News Archives for Latest - 2024-09-19

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Archive - 2024-09-19

South Asia

India probing EY’s ‘work environment’ after death of young employee

NEW DELHI: India is investigating the work environment at Big Four accounting firm EY, the labour minister said on...

Published 19 Sep, 2024 11:33pm

Europe

Blinken urges against ‘escalatory actions’ in Mideast

PARIS: US Secretary of State Antony Blinken Thursday urged against “escalatory actions by any party” in the Middle...

Published 19 Sep, 2024 11:11pm

World

Iran warns Israel of ‘crushing response’ to Lebanon device blasts

Such terrorist acts are undoubtedly due to desperation, successive failures of Zionist regime, Iran’s Revolutionary Guards says

Published 19 Sep, 2024 10:47pm

Europe

Spanish PM, Palestinian leader urge Mideast de-escalation

MADRID: Spanish Prime Minister Pedro Sanchez on Thursday called for a de-escalation of the conflict in the Middle...

Published 19 Sep, 2024 11:03pm

Pakistan

Election Act amendments invalidate SC verdict on reserved seats, NA Speaker tells ECP

Ayaz Sadiq says protection of laws passed by Parliament and ensuring their enforcement are constitutional responsibilities of the ECP

Updated 19 Sep, 2024 10:51pm

Forex

SBP-held foreign exchange reserves increase $43mn, now stand at $9.51bn

Foreign exchange reserves held by the State Bank of Pakistan (SBP) increased by $43 million on a weekly basis,...

Updated 19 Sep, 2024 10:51pm

Middle East

Hezbollah chief denounces Israeli attacks, says they could be ‘considered declaration of war’

BEIRUT/OCCUPIED JERUSALEM: Deadly Israeli attacks that blew up Hezbollah radios and pagers crossed all red lines,...

Updated 19 Sep, 2024 10:42pm

Pakistan

PM Shehbaz says Pakistan keen to expand trade, security cooperation with Russia

Prime Minister Shehbaz Sharif said on Thursday that Pakistan is keen to expand its trade, economic, energy,...

Updated 19 Sep, 2024 10:38pm

Pakistan

Pakistan terms electronic means to commit terrorism in Lebanon ‘reprehensible’

Pakistan strongly condemned on Thursday the recent attacks on Lebanon’s Hezbollah, saying that the use of cyber and...

Updated 19 Sep, 2024 10:24pm

Energy

Pakistan’s power generation falls sharply amid rising costs, solarisation

Power generation in Pakistan clocked in at 13,180 GWh (17,714 MW) in August 2024, a decline of over 17% YoY as...

Updated 19 Sep, 2024 10:24pm

Forex

Rupee closes below 278 against US dollar after over 5 months

Currency settles at 277.91 against greenback in inter-bank market

Updated 19 Sep, 2024 10:22pm

Perspectives

The Lebanon pager carnage puts all Western tech under the radar

After the horrors in Lebanon, most of us started to wonder if the cellphone in our hands was safe. Some of us took...

Updated 19 Sep, 2024 10:21pm

USA

US Fed rate cut is ‘very positive sign’ for economy: Yellen

WASHINGTON: The US central bank’s decision to slash interest rates this week is a “very positive sign” for where the...

Published 19 Sep, 2024 09:10pm

Stocks

KSE-100 retreats after briefly hitting record high of 82,000

Led by index-heavy stocks, benchmark index gains nearly 1.24% to settle at 81,459.29

Updated 19 Sep, 2024 09:00pm

Middle East

Elon Musk’s Starlink internet launches in war-scarred Yemen

DUBAI: Tech billionaire Elon Musk’s satellite internet service Starlink has launched in Yemen, provoking the anger...

Published 19 Sep, 2024 07:47pm

Stocks

Wall St jumps with tech stocks in the lead after Fed kicks off easing cycle

Wall Street rallied on Thursday with the S&P 500 hitting another intraday record high after the Federal Reserve...

Published 19 Sep, 2024 07:40pm

Energy

Oil prices rise after US interest rate cut

Oil prices rose more than 1% on Thursday after a large interest rate cut from the U.S. Federal Reserve, helping...

Updated 19 Sep, 2024 07:25pm

Pakistan

President Zardari, Russia Deputy PM discuss trade, economic cooperation

Pakistan and Russia Thursday reaffirmed their commitment to expanding trade and economic ties, besides enhancing...

