News Archives for Latest - 2024-08-05

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Archive - 2024-08-05

USA

US urged countries to pass messages to Iran against escalation, State Dept says

WASHINGTON: The United States has been urging countries through its diplomatic engagements to tell Iran that...

Published 05 Aug, 2024 11:48pm

Stocks

Global rout: Pakistan’s local participation component is likely to help avert wider selloff

Fear of the US falling into recession after weak economic data last week triggered panic across global markets with...

Updated 05 Aug, 2024 10:49pm

World

UN says nine employees ‘may have been involved’ in Oct 7 Hamas attack

UNITED NATIONS: The United Nations said Monday that nine employees of its agency for Palestinian refugees (UNRWA)...

Published 05 Aug, 2024 10:48pm

South Asia

Sheikh Hasina flees Bangladesh, ‘heading to London’ as military takes over

Bangladesh army chief General Waker-Us-Zaman confirms Hasina has resigned
Television visuals show thousands of people pouring into the streets of the capital Dhaka in jubilation and shouting slogans

Updated 05 Aug, 2024 10:23pm

Business & Finance

China property giant Evergrande seeks to recover $6 bn

BEIJING: China's heavily indebted real estate giant Evergrande said Monday that it and its liquidators were seeking...

Published 05 Aug, 2024 10:13pm

South Asia

Bangladesh president orders release of jailed ex-PM Khaleda Zia

Zia, 78, is in poor health and confined to hospital after she was sentenced to 17 years in prison for graft in 2018

Published 05 Aug, 2024 09:36pm

Pakistan

Baloch Yakjehti Committee is a proxy of terrorist organisations, DG ISPR says

Director General Inter-Services Public Relations (DG ISPR) Lieutenant General Ahmed Sharif Chaudhry on Monday said...

Updated 05 Aug, 2024 09:27pm

Sports

PCB introduces three Champions events in 2024-25 domestic season

Pakistan Cricket Board (PCB) on Monday announced three Champions events as part of the 2024-25 domestic season to...

Published 05 Aug, 2024 09:17pm

Stocks

Wall Street plunges as US recession fears hurt risk appetite

Wall Street’s main indexes slumped on Monday as risk appetite among investors dropped on fears of a U.S. recession...

Updated 05 Aug, 2024 09:15pm

Sports

Sri Lanka to tour England for three Tests

COLOMBO: Sri Lanka will tour England in August and September for a three-match Test series, the cricket board...

Published 05 Aug, 2024 09:04pm

Europe

378 arrests made since UK riots began: police

LONDON: UK police have arrested 378 people since rioting in English towns and cities began after a deadly knife...

Published 05 Aug, 2024 09:01pm

Energy

Oil drops as US recession fears spark broader selloff

HOUSTON: Oil fell on Monday, trailing a stock market selloff sparked by fears of a U.S. recession, though declines...

Updated 05 Aug, 2024 08:34pm

Sports

Brazil’s Andrade beats Biles to Olympic floor gold

PARIS: Brazil’s Rebeca Andrade beat Simone Biles to floor gold on the final day of the Olympic gymnastics...

Published 05 Aug, 2024 07:39pm

Stocks

Selling pressure at PSX, KSE-100 loses 1,141 points

Selling pressure was witnessed at the Pakistan Stock Exchange (PSX) as the benchmark KSE-100 Index lost 1,141 points...

Updated 05 Aug, 2024 07:19pm

Forex

Rupee sees marginal decline against US dollar

Currency settles at 278.63 in inter-bank market

Updated 05 Aug, 2024 06:44pm

Business & Economy

US firm presents Aurangzeb proposal to streamline regulatory system in Pakistan

Federal Minister for Finance and Revenue Muhammad Aurangzeb held a meeting with Scott Jacobs, the Managing Director...

Updated 05 Aug, 2024 06:34pm

Travel

Ronaldo, Nadal’s second restaurant opens in Dubai

Toto will also be housed in Hotel Boulevard in downtown Dubai

Published 05 Aug, 2024 06:32pm

Sports

Japan’s Oka wins third gold at Paris Olympics on horizontal bar

PARIS: Shinnosuke Oka’s fairytale debut Olympics got even better on Monday as the Japanese gymnast added horizontal...

