News Archives for Latest - 2024-06-28

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Archive - 2024-06-28

Markets

Brokerage houses see inflation rate in Pakistan to go over 12% in June

Two brokerage houses said they see CPI-based inflation reading inching slightly higher, and hovering around 12-13%...

Updated 28 Jun, 2024 11:58pm

Business & Economy

Govt passes tax-laden budget ahead of talks on fresh IMF loan

Some amendments part of the final budget

Updated 28 Jun, 2024 11:57pm

Pakistan

Tit-for-tat: Pakistan adopts resolution against US call for election probe

Resolution condemns US representatives' move, terming that contrary to facts and interference in Pakistan’s internal affairs

Updated 28 Jun, 2024 11:56pm

Markets

Bank holiday: SBP to remain closed on July 1

The State Bank of Pakistan (SBP) will remain closed for public dealing on Monday, July 1, 2024, which shall be...

Published 28 Jun, 2024 11:09pm

World

One killed, six injured in Russian missile attack on Ukraine’s Dnipro

KYIV: A Russian missile strike hit a nine-storey residential building in the central Ukrainian city of Dnipro on...

Published 28 Jun, 2024 10:44pm

Companies

Pakistan’s Ismail Industries to set up subsidiary in UAE

Offering a business-friendly environment, the UAE has emerged as the top destination for Pakistani corporations as...

Updated 28 Jun, 2024 10:29pm

Europe

Putin says Russia should produce previously banned missiles

MOSCOW: Russian President Vladimir Putin said Friday that Russia should start producing short and intermediate-range...

Published 28 Jun, 2024 10:29pm

Pakistan

Contempt of court: SC accepts Vawda, Kamal’s apologies

The Supreme Court (SC) accepted on Friday apologies tendered by lawmakers Faisal Vawda and Mustafa Kamal on their...

Updated 28 Jun, 2024 09:34pm

Exchange

Rupee sees marginal improvement against US dollar in final session of FY24

During FY24, PKR appreciated 2.8% YoY against the greenback overall

Updated 28 Jun, 2024 08:46pm

Stocks

Wall Street jumps after cooling inflation data

US stocks rose broadly on Friday after an in-line inflation report strengthened hopes for interest rate cuts in...

Published 28 Jun, 2024 07:54pm

Stocks

KSE-100 closes nearly flat on last day of FY2023-24

In FY2023-24, benchmark index shows 89% growth

Updated 28 Jun, 2024 07:48pm

Stocks

UAE markets jump on strong oil prices

Stock markets in the United Arab Emirates closed higher on Friday, tracking oil prices on worries that a potential...

Published 28 Jun, 2024 06:49pm

Sports

Pakistan’s first Olympic markswoman guns for historic medal

JHELUM: Slowing her breath and focusing on a bullseye in her pistol’s sights, Kishmala Talat is aiming to become the...

Updated 28 Jun, 2024 06:47pm

Stocks

Sri Lanka shares end lower as energy, consumer staples drag; June inflation rises

CSE All-Share index settled 0.37% lower at 12,143.76

Published 28 Jun, 2024 06:46pm

Pakistan

HRCP raises alarm over ‘gender apartheid’ in Afghanistan ahead of Doha talks

The Human Rights Commission of Pakistan (HRCP) has raised concerns over the United Nations (UN) led talks with the...

Published 28 Jun, 2024 06:34pm

Luxury

Singapore retains title as the world’s most expensive city for second year in a row

Singapore retained its title as the world’s most expensive city to live extremely well in for the second year in a...

Updated 28 Jun, 2024 06:04pm

Europe

Russian shelling kills four in east Ukraine town

KYIV: Russian shelling killed four people and injured three others including an eight-year-old child, in the east...

Published 28 Jun, 2024 05:52pm

Luxury

‘Dubai’s residential property still relatively affordable compared to regional cities’

Global Wealth & Lifestyle Report 2024 says emirate's status as robust and stable economic hub make it attractive place of residence

Updated 28 Jun, 2024 05:48pm

Europe

Turkiye removed from FATF money laundering grey list in boost to standing

ANKARA/PARIS: The international crime watchdog Financial Action Task Force (FATF) removed Turkiye from its “grey...

Published 28 Jun, 2024 05:42pm

Markets

PTCL secures $400mn loan from IFC for Telenor Pakistan acquisition

Pakistan Telecommunication Company Limited (PTCL) has secured debt financing of up to $400 million from the...

Updated 28 Jun, 2024 05:35pm

South Asia

Anti-money laundering watchdog FATF says India in compliance with its rules

NEW DELHI: A global anti-money laundering watchdog said on Friday that India had largely complied with its rules,...

