News Archives for Latest - 2024-06-12

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Archive - 2024-06-12

Budgets

Budget 2024-25: income tax calculator for FY25

Fear has come to life as govt proposes revised composition of tax slabs for salaried persons in FY25. Business Recorder helps you calculate what you can expect on the 1st of each month in the coming fiscal year

Updated 01 Jul, 2024 05:00pm

Sports

Yadav, Arshdeep star as India beat USA to reach T20 World Cup second round

NEW YORK: Suryakumar Yadav hit an unbeaten half-century and left-arm seamer Arshdeep Singh claimed a career-best 4-9...

Updated 13 Jun, 2024 12:40am

Business & Economy

Budget 2024-25 updates: Pakistan targets 3.6% growth, 38% higher FBR taxes as Aurangzeb presents proposals

Finance Minister Muhammad Aurangzeb announced Pakistan’s federal budget 2024-25, targeting a modest 3.6% growth for...

Updated 12 Jun, 2024 11:56pm

Business & Finance

Follow Business Recorder’s entire coverage of Budget 2024-25

Published 12 Jun, 2024 10:56pm

Budgets

Budget 2024-25: govt shifts to price-based car taxation, end of concessions for imported hybrids

The Pakistani government announced a shift in car taxation policy as part of its latest budget 2024-25 proposals....

Published 12 Jun, 2024 10:52pm

Business & Finance

Rs75bn allocated for AJK, GB, Rs64bn for tribal districts

Finance minister Muhammad Aurangzeb says fifty billion rupees are set aside for the production sector including agriculture

Updated 12 Jun, 2024 10:30pm

Exchange

Gold price per tola increases Rs600 in Pakistan

Gold prices increased in Pakistan on Wednesday in line with the increase in the international rate. In the local...

Updated 12 Jun, 2024 10:28pm

Exchange

Rupee declines marginally against US dollar

Currency settles at 278.61 against the greenback in inter-bank market

Updated 12 Jun, 2024 10:20pm

Business & Economy

Budget 2024-25: Pakistan eyes over $20bn in external financing

Authorities in Islamabad have budgeted Rs5.685 trillion or over $20.3 billion to be acquired through external...

Published 12 Jun, 2024 10:20pm

Budgets

Fear comes alive: all salaried persons earning over Rs50k a month to bear higher taxation in FY25

Govt maintains number of tax slabs at 6 and exemption till Rs50,000, but increases tax liability for all other salary earners

Updated 12 Jun, 2024 10:15pm

Energy

Oil little changed as surprise crude stock build caps gains

HOUSTON: Oil prices were broadly steady on Wednesday after three key forecasters predicted that global oil...

Updated 12 Jun, 2024 09:45pm

Stocks

London stocks rise as early rate cut bets revive; Fed decision in focus

London stocks rebounded on Wednesday on revived hopes of interest rate cuts in the near future after data showed...

Published 12 Jun, 2024 09:40pm

Stocks

European shares gain as cool US data bolsters Fed rate cut hopes

European shares advanced on Wednesday, with rate-sensitive sectors like real-estate jumping after a cool U.S....

Published 12 Jun, 2024 09:37pm

Budgets

Access the Finance Bill 2024 here

Updated 12 Jun, 2024 09:35pm

Europe

Biden, Zelensky to sign security deal at G7: White House

ABOARD AIR FORCE ONE: US President Joe Biden and his Ukrainian counterpart Volodymyr Zelensky will sign a bilateral...

Published 12 Jun, 2024 09:10pm

Stocks

KSE-100 rises over 200 points ahead of budget announcement

Market participants at the Pakistan Stock Exchange (PSX) seemed to have somewhat shrugged off concerns pertaining to...

Updated 12 Jun, 2024 08:41pm

Energy

Pakistan unlikely to buy spot LNG in summer despite simmering heat: Musadik Malik

Islamabad also trying to access less expensive natural gas by building a pipeline with Iran, but wary of sanctions, petroleum minister says

Updated 12 Jun, 2024 08:40pm

Europe

Zelensky lands in Saudi on unannounced visit: state media

RIYADH: Ukrainian President Volodymyr Zelensky travelled to Saudi Arabia on Wednesday, Saudi state media reported,...

Published 12 Jun, 2024 08:29pm

Stocks

US stocks rise after May inflation drop

NEW YORK: Wall Street stocks jumped early Wednesday after US data showed lower inflation in May ahead of a Federal...

Published 12 Jun, 2024 08:05pm

Pakistan

April 1-June 10: security forces have killed 181 terrorists across Pakistan, says report

7,000 operations carried out in different parts of Sindh, Khyber Pakhtunkhwa and Balochistan

Updated 12 Jun, 2024 07:32pm

Middle East

Hamas seeking US guarantees over Gaza ceasefire plan

Hamas wants written guarantees from the United States for a permanent ceasefire and the withdrawal of Israeli forces...

Updated 12 Jun, 2024 07:29pm

Stocks

Most Gulf shares slip as Fed meet in focus

Most stock markets in the Gulf ended lower on Wednesday as investors turned cautious ahead of the Federal Reserve’s...

Published 12 Jun, 2024 07:26pm

Stocks

Sri Lankan shares edge lower as communication services stocks drag

BENGALURU: Sri Lankan shares closed lower on Wednesday, snapping a six-session gaining streak, as communication...

Published 12 Jun, 2024 07:23pm

Commodities

Copper prices rise as cooling US inflation boosts rate cut hopes

LONDON: Copper prices bounced on Wednesday and the dollar tumbled after cooler-than-expected U.S. inflation data...

Published 12 Jun, 2024 07:16pm

South Asia

Bangladesh court indicts Nobel laureate Yunus in graft case

DHAKA: Bangladeshi Nobel peace laureate Muhammad Yunus was indicted in a corruption case on Wednesday, the latest...

Published 12 Jun, 2024 06:13pm

Money & Banking

Bank holidays: SBP announces three-day closure for Eid-ul-Adha 2024

The State Bank of Pakistan (SBP) announced on Wednesday a three-day holiday on account of Eid-ul-Adha 2024. “The...

