News Archives for Latest - 2024-06-20

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Archive - 2024-06-20

World

Netanyahu says Israel needs US ammunition in 'war for its existence'

JERUSALEM: Israeli Prime Minister Benjamin Netanyahu said Thursday the country needs ammunition from the United...

Published 20 Jun, 2024 11:57pm

Sports

India defeat Afghanistan by 47 runs at T20 World Cup

BRIDGETOWN: Suryakumar Yadav smashed a fine half-century before India’s bowlers slammed the brakes on Afghanistan’s...

Updated 20 Jun, 2024 11:45pm

World

Palestinians say Israeli troops kill teen in West Bank

JERUSALEM: The Palestinian health ministry said Israeli forces shot dead a Palestinian teenager in the occupied West...

Published 20 Jun, 2024 11:15pm

Energy

Power generation in Pakistan improves, cost declines 10% YoY in May

Power generation in Pakistan clocked in at 12,617 GWh (16,958 MW) in May 2024, an increase of 2.7% YoY as compared...

Updated 20 Jun, 2024 10:47pm

Energy

Attacks by MNAs, MPAs on grid stations caused heavy financial loss: PESCO chief

The Chief Executive Officer (CEO) of Peshawar Electric Supply Company Limited (PESCO) has raised concern amid...

Updated 20 Jun, 2024 10:44pm

Business & Economy

Imposition of further taxes on salaried group to ‘accelerate brain drain’ in Pakistan: PBC

The Pakistan Business Council (PBC), the country’s largest corporate advocacy platform, has warned that the...

Updated 20 Jun, 2024 10:42pm

Exchange

Rupee falls marginally against US dollar

Currency settles at 278.6 against the greenback in inter-bank market

Updated 20 Jun, 2024 10:18pm

Business & Economy

‘Economic terrorism’: NA opposition leader assails govt in budget debate

Omar Ayub says economic hitman made budget for FY2024-25

Updated 20 Jun, 2024 10:07pm

Forex

SBP-held foreign exchange reserves increase $31mn, now stand at $9.13bn

Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $31 million on a weekly basis,...

Published 20 Jun, 2024 09:56pm

Stocks

FTSE 100 hits near two-week high on BoE rate cut bets

London’s blue-chip stock hit a near two-week high on Thursday, as the Bank of England kept rates on hold as...

Published 20 Jun, 2024 09:54pm

Stocks

S&P 500, Nasdaq scale record highs as Nvidia lengthens its lead

The S&P 500 and the Nasdaq hit record highs on Thursday, boosted by strong gains in Nvidia, while investors...

Published 20 Jun, 2024 09:50pm

Stocks

European shares rise after Swiss rate cut, BoE decision

European shares advanced on Thursday with broad-based gains as markets tracked a global upbeat sentiment, while...

Published 20 Jun, 2024 09:46pm

Middle East

Death toll tops 1,000 after Hajj marked by extreme heat: AFP tally

RIYADH: The death toll from this year’s Hajj has exceeded 1,000, an AFP tally said on Thursday, more than half of...

Updated 20 Jun, 2024 08:59pm

Stocks

Banking sector leads the way as KSE-100 gains nearly 2,100 points to settle at record high

Benchmark index closes at 78,802 after 2.73% gain on Thursday, has been on winning run since budget announcement

Updated 20 Jun, 2024 08:57pm

Pakistan

Post-Hajj operations: first PIA flight with 160 pilgrims lands in Karachi

Pakistan International Airlines (PIA) has successfully launched its post-Hajj operation with its first flight...

Published 20 Jun, 2024 08:52pm

Luxury

UAE to stay magnet for global millionaires third year in a row

The United Arab Emirates (UAE) is poised to stay as the world’s leading wealth magnet for the third year running,...

Published 20 Jun, 2024 08:12pm

Energy

Brent holds $85 level ahead of US inventory data

LONDON: Brent oil futures were steady on Thursday, hovering just below seven-week highs as escalating conflict in...

