News Archives for Latest - 2024-09-13

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Archive - 2024-09-13

Markets

India’s foreign exchange reserves hit fresh high of $689.24bn

MUMBAI: India’s foreign exchange reserves extended their winning run for a fourth straight week to hit a record high...

Updated 13 Sep, 2024 11:39pm

Forex

KSE-100 sees relatively muted reaction to IMF board meeting update, SBP’s rate cut

After initial buying burst, benchmark index slowly retreats to settle 0.4% higher despite positive news flow

Updated 13 Sep, 2024 11:38pm

Pakistan

COAS reiterates resolve to comprehensively defeat hostile terrorist nexus: ISPR

Army chief vows all-out support to KP police and other LEAs

Updated 13 Sep, 2024 11:38pm

World

UNRWA says staffer killed in Israeli West Bank raid

JERUSALEM: The UN agency for Palestinian refugees said Friday one of its employees was killed this week during an...

Published 13 Sep, 2024 11:29pm

Markets

Bank holiday: SBP to remain closed on Tuesday, September 17

The State Bank of Pakistan (SBP) on Friday said it will remain closed on Tuesday, September 17, 2024, in observance...

Updated 13 Sep, 2024 11:17pm

Europe

Russian UN envoy redoubles warning on new missiles for Kyiv

UNITED NATIONS: Russia’s UN ambassador issued a stern warning Friday to Western powers thinking of allowing Kyiv to...

Published 13 Sep, 2024 11:17pm

Markets

ADB approves $320mn for Khyber Pakhtunkhwa road rehabilitation

The Asian Development Bank (ADB) on Friday approved a $320-million loan to support the rehabilitation of roads in...

Updated 13 Sep, 2024 10:46pm

Pakistan

Sessions court rejects Karsaz accident driver’s bail plea in drug case

A sessions court in Karachi rejected on Friday the post-arrest bail application of Natasha Danish, the driver booked...

Updated 13 Sep, 2024 10:45pm

Stocks

Rupee strengthens against US dollar

Currency settles at 278.16 against the greenback in inter-bank market

Updated 13 Sep, 2024 10:44pm

Technology

Pakistan’s inclusion in top tiers of Global Cybersecurity Index good news for IT industry: minister

State Minister for Information Technology and Telecommunication, Shaza Fatima Khawaja said on Friday that Pakistan’s...

Published 13 Sep, 2024 10:27pm

Energy

Oil prices rise as US production slowly resumes after hurricane

Brent crude futures were up $1.16 cents, or 1.6%, at $73.13 a barrel

Updated 13 Sep, 2024 08:28pm

Stocks

Wall Street gains as traders raise bets on bigger Fed rate cut

Wall Street’s main indexes rose on Friday as investors reevaluated the possibility of a bigger interest rate cut by...

Published 13 Sep, 2024 08:26pm

Commodities

Gold prices in Pakistan hit record high of Rs265,900 per tola

After declining in the previous session, gold prices in Pakistan jumped on Friday in line with their increase in the...

Updated 13 Sep, 2024 08:10pm

Stocks

UAE stocks gain on Fed rate cut hopes

The equity markets in the United Arab Emirates (UAE) rose on Friday, driven primarily by an increase in financial...

Published 13 Sep, 2024 06:51pm

Stocks

Sri Lanka shares end higher as communication services gain; Q2 GDP grows

CSE All-Share index settled 1.10% up at 10,683.10

Published 13 Sep, 2024 06:47pm

Middle East

European, Muslim countries meet in Spain eyeing schedule for Palestinian statehood

MADRID: Spain, hosting a high-level meeting on Friday of several Muslim and European countries on ways to end the...

Published 13 Sep, 2024 06:42pm

Energy

Global LNG: Asian spot LNG prices down on muted demand

LONDON: Asian spot liquefied natural gas (LNG) prices fell this week amid limited demand for November deliveries and...

Published 13 Sep, 2024 06:15pm

South Asia

Typhoon Yagi death toll rises to 254 in Vietnam

HANOI: The death toll in Vietnam from typhoon Yagi and the landslides and flash floods it triggered rose to 254 on...

Published 13 Sep, 2024 06:09pm

Europe

Zelensky announces 49 Ukrainian POWs returned to Kyiv

UKRAINE-BELARUS BORDER: Ukrainian President Volodymyr Zelensky announced Friday that 49 Ukrainian POWs had been...