Published 12 Jun, 2024 06:04pm

Business & Economy

Taxes galore: experts stress on promoting industrialisation, reducing expenditure

Finance Minister Muhammad Aurangzeb will announce budget proposals for the coming fiscal year in a short while...

Updated 12 Jun, 2024 05:32pm

Companies

Apple becomes the first $1 trillion global brand, Nvidia’s value triples, report says

Apple has become the first brand to cross $1 trillion in brand value, a 15% jump from last year, while chipmaker...

Published 12 Jun, 2024 05:16pm

Stocks

European stock markets rebound as focus switches to US

LONDON: European stock markets rebounded slightly and leading Asian indices closed mixed Wednesday, as attention...

Updated 12 Jun, 2024 05:15pm

Europe

Ukraine says it hit three Russian air defence systems in occupied Crimea

Ukraine’s military said on Wednesday it had hit three Russian surface-to-air missile systems in Russian-occupied...

Published 12 Jun, 2024 05:01pm

Stocks

State-run firms boost India’s Nifty 50 to record closing high; inflation, Fed eyed

BENGALURU: India’s benchmark index Nifty 50 surged to record closing high on Wednesday, boosted by state-owned...

Published 12 Jun, 2024 04:47pm

Commodities

Palm oil tracks rivals soy oil and crude oil higher

SINGAPORE: Malaysian palm oil futures extended gains on Wednesday, tracking higher soyoil and crude oil prices. The...

Published 12 Jun, 2024 04:44pm

Pakistan

Truckload of sacrificial goats robbed in Karachi

A truck loaded with sacrificial goats was robbed on Wednesday in Gulistan-e-Johar area, Aaj News reported. A per the...

Published 12 Jun, 2024 04:31pm

Travel

Ancient Greek sanctuary slowly sinks into the Aegean Sea

ISLAND OF DELOS, Greece: A brief boat ride from the thrumming nightclubs of Mykonos lies the UNESCO heritage site of...

Updated 12 Jun, 2024 04:28pm

Literature

US Library of Congress spotlights its American ‘treasures’

WASHINGTON: The US Library of Congress houses more than just books, with a new exhibit opening this week...

Published 12 Jun, 2024 04:26pm

Forex

Sterling ekes out gain as investors look beyond soft growth figures

LONDON: The pound edged higher on Wednesday even as data showed economic growth stagnated at the start of the second...

Published 12 Jun, 2024 03:38pm

Sports

‘In our best interest’ to see England suffer early exit, says Hazlewood

NORTH SOUND: Australia fast bowler Josh Hazlewood believes “it’s in our best interest” to see defending champions...

Published 12 Jun, 2024 03:22pm

Middle East

Fire in Kuwaiti building housing workers kills 41, deputy PM says

DUBAI: A fire that broke out in a building housing workers in the city of Mangaf in southern Kuwait early on...

Updated 12 Jun, 2024 03:18pm

Business & Finance

Sri Lanka to start talks with Malaysia on free trade agreement

COLOMBO: Sri Lanka will start talks on a free trade agreement with Malaysia as it seeks to improve trade ties to...

Published 12 Jun, 2024 03:16pm

Commodities

Malaysia keeps July crude palm oil export duty at 8%

KUALA LUMPUR: Malaysia has maintained its July export tax for crude palm oil at 8% and lowered its reference price,...

Published 12 Jun, 2024 02:44pm

USA

Biden heads to G7 summit focused on Ukraine aid, China’s support for Russia

WASHINGTON: US President Joe Biden flies to Italy on Wednesday for meetings with Group of Seven leaders aimed at...

Published 12 Jun, 2024 02:43pm

Commodities

Copper prices bounce ahead of US inflation data, Fed meet

LONDON: Copper prices bounced on Wednesday as the dollar steadied ahead of key US inflation data and a decision on...

Published 12 Jun, 2024 02:41pm

Rs12trn tax collection target likely

Finance Bill 2024 to be revealed today

Updated 12 Jun, 2024 02:32pm

Govt all set to present over Rs18trn budget today

ISLAMABAD: The incumbent government is all set to present its first growth-oriented federal budget for the fiscal...

Updated 12 Jun, 2024 02:32pm

Movies & Music

Celine Dion resolved to perform again, ‘even if I have to crawl’

NEW YORK: Celine Dion is determined to return to singing onstage despite suffering from a rare neurological...

Published 12 Jun, 2024 02:08pm

Forex

Kenya’s shilling firms; tea exporter dollar inflows help

NAIROBI: Kenya’s shilling gained ground on Wednesday, boosted by dollar inflows from tea exporters and low importer...

Published 12 Jun, 2024 02:06pm

Stocks

Gulf bourses muted in early trade; Fed meet eyed

Most stock markets in the Gulf were subdued in early trading on Wednesday as investors turned cautious ahead of US...

Published 12 Jun, 2024 02:04pm

Stocks

China stocks edge up, Hong Kong down on mild inflation data, trade worries

SHANGHAI: China stocks edged up at close, while Hong Kong shares fell on Wednesday after data showed consumer prices...

Published 12 Jun, 2024 02:02pm

South Asia

India’s fizzling monsoon could prolong heatwave in north, sources say

MUMBAI: India’s monsoon rains have lost momentum after covering western regions ahead of schedule, and their arrival...

Published 12 Jun, 2024 01:48pm

Middle East

Antony Blinken heads to key mediator Qatar after Hamas truce deal reply

AMMAN: US Secretary of State Antony Blinken was heading on Wednesday to talks in key mediator Qatar after Hamas gave...

Updated 12 Jun, 2024 01:48pm

Business & Finance

UK economy slows to a halt in April in bad timing for Sunak

Britain’s economy showed no growth in April after a strong start to 2024, caused in large part by rainy weather, but...

Published 12 Jun, 2024 01:46pm

Commodities

Jordan tenders to buy up to 120,000 metric tons wheat, traders say

HAMBURG: Jordan’s state grain buyer has issued an international tender to buy up to 120,000 metric tons of milling...

