News Archives for Latest - 2024-07-01

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Archive - 2024-07-01

Victims of Hamas attack sue Iran, Syria, North Korea in U.S. court

More than 100 victims and relatives of victims of the Oct. 7 attack by Hamas in Israel sued Iran, Syria and North...

Published 01 Jul, 2024 11:46pm

Prior actions for IMF programme largely complete, says Aurangzeb

IMF also wants work on some structural benchmarks like a tax-to-GDP ratio, power sector, FBR, and SOE reforms

Updated 01 Jul, 2024 11:42pm

Chang`e-6 China’s lunar mission’s accomplishment & Pakistan

Chang’e-6 lunar probe – named after the mythical Chinese moon goddess – returned to earth in China’s northern region...

Published 01 Jul, 2024 11:22pm

Detention of Imran Khan violates international law, UN working group says

WASHINGTON: Former Pakistani Prime Minister Imran Khan’s detention is arbitrary and in violation of international...

Published 01 Jul, 2024 10:59pm

Israel issues new southern Gaza evacuation warning

JERUSALEM: The Israeli army on Monday issued a new evacuation order for parts of Khan Yunis and Rafah in southern...

Published 01 Jul, 2024 10:45pm

Fifth seed Medvedev eases into second round

LONDON: Fifth seed Daniil Medvedev strode confidently and cheerfully into the Wimbledon second round on Monday with...

Published 01 Jul, 2024 07:56pm

Asia Equity

Positive sentiment at PSX amid anticipation of new IMF programme

Positive sentiment prevailed at the Pakistan Stock Exchange (PSX) as the benchmark KSE-100 Index gained nearly 400...

Updated 01 Jul, 2024 07:18pm

Stocks

SIUT Trust takes physical possession of Karachi’s Regent Plaza

Pakistan Hotels Developers Limited (PHDL) has handed over physical possession of Regent Plaza, a four-star hotel in...

Updated 01 Jul, 2024 07:16pm

Stocks

US stocks higher at start of holiday-shortened week

NEW YORK: Wall Street stocks climbed early Monday at the start of the shortened holiday week that features US...

Published 01 Jul, 2024 07:14pm

Companies

After ‘clarity on stock situation’, Lucky Motor opens Kia Stonic booking with Rs780,000 price increase

Lucky Motor Corporation, formerly known as KIA Lucky Motors Pakistan, has re-opened the booking of its Kia Stonic...

Published 01 Jul, 2024 07:12pm

Pakistan, India exchange lists of prisoners

Pakistan and India on Monday exchanged lists of prisoners in each other’s custody through diplomatic channels, in...

Published 01 Jul, 2024 07:11pm

Business & Economy

We understand the pain, will provide relief to salaried class at first opportunity we get: Aurangzeb

Finance Minister Muhammad Aurangzeb has said that the government will provide relief to the salaried class at the...

Updated 01 Jul, 2024 07:03pm

Business & Economy

Pakistan’s headline inflation increases pace, clocks in at 12.6% in June 2024

Average CPI inflation reading in FY24 clocks in at 23.4%

Updated 01 Jul, 2024 07:03pm

Energy

Oil prices lifted by summer demand hopes

Oil prices rose on Monday, helped by expected peak summer consumption and OPEC+ production cuts, though gains were...

Updated 01 Jul, 2024 07:01pm

Anderson set to mentor England’s quicks after Test exit

LONDON: England great James Anderson will join the team’s backroom staff as a fast-bowling mentor when he retires...

Published 01 Jul, 2024 06:40pm

Commodities

Gold price per tola decreases Rs200 in Pakistan

Gold prices declined in Pakistan on Monday in line with the decrease in the international rate. In the local market,...

Updated 01 Jul, 2024 06:27pm

Middle East

Palestinian fighters fire rockets into Israel, tanks advance in Gaza

CAIRO/GAZA: Palestinian group Islamic Jihad fired a barrage of rockets into Israel on Monday as fighting raged in...

