News Archives for Latest - 2024-06-10

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Archive - 2024-06-10

Cricket

South Africa edge Bangladesh by four runs at T20 World Cup

NEW YORK: South Africa defeated Bangladesh by just four runs in another low-scoring game at the T20 World Cup on...

Updated 10 Jun, 2024 11:46pm

Markets

Start of monetary easing: experts weigh in on SBP’s decision to cut key policy rate

Development comes a couple of days ahead of budget announcement

Updated 10 Jun, 2024 11:03pm

Markets

First cut in 4 years: SBP reduces key policy rate by 150 basis points, takes it to 20.5%

Says significant decline in inflation since February broadly in line with expectations, but May outturn was better than anticipated

Updated 10 Jun, 2024 11:01pm

Pakistan

Sharif brothers felicitate Indian PM for third term, Modi responds

Prime Minister Shehbaz Sharif and his elder brother Nawaz Sharif felicitated on Monday Narendra Modi who took oath...

Updated 10 Jun, 2024 10:59pm

Energy

CCP approves Artistic Milliners’ acquisition of Tenaga Generasi Limited

The Competition Commission of Pakistan (CCP) has approved the acquisition of 100% shareholding of Tenaga Generasi...

Published 10 Jun, 2024 09:27pm

Pakistan

Govt will use resources optimally for economic revival, says PM Shehbaz

Premier says the federation will ensure consultations with the provinces and other stakeholders in all key decisions

Published 10 Jun, 2024 09:26pm

Energy

Oil prices gain 2% to one-week high on hopes of higher summer fuel demand

NEW YORK: Oil prices climbed about 2% to a one-week high on Monday, buoyed by hopes of rising fuel demand this...

Updated 10 Jun, 2024 09:18pm

Middle East

UN Security Council to vote Monday on US Gaza ceasefire resolution

UNITED NATIONS: The United Nations Security Council will vote Monday afternoon on a US-drafted resolution that backs...

Published 10 Jun, 2024 09:11pm

Middle East

Hezbollah says it shoots down Israeli drone over Lebanon

JERUSALEM: Lebanon’s Hezbollah said its air defences downed an Israeli attack drone over southern Lebanon on Monday,...

Published 10 Jun, 2024 08:31pm

South Asia

Indian PM unveils coalition cabinet dominated by his party

NEW DELHI: Indian Prime Minister Narendra Modi unveiled Monday his coalition government after a surprise election...

Updated 10 Jun, 2024 08:23pm

Sports

Andy Murray expected to team up with brother Jamie at Wimbledon

LONDON: Andy Murray is expected to team up with brother Jamie to play doubles at Wimbledon in what is likely to be...

Published 10 Jun, 2024 08:18pm

Exchange

Rupee depreciates marginally against US dollar

Currency settles at 278.37 against the greenback in inter-bank market

Updated 10 Jun, 2024 08:06pm

Stocks

Gulf markets end mixed; Egypt snaps losing streak

Stock markets in the Gulf put a mixed performance on Monday amid rising oil prices, while strong U.S. jobs data...

Published 10 Jun, 2024 07:59pm

South Asia

Indian PM Modi’s government retains Sitharaman as finance minister

NEW DELHI: Indian Prime Minister Narendra Modi’s new coalition government on Monday appointed Nirmala Sitharaman as...

Published 10 Jun, 2024 07:52pm

Middle East

Blinken urges Middle East leaders to press Hamas for Gaza ceasefire

CAIRO: US Secretary of State Antony Blinken said on Monday, as he began a trip to the Middle East, that he was...

Updated 10 Jun, 2024 07:21pm

Business & Economy

Pakistan’s budget on Wednesday will aim to set stage for IMF bailout, say analysts

ISLAMABAD: Pakistan’s coalition government is expected to lay out ambitious fiscal targets in the 2024/2025...

Updated 10 Jun, 2024 07:16pm

Stocks

US stocks open lower following drop in European bourses

NEW YORK: Wall Street stocks opened lower on Monday as the market looks ahead to a Federal Reserve interest rate...

Published 10 Jun, 2024 07:01pm

Pakistan

Dar to visit Jordan to participate in high-level conference on Gaza

Deputy Prime Minister and Foreign Minister Ishaq Dar will depart on Monday for Jordan to participate in the...

Updated 10 Jun, 2024 06:13pm

Middle East

Gaza health ministry says war death toll at 37,124

The health ministry in Hamas-run Gaza said Monday that at least 37,124 people have been killed in the territory...

