News Archives for Latest - 2025-01-14

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Markets

SUVs take the spotlight as Pakistan car sales soar 69% YoY in December

Car sales in Pakistan surged 69% to 9,820 units in December 2024 as compared to the same month of the last year,...

Updated 14 Jan, 2025 11:51pm

Technology

$25bn in 5 years: PM Shehbaz expresses satisfaction at measures for IT exports target

Prime Minister Shehbaz Sharif expressed satisfaction over the measures being taken to increase Pakistan’s IT exports...

Updated 14 Jan, 2025 11:50pm

Opinion

Grid defection: a looming challenge for Pakistan’s utilities—II

Previously we discussed the ingredients of Grid Defection and how all these are available in Pakistan. Resultantly,...

Updated 14 Jan, 2025 11:49pm

USA

US prosecutor Jack Smith defends criminal case against Trump

WASHINGTON: US Special Counsel Jack Smith concluded that Donald Trump engaged in an “unprecedented criminal effort”...

Updated 14 Jan, 2025 11:49pm

Energy

Shell Pakistan changes name to Wafi Energy Pakistan Limited

Shell Pakistan Limited (SHEL) has officially changed its name to ‘Wafi Energy Pakistan Limited’, effective January...

Updated 14 Jan, 2025 11:48pm

Exchange

Rupee remains largely stable against US dollar

Currency settles at 278.72 against the greenback in inter-bank market

Updated 14 Jan, 2025 11:48pm

Europe

UK anti-corruption minister resigns over ties to ousted Bangladesh PM

LONDON: The British minister responsible for financial services and fighting corruption resigned on Tuesday after...

Published 14 Jan, 2025 11:15pm

USA

Trump says will create ‘External Revenue Service’ for tariffs

WASHINGTON: US President-elect Donald Trump said Tuesday that he plans to form an “External Revenue Service” for...

Published 14 Jan, 2025 11:10pm

Companies

Mitchell’s Fruit Farms to grant due diligence access to CCL Holdings

Mitchell’s Fruit Farms Limited (MFFL) announced that its majority shareholders have requested the company to grant...

Updated 14 Jan, 2025 11:09pm

Stocks

Buying continues at PSX, KSE-100 gains 574 points

A buying rally continued at the Pakistan Stock Exchange (PSX) on Tuesday, as its benchmark KSE-100 Index closed the...

Updated 14 Jan, 2025 11:08pm

Business & Economy

Saudi firm Manara may invest in Pakistan’s Reko Diq mine, minister says

RIYADH: Saudi Arabian mining company Manara Minerals could invest in Pakistan’s Reko Diq mine in the next two...

Updated 14 Jan, 2025 11:08pm

Business & Economy

Aurangzeb, Lee explore opportunities to enhance Pakistan-Hong Kong economic ties

Finance Minister Muhammad Aurangzeb on Tuesday emphasized the need for strengthening economic and diplomatic...

Updated 14 Jan, 2025 11:08pm

Markets

Aurangzeb pledges enhanced security for Chinese interests in Pakistan: Report

Pledges more cooperation with Beijing on next phase of China–Pakistan Economic Corridor

Updated 14 Jan, 2025 11:07pm

Industry

Federal cabinet approves proposal to revise agreements with 14 IPPs: PMO

Revised agreements will include reduction of Rs802 billion in profits, costs of independent power producers

Updated 14 Jan, 2025 11:06pm

Europe

EU, China planning 2025 summit marking 50 years of ties: Brussels

BRUSSELS: The European Union and China are working to hold a summit this year, Brussels said Tuesday, after a phone...

Published 14 Jan, 2025 11:04pm

Europe

Lives of Gaza hostages must be ‘top priority’: Scholz

BERLIN: German Chancellor Olaf Scholz on Tuesday said a potential truce with Hamas would be “painful” for Israel but...

Published 14 Jan, 2025 10:57pm

Middle East

Gaza ceasefire ‘closer than ever’ as sides work on final details

DOHA/CAIRO/JERUSALEM: Negotiators met in Qatar on Tuesday hoping to hammer out final details of a ceasefire in Gaza,...