Published 05 Aug, 2024 06:31pm

Perspectives

TLP protest illustrates the complex web of politics in Pakistan

Tehreek-i-Labbaik Pakistan (TLP)’s recent protest in solidarity with the Palestinian people calling on the...

Published 05 Aug, 2024 06:12pm

Commodities

Wheat, corn, soybeans fall as global markets slump

HAMBURG: Chicago wheat, corn and soybeans fell on Monday, weakened by a sudden slump in global financial markets....

Published 05 Aug, 2024 05:48pm

Sports

Boxers in gender dispute will remain in Paris Games competitions, IOC says

PARIS: The two female boxers at the heart of a gender dispute at the Paris Olympics will stay in the competition for...

Published 05 Aug, 2024 05:29pm

Commodities

Gold falls over 2% in volatile market but retains safe-haven appeal

Gold prices fell more than 2% in volatile trading on Monday as investors liquidated positions in tandem with a...

Published 05 Aug, 2024 05:25pm

Life & Style

‘The Parents Network’: Prince Harry, Meghan Markle launch resource for trauma, suicide

Meghan Markle recalled her trauma and suicidal thoughts she experienced while living in London with the royal...

Published 05 Aug, 2024 05:09pm

South Asia

After 15 years in power, Sheikh Hasina falls as Bangladesh look to start new chapter

DHAKA: Sheikh Hasina once helped rescue Bangladesh from military rule but her long rule came to a sudden end on...

Published 05 Aug, 2024 04:40pm

Stocks

Indian shares log worst day in two months on US recession fears

BENGALURU: Indian shares tumbled more than 2.5% on Monday, in their steepest drop in two months amid a global...

Updated 05 Aug, 2024 04:02pm

Pakistan

Youm-e-Istehsal: President Zardari, PM Shehbaz urge world to ensure justice in IIOJK

President Asif Ali Zardari and Prime Minister Shehbaz Sharif urged on Monday the international community to ensure...

Updated 05 Aug, 2024 03:50pm

South Asia

Iran says it does not want regional escalation but must ‘punish’ Israel

DUBAI: Iran is not looking to escalate regional tensions but believes it needs to punish Israel to prevent further...

Updated 05 Aug, 2024 03:49pm

South Asia

Who is the Bangladesh army chief who announced Hasina’s resignation?

Just over a month after he became Bangladesh’s army chief, General Waker-Us-Zaman has been thrust into the...

Published 05 Aug, 2024 03:39pm

Pakistan

Karachi police issues precautionary measures as light rain disrupts flow of traffic

Karachi Traffic Police cautioned drivers and motorcyclists on Monday to reduce their speed as light drizzle left...

Updated 05 Aug, 2024 03:34pm

PM for accelerating FBR transformation

LAHORE: Prime Minister Shehbaz Sharif Sunday set a target for his economic team to speed up the process of...

Updated 05 Aug, 2024 03:33pm

Markets

Indus Motor again temporarily shuts production citing low inventory

Indus Motor Company Limited (IMC), the assembler/manufacturer of Toyota-brand vehicles in Pakistan, again said it...

Published 05 Aug, 2024 03:32pm

Forex

Indian rupee ends at record low as US growth worries spill over, spur outflows

MUMBAI: The Indian rupee closed at its weakest level on record on Monday pressured by likely outflows from local...

Updated 05 Aug, 2024 03:29pm

Europe

Ukraine receives $3.9bn grant from US, prime minister says

KYIV: Ukraine has received a $3.9 billion grant from the United States via the World Bank, Ukrainian Prime Minister...

Published 05 Aug, 2024 02:45pm

Bullion Rate

Gold price per tola decreases Rs300 in Pakistan

Gold prices in Pakistan continued to decline on Monday, in line with a decrease in international rates. In the local...

Published 05 Aug, 2024 01:47pm

Movies & Music

Shah Rukh Khan to be honoured at Locarno Film Festival

GENEVA: Switzerland’s Locarno Film Festival opens on Wednesday with Shah Rukh Khan, Jane Campion, Alfonso Cuaron and...