Published 10 Jun, 2024 06:07pm

Stocks

KSE-100 down over 500 points on monetary policy uncertainty, budget measures

Uncertainty on government measures in the upcoming budget and the key policy rate played on the minds of investors...

Updated 10 Jun, 2024 05:49pm

Sports

Swiatek reinforces No.1 spot in WTA rankings

PARIS: French Open champion Iga Swiatek cemented her place at the top of the women’s game with her victory at Roland...

Published 10 Jun, 2024 05:08pm

Stocks

Energy, financial stocks power gains in Sri Lankan shares

BENGALURU: Sri Lankan shares closed higher on Monday, boosted by gains in energy and financial stocks. The CSE...

Published 10 Jun, 2024 04:57pm

Travel

Cuba woos Russians, Chinese to revive ailing tourist sector

HAVANA: Russian tourist Serguei Boyaryshnic wandered in awe among the pastel-colored buildings and cobblestone...

Published 10 Jun, 2024 04:41pm

Stocks

Indian shares slip after election results rally, IT weighs

BENGALURU: Indian shares ended lower on Monday, weighed down by IT stocks on U.S. rate cut concerns, easing from...

Published 10 Jun, 2024 04:40pm

Europe

Russia claims capture of southeastern Ukraine village

MOSCOW: Russia on Monday claimed the capture of a village in the south of the eastern Donetsk region. The defence...

Published 10 Jun, 2024 04:38pm

Commodities

Copper recovers from five-week lows with fundamentals in focus

LONDON: Copper recovered from five-week lows on Monday, bouncing from initial declines as market focus shifted to...

Published 10 Jun, 2024 04:36pm

Commodities

Palm oil falls on weaker soyoil, lower June exports estimates

SINGAPORE: Malaysian palm oil futures tracked Chicago soyoil lower on Monday, while lower estimations of Malaysian...

Published 10 Jun, 2024 04:32pm

Stocks

European stocks, euro drop on EU vote turmoil

LONDON: Europe’s stock markets and the euro slid Monday after far-right parties performed well in EU elections,...

Updated 10 Jun, 2024 04:25pm

Sports

Snap French elections will not disturb Paris Olympics: Bach

PARIS: International Olympic Committee President Thomas Bach said on Monday that snap French parliamentary elections...

Published 10 Jun, 2024 03:44pm

Forex

South African rand treads water as unity government talks continue

JOHANNESBURG: The South African rand was steady in early trade on Monday, as investors looked for more clarity from...

Published 10 Jun, 2024 03:31pm

Business & Finance

Philippine economy to grow 6% this year, monetary policy should stay tight, IMF says

MANILA: The International Monetary Fund said on Monday the Philippines’ gross domestic product (GDP) is expected to...

Published 10 Jun, 2024 03:13pm

Business & Finance

ECB can sit out the summer before contemplating next rate cut, Kazimir says

FRANKFURT: The European Central Bank should sit out the summer before contemplating another interest rate cut as...

Published 10 Jun, 2024 03:10pm

Stocks

Most Gulf markets rise in early trade on firmer oil prices

Most stock markets in the Gulf were up in early trading on Monday, led by the Qatar index, as hopes of rising fuel...

Published 10 Jun, 2024 03:09pm

Bullion Rate

Gold unchanged at Rs239,400 per tola in Pakistan

After registering a massive decrease in the previous session, gold prices remained unchanged in Pakistan as the...

Published 10 Jun, 2024 02:29pm

South Asia

India’s heatwave longest ever, worse to come

NEW DELHI: India’s heatwave is the longest ever to hit the country, the government’s top weather expert said Monday...

Published 10 Jun, 2024 02:08pm

Movies & Music

‘Bad Boys’ tops North American box office in boost for Will Smith

LOS ANGELES: Will Smith marked his first major film hit since his infamous Oscars slap as ‘Bad Boys: Ride or Die’...

Published 10 Jun, 2024 01:45pm

Commodities

China May soybean imports fall 11.6% on year, customs data shows

BEIJING: China imported 10.22 million metric tons of soybeans in May, customs data showed on Friday, below the...

Published 10 Jun, 2024 01:34pm

Europe

Vladimir Putin to visit North Korea, Vietnam in coming weeks, Vedomosti newspaper says

MOSCOW: Russian President Vladimir Putin will visit North Korea and Vietnam in the coming weeks, the Vedomosti...

Published 10 Jun, 2024 01:31pm

Europe

Turkiye unemployment dips to 8.5% in April

Turkiye unemployment rate fell 0.1 percentage points month-on-month to 8.5% in April, official data showed on...