Published 14 Jan, 2025 10:01pm

CJCSC Shamshad, COAS Munir meet Bangladesh Armed Forces’ PSO

Published 14 Jan, 2025 09:51pm

Middle East

Blinken says Gaza ceasefire right on the brink, awaiting final word from Hamas

WASHINGTON: US Secretary of State Antony Blinken on Tuesday said an agreement on a Gaza ceasefire and hostage deal...

Published 14 Jan, 2025 09:42pm

USA

Trump to make online address to global elite’s Davos meeting

BRUSSELS: Donald Trump will make an online appearance at the annual meeting of global political and business elites...

Published 14 Jan, 2025 09:30pm

PM Shehbaz chairs federal cabinet meeting in Islamabad

Published 14 Jan, 2025 09:12pm

Stocks

US stocks rise after benign inflation report

NEW YORK: Wall Street stocks climbed early Tuesday following data showing lower than expected inflation as US...

Published 14 Jan, 2025 08:38pm

Pakistan

Bangladesh Armed Forces PSO meets CJCSC General Sahir Shamshad Mirza

Both sides emphasize the importance of strengthening military ties, according to ISPR

Published 14 Jan, 2025 07:51pm

Middle East

UAE signs trade deals with Malaysia, Kenya, New Zealand

ABU DHABI: The United Arab Emirates signed trade agreements with Malaysia, Kenya and New Zealand on Tuesday, the...

Published 14 Jan, 2025 07:39pm

Stocks

Most Gulf shares gain as Gaza ceasefire hopes rise; Egypt snaps losing streak

The Qatar stock index led most Gulf equities higher on Tuesday as hopes for a Gaza ceasefire rose after mediators...

Published 14 Jan, 2025 07:32pm

Bullion Rate

Gold price per tola falls Rs1,400 in Pakistan

Gold prices in Pakistan decreased on Tuesday in line with their decline in international rates. In the local market,...

Published 14 Jan, 2025 07:11pm

Sports

Teen qualifier Fonseca beats ninth seed Rublev in Melbourne stunner

MELBOURNE: Fearless teenage qualifier Joao Fonseca beat ninth seed Andrey Rublev on his Grand Slam debut on Tuesday...

Published 14 Jan, 2025 06:12pm

Sports

Medvedev faces fine after smashing racquet, camera in Melbourne meltdown

MELBOURNE: Daniil Medvedev faces a hefty fine after mangling his racquet and a net camera in an epic temper tantrum...

Published 14 Jan, 2025 06:07pm

Middle East

Gaza rescuers say Israeli strikes kill 18

GAZA STRIP: Gaza’s civil defence agency said Israeli air strikes and shelling killed at least 18 people across the...

Published 14 Jan, 2025 06:03pm

Sports

De Minaur makes fast start in bid to deliver home Australian Open champion

MELBOURNE: Local hope Alex de Minaur said he has never felt better after getting his Australian Open off to a flying...

Published 14 Jan, 2025 05:59pm

Pakistan

Security forces kill eight terrorists in KP IBOs: ISPR

Security forces killed eight khawarij in two separate engagements in Khyber Pakhtunkhwa, the Inter-Services Public...

Updated 14 Jan, 2025 05:52pm

Middle East

Gaza ceasefire deal close after ‘breakthrough’ in Doha

DOHA/CAIRO: Negotiators will meet in Doha on Tuesday seeking to finalise details of a plan to end the war in Gaza...

Updated 14 Jan, 2025 05:51pm

USA

Biden issues order to boost AI infrastructure in US

WASHINGTON: US President Joe Biden will sign an order Tuesday to speed up the pace at which infrastructure for...

Published 14 Jan, 2025 05:15pm

Energy

Oil prices hover near 4-month highs as Russia sanctions stay in focus

Oil prices paused their rally on Tuesday, but remained near four-month highs, with the market’s attention focused on...

