News Archives for Latest - 2024-07-02

<<>>

Archive - 2024-07-02

US set to announce over $2.3bn arms package for Ukraine, Pentagon says

WASHINGTON: The United States will soon announce more than $2.3 billion in new security assistance for Ukraine,...

Published 02 Jul, 2024 10:38pm

80% of Gazans now displaced: UN humanitarian coordinator

UNITED NATIONS: The UN humanitarian coordinator for Gaza said Tuesday that 1.9 million people – 80 percent of the...

Published 02 Jul, 2024 10:28pm

Europe

Zelensky says urged Orban to ‘join’ Kyiv’s peace efforts

KYIV: President Volodymyr Zelensky on Tuesday said he had urged Hungary’s Moscow-friendly prime minister Viktor...

Published 02 Jul, 2024 10:22pm

Stocks

London’s FTSE 100 hits over two-month low amid election jitters

London’s benchmark stock index closed at more than a two-month low on Tuesday as investors were cautious ahead of...

Published 02 Jul, 2024 09:31pm

PM Shehbaz meets Tajik president, highlights Pakistan’s investment potential in multiple sectors

Both leaders discuss ways to strengthen cooperation in different fields between the two countries

Updated 02 Jul, 2024 09:12pm

Business & Economy

Measures underway to pass on benefits of economic policies to public: Ali Pervaiz Malik

Minister of State for Finance says investors' trust is increasing while the stock market has also witnessed a historic boom

Updated 02 Jul, 2024 09:10pm

Companies

Pakistan’s Citi Pharma enters into strategic partnership with Indian company

Citi Pharma Limited (CPHL), a Pakistani pharmaceutical company, has entered into a strategic partnership with...

Updated 02 Jul, 2024 09:08pm

Stocks

KSE-100 gains on heavyweight stocks, settles above 79k level for first time

Bullish momentum continued on Tuesday at the Pakistan Stock Exchange (PSX) driven by optimism over a new...

Updated 02 Jul, 2024 09:07pm

South Asia

107 killed in stampede at India religious gathering

LUCKNOW: At least 107 people were crushed to death at a Hindu religious gathering in northern India on Tuesday, with...

Updated 02 Jul, 2024 09:03pm

Stocks

Wall St edges lower as Powell signals caution; Tesla jumps after delivery data

Wall Street indexes traded lower on Tuesday after Federal Reserve Chairman Jerome Powell said more evidence was...

Published 02 Jul, 2024 08:50pm

Middle East

250,000 in southern Gaza hit by Israel’s new evacuation order: UN

GENEVA: The UN agency supporting Palestinian refugees estimated Tuesday that a quarter of a million people had been...

Published 02 Jul, 2024 08:42pm

Exchange

Rupee sees marginal decline against US dollar

Currency settles at 278.38 against greenback in inter-bank market

Updated 02 Jul, 2024 08:11pm

Business & Economy

Pakistan’s trade deficit contracts 12% YoY to $24.1bn in FY24

Exports increase by 10.5% to $30.7bn while imports decline 0.8% to $54.7bn
However, trade deficit increases by 15.13% to $2.39 billion in June

Updated 02 Jul, 2024 08:10pm

The how, why, and what of government debt securities

When it comes to investment instruments, the capital market of Pakistan can be divided into two broad categories:...

Published 02 Jul, 2024 08:08pm

Middle East

1.9 million now displaced in Gaza: UN humanitarian coordinator

UNITED NATIONS: The UN humanitarian coordinator for Gaza said Tuesday that 1.9 million people were now displaced in...

Published 02 Jul, 2024 07:57pm

Europe

Putin to meet Xi and Erdogan at SCO summit in Kazakhstan

MOSCOW: Russian President Vladimir Putin will hold meetings with Chinese President Xi Jinping and Turkish President...