Published 28 Jun, 2024 05:27pm

Energy

Global LNG: Asia spot prices buoyed by hot summer weather forecasts

SINGAPORE: Asian spot liquefied natural gas (LNG) prices held steady this week as forecasts of higher temperatures...

Published 28 Jun, 2024 05:14pm

Arts

Hong Kong museum celebrates life of architect I.M. Pei

HONG KONG: More than 30 years after I.M. Pei reshaped Hong Kong’s skyline with a jagged tower of steel and glass,...

Published 28 Jun, 2024 05:11pm

South Asia

India’s fiscal deficit in April-May at $6.1bn

NEW DELHI: India’s fiscal deficit for the first two months of the current financial year that started April 1 stood...

Published 28 Jun, 2024 05:10pm

Money & Banking

India’s forex reserves rise to $653.71 billion as of June 21

MUMBAI: India’s foreign exchange reserves rose by $810 million and stood at $653.71 billion as of June 21, data from...

Published 28 Jun, 2024 05:04pm

Stocks

Indian shares off record highs but post best month in 2024

BENGALURU: India’s benchmark equity indexes came off record highs on Friday, but ended the month with their best...

Published 28 Jun, 2024 04:59pm

Taxes

New taxation steps won’t hurt the poor: Sindh CM

KARACHI: Sindh Chief Minister Syed Murad Ali Shah on Thursday assured the Sindh Assembly that new taxation will not...

Updated 28 Jun, 2024 04:56pm

Commodities

Copper rebounds on rate cut hopes, technical buying

LONDON: Copper prices rose on Friday ahead of U.S. inflation data that could support future rate cuts and as some...

Published 28 Jun, 2024 04:54pm

Commodities

Palm oil clocks first weekly rise in four

BEIJING: Malaysian palm oil futures ended higher for a third session on Friday, snapping a three-week decline, on...

Published 28 Jun, 2024 04:49pm

Commodities

Gold price per tola increases Rs700 in Pakistan

Gold prices in Pakistan continued to register gains for the second consecutive session, in line with an increase in...

Published 28 Jun, 2024 03:32pm

Opinion

Federal budget and pro-cyclical policy

The federal budget, due to come into effect in the next few days, has continued with the pro-cyclical policy...

Updated 28 Jun, 2024 03:16pm

EPQL seeks to buy low BTU gas from PPL’s Kandhkot field

ISLAMABAD: M/s Engro Powergen Qadirpur Limited (EPQL) has reiterated its interest in purchase of 50 MMCFD low BTU...

Updated 28 Jun, 2024 03:12pm

ECC decides to establish pension funds from July 1

ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has decided to establish the pension funds from...

Updated 28 Jun, 2024 03:11pm

Stocks

Europe stock markets open on mixed note

LONDON: Europe’s main stock markets were mixed at the start of trading on Friday, as investors digested economic...

Published 28 Jun, 2024 02:50pm

Energy

Oil rises on rate cut hopes, higher margins; poised for third weekly gain

Oil prices rose in Asian trade on Friday and were poised for a third straight weekly jump, buoyed by growing...

Updated 28 Jun, 2024 02:38pm

Forex

South African rand gains as cabinet announcement wait drags on

JOHANNESBURG: The South African rand clawed back some losses in early trade on Friday, as the wait for the...

Published 28 Jun, 2024 02:17pm

Travel

From discounts to live performances: Dubai Summer Surprises launches largest edition

DUBAI: The Dubai Summer Surprises (DSS) – now in its 27th year – will begin today (Friday) and run until September...

Updated 28 Jun, 2024 02:06pm

Stocks

FTSE 100 opens higher, on track for fourth quarterly gain

Britain’s blue-chip stock index opened higher on Friday, on course to log its fourth consecutive quarterly gain,...

Published 28 Jun, 2024 01:48pm

Forex

Rouble weakens after exporters complete forex sales for tax payments

MOSCOW: The Russian rouble weakened against the dollar after exporters completed their forex sales to meet Friday’s...

Published 28 Jun, 2024 01:45pm

Sports

Unbeaten India and South Africa ready to end glory waits in T20 World Cup final

BRIDGETOWN: Unbeaten throughout almost a month of cricket across the USA and the Caribbean, India and South Africa...

Published 28 Jun, 2024 01:42pm

Sports

Low-profile Walter leads South Africa to promised land of World Cup final

BRIDGETOWN: After years of high profile coaches, it is the relatively unknown Rob Walter who stands on the brink of...

Published 28 Jun, 2024 01:30pm

South Asia

Polls open in Iran for presidential election

TEHRAN: Polls in Iran opened on Friday for a presidential election following the death of ultraconservative...

Updated 28 Jun, 2024 12:35pm

Europe

Russian oil depot on fire after Ukrainian drone strike

MOSCOW: A Ukrainian drone hit a petrol depot early Friday setting it on fire, a Russian regional governor said,...