Updated 05 Aug, 2024 01:39pm

Stocks

European stocks hit near six-month low on US recession fears

European shares tumbled to a near six-month low at the start of the week amid a global sell-off in equities on fears...

Published 05 Aug, 2024 01:25pm

Forex

South African rand, stocks sink as US recession fears hit riskier assets

JOHANNESBURG: South African stocks and the rand sank in early trade on Monday as global investor sentiment soured...

Published 05 Aug, 2024 01:21pm

Stocks

London’s FTSE 100 drops as U.S. recession fears spark global sell-off

London’s FTSE 100 plunged over 1.5% on Monday to hit their lowest in over three months, as recession fears in the...

Published 05 Aug, 2024 01:19pm

Forex

Kenyan shilling strengthens with expected gains from tea sector FX inflows

NAIROBI: Kenya’s shilling firmed slightly in early trade on Monday and it was expected to strengthen further,...

Published 05 Aug, 2024 01:16pm

Stocks

Gulf markets slide on US recession fears, regional tensions

Major stock markets in the Gulf tumbled on Monday, tracking Asian shares lower on fears that the United States could...

Published 05 Aug, 2024 01:13pm

Cricket

Former England cricketer and coach Thorpe dies aged 55

Former England cricketer and coach Graham Thorpe has died at the age of 55, the England and Wales Cricket Board...

Published 05 Aug, 2024 01:10pm

Middle East

Lebanon says two dead in Israeli strike

BEIRUT: Lebanon’s health ministry said two people were killed Monday in an Israeli strike on the country’s south,...

Published 05 Aug, 2024 01:00pm

Commodities

Palm oil declines as weaker crude oil, firmer ringgit weighs

KUALA LUMPUR: Malaysian palm oil futures fell on Monday, as weaker crude oil prices and a stronger ringgit weighed...

Published 05 Aug, 2024 12:20pm

Senate body seeks copies of IPP agreements

Senator Mohsin Aziz says power sector has become a matter of national security and emergency

Updated 05 Aug, 2024 12:19pm

Stocks

Australia shares slump more than 3% as US recession worries trigger sell-off

Australian shares slumped more than 3% in their worst trading session in over two years on Monday, joining a global...

Updated 05 Aug, 2024 12:14pm

Stocks

Taiwan stocks fall by record 8.4% on tech sector fears, exchange to brief media

TAIPEI: Taiwan stocks ended down 8.4% on Monday, a record slump, with tech stocks including TSMC plunging as...

Published 05 Aug, 2024 12:11pm

South Asia

Bangladesh protesters call for march to Dhaka in defiance of curfew

DHAKA: Protesting students in Bangladesh have called for a march to the capital Dhaka on Monday in defiance of a...

Published 05 Aug, 2024 12:05pm

Money & Banking

Societe Generale to sell two units to Swiss bank UBP for 900mn euros

PARIS: French banking giant Societe Generale said Monday it was selling two subsidiaries – one in Britain and the...

Published 05 Aug, 2024 11:43am

Stocks

Asian stocks tank after US data fans recession fears

HONG KONG: Tokyo led a collapse across Asian equities Monday, while the yen hit a six-month high after weak US jobs...

Published 05 Aug, 2024 11:40am

Stocks

Tokyo’s Nikkei dives 12.4%, suffers record points loss

TOKYO: Tokyo stocks sank more than 12 percent Monday, battered by a resurgent yen and weak US jobs data that fuelled...

Updated 05 Aug, 2024 11:37am

Commodities

Japan rubber futures hit over one-week high on weather concerns

SINGAPORE: Japanese rubber futures hit a more than one-week high on Monday, buoyed by adverse weather woes in top...

Published 05 Aug, 2024 11:31am

South Asia

North Korea’s Kim oversees delivery of new tactical ballistic missile launchers

SEOUL: North Korean leader Kim Jong Un oversaw the delivery of 250 new tactical ballistic missile launchers to...

Published 05 Aug, 2024 11:26am

Forex

Bitcoin, ether sink to multi-month lows as recession worries take hold

Bitcoin and ether tumbled on Monday to multi-month lows as worries over a possible U.S. recession in the wake of...

