News Archives for Latest - 2024-06-21

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Archive - 2024-06-21

Cricket

Nortje and De Kock star as South Africa edge England in T20 World Cup

GROS-ISLET: Anrich Nortje held his nerve as South Africa remained unbeaten at the T20 World Cup after defeating...

Updated 22 Jun, 2024 12:09am

Stocks

KSE-100 sees resistance at 80,000, closes flat after over 1,250-point gain

The KSE-100 saw wild swings on Friday, crossing the 80,000 barrier with an over 1,250-point gain in the morning...

Updated 21 Jun, 2024 11:47pm

Business & Economy

FY2024-25: Balochistan govt presents Rs955.6bn provincial budget

Provincial govt proposes up to 25% increase in salaries, 15% raise in pensions

Updated 21 Jun, 2024 11:34pm

Pakistan

China determined to build upgraded version of CPEC with Pakistan: senior Chinese minister

Minister of Central Committee of the International Department of Communist Party of China Liu Jianchao meets Deputy Prime Minister and Foreign Minister Ishaq Dar

Updated 21 Jun, 2024 11:33pm

Pakistan

Five soldiers martyred in Kurram IED blast: ISPR

Five Pakistan Army soldiers were martyred in a terrorist attack in Khyber Pakhtunkhwa’s (KP) Kurram district on...

Updated 21 Jun, 2024 11:33pm

Forex

Pakistan’s REER index down 3.62% MoM in May, now stands at 100.67

Pakistan’s Real Effective Exchange Rate (REER), a measure of the value of a currency against a weighted average of...

Updated 21 Jun, 2024 11:31pm

Markets

Post-floods resilience: World Bank approves $535mn for two projects in Pakistan

Lender says additional financing will build on on-going efforts to equip Pakistan’s social protection system with policy and delivery system foundations necessary for more effective and rapid responses to future crises

Updated 21 Jun, 2024 11:30pm

Perspectives

Trouble in (genocidal) paradise?

A comedy of errors is slowly playing out on our screens this week. Or maybe it is just another perfectly calibrated...

Updated 21 Jun, 2024 11:23pm

Business & Economy

Pakistan’s current account posts deficit of $270mn in May 2024

Overall, during 11 months of ongoing fiscal year, current account balance stands at deficit of $464mn

Updated 21 Jun, 2024 11:00pm

Europe

Ukraine says Global South nation could host second peace summit

Ukraine believes a second summit to consider Kyiv’s proposals for peace with Russia could be hosted by a country in...

Published 21 Jun, 2024 10:58pm

Europe

Germany arrests Ukrainian, Russian on spying charges

BERLIN: German prosecutors said Friday they had arrested three men – a Russian, a Ukrainian and an Armenian – on...

Published 21 Jun, 2024 10:46pm

Currency

Rupee gains marginally against US dollar

Currency settles at 278.51 against greenback in inter-bank market

Updated 21 Jun, 2024 10:41pm

Companies

Chinese giant BYD partners with HUBCO subsidiary to introduce EVs in Pakistan

HUBCO announced on Friday that its wholly-owned subsidiary (Hub Power Holdings) – through its associated company...

Updated 21 Jun, 2024 09:50pm

Pakistan

US supports direct discussions between Pakistan, India: State Dept

Spokesperson Matthew Miller says the US values its important relationships with both India and Pakistan

Updated 21 Jun, 2024 09:46pm

Stocks

S&P 500, Nasdaq lower as semiconductor shares weigh

The S&P 500 and the Nasdaq fell on Friday weighed down by chip stocks, while investors also assessed...

Published 21 Jun, 2024 09:25pm

Stocks

FTSE 100 snaps five-week losing streak as inflation back to BoE’s target

London stocks closed the week on a positive note after domestic inflation fell to the Bank of England’s 2% target...

Published 21 Jun, 2024 09:21pm

Pakistan

Chinese minister commends Pak Army for ensuring security of CPEC projects in meeting with COAS

Minister of the International Department of the Central Committee of the Communist Party of China (IDCPC) Liu...

Published 21 Jun, 2024 07:31pm

Europe

EU countries to provide up to 60% of $50bn loan for Ukraine, Italy says

ROME: European Union countries are set to provide up to 60% of the $50 billion loan that the Group of Seven major...

Published 21 Jun, 2024 07:25pm

South Asia

Court blocks Modi opponent Kejriwal’s release from prison

NEW DELHI: An Indian court stopped on Friday the release from jail of one of Prime Minister Narendra Modi’s chief...

Published 21 Jun, 2024 06:21pm

South Asia

New Delhi in touch with family of Indian suspect in Sikh murder plot in US

NEW DELHI: New Delhi is in touch with the family of an Indian man who is accused of plotting with an Indian...