Published 19 Sep, 2024 07:19pm

Middle East

Lebanon bans pagers, walkie-talkies from flights

BEIRUT: Lebanese authorities on Thursday banned walkie-talkies and pagers from being taken on flights from Beirut...

Published 19 Sep, 2024 07:12pm

Middle East

Israel bombs southern Lebanon after wave of deadly blasts

BEIRUT: Israel bombed Hezbollah strongholds in southern Lebanon on Thursday, piling pressure on the group after two...

Published 19 Sep, 2024 06:37pm

Luxury

World’s 50 best hotels 2024: Asia leads the way in hospitality

Capella Bangkok tops list, Dubai's Atlantis The Royal at 9th place

Published 19 Sep, 2024 06:30pm

Sports

Latham, Williamson half-tons take Kiwis to 255-4 in Sri Lanka

GALLE: Half-centuries from Tom Latham and Kane Williamson put New Zealand at 255-4 and in hot pursuit of Sri Lanka...

Published 19 Sep, 2024 06:25pm

Sports

Playing Nadal is ‘kind of a nightmare’, says Alcaraz

BERLIN: Carlos Alcaraz has admitted to being starstruck when he first faced Rafael Nadal, saying that facing the...

Published 19 Sep, 2024 06:20pm

Money & Banking

Turkish central bank keeps rates steady, alters guidance

ISTANBUL: Turkiye’s central bank held its main interest rate steady at 50% for a sixth straight month on Thursday as...

Updated 19 Sep, 2024 06:16pm

Commodities

Gold price hits new record high of Rs268,500 per tola in Pakistan

After registering a decline in the previous session, gold prices in Pakistan gained on Thursday in line with their...

Updated 19 Sep, 2024 06:01pm

Middle East

Hezbollah says 20 members dead, hours after walkie-talkie blasts

BEIRUT: Lebanon’s Hezbollah group said 20 of its members were killed, with a source close to the group telling AFP...

Updated 19 Sep, 2024 05:49pm

South Asia

Student ally of Bangladesh ex-PM beaten to death on campus

DHAKA: A Bangladeshi student leader was beaten to death at his university campus in an apparent reprisal for attacks...

Published 19 Sep, 2024 05:31pm

Europe

Russia claims another village in Ukraine’s Donetsk region

MOSCOW: Russia on Thursday said it had captured another village in Ukraine’s eastern Donetsk region, where its...

Published 19 Sep, 2024 05:25pm

Europe

Evacuations as tail of Storm Boris floods northeast Italy

ROME: Italian authorities have evacuated some 1,000 people from homes as the tail end of Storm Boris pummelled a...

Published 19 Sep, 2024 05:23pm

Money & Banking

Bank of England holds rate steady after jumbo US cut

LONDON: The Bank of England on Thursday kept its key interest rate at 5.0 percent, deciding against consecutive cuts...

Published 19 Sep, 2024 05:19pm

Sports

Raducanu advances to Korea Open quarter-finals

SEOUL: Emma Raducanu moved into the Korea Open quarter-finals and faces a potential match-up with number-one seed...

Published 19 Sep, 2024 05:09pm

Sports

Ton-up Ashwin lifts India to 339-6 against Bangladesh

CHENNAI: A counter-attacking century from Ravichandran Ashwin pulled India to 339-6 on day one of the first Test...

Updated 19 Sep, 2024 05:06pm

South Asia

Samsung sues Indian union over strike that disrupted output

CHENNAI: Samsung Electronics’ Indian unit has sued members of a labour union that has led a strike for 11 days at...

Published 19 Sep, 2024 04:39pm

Technology

YouTube launches new TV-focused tools for creators

NEW YORK: YouTube beefed up tools for creators on Wednesday as it competes with streaming rivals such as Netflix on...

Published 19 Sep, 2024 04:14pm

Forex

Ugandan shilling firms; commodity, remittance dollar flows help

KAMPALA: The Ugandan shilling was firmer on Thursday, underpinned by inflows of dollars from commodity exporters and...

Published 19 Sep, 2024 03:03pm

Energy

Saudi Arabia’s crude oil exports in July hit almost one-year low

Saudi Arabia’s crude oil exports in July fell to their lowest level in nearly a year, data from the Joint...

