News Archives for Latest - 2024-06-03

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Archive - 2024-06-03

World

Israel army announces death of four hostages in Gaza

JERUSALEM: The Israeli army on Monday announced the deaths of four hostages in the Gaza Strip, following their...

Published 03 Jun, 2024 11:51pm

Sports

Nortje takes 4-7 as South Africa beat Sri Lanka in T20 World Cup

NEW YORK: South Africa’s Anrich Nortje took a remarkable four wickets for just seven runs as the Proteas dismissed...

Updated 03 Jun, 2024 11:20pm

Stocks

KSE-100 loses over 300 points on profit-taking

The Pakistan Stock Exchange (PSX) witnessed a negative session on Monday as its benchmark KSE-100 Index failed to...

Updated 03 Jun, 2024 10:59pm

Companies

PIA sell-off: 6 companies/consortiums pre-qualified for privatisation process

Air Blue, Arif Habib Corporation, Blue World City, Fly Jinnah, Pak Ethanol Consortium, and YB Holdings Consortium included in the list

Updated 03 Jun, 2024 10:58pm

Pakistan

IHC acquits Imran Khan, Shah Mahmood in cipher case

IHC Chief Justice Aamer Farooq and Justice Miangul Hassan Aurangzeb announce the verdict

Updated 03 Jun, 2024 10:56pm

Exchange

Rupee remains largely stable against US dollar

Currency settles at 278.36 against the greenback in inter-bank market

Updated 03 Jun, 2024 10:55pm

Business & Economy

Pakistan’s trade deficit narrows 15.25% YoY to $21.73bn in 11MFY24

Exports increase by 10.65% to $28.07bn, while imports decline 2.37% to $49.8bn

Updated 03 Jun, 2024 10:52pm

World

US sees Israeli ‘willingness’ for Gaza deal

WASHINGTON: Israel has shown willingness to agree to a ceasefire and hostage release deal set out by US President...

Published 03 Jun, 2024 10:31pm

Pakistan

PM Shehbaz orders abolishment of Pakistan PWD

Prime Minister Shehbaz Sharif ordered on Monday an “immediate” wrapping up of the Pakistan Public Works Department...

Published 03 Jun, 2024 09:42pm

Stocks

Pharma, energy stocks drag London’s FTSE 100; ECB rate cut hopes cap losses

London’s FTSE 100 slipped on Monday, weighed down by the pharmaceutical and energy sectors, while investor optimism...

Published 03 Jun, 2024 09:41pm

Stocks

European shares kick-off June on a high note in anticipation of ECB rate cut

European shares rose for the third straight session on Monday, led by bond-proxy sectors, as investors looked to a...

Published 03 Jun, 2024 09:36pm

Pakistan

11 killed in Quetta coal mine gas leak accident

Nine miners were among the deceased

Published 03 Jun, 2024 09:18pm

Energy

Oil dives 3%, OPEC+ decision fails to allay demand worries

NEW YORK: Oil prices tumbled more than $2 a barrel on Monday to multi-month lows, as investors worried about the...

Updated 03 Jun, 2024 09:04pm

Sports

T20 World Cup winner to get record prize money of $2.45mn

Runners-up to earn at least $1.28mn

Updated 03 Jun, 2024 08:48pm

Markets

Pakistan’s headline inflation decelerates further to 11.8% in May 2024

CPI-based figure lowest after 29 months, making case for rate cut stronger

Updated 03 Jun, 2024 08:36pm

Pakistan

SC adjourns hearing Sunni Ittehad Council’s plea on reserved seats

A full bench of the Supreme Court adjourned on Monday the hearing of the Sunni Ittehad Council’s (SIC) plea against...

Updated 03 Jun, 2024 08:29pm

Sports

Medvedev knocked out of French Open by De Minaur

PARIS: Daniil Medvedev suffered a four-set loss to Australia’s Alex de Minaur in the French Open fourth round on...

