News Archives for Latest - 2024-06-06

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Pakistan

T20 World Cup 2024: USA pull off Super Over win over Pakistan

The hosts successfully defend 19-run target to cause first upset of the mega event

Updated 07 Jun, 2024 01:02am

World

US calls on Israel to be ‘transparent’ on Gaza school strike

WASHINGTON: The United States called Thursday on Israel to be transparent over a strike on a UN school in Gaza,...

Published 06 Jun, 2024 11:27pm

Pakistan

Supreme Court reserves verdict on NAB amendments plea

The Supreme Court on Thursday reserved its verdict in the National Accountability Bureau (NAB) amendments plea,...

Updated 06 Jun, 2024 10:57pm

Middle East

Eid-ul-Adha 2024: Zil Hajj moon sighted in Saudi Arabia, first day of Eid on June 16

The crescent moon of Zil Hajj has been sighted in Saudi Arabia and the first day of Eid-ul-Adha 2024 in the kingdom...

Updated 06 Jun, 2024 10:55pm

Pakistan

PM Shehbaz tells Chinese investors Pakistan taking measures to improve governance

Premier informs reform measures beginning to show results

Updated 06 Jun, 2024 10:53pm

Currency

Rupee slips lower against US dollar

Currency settles at 278.39 against greenback in inter-bank market

Updated 06 Jun, 2024 10:51pm

Stocks

Selling continues as KSE-100 loses another 357 points to close below 74,000

The Pakistan Stock Exchange (PSX) witnessed another bearish session on Thursday as its benchmark KSE-100 Index...

Updated 06 Jun, 2024 10:45pm

Forex

SBP-held foreign exchange reserves increase $16mn, now stand at $9.1bn

Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $16 million on a weekly basis,...

Updated 06 Jun, 2024 10:39pm

Pakistan

‘Proud moment’: Pakistan elected non-permanent member of UNSC for 2025-26

Pakistan will continue to play role in promoting peace, stability, and cooperation among nations, PM Shehbaz says

Published 06 Jun, 2024 09:50pm

Europe

UNICEF finds 90% of Gazan children lack food needed for proper growth

GENEVA: UNICEF said on Thursday that nine out of 10 children in Gaza could not eat nutrients from enough food groups...

Updated 06 Jun, 2024 09:01pm

Stocks

Wall Street mixed as tech stocks retreat; labor data lifts rate cut hopes

Technology stocks retreated in choppy trading on Thursday, pressuring the benchmark S&P 500 and the Nasdaq...

Published 06 Jun, 2024 08:53pm

Stocks

Gulf markets end muted; Qatar extends gain

Most stock markets in the Gulf were subdued on Thursday as investors turned cautious ahead of crucial U.S. job data...

Published 06 Jun, 2024 08:50pm

Pakistan

Govt establishes cabinet committee to oversee implementation of SIFC recommendations

PM Shehbaz to serve as chairman of the committee

Updated 06 Jun, 2024 06:59pm

Commodities

Gold price per tola increases Rs2,400 in Pakistan

After decreasing in the previous session, gold prices jumped massively in Pakistan on Thursday in line with an...

Updated 06 Jun, 2024 06:58pm

Middle East

Egypt gets ‘positive signs’ from Hamas on Gaza truce: report

CAIRO: Egypt has received encouraging signals from Hamas over a potential Gaza truce and hostage-prisoner swap with...

Published 06 Jun, 2024 06:54pm

Travel

Harry Potter offers magical boost to UK tourism

EDINBURGH: Sam Thorne guides Harry Potter fans through the gothic streets of Edinburgh, where controversial author...

Updated 06 Jun, 2024 06:18pm

Middle East

Yemen’s Houthis say they launched two operations against ships at Israel’s Haifa port

DUBAI: Yemen’s Houthi group said on Thursday it launched two joint military operations with the Iraqi Islamic...

Published 06 Jun, 2024 06:17pm

Commodities

Copper rebounds on rate cut hopes, but upside seen limited

LONDON: Copper prices rebounded on Thursday on optimism that central bank rate cuts will help economic growth though...

Published 06 Jun, 2024 05:52pm

Energy

Oil extends gains with September Fed rate cut in focus

LONDON: Oil extended gains on Thursday, as support from growing expectations of an interest rate cut from the U.S....

