News Archives for Latest - 2024-07-19

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Archive - 2024-07-19

World

COP29 hosts urge fossil fuel majors to donate to climate fund

PARIS: Azerbaijan said Friday it hopes to raise money from fossil fuel producers for green projects in developing...

Published 19 Jul, 2024 11:58pm

Pakistan

Protest held in Karachi for recovery of missing Hindu child

Hundreds of civil society and Hindu community members gathered at Teen Talwar monument in Karachi on Friday,...

Updated 19 Jul, 2024 11:46pm

World

Iran capable of producing fissile material in ‘one or two weeks’: Blinken

WASHINGTON: Iran is capable of producing fissile material for use in a nuclear weapon within “one or two weeks,” US...

Published 19 Jul, 2024 11:31pm

Energy

Oil falls $1 a barrel with Gaza ceasefire in sight, easing supply fears

HOUSTON: Oil prices fell on Friday on renewed hopes of a ceasefire in Gaza, while a strong dollar further weighed on...

Updated 19 Jul, 2024 10:49pm

Pakistan

ECP decides to implement Supreme Court’s order in reserved seats case

The Election Commission of Pakistan (ECP) on Friday decided to implement the Supreme Court’s order in the reserved...

Updated 19 Jul, 2024 10:46pm

Markets

Pakistan’s current account posts deficit of $681mn in FY24

This is the lowest deficit in last 13 years
During June, current account balance stands at deficit of $329mn

Updated 19 Jul, 2024 10:44pm

Sports

Women’s T20 Asia Cup: India beat Pakistan by 7 wickets to register first win

Smriti Mandhana and Shafali Verma helped India beat Pakistan by 7 wickets in Match 2 of the Women’s T20 Asia Cup...

Updated 19 Jul, 2024 10:39pm

Pakistan

TLP ends Faizabad sit-in after reaching agreement with govt

Tehreek-e-Labbaik Pakistan (TLP) on Friday ended its days-long sit-in in the Faizabad area of Islamabad after...

Updated 19 Jul, 2024 10:38pm

Stocks

KSE-100 retreats, falls over 2% amid selling pressure

After days of positive momentum, selling pressure returned to the Pakistan Stock Exchange (PSX) as the benchmark...

Updated 19 Jul, 2024 10:36pm

World

Global cyber outage grounds flights, disrupts businesses

A worldwide tech outage crippled industries from travel to finance on Friday before services started coming back...

Updated 19 Jul, 2024 10:24pm

Stocks

Europe’s STOXX 600 logs weekly decline as tech, resources shares weigh

European shares clocked weekly losses as a selloff in technology shares, some downbeat earnings along with falling...

Published 19 Jul, 2024 09:53pm

Stocks

UK stocks end with weekly losses as commodity-linked stocks weigh

London stocks finished the week lower amid a global cyber outage on Friday as investors assessed a fall in domestic...

Published 19 Jul, 2024 09:50pm

South Asia

Attacks on Bangladesh student protesters ‘shocking’: UN

GENEVA: UN human rights chief Volker Turk said Friday he was deeply concerned by this week’s violence in Bangladesh,...

Published 19 Jul, 2024 09:03pm

Exchange

Rupee marginally improves against US dollar

Currency settles at 278.13 against greenback in inter-bank market

Updated 19 Jul, 2024 08:42pm

Business & Economy

Pakistan is looking for external financing avenues: Aurangzeb

ISLAMABAD: Pakistan will focus on meeting its external financing needs by speaking with foreign governments and...

Updated 19 Jul, 2024 08:31pm

Middle East

Top UN court says Israeli settlements in occupied Palestinian territory are illegal

UN Security Council, General Assembly, and all states have obligation not to recognise Israeli occupation as legal and not to give aid or support toward maintaining it, International Court of Justice says

Updated 19 Jul, 2024 08:30pm

Stocks

Wall Street extends rout, CrowdStrike slumps on global tech outage

Wall Street’s main indexes fell on Friday, deepening a sell-off driven by tech stocks and mixed earnings, while...