Published 03 Jun, 2024 08:04pm

Companies

Belgium’s Ontex completes divestment of business in Pakistan

Ontex Group NV, a Belgian developer and producer of care products and solutions, on Monday announced that it has...

Updated 03 Jun, 2024 07:57pm

Pakistan

2.3 magnitude earthquake hits parts of Karachi

Tremors felt in Clifton, Saddar, North Nazimabad, and other areas

Published 03 Jun, 2024 06:57pm

Stocks

US stocks open mostly higher

NEW YORK: Wall Street stocks climbed early Monday ahead of a heavy news week that includes US jobs data and an...

Published 03 Jun, 2024 07:12pm

Stocks

Saudi bourse leads Gulf markets higher; Egypt extends decline

Most stock markets in the Gulf ended higher on Monday, led by the Saudi bourse, after a U.S. inflation reading last...

Published 03 Jun, 2024 07:03pm

Commodities

Copper climbs on Chinese data and hopes of Fed rate cuts

LONDON: Copper prices rose on Monday after data from top consumer China showed stronger factory activity and U.S....

Published 03 Jun, 2024 06:59pm

Middle East

Israel: Biden published partial version of Gaza plan

JERUSALEM: An Israeli government spokesperson quoted Prime Minister Benjamin Netanyahu as saying on Monday that US...

Published 03 Jun, 2024 06:01pm

Middle East

UN experts urge all countries to recognise Palestinian statehood

GENEVA: A group of United Nations experts called on Monday for all countries to recognise a Palestinian state to...

Published 03 Jun, 2024 05:53pm

Middle East

More than half of Gaza structures destroyed or damaged: UN

GENEVA: Some 55 percent of all structures in the Gaza Strip have been destroyed, damaged or possibly damaged since...

Published 03 Jun, 2024 05:39pm

Middle East

Netanyahu says Gaza plan can begin before terms fully agreed

JERUSALEM: Israeli media quoted Prime Minister Benjamin Netanyahu as saying on Monday that the first phase of a...

Published 03 Jun, 2024 05:31pm

Technology

Microsoft to invest $3.2bn in AI in Sweden

STOCKHOLM: Microsoft said Monday that it would invest 33.7 billion kronor ($3.2 billion) over two years in cloud and...

Published 03 Jun, 2024 05:29pm

Stocks

Stock markets firm on renewed US rate cut hopes; gas price jumps

LONDON: Equity markets rose Monday as a dip in US inflation revived hopes the Federal Reserve would cut interest...

Updated 03 Jun, 2024 05:26pm

Middle East

Palestinian presidency hits back at remarks by Iran’s Khamenei on Oct. 7 attack

DUBAI: The Palestinian people do not need wars that do not serve their ambitions for freedom and independence, the...

Published 03 Jun, 2024 05:24pm

Europe

Three killed in Russian attacks on eastern Ukraine

KYIV: Three people including a 12-year-old boy were killed in Russian attacks on eastern Ukraine, where Russian...

Published 03 Jun, 2024 05:23pm

Sports

Mbappe, Griezmann absent from initial France Olympic team list

PARIS: Kylian Mbappe and Antoine Griezmann were on Monday left off the preliminary list of 25 players called up by...

Published 03 Jun, 2024 05:20pm

Stocks

Reliance, financials lead surge in Indian shares ahead of election results

MUMBAI: Indian shares surged on Monday, led by financials, index heavyweight Reliance Industries and energy stocks,...

Published 03 Jun, 2024 05:20pm

Stocks

Sri Lanka shares end lower, dragged by real estate and consumer staples

CSE All Share index settled down 0.46% at 12,050.44

Published 03 Jun, 2024 05:12pm

Movies & Music

Media mogul Rupert Murdoch, 93, weds for the fifth time

Rupert Murdoch has wed retired marine biologist Elena Zhukova in California, the fifth marriage for the 93-year-old...

Published 03 Jun, 2024 05:10pm

Commodities

Gold unchanged at Rs240,300 per tola in Pakistan

Gold prices remained unchanged in Pakistan on Monday as the yellow metal held steady in the international market. In...