Published 21 Jun, 2024 06:04pm

Stocks

Dubai stocks log third weekly gain as UAE’s shares end higher

Stock markets in the United Arab Emirates ended higher on Friday, supported by a broad-based gains, with the Dubai...

Published 21 Jun, 2024 05:59pm

Africa

Uganda signs deal with UAE to build third international airport

KAMPALA: Uganda has signed a pact with a business association from the United Arab Emirates to build a new...

Published 21 Jun, 2024 05:54pm

Energy

Oil set for second week of gains on signs of improving demand

Crude oil futures were little changed on Friday but on course to rise for a second week amid signs of improving...

Updated 21 Jun, 2024 05:26pm

Europe

Russia tells US: we need to talk, but Ukraine must be on agenda

MOSCOW: Russia sees a pressing need for security talks with the United States but they must be “comprehensive” and...

Published 21 Jun, 2024 05:24pm

Energy

Global LNG: Asia prices hold steady amid Northeast Asia heat, nearing South Asia monsoons

SINGAPORE: Asian spot liquefied natural gas (LNG) prices held steady this week amid higher temperatures in Northeast...

Published 21 Jun, 2024 05:13pm

Cricket

Hat-trick may not spare Cummins from T20 World Cup chop

NORTH SOUND: Pat Cummins admits that even taking the first hat-trick of the T20 World Cup may not save him from the...

Published 21 Jun, 2024 05:01pm

Health & Wellness

Modi leads yoga day celebration in IIOJK

OCCUPIED SRINAGAR: Stretching, arching his back and kneeling on a mat, India’s Hindu nationalist Prime Minister...

Published 21 Jun, 2024 05:00pm

Commodities

Gold price per tola increases Rs1,600 in Pakistan

Gold prices increased in Pakistan on Friday in line with an uptick in the international rate. In the local market,...

Published 21 Jun, 2024 04:42pm

Stocks

Indian shares dip on profit booking, but still log third week of gains

BENGALURU: Indian shares ended lower on Friday, once again succumbing to profit booking after hitting all-time...

Published 21 Jun, 2024 04:42pm

Commodities

Copper resumes downtrend on supply overhang and weak demand

LONDON: Copper prices slipped on Friday on concern over surplus supplies and sluggish demand in top metals consumer...

Published 21 Jun, 2024 04:39pm

Commodities

Palm tracks rival oils lower, posts third weekly drop

JAKARTA: Malaysian palm oil futures posted a third consecutive weekly drop as the market retreated on Friday after...

Published 21 Jun, 2024 04:36pm

Third-party audit of fertilizer companies ordered

ISLAMABAD: The Ministry of Industries and Production has decided to conduct a third-party audit of the fertiliser...

Updated 21 Jun, 2024 04:01pm

Finance Bill 2024: Wealth Statement now in sharp focus

New bill proposes to extend the scope of best judgment assessment under section 121 of the Ordinance

Updated 21 Jun, 2024 04:00pm

Luxury

Bugatti’s speedy hybrid has $4mn-plus price tag

PARIS: Supercar maker Bugatti on Thursday showed off its first hybrid car with a top speed of about 445 kilometres...

Updated 21 Jun, 2024 03:47pm

Movies & Music

Eddie Murphy brings ’80s to modern day with new ‘Beverly Hills Cop’ film

LOS ANGELES: Thirty years since his third and last outing, Eddie Murphy’s “Beverly Hills Cop” Axel Foley is back on...

Published 21 Jun, 2024 01:45pm

Stocks

European shares open lower as tech losses weigh

European shares opened lower on Friday, with technology shares at the helm of the selloff, while Danish brewer...

Published 21 Jun, 2024 01:44pm

Stocks

London stocks inch lower after strong retail sales data; PMI figures loom

London’s FTSE opened slightly lower on Friday after a hot reading of British retail sales data, but was set to log a...

Published 21 Jun, 2024 01:42pm

Middle East

Israeli forces step up bombardment across Gaza, amid fierce fighting

CAIRO: Israeli forces pounded Rafah and other areas across the Gaza Strip and engaged in close-quarter combat with...

Published 21 Jun, 2024 01:37pm

Business & Finance

Morocco’s annual inflation raises to 0.4% in May

RABAT: Morocco’s annual inflation, measured by the consumer price index, rose to 0.4% in May from 0.2% a month...

Published 21 Jun, 2024 01:34pm

Forex

South African rand slips, focus on president’s cabinet appointments

JOHANNESBURG: South Africa’s rand edged lower early on Friday, as investor focus remained on President Cyril...

Published 21 Jun, 2024 01:30pm

Perspectives

Tax exemption for IT export employees is dangerous, will hurt Pakistan

The Pakistan IT Industry Association (P@SHA)is asking the government for a tax exemption for IT export sector...