Updated 06 Jun, 2024 05:36pm

Markets

ECB starts cutting rates even as inflation fight continues

FRANKFURT: The European Central Bank cut borrowing costs from record highs on Thursday, acknowledging progress in...

Published 06 Jun, 2024 05:32pm

Markets

Europe rallies ahead of first ECB rate cut in nearly 5 years

LONDON: World stocks were on the brink of an all-time high and the euro rose on Thursday ahead of what was widely...

Published 06 Jun, 2024 05:26pm

Europe

Spain joins South Africa’s Gaza case at UN top court

MADRID: Spain said on Thursday that it will join South Africa’s case at the UN’s top court in which Pretoria has...

Published 06 Jun, 2024 05:18pm

Sports

Djokovic says knee operation ‘went well’, no return date set

PARIS: Novak Djokovic confirmed on Thursday he had undergone an operation on his right knee that he injured at the...

Published 06 Jun, 2024 04:57pm

Europe

US, UK, others urge Hamas to accept ceasefire proposal

The United States, Britain, Canada, Germany and several other countries have called on Hamas, which rules Gaza, to...

Published 06 Jun, 2024 04:47pm

Commodities

Asia rice: Vietnam prices curbed by growing supplies, India sees demand trickle in

Rice export prices from Vietnam were weaker this week, pressured by growing supplies from the ongoing harvest, while...

Published 06 Jun, 2024 04:39pm

Stocks

Indian shares’ recovery extends to second day with new government awaited

BENGALURU: Indian shares ended higher for the second straight day on Thursday as investors moved past shock election...

Updated 06 Jun, 2024 04:34pm

Stocks

Sri Lanka shares end higher as financials, industrials gain

CSE All-Share index settled 0.99% higher at 12,310.78

Published 06 Jun, 2024 04:32pm

Commodities

Palm oil gains on higher crude oil prices; export, output data in focus

SINGAPORE: Malaysian palm oil futures closed more than 1% higher on Thursday, tracking gains in the crude oil...

Published 06 Jun, 2024 04:29pm

Travel

Pakistanis spent $2.19bn on outbound tourism in 2023, highest in six years: report

Number comes despite massive rupee depreciation and domestic economic crisis

Published 06 Jun, 2024 04:01pm

South Asia

India’s Modi readies for third term after securing coalition

NEW DELHI: Indian Prime Minister Narendra Modi was preparing Thursday to be sworn in for a third term after an...

Updated 06 Jun, 2024 04:00pm

South Asia

Modi's allies want funds, cabinet positions as coalition gears to form new government

NEW DELHI/HYDERABAD: Parties in Indian Prime Minister Narendra Modi's alliance on Thursday demanded more funds for...

Published 06 Jun, 2024 03:59pm

Energy

Sinopec unit agrees $1.1bn deal to build gas pipelines for Saudi Aramco

A Sinopec service unit said on Thursday it has signed a 7.956 billion yuan ($1.10 billion) deal to build natural gas...

Published 06 Jun, 2024 03:14pm

South Asia

How India conducted the world’s largest election

India’s mammoth general election drew to a close on June 1. About 642 million voters cast their ballots in the...

Published 06 Jun, 2024 03:09pm

Technology

BlueEX Limited inks MoU for strategic partnership with China’s SZCBEA

Pakistan’s e-commerce logistic firm BlueEx Limited has inked a Memorandum of Understanding (MoU) for a strategic...

Updated 06 Jun, 2024 02:49pm

Companies

Treet Corporation to set up subsidiary in Dubai

Treet Corporation Limited has announced the establishment of a wholly-owned subsidiary in the United Arab Emirates...

Updated 06 Jun, 2024 02:46pm

Payments to IPPs: PPIB urges SBP to make $758m available

Independent Power Producers express serious concerns regarding delays in SBP’s approval for conversion of PKR to USD in order to fulfil their commitments/ financial obligations

Updated 06 Jun, 2024 02:41pm

Sports

Indian batters have the tools to solve New York pitch challenge, coach says

India’s batters have the skills and experience needed to navigate the challenge of playing on a tricky pitch in New...