Published 05 Aug, 2024 11:22am

Pakistan

NDMA rings alarm bells over urban flooding risk in Karachi

ISLAMABAD: The National Disaster Management Authority (NDMA)’s National Emergencies Operation Centre anticipated...

Updated 05 Aug, 2024 11:17am

Forex

Australia, NZ dollars struggle amid flight to safety; bonds rally

SYDNEY: The Australian and New Zealand dollars started the week on the back foot after weak U.S. jobs data magnified...

Published 05 Aug, 2024 11:17am

Commodities

Iron ore hits two-week high on improved Chinese economic outlook

SINGAPORE: Iron ore futures prices hit a two-week high on Monday, buoyed by an improved Chinese economic outlook...

Published 05 Aug, 2024 11:09am

Forex

China’s yuan leaps to 7-month high, led by stronger yen, unwinding of carry trade

SHANGHAI: China’s yuan leapt to a seven-month high against the dollar on Monday, boosted by a stronger Japanese yen...

Published 05 Aug, 2024 11:06am

Financial

JGB yields sink on US recession fears, BOJ rate path questions

TOKYO: Japanese government bond (JGB) yields sank on Monday, following a decline in U.S. yields amid concerns of a...

Published 05 Aug, 2024 11:01am

Commodities

London copper climbs on China data, Fed rate-cut prospects

BEIJING: Prices of copper and other metals in London kicked off the week higher on Monday, following data showing...

Published 05 Aug, 2024 10:57am

Commodities

Gold prices flat as profit-taking counters US rate outlook

Prices of safe-haven gold were flat on Monday as some profit-taking partially offset support from U.S. recession...

Published 05 Aug, 2024 10:44am

E-compliance for real-time integration: Taxpayers including those in 14 business categories will have to pay heavy cost

ISLAMABAD: Taxpayers including those in 14 categories of business enterprises would have to pay heavy cost for...

Updated 05 Aug, 2024 10:37am

Stocks

China stocks buck global sell-off as services activity rises; Hong Kong slips

SHANGHAI: China stocks edged up on Monday after data showed growth in the country’s services activity accelerated in...

Published 05 Aug, 2024 10:33am

Companies

Journey from Hyderabad to Dubai: Badami’s auto parts company is now a global player

KARACHI: Born in Hyderabad, Sindh, Asad Badami is now the Managing Director of Al-Mukarram Auto Parts (A-MAP), a...

Updated 05 Aug, 2024 10:29am

Forex

Yen rises to 7-month highs as US slowdown fears spill over

SINGAPORE: Japan’s yen hit its highest levels against the dollar since January on Monday, as marketsextended moves...

Published 05 Aug, 2024 10:22am

Stocks

South Korean shares trigger trading curb for first time since 2020 amid tech rout

SEOUL: South Korean shares fell for a second straight session on Monday, with trading curbs activated for the first...

Published 05 Aug, 2024 10:28am

Discos slammed for issuing inflated bills

LAHORE: The Federation of Pakistan Chambers of Commerce & Industry’s (FPCCI) Businessmen Panel (BMP) has slammed...

Updated 05 Aug, 2024 09:20am

BR Research

Reinvigorating investor confidence

The new fiscal year has started with a focus on economic stability and improvement, which is an encouraging sign....

Published 05 Aug, 2024 09:12am

BR Research

Interview with Nisha Mandani, Founder and President – Our Aim Foundation

‘Our mission is to reach out to people wherever the need arises’ Nisha Mandani co-founded Our Aim Foundation in 2008...

Published 05 Aug, 2024 09:03am

2nd phase of CPEC: PM says fast-paced work in progress

LAHORE: Prime Minister Shehbaz Sharif Sunday said that work was progressing fast on the second phase of...

Updated 05 Aug, 2024 09:08am

10-member task force on FBR digitalisation formed

ISLAMABAD: The Prime Minister has constituted a 10-member Task Force on digitalization of Federal Board of Revenue...

Updated 05 Aug, 2024 09:07am

ATIR rules: ‘Islamabad taxmen conducted proceedings in unprofessional way’

ISLAMABAD: Appellate Tribunal Inland Revenue (ATIR) has held that Islamabad tax officers have conducted tax...