Published 12 Jun, 2024 01:45pm

Mutual Funds

Euro zone government bond yields drop ahead US inflation data, Fed

Euro zone government bond yields dropped on Wednesday as investors’ focus shifted to the release of key US inflation...

Published 12 Jun, 2024 01:43pm

Business & Finance

Germany’s May inflation rises 2.8% on higher services prices

BERLIN: German inflation rose in May due to higher services prices, the federal statistics office said on Wednesday,...

Published 12 Jun, 2024 01:41pm

Stocks

London stocks rise on hopes of earlier rate cut; Rentokil jumps

London stocks opened higher on Wednesday, prompting bets of an earlier rate cut after data showed that the British...

Published 12 Jun, 2024 01:20pm

Forex

South African rand stable, focus on unity government talks

JOHANNESBURG: The South African rand was little changed in early trading on Wednesday, as investors waited for...

Published 12 Jun, 2024 01:18pm

Energy

Oil demand set to peak by 2029, major supply glut looms, IEA says

LONDON: Global oil demand will peak by 2029 and begin to contract the next year, the International Energy Agency...

Published 12 Jun, 2024 01:17pm

Sports

Rory McIlroy says divorce off after reconciliation

PINEHURST: Rory McIlroy and his wife Erica have called off their divorce and are looking forward to “a new...

Published 12 Jun, 2024 11:54am

Middle East

Hamas says it creates broad prospects for a ceasefire deal in Gaza

OCCUPIED JERUSALEM/CAIRO: Hamas on Wednesday said its “positive” response to a US ceasefire plan for the...

Updated 12 Jun, 2024 11:52am

Sports

Philipp Lahm hopes Euro 2024 can bring Europe together

MUNICH: Euro 2024 tournament director Philipp Lahm hopes the event will “bring people together” at a time of...

Published 12 Jun, 2024 11:46am

Stocks

Hong Kong stocks open lower ahead of US releases

HONG KONG: Hong Kong stocks extended losses at the open on Wednesday as investors nervously await the release later...

Published 12 Jun, 2024 11:33am

Middle East

Israeli strike kills senior Hezbollah commander in Lebanon

BEIRUT: An Israeli strike on southern Lebanon killed a senior Hezbollah commander on Tuesday, the Iran-backed group...

Published 12 Jun, 2024 11:31am

Sports

NZ hold ‘honest conversations’ ahead of must-win T20 World Cup clash

WELLINGTON: Coach Gary Stead said his New Zealand team have held “honest conversations” ahead of a do-or-die clash...

Published 12 Jun, 2024 11:29am

Europe

NATO’s Stoltenberg meets Hungary’s Orban amid tensions

BUDAPEST: NATO chief Jens Stoltenberg is to meet Hungarian Prime Minister Viktor Orban in Budapest on Wednesday amid...

Published 12 Jun, 2024 11:12am

Technology

‘Selective’ UAE courting US, not China, on AI: minister

DUBAI: The United Arab Emirates is in “complete alignment” with the US on developing artificial intelligence, the...

Published 12 Jun, 2024 11:04am

Asia

North Korea’s Kim boasts of ‘invincible’ ties with Russia amid talks of Putin visit

SEOUL: North Korean leader Kim Jong Un has said his country is an “invincible comrade-in-arms” with Russia in a...

Published 12 Jun, 2024 10:29am

Asia

China hit by searing temperatures as Asia braces for extreme summer

BEIJING: Temperatures are hitting record highs in parts of north and central China this week while a severe drought...

Published 12 Jun, 2024 10:25am

Stocks

Miners, financials drag Australian shares lower; US CPI, Fed policy in focus

Australian shares fell on Wednesday, led by losses in heavy-weight miners and financials, with investors focused on...

Published 12 Jun, 2024 10:23am

Stocks

Shares of Evergrande EV unit slide 27% after it warns of losing assets

HONG KONG: Shares of China Evergrande New Energy Vehicle Group plunged 27% on Wednesday after it said it faces the...

Published 12 Jun, 2024 10:22am

Business & Finance

World Bank cuts Myanmar’s growth forecast to 1% as conflict worsens

Economic growth in conflict-torn Myanmar will be around 1% for the 2024-2025 fiscal year, the World Bank said on...

Published 12 Jun, 2024 10:19am

Forex

Australia, NZ dollars brace for US rate outlook to make waves

SYDNEY: The Australian and New Zealand dollars were in a pensive mood on Wednesday awaiting developments on US...

Published 12 Jun, 2024 10:18am

Mutual Funds

India bond yields may dip; traders eye CPI data, Fed meet for cues

MUMBAI: Indian government bond yields may open a tad lower on Wednesday, as US yields came off their recent highs,...

Published 12 Jun, 2024 10:17am

Forex

Indian rupee may drop to all-time low before US inflation, Fed rate projections

MUMBAI: The Indian rupee may dip to an all-time low at open on Wednesday ahead of important US inflation data and...

Published 12 Jun, 2024 10:15am

BR Research

Wither agri-growth multiplier?

‘achi kari sarkar ne, buri kari qudrat ne’ (translation: all that’s good is thanks to the State, all that’s bad, is...

Updated 12 Jun, 2024 10:03am

Forex

Dollar calm ahead of inflation test, Fed decision

TOKYO: The dollar steadied on Wednesday after hitting a four-week high against peer currencies overnight as market...

Published 12 Jun, 2024 09:59am

Business & Finance

China’s inflation holds steady in May, factory deflation eases

BEIJING: China’s consumer inflation held steady in May while producer price declines eased, but the underlying trend...

Published 12 Jun, 2024 09:55am

Stocks

Asian shares muted on soft China price data; US inflation data on tap

SYDNEY: Asian shares were subdued on Wednesday after data showed China’s consumer prices still remained soft, while...

Published 12 Jun, 2024 09:51am

Sports

Adam Zampa shines as Australia romp into Super Eights at World Cup

Adam Zampa took four for 12 from four overs as unbeaten Australia stormed into the Super Eights at the Twenty20...

Published 12 Jun, 2024 09:45am

Commodities

Wheat dips after rally, but Russian weather woes limit decline

SINGAPORE: Chicago wheat futures retreated on Wednesday from a strong jump in the previous session, although...