Published 19 Jul, 2024 08:07pm

Europe

Russian court jails US reporter Gershkovich for 16 years in spying case his employer calls a sham

MOSCOW: A Russian court found U.S. reporter Evan Gershkovich guilty of espionage on Friday and sentenced him to 16...

Published 19 Jul, 2024 07:27pm

Middle East

Israel bombards central Gaza, fighting rages in Rafah

CAIRO/GAZA: Israeli forces bombed parts of central Gaza on Friday, killing at least eight Palestinians in the...

Published 19 Jul, 2024 07:12pm

Stocks

UAE markets close higher on strong corporate earnings

Stock exchanges in United Arab Emirates closed higher, as strong corporate earnings boosted investor sentiments....

Published 19 Jul, 2024 06:26pm

Europe

Zelenskiy: F-16 supplies set to speed up with Polish help

President Volodymyr Zelenskiy said on Friday that Poland had taken a decision that would speed up the deliveries of...

Published 19 Jul, 2024 06:21pm

Europe

Russian attacks kill two in south Ukraine

KYIV: Russian attacks killed two people on the right bank of Ukraine’s southern Kherson region Friday, a day after...

Published 19 Jul, 2024 06:11pm

Energy

Global LNG: Asia spot prices supported by Freeport LNG outage, summer demand

SINGAPORE: Asian spot liquefied natural gas (LNG) prices held steady this week on the back of support from an outage...

Published 19 Jul, 2024 06:00pm

Commodities

Asia Gold: Asian customers cash in on record-breaking bullion rally

Asian physical gold demand was sluggish this week, reflecting customers’ reluctance to make new purchases despite...

Published 19 Jul, 2024 05:54pm

Markets

PIA operations largely unaffected amid global cyber outage: official

Pakistan International Airlines (PIA) operations largely remained unaffected as a global cyber outage forced to...

Updated 19 Jul, 2024 05:34pm

Markets

Pakistan’s DG Khan Cement to establish subsidiary in US

DG Khan Cement, one of Pakistan’s largest cement manufacturers, has announced to establish a wholly-owned subsidiary...

Published 19 Jul, 2024 05:30pm

Exchange

Pakistan’s REER index decreases further to 100.1 in June 2024

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

Published 19 Jul, 2024 05:24pm

Money & Banking

India’s foreign exchange reserves hit record high

MUMBAI: India’s foreign exchange reserves rose for a second straight week and hit a record high of $666.85 billion...

Published 19 Jul, 2024 05:28pm

Stocks

Indian shares slip from record highs amid global cyber outage

BENGALURU: Indian shares came off record highs to end lower on Friday, on broad-based profit booking ahead of the...

Published 19 Jul, 2024 05:23pm

Stocks

Sri Lanka shares end lower as utilities, energy stocks weigh

CSE All Share index settled down 0.35% at 111,727.08

Published 19 Jul, 2024 05:21pm

Commodities

Copper extends downturn to three-month low on China gloom

LONDON: Copper prices fell for a fifth session on Friday to the lowest level in three months on disquiet about a...

Published 19 Jul, 2024 05:15pm

Commodities

Palm oil rises for fourth session, logs weekly gain

KUALA LUMPUR: Malaysian palm oil futures rose for a fourth straight session and booked a weekly gain on Friday,...

Published 19 Jul, 2024 05:13pm

Stocks

INIL’s associate company to invest in Reko Diq project

Chinoy Engineering & Construction (Pvt) Limited (CECL), an associated company of International Industries...

Published 19 Jul, 2024 05:07pm

Business & Economy

Pakistan’s fabric exporter temporarily shuts operations as economic woes bite

Aruj Industries Limited, a Pakistani fabric manufacturer and exporter, has announced to temporarily halt production...

Published 19 Jul, 2024 04:27pm

Middle East

Dubai airport resumes normal operations after global outage hits check-in desks

DUBAI: The operator of Dubai International Airport, one of the world’s busiest airports and hub of Emirates airline,...