Updated 20 Jun, 2024 07:16pm

Europe

Russia pounds Ukraine energy sites in latest ‘mass’ attack

KYIV: Russian attacks overnight damaged a Ukrainian power plant and several energy facilities, Kyiv said Thursday,...

Published 20 Jun, 2024 07:14pm

Europe

Romania to send Patriot missile system to Ukraine

BUCHAREST: NATO member Romania announced Thursday that it would send a Patriot missile system to Ukraine, welcomed...

Published 20 Jun, 2024 06:35pm

Stocks

Gulf shares end mixed; US Fed officials comments in focus

Major stock markets in the Gulf were mixed on Thursday amid steady oil prices, while investors awaited commentary...

Published 20 Jun, 2024 06:13pm

Technology

Pakistan’s mobile phone manufacturing/assembly up 168% in 5MCY24

Country now fulfils 95% of its mobile phone demand through local manufacturing, says Topline Securities

Published 20 Jun, 2024 05:46pm

‘Parallel’ ministries/ deptts to be shut down: Aurangzeb

ISLAMABAD: Federal Minister for Finance Senator Muhammad Aurangzeb on Tuesday reiterated the government’s commitment...

Updated 20 Jun, 2024 05:31pm

Money & Banking

Bank of England keeps rates at 5.25% ahead of UK election

LONDON: The Bank of England kept its main interest rate unchanged at a 16-year high of 5.25% on Thursday ahead of a...

Updated 20 Jun, 2024 05:30pm

Cricket

India to play Bangladesh, New Zealand and England in 2024-25 home season

India will kick off their home season against Bangladesh in September before hosting New Zealand in October and...

Published 20 Jun, 2024 05:17pm

Life & Style

For expats: Karachi, Islamabad ranked cheapest cities in Mercer’s Cost of Living City Ranking 2023

Karachi and Islamabad were ranked the least expensive cities for expats by Mercer’s recent Cost of Living City...

Published 20 Jun, 2024 04:53pm

Stocks

Sri Lanka shares end higher as consumer discretionary, materials gain

CSE All-Share index settled 0.19% higher at 12,249.06

Published 20 Jun, 2024 04:50pm

Commodities

Asia rice: India rates climb to near three-month high as demand picks up

India’s rice export prices rose to a near three-month peak this week as demand picked up and the government raised...

Published 20 Jun, 2024 04:39pm

Perspectives

What is summer solstice?

Summer solstice, also known as the estival solstice, occurs when one of Earth’s poles has its maximum tilt toward...

Published 20 Jun, 2024 04:39pm

Stocks

Private banks lift Indian shares to record closing highs

BENGALURU: Indian shares recovered from a muted start to log record closing highs on Thursday, led by private banks...

Published 20 Jun, 2024 04:34pm

Commodities

Copper edges up on hopes of stronger demand, stockpiles cap gains

LONDON: Copper prices edged up on Thursday on hopes of improved demand in China following recent price drops and...

Published 20 Jun, 2024 04:30pm

Commodities

Palm oil extends gains for second session despite lower export estimates

JAKARTA: Malaysian palm oil futures extended gains for a second consecutive session on Thursday despite lower...

Published 20 Jun, 2024 04:27pm

Business & Finance

Swiss central bank cuts rate for second straight time

ZURICH: The Swiss National Bank announced Thursday its second straight interest-rate cut, after becoming in March...

Published 20 Jun, 2024 02:35pm

Payment settlement between KE, govt entities: PM directs PD to present ‘holistic’ solution

NEPRA announces hearing dates on tariffs of KE

Updated 20 Jun, 2024 02:35pm

Commodities

Gold unchanged at Rs241,300 per tola in Pakistan

Gold prices remained unchanged in Pakistan on Thursday, despite an uptick in the international rate. In the local...

Published 20 Jun, 2024 02:32pm

Travel

Booking.com sounds alarm on AI-enabled travel scams

TORONTO, Canada: As travellers rush to book their summer getaways, Booking.com’s internet safety boss says watch out...