Published 01 Jul, 2024 06:18pm

Forex

Euro rises as French far right faces narrow road to majority

LONDON/SINGAPORE: The euro climbed on Monday after a convincing and historic win by the French far right in the...

Published 01 Jul, 2024 06:03pm

Sabalenka pulls out of Wimbledon due to shoulder injury

LONDON: Third seed Aryna Sabalenka pulled out of Wimbledon shortly before her opening match on Monday due to a...

Published 01 Jul, 2024 05:51pm

Alcaraz starts Wimbledon title defence as Murray faces ‘closure’

LONDON: Carlos Alcaraz begins the defence of his Wimbledon title on Monday as two-time champion Andy Murray decides...

Published 01 Jul, 2024 05:39pm

South Asia

Taliban to press international community on Afghanistan sanctions

DOHA: Taliban authorities said Monday they would press the international community over economic sanctions as they...

Published 01 Jul, 2024 05:14pm

Movies & Music

Eddie Murphy’s ‘every man’ hero returns in ‘Beverly Hills Cop’ sequel

LOS ANGELES: After more than a decade of superheroes saving the world on the movie screen, Eddie Murphy is bringing...

Published 01 Jul, 2024 05:13pm

Europe

Russia says captured two more east Ukrainian villages

MOSCOW: Russia said Monday it had captured two more east Ukrainian villages, as Moscow’s forces have continued to...

Published 01 Jul, 2024 05:11pm

Budgets

Access the Finance Act 2024 here

Published 01 Jul, 2024 05:06pm

Energy

MARI drills another appraisal well in Sindh

Mari Petroleum Company Limited (MARI), one of Pakistan’s largest energy and exploration companies, has successfully...

Published 01 Jul, 2024 04:34pm

Energy

OGDC revitalises oil & gas well in KPK

Oil and Gas Development Company Limited (OGDCL) has successfully revitalised production from Nashpa-4 located in...

Updated 01 Jul, 2024 04:23pm

Cricket

Rohit hails India World Cup win as ‘dream come true for a billion’

NEW DELHI: World Cup-winning skipper Rohit Sharma said his team’s victory was a “dream come true” for India, as he...

Published 01 Jul, 2024 03:01pm

Europe

Russia defence ministry says destroyed 36 Ukrainian drones

MOSCOW: Russian forces destroyed 36 Ukrainian drones overnight in regions near the border, Moscow’s defence ministry...

Published 01 Jul, 2024 02:56pm

Middle East

Israel army says Palestinian fire barrage of ‘20 projectiles’

JERUSALEM: Israel’s military said Palestinian fired on Monday a barrage of some “20 projectiles” from Gaza’s main...

Published 01 Jul, 2024 02:47pm

Movies & Music

Fawad Khan, Sanam Saeed series ‘Barzakh’ reveals new trailer

New series set to premiere on July 19

Published 01 Jul, 2024 02:32pm

Europe

Russian shelling kills two elderly women in east Ukraine

KYIV: Russian attacks in the war-battered eastern Ukrainian region of Donetsk early Monday killed two elderly women...

Published 01 Jul, 2024 02:34pm

Stocks

China stocks gain on quickening factory activity

SHANGHAI: China stocks rose on Monday, after a private sector survey showed China’s manufacturing activity grew at...

Published 01 Jul, 2024 02:28pm

Stocks

Major Gulf bourses track oil prices higher

Major bourses in the Gulf rose in early trade on Monday, with the Saudi index leading gains on concerns of a fuel...

Published 01 Jul, 2024 02:24pm

Travel

Crowd control at Japan’s Mount Fuji as hiking season begins

MOUNT FUJI, Japan: Mount Fuji’s summer climbing season began on Monday with new crowd control measures to combat...

Published 01 Jul, 2024 02:07pm

Financial

JGB yields rise as global politics add to pressure from yen

TOKYO: Japanese government bond yields rose on Monday as a weak yen stoked expectations for tighter Bank of Japan...