Published 19 Jul, 2024 03:29pm

Stocks

China stocks post 7-session winning streak; HK shares fall

SHANGHAI: China stocks ended the week higher with a seven-session winning streak after the four-day key leadership...

Published 19 Jul, 2024 03:25pm

Forex

Yuan set to end week lower despite Third Plenum remarks

SHANGHAI: China’s yuan is set to end the week lower against a strong US dollar as statements from a key leadership...

Published 19 Jul, 2024 03:22pm

Movies & Music

US streaming rivals team up to catch Netflix

NEW YORK: US video streaming companies are joining forces to attract new viewers, boost ad sales, and finally turn a...

Published 19 Jul, 2024 02:43pm

Sports

Alexander Zverev outlasts Gaston to reach Hamburg quarter-finals

HAMBURG: Roared on by Hamburg fans defending champion Alexander Zverev battled through to the quarter-finals...

Published 19 Jul, 2024 02:11pm

Luxury

Golden rule: Why younger investors are drawn to gold

NEW YORK: What asset class do millennials and Gen Z investors both want to own? Here is an answer you may not have...

Published 19 Jul, 2024 02:09pm

Sports

Reilly Opelka powers into Newport ATP semi-finals

NEW YORK: Reilly Opelka hammered 27 aces in a 4-6, 6-3, 6-4 victory over Mackenzie McDonald on Thursday to book a...

Published 19 Jul, 2024 02:05pm

Movies & Music

Actor Bob Newhart, famous for deadpan humor, dies at age 94

LOS ANGELES: Bob Newhart, who fled the tedium of an accounting job to become a master of stammering, deadpan humor...

Published 19 Jul, 2024 02:03pm

Sports

Canada’s Silverman leads PGA Barracuda Championship

LOS ANGELES: Ben Silverman fired 10 birdies with just one bogey to pile up 19 points and take a two-point lead over...

Published 19 Jul, 2024 01:54pm

South Asia

Sri Lanka scraps plan to sell loss-making national airline

COLOMBO: Sri Lanka has scrapped plans to sell off its indebted national airline despite shortlisting three potential...

Published 19 Jul, 2024 01:50pm

Stocks

London stock market hit by technical glitch

LONDON: The London Stock Exchange was hit by a technical glitch Friday that delayed the start of trade and affected...

Published 19 Jul, 2024 01:45pm

Pakistan

Pakistan arrests senior Al-Qaeda leader for sabotage plans

LAHORE: Pakistani counter-terror officials have arrested an Al-Qaeda leader, Amin ul Haq, describing him as a close...

Published 19 Jul, 2024 01:23pm

South Asia

Bangladesh capital bans rallies after government buildings torched

DHAKA: Police in Bangladesh’s capital banned all public rallies on Friday after the deadliest day of ongoing student...

Published 19 Jul, 2024 01:42pm

Europe

Airline KLM says most operations suspended due to IT outage

THE HAGUE: Dutch airline KLM announced on Friday that it was forced to suspend a large part of its operations due to...

Published 19 Jul, 2024 01:30pm

Bullion Rate

Gold price per tola decreases Rs3,000 in Pakistan

After hitting a record high in the previous session, gold prices in Pakistan registered losses on Friday in line...

Published 19 Jul, 2024 01:26pm

South Asia

Bangladesh police say senior opposition leader arrested in Dhaka

DHAKA: Bangladesh police on Friday arrested one of the country’s most senior opposition party leaders in the capital...

Published 19 Jul, 2024 12:32pm

Commodities

Wheat, corn and soybeans head for weekly losses amid ample supply

CANBERRA: Chicago wheat, corn and soybean futures edged lower on Friday, and were headed for weekly losses,...

Published 19 Jul, 2024 12:26pm

Bullion Rate

Gold slips but set for fourth weekly rise on US rate cut prospects

Gold prices slipped on Friday, but were on track for a fourth straight weekly gain as expectations that the Federal...