Published 06 Jun, 2024 01:59pm

Travel

Colombian underwater ‘art gallery’ serves as coral home

ISLA FUERTE, Colombia: On the Caribbean seafloor, an unusual sculpture gallery is taking shape with an equally...

Published 06 Jun, 2024 01:50pm

Energy

OPEC head rejects criticism over oil deal, says demand is good

ST PETERSBURG: OPEC Secretary General Haitham Al Ghais on Thursday defended the recent adjustments to the OPEC+ oil...

Published 06 Jun, 2024 01:45pm

South Asia

Sri Lanka gives preliminary approval to Musk’s Starlink

COLOMBO: Sri Lanka has given Elon Musk’s Starlink, the satellite unit of SpaceX, preliminary approval to provide...

Published 06 Jun, 2024 01:41pm

Stocks

London stocks edge up in anticipation of ECB rate cut

British equities opened higher on Thursday, buoyed by expectations of a rate cut by the European Central Bank, while...

Published 06 Jun, 2024 01:38pm

Forex

Russian rouble slightly strengthens against US dollar

MOSCOW: The Russian rouble slightly strengthened against the US dollar on Thursday. By 0717 GMT, the rouble was...

Published 06 Jun, 2024 01:36pm

Forex

South African rand edges higher with focus on ANC talks

JOHANNESBURG: South Africa’s rand made a slight recovery early on Thursday, having slipped the day before when the...

Published 06 Jun, 2024 01:35pm

Stocks

European equities gain on tech boost in run-up to ECB

European shares opened higher on Thursday, boosted by technology stocks, while investors geared up for the European...

Published 06 Jun, 2024 01:34pm

Africa

Sudan’s RSF kills at least 100 in attack on village, activists say

CAIRO/DUBAI: The Sudanese paramilitary Rapid Support Forces attacked a village in Gezira State on Wednesday, killing...

Published 06 Jun, 2024 01:33pm

Sports

Euro 2024: Netherlands factfile

THE HAGUE: Factfile on the Netherlands ahead of Euro 2024, which starts on June 14: Honours: European Championship...

Published 06 Jun, 2024 12:49pm

Sports

Euro 2024: Poland factfile

WARSAW: Factfile on Poland ahead of Euro 2024, which starts on June 14: Previous Euro performances: Four...

Published 06 Jun, 2024 12:46pm

Sports

All eyes on Mbappe as France aim to live up to Euro 2024 billing

PARIS: France head into Euro 2024 as quite possibly the standout candidates to lift the trophy but their prospects...

Published 06 Jun, 2024 12:42pm

Business & Finance

ECB to start cutting rates from record highs

FRANKFURT: The European Central Bank is expected to start cutting interest rates from record highs Thursday, its...

Published 06 Jun, 2024 12:40pm

Energy

Solar investment outstrips all other power forms: IEA

PARIS: More money is pouring into solar power than all other electricity sources combined, with investments set to...

Published 06 Jun, 2024 12:39pm

Europe

Dutch voters kick off marathon EU elections

BRUSSELS: Dutch voters on Thursday kicked off a four-day election marathon across the 27 nations of the European...

Published 06 Jun, 2024 12:30pm

Europe

Ukraine drone strike halts operations at Russian refinery

MOSCOW: A Ukrainian drone attack ignited a fire at an oil refinery in southern Russia, forcing it to halt...

Published 06 Jun, 2024 12:27pm

Stocks

Hong Kong stocks lifted at open by fresh US rate hopes

HONG KONG: Hong Kong stocks climbed at the open, tracking a record close on Wall Street fuelled by a tech rally,...

Published 06 Jun, 2024 12:24pm

South Asia

UN condemns mass public flogging in Afghanistan

KABUL: The United Nations on Wednesday slammed a mass flogging of dozens of people in Afghanistan, and called on the...

Published 06 Jun, 2024 12:17pm

Sports

Uganda claim first ever T20 World Cup victory with win over PNG

GEORGETOWN: Uganda claimed their first ever T20 World Cup win with a three-wicket victory over Papua New Guinea at...

Published 06 Jun, 2024 12:12pm

Sports

Darwin Nunez hat-trick as Uruguay thrash Mexico

DENVER: Darwin Nunez scored a hat-trick as Uruguay thumped Mexico 4-0 in a Copa America warm-up friendly in Denver...