Updated 14 Jan, 2025 05:06pm

Stocks

Indian equity benchmarks end higher, led by financials, metals

Indian equity benchmarks closed higher on Tuesday, as gains in financials and metals helped recoup some losses from...

Published 14 Jan, 2025 05:03pm

Commodities

Copper steadies at one-month peak as China stimulus kicks in

LONDON: Benchmark copper prices extended gains on Tuesday, holding at their highest levels in a month, after data...

Published 14 Jan, 2025 05:01pm

Commodities

Palm ends lower on profit booking after 2-session rally

JAKARTA: Malaysian palm oil futures closed lower on Tuesday as investors booked profit after two sessions of sharp...

Published 14 Jan, 2025 04:59pm

Markets

Faisal Spinning Mills successfully commissions 4.8MW windmill in Sindh

As companies in Pakistan increasingly return to renewables to meet their energy needs, Faisal Spinning Mills Limited...

Updated 14 Jan, 2025 04:53pm

Movies & Music

Glitzy Oscars nominees’ lunch cancelled after LA wildfires

LOS ANGELES, United States: The body that awards the Oscars said Monday it was cancelling its ritzy nominees’...

Published 14 Jan, 2025 04:10pm

Life & Style

WWII-era guide for UK spies to go on display

LONDON: Avoid facial disguises, carry loose change and be ready to make split-second decisions: just some of the...

Published 14 Jan, 2025 04:04pm

Recorder headlines

Published 14 Jan, 2025 04:02pm

Life & Style

Trump look-alike sings to sell pudding in Pakistan

SAHIWAL, Pakistan: In a bustling market in Pakistan’s eastern Punjab province, a food vendor who locals say bears an...

Updated 14 Jan, 2025 03:43pm

PIA privatisation: EOI to be published by month-end

ISLAMABAD: Privatisation Commission is planning to publish expression of interest (EOI) for privatisation of...

Updated 14 Jan, 2025 02:57pm

SBP affirms commitment to increasing financial inclusion

KARACHI: State Bank of Pakistan (SBP) Governor Jameel Ahmad reaffirmed the central bank’s dedication to increasing...

Updated 14 Jan, 2025 02:57pm

Country preparing to launch yuan-denominated bonds: Aurangzeb

**ISLAMABAD: Finance Minister Muhammad Aurangzeb on Monday has said that the country is preparing to launch...

Updated 14 Jan, 2025 02:57pm

H1 remittances surpass export earnings

Remittances for the first half of the current fiscal year amount to $17.645 billion, whereas exports amount to $16.561 billion

Updated 14 Jan, 2025 02:52pm

Mutual Funds

Euro zone yields edge down from multi-month highs

Euro zone bond yields edged down slightly from their multi-month highs on Tuesday, while global yields remained...

Published 14 Jan, 2025 01:52pm

Mutual Funds

UK gilt yields open down after touching multi-year highs

LONDON: British government bond yields fell in early trade on Tuesday, following US and euro zone debt, after...

Published 14 Jan, 2025 01:48pm

Commodities

India’s palm oil imports drop 41% m/m to 9-month low

India’s palm oil imports in December plunged 41% from a month earlier to a nine-month low, as a rally in prices to a...

Published 14 Jan, 2025 01:46pm

Business & Finance

S&P lowers Nissan’s outlook to negative, affirms BB+ ratings

TOKYO: S&P Global Ratings revised Nissan Motor’s credit outlook to negative from stable and affirmed its BB+...

Published 14 Jan, 2025 01:43pm

Stocks

European shares gain some ground as government bond yields ease

European shares recouped some losses on Tuesday after falling for two straight sessions, with automobiles and mining...

Published 14 Jan, 2025 01:41pm

Sports

French sailor Charlie Dalin wins Vendee Globe in record time

LES SABLES-D’OLONNE: French mariner Charlie Dalin won the round-the-world Vendee Globe race on Tuesday, crossing the...

Published 14 Jan, 2025 01:36pm

Sports

Colombia’s Rodriguez joins Mexican club Leon from Rayo Vallecano

Colombia captain James Rodriguez has joined Mexico’s Liga MX side Club Leon from LaLiga’s Rayo Vallecano on a free...