Published 19 Jul, 2024 12:21pm

Forex

Indian rupee inches up on likely intervention by central bank in NDF market

MUMBAI: The Indian rupee was marginally higher on Friday after the central bank likely intervened in the...

Published 19 Jul, 2024 12:16pm

Asia

Oil tankers on fire off Singapore, crew members rescued

SINGAPORE: Two large oil tankers were on fire in waters near Singapore, the authorities said on Friday, raising...

Updated 19 Jul, 2024 12:12pm

Europe

Injured teenager in Russia’s Belgorod region dies in hospital, governor says

MOSCOW: A 16-year-old teenager wounded in the town of Shebekino in Russia’s Belgorod region on July 11 has died in...

Published 19 Jul, 2024 12:09pm

Stocks

Japan’s Nikkei tracks Wall Street lower; chip shares rebound

TOKYO: Japan’s Nikkei share average fell in choppy trade on Friday, tracking overnight Wall Street declines,...

Published 19 Jul, 2024 12:01pm

Stocks

Australia shares plunge over 1% as strong jobs data stokes rate-hike fears

Australian shares fell more than 1% on Friday due to strengthening bets of an interest rate hike in the central...

Published 19 Jul, 2024 11:56am

Mutual Funds

India bond yields a tad higher before debt supply

MUMBAI: Indian government bond yields were marginally higher on Friday, ahead of a weekly debt auction later in the...

Published 19 Jul, 2024 11:18am

Middle East

Tel Aviv blast was apparent drone attack, military says

TEL AVIV: An apparent drone attack that was claimed by the Iranian-backed Houthi hit central Tel Aviv in the early...

Published 19 Jul, 2024 11:12am

USA

Donald Trump recounts attempt on his life, then abandons unity theme in marathon convention speech

MILWAUKEE/REHOBOTH BEACH: Donald Trump described on Thursday how he narrowly survived an attempt on his life,...

Published 19 Jul, 2024 11:01am

Technology

Microsoft cloud outage causes airlines to ground flights

Microsoft said on Thursday it was investigating issues with its cloud services in the Central US region, which had...

Published 19 Jul, 2024 10:53am

South Asia

US aid vetting failures may have benefited militants in Afghanistan, watchdog finds

WASHINGTON: Two State Department bureaus could not prove compliance with internal policies for vetting aid groups in...

Published 19 Jul, 2024 10:49am

Commodities

Copper falls to lowest in 3 months on absence of China stimulus

Copper prices hit their lowest in more than three months on Friday, with London copper set for the biggest weekly...

Published 19 Jul, 2024 10:46am

Energy

Rising cooling demand to keep coal plants online this year, IEA says

PARIS: Global electricity demand is set to grow at its fastest pace in nearly 20 years this year, spurred by...

Published 19 Jul, 2024 10:36am

Stocks

Asia stocks slump on tech rout contagion, global uncertainty

SINGAPORE: Asian shares are set to end the week on a sour note, as uncertainty across major economies added to...

Published 19 Jul, 2024 10:27am

Input goods for finished items: EFS users required to pay GST on supply: FBR

ISLAMABAD: Manufacturers-cum-exporters (users) of “Export Facilitation Scheme” (EFS) would now be required to pay...

Updated 19 Jul, 2024 10:16am

Stocks

Indian shares ease off record highs as profit booking outweighs Infosys’ gains

BENGALURU: Indian shares eased off record highs hit at the open on Friday as broad-based profit booking outweighed...

Published 19 Jul, 2024 10:13am

Forex

Dollar set to eke out weekly gain as traders weigh US rates, yen wobbles

SINGAPORE: The dollar was steady and poised to snap a two-week losing run on Friday as US labour and manufacturing...

Published 19 Jul, 2024 10:09am

Interest payments to devour 62pc of revenues: ADB

Forecasts public debt to decline by 7 percentage points to 70 percent of GDP in 2024–2025

Updated 19 Jul, 2024 10:02am

Govt to borrow Rs3.97trn in Q1 FY24

KARACHI: The federal government has planned to borrow Rs 3.97 trillion from the domestic banking sector during the...