Published 10 Jun, 2024 01:30pm

Sports

Pakistan coach Gary Kirsten defends New York surface

NEW YORK: Pakistan coach Gary Kirsten defended the playing surface at New York’s T20 Cricket World Cup venue on...

Updated 10 Jun, 2024 01:27pm

Middle East

US in Gaza ceasefire push with UN vote, Mideast tour

GAZA STRIP: The United States stepped up pressure Monday for a Gaza ceasefire with a call for a UN Security Council...

Updated 10 Jun, 2024 01:19pm

Commodities

Copper hits lowest in more than five weeks on firm dollar

Most non-ferrous metals prices fell on Monday, with London copper hitting its lowest in more than five weeks, amid a...

Published 10 Jun, 2024 01:07pm

Sports

England squad has enough experience for success at Euro 2024: Kane

Half of Gareth Southgate’s England squad for Euro 2024 have never played at a major tournament but captain Harry...

Published 10 Jun, 2024 01:06pm

Commodities

Indonesia sees rice output down in June, July compared to last year

JAKARTA: Indonesia sees rice production in June and July dropping on an annual basis, the head of its food agency...

Published 10 Jun, 2024 01:03pm

Forex

Indonesian rupiah at 4-year low; other Asian FX dip ahead of key data

Indonesian rupiah hit a fresh four-year low on Monday and led losses among emerging Asian currencies, partially...

Published 10 Jun, 2024 01:00pm

Mutual Funds

JGB yields track US peers higher; BOJ decision looms

TOKYO: Japanese government bond yields rose sharply on Monday, tracking a jump in Treasury yields after robust US...

Published 10 Jun, 2024 12:58pm

Stocks

British equities fall ahead of slew of economic data

London stocks dipped on Monday as investors await a slew of key domestic economic data this week, while life insurer...

Published 10 Jun, 2024 12:54pm

Forex

Russian rouble strengthens slightly against the dollar

MOSCOW: The Russian rouble strengthened slightly against the US dollar on Monday. By 0715 GMT the rouble had gained...

Published 10 Jun, 2024 12:53pm

Sports

‘Genius’ Bumrah does it again for India at T20 World Cup

EAST MEADOW: Jasprit Bumrah appears blissfully unaware of the popular perception that T20 cricket is a...

Published 10 Jun, 2024 12:51pm

Europe

Swiss summit on Ukraine set to thrash out path to peace

GENEVA: Switzerland will stage a conference on Ukraine this coming weekend, with world leaders set to discuss how to...

Published 10 Jun, 2024 12:12pm

Europe

Italy’s far-right Giorgia Meloni emerges stronger from EU vote

ROME: Giorgia Meloni’s far-right party won a decisive victory in European elections in Italy, early results showed...

Published 10 Jun, 2024 12:07pm

Technology

Apple to break AI silence at developers conference

SAN FRANCISCO: Apple on Monday will attempt to persuade doubters on its AI strategy after rivals raced ahead in...

Published 10 Jun, 2024 12:03pm

Sports

Manny Pacquiao in talks over comeback but title fight ‘far away’

TOKYO: Boxing great Manny Pacquiao said Monday that he is in negotiations to make a comeback but cautioned that a...

Published 10 Jun, 2024 12:01pm

Europe

Macron says French will ‘make the right choice’ in snap polls

PARIS: President Emmanuel Macron said Monday he was confident the French would make the right choice in snap...

Published 10 Jun, 2024 11:59am

Asia

North Korea sends more balloons as Kim’s sister warns of ‘new counteraction’

SEOUL: North Korea sent hundreds more trash-carrying balloons over the border, Seoul’s military said Monday, after...

Published 10 Jun, 2024 11:57am

KE issues stern warning to Sindh govt over dues

ISLAMABAD: Karachi Electric (KE) has warned the federal and Sindh governments of massive power breakdowns and...

Updated 10 Jun, 2024 11:14am

Massive installation of solar systems: Govt facing an impossible situation?

Bureaucracy portrays solarisation as catastrophic for the country’s existing power sector

Updated 10 Jun, 2024 11:13am

Cricket

‘Lacking self-belief’: experts react to yet another Pakistan defeat

Pakistan crumbled under pressure as they failed to chase down a meagre 120-run target against archrivals India in a...

Updated 10 Jun, 2024 11:04am

Commodities

Wheat falls to trade near 5-week low as Turkey bans imports

SINGAPORE: Chicago wheat lost more ground on Monday, with prices trading near their lowest in a month as Turkey’s...