Published 03 Jun, 2024 04:23pm

Perspectives

Understanding net metering, gross metering, and net billing: Pakistan needs sustainable practices

The recent buzz around gross metering has reignited discussions on renewable energy, a crucial subject as the world...

Published 03 Jun, 2024 04:03pm

Movies & Music

Netflix drama ‘Heera Mandi’ stirs complex past of Pakistan’s ‘courtesans’

LAHORE, Pakistan: The Netflix hit ‘Heeramandi’ depicts the plush and powerful lives of courtesans in the 1940s, but...

Updated 03 Jun, 2024 03:57pm

Europe

Zelensky to participate at G7 summit in Italy: spokesman

KYIV: Ukraine President Volodymyr Zelensky will participate in the upcoming G7 summit in Italy either online or in...

Published 03 Jun, 2024 03:56pm

Movies & Music

Supermodels Gigi, Bella Hadid donate $1mn to aid groups supporting Palestinians in Gaza

Supermodels Gigi and Bella Hadid donated $1 million to aid groups supporting Palestinians in the Gaza Strip,...

Published 03 Jun, 2024 03:41pm

Europe

Russia FM in Guinea amid Africa influence boost

MOSCOW: Russian Foreign Minister Sergei Lavrov arrived on Monday in Guinea, his ministry said, the first trip by...

Published 03 Jun, 2024 03:47pm

Stocks

OGDCL enhances oil & gas production in KP, Sindh wells

Oil & Gas Development Company Limited (OGDCL), the country’s largest hydrocarbon exploration firm, achieved a...

Published 03 Jun, 2024 03:45pm

Sports

Elena Rybakina sees off Svitolina to make French Open quarter-finals

PARIS: Fourth seed Elena Rybakina overpowered Elina Svitolina with a straight-sets victory to reach the French Open...

Published 03 Jun, 2024 03:31pm

Forex

South African rand edges higher; focus on coalition negotiations this week

JOHANNESBURG: South Africa’s rand was slightly stronger early on Monday, with analysts expecting coalition...

Published 03 Jun, 2024 03:25pm

Taxes

FBR digitisation: Aurangzeb calls for utilisation of PRAL, REMIT data

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb has called for using data from PRAL (Pakistan...

Published 03 Jun, 2024 03:23pm

Stocks

India’s Adani Group rallies on infrastructure bets as Modi seen retaining power

BENGALURU: Shares of three Adani Group companies hit record highs Monday amid a broad-based rally in the...

Published 03 Jun, 2024 03:23pm

Stocks

London stocks edge higher ahead of ECB rate decision; GSK slumps

London stocks rose on Monday, mirroring counterparts in Asia, ahead of the highly anticipated rate cut by the...

Published 03 Jun, 2024 03:21pm

Stocks

Gulf markets follow Asian peers higher in early trade

Most stock markets in the Gulf tracked Asian peers higher in early trading on Monday, after a US inflation reading...

Published 03 Jun, 2024 03:19pm

Asia

China maintains stance on disputed Gulf islands despite Iran’s anger

BEIJING: China held its stance on three disputed islands in the Persian Gulf on Monday despite Tehran’s anger at...

Updated 03 Jun, 2024 03:15pm

Europe

Kremlin says there is no doubt that gas pipeline deal with China will be clinched

MOSCOW: Kremlin spokesman Dmitry Peskov said on Monday that there was no doubt that Russia and China will reach a...

Published 03 Jun, 2024 03:13pm

Movies & Music

Katy Perry had payday of over $5.4mn to perform at Ambani’s pre-wedding luxury cruise

Musician Katy Perry was paid a sum of over $5.4 million to perform at the second pre-wedding party held atop a...

Published 03 Jun, 2024 03:06pm

South Asia

India poll panel says 642mn voters cast ballots in general election

NEW DELHI: India’s Election Commission said on Monday that 642 million of the 968 million registered voters cast...