Published 28 Jun, 2024 12:33pm

Europe

UK exits recession with stronger-than-expected growth

LONDON: Britain’s economy emerged from a short-lived recession in the first quarter with stronger-than-anticipated...

Published 28 Jun, 2024 12:28pm

World

7.2 magnitude earthquake strikes off Peru, tsunami threat over: USGS

LIMA: A magnitude 7.2 earthquake struck off the coast of central Peru on Friday, the United States Geological Survey...

Published 28 Jun, 2024 12:26pm

Stocks

China stocks seesaw as investors cautious on US presidential debate

SHANGHAI: China stocks traded sideways after opening lower on Friday, as investors cautiously watched the first live...

Published 28 Jun, 2024 12:20pm

Sports

Panama score late goal to stun 10-man US at Copa America

ATLANTA: Panama pulled off a shock 2-1 victory over the United States in a heated Group C encounter at the Copa...

Published 28 Jun, 2024 12:18pm

Commodities

Wheat set for biggest monthly drop in 2 years on harvest pressure

SINGAPORE: Chicago wheat retreated on Friday from strong gains posted in the previous session, with the market on...

Published 28 Jun, 2024 12:14pm

Commodities

London copper set for biggest monthly fall since May 2023

Copper prices in London firmed on Friday, but were on track for their biggest monthly decline since May 2023 amid...

Published 28 Jun, 2024 12:11pm

Asia

China’s Xi calls for ‘bridges’ in global economy

BEIJING: Chinese President Xi Jinping on Friday called for the building of “bridges” in the era of economic...

Published 28 Jun, 2024 12:08pm

Commodities

Palm oil gains, set to end three-week decline

BEIJING: Malaysian palm oil futures rose for a third day on Friday, on course to snap a three-week decline,...

Published 28 Jun, 2024 11:51am

Forex

Australian dollar slips to 10-day low, bonds rally to end tough week

SYDNEY: The Australian dollar fell to a 10-day low on Friday as markets pared the chance of a rate hike on dovish...

Published 28 Jun, 2024 11:48am

Sports

Noah Lyles, Richardson breeze through 200m heats at US trials

Noah Lyles and Sha’Carri Richardson made light work of the 200m heats on Thursday as the US Olympic trials returned...

Published 28 Jun, 2024 11:44am

USA

Joe Biden falters as Trump unleashes barrage of falsehoods at first debate

ATLANTA: President Joe Biden delivered a shaky, halting performance while his Republican rival Donald Trump battered...

Published 28 Jun, 2024 11:38am

Europe

Russian defence minister orders measures taken over US drones in Black Sea

MOSCOW: Russian defence minister Andrei Belousov has ordered the general staff to take measures to address increased...

Published 28 Jun, 2024 11:19am

Sports

Uruguay put five past Bolivia to edge closer to Copa quarters

EAST RUTHERFORD: Uruguay thrashed tournament minnows Bolivia 5-0 in their Group C encounter in New Jersey on...

Published 28 Jun, 2024 11:15am

South Asia

Roof collapses at Delhi airport, one dead, departures cancelled

A roof collapsed under heavy rainfall and winds at the main airport in India’s capital New Delhi on Friday, killing...

Published 28 Jun, 2024 11:10am

World

US invites Arab, Israeli foreign ministers to NATO summit, FT says

The United States has invited the foreign ministers of Israel and several Arab countries to a NATO summit in...

Published 28 Jun, 2024 10:54am

Forex

China’s yuan edges higher, traders digest US presidential debate

HONG KONG: The yuan rose slightly against the dollar but remained near seven-month lows, with the first US...

Published 28 Jun, 2024 10:26am

Stocks

Asia shares eye five-month winning streak; yen buckles under dollar strength

SINGAPORE: Asian stocks were headed for a fifth straight month of gains on Friday, bolstered by the growing view...

Published 28 Jun, 2024 10:24am

Stocks

Australian shares set to post modest H1 gains as economic woes weigh

Australian shares rose on Friday, setting up the benchmark index for modest gains for the first half of the year, as...

Published 28 Jun, 2024 10:15am

Bullion Rate

Gold set for third quarterly gain; traders await US inflation data

Gold prices eased on Friday, but were set for a third straight quarterly rise, while investors look forward to US...

Published 28 Jun, 2024 10:09am

Stocks

Japan’s Topix hits 34-year peak as banks advance, tech rebounds

TOKYO: Japan’s Topix stock index climbed to a 34-year high on Friday, as banks gained amid a gradual rise in...

Published 28 Jun, 2024 10:06am

Mutual Funds

Indian bond traders expect index-related flows in debt, yields flattish

MUMBAI: Indian government bond yields were flattish in early trades on Friday, as market participants expected...