Published 10 Jun, 2024 10:58am

Sports

Argentina ease past Ecuador 1-0 in Copa America warm-up

A goal from Angel Di Maria earned Argentina a comfortable 1-0 win over Ecuador in a pre-Copa America friendly in...

Published 10 Jun, 2024 10:50am

Asia

South Korea’s Yoon heads to Central Asia for talks on energy, minerals

SEOUL: South Korean President Yoon Suk Yeol embarked on a trip to Central Asia on Monday to hold talks on...

Published 10 Jun, 2024 10:48am

Mutual Funds

India bond yields seen rising tracking US peers

MUMBAI: Indian government bond yields are expected to rise in early trading at the start of the week, tracking a...

Published 10 Jun, 2024 10:45am

Forex

Indian rupee seen weaker after US jobs data casts doubts on Fed rate cuts

MUMBAI: The Indian rupee is expected to open lower on Monday, after jobs data indicated that the US labour market...

Published 10 Jun, 2024 10:43am

Commodities

Palm oil falls on weaker soyoil and crude oil

SINGAPORE: Malaysian palm oil futures tracked Chicago soyoil and crude oil lower on Monday, although a weaker...

Published 10 Jun, 2024 10:39am

World

New Zealand PM says China Premier Li Qiang to visit this week

WELLINGTON: New Zealand Prime Minister Christopher Luxon said on Monday that China’s Premier Li Qiang would visit...

Published 10 Jun, 2024 10:35am

Business & Finance

Malaysia’s April industrial production up 6.1%, fastest in 19 months

KUALA LUMPUR: Malaysia’s industrial production index in April rose 6.1% from a year earlier, its fastest pace in 19...

Published 10 Jun, 2024 10:32am

Bullion Rate

Gold holds steady after biggest sell-off in 3-1/2 years

Gold prices held steady on Monday after a sharp sell-off in the previous session on stronger-than-expected US jobs...

Published 10 Jun, 2024 10:26am

Stocks

Asia shares stumble; political uncertainty grips euro

SINGAPORE: Asian stocks sank on Monday as traders heavily pared back on bets for Federal Reserve rate cuts this year...

Published 10 Jun, 2024 10:24am

Stocks

Japan’s Nikkei edges up as financials, export shares rise

TOKYO: Japan’s Nikkei share average edged up on Monday as export-related stocks rose on a weaker yen following...

Published 10 Jun, 2024 10:05am

Stocks

Indian shares open higher led by financials and autos

BENGALURU: Indian shares bucked wider Asia trends to hit record highs on Monday as investors focused on domestic...

Published 10 Jun, 2024 10:03am

Stocks

New Zealand shares fall as hopes of early Fed rate cut fade; Australia closed

New Zealand shares fell for a third session on Monday, led by healthcare and energy stocks, after...

Published 10 Jun, 2024 09:59am

Forex

Euro slips to one-month low as Macron calls French election

SINGAPORE: The euro fell on Monday as the French President Emmanuel Macron called a shock election after being...

Published 10 Jun, 2024 09:55am

NEC to approve development plan, growth target today

ISLAMABAD: The National Economic Council (NEC) meeting has been convened today (Monday) to consider and approve...

Updated 10 Jun, 2024 09:23am

Mining, oil and gas: Pakistan, China agree to strengthen cooperation

BEIJING: China and Pakistan have agreed to boost mining cooperation and promote the implementation of a pact on...

Updated 10 Jun, 2024 09:21am

Business & Finance

Budget: Rs65.6bn proposed for Suparco

ISLAMABAD: The government of Pakistan has proposed allocating Rs 65.617 billion for Space and Upper Atmosphere...

Updated 10 Jun, 2024 09:20am

Iesco issues list of govt sector defaulters

ISLAMABAD: Islamabad Electric Supply Company (Iesco) has issued list of Ministries/ Organisations/Departments, which...

Updated 10 Jun, 2024 09:19am

Peshawar: prices of essential food items remain almost unchanged

PESHAWAR: Prices of essential food commodities, like live chicken/meat, flour vegetables, pulses, farm eggs and...

Updated 10 Jun, 2024 09:03am

5-year plan to be submitted to NEC

ISLAMABAD: The government has reportedly prepared five-year (2024-2029) plan, which would be submitted to the...

Updated 10 Jun, 2024 09:02am

US, KSA close to finalising draft security treaty

WASHINGTON: The Biden administration is close to finalizing a treaty with Saudi Arabia that would commit the US to...

Updated 10 Jun, 2024 08:41am

Budget to protect salaried, low-income classes: govt

ISLAMABAD: Minister of State for Finance, Revenue, and Power Division, Ali Pervaiz Malik, said on Sunday that the...