Published 21 Jun, 2024 12:40pm

Commodities

Copper prices set for weekly gain on demand pick-up

Copper futures dropped on Friday on a stronger dollar, although the London contract was poised for its first weekly...

Published 21 Jun, 2024 11:57am

Stocks

China stocks track global markets lower amid strong outflows

SHANGHAI: China stocks slumped on Friday, tracking regional peers lower amid strength in the US dollar and a...

Published 21 Jun, 2024 11:54am

Forex

China’s yuan slips to fresh 7-month lows as outflows mount

SHANGHAI: China’s yuan dipped to a fresh seven-month low against the dollar on Friday, hurt by portfolio outflows...

Published 21 Jun, 2024 11:45am

Mutual Funds

JGB yields rise as weakened yen stirs BOJ policy concerns

TOKYO: Japanese government bond (JGB) yields moved higher on Friday, as a weaker yen put concerns about the Bank of...

Published 21 Jun, 2024 11:43am

Commodities

Wheat heads for fourth weekly loss on improving supply

SINGAPORE: Chicago wheat futures were headed for a fourth consecutive weekly loss on Friday as northern hemisphere...

Published 21 Jun, 2024 11:40am

South Asia

Death toll from India tainted liquor tragedy rises to 47

The death toll from the latest case of tainted liquor in the southern Indian state of Tamil Nadu has climbed to 47,...

Published 21 Jun, 2024 11:32am

Sports

Afghanistan batters failed the Jasprit Bumrah test, says coach Trott

BRIDGETOWN: Afghanistan coach Jonathan Trott was disappointed with the shot selection of his batters in their defeat...

Published 21 Jun, 2024 11:29am

Stocks

Asian shares end the week with a whimper, yen back to intervention watch

SYDNEY: Asian shares are ending the week with a whimper after a recent rally to 26-month highs drew profit-taking,...

Published 21 Jun, 2024 11:23am

Business & Finance

IMF signs off new $786 million Tanzania loan agreement

WASHINGTON: The IMF executive board approved a new loan program with Tanzania worth around $786 million on Thursday...

Published 21 Jun, 2024 11:11am

Sports

Spain beat Italy to reach Euro 2024 knockouts, England thwarted by Denmark

GELSENKIRCHEN: Spain secured a spot in the knockout stages of Euro 2024 with a 1-0 victory over Italy in their...

Published 21 Jun, 2024 11:09am

Sports

Lionel Messi becomes most capped player in Copa America history

ATLANTA: Argentina star Lionel Messi became the most-capped player in Copa America history on Thursday as he reached...

Published 21 Jun, 2024 11:03am

Business & Finance

Japan inflation ticks up in May to 2.5%

TOKYO: The pace of Japanese inflation accelerated in May partly due to higher energy bills, government data showed...

Published 21 Jun, 2024 11:00am

Sports

Belgium in danger of Euro flop as vital Romania clash looms

COLOGNE: Belgium are in danger of an embarrassing early exit from Euro 2024 as the serial underachievers face a...

Published 21 Jun, 2024 10:58am

USA

Donald Trump promises US green card for foreign graduates

WASHINGTON: Donald Trump said he wants to grant green cards to foreign graduates from US colleges, in an apparent...

Published 21 Jun, 2024 10:54am

Stocks

Hong Kong stocks open with losses

HONG KONG: Hong Kong stocks fell at the open Friday following a tepid performance on Wall Street, even as data...

Published 21 Jun, 2024 10:52am

Sports

Argentina begin Copa title defence with 2-0 win over Canada

ATLANTA: World champions Argentina opened their bid for back-to-back Copa America titles with a 2-0 win over Canada...

Published 21 Jun, 2024 10:49am

Sports

Australia beat Bangladesh in rain-hit T20 World Cup match

NORTH SOUND: Pat Cummins claimed a hat-trick and David Warner thrashed a quick-fire 53 not out as Australia beat...

Published 21 Jun, 2024 10:44am

Asia

South Korea fires warning shots after new border incursion

SEOUL: Seoul’s military said Friday it had fired warning shots after North Korean soldiers briefly crossed the...

Published 21 Jun, 2024 10:38am

South Asia

After electoral setback, Modi may be forced to amend India’s food policy

MUMBAI/NEW DELHI: Indian Prime Minister Narendra Modi is facing a policy conundrum after losing ground in the recent...

Published 21 Jun, 2024 10:31am

Commodities

Palm falls, tracking rival oils; set for third weekly drop

JAKARTA: Malaysian palm oil futures fell on Friday, snapping two consecutive sessions of gain, weighed down by weak...

Published 21 Jun, 2024 10:22am

Bullion Rate

Gold set for weekly gain on US rate-cut optimism, geopolitical woes

Gold prices were poised for a second consecutive weekly gain on Friday, driven by safe-haven demand amid tensions in...