Published 12 Jun, 2024 09:43am

Energy

Kuwait cuts July crude prices for Asia, document shows

SINGAPORE: Kuwait has cut the official selling price (OSP) for Kuwait Export Crude (KEC) to Asia in July by 40 cents...

Published 12 Jun, 2024 09:41am

Stocks

Japan’s Nikkei skids as caution sets in before key central bank decisions

TOKYO: Japan’s Nikkei share average retreated on Wednesday, pressured by losses in some market heavyweights...

Published 12 Jun, 2024 09:39am

Europe

Russia launches missile and drone attack on Kyiv, Ukraine’s military says

KYIV: Russia launched a missile and drone attack on Kyiv early on Wednesday with preliminary information showing...

Published 12 Jun, 2024 09:36am

Commodities

Palm oil rises to track higher rival softs and crude

SINGAPORE: Malaysian palm oil futures rose over 1% on Wednesday to track rival edible oils and crude oil higher. The...

Published 12 Jun, 2024 09:32am

No sacred cows, everyone has to contribute to economy: Aurangzeb

ISLAMABAD: Finance Minister Muhammad Aurangzeb Tuesday forewarned that there are no sacred cows and everyone has to...

Updated 12 Jun, 2024 09:32am

Public debt recorded at Rs67.525trn at Mar-end

ISLAMABAD: Pakistan’s total public debt was recorded at Rs 67,525 billion at the end-March 2024, registering an...

Updated 12 Jun, 2024 09:31am

Installed electricity capacity stands at 42,131MW

ISLAMABAD: Pakistan’s total installed electricity capacity stood at 42,131-MW as of March 2024 with percentage...

Updated 12 Jun, 2024 09:30am

Bullion Rate

Gold treads water ahead of US inflation test, Fed decision

Gold prices were flat on Wednesday as investors awaited the US Federal Reserve’s policy announcement for insights...

Published 12 Jun, 2024 09:30am

Stocks

Indian shares inch higher ahead of Fed policy decision

BENGALURU: Indian shares opened higher on Wednesday, driven by information technology stocks, ahead of inflation...

Published 12 Jun, 2024 09:27am

USA

Trump says he wants all remaining Bitcoin to be made in the US

Republican presidential candidate Donald Trump said on Tuesday that he wants all remaining Bitcoin to be made in the...

Published 12 Jun, 2024 09:23am

Growth target missed: Economic Survey

ISLAMABAD: Economy is likely to have expanded by 2.4% in the fiscal year that ends this month, missing a target of...

Updated 12 Jun, 2024 09:13am

Tax exemptions, zero-rating cost kitty over Rs3.87trn

ISLAMABAD: Total tax exemptions, concessions, zero-rating and special tax treatments to various businesses,...

Updated 12 Jun, 2024 08:59am

Interest expenses climb to Rs5.5trn

KARACHI: The tight monetary stance by the State Bank of Pakistan (SBP) resulted in a massive surge in the federal...

Updated 12 Jun, 2024 08:58am

Inflation target of 21pc will be missed

ISLAMABAD: Pakistan will miss the inflation target of 21 percent set for the current fiscal year and will remain in...

Updated 12 Jun, 2024 08:57am

Life expectancy rises to 67.3 years

ISLAMABAD: The life expectancy in Pakistan has increased from 65.7 years to 67.3 years from 2015 to 2022, revealed...

Updated 12 Jun, 2024 08:57am

BR’s refresher: your morning briefing for the day

Important updates from June 11, 2024

Published 12 Jun, 2024 08:55am

Business & Finance

World Bank projects 2.3pc GDP growth rate

ISLAMABAD: The World Bank (WB) has projected Pakistan’s GDP growth rate at 2.3 percent for the fiscal year 2024-25...

Updated 12 Jun, 2024 08:47am

Opinion

LPG cylinder explosions: a call for urgent reform

In a devastating incident on May 30, 2024, a liquefied petroleum gas (LPG) cylinder explosion claimed the lives of ...

Updated 12 Jun, 2024 07:18am

Opinion

Power transmission: challenges

The power sector in Pakistan is facing a crisis of public perception amid the litany of technical challenges...

Updated 12 Jun, 2024 07:13am

BR Research

LNG price stabilizes – reforms awaited

The relative calm in international energy commodity prices could not have been timed better for the likes of...

Published 12 Jun, 2024 07:10am

Opinion

Local puzzles, foreign pieces

Here’s the latest twist in the saga of Pakistan’s economic spectacle: we’ve decided to bring in a foreign...

Published 12 Jun, 2024 06:51am

Editorials

Economic Survey

EDITORIAL: The Economic Survey 2024-25 gives good news: key macroeconomic indicators are better than the comparable...

Published 12 Jun, 2024 06:51am

BR Research

The Searle Company Limited

The Searle Company Limited (PSX: SEARL) was incorporated in Pakistan as a private limited company in 1965 and was...

Published 12 Jun, 2024 07:04am

World

Canada’s capital rocked by treason allegations

OTTAWA: Canadian Prime Minister Justin Trudeau on Monday ceded to opposition pressure to expand a public inquiry ...

Published 12 Jun, 2024 06:51am

Pakistan

The Weather

KARACHI: The weather report on Tuesday (June 11, 2024) and the forecast for Wednesday (June 12, 2024)...

Published 12 Jun, 2024 06:51am

Pakistan

First Steering body’s meeting on IDEAS held at Expo Centre

KARACHI: The inaugural Steering Committee meeting regarding International Defence Exhibition and Seminar (IDEAS) was...

Published 12 Jun, 2024 06:51am

Pakistan

CM to launch ‘Grand Health Programme’

LAHORE: Chief Minister Punjab Maryam Nawaz Sharif has directed the authorities concerned to complete the ...

Published 12 Jun, 2024 06:51am

Pakistan

‘Around half of Pakistani labour migrants are still categorised as low-skilled or unskilled’

LAHORE: The Pakistan Migration Report 2024, states that the international out migration numbers have returned to...