Published 02 Jul, 2024 07:32pm

Stocks

Gulf markets mixed as expectations rise of US rate cuts

Stock markets in the Gulf ended mixed on Tuesday as expectations mounted U.S. interest rates will fall, with the...

Published 02 Jul, 2024 07:11pm

Energy

Oil rises to two-month high on summer demand outlook and supply fears

BENGALURU: Oil prices climbed nearly 1% on Tuesday, extending gains to two-month highs on Tuesday on expectations of...

Updated 02 Jul, 2024 06:41pm

Energy

PPL discovers gas reserves in Sindh

Pakistan Petroleum Limited (PPL), a key supplier of natural gas in the country, has discovered gas reserves from its...

Updated 02 Jul, 2024 06:26pm

Imran Khan’s wife Bushra Bibi gets bail in graft case

Accountability court adjourns hearing in £190 million case till July 5

Published 02 Jul, 2024 05:46pm

Movies & Music

Pakistani actor Sarwat Gilani looks to raise awareness on postpartum depression

Pakistani actor Sarwat Gilani recently spoke about her struggle with postpartum depression following the birth of...

Published 02 Jul, 2024 05:45pm

Imran Khan’s detention internal matter for Pakistan: US State Dept

Principal Deputy Spokesperson Vedant Patel says Pakistan's elections continue to be in Washington's focus

Updated 02 Jul, 2024 05:17pm

Stocks

Sri Lanka shares climb on utilities stocks-led boost

CSE All Share index settled up 0.35% at 12,118.29

Published 02 Jul, 2024 05:15pm

Movies & Music

Bollywood actor Shah Rukh Khan to receive Locarno Film Festival career award

The 77th edition of Swiss film festival will take place from August 7-17

Updated 02 Jul, 2024 05:04pm

Europe

Russia says destroyed 5 Ukrainian jets in strike on air base

MOSCOW: Russia claimed Tuesday to have destroyed five Ukrainian military jets in a strike on an air base that comes...

Published 02 Jul, 2024 04:53pm

Stocks

Indian shares close flat as auto, financials offset IT gains

BENGALURU: Indian shares settled flat on Tuesday, erasing early gains as a drop in financials and auto stocks offset...

Published 02 Jul, 2024 04:35pm

Commodities

Palm ends higher on rival oils strength, production worries

JAKARTA: Malaysian palm oil futures closed higher, extended gains to a fifth consecutive session on Tuesday,...

Published 02 Jul, 2024 04:30pm

South Asia

Heavy rainfall in several parts of India triggers floods, at least 11 dead

GUWAHATI: Heavy rain continued to trigger flood and landslides in India’s north and north-east, killing at least 11...

Published 02 Jul, 2024 03:48pm

Europe

Kremlin says visit by India’s Modi to Russia is very important

MOSCOW: The Kremlin said on Tuesday that an upcoming visit by Indian Prime Minister Narendra Modi to Russia was...

Published 02 Jul, 2024 03:23pm

Misfiring France lean on brilliant back line at Euro 2024

DÜSSELDORF: Kylian Mbappe and France’s attack might be misfiring, but a solid foundation can be more important at a...

Published 02 Jul, 2024 03:13pm

Africa

Dozens protest in Kenya with riot police out in force

NAIROBI: Dozens of Kenyans took to the streets Tuesday under a heavy police presence, with many shops shuttered as...

Published 02 Jul, 2024 03:06pm

Mutual Funds

Euro zone bond yields hold steady before inflation data

LONDON: Euro zone bond yields were little changed on Tuesday after rising sharply the previous day, as investors...

Published 02 Jul, 2024 03:01pm

Europe

Italy May unemployment rate stable at 6.8%, but 17,000 jobs lost in month

ROME: Italy’s unemployment rate was stable at 6.8% in May, national statistics bureau ISTAT reported on Tuesday,...

Published 02 Jul, 2024 02:52pm

Qatar Airways posts 39% jump in annual profit to record $1.67 billion

DUBAI: Qatar Airways posted a 39% jump in annual net profit to a record 6.1 billion Qatari riyals ($1.67 billion) on...