Published 01 Jul, 2024 01:51pm

Commodities

Palm tracks rival edible oils higher

JAKARTA: Malaysian palm oil futures extended gains for the fourth straight session on Monday, underpinned by worries...

Published 01 Jul, 2024 01:28pm

Stocks

Australian shares start second half of year on cautious note before RBA minutes

Australian shares closed lower on Monday, starting the second half of 2024 on a sombre note, as political...

Updated 01 Jul, 2024 01:22pm

Stocks

South Korean shares rise on robust data; battery, biopharma stocks jump

KOSPI closed up 6.49 points, or 0.23%, at 2,804.31

Published 01 Jul, 2024 01:17pm

Stocks

Japan’s Nikkei surrenders most early gains as BOJ data lifts rate-hike bets

TOKYO: Japan’s Nikkei share average gave up most of its early gains to end little changed on Monday, as the central...

Updated 01 Jul, 2024 01:12pm

Stocks

European stocks rally after first round of French vote

European stocks rallied on Monday, with French shares leading the way after the far-right National Rally (RN) party...

Published 01 Jul, 2024 01:10pm

Stocks

London stocks climb on real estate support; election in focus

London stocks kicked off the week on an upbeat note, supported by real estate shares and tracking gains from the...

Published 01 Jul, 2024 01:06pm

Commodities

London copper eases on high inventory pressure

Copper prices eased in London on Monday on rising inventories, but physical demand in China has been picking up and...

Published 01 Jul, 2024 01:02pm

Forex

South African rand gains after Ramaphosa announces new cabinet

JOHANNESBURG: South Africa’s rand strengthened in early trade on Monday after President Cyril Ramaphosa announced...

Published 01 Jul, 2024 01:00pm

969MW Neelum Jhelum Hydropower Project: Some serious design flaws identified

The project was built at a cost of over Rs 500 billion with a delay of several years because of faults, leading to its complete or partial shut down periodically and has been unavailable since first week of May this year

Updated 01 Jul, 2024 11:33am

Bullion Rate

Gold holds ground as slowing inflation boosts Fed rate-cut bets

Gold prices held steady on Monday after data showed U.S. inflation subsided, bolstering hopes that the Federal...

Published 01 Jul, 2024 11:02am

South Asia

North Korea missile launch may have failed and fallen inland

SEOUL: North Korea fired two ballistic missiles on Monday and the second may have failed and blown up during an...

Published 01 Jul, 2024 10:57am

Commodities

Japanese rubber futures extend declines on weaker Thai prices

SINGAPORE: Japanese rubber futures fell for a second session on Monday, tracking weaker physical prices in top...

Published 01 Jul, 2024 10:52am

Currency

Indian rupee to focus on US data after index flows underwhelm

MUMBAI: The Indian rupee is expected to open largely unchanged on Monday, mixed Asian peers were mixed, with the...

Published 01 Jul, 2024 10:22am

Commodities

Iron ore ticks up on better China data, stimulus hopes

BEIJING: Iron ore futures prices rose on Monday, helped by better-than-expected factory data in top consumer China...

Published 01 Jul, 2024 10:18am

Forex

Australia, NZ dollars edge up on dollar, give back on euro

SYDNEY: The Australian and New Zealand dollars started the week on the front foot as a cooling in a key U.S....

Published 01 Jul, 2024 10:14am

Europe

Russia says Ukraine launched scores of drones at three regions

Russia’s air defence systems destroyed 36 drones that Ukraine launched at three regions bordering Ukraine, Russia’s...

Published 01 Jul, 2024 10:07am

Financial

Indian bond yields marginally higher tracking Treasury moves

MUMBAI: Indian government bond yields moved up at the start of the new quarter, following Treasury yields, while...

Published 01 Jul, 2024 10:03am

Stocks

Asia stocks stutter, euro rises after first round vote in France

SINGAPORE: Asian stocks were subdued on Monday as traders pondered the U.S rates outlook, while the euro rose after...