Updated 19 Jul, 2024 09:33am

Buyback rate of net metering likely at average energy cost

ISLAMABAD: The government is likely to fix the buyback rate of net metering at average energy cost aimed at...

Updated 19 Jul, 2024 09:32am

NA panel told: Rs40bn gas stolen from SNGPL’s, SSGC’s systems

ISLAMABAD: A parliamentary panel on Thursday was apprised that an estimated Rs 40 billion worth of gas is stolen...

Updated 19 Jul, 2024 09:31am

Mobile phones localisation, export: PMPMA team takes up incentives, other issues with Aurangzeb

KARACHI/ISLAMABAD: Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb held a meeting with a...

Updated 19 Jul, 2024 09:30am

Recurrent budget: MoF unveils strategy for release of funds

ISLAMABAD: The Ministry of Finance has issued a strategy for the release of funds for the recurrent budget of the...

Updated 19 Jul, 2024 08:54am

Pakistan

PBC demands setting up of a ‘constitutional court’

ISLAMABAD: The Pakistan Bar Council (PBC) demanded of the federal government to establish constitutional court by...

Updated 19 Jul, 2024 08:52am

Implementation of SC verdict: ECP fails to chart its course of action

ISLAMABAD: The Election Commission of Pakistan (ECP), Thursday, failed to map out its course of action on the...

Updated 19 Jul, 2024 08:50am

SNGPL seeks PD’s help to deal with surplus RLNG

ISLAMABAD: The Sui Northern Gas Pipeline Limited (SNGPL) has sought intervention from Director General (Gas)...

Updated 19 Jul, 2024 08:49am

Baqar too turns down ad hoc SC judge appointment

ISLAMABAD: Former judge of the Supreme Court Justice Maqbool Baqar also declined to be appointed as the ad hoc...

Updated 19 Jul, 2024 08:48am

BR’s refresher: your morning briefing for the day

Important updates July 18, 2024

Published 19 Jul, 2024 08:45am

BR Research

All-time high fertilizer spending

Close to a trillion rupees were spent by farmers on the application of two key fertilizers – urea and DAP in FY24....

Published 19 Jul, 2024 08:25am

BR Research

Remittances in FY24

Remittances to Pakistan grew by 10.7 percent year-on-year in FY24 to $30.3 billion. The annual tally is the second...

Published 19 Jul, 2024 08:22am

BR Research

Metropolitan Steel Corporation Limited

Metropolitan Steel Corporation Limited (PSX: MSCL) was incorporated in Pakistan as a public limited company in 1955....

Published 19 Jul, 2024 08:02am

Letters

‘The King of the World is not safe in his fortress’

This is apropos a letter ‘The King of the World is not safe in his fortress’ to the Editor by this writer ...

Updated 19 Jul, 2024 07:31am

Asia

China’s leaders vow to fight ‘risks’ plaguing economy

BEIJING: Beijing’s leaders vowed Thursday to resolve “risks” plaguing China’s economy, but were yet to offer...

Updated 19 Jul, 2024 07:27am

Opinion

We must accelerate transformative action against climate change, poverty, and hunger

The Asia-Pacific region is faltering on decades of progress in reducing poverty and hunger. Increasingly, severe...

Updated 19 Jul, 2024 07:13am

Opinion

IMF programme, debt re-profiling, and debt restructuring

Pakistan is facing a huge challenge in terms of debt distress. Secondly, the country is stuck in a low economic...

Updated 19 Jul, 2024 07:06am

Opinion

Old wine in new bottles

The incumbent government, as all earlier ones, is jubilant over securing a staff-level agreement with International...

Updated 19 Jul, 2024 07:04am

Europe

UK’s Starmer pledges European reset at summit

WOODSTOCK (United Kingdom): UK Prime Minister Keir Starmer on Thursday vowed to rebuild trust with European allies...