 May, 2024 08:53am

Power sector: MoF agrees to extend Rs1.094trn subsidy

ISLAMABAD: The Finance Ministry is said to have agreed to extend subsidy of Rs 1.094 trillion for the financial year...

Updated 30 May, 2024 08:39am

Rising commodity prices: MoC likely to set up panel to exercise MEP restrictions

ISLAMABAD: Commerce Ministry is likely to constitute a committee to exercise restrictions of Minimum Export Price...

Updated 30 May, 2024 08:38am

Tax Laws Amendment Act has a retrospective effect, rules ATIR Islamabad

ISLAMABAD: Appellate Tribunal Inland Revenue Islamabad has ruled that Tax Laws Amendment Act, 2024 has a...

Updated 30 May, 2024 08:37am

PAKSAT-MM1 to be launched into space today

ISLAMABAD: Pakistan’s advanced communication satellite, PAKSAT-MM1, will be launched into space on Thursday (today)....

Updated 30 May, 2024 08:37am

BR’s refresher: your morning briefing for the day

Important updates from May 29, 2024

Published 30 May, 2024 08:34am

BR Research

Gas tariff respite: Unrealistic assumptions

In a welcome change, natural gas prices are expected to decline from July 1, 2024. This is not something you hear...

Published 30 May, 2024 07:52am

BR Research

Upstream sector challenges

The upstream oil and gas sector has been in trouble for some time now. The weakness of the oil and gas sector can...

Published 30 May, 2024 07:49am

BR Research

Agritech Limited

Agritech Limited (PSX: AGL) was incorporated in Pakistan in 1959 as Pak-American Fertilizers Limited. The company is...

Published 30 May, 2024 07:33am

Opinion

Palestine and the revenge-based disorder of US

“If you wrong us, shall we not revenge?” Inquires Shylock, a Jew in Shakespeare’s Merchant of Venice. “If ...

Updated 30 May, 2024 06:59am

Opinion

Adoption of digital information and communication technologies for sesame cultivation

The cultivation of sesame in Pakistan has emerged as a promising solution to meet the country’s growing demand for...

Updated 30 May, 2024 06:57am

Opinion

Race to view, to follow, to influence

IPads are for toddlers. A 10-month-old can scroll and choose his or her favourite cartoon. That maybe insane but...

Updated 30 May, 2024 06:55am

Opinion

Market lesson in India’s election

How instructive to watch the cold, ruthless logic of the market at play around the Indian election. It turns out ...

Updated 30 May, 2024 06:53am

Editorials

Railways in a mess

EDITORIAL: One need only look at the books of Pakistan Railways to understand why it is in such a financial mess. As...

Updated 30 May, 2024 06:53am

Editorials

Inflation is cooling?

EDITORIAL: Pakistan Bureau of Statistics (PBS) estimated a 0.34 percent decline in the sensitive price index (SPI),...

Updated 30 May, 2024 06:52am

Opinion

PARTLY FACETIOUS: ‘She should fire her tailor’

“So tell me why was the notification for a countrywide holiday on 28 May so late in the coming. I mean, it was well...

Updated 30 May, 2024 06:51am

Pakistan

Court delays ruling on IK’s ‘unlawful’ marriage conviction

ISLAMABAD: The district and sessions judge on Wednesday did not announce its verdict on Pakistan Tehreek-e-Insaf...

Published 30 May, 2024 06:42am

Pakistan

Minister inaugurates clean drinking water facility at Narowal

LAHORE: Federal Minister for Planning & Development Ahsan Iqbal inaugurated Nestlé Pakistan’s clean and safe...