Published 03 Jun, 2024 01:33pm

Stocks

GSK shares tumble 9% after 70,000 Zantac lawsuits allowed to move forward

Shares of British drugmaker GSK dropped more than 9% on Monday, after a Delaware judge allowed more than 70,000...

Published 03 Jun, 2024 01:29pm

Middle East

UNRWA says forced displacement has pushed over 1 million away from Rafah

DUBAI: Forced displacement has pushed over a million people away from the Gazan city of Rafah, the United Nations...

Published 03 Jun, 2024 01:23pm

South Asia

India to increase road toll charges from Monday

NEW DELHI: India will hike road toll charges across the country by 3-5% from Monday, officials said, after putting...

Published 03 Jun, 2024 12:29pm

Sports

Steve Clarke hopes to see his Scotland side go a step further at Euro 2024

Now that Scotland manager Steve Clarke has masterminded back-to-back European Championship appearances for his...

Published 03 Jun, 2024 12:26pm

Business & Finance

Indonesia’s inflation rate cools in May, comes in below forecast

JAKARTA: Indonesia’s annual inflation rate eased more than expected in May, data from the statistics bureau showed...

Published 03 Jun, 2024 12:23pm

Business & Finance

Moody’s raises China’s growth forecast to 4.5% for 2024

BEIJING: Moody’s raised China’s growth forecast for 2024 to 4.5% from 4.0%, it said in a statement released on...

Published 03 Jun, 2024 12:15pm

Europe

Civilian dies in Russian attack on Ukraine’s Kharkiv, official says

One person died and two were injured in an overnight Russian attack on Kharkiv, the governor of the eastern...

Published 03 Jun, 2024 12:14pm

Energy

Sinopec Fuel Oil appoints new trade director in Singapore to boost bunker sales

SINGAPORE: Sinopec Fuel Oil Singapore, a unit of Asia’s largest refiner state-run Sinopec , appointed on Monday oil...

Published 03 Jun, 2024 12:11pm

Europe

Ukraine’s Zelenskiy thanks Marcos for Philippine participation in peace summit

MANILA: Ukrainian President Volodymyr Zelenskiy thanked his Philippine counterpart on Monday for Manila’s...

Published 03 Jun, 2024 12:09pm

Commodities

London copper edges up on China, US data

London copper advanced on Monday, as a private sector survey showed strong factory activity in top consumer China,...

Published 03 Jun, 2024 12:08pm

Commodities

South Korea’s NOFI bought about 60,000 T feed wheat in private deal, say traders

HAMBURG: Leading South Korean animal feed group Nonghyup Feed Inc. (NOFI) purchased around 60,000 metric tons of...

Published 03 Jun, 2024 12:06pm

Business & Finance

Toyota, other Japan automakers under fire for vehicle certification issues

TOKYO: Toyota Motor said on Monday its chairman would speak about an investigation it has conducted into its vehicle...

Published 03 Jun, 2024 12:04pm

Business & Finance

Asian factory activity expands in May on robust global demand

TOKYO: Asian factory activity expanded in May as manufacturers benefited from broadening global demand, private...

Published 03 Jun, 2024 12:02pm

Mutual Funds

JGB yields retreat from decade peaks as US yields slide

TOKYO: Japanese government bond yields pulled back from near more-than-decade peaks on Monday, tracking a slide in...

Published 03 Jun, 2024 12:00pm

Forex

China’s yuan extends losses after five straight months of declines

SHANGHAI: China’s yuan on Monday extended losses against the dollar after posting its fifth straight month of...

Published 03 Jun, 2024 11:59am

Business & Finance

Qatar Airways in talks for Airbus, Boeing order

DUBAI: Qatar Airways is in talks with plane makers Airbus and Boeing for a major wide-body order, its chief...

Published 03 Jun, 2024 11:58am

Commodities

Wheat jumps 1% on global supply worries; soybeans hit one-month low

SINGAPORE: Chicago wheat bounced back on Monday, rising more than 1% and gaining after three sessions of declines,...