Updated 05 Aug, 2024 09:06am

Continuous supply of 150MMCFD RLNG to KE: SNGPL urges PPL to explore possibility

ISLAMABAD: The Sui Northern Gas Pipeline Company (SNGPL) has warned that less retention of Re-gasified Liquefied...

Updated 05 Aug, 2024 09:04am

Pakistan

Balochistan could be hit by high- to very high-level flash floods

ISLAMABAD: The National Disaster Management Authority’s (NDMA) National Emergencies Operation Centre anticipated on...

Updated 05 Aug, 2024 08:51am

Pakistan

Reserved seats: 2 judges raise important points in dissenting notes: Tarar

LAHORE: Federal Minister for Information and Broadcasting Attaullah Tarar said that two honourable judges of the...

Updated 05 Aug, 2024 08:43am

Opinion

Economy: durable solutions remain elusive

The FY25 budget presents challenges for everyone, with few economic actors benefiting. Despite compromises due to...

Updated 05 Aug, 2024 08:41am

President for resolution of IPP issue thru consensus

FAISALABAD: IPPs is a ticklish issue which needs to be resolved by evolving consensus among all stakeholders, said...

Updated 05 Aug, 2024 08:38am

BR’s refresher: your morning briefing for the day

Important updates from August 3 and August 4, 2024

Published 05 Aug, 2024 08:38am

Opinion

All is not quite well!

A reality check shows a yawning gap between the relatively small audience (external more than internal as the ...

Updated 05 Aug, 2024 08:36am

Editorials

Prices of POL products

EDITORIAL: The federal government has slashed petrol price by 6.17 rupees per litre, high speed diesel’s by 10.86...

Updated 05 Aug, 2024 08:33am

Pakistan

The Weather

KARACHI: The weather report on Sunday (August 03, 2024) and the forecast for Monday (August 05, 2024)....

Published 05 Aug, 2024 08:30am

Pakistan

Poor performance in polio campaigns: Stern warning issued to district health admin

LAHORE Punjab Emergency Operations Centre Coordinator and head of the polio programme in Punjab Khizer Afzaal has...

Updated 05 Aug, 2024 08:28am

Industry

Permanent employment termed workers’ fundamental right

KARACHI: At the conclusion of a three-day protest camp held at Karachi Press Club against the contractual system,...

Published 05 Aug, 2024 08:26am

Pakistan

Tax refunds to large taxpayer companies: FIA issues another notice to Member IR (Operation)

ISLAMABAD: Federal Investigation Agency (FIA) has issued another notice to Mir Badshah Khan Wazir Member Inland...

Published 05 Aug, 2024 08:24am

Pakistan

Visiting Chinese experts, CM KPK meet at Rashakai SEZ, discuss security

PESHAWAR: KP Chief Minister Sardar Ali Amin Khan Gandapur assured a Chinese delegation that the provincial ...

Published 05 Aug, 2024 08:22am

Pakistan

Armed forces pay tribute to valiant personnel of police

RAWALPINDI: On the occasion of Youm-e-Shuhada Police, the armed forces pay solemn tribute to the valiant personnel ...

Published 05 Aug, 2024 08:21am

Pakistan

Youm-e-Istehsal today

ISLAMABAD: The government announced on Sunday that Youm-e-Istehsal (Exploitation Day) would be observed today...

Published 05 Aug, 2024 08:20am

Middle East

Houthis claim attack on shipping lanes

CAIRO: Yemen’s Iran-aligned Houthi movement said on Sunday that it targeted a Liberia-flagged container vessel in...

Updated 05 Aug, 2024 08:17am

Middle East

Travellers rush to leave Lebanon amid spiking tensions, cancelled flights

BEIRUT: Travellers waited in long lines at Beirut airport on Sunday, some after cutting summer holidays short, as...

Updated 05 Aug, 2024 08:14am

Europe

Anti-immigration unrest hits parts of Britain

LONDON: Anti-immigration protesters broke hotel windows and set bins on fire in northern England on Sunday in the...

Updated 05 Aug, 2024 08:10am

Europe

Dozens arrested after UK protests turn violent

LONDON: Police arrested dozens of people after protests across parts of England and Northern Ireland turned violent...