Published 14 Jan, 2025 01:31pm

Sports

Jenson Brooksby says long ban for whereabouts failures ‘unfair and unfortunate’

MELBOURNE: American Jenson Brooksby said it was “unfair and unfortunate” that he had to serve a 13-month ban for...

Published 14 Jan, 2025 01:28pm

Sports

Rybakina eases past local wildcard Jones in Melbourne

MELBOURNE: Elena Rybakina overpowered Emerson Jones 6-1 6-1 in the first round of the Australian Open on Tuesday...

Published 14 Jan, 2025 01:24pm

Business & Finance

Thai consumer confidence hits 6-month high in Dec on stimulus, tourism

BANGKOK: Thai consumer confidence rose for a third consecutive month in December to reach its highest level in six...

Published 14 Jan, 2025 12:34pm

Asia

Earthquake shakes Tibetan monasteries, casualties among clergy unknown

BEIJING: At least two Tibetan Buddhism monastic centres were severely damaged in Tibet with an unknown number of...

Published 14 Jan, 2025 12:33pm

Europe

Ukraine strikes Russia with massive drone and ATACMS attack, Russian Telegram channels

MOSCOW: Ukraine struck Russian regions with a massive drone attack and with US-made ATACMS missiles overnight,...

Published 14 Jan, 2025 12:31pm

Technology

EU reassesses tech probes into Apple, Google and Meta, FT reports

The European Commission is reassessing its probes into tech giants including Apple, Meta and Alphabet’s Google, as...

Published 14 Jan, 2025 12:28pm

Business & Finance

China’s retail investor sours quickly on stocks

SHANGHAI/HONG KONG: Day-trader Lu Delong’s optimism for a China stocks rally quickly evaporated in the first week of...

Published 14 Jan, 2025 12:26pm

Forex

Australia, NZ dollars get some relief before inflation test

SYDNEY: The Australian and New Zealand dollars got some much needed relief on Tuesday after hitting multi-year lows,...

Published 14 Jan, 2025 12:17pm

World

Search underway in Peru for trapped workers at small gold mine

LIMA: Rescue workers in northern Peru were searching for trapped miners at a small gold mine on Monday , after the...

Published 14 Jan, 2025 12:16pm

Commodities

Funds form most bullish corn stance since 2022 ahead of friendly US data

NAPERVILLE: The US Department of Agriculture last week made one of its most surprising tweaks ever to the domestic...

Published 14 Jan, 2025 12:11pm

Commodities

Palm trades lower on profit booking after 2-session rally

JAKARTA: Malaysian palm oil futures dipped on Tuesday as investors booked profit after two sessions of sharp gains...

Published 14 Jan, 2025 12:10pm

Stocks

China stocks jump most in more than 2 months on chip shares’ rally

HONG KONG: China stocks jumped the most in over two months as local chip firms rallied after the United States...

Published 14 Jan, 2025 12:08pm

Forex

Currencies edge higher, but dollar pressure caps upside

Asian currencies edged higher on Tuesday but their upside was limited, as the dollar clung near its highest in more...

Published 14 Jan, 2025 12:07pm

Commodities

Corn, soybeans hover near multi-month highs after US production downgrade

CANBERRA: Chicago corn and soybean futures on Tuesday hovered near multi-month highs reached after the US government...

Published 14 Jan, 2025 12:06pm

Sports

American hope Fritz marches through, Navarro survives Stearns scare

MELBOURNE: Fourth seed Taylor Fritz made a strong start in his bid to end the 22-year Grand Slam drought for...

Published 14 Jan, 2025 12:04pm

Commodities

Copper near 1-month high in mixed base metal trading

SHANGHAI: Base metals were largely mixed on Tuesday with copper trading near its one-month high, although a strong...

Published 14 Jan, 2025 12:00pm

Asia

Trial of South Korea’s impeached President Yoon set to begin

SEOUL: The trial of impeached President Yoon Suk Yeol was set to start on Tuesday with oral arguments over his...