Published 02 Jul, 2024 02:51pm

Lionel Messi back at training ahead of Argentina’s Copa America quarter-final

Argentina’s Lionel Messi returned to training on Monday as they prepare to face Ecuador in the Copa America...

Published 02 Jul, 2024 02:50pm

Forex

South African rand extends losses on concerns over unity government obstacles

JOHANNESBURG: The South African rand extended losses early on Tuesday on concerns over future challenges for the...

Published 02 Jul, 2024 02:48pm

Mutual Funds

JGB yields rise as markets await BOJ’s bond buying plans

TOKYO: Japanese government bond yields rose on Tuesday as investors awaited details on the Bank of Japan’s plan to...

Published 02 Jul, 2024 02:47pm

Forex

Russian rouble eases against dollar, yuan as FX selling eases

MOSCOW: The Russian rouble weakened against the dollar and yuan on Tuesday, under pressure at the start of the month...

Published 02 Jul, 2024 02:45pm

Stocks

European stocks pull back ahead of inflation data

European stocks slipped on Tuesday, with French equities erasing some of the previous session’s gains driven by...

Published 02 Jul, 2024 02:43pm

Ryanair traffic rises 11% to record high in June

DUBLIN: Ryanair flew a record 19.3 million passengers in June, up 11% from a year earlier, the low-cost airline said...

Published 02 Jul, 2024 02:39pm

Movies & Music

Pakistani VJ Anoushey Ashraf ties the knot

Pakistani VJ Anoushey Ashraf tied the knot in an intimate Nikkah ceremony earlier this week, attended by close...

Published 02 Jul, 2024 02:35pm

Middle East

Major Gulf markets gain on possible US rate cuts, fuel demand

Most major stock markets in the Gulf edged higher in early trade on Tuesday on hopes for possible US interest rate...

Published 02 Jul, 2024 02:23pm

Commodities

Copper rises on signs of improving China demand, LME stock draw

Copper prices rose on Tuesday, as stock withdrawals in South Korea relieved some oversupply pressure and as signs...

Published 02 Jul, 2024 02:21pm

Stocks

China stocks close lower as investors weigh recovery, await policy

SHANGHAI: China stocks closed down while Hong Kong shares rose on Tuesday, as investors weighed domestic recovery...

Published 02 Jul, 2024 02:20pm

Forex

Sterling dented by one-two punch from dollar and euro

LONDON: The pound neared its lowest in almost two months against a robust dollar on Tuesday, as the US currency got...

Published 02 Jul, 2024 02:18pm

Bullion Rate

Gold unchanged at Rs241,500 per tola in Pakistan

After declining in the previous session, gold prices in Pakistan remained unchanged on Tuesday in line with the...

Published 02 Jul, 2024 02:17pm

RD slapped on 657 luxury goods: 2pc ACD imposed on import of 2,200 items

Regulatory duties imposed within the range of 5 percent to 55 percent on the import of hundreds of items from July 1, 2024

Updated 02 Jul, 2024 01:49pm

Stocks

London stocks slip as election looms closer, Sainsbury falls on reaffirmed outlook

London’s FTSE 100 tumbled on Tuesday after ending the previous session flat as investors maintained caution ahead of...

Published 02 Jul, 2024 01:40pm

Cristiano Ronaldo’s tears turn to cheers as Portugal survive his Euros penalty miss

FRANKFURT: Cristiano Ronaldo went from tears to cheers as the Portugal star recovered from missing a penalty during...

Published 02 Jul, 2024 01:10pm

Slovenia’s historic Euro 2024 run bittersweet for coach Kek

FRANKFURT: Slovenia boss Matjaz Kek hopes his side’s run to the last 16 at Euro 2024 will be the launching pad for...