Published 12 Jun, 2024 06:51am

Pakistan

Hearing of ‘Iddat case’: IHC questions reason behind judge’s recusal

ISLAMABAD: The Islamabad High Court (IHC) questioned the reason of a judge’s recusal from hearing the “Iddat...

Published 12 Jun, 2024 06:51am

Pakistan

Country goes from being water-stressed to water-scarce

ISLAMABAD: Pakistan is facing a shift from water-stressed to water-scarce status due to factors such as population...

Published 12 Jun, 2024 06:51am

Pakistan

MQM moves resolution to bring stranded Pakistanis back from Bangladesh

KARACHI: The MQM on Tuesday moved a resolution to bring back Pakistanis being stranded in Bangladesh since the 1971...

Published 12 Jun, 2024 06:51am

Opinion

PARTLY FACETIOUS: ‘French President has forgotten how unpopular he is’

“So what do you mean by surgery?” “That’s rather a silly question. Surgery is when you have an operation and...

Published 12 Jun, 2024 06:51am

Pakistan

Punjab to launch ‘Green Tractor’ scheme

LAHORE: The Punjab government is set to launch the “Green Tractor” scheme, aimed at providing farmers with ...

Published 12 Jun, 2024 06:51am

Pakistan

Cumulative education expenditures decline

ISLAMABAD: The cumulative education expenditures by federal and provincial governments declined as a percentage of...

Published 12 Jun, 2024 06:51am

Pakistan

Rs313.4bn disbursed among 9.4m BISP beneficiaries

ISLAMABAD: The Economic Survey 2023-2024 unveiled substantial financial commitments by the Government of Pakistan...

Published 12 Jun, 2024 06:51am

Pakistan

Bilal made Convener of National Parliamentary Taskforce on SDGs

ISLAMABAD: National Assembly of Pakistan Speaker Sardar Ayaz Sadiq has appointed Member National Assembly Bilal ...

Published 12 Jun, 2024 06:51am

Pakistan

Eid days: Central control room to monitor activities across Punjab

LAHORE: The Punjab Home Department has established a control room in the Civil Secretariat before the arrival of...

Published 12 Jun, 2024 06:51am

Pakistan

Climate activists demand G7 leaders to pay for climate finance

LAHORE: Activists from Pakistan Kissan Rabita Committee, Labour Education Committee and Crofter Foundation staged a...

Published 12 Jun, 2024 06:51am

Pakistan

IK not offered any ‘deal’, says Gohar

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) chairman Barrister Gohar Ali Khan on Tuesday said that the jailed founding...

Published 12 Jun, 2024 06:51am

Pakistan

Via video link: Issuance of production order for IK hinted

ISLAMABAD: A local court on Tuesday hinted at issuing an order for presenting Pakistan Tehreek-e-Insaf (PTI) ...

Published 12 Jun, 2024 06:51am

Pakistan

LCCI honoured with friendship award by Chinese CG

LAHORE: President of the Lahore Chamber of Commerce and Industry Kashif Anwar expressed his gratitude for the ...

Published 12 Jun, 2024 06:51am

Pakistan

Minister vows to provide better health facilities

LAHORE: Expressing his firm resolve to make 2024 as the year of operational improvement in government hospitals, the...

Published 12 Jun, 2024 06:51am

Pakistan

Budget preparation: No input taken from PPP: Marri

ISLAMABAD: The meeting of the parliamentary committee of the Pakistan Peoples Party was held Tuesday in the meeting...

Published 12 Jun, 2024 06:51am

Pakistan

Pakistan for immediate, unconditional ceasefire in Palestine

ISLAMABAD: Deputy Prime Minister and Foreign Minister Ishaq Dar on Tuesday reiterated Pakistan’s strong and...

Published 12 Jun, 2024 06:51am

Pakistan

Pakistan, UK agree to continue working in all areas

ISLAMABAD: Pakistan and the United Kingdom have agreed to continue working towards further deepening and broadening...

Published 12 Jun, 2024 06:51am

Pakistan

Cabinet clears DNP Act: Paperless governance, digitisation of economy to be achieved

ISLAMABAD: The federal cabinet has given in-principle approval to the Digital Nation Pakistan Act 2024 in order to...

Published 12 Jun, 2024 06:51am

Pakistan

PTI rejects composition of standing committees

ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI), Tuesday, rejected the composition of the standing committees in the upper...

Published 12 Jun, 2024 06:51am

Pakistan

Railways reduces fares by 25pc

ISLAMABAD: Pakistan Railways (PR) in a bid to facilitate commuters has announced to reduce fares by 25 percent for...

Published 12 Jun, 2024 06:51am

Pakistan

Tarar launches ceremony of National Security & Foreign Policy report

ISLAMABAD: Federal Information Minister Attaullah Tarar emphasized the priority of foreign policy in his address at...

Published 12 Jun, 2024 06:51am

Pakistan

Foreign policy towards India‘Unilateral change’ not acceptable: PTI

ISLAMABAD: The beleaguered opposition Pakistan Tehreek-e-Insaf (PTI) on Tuesday said that any unilateral change in...

Published 12 Jun, 2024 06:51am

Pakistan

Eid-ul-Azha holidays

ISLAMABAD: The Cabinet Division has sent a summary on Tuesday to the Prime Minister’s Secretariat proposing the...

Published 12 Jun, 2024 06:51am

Pakistan

Asylum seekers will not get passports

ISLAMABAD: Pakistan will not issue passports to its citizens who have taken refuge abroad in a bid to get asylum in...

Published 12 Jun, 2024 06:51am

Pakistan

IGP prisons, Superintendent Adiala Jail, Colonel: PTI will file petition, says Imran

ISLAMABAD: The incarcerated Pakistan Tehreek-e-Insaf (PTI) founding chairman, Imran Khan, on Tuesday, said that the...

Published 12 Jun, 2024 06:51am

Pakistan

President underscores need for ‘reasonable’ price of wheat

ISLAMABAD: President Asif Ali Zardari has called for providing a reasonable wheat price, making timely ...