Published 20 Jun, 2024 02:28pm

Luxury

Ferrari’s first electric car to cost over $500,000

MILAN: Ferrari’s first electric car will cost at least 500,000 euros ($535,000), a source familiar with the matter...

Published 20 Jun, 2024 01:57pm

Stocks

British equities flat ahead of BoE’s vote

London stocks opened flat on Thursday as investors remained on the sidelines and maintained a cautious stance ahead...

Published 20 Jun, 2024 01:27pm

Stocks

European shares open higher on tech boost ahead of central bank decision flurry

European shares opened higher on Thursday, boosted by rising technology shares, with the focus squarely on interest...

Published 20 Jun, 2024 01:25pm

Forex

South African rand edges lower, focus on president’s cabinet picks

JOHANNESBURG: South Africa’s rand edged lower early on Thursday, as investors turned cautious ahead of newly...

Published 20 Jun, 2024 01:22pm

Middle East

Israel pounds central Gaza camps, deepens invasion of Rafah

CAIRO: Israeli forces pounded areas in the central Gaza Strip overnight, killing three people and wounding dozens of...

Published 20 Jun, 2024 01:20pm

Europe

EU countries agree 14th package of sanctions against Russia

BRUSSELS: EU countries agreed a 14th package of sanctions against Russia over its war in Ukraine, diplomats said on...

Published 20 Jun, 2024 01:10pm

Mutual Funds

JGB yield curve flattens as investors adjust to issuance hints

TOKYO: Japanese short-term government bond yields rose on Thursday while longer-term yields fell, flattening the...

Published 20 Jun, 2024 12:32pm

Europe

Russian air attack damages Ukraine’s energy infrastructure

KYIV: Russian drone and missile strikes damaged energy infrastructure across Ukraine on Thursday in the latest major...

Published 20 Jun, 2024 12:30pm

Middle East

Israel army spokesman says Hamas can’t be defeated ‘as an ideology’

OCCUPIED JERUSALEM: Israel’s top army spokesman said Wednesday that Hamas cannot be defeated as an ideology,...

Published 20 Jun, 2024 12:27pm

Commodities

Palm rangebound as traders eye export estimates

JAKARTA: Malaysian palm oil futures was trading sideways on Thursday as market participants awaited palm oil export...

Published 20 Jun, 2024 11:49am

Forex

Australian dollar hits 16-1/2-year top on yen, kiwi pares gains after GDP

SYDNEY: The Australian dollar climbed to a 16-1/2-year peak on the low-yielding yen on Thursday, bolstered by...

Published 20 Jun, 2024 11:47am

Commodities

China May soy imports from US soar; Brazil arrivals drop for first time this year

BEIJING: China’s soybean imports from the US accelerated in May with a 156% surge from a year earlier, data showed...

Published 20 Jun, 2024 11:43am

Forex

China’s yuan eases to 7-month low after much weaker central bank guidance

SHANGHAI: China’s yuan fell to a fresh seven-month low against the dollar on Thursday, after the central bank set...

Published 20 Jun, 2024 11:40am

Stocks

China stocks slip as Beijing stands pat on benchmark rates

SHANGHAI: China and Hong Kong stocks edged lower on Thursday, dragged down by lacklustre performances in property...

Published 20 Jun, 2024 11:35am

Energy

China’s May fuel oil imports retreat from multi-year highs

SINGAPORE: China’s fuel oil imports cooled in May after hitting multi-year highs in April, data showed on Thursday....

Published 20 Jun, 2024 11:29am

South Asia

At least 31 die in India’s Tamil Nadu state after consuming tainted liquor

At least 31 people died and over 60 were still being treated in hospitals after consuming tainted liquor in the...

Published 20 Jun, 2024 11:23am

Commodities

Copper up on China’s easing monetary policy stance, demand rebound, supply concerns

Copper prices rose on Thursday on China’s central bank’s reinforcement of its easing monetary policy stance, better...