Published 02 Jul, 2024 01:03pm

The ‘game of my life’, says Portugal Euros penalty hero Costa

FRANKFURT: Portugal goalkeeper Diogo Costa said he had the best game of his life against Slovenia on Monday as he...

Published 02 Jul, 2024 01:00pm

Novak Djokovic, Murray launch Wimbledon campaigns

LONDON: Wimbledon greats Novak Djokovic and Andy Murray launch their campaigns at the All England Club on Tuesday...

Published 02 Jul, 2024 12:43pm

Asia

China’s Xi leaves for state visits to Kazakhstan, Tajikistan

BEIJING: Chinese President Xi Jinping left Tuesday for state visits to Kazakhstan and Tajikistan, during which he...

Published 02 Jul, 2024 12:39pm

Venezuela’s Maduro says talks to resume with US

CARACAS: Venezuelan President Nicolas Maduro said Monday that talks would soon resume with the United States, which...

Published 02 Jul, 2024 12:35pm

USA

At least 19 dead in drug gang clash in Mexico

MEXICO CITY: At least 19 people were killed, four of them Guatemalans, in a turf battle between two drug gangs in...

Published 02 Jul, 2024 12:33pm

Middle East

Israel strikes southern Gaza after ordering evacuations

GAZA STRIP: Israel carried out fresh strikes in southern Gaza on Tuesday, forcing hundreds of Palestinians to flee...

Published 02 Jul, 2024 12:26pm

US coach Berhalter defiant over future after early Copa exit

KANSAS CITY: Gregg Berhalter insisted he was still the right man to lead the United States at the 2026 World Cup on...

Published 02 Jul, 2024 12:09pm

Captive power units: MoC opposed to increase in gas rates

Says hike in gas tariff and plan for closure of captive units by January 2025 could impact the country’s exports

Updated 02 Jul, 2024 12:09pm

Europe

Hungary’s Viktor Orban visits Ukraine with aid tensions running high

KYIV: Hungary’s Prime Minister Viktor Orban arrived in Ukraine on Tuesday for a surprise visit to the war-torn...

Published 02 Jul, 2024 12:03pm

South Asia

Sri Lanka to save $5bn from bilateral debt deal

COLOMBO: Sri Lanka will save $5 billion following the restructure of its bilateral debt, much of which is owed to...

Published 02 Jul, 2024 11:56am

Samsung Electronics workers to strike on July 8-10, union official says

SEOUL: A workers’ union at Samsung Electronics in South Korea has called a strike for July 8-10, a union official...

Published 02 Jul, 2024 11:43am

USA

Joe Biden warns Supreme Court presidential immunity ruling is ‘dangerous precedent’

WASHINGTON: US President Joe Biden said on Monday the Supreme Court ruling on presidential immunity set a “dangerous...

Published 02 Jul, 2024 11:40am

Commodities

Indonesia sees lower rice output in Jan-Aug, statistics bureau says

JAKARTA: Indonesia’s rice output in January to August this year is estimated at 21.39 million metric tons, dropping...

Published 02 Jul, 2024 11:35am

Bullion Rate

Gold flat as investors eye Powell’s speech

Gold prices were flat on Tuesday, as investors awaited comments from Federal Reserve Chair Jerome Powell and jobs...

Published 02 Jul, 2024 11:32am

Commodities

Palm oil gains on Dalian strength, production worries

JAKARTA: Malaysian palm oil futures rose for a fifth consecutive session on Tuesday, underpinned by concerns about...

Published 02 Jul, 2024 11:30am

Chinese player Zhang died of cardiac arrest, Indonesia association says

JAKARTA: Indonesia’s badminton association (PBSI) said 17-year-old Chinese player Zhang Zhijie died as a result of...

Published 02 Jul, 2024 11:28am

Russian tennis player Rublev turns down Paris invite, Medvedev accepts

Tokyo doubles gold medallist Andrey Rublev and fellow tennis players Darya Kasatkina and Anna Kalinskaya are among...