Published 13 Sep, 2024 06:00pm

South Asia

Sri Lanka economy posts 4.7% growth in Q2

COLOMBO: Sri Lanka’s economy grew 4.7% year-on-year from April to June this year, official data showed on Friday, as...

Published 13 Sep, 2024 05:40pm

South Asia

China signs finance cooperation agreement with debt distressed Maldives

BEIJING: China’s central bank on Friday said it had signed an agreement with the Maldivian authorities to strengthen...

Published 13 Sep, 2024 05:32pm

Stocks

Indian shares pause near lifetime highs, log weekly gains ahead of likely Fed rate cut

BENGALURU: Indian shares ended flat on Friday, after hitting all-time highs in the previous session, and logged...

Published 13 Sep, 2024 05:12pm

Commodities

Copper hits two-week high on weak dollar and China stimulus hopes

LONDON: Copper prices hit a two-week high on Friday and were on track for the strongest week in a month on a weaker...

Published 13 Sep, 2024 05:10pm

Commodities

Palm drops on demand concerns, falls 2.2% this week

MUMBAI: Malaysian palm oil futures extended losses to a second session on Friday, hitting a three-week low, on a...

Published 13 Sep, 2024 05:07pm

Movies & Music

‘Shogun’ leads Emmys drama race, ‘The Bear’ seeks comedy repeat

LOS ANGELES: Which series will succeed three-time winner ‘Succession’ as television’s best drama? Emmy voters will...

Published 13 Sep, 2024 03:12pm

Stocks

European shares climb with focus on US central bank policy decision

European stocks advanced on Friday and were poised for weekly gains, supported by miners, while investors shifted...

Published 13 Sep, 2024 03:12pm

Business & Finance

IMF staff in Kenya for fact-finding mission after protests

NAIROBI: A team of staff from the International Monetary Fund is visiting Kenya on a fact-finding trip, the IMF said...

Published 13 Sep, 2024 03:10pm

Forex

Russian rouble weakens before central bank rate decision

MOSCOW: The Russian rouble weakened against both the US dollar and the Chinese yuan ahead of the central bank’s...

Published 13 Sep, 2024 03:08pm

Arts

Stolen Banksy ‘Girl with Balloon’ painting found

LONDON: One of British street artist Banksy’s best-known paintings, ‘Girl with Balloon’, has been found after its...

Published 13 Sep, 2024 02:46pm

Stocks

Mining stocks push export-heavy FTSE 100 higher, strong pound keeps gains in check

Mining stocks lifted London’s blue-chip index on Friday as investors raised their bets of a hefty US interest rate...

Published 13 Sep, 2024 02:27pm

Europe

Russia’s Sergei Shoigu meets North Korea’s Kim in Pyongyang

MOSCOW: Top Russian security official Sergei Shoigu held talks with North Korean leader Kim Jong Un during a visit...

Published 13 Sep, 2024 02:25pm

Technology

Ericsson forms company with 12 telcos to sell network software

STOCKHOLM: Ericsson said on Thursday it had created a joint venture to sell software with a dozen telecom operators,...

Published 13 Sep, 2024 02:23pm

Europe

Ukraine says Russian drone barrage injures one, damages infrastructure

KYIV: Ukraine’s air force said on Friday it had shot down 24 of 26 drones launched from Russia overnight over four...

Published 13 Sep, 2024 01:51pm

Business & Finance

Top ECB governors voice confidence on inflation and rates

BUDAPEST/FRANKFURT: The European Central Bank’s two biggest shareholders expressed confidence on Friday about the...

Published 13 Sep, 2024 01:49pm

Forex

South African rand flat; markets focus on Fed rate cut next week

JOHANNESBURG: The South African rand was little changed in early trade on Friday, as markets weighed up bets on the...

Published 13 Sep, 2024 01:47pm

Middle East

Hamas chief Sinwar thanks Hezbollah in letter to Nasrallah

BEIRUT: Hamas chief Yehya Sinwar thanked the leader of Lebanon’s Hezbollah Sayyed Hassan Nasrallah for his group’s...

Published 13 Sep, 2024 01:44pm

Middle East

Lebanon health ministry says three killed in Israeli strike

BEIRUT: The Lebanese health ministry said a child was among three people killed in an Israeli strike in the...

Published 13 Sep, 2024 12:38pm

Europe

Prince Harry turns 40, distanced from royals

LONDON: Prince Harry was once one of the British royal family’s most popular members, but as he celebrates his 40th...