Published 19 Sep, 2024 03:02pm

Commodities

Copper hits two-month high after Fed’s bold rate cut

LONDON: Copper prices hit their highest in two months and aluminium the highest in three on Thursday after the...

Published 19 Sep, 2024 02:58pm

Movies & Music

Harvey Weinstein pleads not guilty to new sexual assault charge

NEW YORK: Harvey Weinstein pleaded not guilty to a new sexual assault charge on Wednesday, nearly five months after...

Published 19 Sep, 2024 02:51pm

Europe

Departing NATO chief to warn US, Europe against ‘isolationism’

BRUSSELS: Outgoing NATO chief Jens Stoltenberg was to warn the United States and Europe against “isolationism” in...

Published 19 Sep, 2024 02:54pm

Europe

EU chief von der Leyen announces Friday Ukraine visit

BRUSSELS: EU chief Ursula von der Leyen will travel to Kyiv on Friday and meet President Volodymyr Zelensky, as the...

Published 19 Sep, 2024 02:52pm

KE supports entry of other Discos into Karachi

KARACHI: Moonis Alvi, Chief Executive Officer of K-Electric, has expressed his support for the entry of other...

Updated 19 Sep, 2024 02:50pm

Mangla power house refurbishment: Wapda approaches Power Division for tunnel closure

ISLAMABAD: Water and Power Development Authority (Wapda) has approached Power Division for closure of Tunne1 (unit...

Updated 19 Sep, 2024 02:49pm

Opportunities for implementing FTAs with EEU states discussed

ISLAMABAD: Pakistan and Russia have agreed to continue engagement for expanding bilateral relations in areas of...

Updated 19 Sep, 2024 02:49pm

Forex

Russian rouble hits lowest against China’s yuan in almost a year

MOSCOW: The Russian rouble fell to its lowest against China’s yuan since Oct. 2023 on the Moscow Stock Exchange on...

Published 19 Sep, 2024 02:25pm

Forex

China’s yuan eases after Fed’s outsized rate cut

SHANGHAI: China’s yuan eased slightly against the dollar in early trade on Thursday, reflecting broad strength of...

Published 19 Sep, 2024 02:21pm

Stocks

London stocks jump after Fed rate cut; BoE policy verdict eyed

UK shares rose on Thursday, tracking gains in global equities after the Federal Reserve initiated a 50-basis-point...

Published 19 Sep, 2024 01:30pm

Bullion Rate

Gold holds firm after Fed’s bumper rate cut

Gold prices climbed on Thursday after hitting a record high in the previous session, as the US Federal Reserve...

Published 19 Sep, 2024 01:26pm

Forex

South African rand on front foot post-Fed, SARB decision up next

JOHANNESBURG: The South African rand gained in early trade on Thursday after a super-sized interest rate cut by the...

Published 19 Sep, 2024 01:23pm

Stocks

Major Gulf markets up after central banks cut rates to mirror Fed

Major stock markets in the Gulf rose in early Thursday trade after most central banks in the region cut their key...

Published 19 Sep, 2024 01:20pm

Forex

Sterling rises vs dollar after Fed; BoE in focus

Sterling rose against a weakening dollar after the Federal Reserve cut interest rates by 50 basis points, with...

Published 19 Sep, 2024 01:18pm

‘The Review’ of SBP: Timely realization of IMF lending to help revive inflows

SBP’s Mid-Year Performance Review of the Banking Sector mentions that Pakistan's macroeconomic environment has been improving with revival in economic activity

Updated 19 Sep, 2024 01:12pm

Asia

Myanmar flood death toll climbs to 268: state media

YANGON: The death toll in Myanmar in the wake of Typhoon Yagi has reached 268, with 88 people missing, the junta has...

Published 19 Sep, 2024 01:07pm

Stocks

European stock markets rally after bumper Fed rate cut

LONDON: Europe’s main stock markets rallied at the start of trading Thursday after the US Federal Reserve’s first...

Published 19 Sep, 2024 01:05pm

Sports

Kiwi rookie O’Rourke takes five wickets, Sri Lanka all out for 305

GALLE: Rookie New Zealand fast bowler William O’Rourke took 5-55 to help dismiss Sri Lanka for 305 on the second...