Published 28 Jun, 2024 10:04am

Forex

Indian rupee eyes bond inflows; US inflation data on tap

MUMBAI: The Indian rupee on Friday will likely be helped by the expected inflows from the inclusion of the nation’s...

Published 28 Jun, 2024 10:01am

Stocks

India’s Nifty 50 set to hit record high; Reliance in focus

BENGALURU: India’s benchmark Nifty 50 index is set to hit a record high at the open on Friday, while oil-to-telecom...

Published 28 Jun, 2024 09:58am

Vitol wins tender from govt-owned LPG company

ISLAMABAD: M/s Vitol Trading Company, the world’s largest energy trading enterprise, has won tender from Pakistan’s...

Updated 28 Jun, 2024 09:56am

Forex

Dollar barges past 161 yen and eyes quarterly rise

SINGAPORE: The dollar was headed for a second straight quarterly gain and jumped to a near four-decade high on the...

Published 28 Jun, 2024 09:54am

Likely amendments in finance bill: Govt becomes flexible about non-filers

Proposed amendments relate to non-filers, wealth statement, foreign assets, and withholding tax-related provisions

Updated 28 Jun, 2024 09:54am

Power tariff hike, loadshedding: Consumers heap criticism on Nepra at hearing

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) on Thursday faced criticism from consumers at a...

Updated 28 Jun, 2024 09:23am

Petrol, HSD prices likely to increase

ISLAMABAD: Petrol and high-speed diesel (HSD) prices are likely to increase in Pakistan from July 01, 2024....

Updated 28 Jun, 2024 09:21am

Business & Finance

CDWP clears 26 uplift projects

ISLAMABAD: The Central Development Working Party (CDWP) cleared as many as 26 development projects worth Rs900...

Updated 28 Jun, 2024 09:18am

NA may approve budget today

ISLAMABAD: The National Assembly Friday (June 28) is likely to approve Budget-2024-25 including The Finance Bill,...

Updated 28 Jun, 2024 09:17am

Business & Finance

OICCI says has identified ‘critical anomalies’

KARACHI: In a letter to the FBR Anomaly Committee, the Overseas Investors Chamber of Commerce and Industry (OICCI)...

Updated 28 Jun, 2024 09:16am

Profit, dividend: Foreign investors repatriate record $918m in May

KARACHI: Foreign investors have repatriated the highest-ever $918 million on account of profit and dividend during...

Updated 28 Jun, 2024 08:23am

Various Divisions: NA approves 9 demands for grants worth Rs145.32bn

ISLAMABAD: The National Assembly approved nine demands for grants worth Rs145.32 billion to meet expenditures of the...

Updated 28 Jun, 2024 08:22am

BR’s refresher: your morning briefing for the day

Important updates from June 27, 2024

Published 28 Jun, 2024 08:19am

World

China expels former defence minister from Communist Party

BEIJING: Former Chinese defence minister Li Shangfu has been expelled from the ruling Communist Party for causing...

Updated 28 Jun, 2024 07:36am

BR Research

Oil market: Mid 80s is the new normal

The see-saw in the oil market continues as peak summer season approaches in large demand centers. From the pessimism...

Published 28 Jun, 2024 07:31am

BR Research

Being Basic

Automakers have often quoted lofty estimates for auto volumes in Pakistan, citing population growth and demographics...

Published 28 Jun, 2024 07:29am

BR Research

Interview with Aameer Karachiwalla, CEO – Khushhali Microfinance Bank Limited

‘The MSME sector is Pakistan's economic cornerstone’ Aameer Karachiwalla is the CEO of Khushhali Microfinance Bank...

Published 28 Jun, 2024 07:24am

Editorials

India: two-faced foreign policy

EDITORIAL: Confirming media reports that India has been providing drones and artillery shells to his country in its...

Published 28 Jun, 2024 06:42am

Opinion

Country needs Operation Azm-e-Istehkam

The ghastly attacks of September 11, 2001, on Twin Towers, tragically claimed lives of innocent Americans, who left...

Published 28 Jun, 2024 06:42am

Editorials

A very welcome initiative

EDITORIAL: Education, the building block of socio-economic progress, primarily is a government responsibility. But ...

Published 28 Jun, 2024 06:23am

Editorials

Excessive govt expenditure

EDITORIAL: If there were any doubts about whether the ruling elite realise the seriousness of the economic crisis...

Published 28 Jun, 2024 06:15am

Business & Finance

Alif Investments CEO, who brought some major Pakistani brands to Dubai, believes ‘homework’ is key to success in emirate

DUBAI: For the Pakistani diaspora living in Dubai, places that stoke memories and experiences from back home stand...