Published 13 Sep, 2024 12:35pm

Stocks

Most Asian markets rise as traders gear up for Fed rate cut

HONG KONG: Asian markets mostly rose Friday and the yen sat around nine-month highs after another healthy day on...

Published 13 Sep, 2024 12:31pm

Business & Finance

India’s Adani Group denies Hindenburg claims on Swiss probe

MUMBAI: India’s Adani Group has denied involvement in a money laundering and securities fraud probe that reportedly...

Published 13 Sep, 2024 12:27pm

Sports

Afghanistan-New Zealand Test abandoned without ball being bowled

GREATER NOIDA: The one-off Test between Afghanistan and New Zealand was washed out on Friday after five days of...

Published 13 Sep, 2024 12:21pm

USA

Kamala Harris, Trump march forward in US battleground states drive

WASHINGTON: US presidential candidates Donald Trump and Kamala Harris head to key battleground states on Friday,...

Published 13 Sep, 2024 12:18pm

South Asia

India’s top court frees jailed PM Modi opponent on bail

NEW DELHI: A top political opponent of Indian Prime Minister Narendra Modi was granted bail on Friday after months...

Published 13 Sep, 2024 12:16pm

Sports

New Zealand women’s football coach quits

WELLINGTON: New Zealand women’s head coach Jitka Klimkova has quit, the national football body said Friday, having...

Published 13 Sep, 2024 12:13pm

Asia

North Korea shows first photos of banned uranium enrichment site

SEOUL: North Korea for the first time showed images of the centrifuges that produce fuel for its nuclear bombs on...

Published 13 Sep, 2024 12:00pm

Sports

Investigator backs WADA’s handling of Chinese swimmers case

An investigator has backed the World Anti-Doping Agency’s handling of a case involving 23 Chinese swimmers who...

Published 13 Sep, 2024 11:45am

Asia

China’s defence minister asks major countries to take lead in safeguarding global security

China’s defence minister said on Friday that China would enhance military ties with its neighbours, saying major...

Published 13 Sep, 2024 11:39am

Commodities

Palm recovers on sunoil supply fears from Black Sea, soyoil strength

MUMBAI: Malaysian palm oil futures rose in early trade on Friday from their lowest level in three weeks, due to...

Published 13 Sep, 2024 11:29am

Forex

China’s yuan inches higher as Xi’s call fuels stimulus hopes

SHANGHAI: China’s yuan inched higher against a weakening US dollar on Friday as President Xi Jinping’s call to step...

Published 13 Sep, 2024 11:26am

Europe

Russian defence official says US is trying to contain Russia and China, TASS reports

The United States is carrying out the policy of containment with regards to both Russia and China, the TASS news...

Published 13 Sep, 2024 11:24am

Commodities

Copper hits 2-week high as Xi comments fuel stimulus hopes

Copper prices rose to a two-week high on Friday, lifted by hopes of stimulus in top metals consumer China after...

Published 13 Sep, 2024 11:21am

Commodities

Iron ore firms on China stimulus hopes, set for weekly gain

SINGAPORE: Iron ore futures prices extended gains to a second straight session on Friday and were headed for a...

Published 13 Sep, 2024 11:19am

Business & Finance

Cathay Pacific buys back warrants from Hong Kong government’s 2020 bailout

SEOUL: Airline Cathay Pacific has bought back all warrants issued to the Hong Kong government in 2020, another step...

Published 13 Sep, 2024 11:04am

Stocks

China shares edge lower; Hong Kong rises on potential mortgage cut

SHANGHAI: Mainland China’s shares slipped on Friday as investors squared their books for the upcoming holidays,...

Published 13 Sep, 2024 11:00am

Mutual Funds

India bond yields seen dipping as odds of larger Fed rate cut jump

MUMBAI: Indian government bond yields are expected to open lower on Friday as sentiment was boosted after a sharp...

Published 13 Sep, 2024 10:45am

Forex

Indian rupee, forward premiums lifted by improved odds of deeper Fed rate cut

MUMBAI: The Indian rupee rose on Friday and dollar-rupee forward premiums climbed on renewed hopes of a...

Published 13 Sep, 2024 10:43am

Stocks

Japan’s Nikkei falls on stronger yen; chip stocks limit losses

TOKYO: Japan’s Nikkei share average fell on Friday after a stronger yen weighed on export-oriented stocks, while...

Published 13 Sep, 2024 10:40am

Forex

Australia, NZ dollars set for weekly gain as equities, commodities rally

SYDNEY: The Australian and New Zealand dollars were headed for weekly gains on Friday following a rally in equities...