Published 19 Sep, 2024 12:17pm

Technology

Nintendo sues ‘Pokemon with guns’ maker for patent infringement

TOKYO: Japan’s Nintendo said Thursday it has filed a lawsuit accusing the developer of a video game jokingly dubbed...

Published 19 Sep, 2024 12:06pm

Europe

World better positioned against mpox than for Covid: vaccine alliance

GENEVA: Lessons learned from the Covid pandemic have left the world in a much better position to tackle the current...

Published 19 Sep, 2024 12:03pm

South Asia

Sri Lanka to vote in first poll since economic collapse

COLOMBO: Cash-strapped Sri Lanka will vote for its next president Saturday in an effective referendum on an...

Published 19 Sep, 2024 11:59am

Sports

Aleksey Miranchuk grabs equalizer as Atlanta hold Messi’s Miami to 2-2 draw

MIAMI: Aleksey Miranchuk scored late to give Atlanta a 2-2 Major League Soccer draw against Inter Miami on...

Published 19 Sep, 2024 11:54am

Technology

Meta and Spotify blast EU decisions on AI

PARIS: A group of companies including Meta and Spotify blasted the European Union Thursday for its “fragmented and...

Published 19 Sep, 2024 11:52am

Business & Finance

European auto industry urges assistance ahead of rule tightening

PARIS: European carmakers on Thursday asked the EU for “urgent” assistance as they contend with slumping electric...

Published 19 Sep, 2024 11:49am

Sports

Ex-England star Lingard fined over South Korea scooter ride

SEOUL: Former Manchester United and England star Jesse Lingard has been fined $143 for riding an electric scooter in...

Published 19 Sep, 2024 11:46am

Europe

Flood-hit region leaders to meet in Poland to discuss EU aid

WARSAW: The leaders of four countries hit by Storm Boris will meet Thursday in Poland with European Commission...

Published 19 Sep, 2024 11:42am

Perspectives

The deplorable state of Pakistan’s digital divide

According to the 2017 national population census, 64% of Pakistan’s population lives in rural areas. While this...

Published 19 Sep, 2024 11:29am

Stocks

Tokyo surges on weak yen as Asian traders cheer big US rate cut

HONG KONG: Tokyo’s Nikkei led Asian markets higher Thursday as the yen hit a two-week high after the Federal Reserve...

Published 19 Sep, 2024 11:37am

Asia

Japan walkie-talkie maker says investigating after Lebanon blasts

TOKYO: Japanese firm Icom said Thursday that it was investigating after media reported that two-way radio devices...

Published 19 Sep, 2024 11:34am

Mutual Funds

China bond yields fall after Fed rate cut

SHANGHAI: Chinese bond yields fell across the board in early trade on Thursday after the larger-than-usual US rate...

Published 19 Sep, 2024 11:06am

Commodities

Soybean futures dip as Brazil drought concerns ease

CANBERRA: Soybean futures edged lower on Thursday as traders eased their concerns that hot, dry weather in top...

Published 19 Sep, 2024 11:03am

Commodities

Palm oil rises on stronger rival Dalian, weaker ringgit

KUALA LUMPUR: Malaysian palm oil futures rose on Thursday, buoyed by strength in rival Dalian contracts and a weaker...

Published 19 Sep, 2024 11:00am

Forex

Indian rupee faces challenge as US dollar surges after Fed’s large rate cut

MUMBAI: The Indian rupee’s recovery on Thursday will have to contend with a broadly higher US dollar despite the...

Published 19 Sep, 2024 10:52am

South Asia

Fed rate cut will not significantly impact inflows into India, official says

NEW DELHI: The US Federal Reserve’s decision to cut interest rates will not significantly impact inflows into India,...

Published 19 Sep, 2024 10:49am

Business & Finance

Malaysia’s August exports rise 12.1% y/y, slightly above forecast

KUALA LUMPUR: Malaysia’s exports rose 12.1% in August from a year earlier, slightly above market expectations,...

Published 19 Sep, 2024 10:46am

Stocks

Fed rate cut boosts Indian shares to record high

BENGALURU: Indian shares rose to a record high in early trade on Thursday, led by information technology stocks,...