Updated 10 Jun, 2024 08:40am

Business & Finance

Rise in tax on import of cell phones likely

ISLAMABAD: The government is likely to increase duties and taxes on the commercial import of mobile phones in CKD/...

Updated 10 Jun, 2024 08:39am

BR Research

Fuel reference: Do FY25 better

As the power regulator (Nepra) okayed Rs3.33/unit in lieu of monthly Fuel Charges Adjustment (FCA) for April 2024 –...

Published 10 Jun, 2024 08:27am

BR Research

Cement: Cuts and scrapes

A 3 percent increase in sales may seem inconsequential, signaling weakness, but for the cement industry, a combined...

Published 10 Jun, 2024 08:23am

BR’s refresher: your morning briefing for the day

Important updates from June 8 and June 9, 2024

Published 10 Jun, 2024 08:21am

BR Research

Interview with Taha Magrabi, Director Q-Commerce, foodpanda Pakistan

‘Q-commerce holds immense promise with ongoing advancements in consumer behaviors and technology’ Taha Magrabi is...

Published 10 Jun, 2024 08:19am

Opinion

Equitable taxation: a precondition for meaningful economic reform

Negotiations with the IMF on the next programme are ongoing, with budget formation being an integral part of the...

Updated 10 Jun, 2024 08:18am

Opinion

Budget: inflation must be top priority

Inflation is pushing an ever increasing number below the poverty line (currently estimated at 40 percent comparable...

Updated 10 Jun, 2024 08:13am

Opinion

Policy rate decision ahead of budget presentation

State Bank of Pakistan (SBP) will be making its monetary policy public today. As May inflation has already dropped...

Updated 10 Jun, 2024 08:06am

Editorials

Improving business confidence

EDITORIAL: It’s welcome news, of course, that the 25th wave of the Business Confidence Index (BCI) conducted by ...

Updated 10 Jun, 2024 08:02am

Editorials

Export growth

EDITORIAL: The unstated economic policy is to keep the current account deficit close to zero. For that, the trade...

Updated 10 Jun, 2024 08:00am

Opinion

The plight of exporters

Most textile and apparel exporters operate on razor-thin margins, where pricing differentials are in US cents and...

Updated 10 Jun, 2024 07:58am

Pakistan

National Day of Italy celebrated in Karachi

KARACHI: The National Day of Italy was celebrated by the Consulate of Italy in Karachi at a local hotel. Governor...

Published 10 Jun, 2024 07:51am

Pakistan

Legendary voice of Radio Pakistan, Urdu newscaster Taskeen Zafar dies

ISLAMABAD: Legendary voice of Radio Pakistan, Urdu newscaster Taskeen Zafar passed away in Rawalpindi on Sunday ...

Published 10 Jun, 2024 07:49am

Pakistan

Eid-ul-Azha holidays: Drive against transporters charging excess fares begins

KARACHI: A campaign against transporters and transport operators charging extra fares will begin on Monday (today) ...

Published 10 Jun, 2024 07:49am

Pakistan

Minister directs police to implement Eid-ul-Azha security plan

KARACHI: Home Minister Sindh, Ziaul Hassan Lanjar, has issued directives to the Sindh Police to ensure the...

Published 10 Jun, 2024 07:39am

Pakistan

Zubair, PML-N come to a parting of the ways

KARACHI: In an unexpected development, former Sindh governor Muhammad Zubair parted ways with the ruling Pakistan...

Published 10 Jun, 2024 07:38am

Europe

Russia appears to make headway in key Ukrainian town of Chasiv Yar

MOSCOW: Russian forces appear to be making headway towards their longstanding goal of capturing the strategic...

Published 10 Jun, 2024 07:36am

Europe

Macron calls snap legislative elections after EU poll blow

PARIS: French President Emmanuel Macron on Sunday announced he was dissolving parliament and called snap legislative...

Published 10 Jun, 2024 07:36am

South Asia

Gunmen attack Hindu pilgrim bus in IIOJK; nine killed

OCCUPIED SRINAGAR: Gunmen ambushed a bus carrying Hindu pilgrims in Illegally Indian Occupied Jammu and Kashmir...

Published 10 Jun, 2024 07:36am

World

Trump rallies in critical state of Nevada during heatwave

LAS VEGAS: Republican presidential candidate Donald Trump will hold an outdoor rally in sweltering Las Vegas on...

Published 10 Jun, 2024 07:36am

Pakistan

The Weather

KARACHI: The weather report on Sunday (June 09, 2024) and the forecast for Monday (June 10, 2024)....