Published 03 Jun, 2024 11:56am

Forex

Australia, NZ dollars underpinned by Asia growth, rate risks

SYDNEY: The Australian and New Zealand dollars were well supported on Monday, as surveys showed faster factory...

Published 03 Jun, 2024 11:55am

South Asia

Heat wave kills at least 56 in India, nearly 25,000 heat stroke cases, from March-May

NEW DELHI: India saw nearly 25,000 cases of suspected heat stroke and 56 people lost their lives after several heat...

Updated 03 Jun, 2024 11:20am

Sports

Yuka Saso wins second US Women’s Open golf crown

LANCASTER: Japan’s Yuka Saso powered away on the back nine to win her second US Women’s Open title Sunday, carding a...

Published 03 Jun, 2024 11:11am

Sports

Marathon man Djokovic eyes 15th successive French Open quarter-final

PARIS: Novak Djokovic will aim to reach his 15th successive French Open quarter-final on Monday after setting an...

Published 03 Jun, 2024 11:08am

Asia

Strong earthquake hits central Japan

TOKYO: A strong magnitude 5.9 earthquake on Monday shook the area of central Japan that was hit by a devastating...

Published 03 Jun, 2024 11:05am

Stocks

Hong Kong shares jump at open

HONG KONG: Hong Kong stocks rallied more than one percent at the open Monday after fresh US inflation data lifted...

Published 03 Jun, 2024 11:03am

USA

Donald Trump denies saying ‘lock her up’ about 2016 rival Clinton

WASHINGTON: Donald Trump falsely claimed Sunday that he did not call for former election rival Hillary Clinton to be...

Published 03 Jun, 2024 11:02am

Europe

European powers seek to censure Iran at UN nuclear meeting

VIENNA: Britain, France and Germany will seek to censure Iran over its lack of cooperation with the UN nuclear...

Published 03 Jun, 2024 10:54am

World

Airlines eye ‘new frontier’ of AI ahead of global summit

DUBAI: Airlines may not be replacing pilots with artificial intelligence anytime soon, but aviation industry experts...

Published 03 Jun, 2024 10:44am

Stocks

Asian markets rally on renewed US rate cut hopes

HONG KONG: Asian markets rallied and the dollar weakened on Monday as a closely watched US inflation gauge dipped in...

Published 03 Jun, 2024 10:40am

Sports

Namibia defeat Oman in T20 World Cup after super over thriller

BRIDGETOWN: Namibia scored a nerve-shredding victory over Oman in their T20 World Cup Group B clash in Barbados on...

Published 03 Jun, 2024 10:35am

Bullion Rate

Gold little changed as traders seek more data for Fed rate cues

Gold prices were little changed on Monday as traders awaited more US economic data this week, after recent data...

Published 03 Jun, 2024 10:29am

Mutual Funds

Indian benchmark yield dips below 6.95% as PM Modi likely set for third term

MUMBAI: Indian government bond yields dropped marginally in the early session on Monday as investor sentiment was...

Published 03 Jun, 2024 10:22am

Forex

Indian rupee set to rally after exit polls predict Modi win

MUMBAI: The Indian rupee is expected to rally at the open on Monday after exit polls indicated a third term for...

Published 03 Jun, 2024 10:17am

Stocks

Miners, banks drive Australian shares higher

Australian shares advanced on Monday, boosted by mining and financial stocks, as investor optimism improved after...

Published 03 Jun, 2024 10:14am

Stocks

Japan’s Nikkei tracks Wall Street higher on broad-based rally

TOKYO: Japan’s Nikkei share average rose on Monday, buoyed by a stellar performance on Wall Street as investors held...

Published 03 Jun, 2024 10:12am

Stocks

Likely Modi win to boost Indian infrastructure, manufacturing stocks

BENGALURU: Indian shares are set to open higher on Monday with analysts expecting gains in infrastructure, capital...