Published 12 Jun, 2024 06:51am

Pakistan

PM discusses proposed budget with President

ISLAMABAD: Prime Minister Shehbaz Sharif, Tuesday, called on President Asif Ali Zardari and discussed the upcoming...

Published 12 Jun, 2024 06:51am

Rates

BRIndex100 and BR Sectoral Indices

KARACHI: BRIndex100 and BR Sectoral Indices on Tuesday (June 11, 2024). ==================================== BR...

Published 12 Jun, 2024 06:51am

Paper

Lahore Paper Market Rates

LAHORE: Paper market rates in rupees on Tuesday (June 11, 2024). ======================================= Offset...

Published 12 Jun, 2024 06:51am

Grains

Lahore Grain Market Rates

LAHORE: Grain and other commodity rates in rupees on Akbari Mandi on Tuesday (June 11, 2024)...

Published 12 Jun, 2024 06:51am

Rates

Shipping Intelligence

KARACHI: Karachi Shipping Intelligence report incorporating changes till 7 am on Tuesday (June 11, 2024)....

Published 12 Jun, 2024 06:51am

Forex

Kerb buying and selling rate of US dollar

KARACHI: Dollar buying and selling rate in the kerb market in rupees on Tuesday (June 11, 2024)....

Published 12 Jun, 2024 06:51am

Forex

Dollar's rate in interbank market

KARACHI: Interbank closing rates for dollar on Tuesday (June 11, 2024). ======================== Open Bid Rs...

Published 12 Jun, 2024 06:51am

Forex

Open market rates of foreign currencies

KARACHI: Open market rates of foreign currencies supplied by the Exchange Companies Association of Pakistan on...

Published 12 Jun, 2024 06:51am

Rates

Kibor interbank offered rates

KARACHI: Kibor interbank offered rates on Tuesday (June 11, 2024). ========================== KIBOR...

Published 12 Jun, 2024 06:51am

Forex

Currency values in terms of Special Drawing Rights

WASHINGTON: The International Monetary Fund (IMF), treasuries' department's currency values in terms of Special...

Published 12 Jun, 2024 06:51am

Rates

LME official prices

LONDON: The following were Monday official prices. ========================================= ALUMINIUM...

Published 12 Jun, 2024 06:51am

Energy

Oil prices marginally up

HOUSTON: Oil prices edged slightly higher on Tuesday as OPEC stuck to its forecast for relatively strong growth in...

Published 12 Jun, 2024 06:51am

Cotton & Textile

Cotton market: Phutti prices at Rs 20,400-Rs 20,500 per maund in Sindh

LAHORE: The local cotton market on Tuesday remained steady and the trading volume remained low. According to ...

Published 12 Jun, 2024 06:51am

Cotton & Textile

Cotton spot rates

KARACHI: official KCA spot rates for local dealings in Pakistan rupees on Tuesday, (June 11, 2024)...

Published 12 Jun, 2024 06:51am

Rates

Activities at Karachi Port Trust and Port Qasim

KARACHI: The Karachi Port Trust handled 160,585 tonnes of cargo comprising 79,561 tonnes of import cargo and 81,024...

Published 12 Jun, 2024 06:51am

Commodities

Copper hits 7-week low on weak China indicators, strong dollar

LONDON: Copper prices in London hit their lowest in seven weeks on Tuesday, under pressure from a stronger dollar,...

Published 12 Jun, 2024 06:51am

Commodities

Japanese rubber futures down on profit-taking

SINGAPORE: Japanese rubber futures edged down on Tuesday on profit taking in view of heightened uncertainty on ...

Published 12 Jun, 2024 06:51am

Grains

Chicago wheat recovers from one-month low

SINGAPORE: Chicago wheat futures rose on Tuesday, recovering from its lowest level since early May on ...

Published 12 Jun, 2024 06:51am

Stocks

Japan’s Nikkei gains on chip shares boost

TOKYO: Japan’s Nikkei share average closed at a two-month peak on Tuesday as heavyweight chip shares tracked their...

Published 12 Jun, 2024 06:51am

Stocks

China shares end at near two-month lows

SHANGHAI: Mainland China stocks ended lower on Tuesday, the first trading day after a long weekend break, with two...

Published 12 Jun, 2024 06:51am

Stocks

European shares lower as French political tremors rattle banks

BENGALURU: European shares closed lower on Tuesday, with banks across the continent falling as investors fretted ...

Published 12 Jun, 2024 06:51am

Stocks

Wall St slips ahead of inflation report

NEW YORK: Wall Street’s main indexes slipped on Tuesday as investors turned cautious ahead of a crucial inflation...

Published 12 Jun, 2024 06:51am

Letters

Allowing export of sugar

According to a Business Recorder news report, a meeting of the Sugar Advisory Board (SAB) chaired by the Federal...

Published 12 Jun, 2024 06:51am

Energy

Pak-Iran wind project: minister orders removal of impediments

KARACHI: Sindh Provincial Energy Minister Syed Nasir Hussain Shah has said that Sindh province is rich in natural...

Published 12 Jun, 2024 06:51am

Cotton & Textile

Faisalabad Yarn and Fiber Prices

FAISALABAD: Yarn Market Rates on Tuesday (June 11, 2024) =========================== 6/S-7/S (COTTON)...

Published 12 Jun, 2024 06:51am

Opinion

Neither up-to-date nor unbiased

The Economic Survey’s relevance, limited to data analysis, is neither up to date (limited to July-March or for ...

Published 12 Jun, 2024 06:51am

Rates

Selling pressure exacts a toll

KARACHI: Pakistan Stock Exchange on Tuesday remained under selling pressure on investor fear over rumors of...

Published 12 Jun, 2024 06:51am

Commodities

PMEX daily trading report

KARACHI: On Monday at PMEX, the traded value of Metals, Energy, COTS and indices was recorded at PKR 14.765 billion...

Published 12 Jun, 2024 06:51am

Commodities

Iron ore tumbles to 2-month low on concerns over weakening China demand

BEIJING: Iron ore futures fell to a two-month low on Tuesday, weighed down by lingering weak fundamentals and...