Published 21 Jun, 2024 10:19am

Europe

Russia says it downed 70 Ukrainian drones over Black Sea, Crimea, RIA reports

Russian air defences downed 70 Ukrainian drones over the Black Sea and Crimea overnight, the RIA news agency cited...

Published 21 Jun, 2024 10:17am

Mutual Funds

India bond yields flat as traders eye debt sale, central bank policy minutes

MUMBAI: Indian government bond yields were largely unchanged at the open on Friday as traders awaited fresh debt...

Published 21 Jun, 2024 10:14am

Forex

Indian rupee likely to pull back from all-time low, relies on RBI support

MUMBAI: The Indian rupee is likely to inch higher at open on Friday, relying on support from the central bank, after...

Published 21 Jun, 2024 10:12am

Stocks

Mining, gold stocks lift Australian shares; central bank’s hawkish stance caps gains

Australian shares rose marginally on Friday, led by mining and gold stocks, although dwindling hopes of an interest...

Published 21 Jun, 2024 10:10am

Stocks

India’s Nifty 50 hits record high as IT stocks jump

BENGALURU: India’s benchmark Nifty 50 index hit a record high on Friday, boosted by information technology stocks...

Published 21 Jun, 2024 10:09am

Forex

Dollar scales multi-week highs as other central banks more dovish than Fed

TOKYO: The US dollar pushed to a fresh eight-week top above 159 yen and clung close to a five-week peak to sterling...

Published 21 Jun, 2024 10:03am

e-vehicles, telecom sector: FBR vows to review omission of incentives

ISLAMABAD: The Federal Board of Revenue (FBR) has assured the finance committee that it will review the omission of...

Updated 21 Jun, 2024 09:17am

APTMA urges govt to revisit Finance Bill

ISLAMABAD: All Pakistan Textile Mills Association (APTMA) expressing serious concerns over the FY25 budget stated...

Updated 21 Jun, 2024 09:15am

Developing an electricity market: ADB wing rates TA as successful and relevant

ISLAMABAD: The Independent Evaluation Department (IED) of the Asian Development Bank (ADB) has rated technical...

Updated 21 Jun, 2024 09:15am

Eid-ul-Azha: 6,234,700 hides, skins worth over Rs6bn collected: PTA

KARACHI: Pakistan Tanners Association has estimated collection of around 6,234,700 hides and skin worth more than Rs...

Updated 21 Jun, 2024 09:05am

BR Research

Data Agro Limited

Data Agro Limited (PSX: DAAG) was incorporated in Pakistan as a private limited company in 1992 and was converted...

Published 21 Jun, 2024 08:52am

BR Research

Autos: It’s not over

In a great display of resilience, automobile sales have remained consistently strong on May 24 after delivering a...

Published 21 Jun, 2024 08:59am

BR Research

Climate change impact on Pakistan

Alarms bells have rung as speakers at a recent seminar, “Disaster Resilient Pakistan” organized by the National...

Published 21 Jun, 2024 08:56am

Reservations will be fully addressed, PM tells Bilawal

ISLAMABAD: A delegation of Pakistan Peoples Party (PPP) headed by Chairman Bilawal Bhutto-Zardari met with Prime...

Updated 21 Jun, 2024 08:54am

CCoSOEs approve nominations for Discos’ boards

ISLAMABAD: A meeting of the Cabinet Committee on State-Owned Enterprises (CCoSOEs) has approved nominations for...

Updated 21 Jun, 2024 08:53am

Pakistan

President for enhanced capacity of LEAs

GWADAR: President Asif Ali Zardari has called for enhancing the capacity of the Law Enforcement Agencies (LEAs),...

Updated 21 Jun, 2024 08:52am

Discos’ overbilling, MDI manipulation by industries: PM directs PD to initiate forensic audit, inquiry

ISLAMABAD: Prime Minister Shehbaz Sharif has directed the Power Division to initiate forensic audit/inquiry into the...

Updated 21 Jun, 2024 08:52am

Punjab govt decides to restructure ministries, depts

LAHORE: To bring improvements in the government and governance system in Punjab, the government has decided to...

Updated 21 Jun, 2024 08:52am

BR’s refresher: your morning briefing for the day

Important updates from June 20, 2024

Published 21 Jun, 2024 08:50am

Opinion

Fixing fiscal imbalances

Though Pakistan’s fiscal imbalances have been persisting since its inception, yet no serious efforts are yet in ...

Updated 21 Jun, 2024 07:26am

Opinion

Shaheed Rani’s birth anniversary and a gift more valuable than life

June 21 marks the birth anniversary of Shaheed Benazir Bhutto. Born into a royal family of Sindh on June 21, 1953,...

Updated 21 Jun, 2024 06:59am

Opinion

Climate change, austerity policy, and IMF programme

Pakistan is likely to enter into an Extended Fund Facility (EFF) programme – which is different from a standby...