Published 03 Jun, 2024 10:11am

Forex

Currencies tread cautiously after US inflation report, focus on ECB

SINGAPORE: The currency market started the week cautiously, with the dollar slightly lower on Monday after data last...

Published 03 Jun, 2024 10:00am

Export-oriented sectors: MoC advocates concessional power tariff

Says key industrial export sectors of Pakistan struggling to recover and gain lost share in global markets

Updated 03 Jun, 2024 09:35am

Prime Minister’s functions: PMO issues guidelines for invited foreign guests

ISLAMABAD: Prime Minister Office (PMO) has reportedly issued guidelines for invited foreign guests to Prime...

Updated 03 Jun, 2024 09:33am

China lands on moon’s far side in historic sample-retrieval mission

BEIJING: China landed an uncrewed spacecraft on the far side of the moon on Sunday, overcoming a key hurdle in its...

Updated 03 Jun, 2024 09:32am

KPCL approaches Nepra to get its indexations approved

ISLAMABAD: Karot Power Company Limited (KPCL) has approached National Electric Power Regulatory Authority (Nepra) to...

Updated 03 Jun, 2024 09:23am

OPEC+ extends deep oil production cuts into 2025

LONDON/DUBAI: OPEC+ agreed on Sunday to extend most of its deep oil output cuts well into 2025 as the group seeks to...

Updated 03 Jun, 2024 09:21am

PM to visit China on 4th

ISLAMABAD: Prime Minister Shehbaz Sharif will leave for China on official visit on June 4. Prime Minister Shehbaz...

Updated 03 Jun, 2024 09:15am

FBR to upgrade IT infrastructure through World Bank lending

ISLAMABAD: The Federal Board of Revenue (FBR) will modernise its IT infrastructure, set up new data centres and...

Updated 03 Jun, 2024 09:13am

Investors flock to Aramco share sale that could raise $13bn

DUBAI: Saudi Arabia’s sale of shares in oil giant Aramco drew more demand than the stock on offer within hours of...

Updated 03 Jun, 2024 08:59am

Maldives to ban Israelis to protest Gaza war

MALÉ, (Maldives): The Indian Ocean nation of the Maldives will ban Israelis from the luxury tourist hot spot, the...

Updated 03 Jun, 2024 08:59am

Cathay Pacific looking to add more Belt and Road destinations: CEO

DUBAI: Airline Cathay Pacific is looking to add more destinations on China’s Belt and Road project, CEO Ronald Lam...

Updated 03 Jun, 2024 08:58am

Chile joins S African case against Israel at top UN court

VALPARAÍSO, (Chile): Chilean President Gabriel Boric said Saturday his country was joining South Africa in its case...

Updated 03 Jun, 2024 08:54am

BR’s refresher: your morning briefing for the day

Important updates from June 1 and June 2, 2024

Published 03 Jun, 2024 08:42am

BR Research

Low demand at the heart of periodic adjustments

Of Rs52 billion sought by the power distribution companies on account of the quarterly tariff adjustments for...

Published 03 Jun, 2024 08:41am

BR Research

High taxation cannibalizing juices export potential

One key ingredient for moving on a sustainable economic growth path is to develop the agriculture value chains by...

Published 03 Jun, 2024 08:37am

BR Research

Interview with Shoaib Nizami, CEO - Sports in Pakistan (SIP)

‘SIP paves the way for a brighter, more prosperous future for sports in Pakistan’ Shoaib Nizami is an entrepreneur...

Published 03 Jun, 2024 08:35am

South Asia

Modi eyes election victory, top opponent back behind bars

NEW DELHI: A top opponent of Indian Prime Minister Narendra Modi vowed Sunday to keep fighting “dictatorship”...

Updated 03 Jun, 2024 07:04am

Opinion

‘Strategic’ SOEs bereft of strategic merits

“There is no such thing as a strategic SOE.” This statement by Finance Minister Aurangzeb is spot on. However,...