Published 02 Jul, 2024 11:26am

Commodities

Corn rises for 2nd session on declining US crop condition

SINGAPORE: Chicago corn futures gained more ground on Tuesday, as the US crop condition declined due to adverse...

Published 02 Jul, 2024 11:19am

Thai exports seen up 1%-2% this year, shippers’ group says

BANGKOK: Thailand’s exports are expected to rise 1% to 2% this year, the Thai National Shippers’ Council said on...

Published 02 Jul, 2024 11:13am

Europe

Olaf Scholz takes German cabinet to Poland with defence high on agenda

WARSAW: German Chancellor Olaf Scholz and Polish Prime Minister Donald Tusk meet in Warsaw on Tuesday, as nations...

Published 02 Jul, 2024 11:03am

Forex

China’s yuan slumps to seven-month low on weaker guidance

SHANGHAI: China’s yuan slumped to a fresh seven-month low against the dollar on Tuesday, as the greenback...

Published 02 Jul, 2024 10:56am

Stocks

Dollar strengthens as bets on Trump presidency rise post-debate

HONG KONG: The dollar rose Tuesday and Asia equities were mixed as investors weighed the possibility of another...

Published 02 Jul, 2024 10:54am

Forex

Australian dollar scales 33-year peak on yen as yields attract

SYDNEY: The Australian dollar was near 33-year peaks on the Japanese yen on Tuesday as rising bond yields made it an...

Published 02 Jul, 2024 10:47am

Companies

Siemens Energy plans 10,000 hires for electricity grid unit, FT says

Siemens Energy plans to recruit more than 10,000 new employees for its electricity grid business, set to be the...

Published 02 Jul, 2024 10:45am

Hurricane Beryl strengthens on way to Jamaica, threatens catastrophe

KINGSTON/PORT OF SPAIN: Hurricane Beryl strengthened on Monday into a “potentially catastrophic” category 5 storm as...

Published 02 Jul, 2024 10:41am

Ukraine’s defence minister to hold talks with Austin, Pentagon says

Ukraine’s Defence Minister Rustem Umerov will hold talks with US Defence Secretary Lloyd Austin in Washington on...

Published 02 Jul, 2024 10:23am

Mutual Funds

Indian bonds shrug off rising US Treasury yields

MUMBAI: Indian government bond yields were largely unchanged in early trade on Tuesday, showing a muted reaction to...

Published 02 Jul, 2024 10:12am

Forex

Indian rupee expected to decline on the back of rising US yields

MUMBAI: The Indian rupee is expected to decline at the open on Tuesday, weighed down by a further rise in US...

Published 02 Jul, 2024 10:10am

Stocks

Australia shares rangebound ahead of RBA minutes

Australian shares drifted within a narrow range on Tuesday, as investors were cautious before the country’s central...

Published 02 Jul, 2024 10:03am

Stocks

Indian shares hit record highs at open; IT stocks lead

BENGALURU: Indian shares hit record highs on Tuesday, led by information technology stocks, which continued to rise...

Published 02 Jul, 2024 10:01am

Stocks

Financials lift Japanese shares on rate-hike speculation

TOKYO: Japan’s Nikkei share average rose on Tuesday, buoyed by financial sector stocks climbing on speculation that...

Published 02 Jul, 2024 09:59am

Forex

US yields lift dollar and leave yen languishing

SINGAPORE: The dollar was supported by rising US yields and the blowtorch was on low-yielding currencies on Tuesday...

Published 02 Jul, 2024 09:56am

As per IMF dictation but in violation of Nepra’s law: 6- to 12-hour load-shedding under the garb of ‘big losses’

ISLAMABAD: The government is continuously unleashing power load-shedding of 6-12 hours in the scorching heat across...

Updated 02 Jul, 2024 09:31am

Tajir Dost Scheme: There should be no extra tax on registered traders: CC

ISLAMABAD: There should be no additional tax on traders and shopkeepers registered under the Tajir Dost Scheme from...