Published 13 Sep, 2024 10:39am

Bullion Rate

Gold prices hover near record peak with weekly gains in sight

Gold prices hovered near an all-time high on Friday, and poised for a weekly gain due to a weaker dollar, while...

Published 13 Sep, 2024 10:36am

Stocks

Australian shares set for weekly gain on commodities boost; Fed meeting on tap

Australian shares rose on Friday and were set for a weekly gain, as commodity stocks advanced on strong prices for...

Published 13 Sep, 2024 10:32am

Stocks

Indian shares likely to hover near record highs at open

BENGALURU: Indian shares are set to open flat on Friday, after a sharp rally in the previous session to an all-time...

Published 13 Sep, 2024 10:29am

Forex

Dollar weak as traders add to wagers of big rate cut from Fed

SINGAPORE: The dollar softened on Friday, with the euro and the yen on the rise as investors remained on tenterhooks...

Published 13 Sep, 2024 10:27am

Commodities

Wheat hovers near two-month high amid Black Sea tensions

BEIJING: Chicago wheat futures firmed on Friday to hover near their highest levels in two months, as supply concerns...

Published 13 Sep, 2024 10:20am

Federal Consolidated Fund: Non-depositing of surplus funds will be reviewed: Aurangzeb

ISLAMABAD: Finance Minister Muhammad Aurangzeb Thursday said that the government “needs every single penny to come...

Updated 13 Sep, 2024 09:45am

Capacity charges: 33 IPPs were paid Rs979.3bn in FY24

Minister for Energy says existing Power Purchase Agreements allow IPPs to recover its fixed costs including debt servicing through Capacity Purchase Price

Updated 13 Sep, 2024 09:30am

Costly electricity: IPPs’ capacity charges not the sole factor: experts

KARACHI: Energy experts have blamed a host of issues for the rising electricity prices, saying that the recent...

Updated 13 Sep, 2024 09:27am

Talks with IMF going well, PM tells Cabinet

ISLAMABAD: Prime Minister Shehbaz Sharif has assured his Cabinet colleagues that recent negotiations with the...

Updated 13 Sep, 2024 09:26am

SCO decides to set up DEPs

ISLAMABAD: Shanghai Cooperation Organization (SCO) member states have decided to establish a Database of Economic...

Updated 13 Sep, 2024 09:23am

Policy rate cut yet again as inflation cools

KARACHI: As per expectations, the Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) on Thursday...

Updated 13 Sep, 2024 09:21am

All matters with IMF resolved: finance minister

ISLAMABAD: Finance Minister Muhammad Aurangzeb said that Pakistan is moving towards development after achieving...

Updated 13 Sep, 2024 09:19am

$7bn EFF on Sep 25 agenda of IMF EB

ISLAMABAD: The International Monetary Fund (IMF) Executive Board is scheduled to take Pakistan’s 37-month Extended...

Updated 13 Sep, 2024 09:16am

Power distribution: ADB willing to double loan amount

ISLAMAABAD: The Asian Development Bank (ADB) has reportedly showed willingness to enhance loan amount of Power...

Updated 13 Sep, 2024 09:15am

Faulty returns: FBR proposes harsh enforcement steps

ISLAMABAD: The Federal Board of Revenue (FBR) has proposed harsh enforcement measures against the existing filers of...

Updated 13 Sep, 2024 09:14am

Pak missile programme: US imposes sanctions on suppliers

ISLAMABAD: The United States has imposed sanctions on five more entities and one individual allegedly for their...

Updated 13 Sep, 2024 09:14am

BR Research

Rate cut: inadequate aggression or insufficient restraint?

If the litmus test of successful central banking is to remain widely unpopular throughout its term, the existing...

Published 13 Sep, 2024 08:51am

BR Research

APL’s FY24 power play

In a year marked by economic turbulence and fluctuating petroleum prices, Attock Petroleum Limited (PSX: APL)...

Published 13 Sep, 2024 08:49am

BR Research

Interview with Omer Aftab, Founder and CEO – Pink Ribbon Pakistan

‘No woman should die from breast cancer due to a lack of awareness or resources’ Omer Aftab, Founder and CEO of Pink...

Published 13 Sep, 2024 08:46am

BR’s refresher: your morning briefing for the day

Important updates from September 12, 2024

Published 13 Sep, 2024 08:32am

Opinion

PARTLY FACETIOUS: The Khawaja abandoned his narrative of the day before

“There are some narratives that are so flawed that I can’t understand why they not only continue but gain momentum.”...