Published 20 Jun, 2024 11:09am

Sports

Rahul Dravid wary as India face Afghanistan in T20 World Cup

BRIDGETOWN: India coach Rahul Dravid warned his side will “not take Afghanistan lightly” in their second-round...

Published 20 Jun, 2024 11:05am

Sports

Just enjoy Messi and Di Maria while you can urges Scaloni

ATLANTA: Argentina coach Lionel Scaloni has urged his compatriots to not worry about when Lionel Messi and Angel Di...

Published 20 Jun, 2024 10:56am

Sports

Scotland show courage to keep Euro 2024 hopes alive

COLOGNE: Scotland were unable to claim a first major tournament victory in 28 years against Switzerland on...

Published 20 Jun, 2024 10:52am

Sports

Kylian Mbappe injury leaves France to prepare Plan B at Euro 2024

PADERBORN: France boast fearsome strength in depth but remain hugely reliant on Kylian Mbappe for inspiration and...

Published 20 Jun, 2024 10:46am

Asia

Vladimir Putin in Hanoi after inking North Korea defence pact

HANOI: Russian President Vladimir Putin begins a state visit to Vietnam on Thursday, a day after signing a mutual...

Published 20 Jun, 2024 10:39am

Stocks

Hong Kong stocks edge up in early trade

HONG KONG: Hong Kong stocks rose at the open Thursday, building on the previous day’s surge, which was fuelled by...

Published 20 Jun, 2024 10:33am

Sports

Phil Salt blasts England to T20 win over West Indies

GROS-ISLET: Phil Salt thrashed a brilliant 87 not out off just 47 balls as defending champions England romped to an...

Published 20 Jun, 2024 10:31am

Asia

Rains lash southern China as rising rivers threaten more flooding

BEIJING: Days of torrential rain, flash floods and landslides across southern China have forced authorities to enact...

Published 20 Jun, 2024 10:25am

Bullion Rate

Gold hits one-week high on Fed rate cut bets

Gold prices climbed to their highest level in a week on Thursday as softer US economic data increased the likelihood...

Published 20 Jun, 2024 10:21am

Stocks

Asian stocks hold on to gains; BoE in focus

SINGAPORE: Asian stocks took a breather on Thursday, hovering near their highest in two years as traders waited for...

Published 20 Jun, 2024 10:19am

Mutual Funds

Indian bonds in consolidation mode with eye on fresh triggers

MUMBAI: Indian government bond yields continued to trade sideways on Thursday as market participants await fresh...

Published 20 Jun, 2024 10:10am

Forex

Indian rupee squeezed by weak Asia, to be likely boosted by positional flows

MUMBAI: The Indian rupee is likely to open largely unchanged on Thursday amid a decline in Asian peers and a widely...

Published 20 Jun, 2024 10:08am

Stocks

Australian shares inch lower as inflation woes persist

Australian shares inched down in early trade on Thursday, with marginal losses in local mining and financial stocks,...

Published 20 Jun, 2024 10:05am

Stocks

Japan’s Nikkei falls as heavyweight stocks track European stocks

TOKYO: Japan’s Nikkei share average fell on Thursday, tracking declines in European stocks in the previous session,...

Published 20 Jun, 2024 10:03am

Stocks

Indian shares open marginally higher led by private banks

BENGALURU: Indian shares opened marginally higher on Thursday, led by private sector banks after positive commentary...

Published 20 Jun, 2024 09:58am

Forex

Sterling steady ahead of BoE decision; dollar wobbles against yen

SINGAPORE: The British pound held broadly steady on Thursday ahead of a rate decision from the Bank of England (BoE)...

Published 20 Jun, 2024 09:54am

Commodities

Wheat futures extend losses as crop forecast eases supply fears

SINGAPORE: Chicago wheat futures edged lower on Thursday as harvests in the United States and elsewhere and higher...