Updated 02 Jul, 2024 09:30am

Business-friendly policies infuse foreign investors’ trust: PM

ISLAMABAD: Prime Minister Shehbaz Sharif on Monday said that the business friendly policies of the incumbent...

Updated 02 Jul, 2024 09:28am

Aurangzeb says empathises with salaried class

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

Updated 02 Jul, 2024 09:24am

June CPI inflation jumps 12.6pc YoY

ISLAMABAD: The Consumer Price Index (CPI) inflation increased to 12.6 percent on a year-on-year basis in June 2024...

Updated 02 Jul, 2024 09:09am

‘Foreign gifts not for sale’: Govt directs ministries to submit undertaking

ISLAMABAD: The government has directed all ministries to submit undertaking that duties and taxes free goods...

Updated 02 Jul, 2024 09:07am

PL’s max limit raised as part of contingency plan: Tarar

ISLAMABAD: The federal government has increased the maximum limit of petroleum levy (PL) on petroleum products,...

Updated 02 Jul, 2024 09:07am

BR’s refresher: your morning briefing for the day

Important updates from July 1, 2024

Published 02 Jul, 2024 09:05am

Sindh govt assails MQM, demands removal of Tessori

KARACHI: Senior Minister Sharjeel Inam Memon has called the accusations against Shaheed Zulfiqar Ali Bhutto by...

Updated 02 Jul, 2024 09:01am

Rain-related emergencies: NDMA activates NEOC in Punjab, Sindh

ISLAMABAD: Following the Pakistan Metrological Department (PMD)’s weather forecast which predicted vigorous monsoon...

Updated 02 Jul, 2024 09:01am

Petroleum Levy: What is the plan?

Contrary to expectations, built no less by the government in the Budget, petroleum prices for the first fortnight of...

Published 02 Jul, 2024 08:06am

Inflation: What to expect in FY25

Last year was tough as the headline inflation remained above 20 percent for the second consecutive year. The FY24...

Published 02 Jul, 2024 08:02am

Leiner Pak Gelatine Limited

Leiner Pak Gelatine Limited (PSX: LPGL) was incorporated in Pakistan as a public limited company in 1983. The...

Published 02 Jul, 2024 07:57am

The dire consequences of global warming

While camping in the serene upper reaches of Neelam Valley last week, I observed that a stark transformation is...

Updated 02 Jul, 2024 06:39am

Taxation in Pakistan: taxing the untaxed elites

Chris Matthews’s famous quote “Paying tax is not a punishment. It’s a responsibility”. Most developed...

Updated 02 Jul, 2024 06:33am

Some key budgetary magnitudes

The Federal Budget for 2024-25 has been examined by the Parliament and following some amendments it has been...

Updated 02 Jul, 2024 06:30am

Heading towards the breaking point

EDITORIAL: Finance Minister Muhammad Aurangzeb’s claims at a news conference after parliament passed the budget ...

Updated 02 Jul, 2024 06:27am

Companies

Flydubai starts flights for Lahore, Islamabad

KARACHI: Flydubai has commenced its operations for Lahore and Islamabad. According to the details, the inaugural...

Updated 02 Jul, 2024 06:02am

Experts say Pakistan budget massively negative for struggling healthcare sector

KARACHI: Pharmaceutical industry experts have expressed concerns regarding the recent taxation changes in Pakistan,...

Updated 02 Jul, 2024 05:58am

Industry

Smeda launches 10-year cluster-based development plan

LAHORE: The Small and Medium Enterprises Development Authority (Smeda) has evolved a 10-year Cluster-Based...

Updated 02 Jul, 2024 05:48am

US SC rules Trump has immunity for official, not private acts

WASHINGTON: The US Supreme Court found on Monday that Donald Trump cannot be prosecuted for any actions that were...