Updated 13 Sep, 2024 07:59am

Pakistan

IHC suspends physical remand of PTI leaders

ISLAMABAD: The Islamabad High Court (IHC), on Thursday, suspended the physical remand of Pakistan Tehreek-e-Insaf...

Published 13 Sep, 2024 07:53am

Industry

PBIF advisory board chief underscores need for increased industrial activities

KARACHI: Chairman of the FPCCI Advisory Board and National Business Group Pakistan, the President of the Pakistan...

Published 13 Sep, 2024 07:52am

Money & Banking

Mashreq Pakistan forms Shariah Board

KARACHI: Mashreq Pakistan has announced the formation of the Shariah Board for its operations in Pakistan. Dr Ahcene...

Updated 13 Sep, 2024 07:48am

Money & Banking

Faysal Bank, Mastercard renew partnership

KARACHI: Faysal Bank Limited (FBL) has announced the renewal of its strategic partnership with Mastercard. The...

Published 13 Sep, 2024 07:46am

Money & Banking

JS Bank wins ‘2024 USD Clearing Quality Recognition Award’

KARACHI: JS Bank, one of the fastest-growing banks in Pakistan, has been honored with the 2024 USD Clearing Quality...

Published 13 Sep, 2024 07:44am

Pakistan

Two killed in attack on polio vaccination team

PESHAWAR: Gunmen opened fire on a polio vaccination team in Bajaur tribal district on Wednesday, killing one of ...

Published 13 Sep, 2024 07:43am

Pakistan

Speedy and inexpensive justice high priority: Tarar

ISLAMABAD: Minister for Law and Justice Azam Nazeer Tarar Thursday said dispensation of speedy and inexpensive...

Published 13 Sep, 2024 07:38am

Money & Banking

‘HBL China Story’ session held

KARACHI: HBL hosts the “HBL China Story” session, bringing together colleagues to discuss the significance of ...

Published 13 Sep, 2024 07:37am

Pakistan

Direct talks with Taliban: Asif terms Gandapur’s stance ‘a direct attack on the federation’

ISLAMABAD: A day after Khyber-Pakhtunkhwa Chief Minister Ali Amin Gandapur said that the provincial government would...

Published 13 Sep, 2024 07:24am

Middle East

Deadly Israeli strike on Gaza school draws global condemnation

GAZA STRIP: Israel faced international condemnation Thursday after a strike killed 18 people at a...

Published 13 Sep, 2024 07:33am

Middle East

Israel intelligence unit chief quits over Oct 7 failure

JERUSALEM: The Israeli army said on Thursday that the head of an elite intelligence unit will resign over the ...

Published 13 Sep, 2024 07:31am

World

India, China discuss early resumption of passenger flights

NEW DELHI: India and China discussed early resumption of direct passenger flights between their two countries,...

Published 13 Sep, 2024 07:27am

Interest Rates

ECB cuts interest rates as growth dwindles

FRANKFURT: The European Central Bank cut interest rates again on Thursday as inflation slows and economic growth...

Updated 13 Sep, 2024 07:27am

Business & Finance

Explaining alternative dispute resolution (ADR)

General, 1. Dispute resolution is a preferred vehicle to settle cases where questions of facts or a composite...

Published 13 Sep, 2024 07:08am

Letters

Pakistan in the SCO: silent or strategic?

China has emerged as the prime driver and a leader of the Shanghai Cooperation Organization (SCO) not only in the...

Published 13 Sep, 2024 07:04am

Opinion

Fixing ‘The middle-income trap’ for all countries

Although quite late, and perhaps because of the urgency being created by the fast-unfolding climate change crisis,...

Published 13 Sep, 2024 06:58am

Opinion

Renewing foreign relationships

Pakistan and the United States have a multifaceted historic relationship marked by noteworthy cooperation across...

Published 13 Sep, 2024 06:53am

Editorials

Addressing the crisis in education

EDITORIAL: In yet another pledge to improve the state of education in the country and to increase its literacy rate,...

Published 13 Sep, 2024 06:49am

Editorials

Monetary easing amid slowing inflation

EDITORIAL: In its scheduled 12 September Monetary Policy Committee meeting the discount rate was reduced by 200 ...

Published 13 Sep, 2024 06:46am

World

UN decries ‘staggering’ economic devastation across Gaza, West Bank

GENEVA: Israel’s war against Hamas has decimated Gaza’s economy, shrinking it to less than one-sixth of its 2022...