Published 20 Jun, 2024 09:51am

Gandapur threatens to move IMF over dues ‘owed’ by federal govt

PESHAWAR: Chief Minister Khyber Pakhtunkhwa Sardar Ali Amin Gandapur severely criticised the federal government for...

Updated 20 Jun, 2024 09:42am

ATIR members: Appointments must be through open ad, selection process: IHC

ISLAMABAD: Islamabad High Court (IHC) says that Appellate Tribunal Inland Revenue’s members’ appointments shall be...

Updated 20 Jun, 2024 09:39am

PM appreciates UAE’s consistent support to Pakistan

ISLAMABAD: Prime Minister Shehbaz Sharif held a telephone conversation with President of the United Arab Emirates...

Updated 20 Jun, 2024 09:38am

Banks have a year to shift clearing from London to EU: Eurex

LONDON: A shift in chunks of euro derivatives clearing from London to European Union countries is now inevitable and...

Updated 20 Jun, 2024 09:33am

Boeing CEO recognises ‘gravity’ of safety crisis but sees ‘progress’

WASHINGTON: Boeing’s CEO acknowledged to a US congressional panel Tuesday that the company’s culture was imperfect,...

Updated 20 Jun, 2024 09:32am

Naqvi in contact with KP CM over loadshedding issue

ISLAMABAD: In a significant development, Federal Interior Minister Mohsin Naqvi and Khyber Pakhtunkhwa Chief...

Updated 20 Jun, 2024 09:31am

Nuclear arms spending soars as global tensions swell: studies

GENEVA: Nuclear-armed countries hiked spending on atomic weapons arsenals by a third in the past five years as they...

Updated 20 Jun, 2024 09:25am

BR’s refresher: your morning briefing for the day

Important updates from June 19, 2024

Published 20 Jun, 2024 09:02am

Budget reservations: PM invites Bilawal to PM House

ISLAMABAD: Chairman Pakistan Peoples Party (PPP) Bilawal Bhutto-Zardari has accepted an invitation from Prime...

Updated 20 Jun, 2024 09:01am

GST on infant food, milk in phases

ISLAMABAD: The tax policy of introducing sales tax in three stages, starting from 5 percent on infant formula, baby...

Updated 20 Jun, 2024 09:00am

BR Research

Irrational budget measures fuelling malnutrition

The budget-making process is not well thought out. The government must largely comply with the IMF revenue and...

Published 20 Jun, 2024 08:40am

BR Research

Fuel adjustments: Better FY25 in sight

Power generation in May 2024 was the first monthly recording of a year-on-year increase in eight months – as the...

Published 20 Jun, 2024 08:35am

BR Research

Fauji Cement Company Limited

Fauji Cement Company Limited (PSX: FCCL) was incorporated in Pakistan as a public company in 1992 and commenced its...

Published 20 Jun, 2024 08:27am

World

Chomsky discharged from hospital

SAO PAULO: American intellectual, linguist and dissident Noam Chomsky was discharged from a hospital in Sao Paolo...

Updated 20 Jun, 2024 07:14am

Taxes

KPRA asks wedding halls to opt for either fixed sales tax regime or percentage regime

PESHAWAR: Khyber Pakhtunkhwa Revenue Authority has fixed 25th of this month as deadline for the owners of wedding...

Updated 20 Jun, 2024 06:34am

Editorials

Signs of political ice melting

EDITORIAL: It came as a very welcome surprise. PTI Chairman Gohar Ali Khan told journalists last week that the...

Published 20 Jun, 2024 06:10am

Editorials

Missed revenue targets

EDITORIAL: The Federal Board of Revenue’s contention that it will fall short of its revenue target of Rs9.42...

Published 20 Jun, 2024 06:10am

Middle East

Fighting in Rafah as tensions soar on Israel-Lebanon border

GAZA STRIP: Israeli air strikes and clashes between troops and Palestinian militants rocked Gaza on Wednesday, as...