Published 12 Jun, 2024 06:51am

Commodities

Malaysian palm oil ticks up on lower rapeseed projections

SINGAPORE: Malaysian palm oil futures rose Tuesday, reversing midday losses, as lower rapeseed projections...

Published 12 Jun, 2024 06:51am

Commodities

Gold edges up as investors eye Fed outlook

BENGALURU: Gold prices edged up on Tuesday despite a higher dollar as investors awaited key US inflation data and ...

Published 12 Jun, 2024 06:51am

Business & Finance

Global economic review

The global economy demonstrates remarkable resilience, characterized by steady growth as inflation gradually moves...

Published 12 Jun, 2024 06:51am

Commodities

Gold prices gain

KARACHI: Gold prices on Tuesday gained a big leap on the local market with global bullion value going past $2300 an...

Published 12 Jun, 2024 06:51am

Editorials

What next for the new defamation law?

EDITORIAL: Evidently embarrassed at the Punjab government’s enactment of a new defamation law, roundly condemned ...

Published 12 Jun, 2024 06:51am

Industry

Business community demands further cut in policy rate

LAHORE: Business community has demanded further cut in the policy rate to facilitate growth of industrial sector....

Published 12 Jun, 2024 06:51am

Business & Finance

Proposed amendments in FTR & NTR rejected by textile sector

FAISALABAD: Value added textile sector has out rightly rejected the proposed amendments in Final Tax Regime (FTR) ...

Published 12 Jun, 2024 06:51am

Business & Finance

World Bank approves additional $1bn for Dasu Hydropower Project

LAHROE: In what can be termed a significant development for much-needed financing to generate clean, green and...

Published 12 Jun, 2024 06:51am

Money & Banking

Asian currencies: Indonesian rupiah at lowest level in 4 years

BENGALURU: Emerging Asian markets were finely balanced on Tuesday as traders awaited the release of US inflation ...

Published 12 Jun, 2024 06:51am

Money & Banking

China’s yuan slides to seven-month low against dollar

SHANGHAI: China’s yuan fell to a near seven-month low against the US dollar on Tuesday, as investors returned from...

Published 12 Jun, 2024 06:51am

Money & Banking

Dollar hits four-week high before inflation report

NEW YORK: The dollar hit a four-week high on Tuesday, ahead of a highly anticipated inflation report that is likely...

Published 12 Jun, 2024 06:51am

Companies

PQFTL announces appointment of new CEO

KARACHI: Pak-Qatar Family Takaful Limited (PQFTL), a leading provider of Shariah-compliant Family Takaful solutions,...

Published 12 Jun, 2024 06:51am

Business & Finance

FPCCI advocates strong tax system

LAHORE: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Regional Chairman and Vice President of...

Published 12 Jun, 2024 06:51am

Business & Finance

Livestock sector registers 3.9pc growth

ISLAMABAD: The livestock sector of the economy has registered a growth of 3.9 per cent during 2023-24, revealed...

Published 12 Jun, 2024 06:51am

Industry

‘IT industry demonstrates growth of -3.02pc owing to decline in telecommunication’

ISLAMABAD: The information and communication industry demonstrated growth of -3.02 per cent because of a decline in...

Published 12 Jun, 2024 06:51am

Energy

Rs719.59bn PL collected in Jul-Mar

ISLAMABAD: The federal government has collected Rs719.592 billion petroleum levy (PL) on petroleum products in the...

Published 12 Jun, 2024 06:51am

Energy

Economic Survey: Jul-Mar POL import bill down on lower intake

ISLAMABAD: Pakistan’s petroleum import bill declined in the first nine months (July-March) of fiscal year 2023-24...

Published 12 Jun, 2024 06:51am

Business & Finance

Budget proposals: PHMA demands govt lay focus on law and order

KARACHI: Pakistan Hosiery Manufacturers & Exporters Association (PHMA) has set forth scores of propositions for...

Published 12 Jun, 2024 06:51am

Companies

Listing of FCL: PSX holds gong ceremony

KARACHI: Pakistan Stock Exchange (PSX) held a gong ceremony to celebrate the listing of Fast Cables Limited (FCL)....

Published 12 Jun, 2024 06:51am

Business & Finance

Economic prosperity: ICMA for supply-side policy steps

KARACHI: The Institute of Cost and Management Accountants of Pakistan (ICMA) has emphasised the importance of...

Published 12 Jun, 2024 06:51am

Taxes

Customs delays probe against non duty paid products

ISLAMABAD: The Federal Board of Revenue’s (FBR) customs authorities have delayed investigation against allegations...

Published 12 Jun, 2024 06:51am

Business & Finance

Gohar Ejaz advocates cut in interest, industrial power tariffs

ISLAMABAD: The only solution to the current economic problem is through growth and export-based industrial ...

Published 12 Jun, 2024 06:51am

Companies

Jazz CEO for results-oriented efforts to address gender digital divide

ISLAMABAD: Jazz CEO Aamir Ibrahim has urged for serious, results-oriented efforts to make connectivity more...

Published 12 Jun, 2024 06:51am

Money & Banking

SME sector: SBP directs banks to adopt DSCF solutions

KARACHI: The State Bank of Pakistan (SBP) has instructed the banks to adopt Digital Supply Chain Finance (DSCF)...

Published 12 Jun, 2024 06:51am

Business & Finance

Bilateral trade: Sri Lankan CG assures REAP of removing hurdles

KARACHI: Jagat Abeywarna Consul General of Sri Lanka has assured rice exporters of removal of hurdles in the...

Published 12 Jun, 2024 06:51am

Business & Finance

UBG leaders disappointed over 1.5pc reduction in policy rate

KARACHI: Leaders of the United Business Group (UBG), including SM Tanveer, Zubair Tufail, Khalid Tawab, Hanif Gohar,...

Published 12 Jun, 2024 06:51am

Business & Finance

Unemployment rate stands at 6.3pc

ISLAMABAD: With 4.51 million unemployed population, the rate of unemployment in Pakistan stands at 6.3 percent, the...

Published 12 Jun, 2024 06:51am

Business & Finance

Economic Survey: Red Sea disruptions continue to affect supply chain

ISLAMABAD: The Government said on Tuesday that prolonged disruptions in Red Sea will continue to disrupt supply...