Published 19 Sep, 2024 10:37am

Middle East

Hezbollah devices explode again in Lebanon, raising fears of wider Israel conflict

BEIRUT: Hand-held radios used by armed group Hezbollah detonated on Wednesday across Lebanon’s south in the...

Published 19 Sep, 2024 10:35am

Business & Finance

HSBC to cut best lending rate in Hong Kong by 25 bps to 5.625%

HONG KONG: HSBC Holdings said it was cutting its best lending rate in Hong Kong by 25 basis points to 5.625% from...

Published 19 Sep, 2024 10:18am

Mutual Funds

India bond yields dip as bulls take charge, reversing early rise

MUMBAI: Indian government bond yields dipped slightly on Thursday, reversing an early rise as traders resumed bond...

Published 19 Sep, 2024 10:16am

Europe

One killed, two wounded by Russian strikes in Ukraine’s Zaporizhzhia region, governor says

One elderly woman was killed and two other women were wounded by Russian strikes in Ukraine’s Zaporizhzhia region,...

Published 19 Sep, 2024 10:13am

Stocks

China stocks rebound as Fed rate relief drives easing hopes

HONG KONG: China shares rebounded from modest early losses on Thursday, led by gains in real estate developers and...

Published 19 Sep, 2024 10:10am

Forex

Australia, NZ dollars draw support from data surprises

SYDNEY: The Australian dollar recouped early losses on Thursday as an upbeat jobs report helped offset broad gains...

Published 19 Sep, 2024 10:07am

Stocks

Japan’s Nikkei jumps as exporters advance on weaker yen

TOKYO: Japan’s Nikkei share average rose more than 2% on Thursday, led by exporters as the yen weakened against the...

Published 19 Sep, 2024 10:03am

Stocks

Australian shares hit record high as Fed cuts rate; local jobs data in focus

Australian shares inched higher to a fresh record high on Thursday with miners leading gains as investors cheered on...

Published 19 Sep, 2024 10:01am

Forex

Dollar rebounds after Fed goes big on rate cut

SINGAPORE: The US dollar rose broadly on Thursday, recovering from an earlier tumble in the immediate aftermath of...

Published 19 Sep, 2024 09:58am

10pc tax credit allowed by SC to persons who imported, installed machinery till June 2019

ISLAMABAD: The Supreme Court of Pakistan (SC) has allowed 10 percent tax credit to the persons who have imported and...

Updated 19 Sep, 2024 09:25am

Business & Finance

August FCA: CPPA-G seeks Re0.57 per unit negative adjustment

ISLAMABAD: The Central Power Purchasing Agency–Guaranteed (CPPA-G) has sought negative adjustment of Re 0.57 per...

Updated 19 Sep, 2024 09:24am

Pakistan

Proposed ‘Constitutional package’: SC requested to reassign petition

ISLAMABAD: The Supreme Court has been urged to urgently put the petition, which challenges ‘proposed package’ to...

Updated 19 Sep, 2024 09:06am

Foreign-funded projects: EAD seeks Rs196bn more to cover rupee deficit

ISLAMABAD: The Economic Affairs Division has demanded additional Rs196 billion ($664 million) to address rupee cover...

Updated 19 Sep, 2024 09:04am

Auction for MTBs: SBP rejects all bids

KARACHI: Following the federal government’s directives, the State Bank of Pakistan (SBP) has rejected all bids of...

Updated 19 Sep, 2024 08:51am

Sales tax condonation for time limit: FBR issues ‘checklist’ for taxpayers

ISLAMABAD: The Federal Board of Revenue (FBR) has issued a “checklist” for processing of condonation cases of...

Updated 19 Sep, 2024 08:51am

Business & Finance

Jul-Aug FDI up 55.5pc to $350.3m YoY

KARACHI: The Foreign Direct Investment (FDI) in the country rose by 55.5 percent during the first two months of this...

Updated 19 Sep, 2024 08:51am

BR’s refresher: your morning briefing for the day

Important updates from September 18, 2024

Published 19 Sep, 2024 08:50am

BR Research

Current account roundup: 2MFY25

In August, the current account posted a marginal surplus of $75 million. The deficit for the July-August period...

Published 19 Sep, 2024 08:42am

BR Research

Petroleum levy: a fifty billion rupees hole

The prime minister was quick to take credit for the reduction in retail petroleum prices, for the fourth fortnight...