Published 14 Jan, 2025 11:59am

Energy

PetroVietnam Gas seeks 4 LNG cargoes for March-May delivery in tender document

SINGAPORE: PetroVietnam Gas has issued a tender seeking four cargoes of liquefied natural gas for delivery between...

Published 14 Jan, 2025 11:57am

World

Donald Trump says he will meet ‘very quickly’ with Putin

US President-elect Donald Trump said on Monday he is going to meet Russian President Vladimir Putin “very quickly”...

Published 14 Jan, 2025 11:55am

Commodities

Iron ore extends gains on lower shipments, robust China steel exports

BEIJING: Iron ore futures rose for a fourth straight session on Tuesday to hover near their highest levels in more...

Published 14 Jan, 2025 11:53am

Business & Finance

ECB to end policy restriction by midsummer at latest, Rehn says

FRANKFURT: The European Central Bank will keep cutting interest rates and should end policy restriction in the...

Published 14 Jan, 2025 11:52am

Asia

North Korea fires short-range missiles ahead of Trump return

SEOUL: North Korea fired multiple short-range ballistic missiles off its east coast on Tuesday, South Korea’s...

Published 14 Jan, 2025 11:51am

South Asia

Dreadlocked Indian ascetics take holy dip in Hindu Kumbh festival

PRAYAGRAJ: Scores of naked Hindu ascetics smeared in holy ash charged into the water of holy rivers in northern...

Published 14 Jan, 2025 11:49am

Business & Finance

Indian central bank likely sold dollars heavily before local spot market open, traders say

MUMBAI: The Indian central bank intervened heavily before the opening of the local spot market on Tuesday, looking...

Published 14 Jan, 2025 11:46am

Forex

Yuan bounces after China steps up support, but downward pressure persists

SHANGHAI: The yuan rebounded slightly on Tuesday as the surging dollar paused and China’s central bank stepped up...

Published 14 Jan, 2025 11:45am

Europe

French PM’s concessions on pensions eyed in key policy speech

PARIS: French Prime Minister Francois Bayrou is expected to lay out in a speech on Tuesday the contours of a deal to...

Published 14 Jan, 2025 11:44am

USA

US judge allows DOJ to release report on Trump’s election subversion case

WASHINGTON: A federal judge on Monday cleared the way for the US Justice Department to publicly release a portion of...

Published 14 Jan, 2025 11:42am

Bullion Rate

Trump policy uncertainty lifts gold; US inflation data in focus

Gold prices gained on Tuesday, buoyed by uncertainty surrounding US President-elect Donald Trump’s policy plans and...

Published 14 Jan, 2025 11:03am

PM directs prompt completion of low-cost housing projects

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday directed completion of ongoing federal government’s low-cost...

Updated 14 Jan, 2025 10:52am

Mutual Funds

India bond yields to track rupee’s moves for direction

MUMBAI: Indian government bond yields are expected to be largely unchanged in early deals on Tuesday as it awaits...

Published 14 Jan, 2025 10:50am

Stocks

Australia shares snap 3-day losing run as miners, energy stocks gain

Australian shares snapped a three-day losing streak on Tuesday, with miners and energy companies leading the gains...

Published 14 Jan, 2025 10:48am

Stocks

Indian shares open higher after dropping to 7-month lows

Indian shares opened higher on Tuesday after ending at seven-month lows in the previous session, although the gains...

Published 14 Jan, 2025 10:46am

Stocks

Japan’s Nikkei tumbles as US AI curbs weigh on chip shares

TOKYO: Japan’s Nikkei share average slumped on Tuesday as investors shed semiconductor-sector stocks after the US...

Published 14 Jan, 2025 10:44am

Shaping economies: Aurangzeb highlights transformative power of innovation

HONG KONG: Senator Muhammad Aurangzeb, the Finance Minister of Pakistan, participated in the plenary session...

Updated 14 Jan, 2025 09:33am

NPGCL board reinstates CEO

ISLAMABAD: Flouting the directions of Prime Minister Shehbaz Sharif, the Board of Northern Power Generation Company...