Published 06 Jun, 2024 12:02pm

Europe

Russia says one dead, dozens injured in Siberia tram collision

MOSCOW: One person died and dozens, including five children, were injured when two trams collided in Russia’s...

Updated 06 Jun, 2024 11:51am

Europe

Czech train crash kills four, injures more than 20

PRAGUE: Four people died and more than 20 were injured when a passenger train collided with a freight train in the...

Published 06 Jun, 2024 11:30am

Energy

South Korea’s KOMIPO seeks LNG for August delivery

SINGAPORE: South Korea’s Korea Midland Power Co (KOMIPO) is seeking 3.2-3.8 trillion British thermal units (TBtu) of...

Published 06 Jun, 2024 11:27am

Real Estate

Country Garden’s Hong Kong liquidation hearing further adjourned to July

HONG KONG: Embattled Country Garden said in a filing on Thursday the Hong Kong High Court had further adjourned a...

Published 06 Jun, 2024 11:22am

Business & Finance

BOJ’s Ueda reaffirms resolve to trim bond buying as bank eyes exit

Bank of Japan (BOJ) Governor Kazuo Ueda said on Thursday it would be appropriate to reduce the central bank’s bond...

Published 06 Jun, 2024 11:20am

Bullion Rate

Gold gains as US dollar, yields slip; focus on jobs data

Gold firmed on Thursday as the dollar and Treasury yields retreated on rising bets that U.S interest rate cuts may...

Published 06 Jun, 2024 11:19am

Asia

Indonesia’s Ibu volcano erupts twice, spewing red-hot lava

JAKARTA: Indonesia’s Mount Ibu volcano erupted again on Thursday, firing red bright lava and rocks into the night...

Published 06 Jun, 2024 11:17am

Stocks

Australian shares rise on easing rate-hike fears, NZ retreats

Australian shares rose on Thursday, with financials leading the gains in broad-based buying as economic growth data...

Published 06 Jun, 2024 11:16am

Commodities

Iron ore edges higher on restocking ahead of China holiday

BEIJING: Iron ore futures prices ticked up on Thursday after falling for five straight sessions, as some portside...

Published 06 Jun, 2024 11:15am

Mutual Funds

Indian bond yields dip as focus moves to US yields

MUMBAI: Indian government bond yields were lower in the early session on Thursday as focus shifted to moves in US...

Published 06 Jun, 2024 11:12am

Forex

Indian rupee pressed by equity outflows, supported by soft dollar

MUMBAI: The Indian rupee is expected to open largely unchanged on Thursday amid foreign investors taking money out...

Published 06 Jun, 2024 11:10am

Commodities

Wheat recovers from four-week low; Black Sea crops in focus

SINGAPORE: Chicago wheat inched higher on Thursday, after hitting a four-week low in the previous session on...

Published 06 Jun, 2024 11:09am

Commodities

Copper climbs back above $10,000/t on softer dollar, China demand hopes

BEIJING: Copper pries rebounded on Thursday to trade above a key threshold of $10,000 per metric ton, buoyed by a...

Published 06 Jun, 2024 11:08am

Commodities

Palm oil almost flat as monthly export, production data eyed

KUALA LUMPUR: Malaysian palm oil futures were largely unchanged on Thursday, as traders awaited export and...

Published 06 Jun, 2024 11:06am

Forex

China’s yuan firms on fresh Fed rate-cut bets; ECB policy decision on tap

SHANGHAI: China’s yuan firmed on Thursday as the dollar eased on renewed bets of a US Federal Reserve easing cycle...

Published 06 Jun, 2024 11:05am

Stocks

Asia stocks rally as rate cut bets gather momentum; ECB in focus

SINGAPORE: Asian shares gained on Thursday on rising expectations the US Federal Reserve will likely cut interest...

Published 06 Jun, 2024 11:03am

Forex

Australia, NZ dollars in demand as rate outlooks diverge

SYDNEY: The Australian and New Zealand dollars were in demand on Thursday, helping the latter climb to three-month...