Updated 05 Aug, 2024 08:03am

Business & Finance

China issues plan to boost household consumption

BEIJING: China has issued a set of directives aimed at boosting household consumption, a weakness weighing on growth...

Updated 05 Aug, 2024 08:01am

Business & Finance

Sri Lanka needs to raise fiscal revenue to maintain stability: IMF

COLOMBO: Sri Lanka must make further efforts to raise fiscal revenue if it is to maintain economic stability and...

Published 05 Aug, 2024 07:59am

Middle East

Gaza civil defence says Israel strike on schools kills 30

GAZA STRIP: Gaza’s civil defence agency said an Israeli strike hit two schools in Gaza City on Sunday, killing at...

Published 05 Aug, 2024 07:51am

World

Macron, Jordan king urge avoiding ME escalation ‘at all costs’

PARIS: France’s Emmanuel Macron and Jordan’s King Abdullah II on Sunday said a military escalation in the Middle...

Updated 05 Aug, 2024 07:45am

World

Philippines, Germany agree to broaden defence agreement

MANILA: The Philippines and Germany have agreed to deepen military cooperation, their defence ministers said on...

Updated 05 Aug, 2024 07:40am

Europe

Ukraine finally deploying F-16 fighter jets, says Zelenskiy

KYIV: Ukrainian pilots have started flying F-16s for operations within the nation, President Volodymyr Zelenskiy ...

Updated 05 Aug, 2024 07:36am

Companies

Byju avoids bankruptcy

MUMBAI: An Indian appeals tribunal stopped bankruptcy proceedings against troubled educational technology firm Byju...

Updated 05 Aug, 2024 07:34am

Business & Finance

German economy unexpectedly shrinks in second quarter

FRANKFURT: The German economy unexpectedly shrank in the second quarter, preliminary data showed Tuesday, falling...

Updated 05 Aug, 2024 07:32am

Opinion

Power sector challenges beyond capacity payments

While the capacity payments to Independent Power Producers (IPPs) have grabbed major spot light these days, our...

Published 05 Aug, 2024 07:21am

Business & Finance

GPCCI, BVMW sign MoU to enhance business ties

PESHAWAR: The German Pakistan Chamber of Commerce and Industry (GPCCI) and the German Association of Small and ...

Published 05 Aug, 2024 07:15am

Pakistan

ICCI delegation visits IMCB campus

ISLAMABAD: Director Colleges Federal Directorate of Education (FDE) and Principal Islamabad Model College for Boys...

Published 05 Aug, 2024 07:14am

Pakistan

DC, Mayor Hyderabad visit pumping stations

HYDERABAD: Deputy Commissioner Hyderabad Zain-ul-Abedin Memon and Mayor Hyderabad Kashif Shoro conducted a joint...

Updated 05 Aug, 2024 07:13am

Pakistan

Climate change impacting aquaculture production activities: expert

PESHAWAR: The rising global temperature and weather pattern due to climate change is impacting the aquaculture...

Published 05 Aug, 2024 07:04am

Pakistan

Bilawal seeks report on breach in Rohri Canal

KARACHI: Chairman of Pakistan People’s Party (PPP) Bilawal Bhutto Zardari on Sunday has taken notice of the breach...

Published 05 Aug, 2024 07:03am

Letters

‘Modi’s misplaced bravado and jingoism’

This is apropos a Business Recorder editorial “Modi’s misplaced bravado and jingoism” carried by the ...

Published 05 Aug, 2024 07:00am

Editorials

Simply unrealistic

EDITORIAL: It seems everybody but the government understands that this fiscal year’s tax regime is not only...

Updated 05 Aug, 2024 06:58am

Rates

Automart: car prices in Karachi

Rates in the week ended Sunday August 03, 2024

Updated 05 Aug, 2024 06:51am

Pakistan

Death of Syeda Sania Zahra: PWPA makes significant progress in investigation

LAHORE: Punjab Women Protection Authority (PWPA) has made significant progress in the investigation of the tragic...

Updated 05 Aug, 2024 06:43am

Pakistan

Tickets for Karachi Zoo, Safari Park can be purchased online: mayor

KARACHI: Mayor Karachi Barrister Murtaza Wahab has said that all departments of Karachi Metropolitan Corporation...