Updated 14 Jan, 2025 09:32am

Faceless customs assessment system: PM orders countrywide enforcement

ISLAMABAD: In order to streamline trade procedures and simplify workload, Prime Minister Shehbaz Sharif said on...

Updated 14 Jan, 2025 09:30am

USA

Fire-ravaged Los Angeles in path of dangerous Santa Ana winds

LOS ANGELES: Los Angeles firefighters braced for high winds overnight into Tuesday, gusts that could fuel two...

Published 14 Jan, 2025 08:56am

Life & Style

Oscar nominations postponed for second time because of wildfires

LOS ANGELES: The Academy of Motion Picture Arts & Sciences has postponed the announcement of this year’s Oscar...

Published 14 Jan, 2025 08:48am

Separate benches formed for early disposal of tax cases: CJP

ISLAMABAD: Chief Justice of Pakistan Yahya Afridi stated that separate benches have been constituted for hearing and...

Updated 14 Jan, 2025 08:47am

‘Deviation from policy’ Fin Div seeks explanation from PAOs

ISLAMABAD: Finance Division has directed all principal accounting officials (PAOs) to explain the reasons of excess...

Updated 14 Jan, 2025 08:44am

SC questions transfer of civilian cases to military courts

ISLAMABAD: The Supreme Court sought clarification on the transfer of civilian cases to military courts under the...

Updated 14 Jan, 2025 08:44am

BR’s refresher: your morning briefing for the day

Important updates from January 13, 2025

Published 14 Jan, 2025 08:42am

Business & Finance

BOJ deputy governor flags chance of rate hike next week

YOKOHAMA: The Bank of Japan will debate whether to raise interest rates next week, as prospects of sustained wage...

Published 14 Jan, 2025 08:37am

BR Research

Pakistan’s remittance surge

In December 2024, remittances to Pakistan reached $3.08 billion, reflecting an impressive 29.3 percent year-on-year...

Published 14 Jan, 2025 08:36am

Forex

Indian rupee unlikely to find support in Asia FX’s slight recovery

MUMBAI: The Indian rupee’s spiral is likely to persist on Tuesday despite the mild recovery in its Asian peers and a...

Published 14 Jan, 2025 08:33am

BR Research

Murree Brewery Company Limited

Murree Brewery Company Limited (PSX: MUREB) was incorporated as a public limited company in 1861. The principal...

Published 14 Jan, 2025 08:30am

Companies

Hyundai, Stellantis, Delta each donating $1 million to Trump inaugural fund

WASHINGTON: Hyundai Motor’s U.S. unit, Chrysler-parent Stellantis and Delta Air Lines, on Monday each announced they...

Published 14 Jan, 2025 08:29am

USA

China mulls potential sale of TikTok US to Musk, Bloomberg News reports

Chinese officials are in preliminary talks about a potential option to sell TikTok’s operations in the United States...

Published 14 Jan, 2025 08:24am

Stocks

US futures steady, Japan slides in nervous wait for US CPI

NEW YORK/SINGAPORE: Ten-year Treasury yields hit 14-month highs, driving a spike in the dollar and a wave of selling...

Published 14 Jan, 2025 08:17am

Business & Finance

Amazon orders 200 new electric heavy trucks from Daimler for Germany, UK

Amazon, said on Tuesday it has ordered 200 Mercedes-Benz fully-electric eActros 600 heavy goods vehicles from...

Published 14 Jan, 2025 08:11am

Business & Finance

Australia consumer sentiment index dips 0.7% in Jan

SYDNEY: Australian consumer sentiment dipped for a second month in January as financial stress dominated at the...

Published 14 Jan, 2025 08:07am

Forex

Dollar clings to 2-year high as US rates, tariffs in focus

SINGAPORE: The dollar hung near its highest in more than two years on Tuesday as traders scale back U.S. rate cuts...

Published 14 Jan, 2025 07:58am

Opinion

Rental income from immovable properties situated outside Pakistan

The undesired event: The Federal Board of Revenue (FBR) through a letter dated October 31, 2022 has clarified that...