Published 06 Jun, 2024 11:02am

Sports

Iga Swiatek wary of Gauff threat in French Open semis

World number one Iga Swiatek holds a commanding 10-1 record over Coco Gauff but the top seed feels the American has...

Published 06 Jun, 2024 10:59am

Sports

Marcus Stoinis shines as Australia cruise past Oman in T20 opener

BRIDGETOWN: Marcus Stoinis shone with bat and ball as Australia launched their bid for a grand slam of major cricket...

Published 06 Jun, 2024 10:54am

Stocks

Japan’s Nikkei jumps as chip-related shares track US peers higher

TOKYO: Japan’s Nikkei share average rose more than 1% on Thursday, as Tokyo Electron and other chip-related stocks...

Published 06 Jun, 2024 10:23am

Middle East

Israel says jets strike school containing Hamas compound, Gaza media says 27 killed

CAIRO/OCCUPIED JERUSALEM: Israel targeted a Gaza school on Thursday that it said contained an Hamas compound,...

Published 06 Jun, 2024 10:22am

Forex

Euro steadies ahead of ECB decision, dollar dips

SINGAPORE: The euro firmed a touch on Thursday ahead of a policy decision from the European Central Bank (ECB) where...

Published 06 Jun, 2024 09:58am

Five-day China visit: PM vows security to investments, individuals

Highlights bilateral trade and investment potential, especially in key sectors

Updated 06 Jun, 2024 09:31am

AGP office distances itself from ‘award in favour of SHPL’

ISLAMABAD: The Office of Attorney General for Pakistan is said to have distanced itself with respect to strategy to...

Updated 06 Jun, 2024 09:14am

Russians discussing with SIFC wide range of trade ties

ISLAMABAD: Russians are reportedly engaged with Special Investment Facilitation Council (SIFC) to discuss avenues of...

Updated 06 Jun, 2024 09:13am

Delay in release of imported cotton: APTMA seeks PM’s intervention

ISLAMABAD: The All Pakistan Textile Mills Association (APTMA) has sought the prime minister’s intervention to...

Updated 06 Jun, 2024 09:10am

$130 per metric ton customs value fixed on Pink Rock Salt’s export

ISLAMABAD: The Directorate of Customs Valuation Lahore has fixed customs value of $130 per metric ton (PMT) on the...

Updated 06 Jun, 2024 09:10am

Pakistan, China sign 32 agreements in ‘historic moment’

ISLAMABAD: During the current visit of the prime minister of Pakistan to China, the promotion of business activities...

Updated 06 Jun, 2024 09:09am

Pakistan keen to access Chinese capital markets: Aurangzeb

ISLAMABAD: Finance Minister Muhammad Aurangzeb said on Wednesday that Pakistan was keen to access Chinese capital...

Updated 06 Jun, 2024 08:40am

FBR finalises revised GST schedules for budget

ISLAMABAD: The Federal Board of Revenue (FBR) has finalised revised sales tax schedules, ie, Sixth Schedule...

Updated 06 Jun, 2024 08:40am

Mobilising finance via PPPs: ADB approves $250m policy-based loan

ISLAMABAD: The Asian Development Bank (ADB) has approved a $250 million policy-based loan to help the government of...

Updated 06 Jun, 2024 08:39am

NA budget session begins today

ISLAMABAD: The National Assembly budget 2024-25 session will be held today (Thursday). President Asif Ali Zardari...

Updated 06 Jun, 2024 08:39am

BR’s refresher: your morning briefing for the day

Important updates from June 5, 2024

Published 06 Jun, 2024 08:39am

BR Research

Ittefaq Iron Industries Limited

Ittefaq Iron Industries Limited (PSX: ITTEFAQ) was incorporated in Pakistan as a private limited company in 2004 and...

Published 06 Jun, 2024 07:46am

BR Research

Oil sales recover

Monthly petroleum consumption has picked up a bit when looked at the monthly trend, and year-on-year trend recently....

Published 06 Jun, 2024 07:14am

BR Research

Cement: Nary a sign of growth

Latest recorded offtake for May 24 shows a marked improvement in dispatches, and not just that in the exports...

Published 06 Jun, 2024 07:08am

Opinion

The burgeoning burden of capacity payments

As Pakistan prepares for a significant increase in electricity prices next year, driven by further rupee devaluation...