Published 01 Jul, 2024 09:54am

Stocks

Indian shares muted at the open; June auto sales in focus

BENGALURU: Indian shares opened largely flat on Monday, with the focus on auto companies’ sales data for June. The...

Published 01 Jul, 2024 09:47am

IMF bailout plan likely in July

ISLAMABAD: Federal Minister for Finance and Revenue Muhammad Aurangzeb expressed optimism on Sunday that Pakistan...

Updated 01 Jul, 2024 09:44am

Forex

Euro rises after France’s first-round vote, yen struggles

SINGAPORE: The euro rose on Monday after the first round of France’s snap election put the far-right in pole...

Published 01 Jul, 2024 09:41am

New taxation steps come into effect today

Government enforces new taxation measures of Rs1.761 trillion

Updated 01 Jul, 2024 09:23am

Natural gas sale pricing: Proposals presented by Petroleum Div approved by ECC

ISLAMABAD: The Federal Minister for Finance & Revenue Senator Muhammad Aurangzeb presided over a meeting of the...

Updated 01 Jul, 2024 09:22am

Illegal energization of feeders: FIRs not being registered, Pesco tells federal govt

ISLAMABAD: Peshawar Electric Supply Company (PESCO) has informed the federal government that FIRs are not being...

Updated 01 Jul, 2024 09:21am

Private sector participation in Discos’ sell-off: Govt approaches World Bank for NLTA

ISLAMABAD: The government has approached the World Bank ((WB) for Non -Lending Technical Assistance (NLTA) to...

Updated 01 Jul, 2024 09:18am

PM for expediting PWD dissolution process

ISLAMABAD: Prime Minister Shehbaz Sharif has directed to expedite the process of dissolution of the Pakistan Public...

Updated 01 Jul, 2024 09:16am

FY 2023-24: SRB surpasses collection target

KARACHI: The Sindh Revenue Board (SRB) has surpassed its revenue collection target for the fiscal year 2023-24, with...

Updated 01 Jul, 2024 09:15am

Stocks

Healthy foreign buying in PSX during FY24

KARACHI: The improving economic indicators, successful initiation and completion of the IMF Standby Agreement and...

Updated 01 Jul, 2024 08:50am

FBR exceeds revenue target by Rs54bn

ISLAMABAD: FBR has collected Rs 9,306 billion in Financial Year 2023-24 against the target of Rs 9,252 billion...

Updated 01 Jul, 2024 08:45am

FTO directs FBR to recover withholding tax from NHA

ISLAMABAD: Federal Tax Ombudsman (FTO) directed the Member Operations Federal Board of Revenue (FBR) to take...

Updated 01 Jul, 2024 08:44am

BR’s refresher: your morning briefing for the day

Important updates from June 29 and June 30, 2024

Published 01 Jul, 2024 08:42am

‘Eat the rich’

“Banker’s budget”, remarked the top financial journalist in the country, as news broke over the weekend that the...

Published 01 Jul, 2024 08:37am

Diamond Industries Limited

Diamond Industries Limited (PSX: DIIL) was incorporated in Pakistan as a private limited company in 1989. The...

Published 01 Jul, 2024 08:32am

Provincial surplus and the federal budget

To formulate federal and provincial budgets necessitates engagement between the federal government and its ...

Updated 01 Jul, 2024 07:38am

Cricket is the opium of the colonized people

When Marx alluded to religion as the opium of the people, the game of cricket was largely limited to the British...

Updated 01 Jul, 2024 07:29am

Leadership at a crossroads: Prioritizing long-term prosperity over short-term gains

Have our esteemed leaders truly considered the future of our nation and its economy, or are they merely living in ...

Updated 01 Jul, 2024 07:26am

Budget tightens the screws on urban middle class

The FY25 budget has been passed, potentially securing next programme from the IMF (International Monetary Fund) and...

Updated 01 Jul, 2024 07:22am

New taxation steps create a kind of tunnel vision

EDITORIAL: The government is desperate to increase its tax revenues to meet the International Monetary Fund (IMF)...