Published 19 Sep, 2024 08:41am

BR Research

Fauji Foods Limited

Fauji Foods Limited (PSX: FFL) was incorporated in Pakistan as a public limited company in 1966. The company is a...

Published 19 Sep, 2024 08:36am

Opinion

Soft power—Pakistani storytelling potential

A good story attracts. A gripping story grips. A great plot provokes. From Shakespeare to Hollywood the storytelling...

Updated 19 Sep, 2024 07:58am

Taxes

FBR says name of filer in AJK CBR or GBC BoR to be included in ATL

ISLAMABAD: The Federal Board of Revenue (FBR) will include name of a person in the Active Taxpayers List (ATL), ...

Published 19 Sep, 2024 07:30am

Pakistan

President rejects elections for IIOJK Legislative Assembly

ISLAMABAD: President Asif Ali Zardari has categorically rejected the elections for the Legislative Assembly of ...

Published 19 Sep, 2024 07:24am

Pakistan

Punjab govt reduces public transport fares: minister

LAHORE: Punjab Information Minister Azma Bokhari said public transport fares in Punjab have been decreased by 30 to...

Published 19 Sep, 2024 07:23am

Industry

‘Export from KP drastically cut after imposition of 2pc cess’

PESHAWAR: Members of the business community have said the imposition of two percent Infrastructure Development Cess...

Published 19 Sep, 2024 07:32am

Pakistan

Governor inaugurates Zaitoon Ashraf IT Park

KARACHI: The Governor of Sindh, Kamran Khan Tessori, inaugurated the Zaitoon Ashraf IT Park, established near the...

Published 19 Sep, 2024 07:29am

Pakistan

KP govt establishes debt management fund

PESHAWAR: The provincial cabinet of Khyber Pakhtunkhwa approved the establishment of a Debt Management Fund to...

Published 19 Sep, 2024 07:27am

Pakistan

PM reiterates commitment to work closely with UK leadership

ISLAMABAD: Prime Minister Shehbaz Sharif has reiterated Pakistan's commitment to work closely with the leadership of...

Published 19 Sep, 2024 07:26am

Cotton & Textile

About 1,434,028 bales of cotton reach ginneries

LAHORE: According to the latest cotton statistics released by the Pakistan Cotton Ginners Association (PCGA) as of...

Published 19 Sep, 2024 07:23am

Money & Banking

Securities, futures markets: SECP to develop Islamic finance ecosystem

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has decided to develop Islamic finance ...

Published 19 Sep, 2024 07:22am

Pakistan

‘No other court will be accepted over SC’, says PTI Senator

LAHORE: PTI Senator Hamid Khan, on Wednesday said no other court would be accepted over the Supreme Court. The...

Published 19 Sep, 2024 07:19am

Pakistan

Punjab cabinet approves three mega projects

LAHORE: Punjab cabinet, which met on Tuesday with Chief Minister Maryam Nawaz Sharif in chair approved three mega...

Published 19 Sep, 2024 07:18am

Pakistan

JI chief urges CJP to help resolve ‘political crisis’

LAHORE: Chief of Jamaat-e-Islami Hafiz Naeem-ur-Rehman has categorically rejected the proposed constitutional...

Published 19 Sep, 2024 07:16am

Pakistan

3 ‘terrorists’ killed in ‘encounter’

LAHORE: In a significant counter-terrorism operation, three unidentified terrorists were killed in an exchange of...

Published 19 Sep, 2024 07:14am

Pakistan

King Charles invites PM to CHOGM

ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday received a telephone call from King Charles III, who formally...

Published 19 Sep, 2024 07:13am

Pakistan

Lawyers’ bodies advocate formation of ‘Federal Constitutional Court’

ISLAMABAD: The representatives of the Pakistan Bar Council (PBC), the Supreme Court Bar Association (SCBA) and the...

Published 19 Sep, 2024 07:11am

Pakistan

Intra-party elections: ECP adjourns case as PTI seeks more time

ISLAMABAD: Having rejected the PTI intra-party polls on procedural grounds in the past, the ECP has now stated that...

Published 19 Sep, 2024 07:10am

Opinion

Witnessing China’s economic evolution: a journey through progress and innovation

From September 3, 2024, to September 12, 2024, I had the privilege of leading an 8-member media delegation to ...