Published 12 Jun, 2024 06:51am

Business & Finance

Import of cotton: APTMA opposes govt’s plan to impose duties

ISLAMABAD: All Pakistan Textile Mills Association (APTMA) has strongly opposed government’s intention to impose...

Published 12 Jun, 2024 06:51am

World

Jordan, Egypt say Israel must abide by UN Security Council resolution on Gaza

CAIRO: Egyptian Foreign Minister Sameh Shoukry and his Jordanian counterpart Ayman Safadi urged Israel to abide by...

Published 12 Jun, 2024 12:12am

Previous Day

BR100
BR30
KSE100
KSE30
KMI30

1D 5D 3M 6M 1Y

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Aug 7	277.91
USD PKR Interbank Buying / Aug 7	277.71
USD to Japanese Yen / Aug 7	157.76
USD to Swiss Franc / Aug 7	0.81
Pound Sterling to USD / Aug 7	1.35
Euro to USD / Aug 7	1.16
SOFR % / Aug 7	3.65

Stock	Volume
S&P 500 / Aug 7	7,757.64
India Sensex / Aug 7	78,499.17
Tokyo Nikkei / Aug 7	65,606.71
Nasdaq / Aug 7	26,690.62
Hang Seng / Aug 7	25,668.03
FTSE 100 / Aug 7	10,901.09
Dow Jones / Aug 7	54,036.93
Germany DAX 30 / Aug 7	26,319.45
France CAC40 / Aug 7	8,714.93

Item	Value
Crude Oil USD/Barrel / Aug 7	78.18
Karachi Cotton PKR/37.32 KG / Aug 7	18,580
Gold 10 Grams PKR / Aug 7	389,519
Gold Spot USD/Ounce / Aug 7	4,341.56
Cotton US¢/pound / Aug 7	84.40
Petrol/Litre / Aug 8	329.82
Diesel/Litre / Aug 8	382.36

Gainers
Losers
Leaders

Stock	Price
D.S. Ind. Ltd. / Aug 7 D.S. Industries Limited(DSIL)	13.84 ▲ 1.26 (10.02%)
Secure Logistics-Trax Group / Aug 7 Secure Logistics-Trax Group Limited(SLGL)	17.68 ▲ 1.61 (10.02%)
First Tri-Star Mod. / Aug 7 First Tri-Star Modaraba(FTSM)	46.39 ▲ 4.22 (10.01%)
Asim Textile / Aug 7 Asim Textile Mills Limited(ASTM)	61.81 ▲ 5.62 (10%)
Buxly Paints / Aug 7 Buxly Paints Limited(BUXL)	229.52 ▲ 20.87 (10%)
Frieslandcampina / Aug 7 Frieslandcampina Engro Pakistan Limited(FCEPL)	121.30 ▲ 11.03 (10%)
Faisal Sp. / Aug 7 Faisal Spinning Mills Limited(FASM)	358.06 ▲ 32.55 (10%)
Aisha Steel (CPS) / Aug 7 Aisha Steel Mills Limited (CPS)(ASLCPS)	78.43 ▲ 7.13 (10%)
Wasl Mobility Mod. / Aug 7 Wasl Mobility Modaraba(WASL)	6.80 ▲ 0.59 (9.5%)
Imperial Limited / Aug 7 Imperial Limited(IML)	23.48 ▲ 1.98 (9.21%)

Stock	Price
Fateh Sports / Aug 7 Fateh Sports Wear Limited(FSWL)	159.49 ▼ -16.5 (-9.38%)
Trust Mod. / Aug 7 Trust Modaraba(TRSM)	18.57 ▼ -1.68 (-8.3%)
Asia Ins. / Aug 7 Asia Insurance Company Limited(ASIC)	42.43 ▼ -3.56 (-7.74%)
Shams Textile / Aug 7 Shams Textile Mills Limited(STML)	52.52 ▼ -4.29 (-7.55%)
Dar-es-Salaam / Aug 7 Dar-es-Salaam Textile Mills Limited(DSML)	22.17 ▼ -1.69 (-7.08%)
J.A.Textile / Aug 7 J.A. Textile Mills Limited(JATM)	52.77 ▼ -3.97 (-7%)
Tri-Star Power / Aug 7 Tri-Star Power Limited(TSPL)	17.35 ▼ -1.25 (-6.72%)
Gadoon Textile / Aug 7 Gadoon Textile Mills Limited(GADT)	341.05 ▼ -21.04 (-5.81%)
AKD Hospitality / Aug 7 AKD Hospitality Limited(AKDHL)	150.79 ▼ -9.21 (-5.76%)
Dadabhoy Cement / Aug 7 Dadabhoy Cement Industries Limited(DBCI)	14.47 ▼ -0.88 (-5.73%)

Stock	Volume
Cnergyico PK / Aug 7 Cnergyico PK Limited(CNERGY)	161,177,862 ▲ 0.69
B.O.Punjab / Aug 7 The Bank of Punjab(BOP)	52,334,090 ▲ 0.46
Wasl Mobility Mod. / Aug 7 Wasl Mobility Modaraba(WASL)	24,216,535 ▲ 0.59
Pace (Pak) Ltd. / Aug 7 Pace (Pakistan) Limited(PACE)	20,061,794 ▲ 0.32
Nishat Chun.Pow. / Aug 7 Nishat Chunian Power Limited(NCPL)	18,254,792 ▲ 0.7
Nishat Power / Aug 7 Nishat Power Limited(NPL)	15,207,765 ▼ -0.2
Unity Foods Ltd / Aug 7 Unity Foods Limited(UNITY)	15,156,912 ▼ -0.39
Hascol Petrol / Aug 7 Hascol Petroleum Limited(HASCOL)	13,781,842 ▲ 0.35
D.S. Ind. Ltd. / Aug 7 D.S. Industries Limited(DSIL)	12,582,914 ▲ 1.26
Maple Leaf Cement / Aug 7 Maple Leaf Cement Factory Limited(MLCF)	12,492,335 ▼ -1.02